Swifty Finanex Review – Things you should know about this scam broker

Swifty Finanex Review

Swifty Finanex claims itself as one of the top FX and CFD providers in the globe, providing open and honest trading terms to all customers. They also state that they are based in the US, that would be wonderful news if it were true. If for some reason you are still thinking about joining their platform, you should read this Swifty Finanex review first.

Swifty Finanex is actually just another unregulated website that has any reputation, seems to be completely anonymous, and exhibits every single scam indicator possible

Regulation and Financial Security

Let’s focus on the main issue, though. SwiftyFinanex asserts that its headquarters are in the US, but this cannot be true given that the website is not listed in the records of the relevant regulatory bodies.

Keep in mind that the US market is one of the most firmly regulated in the world, and any currency trading and CFD brokerage authorized to operate there must hold valid licenses issued by the local CFTC and be regulated as an FCM and a FED, as well as be acknowledged as a member of the NFA.

Risks Of Using Unregulated Brokers

You run the risk of losing all of your money if you fall for a scam to open an account and fund it with an unlicensed broker, not because you made poor trading selections, but rather because you won’t be able to withdraw your funds.

Such firms are typically run by con artists and appear to be almost completely anonymous. Since they are well-hidden behind fictitious offshore firms, you have no prospect of finding the real owners of an offshore brokerage and taking them to court. To cut a long tale short, if your brokerage does not have a valid license from a recognized regulating body, you are almost probably about to become a victim of fraud.

Vicious Techniques Used By Offshore Brokers

Beginning with the fact that you cannot realistically expect to be able to withdraw a single dollar after being duped into putting your money with an unlicensed offshore broker. Scam websites like the one with which we are dealing are primarily concerned with that.

Withdrawal Requirements

The reasons for canceling your withdrawal requests could range from needing additional identification documents to complying with local AML laws, but the most frequent reason is being tricked into accepting a trading bonus after opening a trading account. Trading bonuses typically come with conditions and are created with the sole objective of rendering any withdrawal request from you nearly impossible.

Guarantee Of Profits

Again, this is a clear sign that you are interacting with con artists. If a website boasts or makes guarantees concerning returns, you are almost certainly about to be conned. Remember that investing with high leverage CFDs, as most firms provide, is anything from risk-free, and if a firm tries to lure you in with guarantees or irrational profits, you can be sure that you are dealing with con artists.

Trading Platform by Swifty Finanex

We firmly doubt that Swifty Finanex’s very simplistic web trader, which we were able to access, has received any awards despite the firm’s boasts that it offers an award-winning platform. Keep in mind that legitimate brokers typically provide competent platforms, such as the industry-standard MT4 and MT5.

MetaTrader 5 is used by hundreds of brokers, if not thousands, of banks worldwide to serve essentially millions of traders. MT5 is one of the most robust and user-friendly trading solutions available today.

Conditions for Swifty Finanex Trading

Spreads with the benchmark Euro/USD pair starting at 3.3 pip are scarcely enticing, and since we are already dealing with obvious scammers, you can also discover our list of brokers who actually offer tight spreads here.

The website claims that the maximum leverage is astonishing 1:5000, but since it is unlicensed and fully anonymous, it is not to be believed.

Conclusion

Swifty Finanex is a scam broker that tries to steal the funds of traders. You should double-check the firm’s reliability before creating an account with them.