To the question of whether you should trust SwissInvestment.io or not, which is THE question, we have the following review that elongates the answer, and details some much-needed obscurities, especially about the legal status of the broker and the trading conditions. Even so, we feel comfortable enough to assert that this broker is definitely not up to date, and is at best unregulated and forgotten. At its worst, it’s an active scam that keeps on taking without giving. The power to rush to such a seeming brash conclusion is one that we have acquired through hundreds of reviews. Trust us on this.
The ease with which we registered an account, entered a user’s area, and opened a web trader is a common symptom of the scammer broker. It took us no more than 20 seconds from the website to the full live trading account.
The EUR/USD cost of trade is at 0.1 pips, which would have been incredibly impressive were it not for the fact that this broker is not legitimate, and has somehow tampered with the bid/ask values to get the best out of it. We have seen other shady brokerages do this. There also exists the scenario where the broker has some hidden spread commissions.
The tradeable financial instruments are forex currency pairs, commodities, indices, cryptocurrencies, and stocks. We had a leverage cap at 1:200.
The website is available in English, Arabic, Chinese, Dutch, French, German, Italian, Portuguese, Russian, and Spanish.
SWISSINVESTMENT.IO REGULATION AND SAFETY OF FUNDS
Again with the fake Estonia governing laws claim. Out of all of the brokers who claim this, only 1% are actually regulated by the Estonian FX regulator. All other such assertions are misleading and false. If in factSwissInvestment.io is located in Estonia, it is operating there without a license.
Other than that, it seems that SwissInvestment.io is completely anonymous, which is a very big tell of the nature and status of the broker. Anonymous brokers are all unregulated and probable scams, and the only real way to find them is to either stumble upon them by complete accident or by getting contacted by them.
It matters not how one arrives at SwissInvestment.io. What remains is the fact that this broker is UNLICENSED and a risk to all investors.
Trading should be done only with risk-free brokers, and by that, we mean regulated brokers, for all brokers pose a certain risk. Regulated ones are those that warn users of the risks and are tightly overseen by the given overseer. Thus any lost funds result only because of the user’s poor judgement or because of the dynamic fluidity of the market.
We encourage users to trade with FCA or CySec regulated entities, or other European or US-based licensed brokers. These are very severe with their firms and demand of them a ton of requirements. Regulators strive to keep brokers in touch with the law!
Moreover, the FCA and CySEC offer financial reimbursement schemes to users of brokers under their gaze. This fund cover losses of users in times when the broker becomes insolvent.
SWISSINVESTMENT.IO TRADING SOFTWARE
We can’t remember if we have seen this trading software or not before, but we do have to say that it does feel unique for a web trader used by an unregulated broker.
The main features here are stop-loss, take-profit, pending orders, and some chart customization stuff, Everything is rather limited, and the only fresh thing here seems to be the look.
SWISSINVESTMENT.IO DEPOSIT/WITHDRAW METHODS AND FEES
Both the deposit and withdrawal areas in the client dashboard reveal nothing. In fact, they were not working.
According to the website, the minimum deposit is €250, and the payment methods are credit/debit cards, alternative payment methods, and bank transfers.
As for the withdrawals, this is what we learn from the legal docs. There is a $50 charge for bank transfers, and a $35 fee for credit and debit card withdrawals, and a $25 fee for withdrawals using alternative methods. Moreover, withdrawal requests take up to 5 days to process, while the minimum withdrawal for wire transfer is $250, and $100 for all other methods. Users must also be aware of the 200 turnover requirement that must be met prior to making a withdrawal.
We find the most notorious scammer clause by the name of the Non-Deposited Funds clause.
Through this provision, the user is blocked and cannot get his/her profit paid. Thus there is no incentive to invest and trade, making this broker 100% useless.
This scammer broker should not be invested in. Don’t bother with SwissInvestment.io!
How does the scam work?
The scams are very efficient and simple to follow for both the user and broker. At times, it may seem ludicrous to consider that one is in the middle of a scam! That is how effective they are!
Online ads that promise fast money, superb investment strategies, luxurious lifestyles, and beautiful sceneries, are all often a part of an investment scam. These advertisements are specifically tailored for more susceptible users. Clicking on them will redirect the person to either the website itself or an intermediary source.
It matters not where one ends up. Sooner or later the individual will be asked to provide a phone number or an email address.
Sooner or later, the unfortunate soul to have given these contact details away will start receiving emails or phone calls from the rep of the scam. The only and ultimate goal of these calls/email correspondences is to entail a preliminary deposit. This first investment is the client’s way into the scam, and after that, it will be much easier – for the user because his guard is down, and for the scammer, because he has gained the user’s trust – to bring about more deposits.
It all culminates to the point where the client wants to see results; he/she wishes to see some profit or withdraw his deposit and leave. A few things will happen. Either result will appear, completely fabricated by the fraudster, or the scammer will cut all communications with the user.
One thing is for certain. Users will not be able to withdraw! Typically, the broker will either cut all communication, quote its shady legal documents as a counter to all requests, shut down the user account, or even close the entire website!
What to do if scammed?
Immediately upon feeling suspicious file for a chargeback. Both VISA and MasterCard have extended their chargeback time span to 540 days.
Fraudsters can take out money from your bank account, and thus we encourage defrauded users to change their bank account name and password ASAP. And then users should contact the bank to set a plan of action with it.
Deposits made through any sort of cryptocurrency are for sure to be lost forever. That is why it is imperative to never invest in crypto.
So users will come across these self-proclaimed recovery agents, whose alleged job is to recover money lost to investment scams. All they ask is a service fee, which they will take and leave the user without a trace!
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