Introduction to SwissFutureFX review:
No, SwissFutureFX has no relations with Switzerland.
Yes, SwissFutureFX is a potential scam.
There are certain parameters that you must keep in mind while researching for a broker to trade with. Even if you have apt knowledge about trading, scam brokers can still trick you into a debt trap with their psychological and technological skills. In order to prevent these brutal scams from happening to you, you need to follow just one simple step of following us. We publish broker reviews of the firms that are a potential scam and solve customer complaints by helping them claim their money back.
Who are they?
SwissFutureFX claims to be one of the most advanced brokerage firms in the market with worldwide recognition. Equipped with the latest trading technologies and advanced artificial intelligence, the company assures the best returns any customer can get in the industry. In between all of these boasts about itself, the company has also mentioned that they have three different offices in three parts of the world, namely, London, Zurich, and Frankfurt. How much of this is actually true? Let us find out.
Is SwissFutureFX regulated?
Despite having offices in three different countries, SwissFutureFX fails to get a license from any of the regulations around the world. When we searched their website for the license, we came over a statement issued by the brokerage firm itself stating that in order to operate in other countries, they need the local license. SwissFutureFX has tried to play clever here and put the traders into thinking that SwissFutureFX has a license when in reality it doesn’t. Therefore, SwissFutureFX is UNREGULATED. It is not safe for traders to trade or invest with unregulated brokers.
Has SwissFutureFX been blacklisted?
Comisión Nacional del Mercado de Valores, commonly referred to as CNMV, is the Spanish Financial Authority that looks after the safety of the citizens in the financial market. CNMV has issued a warning against SwissFutureFX stating that it is an unauthorized firm. The regulation further urged the citizens to stay away from this potential scam broker.
What is the minimum deposit demanded by SwissFutureFX?
SwissFutureFX demands a minimum deposit of $10000 from its customers to open the most basic trading account with their firm. You must note that even the legitimate brokers demand a minimum deposit of up to $100 for the best accounts that they offer. Most legitimate brokers start the minimum deposits to open an account from $5. This raises a red flag against the SwissFutureFX scam.
What’s the leverage offered by SwissFutureFX?
Due to its direct relation with the risk of losing the trade, several countries have capped the leverage at 1:30 and 1:50. The legitimate brokers also offer leverage in this range as well. In our case, SwissFutureFX offers leverage up to 1:300. This is clearly a huge number and therefore raises yet another red flag against the SwissFutureFX scam.
Conclusion: Is it a scam or legit?
To conclude, we can safely say that SwissFutureFX is a potential scam. We urge our readers to stay away from this unauthorized firm and invest their money with a regulated brokerage firm.
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