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SwissGoldFX Broker Review
Even though the Swiss flag is the first thing you see when you access this company’s website, we can guarantee you that SwissGoldFX broker has nothing to do with Switzerland. It’s one of the notorious Bulgarian boiler rooms that you often read about in the news, in fact. Let’s go right into the SwissGoldFX review and look through all the information.
Broker status: Unregulated
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: No Info
Owned by: Advertising.R
Headquarters Country: Bulgaria
Foundation year: N/A
Supported Platforms: Web trader
Minimum Deposit: $250
Cryptocurrencies: Available
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: N/A
Free Demo Account: No
Accepts US clients: No
SwissGoldFX Regulations and Security
As previously noted, SwissGoldFX’s corporate headquarters are located in Ruse, Bulgaria. We have Advertising.R, a sole proprietorship established in August 2020, as the owner. However, as implied by the name, it is a marketing business. As a result, there are no restrictions on offering financial services. We looked through FSC Bulgaria, FCA, BaFin, and FINMA but couldn’t find any evidence of SwissGoldFX regulation. Because there is no regulation or compensation fund, keep in mind that if you deposit any money with this firm, you could not get your money back. In the event that you choose to begin investing, seek for a brokerage with a Tier1 license.
Fund Withdrawal Issues
As might be expected, many customers are having difficulties withdrawing money from SwissGoldFX. Withdrawal issues are always a given whenever we encounter a freshly founded platform in a nation like Bulgaria without a controlling authority. Clients who file withdrawal requests are allegedly urged to give up, and if they do not, they are just blacklisted, according to SwissGoldFX evaluations. How? They won’t ever have access to a trading account again, and they won’t ever see their money again. Naturally, there is no one to complain to.
Traders About SwissGoldFX Scam
After looking at what traders have to say, we are even more certain that SwissGoldFX is a well-known fraud. The broker demands a $250 minimum deposit up front, whereas licensed businesses let you to start with as little as $100. Additionally, there are no fundamental trading terms like leverage or spread, and the only platform available is a web trader.
Many customers are unhappy that the broker has access to all of their transactions and funds because the company is a proprietary trader.
How To Know If You Have Been Scammed Online?
When you entrust a brokerage with your money, a few things cannot ever occur. You can never be forced to make larger investments, face difficulties with withdrawals, or be deceived about the broker’s reliability. If you encounter any of these, be aware that the company you are working with is a scam.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.[/vc_column_text][/vc_column][/vc_row]
