Neural 4X– Is It Secure enough to be Trusted?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Neural 4X - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2020
Neural 4X is a forex broker who is operating with a complex regulatory status. It does not hold a license of the country from where it is operating “the Bermuda country”. However, a connection was found between Neural4X and Notesco UK limited to a company registered in the UK’s FCA database. It has also mentioned on its website that the broker is based and registered in Bermuda and is operating under the trading name of Notesco UK Limited.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://neural4x.eu/
Founded: 2020
Regulations: Unregulated
Languages: English, French, and Italian
Deposit Methods: Skrill, Neteller, Crypto funding, and UnionPay
Minimum Deposit: $0 or $100
Free Demo Account: Yes
Number of Assets: 200+ trading assets
Types of Assets: Forex, Spot metals, Spot Indices, Commodities, Futures, and shares
Trading Accounts and Conditions
You can choose between three types of trading accounts offered by Neural4X and their trading conditions are:
- Standard Account: with spreads starting from 1 pip, the minimum deposit $0, leverage level 1:100, and zero commission.
- Basic Account: with spreads starting from 2.2 pips, the minimum deposit $100, leverage level 1:100, and zero commission.
- Premium Account: with spreads starting from 0.2 pips, the minimum deposit $100, leverage level 1:300, and $10 commission.
Neural 4X – Advantages
There are no trading incentives or advantages that Neural4X is offering to its customers for investing money with it.
Neural 4X – Disadvantages
-
A complex and Confusing Regulatory Status
Neural 4X is a forex broker who is operating with a complex regulatory status. It does not hold a license of the country from where it is operating “the Bermuda country”. However, a connection was found between Neural4X and Notesco UK limited to a company registered in the UK’s FCA database. It has also mentioned on its website that the broker is based and registered in Bermuda and is operating under the trading name of Notesco UK Limited. Although Neural 4X is registered in the country of Bermuda under the given registration number, when the Bermudan monetary authority’s databases were checked, Neural4X broker’s name was not present in it, which means it does not hold a Bermudan license. In addition to this, when the FCA’s website was searched for Notesco Limited, you will notice that it is not Notesco Limited but Notesco UK Limited. It can be a different company possibly but when checking Notesco UK’s trading names, the Neural4X name was also found in the list which shows that there is some connection between both the entities. It might have applied for the Bermudan license. Therefore, we cannot conclude clearly that Neural 4X is a scam. Instead, it has a complex legal status.
It is, therefore, advised to choose the EU regulated forex broker with authentic regulatory status and safe trading environment.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
-
Discrepancies in the Information of the Initial Minimum Deposit
Neural4X explains on its Account tiers page the minimum deposit amount to be $100, whereas at the same time the broker demands the minimum initial deposit to be $500. So you cannot conclude which amount is correct. There is a lot of discrepancy in the information provided by the broker on its website and of course, it harms the public image of the broker. Besides the inadequate and misleading information also confuses the customers and can mess up their trading accounts. Moreover, the broker also does not offer a micro account.
-
Shady Bonus Policy and Missing Information
Neural4X has mentioned offering the bonuses, however, this claim is not acceptable because the broker has links to the FCA regulator and the problematic fact is that many years ago the FCA banned the bonuses and all kinds of trading incentives. It means Neural4X is clearly misleading the customers. So it is important for the broker to at least specify the bonus conditions and details according to the available jurisdictions.
Besides this, there was no information found related to the minimum withdrawal amount and withdrawal fee. The customer should first confirm the fee charges before making any deposits with this broker. Scammers always try to hide their identities by providing inadequate information and later on using it as an excuse to cancel the withdrawal requests.
-
Shady Withdrawal Policy and Different Fee Charges
Neural 4X provides its customers trading bonuses, which are not eligible to withdraw under any circumstances. It is only a trap to attract more victims and to gather more deposits. Besides, the scammers like Neural 4X use this policy as an excuse to deny or cancel the withdrawal requests.
Additionally, this broker charges several fee amounts from its clients. For example, this broker deducts a 3% commission on accounts that have not executed any trade activity each month as well as a $50 annual administrative fee. Whereas, the legitimate forex brokers never charge such types of unbearable fee charges.
-
High Risky Spreads
The spread values offered by Neural4X go as high as 3 pips on even very common currency pairs like EUR/USD which is a high value as compared to the industry average and is totally unacceptable. Besides this, such huge spreads mess up the client’s trading account and increase the cost of trading activities which is of course not to the advantage of the customer. It prevents the customer from earning a sustainable profit.
Conclusion
Neural 4X broker based in Bermuda promises to offer top-notch funds safety, attractive leverage caps, and most importantly pleasant and profitable trading experience. It is a brand name of an authorized company Notesco UK limited but it is still in doubt and we are not confirmed about the regulatory status of this broker. Hence, making money in a highly fluctuated environment like the forex market is not an easy task even with a legit broker. However, if you are dealing with an anonymous forex broker like Neural 4X with a complex and confusing regulatory status the only possible outcome will be the loss of the entire investment.
Therefore, it is advised to always pick an FCA, CySEC, or EU regulated broker because Europe has one of the world’s safest environments for the investor’s funds and also hosts the leaders in the forex industry.
Neural 4X
Pros
- None
Cons
- A complex and confusing regulatory status
- Discrepancies in the information of the initial minimum deposit
- Shady bonus policy and missing information
- Shady withdrawal policy and different fee charges
- High risky spreads
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more