Updated on January 23, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding 4xCube due to the issues we've identified.
Is 4xCube Scam or Legit Broker? ▲
The legitimacy of 4xCube as a Forex broker is significantly compromised by its lack of any reputable licenses. Our strong advice is to steer clear of offshore and unregulated entities, as trading with such firms often results in the inability for traders to recuperate their invested funds or any earned profits.
4xCube advertises itself as a CFD and Forex brokerage, boasting about its 20-year trajectory across various markets and a supposedly transparent, true STP/ECN trading environment promising unparalleled security for trading accounts. Despite these assertions, the information provided about the broker’s registration is more likely to confuse than to assure potential clients of its legitimacy. Founded in 2018, the entity behind the 4xCube brand is registered in the UK, with additional connections to the Cook Islands through its so-called registered license. Nevertheless, the Cook Islands license, issued by the FSC (Financial Supervisory Commission), is offshore and does not meet the rigorous standards established for investment firms in more reputable financial jurisdictions. Trading with 4xCube might expose investors to significant risks, given that the broker only holds an offshore license and lacks more credible financial service licenses like the UK’s FCA or Australia’s ASIC. Offshore licensing often means there is minimal oversight on a firm's operations both at inception and throughout its operational lifespan. Offshore authorities generally do not enforce high levels of professionalism or customer protection, leaving offshore brokers to operate as they please, which often results in a highly risky investment environment.
Our findings and concerns regarding the regulatory status and safety of trading with 4xCube have led us to assign a low ranking to this broker. Based on our extensive experience in Forex trading and after comparing it against over 1000 other brokers, 4xCube’s overall ranking is disappointing. Specifically, we rate 4xCube at 1.0 out of 5. This ranking is considerably lower when compared to other industry-leading brokers.
The specifics regarding the processes for deposits and withdrawals at 4xCube are notably lacking in transparency and detail, further contributing to our recommendation to proceed with caution or to seek alternative brokers for trading activities.
None identified: Given the significant concerns regarding 4xCube’s regulatory status and operational transparency, we are unable to list any pros at this time.
Lack of reputable licenses: 4xCube operates with an offshore license, which severely undermines its credibility and the safety of traders’ funds.
Unclear registration information: The information provided by 4xCube about its registration and regulatory status is confusing and does not instill confidence in its legitimacy.
Potential risk to investments: Due to its offshore license and lack of adherence to strict regulatory standards, investments made with 4xCube could be at high risk.
Our comprehensive review and evaluation of 4xCube have led us to a negative overall ranking and experience with this broker. The primary concerns stem from its lack of reputable licensing and the consequent risks posed to traders' investments. We strongly advise against engaging with 4xCube for trading activities and suggest seeking more transparent and well-regulated brokers to ensure the safety of your investments and trading experience.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
4xCube Review 2024
