Scam Alert: You May Not Want to Trade with 4Xhub the Ponzi Scam

Although forex is among the most lucrative investment markets, there is a high chance of getting baited by scam brokers. You may lose your hard-earned money to scam brokers like 4Xhub and have an awful experience, especially if you are new to the market. This article will give you a brief outlook on how brokers scam clients and what you can do to avoid falling into their prey. However, before we start unleashing the broker, let us briefly introduce you to the company. 

4Xhub - A Quick Overview 

4Xhub (https://www.4Xhub.com/) claims to be a forex and CFD broker based in Malaysia. The company offers trading services across various financial markets, including crypto, forex, indices, and commodities. Besides claiming to have regulations from a reputable regulatory authority, the broker boasts competitive spreads and generous leverage. The minimum deposit to sign up with the broker is 100$, ranging up to 50,000$. While the company lacks to offer proprietary trading software, clients have to rely on third-party trading solutions such as MetaTrader 4. Other products and services include MAM accounts and VPS. Besides addressing clients' queries via live chat, the company provides customer facilitation via email and telephone. 

Is 4Xhub regulated?

Yes! 4xHub is a regulated concern, but was exposed as a Ponzi scheme in July last year.

The company is subject to a weak regulatory framework. You can't expect the same transparency level from an Lebuan FSA broker that an FCA or ASIC-regulated broker might have. 

Clientele Feedback  

4Xhub holds a poor reputation among clients. The company is accused of false practices amid trade execution. According to clients, the broker doesn't release funds for no reason. Some customers also reported that the company has a poor customer support staff that even can’t understand what is being asked. 

What Should I Do If I've Already Signup With 4Xhub?

You're on the safe side if you've only opened an account with the broker and have yet to fund your account. However, if you've deposited funds with the company, we suggest you withdraw them as soon as possible. Despite being regulated, the company doesn't hold a good reputation amid its withdrawal policy.

Bottom Line

Dealing with a suspicious broker like 4Xhub can be risky and lead to financial loss or other negative consequences. To stay protected, you should research the broker thoroughly, verify their licenses, be skeptical of promises of high returns, use a reputable payment method, and seek professional advice. Don't disclose sensitive information, and be cautious of unsolicited communication. Your best protection against a suspicious broker is to be cautious and vigilant.