4x Trade Review: Traders’ Experiences and Testimonials Uncovered

4x Trade broker and its owner, Evergo Ltd, are offering clients more than trading. They offer a trading academy, meaning clients can go through an educational process before investing. Combining this information with a well-designed website made us think 4x Trade is an amazing place for any investor.

Do not hold your breath just yet. Read our 4x-Trade.com review and you’ll understand how a first impression can be wrong.

4x Trade Regulations and Security

As mentioned, 4x trade is owned by Evergo Ltd from the Marshall Islands. Since this offshore country has a weak regulator that doesn’t require any compensation funds, rather lets brokers do anything, you can be assured that trading with 4x Trade won’t be pleasant.

To conclude the story, 4x Trade is not regulated and doesn’t keep its funds in segregated accounts since it doesn’t follow ESME, MiFID, or any other regulative.

When looking for a brokerage, find the one regulated by Tier1 authority bodies like FCA and ASIC.

4x Trade Warnings From Financial Regulators

 Like any fraudster, 4x Trade forex brokerage was reported one too many times. The Italian regulatory body, CONSOB, issued an official warning against 4x Trade and its owner, stating that they ceased the violation of Legislative Decree 58 related to finance.

Everyone frauded by the broker should report it immediately. If you are one of the victims of the 4x Trade scam, let us know.

Fund Withdrawal Issues

Withdrawing funds from illicit scams is never an easy task. These brokerages are opening with the utmost goal of extracting as much money as possible. Once they cannot survive anymore, they simply close the brand or change the owner. And that’s how they avoid payouts for years.

Unfortunately, 4x Trade is based in the Marshall Islands, and GLOFSA is not known as a complex regulator. There’s no compensation fund, so clients need to fight for their money any way they can, besides submitting a request to a regulator.

Traders Opinion

According to traders, the broker makes you purchase Bitcoin – as it says on the main page. The thing is, you cannot actually trade BTC or any other crypto with this company. What you see on the website is a preparation for you, as a client, to buy BTC and transfer it to the company’s account so that you can’t ask for a refund.

Of course, you can already see why clients are complaining the most and about what – their withdrawals.

How Does Online Trading Scam Work?

Depending on the brokerage you choose, methods can vary slightly. In the case of 4x Trade, you’ll be asked for a minimum of 250 EUR purchased through Bitcoins. The broker will then try to persuade you to buy more BTC, showing you its exponential growth. However, the one taking your crypto is the broker, while your trades are on shares, commodities, and currency pairs.

Even worse, once you ask for a payout, your account will be suspended. You will never see that Bitcoin, and you can only hope you’ll find an alternative way for a refund.

Beware of the 4x Trade scam and other brokers such as InvestCore, Daxiron, and FxGlory!

Were you scammed by 4x Trade?

If you were scammed by 4x Trade or a similar bogus scheme, let us know. We’ll help you find a way to recover your funds. Yes, Bitcoin transactions are hard to follow and reverse, but it’s not impossible. And our experts have helped many in your situation.

Contact us via online chat to let us know what happened, and let’s get your money back now!