Forex Place Review – Forex
Forex Place give what we call the ‘whole trading experience’. This means that if you sign up to Forex Place you get industry standard software, both online, and download, and you also get a good level of support, including access to their ‘Dealing Room”. They also have a learning centre for those new to Forex, and their trading software is also available for a variety of mobile devices, including smartphone.
Despite being a ‘serious’ Forex dedicated platform, they do offer mini accounts, unlike some big brokers whose minimum account requirements can be off putting to anyone who wants to ‘dip their toes’ into Forex trading. These mini accounts are ideal for beginners, as they can get the feel of the markets without breaking the bank. A word of warning though – if you start small and find you are trading well, when you move up to a higher level of account, the psychology of your trading will alter, which is not necessarily problematic, but it needs to be taken into consideration.
Never underestimate the value of support and advice, both of which there is plenty of at Forex Place. Live chat is accessible in the ‘Dealers Room’, where you can chat with other traders, and Forex Places’ trading staff. Forums are an excellent place to garner information, but nothing beats real time live chat. It is the one way that you can really explore issues, as opposed to forum posting where you questions are generally limited to the scope of your knowledge. In short, you learn rapidly on the fly through the real-time interaction. You will also be talking to professional traders which is a great bonus.
The site itself looks good which shouldn’t be too much of a consideration when choosing which Forex Broker to sign up with, but all these things add up. Deposit methods and processes are straightforward, with lots of payment options. More importantly, withdrawal is not the drawn out process it can be with some brokers.
The trading platform Metatrader 4 has everything you need and more. It’ll take a little while for you to figure out exactly which features and functions meet your trading style, but that will happen as your style itself develops. If you have a Mac, no problem, their online Forex software is fully comprehensive, so you won’t be missing out on the Windows download version.
Their spreads start at three pips on majors which is pretty good, and they have over 50 pairs for you to play with, but we would advise starting with one or two to get your foothold on what is going to be a big but enjoyable, and hopefully very profitable learning curve.
Forex Place or 4XP really do stand out from many other Forex Brokers in terms of their trading software, support, transaction methods, and trading resources. And like all good brokers they offer a demo account to help you get on your feet. And, the best way to test them out is to try their demo, enjoy, and good luck!
The Facts
How To Open An Account
Minimum Deposit
- $100
Minimum Trade
- $33
Promotions
- There are no current offers.
Deposit Withdrawal
- Bank Wire, Major Credit and Debit Cards, Moneybookers, Neteller, EcoCard, Liberty Reserve.
Trading Platform Logon
Tutorials
- Virtual Tour / Learning Centre – Text Based
Support
- Email, Live Chat, Telephone (Intl.)
Operating system requirements
- Online / Windows Download
Demo Account
- Yes
