4Trade Pro is a broker that has been active for less than one year at the time of writing this review. They are very mysterious in their approach and there are a lot of things about them that just do not add up. One might be inclined towards giving them the benefit of the doubt at the beginning, but we strongly advise against doing so because of the risks present.
Surprisingly, there aren’t any obvious signs or telltale signs featured on their website, but that doesn’t make them reliable in any way. Trading any type of instrument contains different levels of risk and one needs to be careful about the volatility levels too. It might take an individual anywhere between a couple of months to a full year to fully understand the mechanisms of the market and in this beginning phase, it is recommended to stick only with regulated entities.
This broker for some unknown reasons does not share details of certain crucial elements on purpose and the kind of clouded narratives shown by them is suspicious to say the least. Stick with us till the end to know all about the way this brokerage works and then you will have enough understanding about them to take a firm stance.
Who is behind 4Trade Pro?
If you carefully analyze all the offshore and unregulated platforms out there, one thing becomes clear, they all hate being open and transparent. 4Trade Pro is not present on any social media platforms. They are clearly not up to date with the trends and to get a reply from them over the email is tough as well. We did find a series of contact information on their website, but there weren’t any physical locations revealed by them.
To put things in order, we cannot verify their real identity and it is impossible to pinpoint their actual location. As there is no user feedback about them on the web, we don’t know the kind of treatment they offer to the clients. On the positive side, the support staff can be reached through Live Chat, and their working hours are from Monday to Friday 5 AM to 5 PM GMT.
- Email – support@prolivetrading.com
- Phone Number – +44 7451273740
4Trade Pro Trading Interface and Terms
4Trade Pro doesn’t talk a lot about the trading platforms it supports. During our testing, we were able to see their web based trading interface and it wasn’t exactly nice or practical. The spreads are certainly on the higher side and we don’t think any experienced scalper will be able to make considerable returns with them. Scariest thing about them is the fact that there is no way to find out the leverage offered by them unless you register with them.
Typically, forex brokers offer anywhere between 1:30 to 1:500 leverage. We can talk about the advantages and disadvantages of borrowed money all the long. However, in the end the only thing that matters is risk management and as long as that is taken care of, there is nothing wrong with amplifying the purchasing power. Lack of clear and straightforward information is extremely concerning and if anyone dares to try them out, then they need to be cautious while doing so.
Margin levels for different asset classes are not revealed and as such the positions of the clients will never be safely handled as the cash needed to stay afloat is unknown. Lastly, if we take a look at the default charting tools and features, it will not entice you in any manner. The lack of support from custom indicators, limited chart windows and outdated templates pushes the traders towards choosing a third party service.
Trading is a job that requires a lot of pre-calculated moves and a part of being prepared is all about setting up a nice infrastructure with all the tools necessary. Now, hopefully you understand the things necessary to be successful and if any platform or brokerage doesn’t offer all the required tools in one place, then leave them alone as it is never worth it to proceed with them.
Do they offer Automated Trading Services?
For a solid decade, the idea of automating the trading process is a dream for both the retail and the institutional side of the markets. HFT traders ruled the markets in the beginning, but as of now, even they are having a tough time calibrating their algorithms. The inefficiencies in the market are being closed rapidly and one needs to be observant to notice the gaps in the tape that might be the next big thing in the sector.
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For the retail traders, it is still hard to get their hands on a reliable system so they are forced to settle for account management services. From the last few years, two things are highly appreciated by the clients of the retail brokers and they are copy trading and social trading services. This broker does not appear to offer any form of automated services which means the newbies have to sit in front of the screens and spend a lot of time looking after the open positions.
Obviously, for people who have a full time job, the lack of automated trading will be a deal breaker and the rest of the crowd too isn’t exactly going to be thrilled by the situation. Note that we don’t even know whether they support any kind of bot or EA’s on their platform.
Account Types
Brokers understand the needs of their ideal customers well and they create few products that are preferred for certain types of traders. Their goal is to provide an ideal environment to the traders which in turn would help in retention of the users. This platform offers 6 account types, but the conditions for each of them are vague and there is no clarity whatsoever.
The funding required to open an account with them ranges from $250 to over $100,000. Depending upon the type of account clients go for, they do offer welcome bonus, but we suggest everyone to decline those offers. We will discuss more about the promotional activities conducted by them later in the article. However, in general never accept any bonus stacks for your own good.
Most brokers will put ridiculous conditions attached with the bonuses and it will never end well for the majority of the clients. For some reason if you are interested in signing up with them, then ask the support team for further details about the account types.
Knowledge Bank
The trend created by regulated brokers to educate their clients was a hit in the sector and nowadays every entity is blindly incorporating it. 4Trade Pro features a dedicated learning center and they link out to the page right on their homepage. Topics covered by them are important, but they have not gone over any complicated or advanced strategies.
Apart from explanations of a few basic things, we did not find anything that can be considered as valuable. From the beginner’s perspective, the content might be appealing enough. On the other hand, we are sure that no reasonable or experienced trader would like the materials showcased by them. To access their full range of tutorials, people have to sign up with them and that requires trusting this platform with the personal data.
Anyone can find much better and organised information for free on the internet and they will not be required to put in their confidential information as well. So, if you are just starting out, then check the reputable educational platforms and forums instead of blindly believing the materials put up on this website.
Bonus and Promotions
Matching bonus and promotional activities are conducted by most offshore brokers. To attract the newbies, unregulated brokers will always come up with exciting things such as trading competition, risk free trades along with welcome bonuses. At first glance, things mentioned above will appear quite harmless to the untrained eyes.
However, as time moves on, the real color of the brokerages will get exposed and most of the time, the hidden terms and conditions will burn a hole in the pocket of the traders. So, don’t be impulsive just because you were presented with an opportunity to increase your capital instead be cautious. Remember, the conflict of interest between offshore firms and clients are massive and as a result, they are always ready to go to any level necessary to achieve their goals.
At any point of time, if you feel like you are being pushed towards making a big commitment, take a step back and never give them your banking information. Note that regulated brokers would never pester their clients and any broker that annoys their user base does not have the best interest of the traders in their mind.
Deposit and Withdrawals
The minimum deposit amount on this platform is $250. Unfortunately, we are clueless when it comes to the minimum withdrawal amount. Information regarding dormant account fees, transaction charges and other related stuff is not published on their website and that’s a bad sign.
On the positive note, the number of payment options supported by them are plenty and we have listed them below. God only knows the average processing time and it is unclear whether a client has to verify his or her identity before applying for a withdrawal. Information on trading contests is also scarce and we think it is best for the clients if they do not participate in them for obvious reasons.
- VISA
- Master Card
- Maestro
- Skrill
- Neteller
- Bitcoin
Is 4Trade Pro a Scam Broker?
It is too early to label this platform as an outright fraud entity, but the things they exhibit do support the theory very well. For starters, they are unregulated, they have no active social media pages, the address and other important details are not shared with the public. Moreover, the user feedback is also missing.
We know that they are not even one year old in the industry, but that fact alone doesn’t justify the lack of social proof. Moving on to the account types, there are a lot of blunders present in the model and other important things like the trading conditions are not as clear as they should have been.
So, proceeding with them will be like digging our own grave and no rational person would ever do it. Trading is a rewarding career, but it also can cost a lot especially if you are starting out with the wrong entities and exchanges. While new features and tools might capture your attention, never indulge with any firm unless they are regulated and it will make the entire journey smooth.
4Trade Pro Review Conclusion
4Trade Pro is an unreliable broker that operates in a strange and questionable manner. Their platform is not user friendly and no beginner could ever taste success if they stick with them for long. They also have a lot of control over market feeds and their policies on a lot of aspects are borderline shady.
Keeping in mind everything we have gone over till now, it is easy for us to say that no one should deal with them and if they choose to ignore our warning they might have to pay a hefty price for it. Also, if you have lost money to them or know any victims, then get in touch with our team via the contact form below. All of our services are free and our only goal is to help people get back their stolen funds at the earliest.
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