SwissFXTrade Review: Swissfxtrade.com Foul Forex Scam
SwissFXTrade (Swissfxtrade.com) is claiming to be a leader in currency trading. Swiss FX Trade is selling itself as a platform that gives traders maximum control on their advanced trading tools. SwissFX Trade is also claiming to offer actionable market insights with real time trading signals. All these could be helpful if only the platform was offering genuine and transparent services. Our review will expose the rot with SWISSFXTRADE scamming hundreds of unsuspecting investors. Be sure to get the full details.
SwissFXTrade Review
The reason we conducted an in-depth investigation was compelling evidence from members. Some of the members have gone for months without withdrawing funds, even after following set regulations. And this is why we must expose these scam artists for failing to release funds from traders. A platform that doesn’t allow withdrawal ceases to become a real trading platform. SwissFXTrade is another online scam platform ripping the benefits of deposits made by unsuspecting investors.
Thanks to our years of investing and trading, we have come across scam online platforms. To protect the good trading name, we must expose these scam artists for who they are. SwissFXTrade is another bane platform whose intention will be exposed. They want to fool investors into believing that they offer a genuine trading platform. Since we have seen such scams, it makes it easy to spot their mistakes. Read this entire SwissFXTrade Review to find out some of the traps set for unsuspecting investors.
About SwissFXTrade
Not much information can be retrieved regarding the company’s trading history. These scam artists are following the same old tactic of not revealing their actual names. No one knows the names of the founding members or staff members. Investors are depositing funds to an unknown third party which is risky to say the least. And this is why the number of victims is increasing with this anonymous platform.
SwissFXTrade is not allowing any members to recover funds, hiring recovery agents is a waste of time. These agents have no way of picking up the paper trail as the platform is hosted by various IP addresses. It would have been helpful if we had social media handles of any of the founders of staff members. Scam artists are smart not to leave a trace of who they actually are. And this makes it hard for recovery agents to track them down, and recover any deposited funds.
Domain Details
According to the domain register whois.net, SwissFXTrade is a recently created website. The data shows their creation was on 27th February 2019. Those claims of having years of trading experience are immediately thrown out the window. Scam artists will do or say anything to try and make their platforms appear legit. Most of them use false data to try and sell their reliability and market recognition. The bitter truth is that this platform has been scamming investors for over a year.
License and Registration of SwissFXTrade
Disclaimer on their about us page suggests that they are licensed by CySEC. A closer look at the official CySEC’s register shows no such platform exists. Scam artists will try and associate themselves with regulatory bodies to try and throw off any unsuspecting eyes. With top rated brokers, you are assured of a safe trading experience as well as reasonable profit margins. SwissFXTrade IS NOT LICENSED OR REGULATED to offer any trading services.
SwissFXTrade is claiming to be a registered FCM and RFEED with the CFTC. These are all false claims which try and legitimize the platform. According to the officials, they have no platform licensed or registered under this name. You should stay away from it as they are not conducting business according to the stated laws. Deposits made are not insured which is risky for anyone who signs up.
Limitations of SwissFXTrade
Account Details
Swiss FX Trade is furnishing users with three investment plans which offer a guaranteed profit margin. And this is where we notice the huge indifference as no platform or robot can claim a profit guarantee. The three investment plans are listed as Starter, Basic, and Advance. Daily profit is guaranteed at 2 percent, five percent, and seven percent for 14 days straight.
Contact and Customer Support
The platform claims to offer live chat which is not the case. They have deployed a chat robot which is ineffective when answering important questions. Visitors have to wait for long periods before getting a straight answer which is depressing. A real trading platform will have live chat agents to answer queries in real time. Without a live chat agent, you are speaking to a bot which only answers basic questions. And this is another reason why you should stay away as it is not customer-friendly.
Deposit and withdrawal
SwissFXTrade is offering three depository channels to investors. Investors who sign up use Bitcoin, MasterCard, and Visa. Withdrawing funds has been the biggest challenge members are facing. No member has been able to withdraw funds for the past six months. And this is why you should stay away and use proven alternatives. Go for authentic and genuine Forex trading robots which have been tested and come highly trusted.
False testimonials
Another marketing gimmick these scam artists have used is false testimonies. The testimonies you read on their homepage are all copied from other platforms. It goes to show how far scam artists will go to try and legitimize their platforms. Stay away from this trading platform and never believe any testimonial you see. These testimonials never change over time; does it mean no one else is having the same success?
Referral Commissions
The platform is again offering referral commissions to investors. What seems to be a good idea is leading most investors into a den of wolves. Not a single trader or investor has received any of the referral commission promised. Stay away from platforms which claim to guarantee a daily profit margin as this is a hoax. Scam artists will use every trick in the book to try and woo unsuspecting investors.
Trading platform
When it comes to their preferred trading platform, they fail to mention it. Most smartphones are not compatible and the execution speed is slow at best. Another issue is with security as lack of vital software is missing making the entire platform vulnerable. Third parties will easily attack this website and steal vital data such as credit card information. And this is why you should stay away from it.
Safety of funds with SwissFXTrade
Another disturbing issue with SwissFXTrade is safety of funds. Deposits have been going straight to owner’s bank account. Account segregation is not taking place and what is happening is scam artists pooling funds. Stay away of else become another of their victim
Scam or legit
SwissFXTrade is a scam which is waiting to pounce on unsuspecting online investors. The platform is leaking personal data to third parties and is on its way to shutting down. Once authorities get more complaints, they will investigate and shut the whole operation down. You should warn your family and friends from joining any of their affiliate programs. Commissions listed have not been released as the platform is notorious for holding funds.
Bottom line
We will be adding this platform to our scam blacklist and ensure no one else falls for this trap.
Wishing investors a safe trading experience.
