Swift Coin Trading Review Is swiftcointrading.com Safe

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Swift Coin Trading Review: Is swiftcointrading.com Safe?

Swiftcointrading.com Review: this is the name of a Forex broker that claims to be located in the United States. Is Swift Coin Trading a legit broker or a scam?

On the website of this broker we find that it provided the following address:

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52 Woodland Ave, Dodge City, KS 67801, USA.

The page opens with the bid to attract continuous investments with the statement “the more you give the more you win”.

Swift Coin Trading dedicates some part of its page to explaining: Benefits of Cryptocurrency, Who Created Bitcoin, and Forex Market Trends.

Bitcoin imageries litter the page and it seems the broker’s intent is to drive home the point that deposits can be made via digital currency. Next, it features another section on cryptocurrency titled: “About Cryptocurrency”.

Swift Coin Trading Software Trading Platform

Swift Coin Trading does not mention the kind of trading platform that its trading software makes use of and this is not an encouraging discovery.

Regulated brokers usually mention trading platforms such as MetaTrader 4 and MetaTrader 5.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

It is not stated what sort of trading products is made available to traders by this broker. However, it would seem like it allows trading of cryptocurrencies.

Again, Forex traders with licenses who are serious about the business provides impressive trading portfolios that includes more than 300 Forex currencies, 5+ cryptocurrencies, and CFDs on numerous commodities like silver, gold, indices, stocks, oil.

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Leverages and spreads are not also stated.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal Methods on Swift Coin Trading

Payment methods for Swift Coin Trading cannot be found on the website and the only means we could discern is Bitcoin via a wallet that clients need to download.

Standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on. It is not so for Swift Coin Trading and this is not a good sign.

Minimum deposits for this broker depends on the type of account a client uses and they range from $40 to $5,000. Withdrawal of less than $5 is not allowed. Fees and charges are not indicated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Swift Coin Trading Licensed?

No. Swift Coin Trading does not hold a license from any regulatory commission and is therefore not under any authority’s jurisdiction.

Support

To reach a customer care agent of this broker, clients are to call: +1-517-234-2838 or email: [email protected]

Conclusion

We have seen from the review above that Swift Coin Trading does not show any trace of a legit broker. As such, traders are advised to stay away from investing in this kind of broker.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Swift Coin Trading Review – is it scam or safe?

Trading Accounts and Conditions

Investment plan Min. deposit Max. leverage Spread Daily Profit
Silver $40 N/A N/A 8%
Gold $2 000 N/A N/A 12%
Diamond $5 000 N/A N/A 3.5%

Swift Coin Trading presents itself as a Belize-registered online broker that allows trading incurrency pairs, precious metals, stocks, indices, commodities and cryptocurrencies. They obviously focus on digital assets and claim to provide their clients with simple, easy to use software and attractive trading conditions.

The broker says that its customs can choose from three investment plans, all of which are available for 20 days and promises fixed returns. Apart from their account type and trading conditions, which remain largely unclear, we have serious concerns about this broker and the details will be highlighted below in this review.

Swift Coin Trading Advantages

Swift Coin Trading Disadvantages

False claims of regulation

According to its presentation, Swift Coin Trading operates in “key cities in Asia-Pacific, European and the emerging markets of Africa and South America”. The broker says to be owned and operated by Swift Coin Trading Limited a company allegedly authorised and regulated in Belize, although it claims to be based in the USA. Actually, Swift Coin Trading’s website refers to the regulatory body falsely as “Crystal Financial Consult Commission,” which is ridiculous.

Click on the image to zoom in.

Although we generally don’t think highly of brokerages licensed in this offshore zone, a license from the local International Financial Services Commission (IFSC) is better than nothing. However, going on the online registry of the regulatory agency we find no mention of the company’s name, which leads us to conclude that the information presented on the website is faulty and that the broker does not fall under any regulatory oversight whatsoever. In our view, companies that present such purposefully misleading information should be avoided at all costs.

Besides, the people operating the brand are not bound by any government regulator, which means that potential clients (or victims) have no one to turn to in case they have legitimate grievances. We keep reiterating that the lack of legit financial regulation brings together with it uncertainty regarding the most crucial aspect of a brokerage – the safety of the clients’ funds.

Zero clarity on trading conditions and platform

Another major disadvantage of Swift Coin Trading is that its offer is utterly unclear. The broker has only disclosed some minimum investment amounts, as well as percentages of promised returns. Thus, potential clients of the broker are unaware of the spreads, commission fees, the maximum leverage levels available, minimum trade sizes, etc.

It is even unclear which trading platform Swift Coin Trading uses or whether it offers a trading platform at all. The broker does not offer demo accounts, and we couldn’t log into any platform even after registering a live account (without depositing any money). We only got access to some strange dashboard, where trading is not enabled.

Click on the image to zoom in.

It is possible that this broker doesn’t have a trading platform at all, and only aims at receiving deposits from clients that are unaware of its intentions. That being said, most brokers offer trading on the ever-popular MetaTrder4 (MT4) platform, as it is preferred by the majority of traders.

As regards the daily profits promised by Swift Coin Trading ranging from 8% to 13.5% by investment plan, we feel the need to clarify that no company and no authority can guarantee you any steady returns in the online trading world. For example, now that legitimate EU brokers are obliged to report the percentage of their clients losing money, their statistics show that from 65% to 85% of all traders suffer losses.

Conclusion

All in all, there are too many red flags and too many uncertainties with regards to Swift Coin Trading. The broker tries to mislead investors that it is regulated in Belize and promises certain daily returns, while its trading conditions and platform

Unfortunately, the forex and cryptocurrency markets are plagued with fraudsters trying to rip-off naive investors in every possible way. That is why traders should always be on the alert and check carefully brokers’ details and the public registers of the respective financial regulators in order to make sure they deal only with licensed and reliable companies.

There are plenty of brokerages that hold licenses issued by reputable financial authorities such as UK’s FCA, Cyprus’ CySEC or Australia’s ASIC. Below, you can find more information about regulation in Cyprus as well as a list of brokers licensed there.

And finally, here are the highlights of the present review of Swift Coin Trading:

Pros Cons
None False claims of regulation
Zero clarity on trading conditions
The broker may not offer a trading platform at all
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Swift Coin Trading Review

In this review, we will describe why Swift Coin Trading is a scam that you should avoid at all cost !

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Is Swift Coin Trading Legit?

Looking at Swift Coin Trading website, it shows that they are owned by Swift Coin Trading Ltd. Swift Coin Trading ltd. is located in Belize, a well-known offshore zone and a preferred location for shady brokerage. Swift Coin Trading is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.

To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why Swift Coin Trading is a dangerous broker to deal with.

Are Funds Safe with Swift Coin Trading ?

With such lack of information and Swift Coin Trading being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is Swift Coin Trading is withholding vital information to users.

Swift Coin Trading could go bankrupt from one day to another since there are no banking information about this broker.

High Success Rate – Transparency & Integrity –

Swift Coin Trading Review: our Conclusion!

Swift Coin Trading is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.

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