iFourX Scam Alert: Trapped Funds and Silent Support

There have been instances of unreliable performance and operations of iFourX, an online trading platform, offering services on MetaTrader 5.

Online trading, be it for commodities, forex, crypto, or anything, can be a risky journey, especially in the economy where there are certain brokers and trading platforms always ready to take advantage of the traders and their hard-earned funds, and iFourX is one such platform that is causing worry and distrust among the traders.

iFourX Overview

iFourX offers trading in Forex, Commodities, and Indices and claims to have been registered in Saint Lucia under iFourX Capital Limited. However, due to the lack of regulations and dicey operational tactics, the broker is no longer considered a legitimate one.

It is not just about the regulatory oversight with this one, as it has several other drawbacks, including:

• Higher minimum deposit requirement of $5000
• While leverage is offered up to 500x, it charges a $7 per lot commission

Now, while the traders are always advised to try the brokers before committing with a huge sum amount and depositing in smaller amounts with diversification, iFourXs tactic of a higher minimum deposit requirement is a big play to rob traders of huge amounts all at once, even if they are just there for trial.

User Experiences at iFourX

iFourX works without any regulations, having no authority to keep it in check. Adding to that, users have started sharing their negative and scam-filled experiences with the platform, with some being unable to get their money out.

A trader from Japan has written a worrisome review, stating -

Now imagine what if anyone going to use iFourX with that hefty minimum deposit is unable to come out with their funds?

The platform gets the users funds as well as the profits, a huge WIN tactic for a SCAMSTER!

In addition to that, traders have also raised concerns about the platforms silent support that never answers them. All this leads to a troubling record of the platform. These issues also suggest iFourX might not be a safe place to trade.

What Does WikiFX Say About iFourX?

On a review at WikiFX, iFourX has been marked unlicensed and non-regulated, with a strong warning sign urging the users to stay away from it.

The platform also has a substantially lower trust score of 1.75 out of 10, making it a high-risk platform with no withdrawal methods specified.

Conclusion

There have been several issues, as evident from the traders‘ reviews about iFourX. Be it denied withdrawals, inaccessibility of funds, or silent customer support services, all these lead to concerns related to the platform’s reliability and credibility, imposing a huge risk on the traders hard-earned funds. All these types of tactics are often taken up by the brokers targeting to exploit traders and their funds/profits.

WikiFX analysis also adds to the negative portfolio of iFourX, and the traders are urged to stay cautious and keep a distance from such platforms to safeguard their investments. Victims of iFourXs schemes are recommended to consider filing complaints on WikiFX to expose its practices.

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