de | cn | ru

4XRoyal Review - is it scam or safe?

4XRoyal Review - is 4xroyal.com scam or good forex broker?

RATING: 1 / 2 REVIEWS 4XRoyal
4XRoyal is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


4XRoyal is a forex and CFD broker offering several account types with a leverage of up to 1:500 and the MetaTrader4 platform. Unfortunately the information about the company that operates the broker is quite limited and the website is virtually anonymous, so if you are thinking about depositing your funds with them better read this review first.

 

Trading account  Min. deposit Max. leverage Spread
Micro Account $250 1:500 1,5 pips

Standard Account

$1000 1:500 1 pips
Premium Account $25 000 1:500 0,6 pips
VIP Account $100 000 1:500 0,2 pips

 

4XRoyal Advantages:

 

Good selection of trading instruments

 

We always try to list any potential benefits a broker might offer its clients and with 4XRoyal that should be the comprehensive list of trading instruments we found on their trading platform. For a start there were over 60 forex pairs, many of which minor or exotic like USDZAR, USDCZK, USDDKK, USDHKD, USDHUF, USDMXN, USDNOK, USDSEK, USDSGD, USDRUB, USDTRY, USDPLN and USDCNH.

 

And there were also plenty of CFDs – on indices, commodities like corn, wheat, cocoa, coffee, soybean, cotton and sugar, stocks, silver, gold, platinum, palladium, oil, natural gas and even a handful of crypto coins including Bitcoin, Litecoin and Ethereum. And besides, if you are temped by the idea of trading crypto coins, here you may check our list of brokers, offering bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 1:500

 

And this should be considered another positive point. 4XRoyal  offers leverage as high as 1:500 – levels that are currently available only with offshore brokers and brokers regulated in Australia – the last major regulatory hub, where higher margin trading remains unrestricted. So if you are tempted to trade with a higher leverage, despite the obvious risks, here you may also check our list of brokers regulated by the Australian Securities and Investments Commission (ASIC):

 

>>Brokers regulated in Australia<<

 

Acceptable spreads

 

As tested with a demo account the benchmark EURUSD spread floated about 1,5 pips and that might be considered acceptable with a standard account. Nevertheless, here you may also check our list of brokers, offering tighter spreads as well:

 

>> Lowest spread forex brokers<<

 

You can open a trading account with 250 USD

 

The minimum deposit requirement to open a trading account with  4XRoyal is acceptable. Just bear in mind that while most brokers also require about 250 USD, some well known names like FBS and IG will let you open a trading account with virtually 5 USD or even less.

 

4XRoyal Disadvantages:

 

No license

 

As we noted in the beginning of our review, 4XRoyal homepage is almost completely anonymous. It is true they say to have offices in the UK, Switzerland and Singapore, but we are not told which is the company that owns and operates the broker - 4XRoyal Limited or JCC Internet Payment Gateway – we found that name in the broker's legal documents, and as it turned out it supposedly processes all payments. Also, we do not know where those companies are based, and our experience shows that most probably they are based offshore. 

 

On top of that no where in their presentation  4XRoyal mentions anything about a licenses – a key element for the security of any investment on the retail forex market. 

 

That is why we may suggest that you better find a properly licensed broker, regulated by a well known financial authority such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC).

 

And besides, with a FCA broker your account will even be covered by an insurance of up to 85 000 GBP, so here you may check our list of brokers, regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

4XRoyal wants you to agree that you will not file for a charge back

 

This is simply ridiculous. A 'charge back' is a standard procedure with all card companies like VISA and MasterCard, with which you may recover your money – the deposit you have made with the broker – in case you happen to be a victim of a scam.

 

 

Besides, currently you can file for a charge back within 540 days, so you should definitely do exactly this in case a broker refuses to give your own deposit back. And besides, note that a legit broker will never refuse to pay back your own money.

 

MetaTrader4 provided by a third party

 

We were able to download the MetaTrader4, but as it turned out the platform was supported by another company - Lexbond Systems (LSystems Limited) and that we should note is not a common practice, unless the broker acts as a white label of the other company. 

 

Otherwise MetaTrader4 is one of the most commonly used trading platforms in the industry. It features many in- build, custozable market indicators, as well as trading robots with the help of which one can easily run algorithmic trading sessions. And besides, the platform has a nice pack of advanced charting tools, so here you may check as well our list of brokers supporting the MT4:

 

>>MT4 Brokers<<

 

Skrill no available as a payment method

 

Despite the fact that on its home page 4XRoyal  has the logos of popular e-wallets like Neteller and Skrill, as it turned out the only available payment options were card payments and some obscure e-wallet called VoguePay. See for your self:

 

 

And besides, the fact that Skrill is not among the payment option is notable, because of the new anti – scam policy adopted by the payment company, according which its services are available only to brokers with legit license. As we already discussed, 4XRoyal does not have a licenses.

 

Conclusion:

 

4XRoyal is an anonymous website that most probably is involved in scam - we are not sure about the identity of the company that operates the broker and they have some rather unusual clauses in their Client Agreement. So as usual, here we will repeat our advice to trade only with brokers licensed and authorized by well known regulators, such as the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

Latest news about 4XRoyal
No news about 4XRoyal. Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for 4XRoyal

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

 

 

4Xroyal recovery scam

They called and said they are a forex company who could recover money from scams.I said that i put money into a scam called CFDS100. They said after i received the money back from the scam i then needed to pay a 20% fee,which i agreed to do.They want me to put money into a forex account now but i said i would only do that after i recovered the money from the scam.
.

Wisernow 09/13/2019

scam

i think its a scam i pay 250 € for 7 days but my money is not on my account

Thommas Ingersvang 06/25/2019
de | cn | ru