4FXbroker offers as many as 5 account types, which can be divided into 2 groups: commission-free accounts with fixed spreads and such with variable spreads that also involve commission fees. Keep in mind that automated strategies and arbitrage trading are not available on Cent & Micro accounts.
In addition, this broker offers managed accounts (PAMM).
Like most brokerages, 4FXbroker supports the good old MetaTrader 4 platform. It is realiable, easy to use and offers solid charting, wide range of technical analysis indicators and Expert Advisors (automated strategies), as well as customization options.
Low initial deposit
You can open an account with 4FXbroker by investing just $5, while most similar companies require $100-$200.
High leverage levels offered
The maximum leverage levels available when trading with 4FXbroker are very high, reaching 1:1000. Although many brokers offer similar leverage ratio, we would not advise you to use them to the fullest. Trading on margin involves significant risks, so be careful.
By the time of writing of this review, 4FXbroker offers 100% welcome on-deposit bonus, 30% tradeable deposit bonus, as well as risk-free trading. Also, this broker organizes trader contests.
– Registered offshore
4FXbroker is one of the thousands of forex brokers that are registered offshore. Sunny islands such as St. Vincent and the Grenadines, Belize or the Marshall Islands offer low-cost incorporation, favorable taxes and few (if any at all) requirements to such companies. The thing is, clients of offshore brokers have no protection whatsoever if something goes wrong. That is why we generally don’t recommend them.
– High spreads or commission fees
Spreads on all commission-free accounts of 4FXbroker are above the average of 2 pips on EUR/USD (regarding fixed-spread brokers). Even Scalper account holders who invest at least $1000 with this broker, are charged both a commission fee and a percentage of the profit – something quite unusual in the FX world.
By comparison, with leading global brokerage FxPro, you can use a spread averaged 0.3 pips on EUR/USD with a commission of $4.5 per lot with an initial investment of just $100.
Limitations on trading on basic account types
As we have mentioned above, Cent & Micro account holders are not able to use MT4’s Expert advisers, nor arbitrage trading, which is an unusual and unnecessary limitation.
4FXbroker provides trading in forex, CFDs on indices, commodities and precious metals on the widely used MT4 platform with high leverage levels and many promotions offered. So far, so good. However, the cost of trading on most account types is rather high, there are some trading limitations on the two basic accounts, and most importantly, 4FXbroker is registered offshore, in SVG.
So, you’d better sign up with a trustworthy well-regulated broker. One of the most reputable financial watchdogs that oversees fx brokers, among other companies, is the Financial Conduct Authority (FCA). The FCA applies two major rules, which guarantee the security of your investment. First of all, your money is kept in segregated account, separated from the company’s assets. Second, there is the Financial Services Compensation Scheme (FSCS), which guarantees client funds up to £50,000 per account, if a regulated entity becomes bankrupt.
4FXbroker Review Conclusion
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