One of the positive things about this firm is that they declare the company’s details transparently, such as legal name (Online Windows LLC) and address in Saint Vincent and the Grenadines. At the same time, this is not something promising. We all know that many fraudsters are nested in that country.
But to determine if you can trust the broker or not, there are simple guidelines you have to follow. Therefore, make sure to read this unbiased SwissCoinCo review and find them all.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | N/A |
| Registered In: | Saint Vincent and the Grenadines |
| Operating Since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | 1:400 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos, forex, indices, shares, commodities |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Withdrawing funds from unregulated brokers has always been a mystery. But definitely, you can expect problems. If any problem occurs, don’t hesitate to contact our refund specialists immediately. |
Legal Info: Is SwissCoinCo Legit Or A Scam?
The major financial regulator in SVG is the Financial Services Authority (FSA). Whether you find it positive or negative, they decided to back out from providing Forex licenses. Consequently, companies registered there must get other regulations. Preferably in countries where they mainly operate.
Anyway, the best ones in the industry are FCA, BaFin, ASIC, and CFTC. However, this company is not one of those listed in the most prestigious regulatory databases. Once you understand that, you will realize that this firm doesn’t protect any of your funds.
Who Are SwissCoinCo’s Victims?
Besides SwissCoinCo reviews, there are other signs that this company is an absolute scam. One of those is that they offer services in countries where strict regulation is required, such as:
- Austria
- Switzerland
- Canada
- United Kingdom
- Germany
If you are coming from any of these, we strongly recommend you contact us for a refund consultation. Before that, make sure to leave a comment below and help other traders get a better picture of this broker.
Traders’ Reviews
Currently, there are only a few reviews about the SwissCoinCo platform. Fairly, the company was registered in 2023, so it’s expected. There are only nine comments on Trustpilot so far. But if we motivate traders to leave a comment when they have any experience, all traders would be protected from swindlers.
As can be seen, the company has trouble providing withdrawals and adequate support to customers. Yet, those are the two most important aspects when it comes to trading.
Leverage, Commissions, Spreads, Fees, and Taxes
The company’s poorly created offer shows that most of the trading conditions are hidden. This includes fees, spreads, and commissions. The only transparent things are swap discounts and leverage. But getting a 10% discount on insanely high commissions is not useful.
Anyway, the biggest issue with this broker is its leverage of 1:400 without negative balance protection. In the blink of an eye, the company can make you lose all of your funds and even get into debt. If that’s something you want, feel free to register with them. But if you want to trade securely and without unnecessary stress, make sure to note our tips.
Bonuses
Generally speaking, bonuses are the easiest way to rip traders off and prevent their withdrawals. Unfortunately, SwissCoinCo account types don’t reveal any bonus deals. Also, the company’s missing T&Cs can’t help us there either. So, if you get any bonus deals, make sure not to accept them.
SwissCoinCo Trading Features
All the brokers without regulations tend to offer shady platforms. Mostly web-based ones. The reason for that is that they advertise auto-trading software, trading signals, and similar quick-money schemes.
However, in reality, it’s all modified behind the scenes, and traders just think it’s all real. But to learn what features you can or can’t trust, read our AUSFOREX review.
Trading Platforms Available
Apparently, the company offers innovative features on its advanced platform. Yet, the reality is a bit different. The company’s platform is nothing more than web-based software, including limited features and basic trading functionalities. Such as charting customization, various timeframes, and pending orders.
Thus, social and copy trading or EAs are not available. Therefore, you better choose a top-tier licensed broker with cTrader or MetaTrader to avoid any surprises.
Available Trading Assets
Tradeable assets can be quite important when choosing an investment firm. Therefore, traders are exploring all the time, and diversifying their portfolios is always suggested.
However, if the company is not legit, all that becomes meaningless. Anyway, the company’s offer consists of:
- Forex – USD/NOK, EUR/SEK
- Indices – CAC40, ASX200
- Commodities – platinum, silver
- Shares – Microsoft, Meta
- Cryptos – BNB, ETH
Account Types
Generally, the company’s account types reveal that you need $10k to get started. However, the FAQ section reveals that SwissCoinCo’s minimum deposit requirement is $250. Note that this is 10 or 20 times more than the offer licensed brokers have.
In any case, you can choose between:
- Standard – 10.000€
- Advanced – 25.000€
- Platinum – 100.000€
- Expert – 250.000€
- VIP – 500.000€
Mobile Trading App
The company promotes its app as an award-winning. But that’s not something you can trust much. Primarily because they are not offering trusted mobile apps for iOS and Android users.
So, to avoid those discrepancies, we also suggest you read our How2Crypto review.
Demo Account
Account types list doesn’t include any demo accounts. However, the FAQ section reveals that this broker might indeed offer you a trial account. But without regulations, it might be just a trick to get your contact details, and once you register for a demo, you get harassed to make your first deposit.
Education
The only thing this broker offers when it comes to education is a session with their analyst. Sadly, that’s only available after you deposit at least 25.000€. This shows you they only care about your money and not your experience or success.
SwissCoinCo Withdrawal
Another mystery with this broker is the SwissCoinCo withdrawal procedure. Without transparent T&Cs and withdrawal policy, you can only imagine all the problems you can expect.
Firstly, the company is not transparent about the withdrawal procedure and processing time. They claim they process the request within a few days. Yet, it’s quite a non-precise explanation. Secondly, they don’t reveal withdrawal fees. So, you can expect a lot more manipulation there.
Customer Support
One of the biggest flaws of this broker is its poor customer support. There are only two ways to reach out to them. One is an e-mail, and the other one is a web contact form. Thus, without transparent working hours, none of those options grant quick response if you need it.
Key Information To Consider About SwissCoinCo
Practically, everything about this broker is suspicious. Primarily because of missing regulations and their offshore regulations. All in all, there are no guarantees you will get any of your funds back with the SwissCoinCo scam broker.
If that happens, you are not alone. Numerous traders went through the same. But the moment they realize they are getting scammed, they contact our refund specialists and get adequate guidance. We suggest the same for you. Keep in mind the first meeting is free. Book yours now!
FAQ Section
What is SwissCoinCo?
SwissCoinCo is an FX and CFD trading company based in Saint Vincent and Grenadines operating worldwide without regulations.
Is SwissCoinCo a Legit Broker?
SwissCoinCo is not a legit brokerage because they are not licensed by any regulatory body. Not to mention their shady conditions, platform, and negative reviews.
What is a Chargeback?
A chargeback is a reversal of a payment card transaction that occurs when a customer disputes a charge on their account. Contact us to apply for yours today!
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