Caution Investors Infinity4x – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
Infinity4x is a company that claims to be registered in the Marshall Islands, a notorious offshore jurisdiction that does not regulate or supervise financial services providers. The broker claims to have offices in Australia, New Zealand, and Hong Kong, but these are likely to be false or misleading. Infinity4x does not have a valid license from any reputable regulator, such as ASIC, FCA, CySEC, or FSCA. This means that the broker is not authorized to offer its services to Australian residents or any other jurisdiction where such a license is required.
Regulation and Compliance:
Regulation is one of the most important factors to consider when choosing an online broker. A regulated broker must comply with strict rules and standards that ensure the safety and fairness of its services. These include keeping client funds in segregated accounts, providing negative balance protection, participating in compensation schemes, undergoing regular audits, and adhering to anti-money laundering and consumer protection laws. A regulated broker also has to display its license number and regulator’s logo on its website and marketing materials.
Infinity4x does not meet any of these criteria. The broker does not disclose any information about its regulation or compliance on its website. The only reference to regulation is a vague statement that the broker “follows the rules and regulations of the relevant authorities”. However, this is not backed up by any evidence or details. Moreover, the broker has been blacklisted by ASIC, the Australian financial watchdog, for operating without a license and posing a significant risk to investors.
Customer Reviews:
Customer reviews are another way to assess the reputation and reliability of an online broker. A reputable broker should have mostly positive feedback from its clients, as well as respond to complaints and queries in a professional and timely manner. A scam broker, on the other hand, will have mostly negative reviews, as well as ignore or delete customer complaints.
Infinity4x has a very poor reputation among online traders. The broker has received numerous complaints and warnings on various forums and websites, such as Forex Peace Army, Trustpilot, Scamwatch, and others. Some of the common issues reported by customers include:
– Difficulty in withdrawing funds or receiving no withdrawals at all
– High-pressure sales tactics and aggressive account managers
– Manipulation of prices and spreads
– Unauthorized charges and fees
– False or misleading advertising
– Poor customer service and support
Products and Services:
Infinity4x claims to offer over 200 trading instruments, including forex pairs, indices, commodities, stocks, and cryptocurrencies. The broker also claims to provide various trading platforms, such as MetaTrader 4 (MT4), WebTrader, MobileTrader, and Infinity Trader. However, these claims are not verified or supported by any evidence.
In fact, Infinity4x does not provide any demo accounts or free trials for its platforms or products. This means that customers have to deposit money before they can access the broker’s services. This is a red flag that indicates that the broker is not confident or transparent about its offerings. Moreover, the broker does not provide any information about its trading conditions, such as leverage, spreads, commissions, minimum deposits, or withdrawal fees. This makes it impossible for customers to compare or evaluate the broker’s products and services.
Location:
Infinity4x claims to have offices in Australia, New Zealand, and Hong Kong. However, these claims are likely to be false or misleading. The broker does not provide any physical addresses or phone numbers for these locations. The only contact details available on the website are an email address () and a live chat option.
Moreover, the broker’s domain name (infinity4x.com) was registered in September 2020 by an anonymous entity using a privacy protection service. This means that the identity and location of the owner of the website are hidden from the public. This is another red flag that suggests that the broker is not legitimate or trustworthy.
Customer Service:
Customer service is an essential aspect of online trading. A good broker should provide fast and friendly support to its clients via multiple channels, such as phone, email, chat, or social media. A bad broker will have poor or non-existent customer service that will leave customers frustrated and dissatisfied.
Infinity4x has a very low level of customer service. The only way to contact the broker is via email or live chat. However, these options are often unavailable or unresponsive. Many customers have reported that they have not received any replies or assistance from the broker, especially when they requested withdrawals or refunds. The broker also does not have any social media presence or online community where customers can share their experiences or feedback.
Is Your Money Safe in an unregulated company?
The answer is no. Trading with an unregulated company is very risky and can result in losing your money. An unregulated company does not have to follow any rules or standards that protect your funds, data, or rights as a customer. An unregulated company can also disappear or shut down without any notice or compensation.
Infinity4x is an unregulated company that has been blacklisted by ASIC for operating illegally and potentially engaging in fraudulent activities. The broker does not keep client funds in segregated accounts, does not provide negative balance protection, does not participate in any compensation schemes, and does not undergo any audits or supervision. The broker also has a history of withholding or denying withdrawals, charging unauthorized fees, manipulating prices and spreads, and lying about its products and services. Therefore, your money is not safe with Infinity4x.
Defensive Measures Against Fraudulent Brokers
If you have been scammed by Infinity4x or any other fraudulent broker, you should take the following steps to protect yourself and recover your money:
– Stop all communication and transactions with the broker
– Report the broker to your local authorities and regulators
– Contact your bank or payment provider and request a chargeback or dispute
– Gather all the evidence and documentation of your dealings with the broker
– Seek legal advice or assistance from a reputable recovery agency
Conclusion:
Infinity4x is an unregulated and blacklisted online broker that should be avoided at all costs. The broker has been exposed by ASIC and other sources for operating without a license and potentially engaging in fraudulent activities. The broker has a very poor reputation and customer service and does not provide any reliable or transparent information about its products and services. Trading with Infinity4x is very risky and can result in losing your money.
If you are looking for a safe and reputable online broker, you should choose one that is regulated by a well-known authority, such as ASIC, FCA, CySEC, or FSCA. These regulators ensure that the brokers comply with strict rules and standards that protect your funds, data, and rights as a customer. You should also do your own research and due diligence before signing up with any broker and always trade with caution and responsibility.
