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BaFin warns against 4xincome, orders it to cease operations

Aug 06 2019
By
Jonathan Smith

 

The German Federal Financial Supervisory Authority (BaFin) blacklisted unregulated forex broker 4xincome and ordered it to cease operation in the country. The regulator said that this broker offers German clients trading in forex and various CFDs thorough its website 4xincome.com without holding a valid license. 

 

4xincome is a trademark of Sky Hub Limited, a company that is obviously registered offshore, in Saint Vincent and the Grenadines (SVG). Needless to say, offshore brokers are not allowed to operate on any regulated financial market, including Germany and the entire EU.

 

Furthermore, 4xincome appears associated with a group of shady brokers related to the notorious Up4x4xbrands4xbanks, Kapitalfx, KapitalSwiss, Tradeu2, 4xbrands, 4xpremium,and many others. Some of them offer exactly the same trading conditions and also have very similar websites, so we suspect that 4xincome is involved in a serial scam scheme

 

In order to avoid being scammed and to have proper protection, investors should deal only with regulated financial services providers. Below, you can check out a list of reliable brokers legally operating in Germany

 

 

>> Top-tier brokers operating in Germany <<

 

TAGS: BaFin  warning  4xincome  scam  Germany 
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 MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

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