Nano4x is actually a discounted Forex broker and can help you in more ways than one – it can help you learn about the trading market, become a partner so you would become your own boss, earn money, and more. You can even try it out with the practice account you can open, just so you can get an idea of how things are going.
The practice account allows the user to set any leverage for their account, as long as it is between 1: 1 and 1: 500. The account can be set up with any deposit and the benefits of live quotes. This trial account can be used for free, but only for 24 hours.
If you liked the “test drive” or are pretty good at it, you can sign up to become a partner. Members benefit from various rewards that are instantly added to their accounts and can be withdrawn from the account at any time.
If you really don’t want to become a partner, you can open a live account to start trading and experience the next step for Forex retail. This account allows leverage of 1: 500, but the minimum lot has to be 0.01. You have a lot of freedom to use this type of account, since you have no limitations to set limits, stop orders, use strategies and, in addition, you also benefit from tight spreads and without commissions. When you open this type of account, you can choose between a standard, standard or micro euro. Your leverage can range from 1: 1 to up to 1: 1000.
When you open any type of account, you will be asked for various personal information, in addition to having to accept the contract. In addition to the required fields and common points, each type of account can request some additional details that are optional or mandatory. The accounts do not have a commission for deposits and they usually pay you the amount of money you deposit. You even have several options to deposit money: through moneybookers, Visa, MasterCard, WebMoney and Liberty Reserve. However, one must read carefully when choosing the desired deposit option, as Visa and MasterCard have a 5% fee and when depositing or withdrawing money, you must use the same currency. Also, you can only make a transaction for yourself and no one else.
As one accesses the main page of the site, you will see the live quotes and stocks of 18 different currency converters. Those who go up will be marked with a green arrow pointing upwards while others will show a black arrow pointing downwards. In most cases, you can see more black arrows than green ones. The main page also keeps you up to date with various news and informs you when the next news update will occur, with a real-time countdown timer.
Like any other money-dealing site or platform, even this one has good and bad points. Most of the positives have been mentioned. The negatives would include the fact that while it is said that there are no fees to pay when you deposit money, there actually are, depending on the method used. Also, while you can feel confident that your funds are safe where they are supposed to be, withdrawing money seems like a hassle as each method has its own regulations and most of the time you have to reveal your identity – this is still a security measure.