Reason to avoid: No License.
Listed Date: October 17, 2018
Top 3 Regulated Forex Brokers
Beware 4xpoint is an Offshore Broker. It is NOT SAFE to trade.
- Company name:
Allmedia Ltd. 4xpoint. Yukon Global Ltd. www.forex-point.com
- Registration Address/ License:
St. Vincent. Seychelles. No License, No Regulation.
4xpoint claims its specialization in Forex brokerage with top-tier trading experience over hundreds of underlying assets to trade shares, currencies, commodities, indices and CFDs. The business information about 4xpoint trading names shows a located in St. Vincent company with the name Allmedia Ltd. However, the research shows that the company has a connection to the Yukon Global Ltd, which was located in Seychelles, operated with no license and was known for its name forex-point.com. Currently, the broker’s website redirects to 4xpoint one, which also shows a contact email and the phone number that belonged to forex-point.
All the above mentioned is a definitely confusing that can only mean the forex-point operates now through a new brand name 4xpoint, while located in the new jurisdiction, again offshore zone, and still target worldwide clients. The rebranding and the “new page” was a quite predictable step, since the previous brand gained a negative reputation, while traders claimed malicious operations as well the company received warnings from the industry authorities.
“Considered that Yukon Global Ltd is not authorized to provide investment services to the Italian public, insofar as it is not registered on the register held by CONSOB. Hereby resolves to order the cessation of the infringement of Legislative Decree also performed via the company website, consisting in the provision of investment services and activities to the public.”
In conclusion, this is an often practice from the non-regulated or offshore brokers that changes names or jurisdiction, while still remain non-authorized, therefore attracting clients and mainly their funds, which will be never returned back. For that reason, we always advise trading only with the Regulated Brokers from reputable jurisdictions rather than falling into the frauds.