A young brokerage brand, 4xcube joined the competitive online trading industry armed with a mission to bring in transparency, unique offerings, and excellent customer service. The company believes in the importance of adding these values to its clients’ trading careers to help them experience trading to a whole new level.
Despite its young plight, 4xcube claims to have over two decades of experience across several financial markets integrating the best trading practices and strongest safety measures for its client funds.
To help you build your initial impression of the broker, let’s rundown the set of advantages and challenges traders like you can benefit from or deal with upon choosing 4xcube as your online trading service provider.
4xcube Advantages and Drawbacks
With 4xcube, you can take advantage of the following trading features and offerings:
- Zero commissions
- Low minimum account deposit
- Additional features including Zulutrade and HokoCloud
At the same time, you also need to consider the following drawbacks of trading with 4xcube:
- Lacks reputable regulatory credential
- Limited financial instruments
- Deposit and withdrawal fees apply
Safety and Regulation
4xcube appears to be a duly registered and regulated broker. The company is situated in the Cook Islands and is supervised by the FSC. Albeit the broker’s apparent regulatory compliance, the FSC is not part of the tier-one regulatory bodies in the industry.
Scrutinizing its official site, the broker clearly stated its adherence to client and company funds segregation. Moreover, the broker is also audited by a credible auditing firm regularly. In 2019, reports have it that 4xcube is a member of the Financial Commission, a significant client fund-safeguarding move as it provides a 20,000 euro compensation fund.
In terms of clients’ trading transaction security, 4xcube utilizes a data-securing system. Its partnership with Rackspace provides the broker a multi-cloud trading structure. Additionally, SSL encryption technologies are also in place through its MetaTrader platform protecting all data that pass through several servers.
Despite not having a tier-one regulatory certification, you cannot count 4xcube out when it comes to providing a safe and secure trading environment.
Trading Accounts and Features
Accounts and Specifications
The broker features four account classifications namely, Standard, Pro, VIP, and mBTC. Each account type has its set of trading conditions.
The lowest account balance minimum is featured in the Standard account as it only requires a minimum of $10 to start trading. This account has zero commissions and provides spreads that start from 0.7 pips.
Well-experienced traders can go for the Pro account. The most salient feature of this account is its offered spreads which start from 0.1 pips. However, a commission fee of $3 per lot is set in place. Users of this account should deposit at least $100.
Traders who would want to experience the best trading conditions laid down by the broker should opt for the VIP account which features low spreads starting from 0.2 pips and zero-commissions trading. Other perks included in this account is free-of-charge deposit and withdrawal transactions. A dedicated account manager will also assist 4xcube’s VIP trader to make the most of the broker’s services.
The mBTC account is dedicated to crypto traders.
Deposit and Withdrawal Charges
4xcube provides a wealth of funding options to its clients. Most of these methods take instant processing but they come with a price. For instance, card deposits are charged for three percent, FasaPay for 0.5, and Perfect Money for six percent. If you use Skrill or Neteller as a non-EU customer, there are no charges.
For withdrawals, popular methods like Skrill and Neteller charge three percent while credit cards ask a 0.15 percent charge.
Platform Experience
You won’t have an unusual experience as you trade using 4xcube’s offered platforms as it provides the industry-standard MetaTrader. Both MT4 and MT5 platforms are present in 4xcube’s offering. Versions of these platforms include Windows, web, Android, and iOS.
As a step-up offer, 4xCube houses additional trading features that allow its users the opportunity to copytrade. Along with HokoCloud, Zulutrade is part of the traders’ options. Complementing its comprehensive set of educational resources is the market signal provision from 4xcube.
Summary of Brokerage Service
Broker Type: STP broker
Regulatory Affiliation: FSC
Covered Jurisdictions: covers most countries except U.S., Korea, and Iran
Financial Instruments: forex, precious metals, indices, shares, and cryptocurrencies
Offered Platforms: MT4, MT5
Funding Methods: bank transfers, credit cards, online payment solutions including Skrill, Neteller, etc.
Account Offerings: Standard, Pro, VIP, mBTC
Customer Support: live chat support, email, telephone
Verdict
Should 4xcube decide to forgo its deposit and withdrawal charges and up its tradable product offerings, it would elevate its competitive stance against other brokers that provide the same trading experience to traders.