Phone: UK: +44 20 33181555
Fax: UK: +44 20 77859242
Omar Hodge Building
Chera Chambers, Road Town
Interview with Mike Davis
Interview with Mike Davis, Senior Analyst, 4XP
1.Please give us a brief introduction about yourself - What is your position? What is your professional background?
My name is Mike Davis, and I am currently a Senior Analyst at 4XP Investments and Trading. As part of my responsibilities with the company, I routinely write technical and fundamental analyses, which are later distributed to our clients. In addition, I often speak with clients and discuss trading strategy as well as proper portfolio management.
2.Who is your target audience?
We appeal to any individual who wants to increase their income. People generally work hard for their money, and this is a way for them to make their money work hard for them. It’s amazing how much profit can be made with very little effort in the Forex market. With the proper training, investors can yield returns they’ve never imagined possible. Even if a person is short on time, due to various reasons such as work, family, and many other possible reasons, there are methods available to help them become profitable traders with very little time or effort. It is truly a great feeling to reap the benefits of additional income at the end of a strenuous trading session.
3.Why should a trader choose YOU over another provider?
• Depending on the needs of the client, we offer the possibility of having a Euro based account or a US Dollar based account for the client’s convenience.
• We offer traders very low fixed spreads, which will remain unchanged regardless of market volatility. For clients who prefer floating spreads, we offer an ECN program, where traders can experience spreads that reach as low as 0.3 pips, as well as market execution without re-quotes.
• We strive to maintain very high execution speeds on trades across 3 live servers, and we offer incredibly precise quotes to the client through a special feed filter which provides price averages from approximately 20 different sources.
• There are over 180 symbols in our platform comprising of Forex, CFD Futures on commodities, indices and CFDs on shares and bonds. We also offer trading on Binary options.
• We constantly offer promotions that appeal to all traders. Among such promotions are generous bonuses, VIP accounts with discounted spreads, and special programs such as the revolutionary ‘Advanced Execution’ program that allows incredibly fast execution.
• Our 24 hour dealing desk is composed of market professionals, who are available 24 hours a day to accommodate each trader’s needs on an individual basis.
4.Please describe the trading platforms available to your clients?
• 4XP offers its clients several comfortable trading platforms. We offer the world’s leading platform, Metatrader 4 which allows for a complete trading tool for all levels of trading. Through this platform, a client can easily apply various indicators, scripts, and expert advisors. In addition, it allows for the use of charts with different periodicities, and the platform can be customized to fit each trader’s individual needs.
• There are times however, when a client is not by his PC and would like to log in to view his portfolio from another computer. Rather than having to download the MT4, the trader can log into the 4XP web trading platform (http://webtrade.4xp.com/). The software is easily accessible and convenient for all.
• We are in a new age of advanced technology, and 4XP is adapting to the wave of the future - Mobile Trading. Mobile Trading is the latest trend to engulf financial markets. This feature allows anyone to trade directly from a mobile device. The Forex market becomes readily available at any moment from the palm of your hand. Simply download the 4XP Mobile Trading application on your mobile device, login to your account, and begin trading within moments. Trading has never been so comfortable.
5.What other services do you offer your customers to support their investment decisions and/or trading?
• Educating our clients is extremely important to us. We understand that individuals reach 4XP from all over the world and with varying levels of trading experience and market comprehension. Our goal is to increase our clients’ profitability, in order to ensure a long-term relationship. Clearly, this is easier to achieve when the trader is in profits rather than losses. Therefore, we provide our clients with many tools that can help make them better Forex traders. 4XP offers live webinars that are led by the industry’s leading professionals. The webinars provide a deeper insight into the Foreign Exchange market for all levels of trading experience. In addition, 4XP regularly sends its clients weekly fundamental analysis, as well as daily technical analysis, in order to provide the trader with updated economic news and graphical breakdowns. Finally, on our website, there are many resources readily available to clients, where they can learn about the currency market, as well as enjoy features such as ‘4XP College’. For those who feel they need personal trading assistance, one-on-one coaching can be offered, where the trader can focus on specific issues that are of interest to him. In addition, offline seminars are held around the world at the convenience of our clients.
• Customer service is the underlying theme at 4XP. We strive to give each client the most professional care possible, while attending his personal needs and goals. Our dealing room is available to all clients 24 hours a day, 6 days a week. At any time, a client may contact our professional and friendly dealing room staff, in order to obtain information regarding the status of an account, to open positions, or simply to discuss market conditions and trends. We offer customer care in many languages, in order to accommodate clients from around the world.
6.Walk us through opening an account with your company.
When a client would like to open an account, he can simply go to our website and click on ‘Open Live Account.’ This will take them to the following page: https://www.4xp.com/en/newAccount.php
At the above webpage, the client will be asked to enter his personal information. Upon a successful registration, an email will automatically and instantly be sent to the client’s email address, in which the account details will be provided. The client will be contacted by a representative, who will welcome him to 4XP. In the event that any prospective client would like to receive information regarding promotions or trading conditions, he can request such information from the representative at the time of the call or contact us at any time at firstname.lastname@example.org.
However, for those traders who want to promptly open and fund an account, they can simply follow the simple directions in the registration email, and deposit money into their account via the various deposit methods listed on the website. This allows the client to open an account, make a deposit, and begin trading all in a matter of several minutes.
7.What advice do you have for someone who is just starting to trade the markets?
For those clients who have little to no experience in trading, I would recommend to join one of our many Webinars on our website. These webinars can provide a great deal of insight to clients who are just beginning to trade, as well to our intermediate and advanced traders. This will allow the client to receive prompt responses to their questions as well as to follow the many features of our trading platforms. Furthermore, clients can select from our auto-trading products. Auto-trading allows a person to select from a list of Expert Advisors, based on their respective historical performance, thereby allowing for increased profitability without prior knowledge or experience.
8.What would you say are the most common mistakes traders make? What are some of the best trading practices to keep in mind?
Traders should be cautious not to leverage their portfolio to a risky degree. In other words, the exposure to the market should not endanger a high percentage of the funds in the account. Since 4XP provides leverage of up to 1:300 to its clients, there are many individuals who are tempted to use that opportunity to their advantage. While we encourage our clients to use the tools at their disposal to yield higher returns in their accounts, we do not recommend dangerously high exposure levels that place the entire equity at risk.
Moreover, with so many trading instruments available to our clients, including currencies, CFDs, shares, bonds, and more, clients should be looking to diversify their portfolios as much as possible. It is never a good idea to “put all your eggs in one basket.” When doing so, a client puts himself at the mercy of that particular instrument, and financial markets are known to often be unpredictable. Therefore, it would be best for a trader to find a myriad of options to trade with, so as to not be so dependent on any one facet of the market.
9.What’s your view on the economy? What are the implications on the currency, equity and commodity markets?
The economic spectrum is extremely complex and volatile at this time. The European debt saga continues to linger and the unstable conditions are hindering any possibility of recovery and growth. However, even during tumultuous times, there are substantial profits to be made. It is important for any trading strategy to recognize the fluctuations in risk appetite, in an effort to decipher potential profitable opportunities that may arise.
Perhaps the most discussed topic right now is the spike in energy prices that have been seen over the past few months. Political turmoil in the Middle East continues to mount, and a solution seems far from obtainable at this time. Iran’s nuclear program has caused mayhem across markets, amid economic and political sanctions imposed by the US and its Western allies. In addition, European nations have agreed to implement an oil embargo on Iran, in an effort to assist the US in its goal of suffocating the Iranian economy and bringing the nation’s nuclear program to a halt. In response, Iran has threatened to block access to the Strait of Hormuz in the Persian Gulf, a critical water passage that is responsible for more than 30% of the world’s oil supply. Such an incident would dramatically impact the layout of energy distribution across the globe. As a result of the havoc that is taking place in the region, oil prices began to surge several months ago. Crude oil is currently priced at around $108.00 per barrel. The higher oil prices are being felt at the pump as well, and the majority of Americans have already endured some of that burden.
Rising energy prices are extremely disconcerting, since the US economy finally began to show vital signs of improvement. US employment data have taken several important steps toward recovery over the past several months, evident through non-farm payrolls and a slowly deflating unemployment rate. However, the extra drain of higher oil prices on the pockets of the average consumer will surely slow down economic growth as residual income and consumer spending are certain to decrease as a result. In spite of the rise in energy prices, US sentiment remains on the incline, and equities continue to gain momentum as a result. Traders must always be focused on global economic trends, and follow the myriad of events that continue to impact market conditions. Studious traders are then able to yield highly profitable portfolios, when applying this knowledge in the market.
10.Where do you see 4XP in 2 years?
We are working very hard to become the World’s most professional and attractive Forex broker. 4XP continues to grow and develop into a strong market competitor, offering its clients extremely appealing trading conditions. In order to accommodate the needs of our clients, we have expanded our operations across the globe, allowing us to reach a much larger market base. We strive to provide the most accurate prices for our traders, as well as to implement new products and technological innovations.