The broker 4XFX has a very creative name among other brokers. It has four trading accounts with n numbers of trading assets and multiple trading platforms. At the first view, the offerings of 4XFX look great, however, there are several loopholes in it. In this 4XFX review, we will cover all the crucial characteristic of this broker. Read the detailed review of 4XFX here.
The four provided trading accounts are Starter, Silver, Gold, and Platinum with minimum deposit requirement of $250, 0.5 BTC, 1 BTC, and 10 BTC respectively. Maximum leverage of 1:100 and 1:200 is offered on different trading accounts depending on the initial investment. The average spread of fixed 3 pips can be seen on the Starter Account. Other accounts have unspecified floating and fixed spreads.
To make non-polar and full of information review, we tend to discuss possible pros and cons of the broker 4XFX. This section will cover the possible pros of the broker. The broker provides not one, not two but three different trading platforms. These include the most famous MetaTrader, Proprietary web-based and Moblie Application-based trading platform. These offering of the trading platform is quite excessive. MetaTrader supports both web-based and mobile-based operating system. However, the broker claims to have a self-owned web-based trading platform that we have seen at other brokers as well. Trading is facilitated on a standard lot size of 1 lot. That is 100000 currency units. The broker also has a plethora of trading assets including indexes, commodities, stocks, foreign exchange, and crypto coins. Furthermore, the available high leverage level is also acceptable. Also, the broker has plenty of payment methods like bank wire transfer, credit cards and electronic wallets.
Nevertheless, the broker 4XFX has many cons as well. In this section, we will cover them. GRF Europe OU situated in Estonia is the owner of brand name 4XFX. The broker’s operational office is situated in Germany. We checked with Germany’s BaFin and Estonian Finantsinspektsioon and could not find 4XFX’s registration. The spread of 3 pips on EuroUSD fx pair is high and cause an increase in trading cost. The minimum deposits of BTC are also higher and not feasible. The official website of 4XFX is very laggy and surfing on it is not pleasant to experience.
Is 4XFX scam or legit?
The broker 4XFX is not regulated. It is blacklisted by BaFin and Finantsinspektsioon. Trading conditions are not great and it is situated in offshore. That’s why we call it a potential Australian trading scam.