SwisTrust: reviews and trading conditions. Real broker or scam?

Attention! Fraud company!

Leave a request for a refund from a scammer.

During the pandemic, online trading has become very popular. This is used by scammers who try to impersonate reliable brokers and rob investors to the penny. The fake office SwisTrust, whose creators are trying to clean the pockets of their victims, fell into our field of vision. How do scammers deceive users and what do they write about them in reviews? Read on.

Brief information about SwisTrust

Like all such scams, the hero of our review practically does not tell anything about himself. The site swistrust.com says that the creators of the project are specialists with many years of experience who managed trading operations in banks, hedge funds and investment companies. Why are people with such an impressive list of merit afraid to show their faces? It's simple: in fact, the sharashka office was created by scammers. They understand that the scam project will soon collect a pool of negative reviews and close, and law enforcement agencies will be interested in them.

There is no start date, but the site has published a list of awards that the scammers allegedly received. It is not clear who issued them. It is also not clear how SwisTrust could be recognized as the best broker in Europe if there are so many negative reviews written about it. In addition, we found out that the scam only appeared in August 2021, which means that it could not receive awards in 2018 and 2020.

Another point that proves that SwisTrust is a typical “kitchen” is the meager cost of its site. Reliable agents like "Alpari" or "OANDA" do not spare money and time for their sites, making them as convenient as possible. The scammers understand that there is no point in investing in a scam project that will sink within a couple of months.

The website footer says that SwisTrust is operated by Axent Tech LLC. This office is allegedly registered in Saint Vincent and the Grenadines, and the Central Bank of the Russian Federation has repeatedly warned that it is dangerous to deal with offshore companies. It really is in the local registry, but there should be information and the hero of our review, since the broker is an independent legal entity. However, the check showed that he was not there.

In addition, the address indicated in Saint Vincent and the Grenadines is painfully familiar to us: it is he who is prescribed by many sharashka offices, about which you can find a bunch of negative reviews on the Web.

From the contacts available e-mail, feedback form and two phones. In the reviews, users write that scammers call from these numbers.

The hero of our review does not have a license. He hides behind the fact that his activities are regulated by the SVG FSA, but this organization does not issue permits to brokers at all. I take into account the Russian localization of the site, SwisTrust focuses on our compatriots. According to Law No. 460-FZ, adopted in 2016, no financial intermediary has the right to provide services in Russia without obtaining a license from the Central Bank. The audit showed that he had never heard of the false broker.

Terms & Offers

First of all, experienced traders are interested in information about spreads, swaps and commissions for transactions. None of this is on the site: judging by the reviews, the scammers announce different numbers to investors. They lure new victims with such promises:

• access to 200+ financial instruments;
• assistance of a personal manager;
• the ability to trade from a computer, tablet and smartphone;
• quick withdrawal of funds;
• trading with advisors;
• leverage up to 1:400.

The last point indicates that no trading takes place on the platform. In Europe, the broker cannot leverage above 1:30. Fraudsters, playing on the desire of investors to make money, write unrealistic numbers, imitating trading.

There are three types of accounts: "Silver", "Gold" and "Platinum". The site does not even say how much you need to deposit to open each of them.

Scammers also offer bonuses to the account for everyone. Free cheese is only in a mousetrap, so it is logical that the user will not be able to withdraw money until he has worked it out. Judging by the reviews, SwisTrust simply does not allow you to do this.

What do ex-customers write in reviews?

There are no reviews about scammers in Runet yet, but there are enough of them on English-language sites. We are sure that breeders will soon start processing traders from our country, so be careful not to fall for their bait!

Translation: “This is a scam. All positive reviews on this website are fake. Their grammar and English is terrible. Don't give in to their entreaties. This is an unregulated broker (or just a criminal) who is located in the Caribbean and provides a British phone number.

Translation: “Warning! They scammed me and stole my money.”

Overview of the Divorce Scheme

Scammers focus on beginners who are just getting acquainted with Forex trading. Only they will not be embarrassed by the leverage of 1:400. Fraudsters persuade their victim to open an account and most often voice the minimum amount of $500. In the reviews, ex-clients write that managers offer to deposit 250, and the pseudo-broker will allegedly give them the same amount. Few are able to refuse this, so investors carry their capital to scammers.

Scammers imitate trading and “draw” a profit to the user. In fact, the money immediately settles in their pockets. When the user, satisfied with the “good” results, decides to withdraw them, problems begin. The charlatans claim that they have provided a loan that has already “run up” on interest. Without their payment, you cannot take your hard-earned money. After the investor repays the “debt”, they will begin to demand commissions from him. If you do not understand in time that you will not be able to return the funds, you can lose several thousand dollars.

Our verdict

Cooperation with SwisTrust will bring nothing but loss of time, nerves and money. Before us is a second-rate “kitchen”, the creators of which want to quickly get rich, not shunning anything. If you do not want to add to the list of victims, do not approach the fake office within a cannon shot!