4xpremium Review: Is 4xpremium.com Scam?
Welcome to the 4Xpremium review. 4xpremium is not regulated by any financial authority.
There is an FCA warning against this broker already. The FX broker is offering a wide range of financial assets for trading regardless.
They advertise minimum spreads as 0.2 pips. To get started with this broker, traders are supposed to fund their accounts with a minimum of USD250 or EUR250.
4xpremium offers MT4 client desktop, web terminal and Android trader platforms respectively.
There are 4 types of trading accounts. Traders can choose based on a number of factors such as commission charged, leverage, minimum deposit, assets available for trading and many more.
To know more about 4xpremium Forex broker and why you must never trade with them, this review will give you some useful insights.
While this broker claims to offer competitive spreads to their customers, their unregulated nature automatically makes them unreliable and disqualified.
Typical spreads for a pair like EURUSD on the demo floats between 1.4 and 1.6 pips.
If you want favorable spreads, 4x Premium Forex broker demands that you should fund your account with $25,000 and above.
The broker offers the popular MT4 trading platform, which the Forex community loves generally due to its versatility, ease of use, compatibility and many other advantages.
Besides, 4Xpremium offers Android and iOS mobile app trading as well.
They also seem to be covering a wide range of assets as well which include Forex, CFDs, commodities and even Cryptocurrency pairs.
Variety is a good thing. But you have to remember that there are regulated brokers out there who are also providing this kind of variety. I would prefer a regulated broker than an unregulated one.
4xpremium Review – the bad side of this broker
This broker is probably associated with a group of shady other brokerage entities.
The broker is associated with Index Limited, which seems to be the mother company behind its activities.
However, ownership information is not provided on the 4xpremium website.
This is the norm of many scam brokers who want to operate without detection.
Instead of their About us page giving an explanation on who they are or what their regulatory status is, the broker only published vague thoughts concerning their mission.
There is also reference to ECN trade execution, security and many other promises.
There are many brokers whose websites looks pretty much alike the one presented by 4xpremium.
We suspect that this is just one of the many scam brokers operating on the internet and targeting naive traders.
According to the Financial Regulator in the UK, 4xpremium is a clone of a legally registered broker called Global Market Index Limited.
The FCA has simply asked traders to avoid this broker at all cost.
Also, the MT4 platform is provided by a third party called Explore corp. limited. 4xpremium broker does not tell us anything about this affiliation.
Not only is this creepy, but we feel that the red flags are too much to provide an opportunity for exceptions.
4xpremium Review – conclusion
Given that this broker has already attracted a warning from the FCA, the best thing to do would be to avoid them at all cost.
Whereas their selection of currency pairs and trading conditions may seem good, it is not advisable that you accept any offer from this broker.