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4FX Royal Review – is it scam or safe?
RECOMMENDED FOREX BROKERS
Trading Accounts and Conditions
|Trading account||Min. deposit||Max. leverage||Spread|
|Micro||$250||1:500||From 1 pip|
|Standard||$1 000||1:500||From 1 pip|
|Premium||$25 000||1:500||From 0.6 pips|
|VIP||$100 000||1:500||From 0.2 pips|
4FX Royal presents itself as a MT4 broker, operating out of several major forex hubs. However, our research revealed that they are not licensed in any of them, and seem related to other shady brokerage brands.
Nonetheless, there are still a few supposed benefits of using 4FX Royal, and we will start off with them. So, if you are going to skim through this review, be sure to check out at least the first point of the Disadvantages section below.
4FX Royal Advantages
MT4 platform available, high leverage levels
For all its faults, 4FX Royal at least offers trading on MT4 and high leverage ratios, reaching up to 1:500. Such leverage levels would be more than enough even for the most aggressive traders out there. That being said, we should warn those of you who are not well-acquainted with the principles of margin trading that using leverage ratios that high could quickly and easily result in a serious loss.
As always, the availability of the MetaTrader4 (MT4) is also a good news. This is one of the best trading solutions on the market. It features numerous market indicators, advanced charting tools, user friendly interface and even customizable trading robots, allowing for algorithmic trading sessions. All that makes MT4 a platform of choice for professional and beginner traders alike, so here you may check our list of brokers supporting the MT4 as well:
As tested with a demo account with 4FX Royal the benchmark EUR/USD spread floated around 1.5 pips and this is in the upper range of what traders usually consider acceptable with a standard account.
4FX Royal’s demo desktop MT4. Click to view larger.
4FX Royal Disadvantages
No company name, no license
4FX Royal has declared offices in Switzerland, UK and Singapore, but mentions nothing about license, nor financial regulation on its website. What is worse, we couldn’t find any name of the company operating the brand and owning the website.
This means that 4FX Royal’s services and website are basically anonymous, and whichever the company behind the brand, it is not regulated. Doing business with unregulated broker is risky, and investing with an anonymous one basically means throwing your money in the trash.
Blacklisted by FINMA
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However , 4FX Royal obviously illegally operates on heavily regulated markets such as Switzerland, as we found out that Swiss financial regulator FINMA has added the broker to its warning list. This, of course, is another major red flag.
Possibly involved in a serial scam scheme
As you can see from the above warning, the broker obviously uses two brand/domain names. We have also reviewed another brokerage brand with a similar name – 4XRoyal – and we believe that all of them are run by one and the same people. All these brands offer one and the same trading conditions, account types, Terms and Conditions, and MT4 provided by Lexbond Systems LTD., among other things they’ve got in common.
Zurich Corporation and JBGlobal Trading are another two brands associated with the abovementioned company. So, we suspect that these brokers might be involved in a serial scam scheme.
No charge back allowed
Furthermore, 4FX Royal’s Terms and conditions explicitly state that clients agree they won’t attempt any chargebacks, which is simply ridiculous.
Click on the image to view full size.
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 fall a victim to a scam.
Few payment methods
As it turned out the only payment methods available at 4FX Royal are bank wire and an e-wallet we have not heard of before – NasPay. There is no option to pay with credit cards or popular e-wallets like Neteller and Skrill and that is worth mentioning, because of the new anti-scam policy Skrill recently adopted.
4FX Royal is another dodgy unregulated broker that has gotten under the radar of the Swiss FINMA. The broker’s website doesn’t even feature a company name, so it is clearly not legitimate and not regulated. Besides, we suspect that this broker might be a part of a serial scam scheme along with other brands related to Lexbond Systems LTD.
As always, we recommend that you only deal with well-established and licensed forex brokers. That being said, one of the most trustworthy authorities in Europe are the UK’s Financial Conduct Authority and the Cyprus Securities and Exchange Commission (CySEC).
And finally, here are the highlights of the present review of 4FX Royal:
|Generous leverage, seemingly good spreads||No company name, no license|
|MT4 available, good selection of assets||Blacklisted by the Swiss FINMA|
|Related to other shady brokers|
|Chargeback not allowed?!|
|Few payment methods|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
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Trade from your desktop or on-the-go with the most powerful & convenient trading platform for any platform.
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MTrading does not directly handle you funds. We work with your local bank to secure your financals transactions. All deposites and withdrawals are conducted through our affiliate banks.
Risk warning: 4FX Royal trading involves a high risk of loss. T&Cs Apply
Royal Forex Affiliate Regulations: Note: Services displayed in this website are provided by Royal Forex and not any affiliate entity Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Royal Forex does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan, Syria and North Korea.
4FX Royal Review: 4fxroyal.com Forex Scam
4FX Royal Review: 4fxroyal.com Forex Scam
Last Updated: Oct 30, 2020 @ 11:09 am
4FX Royal (4fxroyal.com) is another crude CFDs and Forex scam platform to hit the lucrative trading world. 4FXRoyal is claiming to offer modern investment advice to anyone who signs up with them. Other claims include having many ways to invest in and having one place to do so. Investors are also promised a chance to work with a professional adviser. Read this genuine and honest 4FX ROYAL Review for more.
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4FX Royal Review
After receiving a handful of email complaints from members, we knew trouble was brewing. And this is why we decided to investigate and expose these scam artists for who they are. Revealing the rogue platforms in the industry is our duty as we help protect the Forex trading name. Make sure to read all our in depth reviews which are unbiased and tell the actual truth. 4FX Royal is simply stealing from members and anyone who says otherwise is a part of this scam.
Professional scam artists are known to close websites in order to fool investors into signing up. Creating cloned websites has been the norm by scam artists targeting unsuspecting investors. Dealing with illicit brokers leads to more misery as most members of this platform are experiencing. Scam artists will use empty claims and promises to lure investors into depositing with them. And this is what 4FX Royal is doing with this rogue platform. Dealing with such insane platforms is prohibited.
About 4FX Royal
4FX Royal is apparently based in three locations, London, Singapore, and Sweden. A problem with this claim is having no facts to back up it up. Scam artist will do or say anything to make sure users trust them. Anonymity is a scammer’s best friend as it allows them to operate without being tracked down. 4FXRoyal is using three different locations to target both Asian and European investors. And it seems to be working as victims are from these two locations.
Who are the founding members of this website? Why have they failed to post details regarding the founding members of this website? Leaving such details is on purpose as they fear being caught by authorities. Once investors deposit funds with this platform, there is no way to track who handles funds. And this is what these scam artists are after as they don’t want to face any backlash from authorities. Any anonymous online investment platform should be ignored and their calls rubbished.
Is 4FXRoyal licensed or registered?
If this platform is based in London, you would expect them to be FCA Licensed and regulated. Upon reaching out to the FCA, they were adamant they have never licensed this broker. Another shocking revelation is the Swedish regulatory authority has already blacklisted this platform. On their blacklist page, they claim 4FXRoyal does not comply with set regulations and rules. And this puts your funds at risk as deposits are not insured.
Another issue we have with this platform is lack of proper information regarding their license documents. You would expect a real broker to have proper documents to prove their licensing status. Most professionals will post copies of their license to show transparency. Lack of these documents is proof we are dealing with an unlawful platform. Apart from claiming to comply with set regulatory bodies, there is no proof of this.
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Features of 4FX Royal/ Advantages
With a platform whose ownership is a mystery and base of operation is unknown, there’s no advantage. A huge problem with dealing with anonymous platforms is lack of regulation. These platforms don’t follow set rules and regulations which is a huge problem. Transfer of funds is questionable especially on the platform’s end. None of the members has had a smooth withdrawal experience with 4 FX Royal.
Disadvantages of 4FX Royal
4FX Royal is furnishing users with a single account type, ECN Account. After landing on their account page, various anomalies can be seen. Another problem with this account is lack of a demo account. Investors are signing up and using an unproven platform. Account used here is not having the required trading details for us to trust them. What is the required minimum trading deposit for users to start trading?
Deposit and Withdrawal
Another huge problem we noticed with this platform is lack of proper deposit and withdrawal conditions. These scam artists don’t follow their own guidelines when it comes to depositing and withdrawal. Looking at their account page, you can see they claim withdrawals are processed within two hours. And these are fake claims as none of the members we contacted have made any withdrawals.
Another huge problem with 4FX Royal is using fake claims to lure investors to sign up. Scrolling down their homepage, it is easy to see these claims such as trading tools and technical analysis. Some of the members have been complaining of receiving inaccurate signals leading to losses. Stay away from 4FX Royal or become their next victim.
4FX Royal is using MT4 web terminal as their preferred mode of trading. Although this is a good choice, we have issues with their website. Their trading tool website is not the same as their original home address. Another problem with their platform is having no security features putting investors at risk. Hackers will easily take over this platform and steal credit card information.
Are funds safe with 4FX Royal?
After a thorough check, we are sure funds are not safe with a blacklisted entity. Is it true what members are claiming? It seems members are depositing funds straight to owner’s bank account. And this is where we draw the line as this is turning out to be a rip off. Anyone who deposits funds should never expect to withdraw them. Lack of license is another major issue with this platform.
Is 4FX Royal a scam?
4FX Royal is without a doubt another online scam platform ripping off investors. Dealing with illicit platforms is one way of losing your entire deposits. Mark all their emails as spam to avoid being a target of their marketing campaigns.
By adding this broker to our scam list, we are making sure no one will fall for their tricks. Avoid any interaction with their call agents.
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4FX Royal Review – 5 things you should know 4fxroyal.com
Beware! 4FX Royal is an offshore broker! Your investment may be at risk.
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
4FX Royal says to be a forex and CFD broker offering four account types with competitive spreads, leverage as high as 500:1 and a choice between a web based platform and the MetaTrader4. And the broker also says to have offices in the UK, Switzerland and Singapore and to offer ECN trade execution and many other benefits to their clients.
Unfortunately the broker turned out not to be regulated, and what is worse it appears in the warnings list of the Swiss financial regulator. Before depositing any fund with 4FX Royal better read the following paragraphs.
4FX Royal regulation & safety of funds
As we noted 4FX Royal say to run their global operations through offices in the UK, Switzerland and Singapore. Bear in mind that those are strictly regulated markets and all brokers, operating there should be properly licensed and authorized by the respective local authorities. So we diligently checked the registers of the Financial Conduct Authority (FCA) in the UK, the Swiss financial regulator FINMA and the Monetary Authority of Singapore (MAS), but were unable to find any trace neither of 4FX Royal, nor 4FX Royal LIMITED – the company that operates the broker.
What is worse, we did find FX Royal in the warnings list of the Swiss regulator. See for yourself:
So basically what we are dealing here is most probably a scam broker, that illegally tries to attract customers in Switzerland and other regulated markets like the EU and Singapore.
4FX Royal deposit/withdrawal methods and fees
Although on its homepage 4FX Royal displays the logos of various e-wallets like Neteller and Skrill, when we proceeded with our registration the only payment methods available turned out to be bank wire transfers and an obscure e-wallet – NasPay. The absences Skrill is notable because of the new anti scam policy of the money transfer company, according which they partner only with licensed brokers. As we already established 4FX Royal dose not have a license whatsoever.
Also, another worrisome sign is that 4FX Royal want their clients to agree that they will not attempt to make any charge backs, and this is simply absurd. An undeniable right of every customer, who feels he or she has been cheated, is to file for a charge back with the respective credit card company. Besides, both VISA and MasterCard currently allow their customers to file for a charge back within 540 days.
Otherwise the minimum deposit requirement is in line with what we usually see with most brokers – 250 USD.
How does the scam work?
Most scam scenarios usually start when the victim gets hooked by some too good to be true investment opportunity, that you may see on one of the so called robo scam websites like Bitcoin Revival and Bitcoin Profit. So if you happen to land on one of those websites, you will be greeted by a nicely cut video, telling you the story of how easily you can get filthy rich, by just investing a small amount with some state -of -the -art trading app or platform.
But first you will be just asked to register, by leaving you r e-mail and phone, and if you do that, in a second you will be transferred to the web page of a unregulated, scam broker, where you will be offered a trading account in an exchange of an initial deposit of about 250 USD.
And do not be surprised of how successful your initial trades will be. This is just a part of the trick, scammers will simply be manipulating your account so that later you will be more easily convinced to deposit more, like at least 10 000 USD – that is what your senior account manager will suggest any way, as you will be getting a lot of phone calls by that time.
And believe it or not but at that stage many people do invest that kind of money without knowing they have been scammed until the very moment they decide to withdraw some of their funds. Than all of a sudden they are be told they have no right to withdraw, because they have not reached some minimum trade volume requirement, possibly linked to their welcoming bonus. The excuse might certainly be different, but the result will always be the same – scammers will not pay a single dollar back.
What to do if scammed?
Although in the unfortunate event you have been scammed, the chances to recover your money will be pretty slim, you can always file for a charge back with your credit card company, if you have payed with VISA or MasterCard. As we already noted, the good news here is that both companies will allow you to do that within 540 days.
And if by any chance you have revealed your credit card number and online banking password, immediately block your card and change the password.
Also, do not trust the so called recovery agencies. They will not help you in any way, but simply will require some payment in advance, leaving you even deeper into the red.
Fighting online scams since 2020
BEWARE of Smart4EX, 4fxRoyal, GCE Capitals, Tradezmarket and Vetoro Banc
The British financial regulator FCA has extended its blacklist with more unregulated brokers.
Table of Contents
Smart 4EX is presented as a decentralized platform for CFD trading. The underlying assts are currencies, commodities a stock indices. There is a also an investment program that is supposed to give you 50% returns on investment in just a few weeks.
Smart4EX is therefore a complex investment service and it is based in the United Kingdom. Unfortunately, it is not authorized by the FCA, therefore it is an illegal service.
GCE Capitals offers cryptocurrency and fiat currency trading. It is a broker, and so it needs a license from a financial regulator.
GCE Capitals claims to be base in Switzerland, but its phone number is British. However, the broker is not licensed in any of those countries, it is not regulated at all.
4FX Royal is a Forex, commodities and stocks broker. Its headquarters are in the UK, meanwhile it supposedly also has offices in Switzerland and Singapore.
But 4fxRoyal has no authorization whatsoever to provide investment services, so it is breaking the laws in every country it is seeking customers.
Tradezmarket is a Forex broker, so it allows its clients to trade with currency pairs. The minimum deposit to open a real trading account with this broker is 10,000 Euros, which is a very high amount.
Tradezmarket allegedly has offices in Bulgaria and Switzerland, but according to the FCA it has no authorization to provide investment services, it is a broker that is not regulated.
Vetoro Banc is a brokerage that allows currency, commodity, stocks and cryptocurrency trading.
Vetoro says it is based in Great Britain, so it should be regulated by the FCA. But it is not, it has no license, which was confirmed by the FCA.
Smart4EX, 4fxRoyal, GCE Capitals, Tradezmarket and Vetoro Banc are unregulated brokers, the Financial Conduct Authority has warned against them. Stay away from them.
For financial trading you should always use regulated brokers.
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