4XLimited tries to be a reliable forex broker that will help you earn some decent money on the side by claiming its global regulation. However, BrokersView find it is just a fraud. When you start to trade with it, you will find any trading information it claimed has been left out, and the fraud itself is unbelievable.
Domain name verification of 4XLimited
On its page footer, 4XLimited says Copyright © 2019-2022, but its domain name (https://www.4xlimited.com/) verification result showed that it was first created on 14 March, 2022. Furthermore, the scammer served 50,000 total users and reached 75,000 daily transactions more than 50 countries. How can it reach that figure in a few months? Thus, there is the highest possible level of caution for investors when dealing with 4XLimited.
Regulatory status of 4XLimited
4XLimited claims to be authorized, regulated and registered by the key competent authorities and regulators, thus offering a regulated trading environment. More specifically, it shows it is licensed by the BVI FSC. But no results matched with 4XLimited on BVI FSC.
The FCA Added 4XLimited into Its Warnings
With its physical address in the UK and contact number from the UK, 4XLimited has to be regulated by the FCA as any other UK-based legal forex companies do. The thing is we only found a warning record matched with 4XLimited on the FCA.
According to the update, the company was added to the FCA's warning list on 29 June 2022. The watchdog warned the public that the entity is not authorised by it and is targeting people in the UK.
High leverage up to 1:5000
4XLimited offers leverage of up to 1:5000 and this high leverage is ridiculous. This figure is too high for any broker who is trying to convince you that it is a supervised broker( it claims to have BVI FSC license) as financial regulators have imposed leverage restrictions to protect investors from the higher losses trading with such big leverage can result in. 4XLimited has physic address in the UK, then it is not allowed to offer anything higher than 1:30 to retail clients.
Based on the above information, we can conclude that 4XLimited is a scam.
You should always make sure to trade with licensed companies. If you are aware of suspicious activities, or believe you have been defrauded, please contact us at email@example.com.