Must be a pretty expensive plate with only four characters on it. Mine is 5 with a suitably trimmed plate that follows the line of the bumper.
This is with legal spacing, legal height and legal font. Think it looks ok, so Go for it!!
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Fancyplates will do you one cut down to an 11mm border, the minimum you are legally able to go to.
With a standard sized font, this is still noticeable smaller (especially on a short plate) so should look fine and not get you stopped!