4xpremium Review Scam Complaint
Scammed by a fraud Broker? Fill the Complaint form below to get help!
4xpremium is owned by Index Limited. There is no information regarding contact details, not much information apart of its owner company is mentioned on its website. As well as, there is no details of regulations are provided by the broker. 4xpremium is an unregulated broker that offers various financial instruments for trade and its clients are offered a choice of four types of accounts, micro, standard premium and VIP.
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About the 4xpremium:
4xpremium is a Forex brokerage company which is unregulated and seems to offer wide range of financial products like indices, commodities and stocks. It offers around 55 Forex pairs with various currencies such as Israeli Shekel, Thai Baht, South African Rand, Polish Zloty, Singapore Dollar, Danish Krone, Chinese Yuan, Russian Rubble, Mexican Peso, etc. There is plenty of CFDs on agricultural and energy commodities like natural gas, coal, oil, coffee, cocoa, sugar, cotton, corn and much more. The maximum leverage allowed with opening Micro Account is as high as 1:500, while the minimum deposit requirement is $250. 4xpremium offers MetaTrader4 platform for its services but this platform on its website is provided by another company, Explore corp. limited, which is probably a third party.
As not much information is shared about the company on its website with the public, it is often the case with the unregulated shady brokers. United Kingdom’s Financial Conduct Authority (FCA) has issued a warning against 4xpremium for targeting British customers without authorization and falsely claiming to be operating under a legit company, licensed by the regulatory authority. According to the Financial Conduct Authority this is a clone firm which is falsely claims to operate under a legit company which is licensed by the regulator Global Market Index Limited.
Is 4xpremium scam or legit?
Clearly, it’s not safe to trade with 4xpremium as it is an unregulated shady brokerage company. Moreover, this company is blacklisted by several regulators like FCA, which has even issued a warning against 4xpremium. Regulatory status of a brokerage company is one of the most important things to be considered before investing with it and 4xpremium doesn’t have this one. We advise all the traders and investors to not risk their money with 4xpremium. The lack of information about the broker’s contact details, trading conditions and regulations should be the loudest alarm for those who are planning to invest with this company. Hence, this is a scam broker and its claims are unreliable and vague.