Is Forex4You a scam or a legit broker?

Forex4You is not a secure broker because it is registered offshore and does not hold a proper Forex broker license. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

About Forex4you
🗺️ Registered inBritish Virgin Islands
🗺️ Type of LicenseOffshore License
🛡️ Is Forex4you safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Forex4You is an offshore Forex and CFD broker owned and operated by E-Global Trade & Finance Group, Inc., based in the British Virgin Islands. Forex4You has a license from the BVIFSA(British Virgin Islands Financial Services Commission). The website provides multiple offices of the company based in Latvia, Thailand, Malaysia, India and Vietnam.

The main contact phone number is from UK, although they do not mention having an office there and are not licensed to provide financial services in UK.

Conclusion

We recommend to avoid trading with offshore regulated brokers and to deal with the brokers, authorized and regulated by reliable regulators, such as UK’s Financial Conduct Authority (FCA), and to check the list of the FCA regulated entities to ensure they are.

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