Reason to avoid: Offshore License.
Listed Date: October 11, 2018
Top 3 Regulated Forex Brokers
Beware True4X is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name:
True Forex Limited. True4x Limited.
- Registration Address/ License:
Saint Vincent and the Grenadines. Only offshore-incorporated Certificate.
True4X is a trading name used by the True Forex Limited, the company located in Saint Vincent and the Grenadines. Yet, the broker is also registered in the UK as True4x Limited but classified as a company that performs combined administrative service activities.
The True4X mentions its non-compromised safety of business operations and the importance of Forex broker regulation as an aspect of reliability and trust. It is, however, not a fact of True4X, since the broker only holds a registration in Saint Vincent and the Grenadines jurisdiction that considered an offshore zone and requires a minimum for its incorporation.
Comparing to FCA (UK) or ASIC (Australia) set of rules, the SVG does not adhere the strictest rules to financial service companies compliance of operational standards and is not internationally strong in controlling it. The leading authorities regularly check-on whether the broker follows rules and standards that define also the cooperation between the client and broker, apart from the coverage in case of insolvency. For that reason, it is highly recommended to choose among the ASIC Regulated Brokers or other ones due to their secure trading environment.
Even though that True4x claim is the successful history of great achievement, technological solutions and long-term relations with their traders through the offering to trade Forex and CFDs, the lack of regulation puts a serious question to us. In conclusion, instead it is better to choose among the reputable broker rather than engaging with an offshore company that just sound to be good, but in fact, you never know what can appear at the result.