4Trade Pro Review
4Trade Pro is a broker that has been operational for nearly twelve months as of this review. They are quite obscure in their modus operandi and several aspects of them do not make sense. One can be tempted to suppose the best of them at the outset, however, we strongly advise against it due to the hazards involved.
No clear indications of trustworthiness present on their site make this situation far from reliable. Trading any instrument carries its own set of risks, and being aware of the volatility is essential. Gain an understanding of the market, it could take several months up to a year. Until that level of proficiency is attained, it is best to stick with regulated entities.
For some inexplicable reasons, this broker refrains from revealing certain key pieces of information and the obfuscated descriptions they provide are highly dubious. To obtain a more concrete comprehension of how this brokerage operates, stay with us until the conclusion of this piece. Then, you will be able to make an informed decision.
An image depicting a review of 4Trade Pro can be seen in the following picture:
Who is the driving force of 4Trade Pro?
Upon careful inspection of the multitude of off-shore and non-regulated platforms, it is obvious that they all have one thing in common – a lack of visibility and openness. 4Trade Pro is not present on any social networks, indicating that they are not in step with the times. As for the contact information on their website, there is no mention of physical locations. Getting a reply from them via email is also a challenge.
It’s not possible to determine the true identity of the staff and their whereabouts. Since there is no user feedback about them available on the web, it is difficult to know what kind of service they provide. However, they can be contacted through Live Chat during the hours of 5 AM to 5 PM GMT from Monday to Friday.
Trading Interface and Regulations of 4Trade Pro
The 4Trade Pro platform provides a trading interface that allows people to carry out their transactions. Furthermore, they have a set of terms that need to be followed to use the application.
While there isn’t much information available from 4Trade Pro reviews regarding their trading platforms, we were able to find their web-based trading interface during our tests. Unfortunately, it wasn’t the most intuitive or user-friendly. Additionally, the spreads were quite high, making it unlikely that an experienced scalper would be able to make substantial gains. Even more concerning is the fact that it is impossible to determine the leverage offered without signing up.
When talking about borrowed money, there are benefits and drawbacks. Ultimately, the most significant factor is risk management. If handled properly, leveraging can increase purchasing power. Unfortunately, there is not much clear information about the 1:30-1:500 leverage that forex brokers offer. Therefore, those who decide to take this route should exercise caution.
The exact margin requirements for different types of assets are not disclosed, meaning that the financial positions of clients will not be managed securely as the amount of cash needed to remain viable is unknown. In addition, if we inspect the charting tools and characteristics offered, they will not be particularly impressive. The lack of help from custom indicators, limited chart windows, and old-fashioned templates compel traders to seek out an alternate service.
The work of trading involves a great deal of forethought. To be ready, it is essential to have a well-equipped setup with all required tools. Hopefully, you comprehend the fundamentals of success and if a platform or brokerage doesn’t provide all the necessary items in one space, it is not worth taking a chance on them; thus, it is best to pass on that option.
Are there any Automated Trading Services available?
For the past 10 years, it has been a goal to automate trading for both retail and institutional investors. High Frequency Trading (HFT) traders were the dominant force at first, but even they are struggling to adjust their algorithms. The market is becoming more efficient, so one must be attentive in order to spot any potential openings in the market that could be a big opportunity.
Retail traders find it difficult to access trustworthy systems, so they have to make do with account management services. In recent years, clients of retail brokers have been impressed by copy and social trading services. This broker does not offer any kind of automated services, so beginners will have to dedicate a lot of time to monitoring their open positions.
It is clear that those with a full-time job will be less than delighted that automated trading is not available. Furthermore, it is unknown whether the platform supports the use of bots or EA’s. This is not likely to be met with enthusiasm from the rest of the community.
Different Types of Accounts
Brokers are aware of what their target customers require and, as such, produce a few products tailored to certain types of traders. The purpose of this is to provide an optimal trading environment, which can help retain users. This platform offers 6 account types, but the details for each are not definite and there is no transparency.
The amount of funds needed to set up an account can range from $250 to more than $100,000. Depending on the type of account, there may be a welcome bonus available, but it is recommended to not take them up on the offer. Further details on the promotional activities they offer will be discussed later. In general, it is best to not accept any bonus offers.
When it comes to bonuses, brokers can often impose extreme requirements which usually don’t work out in favor of the customer. If, by chance, one is still interested in using their services, they should contact the support team to learn more about the account types.
Repository of Information
In the sector, it has become popular for regulated brokers to educate their customers and every organization has adopted this trend. 4Trade Pro includes a learning center on their homepage, covering topics that are important but not necessarily complex or advanced strategies.
We uncovered nothing of any significance, save for a few rudimentary explanations. Those new to trading could possibly find the content attractive, yet we are certain that any experienced trader would not be thrilled with what is displayed. To peruse their entire library of tutorials, users must enroll and entrust the platform with their personal information.
Additional rewards and incentives
Offshore brokers commonly use matching bonuses and promotions to draw in new traders. Unregulated brokers may offer enticing offerings such as trading tournaments, no-cost trades, and welcome bonuses, which may seem innocuous to the inexperienced.
As time passes by, traders will be able to discern the true nature of brokerages and may find that the concealed terms and conditions often have a financial cost. Therefore, it is important to not be overly eager when presented with an opportunity to increase your capital and to instead exercise caution. It should be noted that offshore firms and clients tend to be in conflict and, therefore, these firms may take whatever actions are needed to reach their objectives.
If you ever sense pressure to make a large commitment, take a pause and never share your financial details. Regulated brokers would never make such requests, and any broker that does is not looking out for the trader’s best interest.
Making Deposits and Withdrawals
Making deposits and withdrawals is a simple process. All that is needed is to select the desired option and follow the instructions. It is a straightforward process that does not require any additional steps. The user just needs to provide the necessary information and the funds will be transferred quickly.
This platform requires a minimum deposit of $250. Unfortunately, we do not have any knowledge about the minimum withdrawal amount. It is concerning that the website does not provide details on dormant account fees, transaction costs, and other related matters.
The good news is that there are numerous payment methods provided by them which we have listed. Unfortunately, the exact processing time is unknown and it is not specified if identification is required to make a withdrawal. Likewise, details on any trading competitions is limited and it would be prudent to avoid them for various reasons.
Is the Trading Platform offered by 4Trade Pro a Fraudulent Scheme?
Although at this moment it is premature to label this platform as a scam, the evidence seems to be quite strong in that direction as our 4Trade Pro review indicates the same. They are not regulated, have no social media accounts, and the address and other essential information are not made available. Additionally, there are no reviews from actual users.
Despite their relative newcomer status to the market, the absence of social proof cannot be excused. Additionally, the account types feature a number of errors, and other essential details such as the trading conditions are not as transparent as they should be.
Therefore, working with such organizations would be suicidal, and no sensible individual would ever do it. Trading can be lucrative, but it also can be expensive, particularly if you are using the wrong entities and trading platforms. While the latest technologies and tools may draw your attention, never join anything that is not regulated, as this will ensure the entire process is hassle-free.
4Trade Pro: Final Opinion
4Trade Pro is not a reliable broker, as their operations are peculiar and dubious. Not only is their platform not user-friendly, but a beginner wouldn’t be able to achieve success if they stuck with them for a long period of time. Furthermore, they have a significant amount of control over market feeds, and many of their policies are highly questionable.
Taking into consideration all we have discussed, it is clear that no one should engage with them and if they do, it could cost them greatly. If you have been scammed or are aware of someone who has, please reach out to us via the contact form. All our services are free and our only mission is to assist people in reclaiming their stolen funds as soon as possible.
Believe that your lost money can be recovered!