Is 4xincome a scam or legit broker?

No, it is not safe to trade with 4xincome. 4xincome is owned by Sky Hub Limited, which is an offshore company registered in St. Vincent and the Grenadine.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CF Merchants, Monfex and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

According to the website, 4xincome is a social trading and investing company that “allows its users to watch the financial trading activity of other users, copy them, and to make their own trades.” It offers a wide range of trading instruments – over 60 currency pairs, CFD’s, Spot metals and Indices, and over 180 Share CFDs. 

However, the broker doesn’t provide any information about its regulation and most probably it is not supervised by any authority. One more suspicious thing is that they don’t provide any contact information, so the user needs to “request a call” and leave his phone number and probably receive hundreds of calls from the company that looks like one more offshore investment scam. 

We advise all investors and traders to avoid 4xincome and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HYCM and Plus500.

 

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