Overview of 4XCube Review
The Cook Islands-based foreign exchange broker 4XCube was established in the year 2018. There are three different trading accounts facilitated on the evergreen trading platform MetaTrader. Read full 4XCube review here. The broker’s trading conditions are quite attractive that any trader can fall for. However, we don’t recommend 4XCube as it is not properly regulated and has several other issues. This 4XCube review is very crucial for traders those who want to invest in it.
The three trading accounts provided are labelled as Standard, Pro, and VIP. These accounts need the following initial investments respectively $100, $1000, and $25000. Minimum trade size of micro 0.01 lots and mini 0.1 lots are offered. Maximum leverages stretch from 200:1 to 400:1. Competitive spreads are also offered on these accounts.
The major advantage of 4XCube is its trading platform. The evergreen trading platform named MetaTrader that is equipped with several advanced technologies is offered for trading. The brokers trading conditions are very good. It provides lower average spreads and high maximum leverages that are mentioned above. 400:1 leverages are quite lucrative given the fact that they can earn maximum profits. Also, we have seen spreads floating around 0.8 pips on the EURUSD foreign exchange pair without applied commission. Therefore, the total cost of trading at 4XCube is minimised. However, the trading cost is not a critical factor but regulation and licensing are.
A company called 4XCube Limited situated in the Cook Islands is the owner of brand name 4XCube. The broker further claims to be regulated by the local financial regulator the Financial Supervisory Commission. Unlike the UK’s FCA or Cyprus’s CySEC, FSC of Cook Island is not strict. The brokers are not obliged to high regulations. And any broker operational from here turns out to be a scam.
The official site of 4XCube claims to offer trade on all financial assets including FX, Metals, Commodities, and Crypto. However, while testing out offered MT we came across only a few foreign exchange pairs and some metals. It means no diverse product portfolio is provided by the broker.
Is 4XCube scam or legit?
The broker is situated on the Cook Islands and is not properly regulated. Trading conditions are good but very few trading assets are present. Also, investments in premium trading account are huge. Therefore, 4XCube is a potential scam broker 2020. Avoiding it is the key to save and secure investments.