4EX7 is a forex broker that is located in the Marshall Islands. In the review below, we take an in-depth look at the features 4EX7.com allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about 4EX7 forex online trading.
Table of Contents
4EX7 Trading Platform
4EX7 claims to be a world-renowned financial services provider offering a wide-range of investment products, including CFDs (contract for differences), FX, and Cryptocurrencies. The site also claims that their primary goal is to unleash trader potential through cutting-edge technological innovation and financial proficiency.
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
Although the website looks professional and well-designed, It feels empty as the necessary and the required information isn’t provided. This broker claims that it uses the MT4 platform to offer assets such as Forex (with leverages up to 1:100) CFDs, Indices, Stocks, and Precious metals.
This broker might have claimed that it uses the MT4 trading platform but we were only provided with the trading software used mostly by scammer brokers.
4EX7 Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has three account types
4EX7 Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The legal documents mention the following withdrawal methods: Credit/Debit cards, Bank Transfers, and Skrill. However, the withdrawal section only allows us to write down the amount requested and from which account to be withdrawn. These are some drastic inconsistencies:
While the legal documents claim that this broker supports Credit/Debit Cards, Bank Transfers and Skrill. It then contradicts itself by saying in its payment section that it permits Credit and Debit cards, and Ask4Bit.
This contradictions do not sit well with us, another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.
Is 4EX7 Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
This broker is located in the Marshall Islands. Marshall Islands is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body.
Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others.
Trade with TOP RATED BROKERS Instead
Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with 4EX7 as they don’t give any information concerning if they are a regulated broker.
4EX7 is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.