4xp forex regulations
If you are having trouble while withdrawing your money from the brokerage firm, chances are that you are dealing with a broker who is regulated under and offshore regulation. Brokers regulated under such offshore regulations are not preferable as it increases the chance of the broker being a scam broker. Various clients of 4XP are experiencing several issues while withdrawing their money. They claim that the 4XP broker is delaying their requests and not accepting the withdrawal requests by giving a series of fake excuses.
Now, you must be thinking, what will we do if they are not giving the money back? This is where we come to help. Read on to find out more about Fund Recovery. Signs that show 4XP is a scam broker: The broker puts immense pressure on you to transfer the funds immediately. The offers given by the broker are too good to be true.
The brokers might build pressure and make you put money in an investment that is high risk. If the broker asks for the checks to address them personally and not to the firm. Scammed by 4XP? Every day, thousands of people fall into the traps laid by scam brokers.
These scam brokers go to any extent to trick innocent traders into putting their money with the scam brokerage firms. If you have been a victim of the 4XP scam broker, seek help right away. One must know that you are not the only one scammed by an 4XP scam broker and there still is a possibility of full recovery of your money. What should you do? Nothing at all! Just file a complaint and claim a chargeback. Not only that, in October 1, , CySEC, the Cyprus regulator, issued a warning saying that investors should stay away from 4XP and this company was not licensed to do business in the country.
Shortly thereafter, 4XP sent a letter to its customers which reads: The Company has received an immediate and surprising cease order, issued by the British Virgins Islands FSC, ordering the Company to cease its trading services operation. The Company has applied to the FSC against the order, and is considering other legal venues to renew its operations. As mentioned above, The Company is making efforts and taking actions as necessary in order to have the FSC order cancelled, and negotiates with its banks to have its Accounts reopened.
According to professional legal advice provided to the Company, such actions shall take a few months at least. In the meantime, the Company must honor the order. Due to the above, the Company is currently unable to process deposit and withdrawal requests, until further notice. The Company hopes such notice shall not take long.
As you well know, the Company has always been proud of its honesty and integrity. Despite this letter to try to reassure their customers, 4XP ceased operations and many customers were pressed to recover their funds.
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