Swisstraders.com is a trading company that has been in operation for several years, offering services to individuals who are interested in trading online. However, there are several allegations that the company is a scam broker, and this review will take a closer look at the claims made against it.
Company Overview
Swisstraders.com is a company that operates from the United Kingdom, and it offers a wide range of trading services to its clients. According to the company’s website, it offers services such as forex, commodities, indices, and cryptocurrency trading. It claims to provide a safe and secure trading environment for its clients, with state-of-the-art trading platforms that offer real-time trading.
Broker Name | Swiss Traders |
Website | https://swisstraders.com |
Location | Rue du Rhône 14, 1204 Genf |
Regulation | Not regulated |
Warning | FINMA |
Team
The company does not provide information about its team members on its website. This lack of transparency is concerning, as clients have the right to know who they are dealing with.
Services or Products
Swisstraders.com claims to offer a range of trading services, including forex, commodities, indices, and cryptocurrencies. The company states that it offers competitive spreads and leverage, allowing clients to maximize their profits.
Trading Platforms
The company offers a range of trading platforms, including MetaTrader 4, WebTrader, and MobileTrader. These platforms offer clients the ability to trade from anywhere and at any time.
License and Regulations
License Status
Swisstraders.com claims to be licensed and regulated by the FINMA. However, we have found no evidence that the company is indeed licensed by the FINMA. Whether we found a warning from FINMA.
Regulation Status
The FINMA is a regulatory body that oversees financial companies operating in Switzerland. It is responsible for ensuring that companies comply with regulations and that clients are protected. But, this broker’s claim of being regulated by FINMA is false.
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 they are not subject to the same level of scrutiny as regulated brokers. Unlicensed brokers may not have the necessary resources to protect their clients, and they may not have the same level of expertise as regulated brokers. This can lead to clients losing their investments or being scammed.
Legal Warnings Against swisstraders.com
We found a warning from FINMA mentioned as this company is not registered in the commercial register.
Client Feedback About swisstraders.com
About Trading
Clients who reported positive experiences with swisstraders.com stated that the trading platforms were easy to use. But, at first look, it can be easily understood that these all are fake. However, some clients reported that the spreads were too high, making it difficult to make a profit.
About Customer Service
Several clients reported negative experiences with the company’s customer service. Some clients stated that they were unable to reach customer service representatives when they needed assistance, while others stated that customer service representatives were unhelpful.
How Can FXfarmupdate Help You If You Get Scammed?
FXfarmupdate is a website that provides information about forex brokers and trading platforms. The website offers reviews of brokers and platforms, as well as news and updates about the forex industry. If you have been scammed by a forex broker, submit your case to us. We will evaluate your case and will provide you with a free consultation and service recommendations to help you in retrieving the lost fund.
Final Thought
Based on the information gathered in this review, it appears that swisstraders.com is not a reputable broker. It is important to be cautious when choosing a forex broker and to do your due diligence before investing your funds. Choosing a licensed and regulated broker is always the safest option to avoid scams and protect your investments.
