This article offers a comprehensive 4XC review, outlining the pros and cons, services and what traders should know before choosing this broker.
4XC also known as 4xCube is an online forex and CFD broker established in 2018 that has quickly become popular among retail traders. Based in the Cook Islands and regulated by the Financial Supervisory Commission (FSC), 4XC provides access to a wide range of markets, including forex, commodities, indices, stocks, and cryptocurrencies.
The broker caters to both beginner and experienced traders, offering a range of features such as multiple account types, high leverage options, and compatibility with the popular MetaTrader platforms (MT4 and MT5).
4XC Review: Pros
1. Multiple Trading Platforms
By supporting a wide range of trading platforms, 4XC offers flexibility to traders who have preferences in terms of technology and accessibility. It supports access to the following platforms:
- MetaTrader 4 (MT4): This platform is known for its robust charting tools, technical indicators, and automated trading capabilities. MT4 is especially preferred by new traders for its simplicity and ease of use.
- MetaTrader 5 (MT5): This is the next-generation trading platform with advanced features like additional timeframes, more technical indicators, and greater asset diversity. MT5 is ideal for professional traders looking for more sophisticated tools and access to a broader range of markets.
- 4XC WebTrader: This is a browser-based platform that allows traders to access their accounts and execute trades without downloading software. It provides real-time data, multiple order types, and technical analysis tools, making it convenient for traders who are on the go.
2. Wide Range of Tradable Assets
4XC offers an extensive selection of over 300 tradable assets. This includes: major and minor currency pairs; commodities like gold and silver; major indices such as the S&P 500, FTSE 100 and DAX; cryptocurrencies including Bitcoin, Ethereum, and Litecoin, as well as a range of individual stocks from major global companies, allowing traders to diversify their portfolios. This broad range of instruments gives traders plenty of options to diversify their trading strategies and explore opportunities across multiple markets.
3. Flexible Account Types
The broker provides various account types to cater to different levels of traders. This includes the following:
- Standard Account: The entry-level account with no commissions and competitive spreads, suitable for beginner traders. It offers access to all trading instruments and platforms with a low minimum deposit.
- Pro Account: A more advanced account designed for experienced traders. It features tighter spreads, access to higher leverage, and a small commission per trade, making it suitable for traders who prefer low-cost trading.
- VIP Account: Tailored for professional traders or those with large capital. This account offers ultra-tight spreads, reduced commissions, and premium customer support.
Each account type also comes with the option of Islamic (swap-free) accounts, which adhere to the principles of Islamic finance, making 4XC accessible to traders who require Sharia-compliant trading options.
4. High Leverage Options
4XC also offers high leverage options for forex trading. This high leverage allows traders to control larger positions with a smaller initial investment, increasing the potential for higher profits. This amplification of capital allows traders to maximize their returns on small price movements.
5. Tight Spreads and Low Trading Costs
The broker offers competitive spreads, especially on the Pro and VIP accounts. Its spreads on major forex pairs like EUR/USD can be as low as 0.1 pips, making it an attractive choice for day traders and scalpers who rely on tight spreads to reduce trading costs. Additionally, the Pro and VIP accounts offer low commissions, ensuring that high-volume traders can keep their trading expenses to a minimum.
6. Educational Resources
4XC provides extensive educational resources for traders of different levels. This includes video tutorials covering market analysis, and forex trading strategies; live training sessions conducted by market experts; downloadable resources that offer detailed insights into the forex market, technical indicators, and trading strategies, as well as economic calendar.
4XC Review: Cons
1. Limited Regulation
Although 4XC is regulated by the Financial Supervisory Commission (FSC) of the Cook Islands, this level of regulation is not as stringent as the regulations by top-tier financial authorities such as the FCA or ASIC. Additionally, the broker does maintain segregated accounts and negative balance protection. This may raise concerns about the security of funds and the broker’s transparency.
2. Limited Deposit and Withdrawal Options
4XC offers a limited number of deposit and withdrawal options compared to other brokers in the industry. Also, the withdrawal process can take a few days, depending on the method used. Traders who prioritize fast withdrawals may find the available options and processing times somewhat restrictive.
3. No 24/7 Customer Support
Although 4XC offers 24/5 customer support, it does not provide assistance over the weekend when the markets are closed. This could be a drawback for traders who require immediate assistance outside of trading hours, particularly those in different time zones. Brokers with 24/7 customer support can offer more convenience and reliance, especially for traders who may face issues with account access or funding.
5. Lack of Proprietary Trading Platform
While 4XC supports MT4 and MT5, the broker does not offer a proprietary trading platform. Some brokers develop their own platforms with unique features and additional tools that cater specifically to their client base. The absence of a proprietary platform may limit the appeal for traders seeking more customized trading experiences or advanced features beyond what MetaTrader provides.
Conclusion
As can be seen from this 4XC review, the broker is well-suited for traders seeking flexibility with a variety of platforms and asset classes. However, the broker’s limited regulation, limited deposit/withdrawal options among other drawbacks calls for critical attention.
Frequently Asked Questions
Where is 4XC based?
- The broker is based in the Cook Island.
What is the minimum deposit for 4XC?
- The minimum deposit charged by the broker for opening an account is $50.
How long does it take to withdraw my money from 4XC?
- The processing time for withdrawals may vary depending on the withdrawal methods used. However, this may take between 1 and 3 business days.