4XP (Forex Place) review
Jan 2014: SERIOUS PROBLEMS WITH THIS BROKER: AVOID AT ALL COSTS!!!!!!!!!
4XP (which is short for Forex Place) was founded in 2006 by a group of forex trading experts specialised in financial education services.
4XP provides traders with fixed prices and no commissions. 4XP's clients have direct access to the world's financial markets and they can trade a wide range of instruments. Currencies, commodities, stocks and indexes can be traded in real time using the MetaTrader 4 trading platform.
The multilingual customer service department and the trading room are open 24h/day, 6 days a week. Therefore, no matter where you are in the world, 4XP is just a phone call away.
4XP's website provides daily and weekly forex commentary, an economic calendar and current financial news. Traders can chat with their experts online 24h/day and discuss ideas and strategies.
The only thing I'm not a big fan of is the fact accounts are, by default, USD accounts. However, I have recently been informed that if you wish, your account can be converted into a euro account (you just need to contact your account manager and request that they convert it).
Zero-risk accounts for 30 days
Protected accounts allow you to trade without risk for 30 days. You keep the profits and any losses are for 4XP! Learn how to trade 100% risk-free!
Demo trading contest
1st place - Real account with 3,000€
2nd place - Real account with 1,500€
3rd place - Real account with 500€
ECN accounts
The ECN (Electronic Communication Network) account gives you direct access to forex market liquidity due to the absence of a dealing desk. Therefore, you can trade 4XP's financial products automatically. The ECN account offers you many benefits that will make trading much easier.
Advantages:
• Instant Execution
• No Re-quotes
• Floating Spreads – As Low as 0.3 Pips
• Low Commissions – $3.50
• Leverage 1:150
• Micro Lots Available
• Trade with Expert Advisers
• Friendly Customer Support
• Trade on Market Events
• Scalping and Hedging Trading Techniques
• Stop Loss and Take Profit
Classic accounts
With the Classic account you enjoy instant execution and a choice of over 170 tradable currency pairs, commodities, indexes and stocks. 4XP prides itself in providing you with honesty, integrity and service "par excellence".
Advantages:
• Guaranteed Fixed Spreads
• Instant Execution
• High Leverage (1:300)
• No Commissions or Hidden Costs
• Guaranteed Stop Loss and Take Profit
• Web-Based (No Download Required)
• Advanced Charting and Technical Indicators
• 24 Hour Multilingual Customer Support
• Suitable for All Traders
• Mini Accounts ($100)
• Free $50,000 DEMO account
• Daily Market Analysis
• Special Offer for Beginners – Risk Free Account for One Month