Updated on January 31, 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 4xpoint due to the issues we've identified.
Is 4xpoint Scam or Legit Broker? ▲
Engaging with 4xpoint poses significant risks as it lacks regulatory oversight. Our in-depth analysis reveals that 4xpoint is not a licensed entity, further raising concerns about its legitimacy. Moreover, there are strong indications that the company might be involved in fraudulent activities. Our investigation failed to verify the broker's declared address, suggesting that 4xpoint might be operating from an undisclosed location, far from the scrutiny of financial regulators. This lack of transparency and regulatory compliance marks 4xpoint as a potentially unsafe broker for traders.
4xpoint markets itself as a Forex broker, promising a superior trading experience across a wide array of assets, including shares, currencies, commodities, indices, and CFDs. The broker claims affiliation with Allmedia Ltd., based in St. Vincent. However, our research indicates a dubious connection between 4xpoint and Yukon Global Ltd., a company previously known for operating without a license under the name forex-point.com. This previous entity had a tarnished reputation due to allegations of fraudulent practices and received formal warnings from regulatory bodies. The transition to the 4xpoint brand appears to be an attempt to escape this negative history and continue targeting global clients from a new offshore jurisdiction, without addressing the core issues of legality and transparency.
Our findings suggest a pattern of behavior among unregulated or offshore brokers, such as changing names or jurisdictions, to evade legal repercussions while continuing to operate without authorization. This strategy endangers traders' funds, which are often irretrievable once deposited with such entities. It is imperative to prioritize safety by choosing brokers regulated by reputable authorities. Trading with regulated entities ensures adherence to stringent standards and provides a safety net for traders. Based on our extensive review of over 1000 brokers, we strongly recommend against engaging with 4xpoint and advise traders to seek alternatives among regulated brokers in established jurisdictions. Regulated brokers, such as those overseen by the FCA in the UK or ASIC in Australia, offer a secure trading environment, ensuring that traders' interests are protected.
Our latest update reveals that the 4xpoint website is no longer operational, indicating a cessation of its trading services. Despite this development, we urge traders to remain vigilant and steer clear of any future offers or solicitations from this broker. The lack of activity does not negate the risks associated with 4xpoint, and it is advisable to avoid any association with this broker or similar unregulated entities. Our recommendation is to always verify the regulatory status of any broker before initiating trading activities, to ensure a safe and secure 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.
4xpoint Review 2024
