Nano4x is actually a discount Forex broker and it can help you in more than one way: it can help you learn about the trade market, become a partner – thus you'd 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 a taste o how things are going.
The practice account allows the user to set any leverage for their account, as long as it between 1:1 and 1:500. The account can be set with any deposit and benefits from the live quotes. This test account can be used for free, but only for 24 hours.
If you liked the “test drive” or if you're pretty good at it, you can sign up to become a partner. The partners benefit from various rewards that are added on the spot to their accounts and can be withdrawn at any time from the account.
If you don't really want to become a partner, you can just open a live account to start trading and experience the next step for the retail Forex trading. This account allows the 1:500 leverage, but the minimum lot has to be 0.01. You have a lot of freedom in using this type of account, as you have no limitations for placing limits, in stopping orders, in using strategies and in addition, you also benefit from tight spreads and no commissions. When you open this type of account, you can choose from a standard, standard EUR or a micro one. Your leverage can be anywhere from 1:1 and up to 1:1000.
When you open any type of account, you will be asked for several personal details, as well as having to accept the agreement. In addition to the required fields and the common points, each type of account may ask for some additional details that are either optional either mandatory. The accounts have no commission on deposits and they usually credit you with 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 they choose their desired deposit option, as the Visa and the MasterCard have a 5% fee and when you deposit or when you withdraw money, you must use the same currency. In addition, you can only make a transaction for yourself, and nobody else.
As one accesses the main page of the site, they will see the live quotes and shares, for 18 different currency converters. The ones that go up will be marked with a green arrow pointing up while the others will show a black arrow pointing down. One may see more black arrows than green ones, at most times. The main page also keeps you updated with various news, and letting you know when the next news update will happen, with a real time count down timer.
Just like any other site or platform that deals with money, even this one has good and bad points. Most of the good points have been mentioned. The bad points, would include the fact that while it is said there are no commissions to be paid when you deposit money, they actually are, depending on the method used. In addition, while you can feel safe about your funds sitting safe where they're supposed to be, it seems like a hassle to withdraw money, as each method has its own regulations, and most of the times, you must reveal your identity – this is still a security measure.