4xincome review 2021: Keep your funds away from scam

4xincome is another scam broker that you should try to avoid. This is a reasonably new CFD and Forex broker. Although their offer looks impressive on paper, some of the details have not been perfected according to the standards of mature brokers. Our honest 4xincome review will point out several important aspects that reflect their fraudulent face.

General information

First, let’s start with the website. Unfortunately, we could not find the official website of the broker. They seem to have encountered some problems, or they have suspended operations for some time. Even without the website, they will still try to lure inexperienced novice traders into scams.

The lack of an official website already means a big red flag because it is almost impossible to find information about them from other sources.

However, we still conducted research, explored customer opinions, and collected them in our review.

Perhaps the most significant advantage of this broker is its low transaction costs. We must mention that the demo platform has a slight deviation, and the spreads in the “tool list” and “one-click trading” sections are different.

4xincome’s unsuccessful trading Platform

The company also claims to support the most advanced trading platform-MetaTrader 4. MT4 has an excellent chart package, uses relatively few hardware resources, and the most impressive thing is to provide access to the MQL market.

This is an online store where developers sell their custom technical indicators and automated trading systems.

However, when you open 4xincome’s MT4 trading platform, you will be introduced to a completely different trading environment.

Although the company claims to provide a web-based version of the same platform, the actual situation is different. Compared with MT4, their web-based trading platform is minimal.

For novice traders, this may not be noticeable, but every experienced trader will notice the difference. Well done, 4xincome!

In addition, compared with genuine transactions, the transaction price of EUR/USD in the “one-click” part is very different.

In addition, the list of tools only includes some major currency pairs, which is very contradictory to the introduction of the website.

Lack of trading assets

There are more than 150 kinds of trading tools, and the income is four times. This includes 55 currency pairs and CFDs on various indices, stocks and commodities. Although other foreign exchange brokers can provide thousands of digital assets for trading, the results of 4xincome are not attractive at all. In addition, they do not support cryptocurrency transactions, which is a significant loss for cryptocurrency enthusiasts.

The minimum deposit requirement of $100 allows most traders to use the broker.

Regulatory issues

4xincome claims to be associated with another “fully licensed” Dubai broker. The second company is not related to the UAE authorities, and 4xincome is located in Saint Vincent and the Grenadines. In essence, brokers seem to be unregulated, which is a massive concern for us.

Few payment methods

4xincome only accepts bank transfers and credit card deposits. This may be sufficient to meet the needs of most customers, but now brokers often support e-wallets such as Neteller and Skrill (not to mention more alternative methods such as Bitcoin).

Compared with other problems, this seems to be a small problem, but it is still annoying. The jump from $500 to $25,000 (from the second account type to the third account type) is simply too much. They can add multiple levels between the two.

Final thoughts about 4xincome

4xincome is a foreign exchange and CFD broker with many problems. First, as we mentioned above, we are not sure about the company’s regulatory status. Although this uncertainty is enough to prevent us from recommending the broker, what we saw after registering an account was very different from what was the company’s offers.

Most importantly, when comparing brokers-the broker does not guarantee the safety of your funds.

Additionally, we could not find accurate customer support information. What if you have issues with the registration or withdrawing money? How can you get in touch with the company?

Lacking customer service information is a massive disadvantage of any broker, and for the one that already raises significant doubts, it is a sign of a scammer.

Thus, we recommend you stay away from 4xincome, don’t let them trick you into the scam.