When swiss500 comes to trading online, it is important to ensure that you deal with legitimate brokers who are licensed and regulated by reputable authorities. Unfortunately, there are many scam brokers out there who are looking to take advantage of unsuspecting traders. One such broker is Swiss500.com. In this review, we will take a closer look at Swiss500.com and discuss why it is important to avoid unlicensed brokers like this.
Company Overview
Swiss500.com is an online trading platform that claims to provide traders with access to a wide range of financial instruments, including forex, stocks, commodities, and cryptocurrencies. According to their website, the company is located in Switzerland, and their contact address is Route de Pre-Bois 20, 1215 Geneva.
Team
Swiss500.com does not provide any information about its team on its website. This is a red flag, as reputable brokers usually provide detailed information about their team members.
Services or Products
Swiss500.com claims to offer a wide range of trading services and products, including forex, stocks, commodities, and cryptocurrencies. However, the website does not provide detailed information about these services and products.
Trading Platforms
Swiss500.com claims to offer a trading platform that is user-friendly and easy to navigate. However, the website does not provide any information about the trading platform that they offer. This is another red flag, as reputable brokers usually provide detailed information about their trading platforms.
License and Regulations
License Status
Swiss500.com is not licensed by any regulatory authority. This is a major red flag, as legitimate brokers are required to be licensed by reputable regulatory authorities.
Regulation Status
Swiss500.com is not regulated by any regulatory authority. This is another major red flag, as legitimate brokers are required to be regulated by reputable regulatory authorities.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers is risky because it means that they are not subject to any regulatory oversight. This means that they are not held accountable for their actions, and there is no one to turn to if something goes wrong. In addition, unlicensed brokers are more likely to engage in fraudulent activities, such as manipulating prices and stealing clients’ funds.
Legal Warnings Against Swiss500.com
There are several legal warnings against Swiss500.com. For example, the Financial Market Supervisory Authority (FINMA) has issued a warning against Swiss500.com, stating that the company is not authorized to provide financial services in Switzerland.
Client Feedback About Swiss500.com
Client feedback about Swiss500.com is overwhelmingly negative. Many traders have reported losing money on the platform, and there have been numerous complaints about the company’s customer service.
About Trading
Many traders have reported that the prices on Swiss500.com’s platform are manipulated and that it is difficult to make a profit. In addition, there have been numerous reports of trades being closed without the client’s consent.
About Customer Service
Many clients have reported that Swiss500.com’s customer service is unresponsive and unhelpful. Some have reported that they have been unable to withdraw their funds, despite repeated requests.
How Can FXfarmupdate Help You If You Get Scammed?
If you have been scammed by Swiss500.com or any other scam broker, FXfarmupdate can help you. FXfarmupdate is a website that provides information about scam brokers and offers advice on how to recover your funds. They also provide a list of legitimate brokers that you can use to trade online.
Final Thought
Swiss500.com is a scam broker that should be avoided at all costs. They are not licensed or regulated, and there are numerous legal warnings and client complaints against them. If you want to trade online, it is important to do your research and ensure that you are dealing with a legitimate broker.
