Fxswiftrade Review: Is it Legit or a Scam?
This Fxswiftrade review will delve into the details of the company’s regulations and evaluate whether it is a legitimate platform or if it is simply another online trading scam.
Website: https://fxswiftrade.com/
Website Availability: Yes
Domain Age:
- Name FXSWIFTRADE.COM
- Registry Domain ID 2796450451_DOMAIN_COM-VRSN
- Registered On 2023-07-06T23:26:14Z
- Expires On 2025-07-06T23:26:14Z
- Updated On 2024-07-08T13:32:54Z
Overview
Fxswiftrade presents itself as a well-regulated and trustworthy platform for forex and other trading services. However, their website’s claims about regulation raise significant concerns. The platform asserts that it is subject to various regulatory authorities, but closer scrutiny reveals discrepancies and confusion in their stated regulatory status. This is a key factor that potential investors need to understand before making any decisions.
Is Fxswiftrade Legit or a Scam?
Despite claiming to be under the oversight of multiple regulatory bodies, Fxswiftrade’s website contains a confusing regulatory description. The company’s claims about regulatory adherence appear dubious, with many of the supposed authorities listed not matching the regulatory bodies they claim to be registered with. Upon investigation, none of the major financial regulatory organizations such as the National Futures Association (NFA), European Securities and Markets Authority (ESMA), or the Federal Financial Supervisory Authority (BaFin) showed any evidence of Fxswiftrade’s registration.
One of the most concerning issues is that the company cites the Financial Conduct Authority (FCA), but the company name and domain listed in the FCA records differ from fxswiftrade.com. This suggests that Fxswiftrade has used someone else’s details to falsely imply legitimacy. To add to the problem, the FCA number it used has been canceled, further proving the platform’s misleading claims.
Furthermore, the Malta Financial Services Authority (MFSA) has issued a warning against Fxswiftrade, stating that the platform is a clone of a legitimate firm authorized by the MFSA. This is a strong indication that Fxswiftrade is a fraudulent entity aiming to deceive investors by pretending to be regulated.
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