ForexPlace Forex Broker Review

ForexPlace forex broker review

Leverage	1:300
Minimum Deposit	$100
Types of accounts	Classic Accounts
Broker Type	Market Maker/ECN
Deposit methods	Bank WIRE, Credit Card, Moneybookers, Neteller, Liberty Reserve
Minimum Contract	2,500 for beginner account and 100,000 for Professional account
Regulation	N/A
Trading Platform	MT4, MT5, ECN
Types of Orders	Market/Limit Orders
Instruments	Commodities, Currencies, Oil

ForexPlace forex broker review: When you look for a forex broker to place your money on it, forex traders want two things from their forex brokers: security and the best chance to grow your investment. In other words, you need a trusted forex broker that won’t sabotage your trades and provide the best trading environment to get as much profits as possible. 4xp.com or ForexPlace is a broker in foreign exchange, and other leveraged financial instruments. ForexPlace uses the Metatrader4 online trading platforms because of which it is able to provide the forex traders attached to them, with direct access to trade in the foreign exchange market through out the world.

The 4XP.com website is clean, fast, straight forward, visually appealing, and simple to use. The 4XP.com site is available in 10 languages, so forex traders from around the world can benefit from ForexPlace ease of use. ForexPlace offers all the basic and common services offered by many other Forex brokers, but ForexPlace definitely includes additional services that separates them from the pack in a major way.

ForexPlace Trading Platform

Using the world leading trading platform: MT4. MT4 is an easy to use trading platform with multiple features such as charting and technical indicators to support both novices and professional traders. Don’t have time to sit in front of your computer? No problem, they also provide mobile trading via MT4 for pocket PC and MT4 for Smart Phone.

ForexPlace Review Features Summary

Forex Robot; as stated above, 4XP has MT4 as their default trading platform for free and allows forex robot/expert advisor.

Clients Citizenship; 4XP accept clients from various countries, including US citizens who have dual citizenship.

Leverage; 4XP offer 1:300 leverage. Under special request, they also approve 1:500 leverage. If you are confident with your trading system, use this to your advantage.

Commissions; 4XP doesn’t charges commissions/fees for each trade; the company is compensated through the difference between buy and sell price (spread).

Strategies; Allow forex robots, scalping, and hedging. There are high possibilities to make profits when you’re allowed to use various strategies. Just make sure that you know what you’re doing.

Spread; apply low fixed spread with the spread for EUR/USD, USD/JPY, and EUR/GBP are 3 pips.

Practice/Demo Account; USD50,000 demo account available.

Security; client’s funds will be deposited at Commerzbank in Frankfurt.

Currency pairs; over 50 currency pairs, gold, and oil. Usually, most traders focused on major currency pair such as EUR/USD or GBP/USD which has low spread, but there are always profits opportunities in other currency pairs as well.

Deposits and Withdrawals at Forexplace

Deposit via credit cards, bank wire, MoneyBookers, Netller, Liberty Reserve, etc. For withdrawal, fill the withdrawal request form, then fax or email it to 4XP.

Why trade forex with Forexplace

Forexplace seems like a very impressive broker, the only thing that might turn off a trader is their lack of FSA regulation, but from what I was told by their support, they are currently in the last stages of the process. Forex Place declares that they offer their customers “Honesty, integrity and service par excellence”, and based on my thorough Forex Place forex broker review, that is an accurate description of their service as a whole.