4XC Review 2024

Trust

4XC Regulations

4XC operates under one entity:

• 4xCube Ltd is registered in the Cook Islands and licensed by the Financial Supervisory Commission.

Why is it Important to Know Where Your Broker’s Subsidiary Is Regulated?

Each regulator has its own requirements for brokers, which may differ substantially. Such requirements cover aspects like leverage levels and specific protections for investors.

These protections may include negative balance protection, segregated accounts, and investor compensation funds. Traders should understand the differences between regulations to evaluate whether the broker suits their needs.

4XC operates under one entity, 4xCube Ltd, which is licensed by the Financial Supervisory Commission of the Cook Islands. The entity provides negative balance protection, which means that clients cannot lose more money than they have in their accounts. Importantly, the negative balance protection applies only to trades of forex currency pairs and metals. Other CFDs are not covered by negative balance protection.

4xCube Ltd holds clients’ funds in segregated accounts, which means that clients’ money will not be used for the broker’s own business purposes. The use of segregated accounts boosts the safety of clients’ funds in case the broker has financial problems.

Stability and Transparency

In my tests for the Trust category, I also cover factors relating to stability and transparency. Here, I focused on how long the broker has been in business, the size of the company, and the transparency in terms of readily available information.

Founded in 2018, 4XC is not publicly traded and does not have a bank parent, which is common for a broker.

Traders can find important documents in the legal section of the website, including Terms and Conditions, Order Execution Policy, Client Agreement, Risk Disclosure, Complaints Policy, and others.

The Account Types page provides information on the details of the account offering, while the Funding Methods page highlights deposit and withdrawal options available at 4XC.

Is 4XC Safe to Trade with?

In summary, my research indicates that 4XC can be regarded as having a reasonable level of trust and stability due to the following factors:

• 6 years of operational history
• Authorized by a Tier-3 regulator
• Holds clients’ funds in segregated accounts
• Provides negative balance protection only for forex pairs and metal CFD trading
• Provides easy access to important information on the company’s website

Fees

4XC Trading Fees

For this review, I tested the 4XC Standard account, in which the broker charges spreads and swap/rollover fees but does not charge commissions.

Spreads are variable and depend on the liquidity situation for each instrument at a certain point in time.

4XC Spreads

I tested the spreads during the London open at 8 a.m. UK time and shortly after the U.S. open at 2:45 p.m. UK time, which are the most actively traded hours.

I summarized my findings in the table below:

My tests indicated that 4XC offered low spreads for Gold, Dow Jones, and Bitcoin. Spreads for DAX and EUR/USD were medium during my tests, while the spreads for GBP/JPY were high.

Swap Fees

My research showed that EUR/USD swap fees were high, while GBP/JPY swaps were moderate.

Non-Trading Fees

4XC has an inactivity fee of $30 for dormant accounts, which is higher than the industry average. An account will be deemed dormant after 1 month of inactivity, which is rather strict by industry standards.

Are 4XC Trading Fees Good?

4XC provides attractive fees for Gold, Dow Jones, and Bitcoin at its Standard Account. I must note that Bitcoin’s spreads were even close to the best offerings in the industry. The spreads for the other instruments I tested were either moderate or high compared to the industry average.

However, the 4XC’s swap fees were rather elevated, and the inactivity fee is also quite high for the industry. Overall, 4XC fees were mostly in line with the industry average.

Platforms and Tools

Desktop and Web Platforms

In this review, I tested the MetaTrader 5, analyzing charts, indicators, drawing tools, orders, and the platform’s general ease of use.

General Ease of Use

MT5 is a sophisticated trading platform that could be tailored to traders’ needs. The interface is rather intuitive, although some traders may need to search for tutorials to learn more about the MT5 capabilities.

In general, advanced traders will have no problems with MT5, while beginners have to spend some time learning the basics of this platform.

Beginner traders should learn about various chart options, indicators, drawing tools, and orders. They should also learn how to create their own watchlists and manage their trading positions.

Although this work requires some time and effort, traders who invest in that ultimately get a powerful tool that helps achieve better trading results

Charts

MT5 offers 97 indicators and 21 timeframes, which is more than enough to customize your charts and meet your needs.

Trend indicators, oscillators, volumes, Bill Williams, and custom indicators help traders design the chart they need.

The available timeframes range from 1 minute to 1 month, so they allow the trader to examine short-term developments and significant multi-month trends.

MT5 also supports objects:

• lines
• channels
• Gann tools
• Fibonacci tools
• Elliott tools
• shapes

Many traders use these popular tools to make decisions, so their presence is a must for any reputable trading platform.

Each chart could be displayed as a bar chart, a candlesticks chart, and a line chart. Candlesticks are generally more popular among traders as there is an abundance of various candlesticks patterns that are used to make trading decisions. Although other types of charts also have their fans.

MT5 charts are easy to configure even for novice traders, but they also offer enough options for expert traders.

Orders

MT5 offers all main order types, which include:

• Market order. This order is used to buy or sell the instrument at the current market price. It is used when the trader needs to establish a position in the fastest possible way. The main downside of the market order is the necessity to pay a spread, which is a difference between the bid price and the ask price.
• Limit orders. This order is used to buy or sell the instrument at a pre-set price or better. A limit order is used when the trader wants to get a specific entry point and is unwilling to pay the current market prices.
• Stop-loss orders. Stop-loss orders are used to get you out of the position when the price is moving in the wrong way. The order is triggered when the price reaches a specified point.
• Stop limit orders. This is a stop-loss order which puts a limit order instead of a market order when it is triggered. This is a dangerous way to get out of the position and should be used only by experienced traders.
• Trailing stop orders. This order allows you to set a stop order that will move if your open position trends in the right direction. This order is used to protect your profits in case the market direction reverses.

Different expiration types are available for all pending orders, including GTC (good-till-cancel), Today, Specified, and Specified Day.

My Key Takeaways After Testing Desktop Platform

MetaTrader 5 and MetaTrader 4 are popular trading platforms that I have been using for years. Beginner traders should note that they will have to spend some time studying the functions of the platform. Such traders should also note that MetaTrader’s design looks outdated. However, the platform is powerful and customizable, so taking the time to get in-depth knowledge of MetaTrader is a good investment.

4XC Mobile App

In this review, I tested the 4XC MetaTrader 5 Mobile App for Android.

General Ease of Use

The MT5 mobile app is quite intuitive and provides charts, quotes, account balance info, economic calendar, news, and other tools that help to make informed trading decisions.

Charts

MT5 mobile app offers:

• 30 technical indicators
• 24 drawing tools
• 9 timeframes
• 3 chart types

This selection of options is sufficient h for mobile-based trading. Typically, the mobile app is used when the trader does not have access to the desktop platform but needs to monitor the market and open positions.

While the app is helpful in certain circumstances, it cannot beat the speed of work that could be achieved using the desktop platform, which is the primary solution for active trading.

Orders

In an MT5 mobile app, you can set market orders, limit orders, and stop orders. Trailing stops are not available on mobile trading terminals.

My Key Takeaways After Testing Mobile App

MetaTrader 5 mobile app is designed to serve as a means to monitor and adjust trading positions on the go. Traders should not expect that the app will have the full power of the desktop platform for technical analysis.

4XC VPS

4XC offers the third-party VPS service HokoCloud. To be eligible for the free VPS subscription, clients should maintain an account balance of at least $5,000 and generate a minimum trading volume of at least 4 complete lots per calendar month.

4XC Copy Trading Service

4XC offers a copy trading service. Traders can copy the trades of strategy providers by choosing from a range of available fund managers.

Tradable Instruments

The number of available indices is high. The number of available forex pairs is moderate, while the number of commodities and cryptocurrencies is low.

What are CFDs?

CFDs (Contracts for Differences) are financial instruments that allow traders to bet on asset prices without actually holding the respective assets. The key advantage of CFDs is the access to significant leverage, which is typically not available when trading other instruments. Hence, CFDs are very popular in short-term trading.

My Key Takeaways After Exploring 4XC Tradable Instruments

4XC provides a fairly standard forex offering, which includes the most popular forex pairs, along with exotic options. The indices offering is well-rounded, and traders will find the biggest indices from developed markets. The broker offers a few commodities and cryptocurrencies, but it does not offer stock and ETF CFDs. Overall, the offering is tailored for forex and indices traders.

Customer Support

4XC Customer Support Test

4XC clients can contact the customer support team 24/7 via email, phone, and online chat. During my tests, I used the online chat.

I asked simple questions about account types and available leverage, as well as more challenging ones on the differences between MT4 and MT5 accounts.

During my tests, the initial response time was extremely quick. The answers to my questions were also quick and professional.

Deposit and Withdrawal

4XC Deposits

4XC clients can deposit funds via credit cards, bank transfers, e-wallets, and crypto. Processing times take up to 3 business days, but clients can find multiple methods with instant processing.

4XC Withdrawals

4XC clients can withdraw funds via credit cards, bank transfer, e-wallets, and crypto. Clients should note that the broker charges fees for most withdrawal methods, but several are free of charge. In general, withdrawals are processed within one business day.

First Deposit Bonus

4XC offers a 50% bonus on the initial deposit. The minimum deposit to request a bonus is 100 USD/EUR/GBP or 500 BRL. The bonus amount is limited to 1000 USD/EUR/GBP or 5000 BRL.

Account Types and Terms

What Account Types Does 4XC Offer?

4XC offers one spread-based account and two commission-based accounts. The Standard Account, which is a typical first choice of beginner traders, has the lowest minimum deposit and does not charge commissions.

However, spreads are higher compared to Pro and VIP Accounts. As usual, the VIP Account, which is available for clients who have deposited more than $10,000, offers the most attractive costs. Traders should note that the Islamic Account option is available exclusively on the Pro Account for only 30 days.

What is CFD leverage?

CFD Leverage allows traders to hold a position without paying the full value. Instead, you pay a deposit, which is called margin, while borrowing the rest.

In the 4XC case, traders have access to leverage of up to 1:500. This is a high level of leverage, so traders should use appropriate risk management techniques.

Maximum Leverage by Asset Class

4XC Account Opening Process

To open an account with 4XC, visit the broker’s website and click on “Live Account.” Traders can choose between two trading platforms and three types of accounts, and they can open an individual or corporate account.

The Live Account registration takes more time as traders must provide detailed information, including proof of identity, which is standard for the industry.

Demo Account

4XC also provides an opportunity to open a Demo Account, which is available for all account types. The Demo Account registration is swift, so you will quickly get access to the platform and the account of your choice.

Please note that your trading experience will differ when you use a demo account compared to a real-money account due to psychological factors, as traders find themselves under pressure when real money is at stake.

It’s a good idea to use the demo account for practicing and learning the trading platform, but do not spend too much time on the demo.

Islamic Account

4XC offers Islamic Account option for the Pro account, but its duration is limited to 30 days. Islamic Account provides Muslim traders with an opportunity to trade according to Sharia law. Such accounts do not have swap/rollover fees.

PAMM Accounts

4XC provides an opportunity to use a Percentage Allocation Management Module (PAMM) trading account. Such accounts allocate their funds to the PAMM manager of the client’s choice, allowing them to benefit from the expertise of a skilled trader for a performance fee.

Restricted Countries

4XC does not accept clients from the following countries: USA, Iraq, Iran, Myanmar, North Korea.

Research

Analysis IQ shows trading ideas for various instruments, which can be sorted by confidence, action, and class. The Economic Calendar is a plugin that shows the most important economic events that may impact market dynamics. Traders can sort them by their potential impact. Market Alerts and Signal Centre Trade Ideas also present trading ideas.

In addition, 4XC offers trading signals on its website. The signals can be sorted by markets, strength, and timeframe.

4XC also provides financial news, which are mostly focused on U.S. stock markets, which is somewhat strange as the broker does not have stock CFDs in its offering.

The articles published in the technical analysis section of the website discuss the news related to popular instruments but do not contain technical analysis.

Market Highlights are short videos discussing the most important economic events of the day.

Key Takeaways After Testing Research Tools

4XC research offering is focused on providing trading signals. These signals can be accessed via an MT4/MT5 plugin as well as on the broker’s website. In short, the broker’s clients will have access to multiple trading ideas that could be used as an inspiration for their own trading strategies. The analytical part of the offering is somewhat weaker. Traders can read some news related to popular instruments, but there is no in-depth analysis.

Education

4XC offers three e-books: “Introduction to Financial Markets,” “Technical Analysis Essentials,” and “Advanced Technical Analysis.” The books discuss basic trading terms and more advanced topics like chart patterns, Japanese candlestick patterns, and Fibonacci trading.

Traders also have access to MetaTrader video tutorials that discuss MT4/MT5 desktop platforms and MetaTrader 5 iPhone and Android apps.

The Bottom Line

Founded in 2018, 4XC provides a selection of popular instruments across various asset classes, including forex, commodities, indices, and cryptocurrencies.

Traders have access to the MetaTrader 4 and 5 platforms and the Acuity Trading Tool plugin for these platforms. The broker provides a decent choice of accounts and offers social trading and PAMM accounts. Free VPS is available for traders who meet certain criteria.

Overall, the broker offers competitive features for beginners and advanced traders alike. The trading fees are mostly in line with the industry standards, and traders can find good deals in certain instruments. Multiple deposit and withdrawal options and professional customer support team enhance the user experience in 4XC.

FAQ