Is my broker a scam?! 4xpremium

todd55555

Recruit
Messages
10
I'm trading with 4xpremium for about 1 year now if i'm not mistaken. I made a request to withdraw my money (exactly 80k$). They told me i had to w8 like two weeks before i can get my money. Is this normal? this is the first time i'm trying to withdraw my money.
 

FxMaster

Lt. Colonel
Messages
9,156
I'm trading with 4xpremium for about 1 year now if i'm not mistaken. I made a request to withdraw my money (exactly 80k$). They told me i had to w8 like two weeks before i can get my money. Is this normal? this is the first time i'm trying to withdraw my money.
Did you make bank withdrawal?
 

todd55555

Recruit
Messages
10
Yes, I finally made the withdraw yesterday. I got my money. After looking into other forums and sites looks like this is like a normal procedure when you withdraw money that exede 50K.
 

todd55555

Recruit
Messages
10

Yee i found the same thing online when i was curious and did my research. But the thing is that after 2 weeks i got all the money i requested. I also just found out that they are moving from england to australia because of the new EU regulations regarding the leverage. I don't think they are a scam or something. If they were i wouldn't withdraw my money.
 

todd55555

Recruit
Messages
10
FCA Warning here:
https://www.fca.org.uk/news/warnings/index-limited-ta-4xpremium-clone-fca-authorised-firm

The FCA do not make these warnings without cause.
I would steer clear.

I sent them an email today to ask them about whats the deal with this FCA warning and i'm waiting for a response.
What suprises me is that i have read reviews online about brokers who are suposed to be regulated by the FCA and their investors haven't even made a withdraw yet. I found a lot of complains online. I'ts true i had to wait 14 days to get my money back but at the end of the day i did made my withdraw and until now i never had a problem with them.
 

RHANDP

Private
Messages
24
One might remember the glacial speed with which the FCA react, and their lack of enthusiasm for any sort of "boat rocking"!

re. FCA Warning here:
https://www.fca.org.uk/news/warnings/index-limited-ta-4xpremium-clone-fca-authorised-firm

The FCA do not make these warnings without cause.

However, it is truly heartwarming to see your loyalty to this firm.

In order to demonstrate honesty, please provide screenshots of the refund transaction.
(You are welcome to PM them to a moderator should you not wish to post them here).

Refresh my memory, how did you become involved with them?
What was the source of your $80k... I mean, of course, how did you come by these funds?
 
Messages
1
Index Limited and Global Markets have announced their separation. The Investing companies have announced the split on September 17,2018. Index Limited, an online broker, providing trading services to all of its users, was forced to take a difficult decision due to the new market rules provided by the ESMA Regulation, in terms of leverage. "It was a hard decision to take- states Ellion Blackmoore the CEO of Index Limited- we were forced to choose between the European License or our thousands of clients, who collaborate with us. A change in the European Regulation, would cost us hundreds of professional clients, leaving our platform and choose to trade with non-European brokers. This was a cost that we couldn't afford." He further explained that all of the traders investing with 4xPremium, had agreed to certain Terms and Conditions, one of the most important being Leverage, so if the ESMA decided to reduce the leverage, the investors were to close their accounts with the company. Being an ECN, 4xPremium is very affected by the leverage conditions, since it earns from the spread, a decreased spread means decreased earnings. This would cause a huge drop in the company's shares. "These is why the company has decided to go with the investors demands, and choose to keep the same agreement with the same conditions leverage conditions. We are looking to build up a new vision of trading and investing ,Australia maybe be our new renaissance "- explained the company's CEO. The company will remain to announce further updates of what this new improvement will bring.
 

RHANDP

Private
Messages
24
Many thanks for your post. It confirms a link between Global Markets (who should know better) and Index LTD.

One might think Index Limited and Global Markets to be a bunch of disorganised, poorly led, morally bankrupt turds.

Further, one might believe the completely transparent posts in this thread actually confirm that!

I can hardly comment, but would advise you to consider your next posts carefully, as the above could be construed as fraud and misrepresentation.

My opinion remains the same;

FCA Warning here:
https://www.fca.org.uk/news/warnings/index-limited-ta-4xpremium-clone-fca-authorised-firm
The FCA do not make these warnings without cause.
 
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