WikiFX Fraud Alert: FCA Warns Against SWIFTFXTRADE!!!

Investors who are still trading forex at SWIFTFXTRADE had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

To start with the most essential, you may check the recent warning issued on November 11thby the Financial Conduct Authority (FCA) in the UK against SWIFTFXTRADE (https://swiftfxtrade.info/) on the screenshot below.

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized or registered by us”, the FCA says adding that “this firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.”

WikiFX also paid a visit to the broker's official website to learn more. SWIFTFXTRADE claims it is licensed and regulated across Europe, the Middle East and Asia, which is obviously a lie given the FCA warning shown above.

And the broker also wants you to believe operates from the following address:

Bear in mind that if “the broker” was truly based in the U.S. it should have also been accepted as a member of the National Futures Association (NFA). And SWIFTFXTRADE is clearly not regulated there either – WikiFX made the effort and checked the NFA registers but in vain, no company or broker by the name of“SWIFTFXTRADE” was listed there.

Furthermore, the trading risks are high as leverage can reach 1:500, a ratio with significant profit potential but its very dangerous, at the same time. The problem here is that the British regulator FCA does not allow more than 1:30, so with or without warning, we can tell that SWIFTFXTRADE does not comply with regulation, which suggests that the brokerage is a scam!

In a nutshell, trusting a broker like SWIFTFXTRADE is simply not worth it – you will certainly end up robbed. The so-called brokerage is nothing more than an outright scam, which is in the spotlight of a recent investigation by the British financial authorities, who have already blacklisted the website for targeting UK customers without proper authorization.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!