4XP Review | A Review for Forex Place
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Regulation: Not Regulated
Broker Type: market maker,ECN
Headquarter: Tortola, British Virgin Islands
Established: 2008
Broker reviewed: Forex Place (4XP)
Forex Place (also known as 4XP) is one of the few online forex brokers that allow forex robots in their Meta Trader (MT4).
4Xp Review: Features Summary
1. Forex Robot; as stated above, 4XP has MT4 as their default trading platform for free and allows forex robot/expert advisor.
2. Clients Citizenship; 4XP accept clients from various countries, including US citizens who have dual citizenship.
3. Leverage; 4XP offer 1:300 leverage. Under special request, they also approve 1:500 leverage. If you are confident with your trading system, use this to your advantage.
4. Commissions; 4XP doesn’t charges commissions/fees for each trade; the company is compensated through the difference between buy and sell price (spread).
5. Strategies; Allow forex robots, scalping, and hedging. There are high possibilities to make profits when you’re allowed to use various strategies. Just make sure that you know what you’re doing.
6. Support; their dealing room is open 24 hours, closes only on Fridays at 10 pm GMT and reopens on Sundays at 7 am GMT. You can communicate with them with various languages for support and technical assistance; their websites also designed so it can be viewed in 12 different languages.
7. Deposit and Withdrawal; deposit via credit cards, bank wire, MoneyBookers, Netller, Liberty Reserve, etc. For withdrawal, fill the withdrawal request form, then fax or email it to 4XP.
8. Spread; apply fixed spread with the spread for EUR/USD, USD/JPY, and EUR/GBP are 3 pips. They also provide ECN account with low variable spread.
9. Trading Platform; using the world leading trading platform: MT4. MT4 is an easy to use trading platform with multiple features such as charting and technical indicators to support both novices and professional traders.
Don’t have time to sit in front of your computer? No problem, they also provide mobile trading via MT4 for pocket PC and MT4 for Smart Phone.
10. Practice/Demo Account; USD50,000 demo account available.
12. Security; client’s funds will be deposited at Commerzbank in Frankfurt.
13. Currency pairs; over 50 currency pairs, gold, and oil. Usually, most traders focused on major currency pair such as EUR/USD or GBP/USD which has low spread, but there are always profits opportunities in other currency pairs as well.
4Xp Review: Conclusion
4XP offer a convenient trading environment both for manual trader or anyone who utilize automated trading system such as forex signals or forex robot.
Click here to visit 4XP – Forex Place
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Scam
I asked for a demo account to test the response time . It is unsual to have to ask for a demo account as online registration is the norm . I was contacted by a sales rep . I was told that the rep could not help with a demo account but if I was willing to deposit he would double the amount . I deposited 100$ . The amount is in my trading account and I have proof of the deposit . I soon realised all was not well as all the information supplied to me by the rep were false . I asked for a withdrawal online . They have a 35$ withdrawal fee . I have not argued this but it was not what the rep had told me . I have not received any amount . I have not traded just would like the ballance . I emailed the rep Sean but he never responded to any emails .
