Is 4xFX a scam or legit broker?

No, it is not safe to trade with 4xFX. 4xFX is a Forex and CFD broker owned and operated by GRF EUROPE OÜ, Estonia based company which claims its register with a Register of Economic Activities. However, it does not mean the broker is regulated and authorized to deliver its service, as the register is just a register without any follow of the company sustainability and delivery of the financial service itself. Despite this, actually ever EU based company should hold a license that proves the company’s sustainability before its service is offered in the market and to the potential clients.

Even though the company mentions its trusted and secure financial service providing through meeting high regulatory and financial standards, the company, in fact, is not regulated or overseen by any reputable authority. Therefore, 4XFX is another non-regulated trading provider among the thousands of other companies we do not advise trading with.

4XFX Review

The broker has also been banned by several regulators:

“The business listed below (4XFX) has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) license or an Australian Credit license from ASIC.” ASIC, 10 January 2019

“Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform clients and investors that GRF Europe OÜ does not hold an activity licence for the provision of investment services in Estonia and therefore GRF Europe OÜ is not authorised to provide investment services in Estonia.” Estonian FSA, 14 January 2019

We advise all investors and traders to avoid 4xFX and other unregulated brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and XM.com.

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