4XFX.com is a crypto / forex broker that offers financial CFD (Contract for Differences) trading services to various cryptocurrency traders and investors by providing an adequate web-based trading platform that is plain, simple and easy to use. This brokerage firm was established in Estonia in the year 2018 and provides a platform for the trade of a good number of instruments like forex, commodities, cryptocurrencies, stocks and market indices. As a regulated crypto broker, 4XFX provides an effective trading service to its clients and offers crypto trading education to numerous traders thereby polishing their trading skills.
Crucial Factors for an Excellent Cryptocurrency Broker
There is a high demand for Litecoin, Ethereum and Bitcoin cryptocurrencies. However, if you wish to trade them using a suitable crypto broker like the 4XFX broker, you need to examine a few aspects. You should focus on the points below to get the ideal company.
A huge variety of Cryptocurrencies The firm where you opt to trade should provide the cryptocurrencies that you wish to trade. Nearly each CFD Broker present at least five of the leading cryptocurrencies. However, others are generally not provided. Therefore, if you intend to trade cryptocurrencies that are not as popular, you need to select a firm which includes them in their offer also.
Requirements of Trading Capital
A lot of individuals wish to invest about 500 dollars in cryptocurrencies trading. Therefore, when a CFD broker has 100 dollars which is the minimum deposit, they have no issues meeting this category. But, if the money you have is less compared to the minimum deposit, you need to select a cryptocurrency broker who permits trading even with little capital. Coming across such firms is difficult. But, you can also trade your preferred digital coins even when you have 10 dollars.
Cryptocurrency Brokers Fees
Brokers do not carry out charitable work, and you need to pay for trading cryptocurrencies. Even the most ideal cryptocurrency brokers impose a fee on spreads. However, if you select an excellent crypto company like 4XFX, these fees are not going to present a big issue. You need to choose your broker according to the plan you have for trading cryptocurrencies. A long-term trader and a day trader (owner of the cryptocurrency) will both select a different broker.
Why you should select a Crypto Broker rather than a Cryptocurrency Exchange
A lot of investors who intend to purchase and hold particular cryptocurrency for a long time opt for a cryptocurrency exchange instead of a crypto broker. They mainly do that because the fees involved are minimal. However, if you choose this option, you need to be aware of some factors.
Firstly, cryptocurrency exchanges do not provide excellent customer support. If you want assistance, you need to wait for some days to get a response. When the answer comes, it appears as if a robot wrote it. But, where cryptocurrency brokers are concerned, in many instances they provide top-notch services, and they are prepared to assist you immediately on an online chat.
CFD brokers have trading experience spanning many more years, even decades. Therefore, their advice is more convenient. You should also remember that several cryptocurrency exchanges have experienced cyber-attacks. A CFD broker can go through this as well. However, in a lot of instances, it provides a type of repayment for your loss.
Selecting an ideal Cryptocurrency Broker
Different cryptocurrency brokers have varied spreads on various cryptocurrencies. However, they are only slightly different. There are renowned CDF brokers in the sector like 4XFX. Hedging All of us want to make cash on our investments; with cryptos, however, many downsides are involved. To reduce your losses, you should be able to hedge your position.
Hedging is vital as it offers transparency on the risk management policies of a broker. Because bitcoins and different cryptos are volatile, unhedged brokers are more prone to significant losses that their client base causes.
Ask your cryptocurrency broker the following questions
Do you trade on weekends? A lot of crypto exchanges remain open; however, a broker and the providers of their market information might not be willing to be. So, not each broker supports trading on weekends. Due to this, if the market for ethereum and bitcoin is shifting during the weekend, traders cannot respond in the event of closure of their broker.
How much are trades going to cost you? Every broker charges commissions and provides margin accounts. When traders trade cryptocurrencies, they need to remember that their price is similar to equities, not forex. So, apart from wider spreads, a lot of brokers charge a commission on trades for crypto.
It raises the total trading cost and should not be ignored. So, leverage on bitcoins and products that are the same is usually ten times or less. Depending on the risk and strategies tolerance of a trader, margin rates might be a vital element of which broker utilize.
Does the broker provide short sales? It is a method of guarding yourself and generating cash when the cost reduces. Does a broker provide short trades of the cryptocurrency products they offer? Because of just a few hedging solutions for short trades opening, the majority of traders restrict their crypto products to only long.
For many, shorting is a crucial strategy; therefore, trading with a broker who does not permit shorting cryptocurrencies is a disadvantage. It is mainly the case where bitcoins and different cryptocurrencies which are believed to be in a bubble and susceptible to high intraday drops of 10-15% where shorting might be beneficial. In simple terms, a cryptocurrency broker is a website which traders go to and trade cryptocurrencies at a fixed price.
Check the following points before you register an account.
Is leverage essential? Markets for cryptocurrency are naturally volatile, and costs fluctuate a lot and produce substantial profits even when leverage is lacking. However, for some traders, the wish for extra benefits justifies using leverage.
Before you select your broker, ask yourself whether the profits which are already immense that a cryptocurrency market produces are sufficient for you or you want to utilize leverage to improve them more. Remember that it will also raise the risk element to your money significantly.
Negative Balance Protection
It is advisable to always trade with a broker who affords the facility of negative balance. It will enable you to avoid being at risk of losing more than your investments in case you experience a lot of losses.
Is The Required Capital suitable for you? Do you want to trade with small or more significant capital to assist you to obtain more returns? Check what dimension of trades your broker is providing before opening an account.
4XFX.COM CRYPTO TRADING PLATFORMS
4XFX.com offers an effective trading platform in form of MetaTrader 4. This trading platform is a web-based trader that take part in the trade of cryptocurrency, forex, future contracts, stock indices and precious metals. It has the ability to execute trades from standard devices like smartphones, tablets, mobile phones, computers and personal laptops thereby facilitating the easy access of trading from anywhere and at any time since it is compatible with their operating systems.
4XFX TRADING ACCOUNTS
A demo trading account is an inclusion of 4XFX.com crypto broker. This account type provides investors and traders with the opportunity of trading cryptocurrency while upgrading their trading skills. A demo account gives traders the opportunity to get familiar/ test run the functionality of the trading platform, provides an accurate simulation of real trading conditions and checkmate every developed trading strategy. It makes available a medium for proper interpretation of charting tools, technical indicators, and graphs. Other accounts provided by 4XFX.com are standard spread account, ECN capacity account, and an Islamic account.
4XFX TRADING FLEXIBILITY
As a global financial service provider, 4XFX trading comes with a flexible medium for the trade of bitcoin, CFDs, and cryptocurrencies. It gives investors the possibility of making a profit from the financial market with respect to the pricing situation. This crypto broker offers investors and traders with the possibility of not owning a cryptocurrency. This act adequately reduces the cost associated with owning the cryptocurrency and signifies that a trader can make profits by selling a cryptocurrency with the expectation of a rise and buy at a lower rate when the price falls.
4XFX.com provides leverages with CFD trading. Cryptocurrency and CFD trading with this brokerage firm leads to a huge increase in capital when compared to the initial investments. There is an availability of risk management tools like stop-loss order, stop entry order, take profit orders and trailing stops which minimizes the tendency of losing money. 4XFX.com also provides its clients with money management techniques where traders learn how to save their money instead of a total focus on how to gain more money.
In conclusion, this brokerage company offers effective trading educational tutorials, an easy to use withdrawal and deposit options, a secured trading system where private information and personal data are encrypted, protects an investor’s fund from other banks by means of account segregation, and offers effective trading tools like economic indicators, technical indicators, charting tools and trading platforms.