4xEx Review: Avoiding This Broker Is the Best Choice You Will Make

At first glance, the company’s website looks information-rich and easy to navigate. While that benefits traders, it’s not the only factor to look for in a broker. As we delved further into this 4xEx review, we slowly realized that the benefits end with their good-looking website. 

This trading firm is operating without a license, mainly targeting UK investors. Luckily, the 4xEx scam was recognized by the FCA, leading to an alert issued for UK residents, advising them to avoid this company at all costs. 

Who Is 4xEx?

4xEx is a company incorporated in Saint Vincent and Grenadines operating an online cryptocurrency-based trading platform. There is little to no information about the company’s history, founder, or year of establishment. That indicates a lack of transparency, making it difficult to assess the company’s credibility and track record. 

The server of the site has several low-reviewed other websites, meaning that the broker switched domains multiple times while keeping the same server. This is a huge red flag, and the fact that the website owner hides using a paid service is also a concern. 

Regulation Info

We immediately ran to the disclaimer to check if the broker is regulated and indeed, 4xEx trading is not regulated by any financial authority. Unlicensed brokerage companies pose a huge threat to your funds, so using them will only result in a financial loss. 

Many financial authorities, including CONSOB, FCA, IOSCO, and the Bank of Russia, advised investors not to trade with this firm. Just like for Finseas, the Bank of Russia warns about 4xEx as well. 

The broker mainly operates from the UK, Bulgaria, and Australia, so it’s vital to note that they are not regulated by the FCA in the UK, the Financial Supervision Commission (FSC) in Bulgaria, or ASIC in Australia. 

Broker Profile

The firm trades in forex, cryptocurrencies, metals, indices, and commodities on the proprietary web trader platform, which is available as a mobile app. The platform can be accessed once you enter your credentials on the 4xEx login page. 

The minimum deposit of $500 seems excessive, considering that many brokers let you trade for as low as $1. Additionally, the educational material they offer is only courses, without any additional tools that would benefit traders. 

Is 4xEx Safe To Trade With?

Unfortunately, this is not a safe company to trade with. Trusting them with your investments would be like trusting a child with chocolate. You may think for a second that they are reliable, however, several warnings, lack of transparency and regulation, and bad feedback indicate otherwise. 

To top it off, information about the company or any track record of successful trades doesn’t exist, making it difficult to confirm their claims. Unlike 1Broker, which had a solid offer, avoiding this trading firm will be your best decision. 

Traders Share Their Experiences

On Trustpilot, they have a total score of 3.3, based on 91 reviews. Almost 40% of the reviews are unfavorable, indicating issues while trading with this firm. Almost all of the reviews focus on one thing: the pushy manner and constant phone calls by the broker. 

One trader was bullied into taking a lone and investing £92,000 to lose everything in seconds. They do indicate that your account may seem like you have a large sum, however, all of that is manipulated and fake. 

How Is the Scam Carried Out?

The majority of their traders come from the United Kingdom, Bulgaria, and Australia, even though they are unregulated. The FCA must regulate each entity wanting to operate a financial business in the UK, however, instead of regulation, they got a warning. Check out ATC Brokers, a broker actually regulated by the FCA. 

Trading firms like this one will sweet-talk you into believing their stories and after you invest everything you have and are unable to invest more, you will see their true face and realize that everything was just deceptive tactics. The pyramid scheme is evident, so stay away from this brokerage company. 

Deposits and Withdrawal Methods

The only accepted method is cryptocurrency, and credit/debit cards are not accepted, making it difficult to file a chargeback if necessary. You can either provide funds directly or by using 4xEx’s leveraging tools, which is only a story they sell. 

Withdrawals may take up to five business days to be processed, and just like deposits, they can only be issued in cryptocurrency. The process itself or anything about withdrawals is not presented on their website, however, they are in the Terms & Conditions. 

Weighing the Pros and Cons

Can I Make Money While Trading Online?

Making money while trading online is possible but only with the right tools, knowledge, and strategy. However, it’s important to note that trading is not a guaranteed way to get money. Without proper education, it is a huge risk. 

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