Business

4XCube Review – Is It a Reliable Forex Broker?

You must be equaling with me that Forex is a genuinely dangerous profession to spend your money. Only courageous people would choose to finance in Forex. In 2018, a Forex brokerage, called 4XCube was organized. It practices the most successful MT4 program and contributes many accounts. Though it is engaging in its forms, however, we cannot say whether it is trustworthy or not. Here we will explain everything regarding this broker. Let’s discover out what is in the case.

4XCube is a CFD and a Forex brokerage platform that is enrolled in the Cook Islands. In the Cook Islands, the Financial Supervisory Commission (FSC) authorizes it. You will notice an alternative to exchange Forex, records, materials, and cryptos on the MT4 program. A business established in Roratonga, Cook Islands, first discovered it in 2018. Although it is a novel broker, still 4XCube pretends to have a crew with more than 20 years of practice all over various markets.

Furthermore, 4XCube stays low entry capital for its customers, with active dealing beginning from as little as $5.

4XCube shows that it is an execution-only agent without dealing desk (NDD). The name serves the Straight-Through Processing (STP) broker basis. To a supply of 21 liquidity, client requests are routed, and providers guarantee speedy performances with no re-quotes. All sorts of dealers and all trading policies, as well as methods, are allowed with a broker. 

Characteristics of 4XCube 

According to 4XCube review, the enterprise model of this brokerage surely relies on the progress of their customers. They have got a place to assemble technology, ultra-low ranges, discovery, and secure execution with outstanding customer assistance. As an execution-only broker without trading desk, they allow all kinds of traders and dealing tactics, creating the optimal conditions for completion.

MT4 Availability 

As you previously know that 4XCube sustains the most widespread trading program, the MetaTrader4 (MT4). The main idea behind why more than 80% of all the dealers prefer doing it is because the MT4 is simple to use, and gives plenty of functional traits and tools. For instance, the charting package of the platform is the best, and it is individually famous for its exchanging bits, which are recognized as Expert Advisors.

Low Spreads, High Leverage Levels 

Dealing conditions are kind of 4XCube, and the advantage levels presented are high. It gives 1:400 that will serve the needs of virtually all kinds of dealers. Nevertheless, keep in mind, the more the advantage, the greater the risk of failure.

Additionally, the dealing cost with this agent appears low, and the original deposit needed is not important. And benchmark EUR/USD spread is hovering around 0.8 pips and no charge practices.

On the other hand, keep in mind that the value of buying is not an imperative measure while taking a Forex broker. Even if a financier offers the shortest spreads possible, what variation does it make, if it would not let you depart?

Side Effects of 4XCube 

Not Directed by a Legitimate Government Agency 

According to the 4XCube review, it is controlled and manipulated allegedly by 4XCube Limited. Concerning the data possible on the website of 4XCube, the Financial Supervisory Commission (FSC) in the Cook Islands, this firm is authorized and managed. 

In the South Pacific, this little island positions with administrative connections to New Zealand. The community in the South Pacific is about 20,000 people. Periodic inspections of recorded companies are done with the aid of FSC. 

The FSC sends out regular inspections of recorded companies, which covers the items under the Money-changing and Remittance Businesses Act, for example, 4XCube. Agreement with KYC is also controlled with AML statutes. On the other hand, a money-changing and payment consent with the Cook Island of FSC can never be correlated to a commercial assistance provider consent issued by UK’s FCA or CySEC in Cyprus. 

Unlike CySEC of FCA, the assignment of Cook Island does not have large capital capacity requirements for Forex agents, nor compels them to communicate performance scheme. Well, these figures really value to clients of Forex agents, it makes certain that their investments and funds are preserved. Moreover, in refined nations such as the UK, a money-changing & enclosure license would not permit the substance to offer to purchase in any CFDs. 

Limited Choice of Assets on Demo Accounts 

According to the proper website knowledge, you can purchase Forex, Metals, Indices, Cryptos, and Materials with 4XCube. When a demo MT4 account is started, less than 30 money pairs were possible for dealing as well as gold & silver. On the other hand, the broker deserves that the demo accounts don’t extend the comprehensive range of commercial products for dealing, which is accessible only to live account owners. 

Security of Funds

Account Privacy

4XCube keep stocks of clients completely separate from the company’s and are stocked with certain banks in individual accounts. With the guidance of essential coding, client accounts are prepared to make sure they are practiced only for client funding. The business offers full security of client supplies for as long as they choose to keep them. The firm does not use client funds for operational or financing schemes, and all accounts are controlled and monitored by our surface and interior auditors.

BDO Audited 4XCube

This brokerage firm is fully compliant with established internal and outside company reviews. BDO completed its External Audit, which is one of the biggest and trustworthy Audit firms in the world.  

Member of the Financial Commission

On February 25, 2019, 4XCube standing as a Member of the Financial Commission observed outcome and following the support of its association form by the Financial Commission. Thus the clients have admittance to a huge variety of services and group benefits, including, but not restricted to, stability for up to €20,000 per proposed obedient, backed by the benefit fund of the Financial Commission.

Partnership with Banks

4XCube amazingly runs with some banks whose authenticity is behind the question. On the page of “Deposit and withdrawal options,” you can discover out more features about these banks.

Advanced Encryption Technology

According to the 4XCube review, it practices the SSL (Secure Sockets Layer) cryptographic order that grants safe connections for making trades. From being obtained by third parties or being removed while its command, the data is encrypted. Further, it is transferred all at once to make sure that it lingers intact.

Simple Trading Form and Information Policy

To make sure the whole clearness of businesses, 4XCube has done everything. 4XCube sticks to a severe set of commercial standards and are forced to report our actions to the supervisory authorities annually.

 Investor Security and Regulations

Booking details of 4XCube Ltd confirm that it is recorded the Islands with number ICA 12767/2018. FSC, the Financial Supervisory Commission with the permit number MC03/2018 also controls it.

The funds of customers are held in separate reports with some of the biggest banks. Agents don’t practice it for day-to-day running costs. According to the 4XCube review, Binder Dijker Otte BDO inspects it, which is a reliable global system of accounting and auditing firms with a propinquity in over 190 countries. Other than that, 4XCube adopts the SSL (Secure Socket Layer) cryptographic protocol, which allows digital safety, particularly for doing online businesses. All the data of clients encrypted to evade them from being obtained by hackers during communication over the internet.

In February 2019, 4XCube turned to a portion of the Financial Commission. Group grants these body customers of 4XCube path to a vast range of settings and company interests. It holds an indemnity fund in coverage that will be paid to investors in case of agent liquidation. 

Account Opening

4XCube review displays possible types of accounts for the customers of 4XCube. These accounts combine the Standard account, Pro account, and VIP account. The break balances for the account are $5, $1000, and $25000, sequentially.

The highest leverage possible for all account types is hooked at 1:400. Below are the account types:

Standard Account:

Standard account type is for novice traders who want to undergo live dealing with least risks. For this account, the smallest opening balance is $5. The range starts from 0.3 pips. Agent charges are distributed into the light spreads as no payments are charged.

Pro Account:

Pro account model is intended for intermediate-level dealers. The smallest amount to coat is $1,000, and the range rises from 0.1 pips. Fees are charged at $3 per lot.

VIP Account:

Pro account class is for those expert traders who have access to lots of speculation capital. The smallest account opening expense is $25,000, and the range starts from 0.2 pips. No fees are charged in this account. Account-holders get a committed account supervisor and free securities and departure.

Opening a Demo Account

With 4XCube, demo accounts are also accessible. Demo accounts are beneficial for clientele, experimentations, and plan testing. Typically a demo account is preloaded with practical funds of up to $50,000. Click on the “Register” key to open an account, which is located on the right-hand side of every webpage on the website. On the other side, click on any of the “Open Account” buttons accessible on the homepage and some other sides. 

Fill up the advertised form and click “Sign Up.” You will get an email containing a login ID and password to the specified email address. By agreeing on it, you will immediately be helped to log in. Register the details of login by email. You will be provoked to improve your password. Enter a key that you can memorize easily. In the following step, you have to confirm the terms and conditions, upload KYC reports, and enter further information to make registration. At this time, you are logged into the trader’s place. 

Closing Thoughts 

4XCube is a Forex agent that grabs the attention of everyone. The website is designed with care, and the trading states look engaging. The first issue with this broker is that a legitimate governmental power does not authorize it, and the customers have no adequate assurance for the protection of their funds. The Forex exchange is full of scam brokers, and we never support investors to trade with unpredictable and fake realities.  

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close