So many brokers, so many choices. What are you, as a trader, supposed to give importance to when you are scrolling down through lists of tenths of forex brokers? Is it security, the quality of customer support, the number of tradable pairs? Read on this forex review and we will try to guide you. Let´s start with presenting 4xCube, a forex/CFD brokerage firm regulated by the Financial Supervisory Commission FSC. With this broker, you can trade on Forex, indices, cryptos, and metals by using the MT4 platform and also their own trading platform Cube Trader.
In this 4xCube review, you will find all the aspects of this broker that are highly important for you to understand and make an informed decision. We would like to highlight the fact that the CEO and owner of this forex broker is Portuguese. This, in our opinion is a very nice change to most of the Cypriot-Russian forex brokers.
Overview of 4xCube
This Broker could be considered the perfect one for forex beginners. This is due to the fact it has its own proprietary platform that is focused on simplicity and entertainment. We all know that Forex can be a bit confusing and most users might feel overwhelmed with all the numbers and charts. But worry no more as 4xCube is here to help you out. Furthermore, 4xCube supports low entry capital for the clients with live trading starting from $5. This is something very advantageous to those who just want to give forex trading a try before investing more funds.
This 4xCube review shows that it is an execution-only broker and has no dealing desk NDD, this tends to delete any potential conflict of interest. Some Forex brokers that have a dealing desk are said to look to their bottom line before taking care of their users needs and winnings. Eliminating the human factor with an execution-only platform guarantees that the broker will not create additional hurdles and make your trading more complex than it is already. This system that the 4xCube broker offers is called Straight-Through Processing STP environment.
Apart from 4xCube offering True STP/ECN trading that has No dealing desk it also has no re-quotes. This means that without delay, all orders are made with a pool of 21 providers between ECN and Banks – Making your trading fast, simple and drama-free.
In addition, it also offers instant transactions as deposits and withdrawals are instantly processed according to the terms and conditions. This is extra useful when the market has high volatility moments, you do not want to lose that amazing opportunity to enter the market! Deposit now, and that really means NOW.
But that is not all, if you do not believe us, 4xCube has been awarded a few awards including AtoZ, International Finance awards 2019, Global Forex Awards, and Award Winners for 2019.
The registration details of 4xCube Ltd explain that it is registered in the Cook Islands with number ICA 12767/2018. With the license number MC03/2018, the Financial Supervisory Commission FSC also regulates it. The fact that this is a broker regulated offshore guarantees more flexibility when it comes to your trading. As an example, the leverage options are many more than those brokers with only a European regulation. As you might already know, the latest MiFID changes made it almost impossible for smaller-size traders to enter the market as it asked for leverage of 1:30 – While 4xCube offers up to 1:400.
But the fact that 4xCube is registered in the Cook Islands does NOT mean it is any less secure. Separate accounts are used to keep the funds of clients. This means that for daily expenses, the broker cannot use those funds. Furthermore 4xCube claims that the Binder Dijker Otte BDO audits the broker, that is a well-known accounting network and inspecting firms that will make sure the broker is not cheating or miss-using any of your funds.
Typical but nonetheless very important, 4XCube uses the SSL (Secure Socket Layer) cryptographic practice on their website, this provides digital safety, mostly for online business. In order to protect client data from hackers most companies use this encryption system.
In 2019, 4xCube became an affiliate of the Financial Commission. With this membership, clients are allowed to access a huge range of services and benefits. It also has an insurance fund in compensation that can be paid to investors in case of broker liquidation, this fund protects up to 20.000$ per submitted complaint.
When it comes to forex brokers it is very important to do your due diligence but also to keep forming yourself. Forex trading is not “a walk in the part” and hence, you have to keep reading and learning.
4xCube helps you with this task, by giving you access to daily charts and summaries and other useful analysis. When you keep up with the daily economical news, you are already on the winning side. Read, learn and understand the markets for a seamless experience navigating forex.
Additionally, they also offer you Webinars, interactive sessions in which you can keep forming yourself as a professional trader!
Sometimes, as you know, taking decisions on WHAT to trade is one of the most difficult parts of trading (well, it is mostly the only decision you have to take). In order to solve that issue, 4xCube offers Autotrading. This allows you to copy and/or find guidance on other, more experienced, traders. It is important for those traders who don’t have enough time to trade or want to highlight their own trading. It is also for those who want to get rid of all emotions from trading.
Below is a list of Auto Trading systems:
- MetaTrader 4 Signals
In the Financial industry, 4xCube is rising as a global entity with a group of experts that will work with you in developing your business. If you want to make a secondary income from trading you can also refer 4xCube to either your friends and family, or even create affiliate websites. This would in turn, create traffic and registrations for the broker and you would be rewarded for it.
In forex, one size does not fit all, and 4xCube knows that. With this Forex Broker, you can open three types of accounts that are Standard account, Pro account, and VIP account. You need to fund these forex accounts with $5, $1000 and $25000 respectively.
The maximum leverage for all these accounts is 1:400.
For beginner traders, this account offers you a live trading experience with minimum risks. The minimum account opening balance is $5, and the spread starts from 0.3 pips.
Traders of the intermediate level can get benefits from this account. Minimum $1,000 is needed to deposit, and the spread starts from 0.1 pips. At %3 per lot, commissions are charged.
For professional traders, this account requires a higher trading capital. A minimum of $25,000 is required to open an account, but it is worth it if you want cheaper trading. From 0.2 pips, the spread starts without any additional commissions. Every account holder will have an account manager with free deposits and withdrawals.
Apart from that, the Demo account is also available. You can practice this account in combination with experimentations and strategy testing. With virtual funds of up to $50,000, a typical demo account is preloaded. This gives you the option to test and create your own strategies without putting your funds at risk.
Deposit & Withdrawal Options
Users can make payments through their own bank accounts. It is important that these accounts have the same name as the 4xCube accounts, as third-party payments are not allowed.
Below you can find a list of all the acceptable payment options:
- Bank Transfer
- V Load Voucher
- WeChat Pay
- Union Pay
- Perfect Money
Mobile Trading Platforms
This forex broker offers you the most well-known platform globally. The MT4 has mobile apps available for Android and iOS that can be downloaded from stores. But also their own CubeTrader proprietary trading platform that is, for some, easier to use!
For mobile trading, the 4xCube MT4 platform is available, you can download easily on your Android device and iOS device. Virtually, the MT4 mobile apps are enriched with many features of the desktop version. It lets clients observe the market from anywhere, any time.
Here are a few features of the MT4 app:
- Live quotes and live charts on the app
- The app has a simple interface, too quick and user-friendly
- Clients from the app can place trades, or change and close orders
4xCube is a broker owned by Portuguese traders with more than 20 years of experience. The FSC regulates this broker and It offers low spreads and funding options. Many options that cut across several categories such as e-wallet and online payment solutions are available in this broker.
4xCube has a news and analysis that share information regarding the markets of the day and cover different currencies. Apart from that, they offer Webinars and many tools that are useful to traders, such as forex signals and autotrading softwares. 4xCube also offers multilingual support with the customized partnership options commission based.
The Platform MT4, together with its own CubeTrader platform, is suitable for different kinds and levels of traders. However, it does not have many tradable instruments that you may find on other platforms. This seems to be the perfect platform to start with as a Newby. Webinars, tools, great Customer Support and many other available resources make it one of the best in this current overcrowded forex market.
Try it out and let us know your experience!