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SwissCCI Review - is it scam or safe?

SwissCCI Review - Is swisscci.com scam or good forex broker?

RATING: 1 / 2 REVIEWS SwissCCI
SwissCCI is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

Account type Minimum deposit
Maximum leverage Spread
Basic No info 1:100 Fixed. from 3 pips
Pro No info 1:100 Fixed, from 2 pips
VIP No info 1:100 Fixed, from 1.5 pips


SwissCCI is a forex and CFD broker, which focuses primarily on its cryptocurrency offering. This is an interesting strategy, which attempts to capitalize on the current popularity of digital assets, but may not be that sustainable in the long term (depending on how they develop). There are a few things you must know, if you are contemplating opening an account with them.


SwissCCI Advantages


A lot of assets covered
Despite putting a lot of emphasis on Bitcoin, SwissCCI also provides access to multiple other markets. They include forex pairs, stock indices, commodities and CFDs on some of the most popular publically traded companies. The crypto offering features several of the major altcoins: BTC, LTC, DASH, ETH, XRP and XMR.


Decent charting
SwissCCI offers a web-based platform, which is relatively simple. The charting package is very intuitive and reminiscent of the one provided by TradingView. Here is a screenshot of the entire layout:



The platform provided by SwissCCI (click to zoom-in)


While this is relatively fine, some trading veterans will prefer dealing with a standalone desktop solution.  MetaTrader4 (MT4) is one of the most popular ones, which has (arguably) even better charting than this one, but more importantly has a lot of additional functionality.


>>Find MT4 brokers here<<


Accepts crypto-transfers
There are a few ways to deposit funds at SwissCCI. Traditional options, like Bank Transfers and Credit Cards are expanded upon by accepting cryptocurrencies. This is interesting, despite the lack of some of the major e-wallets, like Skrill and Netteller.


SwissCCI Disadvantages


Two unregulated companies
SwissCCI is operated by two companies – one based on the Marshal Islands and another in Bulgaria. We suspect the European entity is basically a marketing company, which serves the offshore brokerage, as this is a common practice. Regardless, neither of them are associated with any financial regulatory agency, which makes the overall offer unappealing.

 

These companies also operate the brand Fx Market Pro, which offers slightly different conditions, but has its own issues.

 

Poor presentation
SwissCCI’s website does more work to explain basic cryptocurrency and trading concepts, than to inform one of the actual trading conditions they provide (which is necessary given the broad range of trading assets). This looks like an attempt to attract unsophisticated clients. Additionally no information on the deposit levels for the different account types is provided.


Bonus offers, with a catch
Instead of deposit minimums, the account types at SwissCCI have different bonus percentages. You may be wondering why we mention this in the “disadvantages” section. The reason is quite simple – one must trade thirty times the size of his investment + the bonus amount, before being able to withdraw funds. This may not be a problem for experienced traders, but it may be for newcomers.


Offers managed accounts

This is an issue for us, as the company isn’t regulated. Additionally the broker may be a market maker, which means they have an inherit incentive for clients to lose money. In case you are looking to invest in other traders, be sure to do so with a counterpart, who will not profit from your losses, but gain as you (the investor) does so. One of the most popular places is eToro, the world’s largest social trading network.


Spreads aren’t competitive
Only the VIP clients at SwissCCI will get relatively decent spreads. The other levels – above 2 pips on EUR/USD are simply not on par with the rest of the industry. On top of that, we saw even worse conditions when testing the trading platform. Readers, who zoomed in on the screenshot may have noticed the 7 pips spreads. If you are looking for a real-time comparison of the spreads at some of the leading brokerages, be sure to check the link below.


>>Compare forex spreads<<


Conclusion


SwissCCI is an unregulated forex and CFD broker, which also offers managed accounts. While they are aiming to benefit from the recent hype surrounding cryptocurrencies, they do a rather poor job at explaining their actual offer. The costs of trading aren’t impressive and the addition of bonus schemes and managed accounts inspires even less credibility.


Whatever we say about this broker, our biggest issue will still have to be their lack of regulation. Investing with such an entity means your funds are very likely to be at risk. We recommend trading with a well-regulated broker. To illustrate the benefits of doing so, we would like to present a few of the UK’s Financial Conduct Authority (FCA) rules for such companies.


>>Compare FCA brokers here<<


All FCA brokers must keep client funds segregated from their own. This means your deposit will go to a special bank account, which can’t be freely accessed. Furthermore, the company has to be in the Financial Services Compensation Scheme (FSCS). This system protects traders, if their broker goes under. Each client can file a claim for the size of their account, up to £50,000, if their trading partner declares insolvency.


Here is a recap of SwissCCI:

Pros Cons
A lot of assets covered Two unregulated companies
Decent charting Poor presentation
Accepts crypto-transfers Bonus offers, with a catch
  Offers managed accounts
  Spreads aren’t competitive

 

Latest news about SwissCCI
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Traders` reviews for SwissCCI

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Summary

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Cold calls

Keep getting cold calls to my mobile. Bulgarian's with poor English and stupid statements like we guarantee you make money". They have a script and you can't have an English conversation with them. I'm constantly blocking the calls ID but they spam their numbers from both London, Birmingham and other STD codes within the UK.

Someone should do something about these operators as they are clearly not acting in the financial interests of their "clients" (mugs!)

Giles Denney 03/18/2019

SwissCCI Is a scam

This broker is a scam, I had a bad experience with them and stole my money, they're thieves, they don t allow the pickup from the account and they don't respond to the e - mails... stay away from Michele Longo broker

Rosaria 07/13/2018
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