Forex Foreign Exchange Broker

4XP

A popular Forex foreign exchange broker in the market today is 4XP. From what we can tell, there's no relation to Windows XP. If you're still looking for one of the best Forex brokers out there, check out this review to see if they're what you need to break into the market.

Overall Rating: 9/10

Safety of Funds: 10/10

Customer Service: 10/10

Convenience: 9/10

Tools: 9/10

Execution: 9/10

Minimum Account Size: $100

Forex Broker Review

4XP is a broker that is situated in the financial haven of the British Virgin Islands.

They have offices all around the world and are widely available to most Forex traders...unless you reside in the U.S. of A. 4XP definitely has a lot going for them in the way of providing brokerage accounts to traders. They've been around since 2007 and they regularly get good reviews across the net.

Leverage and Execution

One of the nice things about this Forex foreign exchange broker is that they have decent leverage and solid execution. They provide a maximum of 300:1 leverage, which should be more than enough for most retail traders.

You can open either a regular account or an ECN account with them. If you open an ECN account, you will have direct access to the markets and you will not have to trade against them. If you open the standard account, they act as a market maker and take the opposite position of your trade.

The Forex spreads they offer are also pretty competitive. For example, on the EUR/USD, you can find pips around 2 to 3 in peak times. For most trading strategies, this should be adequate. With the ECN platform, you should expect lower spreads than what you get with the traditional platform.

While you can get potentially better execution by going with an ECN account, there are a few drawbacks. For example, you will have to pay commission on top of the spreads with this type of account. You also can only trade with a maximum of 150:1.

Payment Options

If you want to open an account with 4XP Forex, you can use a few different methods. You could deposit and withdraw via bank wire, Moneybookers, credit/debit cards, Neteller and Liberty Reserve. For the average person, you should easily be able to find a way to deposit with them.

The Verdict

We believe 4XP Forex is one of the better brokers out there. They have good customer service, they offer an ECN platform and they have good spreads. As long as you are outside the US, you should have no trouble getting up and running with them in no time.

Get Paid to Trade

To open an account with 4XP, click on the banner below and go through the Cashback Forex program. If you do, you'll be able to get a pretty decent percentage back on every trade that you place. 4XP offers $7 for every lot that you trade. If you trade frequently enough, that's a pretty good check coming back to you every month. Click on the banner below to get more info or to open your account today.

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