Table of Content
SwizzPRO Review – Facts About SwizzPRO.Net
Table of Content
SwizzPRO Review, There’s nothing like catching the scent of a malicious scheme while on the hunt for scammers. We lie low, load our weapon – the SwizzPRO Review, in this case, aim at the fraudulent broker and shoot!
Now, you’re probably demanding an explanation of why this broker is dangerous and not safe for investing. So, we’ll gladly elaborate on how SwizzPRO left traces that revealed its foul intentions and how we saw through its clever disguise.
|Leverage||Up to 1:500|
|Headquarters||First floor, First St Vincent bank ltd Building, James Street, Kingston – St. Vincent and the Grenadines (SVG)|
|Platforms||MetaTrader 4, WebTrader, MobileTrader|
SwizzPRO Regulation and Security of Funds
SwizzPRO knew it had to appear as legit as possible. Thus, it made sure its legal documentation was up to par. However, it was enough for us to read the first few sentences to conclude we were dealing with an offshore hoax. The fraudulent broker claims to be part of Reverra LLC, based in St. Vincent and the Grenadines (SVG).
Upon searching for that company, we found one by that name, which means it does exist. But, this doesn’t prove that our broker is legitimate and reliable because of one simple fact. SVG is known as being the home to countless scams due to its favorable tax system and the lack of Forex regulations.
Yes, you’ve read that right, the local regulator (Financial Services Authority – FSA) does not care about Forex at all. Therefore, it’s safe to say that SwizzPRO is unlicensed and definitely not the “World’s #1 Rated Broker,” as it claims.
Trading Software Overview
The fraudster was kind enough to give us a glimpse of its browser-based trading platform. As expected, it has some basic features and charts and that’s about it. To be honest, we didn’t expect much from WebTrader in the first place but we were excited to see Meta Trader 4.
Our eagerness quickly turned into disappointment because our PC warned us about unsafe files stemming from the MT4 download link. That’s what you get when dealing with such unlicensed brokers. We were clever to avoid the “hunter becomes the hunted” scenario.
Furthermore, the mobile trader version is nothing more than the same WebTrader found on the website. Undoubtedly, SwizzPRO manipulates this software to make you think you’re trading when you’re actually just giving money away to this greedy con artist.
What Kinds of Accounts Does This Broker Offer?
Here’s what we gathered from the website – three account types:
- Standard – floating spreads, leverage up to 1:30, base currencies (EUR & GBP);
- Premium – floating spreads, arbitrary leverage, EUR & GBP;
- VIP – a spread of 1.4 pips, arbitrary leverage, EUR & GBP.
Commissions are charged only for the first account type. Surprisingly, the leverage for the Standard account is at the legal limit set forth by EU and UK regulators (1:30). There’s also the possibility of opening a demo account, indicating that the financial swindler is patient with potential victims.
What’s worrying here is that the minimum deposit amounts for each account were not disclosed. Even more vexing is the clause in the legal section that says the “company has the right to request the minimum initial deposit,” which is against the rules and extremely shady.
What Can Be Traded on the Market at SwizzPRO?
It seems that our phony made a mistake. In its scheming, it tripped its own feet and we capitalized on that. The home page, as well as the accessible web platform, both mention Forex trading. Yet, it’s missing from the “Products” section. Strange. Nevertheless, here’s a list of what SwizzPRO allegedly offers:
- Forex pairs – EUR/USD, GBP/USD…
- Indices – TA35, DAX, UCO…
- Commodities – gold, silver, sugar…
- Stocks – Amazon, Barclays, Disney…
- Crypto – Bitcoin, Ethereum, Litecoin…
Deposit and Withdrawal Methods
As we mentioned, the minimum deposit amount was not mentioned. Also, after searching far and wide across the legal documentation, we found no info on deposit/withdrawal methods. This could only mean one thing – once SwizzPRO latches onto an unsuspecting victim, it starts giving details about investing, one by one.
If SwizzPro Scams Me, How Do I Get My Money Back?
Unfortunately, we don’t know anything about SwizzPRO’s payment methods. But, here’s where our experience kicks in. From dealing with countless cases, we know what these scammers typically prefer – credit/debit card transactions, wire transfers, and crypto payments.
For card transactions, you can request a chargeback at the issuing bank within 540 days. Wire transfers require a recall. However, if the transaction has been completed, then a recall is impossible so it’s imperative that you act quickly.
Last but not least, crypto transactions can be traced to a wallet in an exchange. Afterward, simply request a refund from the exchange and hope for the best!
- SwizzPRO is an offshore provider operating within Reverra LLC, based in SVG;
- The broker is unlicensed and fraudulent;
- The minimum deposit amount was not revealed;
- MT4 download files are suspicious;
- Deposit/withdrawal methods were not disclosed.
FAQs SwizzPRO Powers Broker
Does SwizzPRO Offer a Demo Account?
SwizzPRO does offer a free demo account on its website.
What is the Minimum Deposit For SwizzPRO?
SwizzPRO did not say which amount it requires clients to deposit. We suspect that it tells potential victims that privately.
What Are The Funding Methods For SwizzPRO?
SwizzPRO kept its funding methods a secret. This is a red flag and reason enough to avoid the scammer.