Is 4X.FM reliable?

https://4x.fm/    

4X.FM is an unregulated broker that we advise against trading with despite the seemingly attractive deals it offers.

4X.FM claims to be owned and operated by Cixx LLC, a company registered with the Mwali International Services Authority (MISA) under registration number T2022117. While it is true that matching records can be found in the MISA register, it is critical to note that this is a registrar of companies without the authority to issue forex licenses or regulate the industry. Therefore, any offering of investment services or products by this broker remains unsupervised. What's more, the Financial Conduct Authority (FCA) has added 4X.FM to its warning list for operating in the absence of proper authorization, further proving that the broker falls outside the regulatory framework. You can access the full warning here.

Regarding your question, 4X.FM isn't reliable due to its status as an unlicensed broker. It carries significant risks including financial losses and identity theft, as there are no rules in place to protect investors. Therefore, to avoid such risks, investors are suggested to stay away from unlicensed brokers like 4X.FM and choose a fully regulated one.