Minimum Deposit: $250
Maximum Leverage: 1:200
4XFX is a forex broker based in Estonia. The broker also has an operational office in Germany according to the information stated on the official website. Founded in 2018, this broker succeeded in attracting a lot of customers in a short period of time.
The name of the broker is quite original and creative. 4X, as it says in English, refers to forex. Some trading conditions like the name of the broker are also interesting. For example, the minimum deposit amount for the 3 account types offered depends on the bitcoin. I can say that it is a broker offering innovative features.
So is the 4XFX scam or a reliable broker? What are the trading conditions and account types offered by the broker? What are the account type features such as minimum deposit amount and maximum leverage? In this 4XFX review, you will find the answer to all these questions. You can also write to me if you have any further questions or comments about this broker. I will try to answer as soon as possible.
4XFX is a brand of GRF EUROPE OÜ, a company based in Tallinn, Estonia. It is licensed according to the information contained in the official website. They even shared a license number for this, but if we do some investigate we see that there is no license on behalf of this company.
Many investors do not have enough knowledge about licensing and regulation. However, regulation is considered one of the most important criteria for determining the reliability of forex brokers. Because reputable regulators like FCA or ASIC have very strict rules. In order to obtain a license from these regulators, the broker has to fulfill very difficult conditions. Brokers that are strong enough to fulfill these conditions are already above a dedicated level of reliability.
For example; FCA-licensed brokers must have a minimum net capital of € 730,000 in their bank account. Moreover, this account should be kept separate from the operational accounts of the company. So if the company goes bankrupt, some of the investors’ funds can be compensated here.
Account Types Offered by 4XFX
There are 4 different types of accounts offered by 4XFX: Starter, Silver, Gold and Platinum. The Starter account is similar to the standard account on other brokers.
|Account types||Minimum deposit||Maximum leverage||Spreads|
|Starter||$250||1:100||Fixed, from 3 pips|
|Silver||0.5 BTC||1:100||Fixed, unspecified|
|Gold||1 BTC||1:200||Fixed, unspecified|
|Platinum||10 BTC||1:200||Floating, unspecified|
However, some of its features are below the average of forex industry. For example; The minimum deposit amount for the Starter account type is $ 250. Many brokers can open accounts for $ 100 or even less. You can reach the list of reliable brokers who require lower minimum minimum deposit by clicking on the button below.
For other account types offered by the broker, the minimum deposit is much higher. For example, the minimum deposit amount for the Silver account type is 0.5 BTC. In addition, there is no extra advantage to offer.
Maximum leverage is 1: 200 but you need to open a Gold account to use this leverage ratio. The minimum deposit for this account type is 1 BTC.
There are fixed spreads for all account types except Platinum account.
Spreads are of 3 pips on EURUSD for Starter account type. This is not competitive. Spreads on other account types are not specified by the broker.
In terms of deposit and withdrawal methods, 4XFX offers quite a number of methods. Normally newly established brokers offer a limited number of payment methods. These methods are wire transfer and credit card. However, in addition to these, 4XFX offers many methods. Popular e-wallet systems such as Neteller and Skrill are also available.