4XFX Review
- Great trading platform
- Wide array of financial assets
- Variety of deposit and withdrawal options
- Not regulated
- New and inexperienced
- Poor customer support
- Lacking transparency
4XFX is an online trading brokerage that offers the ability to trade a wide variety of financial assets across the global markets. The brokerage was only recently established in March of 2018 and claims to already serve over 46,000 active traders from 76 countries. 4XFX is owned and operated by GRF EUROPE OÜ and is based offshore with their headquarters located at Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K397, 10119, Estonia. Though 4XFX is based in Estonia, they are not authorized or regulated by The Estonian Financial Supervision Authority (EFSA) or any other regulatory authority. This raises some concerns as any trading brokerage based out of Estonia is supposed to be licensed and regulated by the EFSA by law. However, the brokerage is still very new and may be going through the process of becoming regulated. With so many online trading brokerages to choose from, how do you know which one is best for you? It’s a hard decision, but we’re here to make it easier for you by shining light on the 4XFX online trading brokerage in our in depth review below.
Trading Platform
4XFX claims to feature not one but three highly sophisticated trading platforms. The first of which is their very own proprietary web based trading platform that’s accessible from any computer or mobile device via the web browser interface. No download, sophisticated hardware, or installation is required, and the platform still operates very smoothly. The official name of 4XFX’s proprietary trading platform is 4XFX WebTrader and it features an unrivaled design and advanced functionality. The platform is extremely user friendly and provides a seamless and intuitive trading experience for both beginner and experienced traders. The platform comes complete with an advanced charting package that features 6 different chart types, 8 different time frames, and an extensive list of built-in technical indicators. All in all, this 4XFX WebTrader platform is more than sufficient for all types of traders.
As for the other two trading platforms 4XFX claims to provide, they are actually nonexistent. 4XFX advertises that they offer a Meta Trader 4 (MT4) trading platform to download and trade with, however, this is not the case. Also, 4XFX says they have a state of the art mobile trading application with imperative functions and features. However, this platform is not yet available and 4XFX claims it will be coming soon.
Exchange Markets
4XFX provides traders with an extensive array of financial products to trade across various global markets. For instance, traders can participate in the trading of forex, commodities, indices, stocks, and cryptocurrencies. See these markets overviewed below.
Forex
- Majors, Minors & Exotics
- Low spreads
- High leverage of up to 150%
Commodities
- Gold & Oil
- Trade with high leverage
- Best rates and low spreads
Indices
- Access to the most popular international markets
- long and short trading positions
- Low margin
Stocks
- High leverage options
- Low commissions
- Extended trades after market hours
Cryptocurrencies
- CFDs on the most popular cryptocurrencies
- High leverage
- Flexible contract size
Fees and Commission
An unfortunate aspect of the 4XFX online trading brokerage is their lack of transparency with associated trading fees and commissions. 4XFX does not state anywhere on their site about their fees and commissions. This is quite common with unregulated offshore trading brokerages and is usually a massive red flag to avoid the broker. Often times, unregulated trading brokerages that are located offshore impose unfair hidden account fees which are very unreasonable. Since 4XFX does not state anything regarding fees, we have to assume they are not favorable.
Security and Fairness
4XFX appears to be a reputable online trading brokerage that provides safe and reliable online trading services, but the fact of the matter is that 4XFX is very new and unregulated without a viable reputation. The broker has yet to establish a reputation worth trusting especially since they are located offshore and are not regulated. As well, 4XFX does not specify whether they hold their clients funds in segregated bank accounts and they are not apart of any sort of investor compensation scheme. For these reasons among others, it’s uncertain how fair and secure 4XFX really is.
Support
The level of customer support provided by 4XFX is subpar at best. The support representatives are not very informative with their responses as they are very concise with not much effort put into them. Support representatives can be reached via email and telephone, 5 days a week from 05:00 – 22:00 GMT. Currently there are no additional methods of support such as a FAQ page, education center, or social media. They do however plan on adding educational content in the future.
Conclusion
All in all, 4XFX appears to be an unfinished and unpolished online trading brokerage that has a ways to go before they can compete with reputable online trading brokerages. The brokerage is still very new and has yet to build a viable reputation for themselves and are yet to be regulated. Also, 4XFX is not very transparent with various aspects of their services and the overall brokerage seems to be rather incomplete. However, the proprietary 4XFX WebTrader platform is quite sophisticated and accomodates the needs of both beginner and experienced traders. Overall though, we advise traders proceed with extreme caution when dealing with the 4XFX trading brokerage.
4XFX Q&A
The following are the common questions that customers inquired about CMC markets.
Is 4XFX regulated?
No, it is not regulated by any reputable regulatory authorities.
Is 4XFX a scam?
Not sure, 4XFXis still very new and has not proven themselves to be a scam or legit broker as of yet.
Where is 4XFX based?
4XFX is based at Harju maakond, Tallinn, Kesklinna linnaosa, Roosikrantsi tn 2-K397, 10119, Estonia.
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