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Forex4you - CFD Online Trading on Forex and Stocks

latest release: Varies with device ( 5th October 2021 ) last analysed  3rd September 2021 Not a wallet 
3.8 ★★★★★
2406 ratings
100 thousand
6th October 2015

Jump to verdict 

Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

We downloaded the app and couldn’t find anywhere of a mention about how to withdraw or deposit cryptocurrencies. The only reference for cryptocurrencies is on Google Play.

Trade with forex, stocks, indices, commodities and cryptocurrencies such as gold and oil (?)

Nowhere in the site has it been mentioned how. I google’d using the parameter:

site: https://www.forex4you.com bitcoin or crypto or deposit or wallet.

We also verified with their legal documents and found nowhere in the language that crypto was supported on the site.

Finally, I contacted their chat support and chatted with a certain Vladimir S, about the possibility of depositing or withdrawing cryptocurrencies. Here’s a quote of the interaction:

Daniel Andrei R. Garcia:

15:37Vladimir S.:
Unfortunately, this payment system is not available for your region

15:37Daniel Andrei R. Garcia:
But how about in other regions? I’m trying to search your site about information about this.

15:40Vladimir S.:
There is no information about the crypto wallet on the site. It is available for other regions, but not for yours.

In the absence of evidence pointing to it as having the capability of a wallet, I would have to say that it has no wallet.

Even if we are going to assume that their support was telling the truth, the lack of hard evidence to show their ability to host wallets or even a security mechanism (ie. cold storage) goes against that verdict.

Furthermore, the support did not specifically point to a web page indicating such.


Verdict Explained

This appears to not be a product to receive and send money.

As part of our Methodology, we ask:

Is it a wallet? If not, we tag it No Wallet 

If it’s called “wallet” but is actually only a portfolio tracker, we don’t look any deeper, assuming it is not meant to control funds. What has no funds, can’t lose your coins. It might still leak your financial history!

If you can “have” bitcoins in it but not actually receive or send them, then what really happens is that you can get exposure to the Bitcoin exchange rate but we still don’t consider it a wallet.