Swiss crypto bank is a scam broker that has attracted a lot of negative feedback from clients. This review will examine the company and its practices and highlight the reasons why dealing with this unregulated broker is risky.
Company Overview:
Swisscryptobank. group operates as an offshore company, registered in St. Vincent and Grenadines. The broker offers trading services in Forex, cryptocurrencies, and stocks. They claim to be dedicated to offering secure and profitable trading for their clients.
Broker Name | Swiss Crypto Bank |
Website | swisscryptobank.group |
Location | St. Vincent and Grenadines |
Address | Kingstown, St. Vincent, and Grenadines |
Regulation | Not regulated |
Team
Swisscryptobank. group’s website fails to provide any information on the people behind the company. There are no details of the management, directors, or any of the people responsible for making decisions in the company.
Services or Products
The broker claims to offer trading services in Forex, cryptocurrencies, and stocks. However, the broker does not provide any insight into the assets they have available, nor do they offer any information on trading conditions or fees. The website lacks transparency in its products and services offerings.
Trading Platforms
Swisscryptobank. group provides the MT4 trading platform to its clients. Clients who sign up with this broker are promised fast, secure, and reliable access to the markets through this platform. Unfortunately, the company’s promise does not translate into a tangible experience, as the platform is known to be unstable and prone to frequent crashes.
License and Regulations
Swisscryptobank. group is not licensed or regulated by any financial regulatory body. This broker operates as an offshore company. Its activities are not subject to any oversight or scrutiny, leaving clients exposed to a high level of risk.
License Status
The broker is not licensed by any financial regulatory body. They operate as an offshore company registered in St. Vincent and Grenadines.
Regulation Status:
Swisscryptobank. group does not have any regulation from any financial authority. Lack of regulation means clients have no protection against misconduct, fraud, or broker malpractice.
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 extremely risky. Unlicensed brokers are not bound by any financial regulatory body to adhere to financial rules, meaning that their operations are carried out in an unsupervised and unregulated manner. This puts clients at risk of losing their funds and being exploited by these brokers.
Legal Warnings Against swisscryptobank. group
Multiple regulatory bodies have issued warnings and Alerts against Swisscryptobank. group, indicating that they have committed fraud, misrepresentations, and illegal activities. The authority that issued the alert includes;
– FINMA (Switzerland)
– FCA (UK)
– ASIC (Australia)
Client Feedback About swisscryptobank.group
The overwhelming feedback from clients highlights that Swisscryptobank.group is a scam broker. Clients have reported difficulties withdrawing funds, a lack of transparency in trading conditions, and poor customer service. Here is what clients are saying about the broker;
About Trading
Swisscryptobank. group offers a wide range of services that are not transparent. Traders are shown inaccurate market data, and as a result, they cannot make smart decisions about their trades.
About Customer Service
Clients who have reached out to the customer support team have reported having to wait for extended periods to receive a response or complete their queries. The customer service team is not knowledgeable enough to handle the client’s concerns effectively.
How Can FXfarmupdate Help You If You Get Scammed?
FXfarmupdate keeps an updated list of scam brokers, and you can check to see if the broker you intend to deal with is listed. If you fall victim to a scam broker, you can contact FXfarmupdate, which has a team of professionals that can provide you with a free consultation and service recommendations to help you in recovering your money.
Final Thought:
Swisscryptobank. group is an unscrupulous broker that has proved to be a scam and puts clients at risk. The company is not regulated, and it has a terrible reputation among its clients. Therefore, it is not advisable to deal with this broker given the huge risk involved. Clients are better off dealing with regulated brokers who are accountable and responsible for their actions and endeavors.
