Swapsimple Review – Common Tricks You Must Avoid With This Exchange
Swapsimple Review – Common Tricks You Must Avoid With This Exchange

With a registered address in the US, it’s hardly believable that the company would not operate genuinely. However, the more you research Swapsimple.io Finance LLP, the more issues you will find.

Since the crypto world is still not fully regulated, it’s very important to understand all its flaws. Luckily, this honest Swapsimple review has you covered.

Regulated By: No regulations
Is This Company Safe? No
Known Websites: https://swapsimple.io/
Have Warnings From: N/A
Registered In: N/A
Operating Since: 2024
Trading Platforms: WebTrader
Maximum Leverage: 1:10
Minimum Deposit: $250
Deposit Bonus: Not available
Trading Assets: Cryptos
Free Demo Account: Not Available
How To  Withdraw From This Company? Withdrawing funds from an unregulated crypto exchange is close to impossible. We strongly advise you to only work with licensed firms. In case you have funds stuck with any crypto trading firm, contact us for refund advice as soon as possible.

Legal Info: Is Swapsimple Legit Or A Scam?

For quite a long time, the crypto trading world was completely unregulated. Therefore, many traders became victims of such an uncontrolled environment. Luckily, nowadays, top-tier exchanges are regulated by top-tier authorities, such as the SEC, AMF, ASIC, and so on. Sadly, with Swapsimple, that’s not the case.

Even though the company was registered in the US, they don’t have any authorization to operate there. Consequently, none of the company’s features can be 100% trusted. Especially after all the negative Swapsimple reviews.

Who Are Swapsimple’s Victims?

If you check our FutureProfit and EuroInvestec reviews, you will realize that all companies have one thing in common: They are targeting, in most cases, wealthy countries. In the case of Swapsimple exchange, most of the users come from: 

  • United States
  • Canada

Sadly, only a few months have passed since registration, and comments about being a scam are already piling up. Therefore, you better prepare yourself for a refund. You will most likely need it. But also you can leave the hard work to our experts.

Traders Reviews

Whether you look at the comments on Trustpilot or Reddit, the overall feeling about the company is the same. Many traders reported issues and the critical one is regarding non-existent withdrawal fees. Fairly, it’s a common trick used by suspicious and unregulated companies.

Just make sure not to pay any of those. In either case, your withdrawals won’t be approved. If that happens, feel free to contact our refund experts for assistance right away.

Leverage, Commissions, Spreads, Fees and Taxes

Even though the Swapsimple app reveals transparent fees, you can see from reviews that that won’t be all. In any case, regular users can expect 0.2% fixed maker and taker fees, while premium users can get 0.14%. Honestly, these can’t be compared to the ones offered by top-tier licensed platforms.

Nevertheless, if you opt for margin trading, you can expect a bit higher leverage than usual. With highly volatile cryptos, a leverage of 1:10 can be quite deadly for your balance.


Another surprising detail about this exchange is the welcome bonus offer. It exists, but conditions and credited amounts are not revealed. Therefore, you have more than enough signs to be worried.

Swapsimple Trading Features

When it comes to regular crypto buying and selling features, the company guides you to third-party providers. Those are Transak and Ramp. Generally, they are not very popular exchanges, but they appear to be trusted. 

Sadly, before you complete the Swapsimple login process, you can’t find any details about spot and margin trading features.

Trading Platforms Available

Without desktop apps available, it looks like the company only offers a web trader for spot and margin trading. This is surely not the most convenient method. All in all, you’ll have to register first before you can test the platform.

Available Trading Assets

The company generally offers more than 100 crypto trading pairs and a wide range of cryptos through partner exchanges. Some of the available pairs are: 

  • ICP/USDT and many more.

Account Types

The company offers standard account types and Premium accounts. However, the benefits of the Premium account are not disclosed anywhere, and the company did not reveal the requirements for accessing it. 

However, the T&Cs briefly mention a 3.5% commission for tax payments and a 5% commission for insurance of the Premium account—whatever that means.

Mobile Trading App

A huge disadvantage of the Swapsimple crypto trading platform is the absence of trusted mobile apps. Especially since web-based platforms are often unoptimized and offer quite poor security. Fairly, that’s another sign to stick with licensed firms.

Demo Account

Since the company offers leveraged trading and doesn’t reveal any details about its platform, a demo account is more than necessary. Sadly, that’s not included in the company’s offer.


To avoid any potential traps in the cryptocurrency world, getting a proper education first is highly recommended. However, education from unregulated companies won’t help you much. On top of all that, you won’t have any with Swapsimple.

Swapsimple Withdrawal

Generally speaking, without a transparent withdrawal policy and fees, it’s hardly believable any Swapsimple withdrawal request will be completed. After all, those negative reviews are not piling up without a reason.

All in all, if you get any unusual requests, you better talk to professionals before completing the task. Some of those might sound legit, but in the end, it just delays the process. Primarily verification of your account and non-existent fees that the company requires traders to pay.

Customer Support

Since the company claims to have support available 24/7, you should have assistance whenever you need them. 

However, a few traders reported issues with that as well. So, don’t raise much hope around it. You can submit a ticket or contact them via live chat. Yet, it appears the live chat is only available for registered users.

Key Information To Consider About Swapsimple

After this Swapsimple review it will be clear why you can find so many negative comments about this exchange. They operate without any licenses and on top of that without full transparency. So, you can’t expect anything positive out of that.

Luckily, our refund experts have you covered. In case of any irregularity, you can contact us and book a free first meeting. Find out if there’s a reason to be worried and if you should refund your money immediately.

FAQ Section

What is Swapsimple?

Swapsimple is a shady crypto exchange that also offers spot and margin trading without any regulations.

Is Swapsimple Legit?

No. Swapsimple company is not authorized by any trusted regulator to provide Digital Asset Services.

Can I Track and Trace Lost Crypto?

Indeed, yes. With CipherTrace tool you can find your lost or stolen cryptos. For more details, book a free meeting with our refund consultants.


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