The Marshall Islands-based fx and crypto broker 4EX7 provides aggressive spreads and high leverage levels of 1:200. Two trading platform Web Trader and MetaTrader are offered. Affordable initial investments can be made to start trading with this broker. However, broker 4EX7 is not regulated and has other serious issues. In this 4EX7 review, we talk of them one by one to give a clear picture of it. Stay tuned and safeguard your valuable investments.
The fx and CFDs broker 4EX7 offers trading on six unique trading accounts namely Basic, Bronze, Silver, Gold, Platinum, and Black. The minimum initial investments for these six accounts are 250 USD, 1000 USD, 2500 USD, 10000 USD, and 25000 USD. The initial deposit of Black account is not shared by the broker. The broker does not seem to support a micro lot trading. The spreads as high as 3 pips and leverages of 1:200 can be seen. To derive the unprejudiced review, we must shed light in the possible advantages and disadvantages of 4EX7. Initially, we will talk about the possible advantages. The product portfolio offered is quite diverse and includes crypto coins, forex pairs, shares, commodities, stocks, indices and more. It also claims to provide two different trading platform a web-based and MetaTrader. MetaTrader is worlds no one trading platform and is most trusted. An initial investment of 250 USD is acceptable to many traders. Here we will talk about all the possible disadvantages of 4EX7. The broker 4EX7 brand is developed and maintained by a company named 4EX7 Limited registered and situated on the Marshall Islands. The Marshall Islands does not come under the supervision of any financial regulators. It means the broker is unregulated and possess high scam risk. As discussed above, apart from the Basic Account other premium accounts need high initial investments. Along with it, the trading conditions like the spread of 3 pips and leverage of 1:200 are quite aggressive. Such trading conditions coupled with an unregulated broker is a scam formula. It applies many salty fees to its traders. These are withdrawal fee, profit clearance charge, maintenance, and dormant fees. The broker claims to offer all payment methods but Skrill is absent. It is evident that the broker is a potential scam. As Skrill has adopted new antiscam policy.
Is 4EX7 scam or legit?
The broker 4EX7 is unregulated Marshall Islands-based potential scam broker. The initial investment is high and trading conditions are aggressive. It also applies many charges on withdrawals. So, we can conclude 4EX7 is a potential scam broker 2020.