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Swift Coin Trading Review - is it scam or safe?

Swift Coin Trading Review - is swiftcointrading.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Swift Coin Trading
Swift Coin Trading is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


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

 

None.

 

 

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.

 

 

>> Choose some of the best MT4 brokers <<

 

 

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.

 

 

>> Brokers regulated in Cyprus <<

 

 

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

 

Latest news about Swift Coin Trading
No news about Swift Coin Trading . Check back later.
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Traders` reviews for Swift Coin Trading

Spread

Pros

Cons

 

 

Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

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