de | cn | ru

4XFX Review - is it scam or safe?

4XFX  Review - Is 4xfx.com scam or good forex broker?

RATING: 1 / 47 REVIEWS 4XFX
4XFX is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

 

Account type Minimum deposit Maximum leverage Spread
Starter $250 1:100 Fixed, from 3 pips
Silver 0.5 BTC 1:100 Fixed, unspecified
Gold 1 BTC 1:200 Fixed, unspecified
Platinum 10 BTC 1:200 Floating, unspecified


4XFX is a forex broker, which has obviously chosen a creative name. Their offer is very broad with multiple assets and platforms, but also has quite a few holes in it. Read the full review to see both the strong and weak sides of this broker and why we ultimately gave them this low score.


4XFX Advantages


Three trading platforms
4XFX allows you to access the global financial markets via MetaTradert4, another web trader, and a mobile app. This offer is so wide, it even seems excessive, as MT4 has a mobile and web version by itself. This is a proven platform, which we will always recommend to beginners and veterans alike.


That being the case, we decided to take a deeper look into the proprietary web-based platform, offered by 4XFX. First of all it is by no means an in-house solution – we have seen this layout with other brokers. Here is a preview:



The web platform at 4XFX


The most unique thing here is the fact this system is linked to an MT4 account, as the most experienced traders can see in the order box. Trading is done with the standard lot sizing (1 lot = 100,000 currency units) instead of entering the actual nominal size. While this offer may seem a bit useless, given the strengths of the default Meta Trader, some traders may enjoy it.


>>Extensive list of brokers offering MT4<<


Plethora of markets

When trading at 4XFX one can trade much more than the major forex pairs. CFDs on Indices, Commodities and even a few specific Stocks are also available. A cryptocurrency offering is also in place, but as far as we can tell it is also done via CDFs and not the actual coins.


High leverage provided
Both of the levels offered by this broker (1:100 and 1:200) are suitable for most trading styles. That being said, such ratios can also lead to relatively quick losses, so be sure to learn about the risks involved and how to manage your risk.


Many payment methods, not fully disclosed

Payments to and from 4XFX can be made by Bank Transfer, Credit Cards and “more than 20 digital methods”. The latter group isn’t specified and one must contact the customer support to get the details. Given the fact some of the account types require a Bitcoin deposit, we suspect blockchain transfers are supported.


4XFX Disadvantages


Not regulated, claiming to follow rules

4XFX is owned and operated by GRF EUROPE OÜ, a company based in Tallinn, Estonia. An operational office in Germany is also mentioned. As far as the regulatory status of the firm goes, they claim to apply “Order execution as per the MiFID 2006/73/EC Directive”. While this may sound impressive, it’s only a pledge to follow a certain ruling, with no financial regulatory agency monitoring them. We checked with the Estonian Finantsinspektsioon, and GRF EUROPE wasn’t listed as a regulated entity.


Spreads aren’t clear, high ones in the platform

Despite offering a broad range of markets, 4XFX only briefly describes them, instead of giving a detailed description. The spreads we saw, when testing the platform were wider than the current industry averages (a 3 pips fixed spread on EUR/USD).


>>Compare some of the tightest spreads here<<


High minimum deposit, BTC ones for bigger accounts
The minimum requirement at 4XFX, of $250 is higher than the levels set by other brokers. Nowadays you can start trading with a $100, $50 or even lower investment at other places. Additionally the latter account types require a Bitcoin investment, which (with the current prices is very high).


Website tends to lag
While this isn’t a big deal, we felt the need to mention it. This warning message appears approximately every other time you go to a different page:

What you will frequently see at 4XFX

Conclusion


4XFX is an unregulated Estonian forex and CFD broker. They provide access to a lot of markets, but the presentation of the trading conditions is basically non-existent. The fact some (but not all) account types require a Bitcoin deposit is rather unusual and leads us to believe this broker may have been “stitched-up” from several other websites.


That being said, the lack of regulation is by far the biggest problem we have with the company. Trading with such a broker always carries a high level of risk. As a comparison, we will briefly present two of the rules followed by the companies registered with the UK’s Financial Conduct Authority (FCA):


>>UK FCA-regulated brokers <<


1) client accounts must be segregated from the company’s own balance. Simply put this means, the broker can’t use your funds for marketing campaigns, paying salaries or anything.


2) the Financial Services Compensation Scheme (FSCS) protects you, if your partner goes bankrupt. This is a rather complicated system, but even without knowing all the details, one will know he will eventually receive his investment back if his broker shuts down.


Here is a summary of 4XFX:

Pros Cons
Three trading platforms Not regulated, claiming to follow rules
Plethora of markets Spreads aren’t clear, high ones in the platform
High leverage provided High minimum deposit, BTC ones for bigger accounts
Many payment methods, not fully disclosed Website tends to lag

 

Latest news about 4XFX
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Hong Kong SFC MarketSpeed FX,
Trading Station
$1 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa, UAE CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website

Traders` reviews for 4XFX

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

4xfx - goodbye to $250

I totally agree with all comments below.
its a scam.
goodbye to 250 usd

L Hebden 01/17/2019

I did received my $250 back

Guys

As promised on my previous comments. I did received back my $250.

Thank you Andy for all your assistance

Pieter Warnich 01/08/2019

Fast talking operators

Recommend4d favourably by Martin Lewis bit I can’t see why. Incomprehensible foreign people manning the phones.

If I had seen any of these revie3s I would have not bothered talking to them

Nicholas Ireland 01/07/2019

4XFX - No refund on $250

I refer to my comments in October 2018. I have spoken to guy by the name of Andy and he promise me that I will receive my $250 back. It was mistake on my side and apologies to them. All the required documents were forward to them and they acknowledge.

When I receive the money I will inform the site.

Pieter Warnich 01/02/2019

Scam - they won't let you withdraw

SCAM SCAM SCAM you deposit £250 never to see it again. They won't let you withdraw it.....they come up with all the scams to clone your card and identity.BEWARE!

Mark 12/28/2018

no trading

can i get my money back from 4xFX

Frederick Paulson 12/26/2018

Scammers

I have repeatedly tried to get my money back from them (£250.00) and close my account, but they continue to ignore me, is there anything I can do to get my money back.

Ronald J Day 12/18/2018

Money away

I also fell for the company, paid 500 €, Can not retrieve the money. What can you do, how and where to complain the best? Who is the contact person for such things in Germany?

Karsten Lenk 12/09/2018

Big mistake

This investment though 259 Euro $426.49 NZ has been one big mistake and I want my funds withdrawn to the account i paid into Voguepay
my trading account # 81918188, amount 250 EURO Payment method Praxis CC55, Transaction ID 3872168
I want my money back

Richard Dargaville 12/04/2018

Don't invest with 4XFX

The slick advert for investing in Swedish crypto was all the more convincing by being immersed in my Yahoo portfolio news page. I sent £500 to Kryptonex Research Group and, like the advert said would happen, someone called me even before the transaction through Visa had completed. He gave me a 'secure' code for future calls because 'there are so many criminals'. Next I received an acknowledgement from 4xfx that my account had been opened but nothing else from here on matched the advert. Too late I checked the reviews and all screamed 'scam'. I tried to withdraw my funds back to Visa but nothing happened. By email they gave me a list of requirements before they would release my money:

• Color copy of a valid Government issued photo ID (front and back)

• A copy of utility bill not more than 6 months old

• Color copy of a credit/debit card used to deposit funds on your account (front and back)

• A photo of yourself holding the front of your ID

- everything they would need to steal an identity. I intend to pass this on to Visa's fraud department.

Ronnie Hayes 11/24/2018

Getting money back

I have been trying to get a reply from them for 3 weeks. They never answer my emails or answer the phone. Don't know where to go from here

Lynda Graham 11/22/2018

A complete scam

I personally think this company is a complete scam. The phone numbers they use to contact you appear to be done through a computer as when you try to contact them using the same number you're told by the operator that the number doesn't exist. Trying to contact support presents much the same problem. They also without your permission remove money from your bank account. They claim that once they have received your application they will do various credit checks before opening your account and giving you your account and security number. This is rubbish as they gave me these details immediately when I enquired about opening a starter bitcoin account for £250. When I next checked my bank account they had immediately on payment of the £250 removed a further £1000 without my permission and the following day removed a further £300 again without my permission. In their terms and conditions, it states that all deposits must be made by the client!! When trying to contact them on the phone numbers listed the operator informs you these numbers don't exist nor are you able to contact MAX STANLEY with the details provided after he's contacted you. I also received a call from him trying to browbeat me after I had reported the company to the fraud squad at my bank. Since then they have blocked me from trying to access my account .

Peter Harrison 11/21/2018

Criminal fraud

4XFX Steven Bauman kept requesting further funds. I stopped answering his calls. Last night he put losing trades without my permission , in 1 hour he wiped my account of $54,000 USD.

John michak 11/20/2018

4xfx is a scam

4xfx is a scam. Trading platform stopped working last Fri, 16.11. and still does´t work. Broker "Bryan Phillips stopped responded to the skype calls. Unfortunately, I am going to loose probably 7.000 euros.

The company owner is Oliver Hemmer. Registered by KRM in Estonia in March 2018. Somebody like to join in returning money operation, welcome.

Alexey 11/19/2018

Scam - avoid like the plague

Awful. I authorized a deposit of £250.00. when I received my bank statement, I had been debited £362.19. I have received numerous promises that they would sort this out but I am still waiting. I have reported this to my bank as fraud.

I suspect 4XFX are a bunch of crooks, avoid like the plague.

Eric Gillett 11/19/2018

Scam - never again!

I tried this outfit only because it sounded like exactly what I needed. I know nothing about this stuff, and from what the YouTube video that I received on my phone it said I would make $5700 in 41 days. It was a turn key deal. Well I never saw any of the things they offered and I also ended up losing $250. I am on a disability pension. It is sad to see this stuff happen to people. NEVER again. Getting my money back is a farce. Those people have no conscience. Not happy.!

Craig Stewart 11/14/2018

Newest victim

Im a new victim. I saw an apparently fake news in Facebook about Singapore going to crypto. Just followed the links, and suddenly I was in 4xfx. Im a completely inexperienced with trades, and just wanted to try, but Adrian Novak convinced me by phone of buying the minimum quantity of bitcoin, which was aprox 1200 Euro. So I deposited a total of 1450 euro. Then the verification process, and there I started to doubt. The back of my card was rejected, so I sent an email, and they answered that they were trying to call me for my withdraw, BUT I HAVEN'T TRIED A WITHDRAW. So they are already giving fake answers because they are used to their scam. Don't know what to do. How can we organize together and try that police catches them?

Tino 11/10/2018

Тhey are scam, I can not withdraw my fund

I read an article about 4XFX and I wanted to give it a try, I deposited a minimum amount, I started receiving calls from gentlemen his name is Ben trying to convince me to deposit more and invest more. I rejected and wanted to take it easy to discover more about them. I gained a small amount of profit and I wanted to try and see how much they are legit, I withdraw the amount and after few days I found that Ben has canceled my withdraw, I tried again to withdraw and found that this guy has blocked me from withdrawing my fund.

Motasem Al-khalifa 11/02/2018

Plaintext passwords

After setting up my account they sent me a confirmation email wih my password in plaintext.

This is very insecure and means that they know your password.

They also keep phoning me claiming to be very secure but the person on the phone did not seem or want to understand that storing passwords in plaintext is poor practice.

Paul Hewlett 11/01/2018

Glad I read these reviews - shocked how they advertised on LinkedIN

New to all this, got suckered in by the adverts and 'set up' an account. Not deposited money as wanted to read reviews and glad i have.

What surprises me is I got this far based of LinkedIN recommendations / posts.

Chad 10/29/2018

Total scammers

TOTAL SCAMMERS! I've been trying to get my money back with no luck, they are patronising and aggressively rude I am a canadian citizen and apparently I'm not their only victim, do not trust those people. I made my research and I've found out that they are based in israel and the owners name is S. Y. F. ,I will file an official complain to the local israeli police , I will get my money back.

Thomas 10/22/2018

No refund on $250

I invest with them last week and realize that was a mistake. I requested a refund and they requested a lot of information even the back side of my card. I told them that I will not provide the information and they were rude. I will not receive my money without the information.
I believe that I also lost my money!!!

Pieter

Pieter Warnich 10/19/2018

Big scammers

I should have realized that this was a big scam just be warned do not invest in 4xfx Kontofx big big big scam may the curse of africa be upon you.

CM 10/17/2018

4XFX are big-time scammers from way back

I remember Stock Market Scammers working out these Baltic States way back in the 80's and 90's, flogging worthless stock to unsuspecting Investors and then sit back and collect commissions on all the trades THEIR "Automatic Trading System" would generate until all your investment money was gone. It's amazing to think something that old is now new again, I should have realised how this stunt worked, especially when it's based in Estonia. Fools and their money are quickly and easily parted. I wish there was a way of bringing these criminals to justice because you can't stop people from doing stupid things.

John R Hodson 10/16/2018

4XFX a total scam

Do not trust 4XFX
A total scam at every level.
Thye will take your deposit to trade.
WILL NEVER return your money. Withdrawals are
never honoured and will continuosly make
excuses to avoid paying you back.After initial
Deposit They will make 1 payment back to win your
Confidence BUT this is a trick to lure you
To deposit more money.
4XFX Will change your account login password without
your knowledge.
They ask for card-bank details (front and back)
They will attempt to take money out of your
Account through. The brokers use multiple
Skype accounts, change names frequently.
In short a complete bunch of CROOKS AND CRIMINALS.

Avoid 4XFX AND TRY AND EXPOSE THEM ON
EVERY POSSIBLE CHANNEL.

Anon 10/01/2018

4XFX Scam - be aware

I deposited $250 and then received a call from Michael novek...he said there was an offer so he will deposit $250..and I can withdraw as soon as I can and if make a loss it will be from his deposited money and mine will be safe. He also mentioned that he will start the software on my account.
After two day nothing happnened and I submit the wihtdrawl request(take 5 days to complete) then I receive a call from Carl my account manager. He said Michael has left hence no further deposit was made into my account...I made up a story and said when my friend join u guys two months back..he spoke to Michael initially and two days later he received a call that he has left...and u r telling me the same thing...Carl (European accent & not sure if it was his real name) said tbh he did left us but as we are expanding he rejoined and now he left again...what a load of rubbish..that proves a lot...so becarefull...third day now as waiting for my refund...Good luck

the one 09/26/2018

BEWARE - You invest in these follks, you will never see any of your money again

Fool me once, shame on you, fool me twice, shame on me. They took my $250.00 US, then sent an email requiring me to do the following to activate my account. If I sent them this information, they would have been in a positin to steal more from me than the $250.00 US. They will not refund my money even though the account hasn’t been activated. Total crooks, beware, it is all a con game to steal your money. Thankfully, I only lost $250.00 US


This is what they sent me.
Thank you for choosing

Your account Username & Password are listed below.

In order to activate real trading account, please complete the registration process by configuring your account and submitting the necessary legal agreements and accepting all legal disclosures.

The legals documents required are:

Proof of Identity :

Coloured copy of your passport or copies of the front and back of your Identity Card showing clearly your full name, your photo, the date of birth, the expiration date (valid), the official document number and your signature.

Proof of Address :

Clear copy of a recent utility bill (any bill that is not older than 6 months and clearly shows your name and permanent address of residence e.g. water bill, electric, gas, telephone etc…) or a bank statement showing clearly your full name, address and the issue date.

Your login details :

Login: your email address
Password: $2y$10$d1/LcI5jJmcTF6zrWUmyEO/zZSZ7QFw2j/2OTkordwpOogmMqOJJW

In case the button is not clickable copy link below and paste in browser address field Finish registration.

Wishing you an enjoyable and profitable trading experience!

Regards..

DickRichards 09/26/2018

So-called investment win 4XFX

I am livid not o0nly with this so-called trading company but also with my own stupidity,oh yes I was so stupid.I invested or thought that I had invested $1000.00 [and let me tell you at 80 years old that is a lot of money]After the first week a person called Jamie phoned me to tell me that he had made me a $400 profit and was building :do I want to invest more"I said not at the present time he rang me each week askinf for more money and each week my profit went up to $2600.00 I thought ok ill take out my original investment and leave the $1600.00 profit in there two days after my application they advised me that I must send bank account details,licence with photo,electricity account etc.anyway I got them ready to send and looked at my account details and low and behold I had $102.00 in my account.I sent emails and emails asking what had happened to my $2600.00 and after two weeks am still waiting for a reply.jamie rang me today asking for more money and I told him to go to hell and back.DO NOT PUT YOUR HARD EARNED MONEY INTO THESE CON-MEN YOU WILL NOT SEE IT AGAIN...

fred lindh 09/21/2018

4XFX will not allow fund withdrawal

A bunch of crooks. Manager cancelled my withdrawal request with no reason other than I assume they do not give you your money on request.
Avoid like the PLAGUE !!!

steven woodhouse 09/17/2018

4XFX - want my deposit back

My fault for going with this company i wanted to invest £250 i was foolish to believe that a company would make me money and help me learn the system,they would ring me at work everyday but would not call me in the evenings even if they made booking with me,still would not call in the evening or weekends.
kept asking me to invest more money after 2 days with them,so i declined that so guess what no more calls...
so i sent an email says wanted my deposit back, yes you can how ever please take pic of youre bank account front and back,passport details and photo, and house hold bill with street address.
surely thats not right?

Andy.

andrew 09/09/2018

4XFX/Shark Tank - I got off lightly

Disgusting to say the least, if it wasn't for this forum, I would have been another victim.
I don't understand how they're able to ride on the Bit-coin name in the first place.
What was worse the link I use was associated with a TV program on channel 10 in Sydney,called Shark Tank. It showed the two brothers who apparently came up with the so called app, where you couldn't lose your money.
It was sold to the investors, it looked legit. That there is an app that generates you money, from my understanding of the program. The so could Bit-coin app wasn't the one you were purchasing for $250 and up. It takes to a these Muppet 4X4FX. The red flag for me was the bold writing in red at the top of the page, telling you it was an limited offer and it was going to close it's doors by the end of the day, due the high volume of numbers. I then automatically got a call from Holly Morgan, the account manager, she rang three times mind you. When I finally answered, her English was rubbish, trying hard to pull off the American accent,I told her where to go and hung up.
It was an Adelaide number feel free to give her a call or try and track her down first, to reclaim your money. It's an Australian number for those outside, +61871303548, its a good thing I checked, thanks once again.Joe.

Joe 09/06/2018

Trying to get my deposit returned

On further reflection I decided not continue with 4xfx.I have been trying to get my deposit returned so far without success.

E R Griffiths 09/06/2018

Beware they are a scam operation

I deposited £250 I have been trying toget my money back for weeks butthey keep telling me to verify my account but this has not been possible. These people are total scammers and shoud not be allowed to opperate.

miranda Summers 09/05/2018

4xfx Thieves

Not reliable
They sell you fake dreams, I was told that I must use their program so that it can help me generate profits daily, that I can make $80 and more daily but instead I lost all the money I deposited and they said I need to deposit again, $250 is a lot of money in South African Rands and I just lost it like that.

Cindi 08/29/2018

I Feel sorry for you Cindi. I lost R40 000.00 to these guys. Real crooks. The authorities in South Africa are aware and investigating them.

Ashley 09/03/2018

Not reliable

They sell you fake dreams, I was told that I must use their program so that it can help me generate profits daily, that I can make $80 and more daily but instead I lost all the money I deposited and they said I need to deposit again, $250 is a lot of money in South African Rands and I just lost it like that.

Cindi 08/29/2018

4XFX is a scam operation

My husband lost all our money to these crooks. BEWARE.

L.Adams 08/21/2018

4XFX con artists

People please beware of 4XFX. I lost over R40 000.00 to them. Telling you to deposit more money so they can recover your money. Bullshit!!! Adrian Novak, Thomas Milner, Jamie Gold, Alex Price are all Aliases these guys us. Something must be done about these crooks. If you invest with them, your money is gone!!!

Mr A Fortune 08/20/2018

4xfx Crooks

Can't these scammers be reported to Interpol.

A Fortune 08/20/2018

Scammers

This is a total scam

John wilson 08/15/2018

scam

Dont put money with them they are liars and scammers you will be lucky to see your money again

Brian Mattschoss 08/07/2018

4XFX Scam?

I have invested money amounting to 2950.00 USD, which automatically
just vanished. I was told to invest more for them to recover the losses.
I think they should be investigated cause something is not right. I took that money out of a bank here in SA where I received 10% PA. Now its gone.

Mr AI Fortune 08/06/2018

Scammers

This company should be investigated under european law,
they took my £250.00 then asked for a further £5000.00 which I refused, I have written to them asking to cancel and waiting to hear from them, whilst writing this, their General Manager has been on the phone and has assured me that all will be well,he is going to phone back tomorrow and that I can have my money back if I don't want to proceed, watch this space !!!!!

Ronald J Day 08/06/2018

4XFX took deposit of US $250 but insisted on another US $3000 for Bitcoin investment

Terrible to deal with and I believe they are a total scam. Was assured that all I needed was US $250 to start trading, however after depositing funds I was told I need to have a US $3000 Bitcoin investment before they can trade.
I advised them that I did not want to invest more money and put in a withdrawal request for my $250. I received a confirmation that my money will be refunded within 5 working days but after 8 working days I contacted them numerous times as to the status of my refund but could not get a reply. It has to date been 12 working days since my withdrawal request confirmation from 4xfx.

Brian Capper 07/30/2018

they are scammers

in the morning i was contacted by "adrian novak" and in the evening by a "mark novak". they kicked off with my $250 and i am UNABLE to log- onto my account because THEY HAD MY "PASSWORD" CHANGED. And I am a pensioner.


nurbhai

security code : - tmbrtt

gamat noor salie 07/22/2018

4XFX- Don't touch them

Do not go any where near this lot as you will certainly LOSE your money.

They call on a regular basics trying to get you to invest more money and when they finally know that you won't they change your password so you can't access your own account.

THIS IS NOTHING MORE THAN A SCAM

Paul 07/15/2018

4XFX - Invest at your Peril

I agree with Mike 06/16/2018 - this Company 4XFX is a scam operation.
In attempting correspondence with the company I received an email
from "Mike Smith" who was listed as an Account Manager, encouraging
me to invest. He forwarded me a 'Direct Activation Link' which was
a facility to make a US$250 payment via a personal credit card.
Anyone genuinely wearing the name Mike Smith would be a born
English speaker and writer. Not so this gentleman. I believe Mike Smith
to be a Nom de Plume and I urge anyone else contemplating investing
to be warned -
YOU ARE GOING TO LOSE YOUR MONEY

John Little 06/21/2018

4xfx is a scam

4xfx is a scam they won't let you withdraw your money compete crooks don't be scammed bye them like me there grub s they take over your account they changed the password I would like to no were they are absolutely they are crooks

Mike 06/16/2018
de | cn | ru