True4X Review (2023)

Is True4x a scam or legit broker?

We advise our readers, do not use True4X as it is an offshore entity. True4X is owned by True Forex Limited., which is an offshore company registered in St. Vincent and the Grenadine.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Brokerz, TraderUR and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

True4X is a trading name used by the True Forex Limited, the company located in Saint Vincent and the Grenadines. Yet, the broker is also registered in the UK as True4x Limited but classified as a company that performs combined administrative service activities.

The True4X mentions its non-compromised safety of business operations and the importance of Forex broker regulation as an aspect of reliability and trust. It is, however, not a fact of True4X, since the broker only holds a registration in Saint Vincent and the Grenadines jurisdiction that considered an offshore zone and requires a minimum for its incorporation. Therefore, it became an offshore zone for shady forex brokers such as Pro TradeFX, Binomo and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

Comparing to FCA (UK) or ASIC (Australia)set of rules, the SVG does not adhere to the strictest rules to financial service companies compliance of operational standards and is not internationally strong in controlling it. The leading authorities regularly check-in whether the broker follows rules and standards that define also the cooperation between the client and broker, apart from the coverage in case of insolvency. For that reason, it is highly recommended to choose among the ASIC Regulated Brokers or other ones due to their secure trading environment.

Even though that True4x claim is the successful history of great achievement, technological solutions and long-term relations with their traders through the offering to trade Forex and CFDs, the lack of regulation puts a serious question to us. In conclusion, instead it is better to choose among the reputable broker rather than engaging with an offshore company that just sound good, but in fact, you never know what can appear at the result.

Conclusion

We advise all investors and traders to avoid True4X and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as FP Markets and TMGM.

You can also share your trading experience with True4X by commenting on this review.