4xpoint Review Scam Complaint
4xpoint Review – An Introduction
4xpoint is an offshore broker company which claims specialisation in forex brokerage. It is registered in St. Vincent and the Grenadines but its regulatory status not known. Furthermore, there is another company named Yukon Global Ltd which was also mentioned in the company details of the broker. This tends to create lack of clarity in the corporate information of the brokerage company. Therefore, before risking your funds it is recommended to go through this scam broker review.
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About the 4xpoint:
4xpoint is a brokerage company which offers extremely generous leverage up to 1:1000, along with it, it also provides MetaTrader4 platform. It has a wide range of currencies, indices, commodities and a couple of crypto CFDs. The required minimum amount of deposit is $250 which is pretty average. Despite of providing over 40 Forex pairs, lots of stocks and Crpto CFDs there is a lot of vagueness. At the very first it is an offshore unregulated brokerage company, it is owned by Allmedia Ltd yet there is another company’s name mentioned in its ‘terms and conditions’. Secondly, it is not licensed by any official financial regulator like in the UK, the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) this makes all the operations of 4Xpoint on regulated markets completely illegal.
4XPoint brokerage company offers its traders different trading bonuses, like 100% welcome bonus, loyalty bonus, refer to friend bonus and all of these bonuses come with a minimum trade volume requirement. This can be counted as a negative point of the company, because the practice of offering trading bonuses and then restricting the right or the client to withdraw his or her funds of bonuses is controversial. It should be noted that trading bonuses are prohibited by all regulators throughout the Europe. When it comes to payment methods availability 4xpoint has no e-wallet payment method, it accepts only major credit and debit cards.
Is 4xpoint legit or scam?
Considering all the points regarding 4xpoint brokerage, it does not fall under a trusted brokerage company. Hence, it will be highly risky to put your funds in this company as it has no clarity in its corporate information and it is not licensed or regulated brokerage. Offerings various attractive products but providing very unclear and incomplete information sounds as a recipe for a scam. So, 4xpoint can be concluded as a scam.