4XP boasts tight competitive spreads, free training and education, a 24 hour trading experience, and a strong customer support team. On the whole, the educational material provided by this broker seems most interesting. The online forex guide has eight sections covering the topics of fundamental and technical analysis, and the basics of trading in some detail, and while it is not comparable to investopedia, the amount of information is not to be belittled.
Apart from the interesting educational material, basic daily market analysis by TradingCentral, calendars, and other resources are available. As a rule of thumb, the company focuses on providing technical, rather than fundamental analysis for idiosyncratic reasons explained on the daily analysis page.
The platforms available at 4XP.com include MetaTrader 4, the beta version of MetaTrader 5, MetaWeb and 4XP`s own platforms which include the 4XP Options, 4XP AutoTrading, 4XPHONE, and a mobile platform for the iPhone.
All the major currency pairs, metals, oil and gas, indices and shares of major companies are available for spot trading. The typical lot size is a bit large at $100,000 per transaction, while the mini lot size is $10000, and maximum leverage is 300:1, which is above the customary limits in the U.S. Spreads for the EURUSD are fixed at 3 pips which is the industry standard.
Charting tools and technical analysis are supplied by the popular and efficient MetaTrader platform.
Deposits and Withdrawals
A demo account, an ordinary account, and a VIP account are available. The VIP account differs from the standard one by making available one-on-one coaching by a staff member of the company. All types of accounts receive varying levels of educational material in porportion to the size of initial size.
Visa, DinersClub, MasterCard, Payoneer, and other major credit cards are accepted, along with NeTeller, Moneybooker.com, Liberty Reserve, and WebMoney deposits. Bank wires are also welcomed by the firm.
The initial deposit requirement is $100. Deposits in USD, EUR, GBP and CHF are accepted, but the account is always denominated in USD, so when the client withdraws his funds, additional currency conversion charges will be incurred.
Withdrawals are initiated by faxing a number of identification documents to the company. Although there are no charges applied by 4xp.com, sometimes extra costs imposed by intermediaries must be born if the client chooses to make a deposit via bank wire.
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Customer support staff is multilingual, and is available 24 hours a day, six days a week. As usual with forex and options brokers, great attention is paid to keeping customers happy. The VIP account receives one-on-one coaching and unlimited access to webinars, while standard clients are expected to be satisfied with the comparatively generous material available online, along with periodical access to webinars.
4XP.com announces its commitment to excellence in customer service throughout its website, and there is reason to expect that this is indeed one of its stronger and more advanced aspect as a broker.
The availability of a considerable amount of educational material sets 4xp.com apart, to some extent, from its competitors. The company seems to have an exquisitely high standard of customer satisfaction. The trading platform is the standard MetaTrader 4, the robust, time, and market-tested high quality software that has been adopted across the industry.
4xp.com impresses us especially in the way it popularizes forex by focusing on education, with the evident purpose of making forex everyone`s favorite financial sport. The firm espouses the principle that forex trading is not, and need not just be about making money, but also about excitement, fun, and education, and by providing a colorful, and enjoyable environment for trading and practice, it fulfills this purpose, and reaches the benchmark that it has set for itself.