SwifyFX.com

SwifyFX.com, or also know as SwiftyTrade, speaks a lot but out of what it claims to be offering, nothing is delivered. This turned out to be the typical scammer broker, and nothing more.

SwifyFX.com says to be licensed by ASIC but reveals no company name or other details that are imperative. Without supporting evidence, how can we trust it? We went to ASIC's database of licensed entities and, without a moment of surprise, found no result for one SwifyFX.com. So, a license from ASIC SwifyFX.com holds not!

Moreover, we can pretty much asserts that the firm does not have any legal documents. The terms and conditions are too short to be taken seriously. These are signs that the broker is illegally operating. The missing legal documents can be seen as a missing link between the broker and the client that is needed to create a legal ground for transfers and deals to be made on. Without these provisions, the broker can do as it wishes with complete disregard to the user's needs.

Essentially, we can call this broker anonymous, which is labeling it as a very dangerous entity, one with an unknown address.

Last but not least, the broker has an official FCA warning issued against it. This is the last point we have to make. A red flag from this agency means that you are definitely nor licensed. SwifyFX.com is unregulated and a risk to all!

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

There was no need to dig too deep to find the truth of SwifyFX.com. In essence, this isn't really a broker. SwifyFX.com does not have a trading software, something that we learned the moment we opened an account. The client area simply did not offer a platform for FX trading.

Therefore, SwifyFX.com has no right to call itself a broker. There are no spreads that apply to it, no leverages, and no tradeable assets. In essence, this company lies on its website by claiming it offers trading conditions.

SWIFYFX.COM LOGIN

In the user area we learn that SwifyFX.com pretty much offers no trading software. Instead, the portal includes a simple and useless third party chart mirroring crypto prices from different exchanges. This serves absolutely no purpose. Clients cannot trade on these!

However, SwifyFX.com has not forgotten to mention that it offers investment packages. These are the epitome of the investment scam. for they are quite literally an investment scam: the party requires a direct investment in return of a false promise of profit. Never invest is similar schemes!

SWIFYFX.COM MINIMUM DEPOSIT

As is known, investing in unlicensed brokers is a complete loss!

There are apparently two main methods for investing: crypo wallets and Skrill. However, the Skrill method is actually unavailable as clearly indicate by the broker, yet for some reason the firm has it still on display as one of its payment gateways. So technically , users can only invest by means of a couple of crypto wallets. The risk is even bigger, considering that crypto investments are untraceable and are therefore paid to an unknown person or set of people.

The minimum deposit for activating the first investment package is $500.

There is a depositing fee which can vary between 2 and 4 percent.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

SWIFYFX.COM WITHDRAW TIME AND FEES

We highly doubt that users will be able to take out funds. The reason for this is obvious: the broker is unregulated.

The withdrawal area indicates that there is a fee ranging between 1% and 3% yet nothing more is said of it.

This is the only withdrawal information that we have, that we were able to get. The broker reveals nothing else.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

SwifyFX.com has all the makings of a typical scammer broker. Do not invest here!