Table of Content
Swiss4Trade Review – Learn More About Swiss4Trade.Com
Table of Content
Upon accessing the website of this extremely shady broker, we immediately noticed that something was fishy. How can a provider that claims to be regulated and successful be so vague and non-transparent at the same time? It does not add up. Thus, we decided to pull up the Swiss4Trade Review to investigate this financial market anomaly.
If you’ve been contacted by Swiss4Trade, then it is fortunate that you are here. All the negative sides of the unscrupulous broker will be revealed and you will know how dishonest it is.
|Headquarters||63 Steel House 4300 Parkway Whiteley Fareham Hampshire PO15 7FPP O 1 5 7 FP UK|
|Broker Type||Forex, Crypto, Commodities|
|Platforms||Web terminal, Desktop terminal, Mobile trader|
Is Swiss4Trade Broker Safe? Regulation and Security
Do you know what’s the biggest problem of this troublesome provider? The fact that it is anonymous. It claims to be part of Swiss Watch Trader Ltd but it is simply not convincing enough. Regulated in the UK? Right…
Well, that is an easy one to check. Let’s see what the UK’s financial market regulator, i. e. the Financial Conduct Authority (FCA) has to say about that. Would you look at that! There are no files on Swiss4Trade but we found something on the alleged owner company.
It does exist and is indeed authorized to operate by the FCA. However, there is absolutely no connection between this company and Swiss4Trade. The fraudster simply hides behind that name to appear legit. But what about the phone number discrepancy? The results were alarming, to say the least.
The FCA issued a warning against a clone firm that uses the exact same phone number as Swiss4Trade! This could only mean that the same malicious author is behind both of these schemes. Needless to say, the financial swindler has been busted for lying.
Instead of wasting your time dealing with these clowns, you should look for a legitimate broker that is licensed by top-tier regulators such as the aforementioned FCA, CySEC, ASIC, etc. These authorities imposed rigid rules that brokers have to abide by.
The benefits include negative balance protection, and keeping your funds in a segregated account in a Tier 1 bank. Also, the minimum capital requirement for a UK-based broker is €730 000.
What Kinds of Trading Platforms Are Available?
Swiss4Trade is essentially selling snake oil here, folks. The phony broker claims it offers the “best trading platform ever designed.” First of all, a web-based platform cannot possibly fill those shoes. Secondly, while it does kind of resemble Meta Trader 4, a credible software, it is nothing more than a terrible spin-off. It lacks the features that made MT4 famous.
Furthermore, there are also two more versions of the terminal platform – the desktop terminal and the Android/iOS version of it. Bear in mind that the fraudulent broker made these platforms available for its own convenience, not yours. Without a license, there’s no guarantee that these platforms are not being manipulated by the scammer.
This is what they do all the time; they let you deposit funds but not trade. Instead, they only create an illusion of trading – you see some charts and graphs moving, maybe some numbers popping up but that’s all a hoax.
What Types of Accounts Does Swiss4Trade Provide?
It seems our fraudster was lazy when it came to different account types. There are none except for the live and demo account. Pretty unsophisticated if you ask us. Nevertheless, there is a demo account, which is a plus.
Pardon us for asking, but shouldn’t the minimum deposit be specified? How is a client supposed to know how much money is needed to start trading?
Trading Instruments Available at Swiss4Trade
When it comes to the trading instruments, here’s what Swiss4Trade says it offers:
- Forex pairs – AUD/CAD, EUR/USD, EUR/CHF…
- Crypto – Bitcoin, Dash, Litecoin, Ethereum, Ripple…
- Commodities – gold, silver, natural gas, brent oil, coffee, oats…
The available leverage is a dead giveaway we’re dealing with a scammer. It goes all the way up to 1:500! If the broker were truly regulated by the FCA, this would be impossible since the regulator limited the FX major pair leverage to 1:30 for retail clients in order to prevent enormous losses.
Moving on to spreads. Specific values weren’t disclosed but we saw 1.7 pips on the trading platform. Too wide, we’re afraid and hardly “tight fixed” as the fraudster claims.
Funding Methods at Swiss4Trade
If you’re going to copy someone else’s text, at least change the name so as not to look like a complete idiot. Swiss4Trade’s Deposit policy starts out by saying you have to send money to For Trade Ltd. Hilarious!
As for the payment methods, we do know about credit cards and wire transfers. There’s also talk about electronic payments but no details. The minimum deposit was also not disclosed. When it all adds up, this section is really vague.
How Do I Get a Refund if Swiss4Trade Stole My Money?
If you’ve deposited funds via credit card, then a chargeback is the right thing for you. Go to the issuing bank and request it within 540 days. Unless you’ve given your personal information to the scammer, you’ll get your money back.
For wire transfers, the transaction reversal process is known as a recall. However, if the transaction has been completed, the recall will fail. Thus, rush to the bank immediately!
- Swiss4Trade is a fraudulent broker that claims to be regulated by the FCA;
- It is not regulated by the UK’s financial market authority;
- The trading platform is shady and lackluster;
- The minimum deposit was not mentioned;
- Leverage is way too high and spreads are unfavorable;
- Some parts of the legal section were copied from somewhere else.
FAQs About Swiss4Trade Broker
Is Swiss4Trade a Legitimate Broker?
Swiss4Trade is not a legitimate broker because it lied about its owner and regulation.
What Funding Methods Does Swiss4Trade Accept?
The broker did not specify the methods. It only mentioned credit cards, wire transfers, e-payments and other methods.
Is Swiss4Trade a Good Broker?
Swiss4Trade is definitely not a good broker but an illicit one. Shady, unregulated and fraudulent.