General Information
4XC, a trading name of Geomatrix Ltd, is allegedly a forex and CFD broker registered in the United Kingdom with registration no. 12767/2018 and license number MC03/2018. The broker claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and variable spreads from 0.2 pips on the MT4 for Windows, iOS, Android and Webtrader, and MT5 for Windows, iOS and Android trading platforms, as well as a choice of three different live account types and 24/5 customer support service.
4XC is a forex broker offers various account types, high leverage, multiple deposit/withdrawal methods, advanced tools, educational resources. However, concerns arise due to the lack of stringent regulations in the Cook Islands, where it operates, raising issues of financial crimes and money laundering. Traders should consider the varying spreads and commissions based on account types and the potential commission fees for high-volume traders in the Pro and VIP accounts.
Here is the home page of this brokers official site:
Pros and Cons
Regulation: No regulation.
In the absence of regulation, several key characteristics can arise:
Lack of investor protection: Without regulatory oversight, there are no safeguards in place to protect investors from fraudulent activities, scams, or unfair practices. Traders may be exposed to higher risks, as there are no mechanisms to ensure transparency, accountability, or proper handling of investor funds.
Absence of compliance obligations: Unregulated forex traders are not required to comply with specific rules or standards related to capital requirements, risk management, reporting, or transparency. This lack of compliance obligations can lead to increased operational risks and potentially unethical behavior.
Limited transparency: Regulated forex markets often require traders to disclose relevant information about their operations, financial health, and trading practices. In the absence of regulation, there may be a lack of transparency regarding trading strategies, execution practices, or conflicts of interest, making it difficult for investors to make informed decisions.
Potential for manipulation: Without regulatory oversight, there is an increased risk of market manipulation, insider trading, or other fraudulent activities. This can lead to price distortions, unfair advantages for certain market participants, and decreased market efficiency.
Inconsistent trading conditions: In unregulated forex trading, there may be variations in trading conditions, including spreads, leverage ratios, and execution speeds. The absence of standardization can result in an uneven playing field and make it challenging for traders to compare different offerings.
It is important to note that engaging in forex trading with regulated brokers or within regulated markets provides investors with greater protection, transparency, and recourse in case of disputes. Regulatory oversight helps to maintain the integrity of the market and promotes a level playing field for all participants.
Negative Reviews
Some traders shared their terrible trading experience on the 4XC platform at WikiFX. They said this platform is a scam and they were unable to withdraw. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.
Market Instruments
4XC advertises that it offers access to a wide range of trading instruments in financial markets, including forex, metals and oil, index CFDs, cryptocurrencies and stocks.
Forex, which stands for foreign exchange, is one of the principal trading instruments available on 4XC. It is the market where currencies are traded, and 4XC provides its clients with the ability to trade currency pairs, where you are buying one currency and simultaneously selling another. This is an extremely liquid market that operates 24 hours a day during weekdays, making it a popular choice for many traders.
In addition to Forex, 4XC also allows clients to trade in precious metals. This category of instruments primarily includes gold and silver. Trading in metals is often considered a safe haven investment, especially during times of economic uncertainty. Precious metals can also serve as a hedge against inflation and currency devaluation, and are hence an important component of a diversified trading portfolio.
Furthermore, 4XC provides the option to trade Index CFDs. CFD stands for Contract for Difference and is an agreement to exchange the difference in value of a particular asset between the time the contract is opened and when it is closed. Index CFDs allow traders to speculate on the price movements of stock indices, such as the S&P 500 or the Dow Jones Industrial Average, without the need to own the underlying stocks.
The energy sector is not left out as 4XC avails trading in Oil. This instrument allows traders to speculate on the movements in the prices of various oil contracts. Given that oil is a highly volatile commodity with prices influenced by geopolitical events and supply-demand dynamics, it offers ample trading opportunities.
Cryptocurrencies are another category of trading instruments that 4XC offers. Cryptocurrency trading involves the buying and selling of digital currencies like Bitcoin, Ethereum, and other altcoins. This market is known for its high volatility and has gained immense popularity in recent years due to the potential for high returns.
Lastly, 4XC offers Forward Contracts. These are non-standardized contracts between two parties to buy or sell an asset at a specified future date for a price agreed upon today. Forward contracts are often used for hedging and are traded over-the-counter.
Account Types
4XC claims to offer three types of trading accounts, namely Standard, Pro and VIP. The minimum initial deposit amount is $10 for MT4 and $100 for MT5 on the Standard account, while the other two account types have much higher minimum initial capital requirements of $100 for MT4 and MT5, and $25,000 for MT4 and MT5 respectively.
Standard Account: This account is suitable for all types of traders and investors, offering a minimum deposit of 50 USD for both MT4 and MT5 platforms. The Standard Account provides access to 82 trading instruments with a maximum leverage of 1:500 and a minimum floating spread of 1.0 pips. The minimum lot size is 0.01 Lots, and there are no restrictions on positions or trading strategies.
Pro Account: Designed for more experienced traders seeking a professional advantage, the Pro Account requires a minimum deposit of 100 USD for both MT4 and MT5 platforms. It offers the same maximum leverage of 1:500 as the Standard Account but with a minimum floating spread of 0.0 pips plus a $5 commission per round 1.0 Forex lot.
VIP Account: The VIP Account is tailored for High-Net-Worth Individuals, requiring a minimum deposit of 10,000 USD for both MT4 and MT5 platforms. It offers the same maximum leverage of 1:500 as the other accounts, but with a minimum floating spread of 0.0 pips plus a $4 commission per round 1.0 Forex lot
Leverage
The leverage provided by 4XC is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
4XC claims that different account types can enjoy quite different spreads and commissions. Specifically, clients on the Standard account can experience floating spreads from 0.8 pips, the VIP account holders have floating spreads from 0.6 pips, while the Pro account members can enjoy floating spreads from 0.2 pips but have to pay a $2/lot commission per side.
Standard Account: The Standard Account offers a minimum floating spread starting from 1.0 pips. There are no commission fees for this account type, making it a cost-effective choice for traders who prefer a straightforward cost structure.
Pro Account: The Pro Account offers a lower minimum floating spread starting from 0.0 pips. However, this account type charges a commission of $5 per round for a 1.0 Forex lot. This account type might be suitable for more experienced traders who trade frequently and can benefit from the lower spreads.
VIP Account: The VIP Account offers the same minimum floating spread as the Pro Account, starting from 0.0 pips. However, the commission is slightly lower at $4 per round for a 1.0 Forex lot. This account type is designed for high-net-worth individuals who trade in large volumes.
In summary, 4XC offers a range of spreads and commissions to suit different trading strategies and volumes. Traders should consider both the spread and commission costs when choosing an account type to ensure it aligns with their trading strategy and frequency.
Trading Platform Available
4XC offers multiple trading platforms to cater to the diverse needs of its traders:
MetaTrader 4 (MT4): MT4 is one of the most popular trading platforms in the forex industry. It offers advanced charting tools, numerous technical indicators, and supports automated trading through the use of Expert Advisors (EAs).
MetaTrader 5 (MT5): MT5 is the successor to MT4 and offers additional features such as more timeframes, advanced pending orders, and a built-in economic calendar. Like MT4, it also supports automated trading with EAs.
Webtrader: For traders who prefer to trade directly from their web browser without the need to download or install any software, 4XC offers a Webtrader platform. This platform is accessible from any device with an internet connection, providing flexibility for traders on the go.
These platforms offer a range of features to support different trading strategies, including advanced charting tools, numerous technical indicators, and support for automated trading. Whether you're a beginner or an experienced trader, 4XC has a platform that can meet your trading needs.
Deposit & Withdrawal
Deposits:
4XC offers a wide array of deposit and withdrawal methods to cater to its global clientele. These methods cover traditional banking options, credit cards, digital payment methods, and even cryptocurrencies.
For instant and free transfers, clients can use Visa, Mastercard, Alipay, Pix, Advcash, Globepay, Neteller (for non-EU clients), Skrill (for non-EU clients), Sticpay, MPESA, Perfect Money, Union Pay, Help2pay, Pay CP, and Dive Pay. These methods support various currencies including EUR, USD, GBP, BRL, INR, KES, CNY, and more.
For those who prefer to use cryptocurrencies, 4XC accepts Bitcoin, Bitcoin Cash, Ethereum, Dash, and Tether. These transfers can take up to 24 hours and require a minimum deposit of $50.
Fasapay is another option for instant transfers, but it comes with a 0.50% fee and supports IDR and USD.
Pay Retailers is a unique option that supports a variety of currencies including ARS, BRL, CLP, COP, CRC, GTQ, MXN, NIO, and PAB/PEN. However, transfers using this method can take 2-3 business days.
In summary, 4XC provides a comprehensive range of deposit and withdrawal methods, making it possible for clients to manage their funds in a way that suits their needs and preferences.
Withdrawals:
Withdrawals are limited to one per day per account, in order to minimize payment provider fees. This does not apply to VIP accounts. Withdrawals processed within 48h after deposit, will be debited by the full amount of deposit charges incurred by 4XC. Withdrawals processed by clients that haven't traded since the deposit, will be debited by the full amount of deposit charges incurred by 4XC.
Funds may only be withdrawn to clients personal accounts in order to ensure financial security and prevent money laundering. The company will not accept direct payments or payments to third parties; clients are given all necessary information in their personal area when completing a transaction.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. If a deposit or withdrawal is not carried out instantly, it will be completed within 24 hours. Withdrawal requests made on weekends may be restricted depending on the payment method selected.
Please note the following conditions:
Withdrawals are limited to one per day per account, in order to minimize payment provider fees. (This does not apply to VIP accounts)
Withdrawals processed within 48h after deposit, will be debited by the full amount of deposit charges incurred by 4XC.
Withdrawals processed by clients that haven't traded since the deposit, will be debited by the full amount of deposit charges incurred by 4XC.
Funds may only be withdrawn to clients personal accounts in order to ensure financial security and prevent money laundering.
The company will not accept direct payments or payments to third parties; clients are given all necessary information in their personal area when completing a transaction.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. If a deposit or withdrawal is not carried out instantly, it will be completed within 24 hours. Withdrawal requests made on weekends may be restricted depending on the payment method selected.
The company shall not be liable for delays in processing deposits and withdrawals if such delays are caused by the payment system.
Internal transfers between accounts of the same type are performed same day. For urgent transfers please liaise directly with our Support Team.
If a client funds his/her trading account using multiple payment systems or multiple wallets within the same payment system, funds must be withdrawn in proportion to the amounts deposited.
The company retains the right to change the processing time for deposits and withdrawals without notifying clients in advance.
The company may place limits on the payment systems available to clients from certain countries.
Clients with VIP accounts are not charged deposit & withdrawal fees.
Bonuses
4XC claims to offer a 50% first-time deposit bonus. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Trading tools:
4XC provides a variety of advanced trading tools to assist traders in making informed decisions and to enhance their trading experience:
PAMM Accounts: PAMM (Percentage Allocation Management Module) accounts are a unique offering that allows experienced traders (managers) to manage the funds of other traders (investors). The manager sets up a PAMM account with initial capital and a trading strategy. Other investors can choose to follow and invest in this strategy. As the manager's trades produce profits, the investors share in those profits, minus the manager's fee (in this case, 20%). The manager can gain more clients and increase returns by publishing their trading strategy on the platform. Investment growth allows the manager to earn a commission from performance fees.
HokoCloud: HokoCloud is an easy-to-use, broker-agnostic trading platform that allows you to replicate trades in real-time between your own MT4 accounts, or follow any public strategy of your choosing, with full control of your risk-return objective. It's a turn-key solution for traders and IBs, requiring no software installation or VPS. Traders can make their own strategy public and earn with their followers. It's completely free for 4XC account holders.
MT Strategy: This tool takes the guesswork and emotion out of trading by providing access to thousands of trading strategies and signals from successful traders in real-time. It offers over 3200+ free and commercial signals, allowing traders to automatically copy the deals performed by other traders in real time. It's a part of the worlds most popular electronic trading platform, MT4, which offers plenty of experienced users, shortcut keys, default templates, backtesting tutorials, and more.
These tools and features can help traders at 4XC to navigate the markets more effectively and to develop and implement a wide range of trading strategies. However, it's important to remember that trading involves risk, and traders should ensure they understand these risks before they start trading.
Customer Support:
4XC has established a customer support system that operates five days a week, 24 hours a day. For any inquiries or assistance, customers can reach out to the support team via email at support@4xc.com. Alternatively, for more immediate or direct communication, customers can contact the support team by phone at +44 203 514 9306.
The customer support team at 4XC is prepared to assist a wide range of clients, from those who are new to trading and may need more basic guidance, to experienced traders who may have more complex or specific inquiries.
As is the case with all brokers, the experience with customer support may vary from person to person. Therefore, it is generally recommended for potential clients to evaluate the broker's customer support services before deciding to commence trading activities with them.
Educational Resources
4XC offers an array of educational resources designed to enhance the trading skills and knowledge of its clients, ranging from novices to experienced traders.
Starting with News & Analysis, 4XC provides an Economic Calendar which is an invaluable tool for traders. It details all the major economic events and data releases that can have an impact on the financial markets. Staying abreast of these events is critical for formulating trading strategies. In addition, Market News is provided to keep traders up-to-date with the latest happenings that could affect their trading positions. Market Analysis provides in-depth insights into various financial assets and markets, helping traders make informed decisions. Lastly, Market Trends assists in identifying the general direction in which the market is moving, which is vital for both short-term and long-term trading strategies.
In the Guides section, 4XC offers Platform Tutorials which are designed to help traders familiarize themselves with the trading platform. This is especially beneficial for beginners who need to understand the functionalities and features of the platform. The Beginners Trading Guide serves as a foundation for those who are new to trading. It covers the basics of trading, including terminologies, how to place trades, and basic strategies. On the other hand, the Advanced Trading Guide is tailored for more experienced traders, delving into complex strategies and in-depth market analysis techniques.
4XCs Courses section offers a structured approach to learning with the Beginner Trading Course, which is ideal for those starting out. It provides an overview of trading and introduces basic concepts and strategies. The Advanced Trading Course takes this a step further, exploring advanced techniques and strategies for those who already have a grasp on the basics. The Expert Trading Course is designed for seasoned traders and focuses on specialized strategies and tools that can be used to gain an edge in the markets.
FAQs:
Q: What is 4XC？
A: 4XC, also known as 4XCube, is a forex broker established in 2018. It offers trading options in over 65 forex currency pairs, indices, stocks, CFDs, Bitcoin, gold, and silver.
Q: What trading platforms does 4XC offer？
A: 4XC offers the MetaTrader 4 and MetaTrader 5 forex trading platforms.
Q: What types of trading accounts does 4XC offer？
A: 4XC offers three types of accounts: Standard, Pro, and VIP. Each account type has different requirements and offers different features.
Q: How can I contact 4XC's customer support？
A: 4XC's customer support is available 24/5 and can be reached via email at support@4xc.com or by phone at +44 203 514 9306.
Q: Does 4XC offer a partnership program？
A: Yes, 4XC offers an Introducing Broker (IB) program. An IB is a partner representing the broker, who attracts traders and receives a part of the spread paid by the referral as a reward. The reward amount depends on the referrals trading volume.
2024-07-29 15:05
2024-07-23 17:28
