ForexScam

4xCube

4xCube is An Unreliable Offshore Broker

4xCube is an offshore CFD forex broker that entered the market in 2018. They have three account types, multiple trading platforms and a generous leverage. Their website looks promising with details on nearly everything you’d require to build trust.

However, 4xCube aren’t that reliable as they seem on their website. 

4xCube is Unreliable: Why Your Funds are Unsafe with them

Poor Regulation

4xCube is licensed by the Financial Supervisory Commission of the Cook Islands. Cook Islands is actually an island country located in the South Pacific area which has political links to New Zealand. Cook Islands is an offshore area and it doesn’t regulate CFD brokers, while 4xCube is one. Any forex broker can go there and register, like any usual company can, but such a license is not comparable to a license from any reputed agency such as CySEC (Cyprus Securities and Exchange Commission) or FCA of the UK. 

Reputed authorities have strict rules and regulations which ensure that a broker works in the interest of its customers, not against them. These rules and regulations prevent scams, and that’s why they are reliable. 

Lack of proper regulation is always dangerous, especially when it comes to forex. I recommend that you only deal with brokers that hold regulation from reputed agencies such as CySEC or FCA. Usually, lack of proper regulation is a sign of a scammer and that’s why you should stay away from such brokers. 

Doesn’t Serve US Clients

4xCube mentions on its website that it doesn’t serve clients based in the US. The US has one of the most reputed regulatory authorities in the forex industry called the National Futures Association. It provides licenses to eligible forex brokers, enforeces adherence to its rules and fights fraudulent activities. 

4xCube gives a vague excuse for not serving US-based clients
4xCube gives a vague excuse for not serving US-based clients

The US also has one of the most thriving markets too, so it’s highly suspicious that 4xCube doesn’t serve customers here. They give vague excuses when someone asks why they don’t serve customers here, but let me tell you the exact reason why they don’t serve anyone from the United States. 

To serve forex trades based in the US, a forex broker must have a license from the NFA, which has many strict regulations. Obviously, 4xCube can’t adhere to those regulations because they are running a shady operation. Otherwise, why would a broker deliberately avoid one of the biggest and the most thriving markets in the world?

Warning from ASIC

The Australian Securities and Investments Commission had issued a notification to 4xCube because of their fraudulent activities in 2019. The ASIC is the premier organization that handles forex brokers in Australia. You can see that in the screenshot below:

ASIC has issued a warning against 4xCube
ASIC has issued a warning against them

It’s a page on www.moneysmart.gov.au, which is a part of ASIC’s online work. ASIC has clearly advised people that “this company could be involved in a scam”. 

Apparently, 4xCube was sending unsolicited emails and messages to citizens of Australia to trade with them. You should know that 4xCube doesn’t have a license to operate in Australia. 

So, the ASIC had sent a notification to this company. It is another proof that 4xCube is nothing more than a fraudulent broker. 

Transaction Fees of 4xCube

4xCube provides its customers with multiple payment options including Vload, Skrill, Bank Wire Transfers, PaySec, sofortBanking, and Neteller. The provision of multiple payment options makes them appear genuine, however, their conditions give another picture.

They have mentioned that they charge deposit and withdrawal fees on their website as you can see below:

4xCube charges different fees for transactions according to methods
They charge different fees for transactions according to methods

Because they lack any serious regulation, it raises suspicion on their fees and charges. Respectable authorities ensure that a broker doesn’t have any shady provisions that could result in traders losing their money. 4xCube seems very dangerous in this regard. 

I recommend you that you shouldn’t trust offshore, poorly regulated brokers like 4xCube in this regard. If you open an account with a broker, make sure that you first deposit only the minimum amount they require. Then, you should wait for a day to see if they don’t deduct any hidden fees from it. 

Numerous Victims of 4xCube

4xCube tries to appear scot free everywhere, but it’s not. There are numerous complaints against 4xCube and its shady operations everywhere on the internet. People complain about losing all of their deposits due to 4xCube freezing their accounts for no reason.

My 4xCube review would be incomplete if I don’t mention how shady brokers scam people. First, they would push you to sign up on their website. When you get there, they redirect you to the sign up page of a terribly shady broker where you provide all of your information.

Now, after you’ve given them your information, you’d start getting calls from other shady brokers. 

Sometimes, the broker doesn’t redirect you to someplace else but instead, keeps urging you to invest more. They ignore the market’s conditions and keep requesting you to invest further and make it seem like the more you invest, the more you’d get. 

4xCube Review: Conclusion

4xCube has many qualities but because they lack credible regulation, I can’t recommend their services. You can find many forex brokers who have proper regulation along with such qualities. Working with a poorly regulated broker exposes you to unimaginable risk. 

So, in conclusion to my 4xCube review, I suggest you stay away from them. 

3 Total Score
A Shady Offshore Broker

Avoid working with 4xCube because they are a poorly regulated and unreliable broker. They have all the bells and whistles but lack reliability. The ASIC's warning against them is another proof of their shady activities.

3.3Expert Score
Trust
2
Customer Service
3
Pricing
4
Trading Experience
4
2.7User's score
Trust
2.5
Customer Service
2.3
Pricing
2.8
Trading Experience
3.5
PROS
  • Multiple Trading Platforms
  • Good Trading Conditions
CONS
  • Poor Regulation
  • Warning from the ASIC
  • Doesn't Serve Clients in the US
  • Notorious for Scamming Clients
Add your review  |  Read reviews and comments

Tags:

7 Comments
Show all Most Helpful Highest Rating Lowest Rating Add your review
  1. 1
    Trust
    10
    Customer Service
    10
    Pricing
    20
    Trading Experience
    40

    They charged my account $200 and now I’m left with only $34.6 in my trading account.
    I asked them about this charge and they don’t respond.
    4xcube is a scam. They will steal your money. They don’t notify you about their sudden charges. I only found out about my reduced account balance when I tried to withdraw them.
    They are selfish crooks.

    Helpful(5) Unhelpful(3)You have already voted this
  2. 1.25
    Trust
    20
    Customer Service
    20
    Pricing
    20
    Trading Experience
    40

    I had opened a trading account with 4xCube last year in September. I had deposited 500 EUR in my account and had started trading with it. Things were going well in the start as I would mostly use the indicators my trading platform provided. I would lose some and gain some because trading forex requires you to be patient and alert.
    Seeing how great my account was performing, I deposited another 250 EUR in my account and at that time, my account’s balance was around 923 EUR. I was quite happy with my progress then one day, they froze my account altogether!
    I contacted their customer support to find out why my account was frozen but they wouldn’t reply. I have sent 4-6 emails to their customer support id but I don’t get any replies there. I also tried to contact them through their social media accounts, but it’s the same.
    They are thieves who steal your money! I regret depositing all that money in my 4xCube account. I wish I would’ve found this 4xCube review before so I wouldn’t have made this mistake.

    - CONS: Scam Non-existent customer support
    Helpful(3) Unhelpful(2)You have already voted this
  3. 2.5
    Trust
    50
    Customer Service
    50
    Pricing
    50
    Trading Experience
    50

    Fake Review, Fake Reviewers

    Helpful(0) Unhelpful(1)You have already voted this
    • What do you allege is fake in this review? Do you have any specific point, or are just butthurt that someone bothered to tell the truth to the public?

  4. 1.35
    Trust
    20
    Customer Service
    20
    Pricing
    40
    Trading Experience
    30

    4xCube is a SCAM!!! They stole €740 from me!
    My account had €740 last month and they FROZE my account! They didn’t give me a warning or alert me before freezing my account. I still don’t know why they have frozen my account. I have complained about this issue with their customer support multiple times. I sent them emails and called them on their phone but they don’t respond. I got only one response on their email which stated that they are working on my issue. However, it’s been over 5 weeks and I haven’t heard a single thing!
    Seeing the complaints people are sharing here, I’m afraid I might never get my money back. Where was your 4xCube review when I was looking for one?? I wouldn’t have lost my money if I knew 4xCube is a scam back then. Now, I’m quite sure that I would never get my money from those thieves.

    - CONS: No customer support freeze account without warning and for no reason
    Helpful(2) Unhelpful(0)You have already voted this
  5. 1.5
    Trust
    30
    Customer Service
    30
    Pricing
    30
    Trading Experience
    30

    They locked me out of my account , I have reached out to them countless times without any response. When I total my out-of-pocket expenses, bonuses given, and real profits made (which I never saw), my losses sum to about $460,000. For each responsible company, I had Excel spreadsheets that detail every transaction I made. After my losses reached the level I couldn’t continue, I set out to finance recovery efforts by so-called recovery experts. I financed so many I do not have an exact count, but there were at least 4 or 6. All failed to recover my money because all the recovery experts were scammers.

    - CONS: None
    Helpful(2) Unhelpful(1)You have already voted this
  6. 0.75
    Trust
    20
    Customer Service
    10
    Pricing
    10
    Trading Experience
    20

    4xcube has frozen my account that had $4300 in it. I was using that account since May 2019 and hadn’t faced any problems before except a few. The customer service of that place is HORRIBLE. I keep sending them emails requesting them to reinstate my account because they don’t even specify what mistake I made there in the first place. I’m sure they are a scam now.
    4xcube had blocked my account in June 2020 and it’s August now! It’s been two months since they revoked my account’s access and stole all my money. Don’t trade with 4xcube, they will steal from you.

    Helpful(2) Unhelpful(2)You have already voted this

Leave a reply

Your total score

Gripeo
Register New Account
Reset Password
Compare items
  • Total (0)
Compare
0