Our Review of 4XP Investments and Trading
4XP Investments and Trading Review
4XP Investments and Trading, which also goes by the title Forex Place, is owned and operated by Mika Holdings Inc. This company is operated out of the British Virgin Islands and tends to be considered one of the Forex brokerages that offer the most diversity with regards to what can be traded. It has the platforms that will allow traders to engage the Forex market, as well as binary options. It has ECN trading capabilities. 4XP Investments and Trading was established in 2007.
There are many different types of accounts are available from 4XP Investments and Trading. The first is the Classic account, which offers uses MetaTrader 4/5 and has over 170 different types of currencies, commodities, indices, and stocks to choose from. There are also the Mini account and Super Mini Account, which allows people to trade on the EUR/USD. The Mini account has 1:300 leverage. Advanced Execution accounts have 1:400 leverage execution. Finally, there are also accounts that allow access to binary options and ECN.
Commissions & Spreads
The spreads for the Super Mini account, the Mini account, and the Classic account is 3-5 (Majors) fixed. The spreads for an ECN account and an Advanced Execution account are 0.3 to floating. There is no spread on the Binary Options account. The only account that is charged a commission is the ECN account, which is charged between $3 and $7 per trade.
There are a few different trading platforms that a members of 4XP Investments and Trading can use to enter the various markets. The first is MetaTrader 4, which is primarily used to trade on the Forex market. This software is excellent for both beginners and experts because it has a very clear walk-through, but it also has enough options to optimize the trading platform so it best meets the needs of the trader. Another type of software available is 4XPHONE, which can be used on Apple iPhones to make trades throughout the day while travelling. Another trading software is the 4X Web Trader, which allows the trading platform and account to be accessed with practically any account from any device that is able to access the Internet. 4XP option is the binary options trading platform, and 4XP Auto Trading is the best beginning software because it automatically updates and manages the account.
Deposits & Withdrawals
The minimum deposit for 4XP Investments and Trading is $100. Any deposits are made to the Commberzbank in Frankfurt and are heavily secured. Deposits can be made with any of the major credit cards, as well as Moneybooker.com and other online web depositing services. Withdrawals can be made using a money transfer to the bank of choice, although there have been problems reported getting the initial deposit out.
Customer support is offered twenty four hours a day, from Sunday until Friday, with Saturday being the day that customer support is not offered. Customers can submit complaints or other issues and easily expect that a customer service representative will get back to them fairly quickly. There is also a fully comprehensive set of educational videos and articles that explain what Forex trading is and how people can be successful while trading on the Forex Markets.
Regulators & Safety
4XP Investments and Trading is regulated by the Financial Market Relations Regulation Center (FMRRC) Russian Federation. It has the license number RU 0394 AA Vv0023. It is not regulated by any European regulatory body, or any US regulatory body (US citizens are not allowed to trade using this company).
The maximum leverage that is available is 1:500. There are also 1:250, 1:300, and 1:400 leverage levels available, depending on the account that a person chooses to open. The account that has the highest leverage is the Super Mini Account.
Sign Up Bonuses (if any)
There is a bonus when a person first deposits money into a 4XP Investments and Trading account, and the amount of the bonus is determined by the volume of the transaction that is first made with the deposit.