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ASIC blacklisted unauthorized forex broker 4XFX

 

The Australian Securities and Investment Commission (ASIC) added unregulated forex broker 4XFX to its warning list previous week.  ASIC advised investors not to deal with this broker, also known as FRG Europe OU, as it is not authorized to provide financial services in Australia and could be involved in a scam.

 

4XFX (operating via www.4xfx.com) claims to provide access to a lot of markets on both the MetaTrader4 and a proprietary web-based platform, but has failed to disclose its trading conditions clearly. The brand is allegedly operated by GRF EUROPE OÜ, a company based in Tallinn, Estonia. However, it is not authorized by Estonian Finantsinspektsioon, nor by ASIC or any other governmental agency.

 

What is worse, we have received a lot of negative feedback on 4XFX. Most people who have commented our review of the broker say that 4XFX won’t let them withdraw, as is the case with most scammers. Some investors even said that the broker made unauthorized withdrawals from their bank account.

 

The ASIC is an independent body that oversees the corporate, markets and financial services markets in Australia. It regulates local companies, financial markets, financial services organizations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit.

 

TAGS: ASIC  4XFX  scam  Australia 
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