4FX Royal Review Is 4fxroyal.com A Legit Broker

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4FX Royal Review: Is 4fxroyal.com A Legit Broker?

4fxroyal.com Review: this is the website of a Forex brokerage that mentions that it is located in a number of regions. One of these locations is in the UK while the other is Switzerland. Is 4FX Royal a legit broker or scam? Before investing funds with this brokerage, read the details revealed below first.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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4FX Royal discloses that it operates in Singapore, the United Kingdom, and Switzerland. Trading in the UK is regulated by the popular Financial Conduct Authority (FCA) while in Switzerland it is under the watch of the Financial Market Supervisory Authority. When we checked online, both commissions do not regulate this forex broker.

This means that we are dealing with a broker under no regulatory authority. Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of 4FX Royal

With this brokerage, traders get access to many trading products and powerful trading tools. A wealth management section allows traders to make profits while keeping losses at a minimum. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Further, it runs many investment advisory programs to help clients know what type of investment will bring them the most gain.

4FX Royal Trading Platform

4FX Royal offers traders access to the MT4 trading platform, which is a good thing. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are stocks, options, and more than 11,000 mutual funds. There is no mention of currency pairs and CFDs. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

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The maximum leverage offered to clients is 1:500 and while this may seem generous, it is not advisable. High leverages can lead to huge loss of funds as well. Spreads are said to start from 1.5 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on 4FX Royal

The means that traders are to use to make deposits and withdrawals are VISA, MasterCard, Neteller, Skrill, Perfect Money, Web Money, and Bank Wire. It is encouraging to see some e-wallet options mentioned.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required is $250 and this is within the obtainable average of $100 to $250 that is common among legit brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, the broker insists that clients agree not to use their “chargeback” right. This will make it impossible for their transaction outfits to assist them to recover lost funds.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is 4FX Royal Licensed?

No. 4FX Royal is not a properly licensed and registered broker. The brokerage is not authorized to trade by the Financial Conduct Authority (FCA).

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Blacklisted by FINMA

Lacking a proper license is bad enough but this is not our only bone of contention with 4FX Royal. It turns out that it is also a company blacklisted by the Financial Market Supervisory Authority in Switzerland. The warning served by this commission also mentions that the broker unlawfully targets citizens.

Support

To contact the broker or an agent of its customer service, interested clients should call +44 15 12 681 786 or send an email to [email protected]

Conclusion

4FX Royal is an unlicensed brokerage and it is blacklisted by a top European authority making us rate it very low. Despite offering some tempting conditions, we cannot trust it and thus cannot recommend it. If you have anything to say about this broker, do so in the comment section.

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4FX Royal Review – is 4fxroyal.com scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Micro $250 1:500 From 1 pip
Standard $1 000 1:500 From 1 pip
Premium $25 000 1:500 From 0.6 pips
VIP $100 000 1:500 From 0.2 pips

4FX Royal presents itself as a MT4 broker, operating out of several major forex hubs. However, our research revealed that they are not licensed in any of them, and seem related to other shady brokerage brands.

Nonetheless, there are still a few supposed benefits of using 4FX Royal, and we will start off with them. So, if you are going to skim through this review, be sure to check out at least the first point of the Disadvantages section below.

4FX Royal Advantages

MT4 platform available, high leverage levels

For all its faults, 4FX Royal at least offers trading on MT4 and high leverage ratios, reaching up to 1:500. Such leverage levels would be more than enough even for the most aggressive traders out there. That being said, we should warn those of you who are not well-acquainted with the principles of margin trading that using leverage ratios that high could quickly and easily result in a serious loss.

As always, the availability of the MetaTrader4 (MT4) is also a good news. This is one of the best trading solutions on the market. It features numerous market indicators, advanced charting tools, user friendly interface and even customizable trading robots, allowing for algorithmic trading sessions. All that makes MT4 a platform of choice for professional and beginner traders alike, so here you may check our list of brokers supporting the MT4 as well:

As tested with a demo account with 4FX Royal the benchmark EUR/USD spread floated around 1.5 pips and this is in the upper range of what traders usually consider acceptable with a standard account.

4FX Royal’s demo desktop MT4. Click to view larger.

4FX Royal Disadvantages

No company name, no license

4FX Royal has declared offices in Switzerland, UK and Singapore, but mentions nothing about license, nor financial regulation on its website. What is worse, we couldn’t find any name of the company operating the brand and owning the website.

This means that 4FX Royal’s services and website are basically anonymous, and whichever the company behind the brand, it is not regulated. Doing business with unregulated broker is risky, and investing with an anonymous one basically means throwing your money in the trash.

Blacklisted by FINMA

However , 4FX Royal obviously illegally operates on heavily regulated markets such as Switzerland, as we found out that Swiss financial regulator FINMA has added the broker to its warning list. This, of course, is another major red flag.

Possibly involved in a serial scam scheme

As you can see from the above warning, the broker obviously uses two brand/domain names. We have also reviewed another brokerage brand with a similar name – 4XRoyal – and we believe that all of them are run by one and the same people. All these brands offer one and the same trading conditions, account types, Terms and Conditions, and MT4 provided by Lexbond Systems LTD., among other things they’ve got in common.

Zurich Corporation and JBGlobal Trading are another two brands associated with the abovementioned company. So, we suspect that these brokers might be involved in a serial scam scheme.

No charge back allowed

Furthermore, 4FX Royal’s Terms and conditions explicitly state that clients agree they won’t attempt any chargebacks, which is simply ridiculous.

Click on the image to view full size.

A ‘charge back’ is a standard procedure with all card companies like VISA and MasterCard, with which you may recover your money – the deposit you have made with the broker – in case you fall a victim to a scam.

Few payment methods

As it turned out the only payment methods available at 4FX Royal are bank wire and an e-wallet we have not heard of before – NasPay. There is no option to pay with credit cards or popular e-wallets like Neteller and Skrill and that is worth mentioning, because of the new anti-scam policy Skrill recently adopted.

Conclusion

4FX Royal is another dodgy unregulated broker that has gotten under the radar of the Swiss FINMA. The broker’s website doesn’t even feature a company name, so it is clearly not legitimate and not regulated. Besides, we suspect that this broker might be a part of a serial scam scheme along with other brands related to Lexbond Systems LTD.

As always, we recommend that you only deal with well-established and licensed forex brokers. That being said, one of the most trustworthy authorities in Europe are the UK’s Financial Conduct Authority and the Cyprus Securities and Exchange Commission (CySEC).

And finally, here are the highlights of the present review of 4FX Royal:

Pros Cons
Generous leverage, seemingly good spreads No company name, no license
MT4 available, good selection of assets Blacklisted by the Swiss FINMA
Related to other shady brokers
Chargeback not allowed?!
Few payment methods
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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