4xbrands Review (2023)

Beware 4xbrands is a Non-Regulated broker. It is NOT SAFE to trade.

• Company name: 4Xbrands Ltd
• Registration/license: St. Vincent and the Grenadines
• Registration/license requirement: USD 2,000

4xbrands is a Forex and CFDs broker. The company is owned and operated by 4Xbrands Ltd., registered in St. Vincent and the Grenadines, a popular offshore zone for forex firms. The broker doesn’t provide much information about its trading conditions as well as about the location and contact details. The only way of contacting the company is via “call request”. The terms and conditions on the website mention Cyprus as the jurisdiction responsible for the brokerage, although the company doesn’t seem to be regulated by any of the authorities. In addition, Italy’s regulator CONSOB has issued a warning against 4xbrands in February 2018:
“The National Commission for Companies and the Stock Exchange has ordered, in accordance with art. 7-octies, letter b) of the TUF, the company 4Xbrands Ltd (www.4xbrands.com), to cease the infringement of art. 18 of Italian Legislative Decree no. 58/98 put in place through their respective website, consisting of the provision of investment services and activities to the Italian public, including through the internet network (resolutions n. 20288, 20289 and 20290 of February 7, 2018).”

Conclusion

Trading with offshore brokers is extremely risky. Many of these brokers are scam companies seeking to cut financial and regulatory corners. Unlike with the FCA and other EU financial regulatory entities, offshore agencies pay very little attention to compliance-check, reporting and, they don’t report individual transactions, denying the withdrawals. Check the list of the FCA-regulated brokers.