Zero Regulation: The BVI Offshore Scam
Regulation Status: BVI (No Financial Oversight)
Claimed Regulation: Forex4you claims registration in the British Virgin Islands (BVI).
Actual Regulation: The BVI Financial Services Commission (FSC) provides company registration but **ZERO genuine financial regulation** for forex trading. No client fund segregation, no investor compensation, and no oversight of trading execution.
Verified: Forex4you holds ZERO Tier-1 licenses (FCA, ASIC, CySEC, NFA). This is a pure offshore operation designed to avoid accountability.
BVI/Offshore Registration = Zero Protection
The choice of BVI is intentional:
- **No Investor Compensation:** No fund exists to recover losses if the broker collapses or commits fraud (unlike CySEC's €20K ICF).
- **No Enforcement:** BVI rarely acts on complaints, and foreign judgments are impossible to enforce.
- **Easy Registration:** Costs minimal money/time, requires no background checks, and allows for anonymous ownership.
Systematic Withdrawal Delays (The Stall Tactic)
4-8 Week 'Processing Time' is Intentional Harassment
Forex4you uses prolonged delays as a core business practice:
- **Average Delay:** Documented 4-8 weeks from request to payment (vs. 1-3 days standard).
- **Excuses Used:** "Compliance review," "high volume," "bank holiday in BVI," "payment processor issues."
- **Hidden Fees:** $50+ processing fees often applied *after* the delay, encouraging clients to cancel and trade the funds away.
**Goal:** To frustrate profitable clients into cancelling the withdrawal request and returning the funds to their trading account, where the money is eventually lost.
Victim #12 — Sarah K., UK
"I deposited £10K. After a profitable month, I requested £5K withdrawal. It sat as 'pending' for 6 weeks. Customer support gave generic excuses: 'system maintenance', 'bank processing issues'. I sent 47 emails. Eventually, I received the money minus a £50 fee. I tried withdrawing the rest. The process started again. It’s intentional harassment."
Verified: Bank statements, 47 emails, withdrawal logs, FCA complaint filed
Victim #21 — Mark T., Germany
"Used them for 3 months. Everything was slow—execution, platform data. Requested €8,000 withdrawal. They hit me with a €50 'processing fee' I hadn’t seen anywhere. The withdrawal took 9 weeks. They are BVI regulated (zero protection). I closed my account and moved to a real ASIC broker."
Verified: Wire receipts, platform screenshots (slow execution), BaFin complaint
Victim #34 — James L., Canada
"They allowed a small initial $200 withdrawal fast. Built trust. I deposited $15,000 more. My next withdrawal request was blocked for 7 weeks. They requested utility bills from 2019, then 2020—moving the goalposts. I realised their goal was to keep my money until I lost it trading or gave up."
Verified: KYC document trail, full account history, withdrawal request logs
Red Flags (Avoid High-Risk Offshore Brokers)
🚩 BVI Registration
British Virgin Islands (BVI) is an offshore haven with minimal financial regulation and no investor protection. Zero oversight.
🚩 4-8 Week Delays
Legitimate brokers process withdrawals in 1-3 days. 4-8 weeks delay is a deliberate stall tactic.
🚩 Outdated Platform
Older MT4 white-label with slow execution and frequent requotes compared to competitors (red flag for technology investment).
🚩 Hidden Fees
$50+ fees on smaller withdrawals not disclosed clearly pre-deposit, eating into client funds.
🚩 No Regulatory Upgrade
Established 2007 but never upgraded beyond BVI (avoiding Tier-1 regulation for 18 years is a massive red flag).
🚩 High Complaints
Consistent online complaints regarding slow service, withdrawal issues, and high fees since 2015.
🚩 Hidden Fees
Undisclosed $50+ fees on smaller withdrawals and inactivity fees are common practices.
🚩 Outdated Tech
Use of older, non-optimized technology resulting in slow execution and poor spread comparison.
🚩 Est. 2007, Still Offshore
18 years of operation without obtaining a Tier-1 license shows deliberate avoidance of scrutiny.
What to Do If You Deposited with Forex4you
Immediate Actions:
- **1. Withdraw EVERYTHING:** Request full withdrawal immediately (expect delays).
- **2. File Chargeback:** If still within 120 days of card deposit, file a chargeback citing "Systematic Withdrawal Delays/Fraudulent Service."
- **3. Document & Report:** Screenshot the withdrawal log and report to your local financial authority (they may issue a warning against BVI entity).
Safe, Regulated Alternatives
✅ Use Real Tier-1 Regulated Brokers
- Startrader (9.3/10) — Real ASIC/FSCA, transparent about regulation
- IC Markets (9.2/10) — ASIC since 2007, verifiable
- Vantage (9.1/10) — ASIC + FCA, real licenses
- Pepperstone (9.0/10) — ASIC/FCA/CySEC, legitimate
- OANDA (8.7/10) — FCA/ASIC/NFA, transparent