Dream4X review – 5 things you should know about dream4x.com

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Beware! Dream4X is an offshore broker! Your investment may be at risk.

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Dream4X is a smart title for a broker whose value can be clearly felt. Unfortunately, not many users will see this, for they might be attracted by the big initial bonus offering, the promises of profit, or any of the other various false claims promoting Dream4X as a legitimate broker experience. The sins are way too many for us to simply let go of Dream4X, and not warn our readers as well as passers-by of the dangers they might face when dealing with Dream4X. Yes, we admit that the website posses a certain appeal to it, but these shady brokers are evolving and are starting to learn new crafts on how to fool users. That is why we have compiled the following review- read it to see why you should not mess with Dream4X.

First of all, opening an account, for this way we can get the most accurate trading and payment conditions. With this broker we came across a simple and easy registration process, that we quickly filled with our credentials. Everything seemed fine until we reached the log in page, from the registration page, which was honestly one of the funniest and at the same time worst thing we have seen on the job. It was advertising some sort of kitchen appliances, all the while incorporating elements from the broker’s site… juts take a look:

We are digressing, but this is surely a sign that the broker is broken and without a license.

Now, if users are to access the login page from anywhere else, they will be greeted to a common login section. From there we encountered an issue, that, long story short, prevented us from entering a user area. This means that we have to take all the trading and payment information from the website. This might create a crisis of information, for the reason that Dream4X is not to be trusted with its claims.

Bear in mind also that the website is rather limited in scope. The information is shallow, and much has been left undisclosed. With that out of the way, we learn that the available trading assets are forex currency pairs, futures, indices, shares, and metals. There is no trace of a specific spread value; the chart that you might have seen is owned by a third part graph provider, as in it has no connection to Dream4X. The leverage is said to be maxed out at 1:400.

The website is available exclusively in English.

DREAM4X REGULATION AND SAFETY OF FUNDS

The main thing we gather is that Dream4X is allegedly located in the UK, where it is logical to be also operating from. Now, this is a big claim, and we had to do some research, because experience has taught us not to trust suspicious brokers.

After some online digging, it turns out that Dream4X is not regulated in the UK, even though it might be located there. The latter matters not. A broker operating in the United Kingdom without a license is completely illegal.

We find no other proper info on the website to suggests a license. Thus we can easily confirm our preliminary suspicions that Dream4X is UNLICENSED, and therefore a risk to all!

And surprise, surprise, Dream4X has no legal documents. Without legal docs the broker can do whatever it pleases and there is no way to go back! The only way is to never have invested in the first place!

And anyway, one can never really trust a broker that offers bonus incentives; most of all the big global FX regulators condone bonus schemes.

Overall, it turns out that Dream4X is one of the worst broker in quite some time!

Always look for  FCA or CySEC regulated brokers, as well as U.S based ones, or any broker that holds a proper license from a legit regulator. The main reason for this is that all money that is invested in unlicensed brokerages will be lost, so better to invest it in a regulated entity than give it to a fraudster. Most FX overseers have strict rules applied to all their regulated entities so that the brokers may not manipulate them or make things work in their favor. Some agencies even offer compensation schemes that are applied to all users of licensed brokers. These funds are applied when the brokers cannot pay their debts to clients. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.

DREAM4X TRADING SOFTWARE

And here we come to perhaps the most surprising of all discoveries, namely that Dream4X offer a fully functioning MT5. Here’s proof:

Although, we were unable to access it, even with a demo account, because we had failed at creating an account (or the broker failed us). It’s still quite the mystery how this illicit broker was able to acquire the MT5…

The MT5, even though the best platform there is, is not nearly enough to redeem this mess of a broker. There are so many other things that Dream4X has to do first…

DREAM4X DEPOSIT/WITHDRAW METHODS AND FEES

Here we have to disappoint our readers, yet again, with the news that Dream4X has barely included any payment information. In fact, “barely” is a poor choice of a word. We mean to say none! There is absolutely no information on any kind of investing information. How can you trust a broker that has absolutely no payment details!

We find no minimum deposit details, no payment methods, no withdrawal fees, no nothing! We did not expect to have even less trust in Dream4X, but here we are.

This broker has proven its illegitimacy on multiple occasions, leaving us to deem it a scam and a risk to all investments.

How does the scam work?

The first step of the most popular investment scam is the ability of online ads to lure users in. Online ads that consist of alluring profit possibilities, luxury, cars, etc, are almost always ads leading to either a scammer FX site or in some cases an intermediary website where users are bombarded with even more fake promises of money.

Those who fall for these are almost always asked to provide some sort of a contact number or email address, so the scammers can start contacting them and asking them to invest.

Picking up the phone, the user will be put with the first wave of scammers, the initiators, whose job is to push for the first deposit and fixate the user in the scam. These individuals are motivated by the fact that they will take a tasty percentage out of the invested sum.

Next come the retainers, or the pro scammers sometimes referred to as “account managers”. These will stay with you for some time and pretend to be on your side. As likable as they seem, rest assured that their only goal is to take as much money as they can. They are great talkers and can easily manipulate clients through different psychological channels.

Once users wish to take out their deposit or profit, which is actually totally non-existent, the broker will start staling the request. This is the most common thing to do. Some fraudsters can stop responding to requests, while others may shut down users’ accounts or entire websites!

The crucial thing to note is that users will never see their invested capital again!

What to do if scammed?

The smartest thing to do is file for a chargeback with your credit or debit card company. MasterCard and VISA have a chargeback period of 540 days.

If you have lost money by means of a wire transfer, the first thing to absolutely do is change your bank account’s username and password. Next, we encourage readers to contact the bank and try to reason with them.

Money lost by way of crypto transactions is definitely lost. There is no way to get it back. It’s crucial to never invest in unlicensed brokers throguh cryptocurrencies.

And lastly, do not fall for recovery agencies or agents. In return for a sum of money these, previously unknown, groups, or person, will promise to recover your lost funds, Safe to say that they will take the commission and disappear!

Rich Snippet Data

Reviewer

TheForexReview

Review Date

2021-05-27

Reviewed Broker

Dream4X

Broker Rating

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