Quick Links

• Our Review Method

• Is 4xFX Scam or Legit Broker?

• What is 4xFX?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding 4xFX due to the issues we've identified.

Is 4xFX Scam or Legit Broker? ▲

No, 4xFX does not present a safe option for traders. Although 4xFX, a Forex and CFD broker, purports to be under the ownership of GRF EUROPE OÜ, a company based in Estonia, it merely claims registration with the Register of Economic Activities. This registration does not equate to regulation or authorization, which are critical for ensuring the broker's sustainability and the legitimacy of the financial services it provides. In the European Union, it's mandatory for companies to acquire a license demonstrating their sustainability before offering services to the market and potential clients. Unfortunately, 4xFX lacks such licensure, casting doubt on its safety and legitimacy for trading activities.

What is 4xFX? ▲

Despite its claims of providing trusted and secure financial services and adhering to high regulatory and financial standards, 4xFX falls short as it is not regulated or supervised by any reputable authority. This places 4xFX among the myriad of non-regulated trading providers we strongly advise against engaging with. The broker has encountered bans from several regulatory bodies:

• The Australian Securities and Investments Commission (ASIC) issued a warning on 10 January 2019 about 4xFX engaging in unsolicited calls or emails concerning investing, financial advice, credit, or loans without holding a current Australian Financial Services (AFS) license or an Australian Credit license.

• On 14 January 2019, the Estonian Financial Supervisory Authority (Finantsinspektsioon) informed that GRF Europe OÜ, the company behind 4xFX, does not possess an activity license for the provision of investment services in Estonia, thus it is not authorized to offer these services within the country.

These bans and warnings serve as significant red flags, underscoring the broker's unregulated status and casting doubt on its credibility and reliability.

Conclusion ▲

In light of our thorough research and the significant concerns identified, we strongly advise investors and traders to steer clear of 4xFX and other brokers lacking regulation. Entrusting your investments to unregulated entities poses a substantial risk. Instead, traders should seek out brokers that are well-regulated by reputable bodies such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC) in Australia. Established and reliable brokers like IG Markets and XM.com offer a much safer and more secure trading environment.

4xFX Update:

Further investigation has revealed that the 4xFX website is no longer active, indicating that the broker has ceased its trading operations. Despite this, we urge caution and recommend avoiding any future proposals or engagements with this entity, as its history of regulatory issues and lack of transparency raise significant concerns about its trustworthiness and the safety of any potential investments.