What is 4xCube?
Founded in 2018, 4xCube is a forex brokerage firm that claims to have loyal clients from all over the world. With seemingly attractive trading offers, the company purports to be much more than what it actually is. With scam brokers around every corner waiting to creep up on you, read our detailed review to know whether 4xCube is a scam or a legitimate broker.
What are the trading accounts offered by 4xCube?
4xCube offers three different trading accounts to their customers. The company claims that these accounts are curated while keeping in mind the varying needs of customers from around the world. The three different accounts are named Standard Account, VIP Account, and Pro Account. These accounts are equipped with slightly varying features and different deposits which we will be discussing in the next segment.
What are the minimum deposits demanded by 4xCube?
The minimum deposits differ from one trading account to another. The average minimum deposits demanded by the legitimate brokers in the industry lie between the range of 5 to 10 dollars. However, in our case, 4xCube asks for a minimum deposit of $100 for the Standard Account. The deposit increases to $1000 for the Pro account and further increases to $25000 for the VIP. This definitely increases the suspicion of 4xCube being a scam broker.
What are the leverages and spreads offered by 4xCube?
The leverage offered by 4xCube, yet again, differs from the trade accounts that are offered by the company. As leverage plays a dangerous role in the customer enduring losses, many countries have capped the leverage at 1:30 and 1:50. However, 4xCube has broken this record and offers the lowest leverage up to 1:200 for the standard account. For the VIP account and the Pro account, the leverage offers id 1:400 which is much more than what is offered by the legitimate companies.
The spreads offered by 4xCube are also different from one trading account to another. The spreads offered by the company range from 0.2 pips to 0.7 pips.
Is 4xCube regulated?
4xCube is owned and operated by a parent company by the same name, 4xCube Ltd. The company has its headquarters in the Cook Islands. Furthermore, 4xCube states on their website that the brokerage firm is regulated by the Financial Supervisory Committee or the FSC of the Cook Islands. Despite this claim being true, we request our readers not to trade with 4xCube. This is because the FSC of Cook Islands is not a top-tier regulator and therefore the license issued by the FSC cannot be compared to the license issued by top-tier regulators such as the FCA or the ASIC. Therefore, your funds are not exactly safe with 4xCube.
What’s the Final Take?
To sum up, all that has been said above, we can safely conclude that 4xCube is a potential scam. We request our readers not to trade with this company and maintain caution. If you have been scammed by 4xCube or any other scam broker, there is no need to be embarrassed. You have all the right to claim your money back. Report it to us and we will provide you with the best solutions to get your money back!
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