Swiss-Trade.co Review – Frauds Shut Down By Regulatory Action
Swiss-Trade.co Review – Frauds Shut Down By Regulatory Action

This template built platform is just one of many similar sites that have been created with a singular purpose – theft. People running the Swiss-Trade.co scam are using every devious method they can to achieve this goal.The site is poorly made, and riddled with false promises and deceptive advertising. Find out how to best recognise online fraudsters in our Swiss-Trade.co review.

Regulated by:

Unregulated

Is This Company Safe?

No, never invest with unlicensed firms!

Known Websites:

Swiss-trade.co (inactive)

Have Warnings from:

FCA, CONSOB

Registered in:

UK (allegedly)

Operating since:

2023

Trading Platforms:

Web Trader

Maximum Leverage:

1:500

Minimum Deposit:

€5,000

Deposit Bonus:

Up to 100%

Trading Assets:

Forex, Cryptocurrencies, Shares, Indices, Commodities

Free Demo Account:

No

How to  Withdraw from This Company?

Contact our specialist team for help with financial reimbursement.

Gaining Attention From Authorities

The website was shut down some time in late 2023 since it gained attention from the authorities. So far, two important financial regulators from Europe have posted Swiss-Trade warnings on their websites. These include the UK FCA and the Italian CONSOB.

Both of these jurisdictions are considered to be Tier-1, and the company found itself on these blacklists due to the predatory action against their clients. These include false advertising and deception for financial gain.

Is Swiss Trade regulated?

No, which is exactly why this website & platform are dishonest and risky. The address we found on the website implies that Swiss Trade is based in the UK.

In that country, the Financial Conduct Authority (FCA) is the name of the body that regulates the financial market and all of its entities. UK-based brokers are required to possess a minimum operating capital of 730,000 GBP, provide clients with negative balance protection, segregated funds, leverage restriction (1:30), and a compensation scheme (up to 85,000 GBP).

We thus checked the website of the (FCA) but did not find anything regarding Swiss Trade. So this financial swindler is basically doing business illegally. You can forget about all the above-mentioned perks if you decide to invest.

Swiss Trade does not have any trading license whatsoever, which is why you must avoid this broker and the like RoboInvest at all costs.

Where Does the Broker Find Victims?

According to our sources and other Swiss Trade reviews, this broker was mainly active in three domains. Residents of the following countries were Swiss Trade’s clients:

  • Germany;
  • Chile;
  • Colombia.

Needless to say, Swiss Trade has no authorization to provide services in any of these countries but the crooked broker does so anyway. The website is Swiss Trade’s main communication tool, as well as a phone number and email.

Fake Reviews Still Holding Up

This broker still has a good trust score on various ratings platforms like Reviews.io, due to a large amount of paid online content that obscures the real picture. The truth is starting to surface, however, with TrustPilot warning their readers that the firm has received regulatory action.

While there were no further official regulatory warnings at the time of writing this article, the public became aware of the company’s fraudulent actions. Numerous independent websites have included the firm on their own blacklists, with this Reddit board being one such example.

Mastering Trading Essentials with Swiss Trade

When it comes to key trading elements such as the maximum leverage, spreads and commissions charged per lot, Swiss Trade missed the mark big time.

The unscrupulous broker promises a leverage of up to 1:500, which is not in line with what the FCA allows for retail clients in the UK (1:30). However, the trading platform displays a level of 1:10 for FX pairs.

Next up, the spreads. Swiss Trade promises variable spreads from 1.5 pips for the first three account types. But when we accessed the trading platform to see the spread for the EUR/USD benchmark pair – it was 0 pips. 

Too good to be true? Either the Gold/VIP accounts are active or the platform is rigged! Either way, it shows that Swiss Trade cannot be trusted. There are no commissions, allegedly.

Bonus offers

Swiss Trade also offers bonuses. Depending on the account type, the deposit bonus ranges from 30% up to 100%. Bonuses are bad news (banned in the UK).

Scammers usually award lucrative bonuses but with strings attached. Namely, the Terms of Conditions of shady websites always have a shady bonus clause that requires traders to achieve an insane trading volume using the bonus before being eligible to withdraw funds.

In this case, Swiss Trade does not even have any legal documentation whatsoever so a hidden clause could appear out of nowhere. If this happens and you end up stuck, you can always contact us for help.

Swiss Trade Trading Platform

Swiss Trade’s trading platform is web-based. We got to see the online terminal but not actually trade as this was not a demo account. First impressions were substandard. 

The WebTrader only offers basic charts and graphs, nothing else. There are no advanced tools such as automated trading, live market reports or a customizable interface. It is a huge disadvantage right from the start. Swiss Trade does not support proper third-party trading software such as MT4, MT5, cTrader, or SiriX.

Available Trading Assets

According to Swiss Trade’s website, the broker offers the following trading assets:

  • Forex currency pairs – EUR/USD, GBP/CAD, AUD/NZD…
  • Indices – S&P 500, FTSE 100…
  • Commodities – gold, crude oil, silver…
  • Shares – Eni, Google, Microsoft…
  • Crypto – BTC, ETH, XPR, LTC…

Account Types

Swiss Trade offers five different trading account types:

  • Standard – 5,000 EUR;
  • Bronze – 25,000 EUR;
  • Silver – 100,000 EUR;
  • Gold – 250,000 EUR;
  • VIP – 1,000,000 EUR.

As you can see, these accounts are pretty costly. Having to pay 5,000 EUR just to start trading is simply too much. Especially given Swiss Trade’s unregulated status. There are plenty of licensed brokers that offer a Micro account for just 10 EUR.

What About a Mobile Trading App?

The website suggests that there is some kind of mobile app available. We say that based on the images of phones with open platforms. 

But since Swiss Trade’s platform is web-based, it does not really need a mobile app. App or not, it doesn’t change the fact that Swiss Trade has no license.

Is There a Risk-Free Demo Account?

Swiss Trade claims that all accounts have a demo version. However, it is highly unlikely. Even if there is a demo account, you cannot trust Swiss Trade regarding the live version. 

Without a free demo account, you have to open a live account “blidnly” and risk losing your huge deposit. Legitimate brokers, aside from having a license, also offer risk-free demo accounts. 

Swiss Trade Withdrawal Practices

To reiterate, Swiss Trade has no legal documentation. The deposit and withdrawal policies are missing. As for the payment methods, Swiss Trade listed the following:

  • Credit/debit cards;
  • Wire transfers;
  • Bitcoin.

Here is another discrepancy we found – the Standard account costs a minimum of 5,000 EUR while in the FAQ section, Swiss Trade says that clients need just 250 $ to get started. Which statement is true, nobody knows but from our experience, scammers take what they can get.

Customer Support

Traders can get in touch with Swiss Trade via Contact Us page. The broker promises the “best possible customer experience to our valued clients.”

It could be a foul trap though. Swiss Trade will act all nicely until traders make a deposit, after which the scammer will reveal the true face. Therefore, beware.

Essential Insights Into Swiss-Trade.co: Key Information To Consider

To sum up, Swiss Trade is shady. The “positive” reviews of this broker may very well be fake. Whatever the case, one thing is certain – Swiss Trade has no trading license and is not a trustworthy platform. Do not invest in Swiss Trade!

If you are a victim of the Swiss Trade scam, we can help you get your money back. Consider filing a chargeback if you have deposited funds via credit/debit cards. This procedure can be requested at the issuing bank within 540 days. Our team can also trace crypto transactions using advanced software such as CipherTrace.

If you need help with chargebacks, book a free consultation with our chargeback specialists who will help you to regain your money.

Is Swiss-Trade.co a Scam Broker?

We believe so. Swiss Trade has no trading license and is not registered with any financial market authority.

Does Swiss Trade Offer a Demo Account?

Swiss Trade promises a free demo account, per the FAQ section on the website. Regardless, you shouldn’t open a live account.

Does Swiss Trade Give a Deposit Bonus When Opening an Account?

Yes. Swiss Trade offers a deposit bonus that ranges from 30% to 100% depending on the account type.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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