SwiftFXtrader review – is swiftfxtrader.online a scam or safe?

SwiftFXtrader review – is swiftfxtrader.online a scam or safe?

SwiftFXtrader Key Facts

🔴 SwiftFXtrader offers questionable high-yield investment opportunities – a clear sign of a scam!

🔴 SwiftFXtrader provides fake contact information – beware!

🔴 SwiftFXtrader lacks any form of license for the provision of its services – a huge red flag!

🔴 SwiftFXtrader’s domain is set to expire soon – another off-putting detail!

SwiftFXtrader products and services

SwiftFXtrader is a scam company that pretends as a CFD broker – however it claims to be automated to such a degree that it can guarantee weekly bonuses of at least 50% of your deposit. In reality there is no difference between SwiftFXtrader and any other high-yield investment scheme.

People should always be cautious when dealing with businesses offering enormously high yields because it’s scammers’ trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it’s a scam, so beware.

SwiftFXtrader company and regulation

SwiftFXtrader is not a licensed company – there is this belief among scammers that if they do not mention a license they are exempt from needing to have one – this is false of course, you should stay away from unlicensed firms at all costs.

The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.

While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to. 

Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.

SwiftFXtrader address and contacts

SwiftFXtrader has provided us with the following address – Myrte Ave Los Angeles California 90001. USA. However, as the company is not licensed to deal in the States, or anywhere else, we cannot believe the address to be indicative of SwiftFXtrader’s actual whereabouts.

Transparency is crucial when talking about brokers and investment companies, and it’s part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it’s generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company’s legitimacy.

SwiftFXtrader website info

SwiftFXtrader’s domain has been online since May 2020 – and it is set to expire in May 2021, in a bit over a month. Such short-lived domains are the unmistakable sign of a scam, as fraudsters do not register more long-term ones, since their operations get shut down rather quickly. The domain is hosted on the 198.54.116.43 IP address – along the 922 domains hosted there, there are some other scammers besides SwiftFXtrader. The ones we have reviewed are available below:

SwiftFXtrader Viperbitcoin
Expertfxpro
 

The owners of the website are not available to a WhoIs lookup, which means they once more fail to live up to the standards of transparency.

The domain has gathered such low traffic amounts that it does not even show up on SimilarWeb’s popularity index – usually another sign of a scam.

Scam warning

We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority. 

However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.

Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.

1 Comment

  1. Joaquin Nicolas Acosta

    I was scammed after making 3 deposits, after the third it was assumed that I was going to be benefited with my transactions for a total amount of 5500 dollars. When I made the third payment, of 450 dollars, apart from the transfer fee, they told me that for the update I had to pay 350 dollars more to finally receive my payment. At the end of the day, every time I make a payment, they appear to me with something new to pay. I have already invested more than 1600 dollars and they never pay me because they ask for another deposit

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