Fx Swift Exchange Review – Is it a Hustle?

The landscape of online investing is ever-changing and due to the high demand it gets, people always have to be very careful about the firms they indulge with. Fx Swift Exchange (Fxswiftexchange.com) claims to be a brokerage firm that offers a lot of hot trading instruments along with the opportunity to get involved with Bitcoin mining.

The data available about this platform is scarce, but its traits are notorious, to say the least. There are a few unconfirmed negative testimonials about them floating on the internet and at the end of the day, there just isn’t any clarity about them yet. Their platform looks a bit old-fashioned, but there are a lot of areas they have not expressed in the correct manner and the flaws are unjustifiable.

They claim to be active in the industry since 1999 and they are supposedly associated with Gain Capital Holdings. Though the names involved might convince the majority of the crowd, you need to know that the connection between them is questionable, to say the least.

During our investigation, we did find a lot of confusing data on their platform and as far as reliability goes, they certainly do not pique our interest in any way. We understand that many people are sitting on the fence about them. So, to clear all your doubts and get clear answers to most of the common questions, stick with us till the end.

Confusing Legal Data and Background

The legal certificates are something that all brokers feature on their website in order to show to the public that they are reliable and have all the permissions necessary to carry out their activities lawfully. If any firm is giving you investment advice, but for some reason is not revealing their license details, then it is a telltale sign that it might be a scam. Most offshore entities just feature the information about their incorporation certificate and try to portray them as regulated entities.

So, to safeguard your capital, you always need to verify the information that is shown to you, or else down the road, it will become a big hassle. This platform shows a lot of details about the firms they are involved with and they claim to be regulated in different regions. Note that they call themselves the brand name of Gain Capital Holdings which is a legitimate organization. However, once you take a look at the databases of the bodies they have mentioned, there is no evidence to link them together.

Clearly, legality is not their strongest suit and as such, no retail investor should even consider giving them access to their funds. To fan the flames further, know that there is no creator’s or founders information and that is an age-old trick used by most fake investment firms. Due to the very details mentioned above, it is better to never proceed with them regardless of the offers they might entice you with.

Fx Swift Exchange Activities

The number of sectors this firm is really indulged in is unknown, but they do showcase all the hot sectors of the financial realm on their website. Some of the activities featured by them might be appealing, but keep in mind that there are no guarantees being made by them. Moreover, the evidence is always either manipulative or missing. 

Crypto Mining – This firm talks a lot about Bitcoin mining in specific, but the details aren’t encouraging enough for any experienced investors. For starters, the equipment they have on their farms and the location are hidden from the public.

The cost rundown is not provided. There are no profit calculators to know the break-even points on the capital. Ultimately, the hedging strategies used by them are also not shown. On what basis can we trust them with our money? 

Forex – The data about the available forex pairs is not available unless you sign up with them and for obvious reasons, we weren’t daring enough to trust them with our information.

The spreads are unknown, the swap rates are not revealed and the conditions regarding the contracts aren’t specified either. Also, we do not know whether they are an ECN broker or a market maker. In simple words, their business model is not transparent, and investing with them would be just like playing with fire. 

Cryptocurrencies – In this segment too, the data is minuscule, and any day trader would find the environment to be a lot more stressful. The fee structure is not explained anywhere and the information on the asset management services along with trading signals is also not clear.

There is nothing that increases consumer confidence on their platform and that is a deadly approach to dealing with the markets. After all, who wants to associate themselves with a broker that does not let you know the conditions associated with instruments beforehand?

Investment Opportunities

There are 3 investment packages offered by them. Each and every account has something unique to offer and the capital required to get started with Fx Swift Exchange is around $1,000 to $5,000. Without a doubt, the initial seed amount is high compared to the regulated brokers and one has to have a strong reason to justify depositing that kind of money. The concept of risk-free trades is unclear and we have no idea about the things to expect.

Moving on to the educational aspect, they do claim to offer training programs. Note that due to no user feedback, we cannot comment anything about the quality of the training provided by them. We will explain the deposit bonus schemes later in the report, but for now, know that the terms associated with the extra money are not as good as you may think.

The big mysterious thing about this firm is the reading signals narrative. According to the testimonials shown by them, the performance of their signals is amazing, but no rational person would buy their story. There is no trading history shared by them. Moreover, the strategies they employ are also a huge question mark. With so many missing pieces in the puzzle, are you still willing to give them the benefit of the doubt? 

Deposit Bonus

Depending upon your capital amount, this brokerage does offer you an option of choosing a matching deposit bonus. In the past, way too many brokers have used bonus offers to trick retail investors and compel them legally to stick around for longer. As the conflict of interest will always be present in the markets, it is better to always say no to anything that is sold to you as free because it will always contain a catch.

10% to 20% is the range of bonus amounts provided by them. It is undeniable that every beginner trader loves the concept of trading bonuses as it allows them to aim for higher trade size and profits. However, you need to understand that it will always tangle you with ridiculous terms and conditions that will make the withdrawal process a nightmare.

So, think twice before accepting any kind of reward and if you do not understand the requirements, then it is always better to walk away from the deal.

Fx Swift Exchange Agendas

The agendas of Fx Swift Exchange are very hard to understand. For starters, we have no clue about the way they generate cash to sustain their model. The conditions associated with any of the trading pairs they offer are mysterious. The names of the people involved with the management side are unknown. More importantly, note that even the fund manager or so-called expert broker’s details are unverifiable.

If their trading capabilities are really that good, then why are they offering their services to retail clients for free instead of making billions of dollars for themselves? Everything about them is strange, to say the least, and as far as the legality of the operations goes, they are bound to face a lot of heat from the authorities. If you have lost money to them, then get in touch with us for a free consultation.

It does not matter which kind of payment method you used, we will do all the forensic work for you and share with you the actual details of the culprits along with the ways of getting your money back. Many people might be familiar with the chargeback process, but there are certain scenarios wherein they won’t come to the rescue. So, for quick results, it is always better to let professionals deal with the formalities and processes involved. 

Fx Swift Exchange Testimonials

Testimonials are perhaps the age-old way of gauging the reputation of a company. The world may be going digital at an accelerated speed. However, there are a few fundamental human constructs that just cannot be changed quickly. One of the main drivers of success in the field of online-based business is the trust score. If the customers believe in a company, they will not only invest more but also do the word of mouth marketing for them.

To boost consumer confidence, this website does showcase a few comments on its homepage. Just like we anticipated, all of the feedback they have featured is positive, but unlike the legitimate businesses, they haven’t provided an easy way to verify the identity of the clients. We did run a search on them on all of the well-known forums and social media platforms. Needless to say, the results did not match the narratives this firm is peddling and that is the sad reality.

It is common to feel inspired whenever you see someone making money through trading. Nevertheless, it does not mean that it is a digital lottery that is going to make everyone rich. Simply put, get educated about the markets before opening a trading account and never start the venture without having specific goals.

While it is possible to make huge returns in a short time in trading, there will be a lot of ups and downs in the process. Lastly, do not forget to consult a licensed financial adviser for the best results. 

Verdict

Fx Swift Exchange is a platform that pretends to be some sort of upscale brokerage firm. Sadly, they are nothing more than a well-designed hustle that will attract the newbies in the sector. Though there isn’t any feedback from the customer base yet, we can be sure that it will appear in the near future. The financial world offers enough opportunities every day to make decent returns.

However, to make the best out of the volatility, an individual needs to have a certain skill set. Trading signals or other forms of trading tools might help you, but the consistency factor won’t be present for long. If you are interested in trading, then ignore all the exaggerated and fancy platforms like this one and focus on getting real education from actual traders preferably with long verifiable track records. 

Update (October 27, 2022): We received the following complaint:

I got in touch with @paid_with_patricia on Instagram ego said I could get €10000 by making a payment of €500. She asked me for more money shortly after that, because “the company” said that the amount was insufficient and it had to be €2500. But the outcome would be even more and I would get €25000 if I would pay. Naive and gullible as I am I paid all I had left, which made €2200 and I still don’t have the €25000. Because now I even have to pay €200 more to get the money… I’m sick an tired of it and I feel stupid did I fell for this scam… I used an app called Shapeshift to make the payments to a “broker Wallet” on morefxway.com and now she uses the site fxswiftexchange.com. […] PS: this was the address of the wallet: bc1qxnjv6rqqzxc6kglyasljmwupwrlv5n5uqkyuk0

It appears that scammers use fxswiftexchange to defraud investors, so be wary of this type of scam and never believe anyone on social media or elsewhere offering you to make money by sending them your money.

How did you find your way to Fxswiftexchange.com? Share your answer below!