Swiss Trade Review – Is Investing in Swiss Trade Safe?
About Swiss Trade
Swiss Trade is a brokerage company that operates online and purports to provide investment financial services. There are several issues with its legitimacy, though. In this Swiss Trade Review, we examine the warnings from the financial regulators and what dangers lie with this site.
Company Name – Swiss Trade
Swiss Trade Website – www.swiss-trade.co
Address – 50 Stratton St, London, UNITED KINGDOM
Regulatory Warning – Financial Conduct Authority (United Kingdom) AND Financial Market Authority (Austria)
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
Regulatory Warnings
On the 22nd of June, 2023, the Financial Conduct Authority (FCA) of the UK issued a warning about Swiss Trade, claiming that the broker could be operating financial services without approval. Furthermore, the Financial Market Authority (FMA) of Austria has also marked this broker as suspicious. The lack of regulatory adherence is a significant red flag for investors.
Lack of Transparency
One of the key concerns raised in this Swiss Trade Review is the broker’s inability to provide regulatory and licensing details. Genuine brokers always show accreditation to establish credibility. Swiss Trade, however, is not transparent in this regard, and it is hard to establish its authenticity. The firm offers a UK address to look legitimate, but it is not authorized by the FCA as needed.
Website and Negative Reviews
Another concern is that Swiss Trade’s website (http://www.swiss-trade.co/) is not functional, which raises doubts about its operations. Additionally, many negative reviews have surfaced online, indicating poor customer experiences and potential fraudulent activities.
Swiss Trade seems to be a very risky broker based on regulatory warnings, transparency issues, and negative reviews. This Swiss Trade Review highly recommends avoiding this platform and opting for regulated brokers for safe investments.
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How to Stay Safe?
- Research any investment platform thoroughly before depositing funds.
- Check the licensing at the official regulatory website.
- Watch out for websites offering high returns without any risk involved.
- Do not share sensitive personal or banking details with unverified entities.
- Report fraud cases promptly to financial authorities in case the suspect fraud happens.
What to Do If You Suspect a Scam?
Take the following steps if you have been scammed by Swiss Trade:
- Contact Your Bank or Payment Service Provider: If you used a credit card or any other banking method to pay, then you can make a chargeback at the bank or the service provider.
- Collect Your Evidence: Keep all the records including transaction details, emails, and any form of communication you had with the platform.
- Report the Incident: Contact your country’s financial regulatory department and law enforcement.
- Get Expert Help: Professionals of Scams Report can help trace the stolen funds and further discuss recovery options.
Fill out the form above to connect with experts. Act fast—time matters when recovering funds.
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Note: The information provided in the above Swiss Trade review is derived from existing web swiss-trade.co reviews. Please be aware that we cannot be held liable for any legal action taken by Swiss Trade company. If you have any inquiries or concerns, kindly reach out to us via email at admin@scamsreport.net.
