4xpremium Broker Scam
Be on the Lookout; 4xpremium is an offshore broker; Your investment is at risk.
This article will be targeting individuals researching 4xpremium Broker for reviews or information on how to retrieve investments from such scam forex brokers.
Is 4xpremium a legit broker?
4xPremium is an unregulated offshore broker that offers services such as forex, CFD and or binary options trading. The broker is registered in a fiscal haven that lacks the intervention of any investment regulatory process. This means that taking legal action against this forex broker is next to impossible. Read this review to recover your investment from 4xPremium.
4xPremium broker relies on a number of tricks to reach their prospects and make them believe that the money they are investing with them is in safe hands and will generate humongous returns. Such tricks include the use of the state of the art websites and apps, with all sorts of attractive trading conditions followed by well-spoken staff and very efficient customer support after signup. This is all smoke and mirrors.
As far as this kind of scheme goes, the 4xPremium staff could very well be operating as part of a network of anonymous call centers in undisclosed locations. They could outright lie to you about their location and even their names. In typical investment scams, the staff uses stage names when communicating with the clients to add a layer of anonymity. Using excellent sales skills paired with manipulative psychology techniques, the staff involved in these sophisticated scams will prompt the victims to invest always more money, often beyond what they had planned in an attempt to avoid losing it all. This type of scam is now widespread and used to defraud unsuspecting victims billions of dollars annually.
Did you invest with an offshore broker?
A look into 4xpremium Reviews on various internet forums will reveal that 4xpremium clients have had issues withdrawing their investments and/ or profits. Though the reviews regarding 4xpremium have been drawn from various sources, it reveals a similar challenge. 4xpremium entices clients into this scam through interesting profits posted to their clients’ trading accounts.
The company even goes to the extent of transferring some of the money back to the clients. Once the clients’ trust is gained, they are prompted to invest more money for much better returns. Once the client has transferred the money, the problems begin.
4xpremium broker will then manipulate the trading platform to create scenarios jeopardizing the clients’ investments. The clients are then prompted by 4xpremium Financial Analysts to transfer more money into their accounts to reduce the losses they are facing, often to avoid losing their investments altogether. Immediately after they do this, withdrawing the funds becomes an issue.
How To Get Your Money Back From 4xpremium Broker?
There is no easy way to get your money back once you have invested it with 4xpremium. 4xpremium is structured in such a way that it makes it hard to pinpoint the scam to specific individuals and prove any wrongdoing. 4xpremium constitutes a brokers brand that is managed by a chain of shell companies registered in fiscal havens. Building a legal case against the broker would require one to utilize the services of a private investigator to track the money trails and trace it to individuals who could testify of the fraudulent practices of the broker. This does not even factor in the huge legal costs that would be required to institute a civil action in such offshore locations. Such prohibitive costs make it hard for customers of 4xpremium to take any action.
However, hope is not lost. There are other means through which investors can recover their funds from 4xpremium, without going the civil action route. A number of 4xpremium victims have managed to recover their funds by maneuvering the banking legal system. While this method might be unknown to many people, it is possible for an individual to get his or her bank to reverse credit card charges and bank wire transactions in his or her favor. While this is possible, the route has a lot of rules and regulations around such a procedure and it would be wise to hire an expert if you want to recover your money from a 4xpremium broker.
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More reasons not to trust 4xPremium
Unregulated, possibly linked to a group of shady brokers 4xpremium would be owned and operated by Index Limited, but the 4xpremium website does not share much information about the company with the public, as is often the case with unregulated brokers.
The About Us section on their website contains only vague thoughts about the mission, the broker’s goals, as well as some promises regarding safety, how ECN works, etc. In fact, we looked at a few brokers whose websites are almost identical to 4xpremium’s. Their names are also similar: 4xbanks, Fxbankers, Fxbrands and others who seem linked to these seem to be linked to the scam broker Up4x and the famous 2 point public company.
Scammers often change their names, so it’s best to avoid 4xpremium and all of the brands mentioned above. FCA warns this broker Another major red flag regarding 4xpremium is the fact that the Financial Conduct Authority (FCA) of the United Kingdom has issued a warning against the broker. According to the regulator, it is a clone company which falsely claims to operate under a legitimate company, approved by the regulator (Global Market Index Limited).