iFourX
Basic Information
Pros and Cons
Pros
- Offers trading on forex, commodities, and indices
- High leverage up to 1:500
- Minimum deposit requirement of $100
- Available on MT5 trading platform
- Demo account available
Cons
- No regulatory oversight
- Negative market feedback
- Withdrawal issues reported by users
- Poor customer service responsiveness
- Lack of fund protection measures
Is iFourX Safe and Legit?
iFourX Capital Limited is registered in Saint Lucia and has been operational for approximately 1-2 years. The broker offers trading in forex, commodities, and indices with leverage up to 1:500 and spreads starting from 3.0 pips on the MT5 platform, with a minimum deposit requirement of $100.
Currently, iFourX operates without any valid regulatory oversight, which raises significant concerns regarding its safety and legality in the market. As such, potential users should exercise caution, as trading with unregulated brokers can involve substantial risks.
Market feedback on iFourX reflects a generally negative reputation. Users frequently report difficulties with withdrawals, poor customer service responsiveness, and a lack of transparency. Complaints about blocked withdrawals and unresponsive support channels are prevalent, indicating a concerning trend for prospective traders considering this broker.
Is iFourX a Regulated Broker?
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Client funds at iFourX are not held in independently regulated bank accounts and are not segregated from the broker’s own assets. As iFourX operates without any regulatory oversight, there are no investor compensation funds or insurance schemes that would typically provide coverage for traders’ funds, further emphasizing the risks involved in trading with this broker.
iFourX Leverage
iFourX offers maximum leverage of up to 1:500 across its trading products. However, since the broker lacks regulatory licenses, there are no local regulatory requirements to compare against, and thus, no client classification such as retail or professional is applicable, leaving traders without the protections that regulated environments typically afford.
iFourX Withdrawal Review
How to Contact iFourX?
Does iFourX Have Withdrawal Issues?
Feedback from users indicates that iFourX faces significant withdrawal issues, with many reports highlighting blocked withdrawals and unresponsive customer support. Complaints often stem from traders struggling to access their funds, with a noticeable number of users claiming to have received no assistance despite multiple attempts to contact support. This pattern suggests a concerning trend, as many traders express frustration over similar experiences, indicating large-scale issues. Additionally, the lack of regulatory oversight means that there are no penalties or warnings issued against the broker, further emphasizing the risks associated with trading here.
Frequently Asked Questions
A1: No, iFourX Capital Limited currently does not hold any valid regulatory licenses. It operates without regulatory oversight, raising concerns about its safety and legality for potential traders.
A2: Trading on iFourX involves significant risks due to the lack of regulatory oversight. There are no investor protections, such as fund segregation or compensation schemes, which are typically provided by regulated brokers.
A3: Yes, user feedback indicates that iFourX faces significant withdrawal issues, with many reports of blocked withdrawals and unresponsive customer support, leaving traders frustrated and unable to access their funds.
A4: iFourX can be contacted via email at support@ifourx.com or through their website’s contact form. However, users have reported poor responsiveness from customer support.
A5: Before trading with iFourX, potential users should consider the broker’s lack of regulation, negative market feedback regarding withdrawals and customer service, and the overall risks associated with trading on an unregulated platform.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.