Despite purporting to be a decade-long successful business, Senior Wealth Partners’ website is just a few months old. The content on it is fraudulent, to say the least.
The fake testimonials could not help the poorly executed scheme either. It’s just as bad a fraud as FXMargine.com. Bear with us as we expose the digital con artist in our Senior Wealth Partners review.
| Regulated by: | Unregulated Scam Broker |
| Is This Company Safe? | No, this platform is unregulated |
| Known Websites: | swp-trading.com |
| Have Warnings from: | FINMA |
| Registered in: | Switzerland (allegedly) |
| Operating since: | 2023-10-25 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | 5,000 EUR |
| Welcome Bonus: | 10%-20% |
| Trading Assets: | Forex, Commodities, Stocks, Indices |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank or financial regulator, or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Senior Wealth Partners Regulated?
The website claims this business belongs to Capital Securities Group AG, based in Switzerland. A simple check of the Senior Wealth Partners broker on the website of the Swiss Financial Market Supervisory Authority (FINMA) debunked this lie.
According to FINMA’s warning, the platform is fraudulent and not a legitimate entity by the same name. Therefore, all funds you place on the platform can easily disappear.
We thus recommend you stick to regulated firms operating under the supervision of renowned financial market authorities such as the FCA (UK), ESMA (Europe), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.
Such companies are subject to stringent regulations and must offer clients negative balance protection, segregation of funds in top-tier banks, and, in some cases, compensation schemes.
Who Are Senior Wealth Partners’ Targets?
According to WHOIS, the Senior Wealth Partners website domain has existed since October 25, 2023, contrary to the firm’s claims of being founded in 2013. For nearly half a year, the phony broker has been targeting unwary traders from the following jurisdictions:
- United Kingdom;
- Canada;
- Sweden.
All these countries have tight regulatory laws in force for their respective markets. Their watchdogs oversee all market participants to prevent financial swindlers from conducting fraudulent schemes.
To reiterate FINMA’s alert, Senior Wealth Partners is not authorized to provide trading services in its alleged home country. Trading on this platform – operating unregulated just like TheWavesMines – is a terrible choice.
Trader Reviews – Sharing Experiences
This is where it gets tricky. The 121 Senior Wealth Partners reviews on trustpilot.com are mostly positive (4.4/5). However, we have reason to suspect that they are all fake, generically written around the same date.
Among the duplicitous comments, there are also honest complaints that emphasize the same point we are trying to get across – this platform is illicit!
User feedback is generally important. You should always read what traders and investors think about a certain company before risking any hard-earned money. Negative reviews are indicative of potential schemes.
Which Trading Platform Is Available?
The Senior Wealth Partners platform is a web interface that supports the trading of popular financial instruments Forex currency pairs, stocks, commodities, and indices.
Due to Senior Wealth Partners login irregularities, we could not check it out for ourselves. In general, browser-based terminals feature elementary tools such as charts and graphs but lack advanced tools.
The absence of desktop and mobile versions is a disadvantage. Moreover, the lack of regulatory oversight casts doubt on the platform’s operation. Hence, we suggest you choose licensed providers that offer recognized third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.
Senior Wealth Partners account types
| Account Type | Classic | Silver | Gold | VIP |
| Minimum Deposit | 5,000 EUR | 25,000 EUR | 50,000 EUR | Discuss with manager |
| Maximum Leverage | N/A | N/A | N/A | N/A |
| Spreads | N/A | N/A | N/A | N/A |
| Welcome Bonus | N/A | 20% | 20% | 20% |
Trading Info – Leverage, Spreads, Commissions
Senior Wealth Partners’ trading conditions are virtually unknown. The website has not specified how much leverage traders can use, the spreads between the bid/ask prices, and the commissions the broker charges per trading lot.
The con artist did, however, disclose welcome bonuses despite not being allowed in Europe. These pesky incentives do not come without a cost though. There’s a bonus policy stipulating that traders must generate a significant trading volume to be eligible for a withdrawal. You don’t want a clause like that in your contract.
Can Traders Use a Free Demo Account?
There is no risk-free demo account available on the website, which raises concerns. That’s a big red flag as most brokerage companies nowadays include a free account traders can use to practice their skills.
Once you feel you have mastered the basics of trading with virtual funds, you can switch to using real money. Just don’t forget to trust transparent firms.
Deposit and Withdrawal Process
The website listed several payment methods that can be used to make a deposit and withdraw profits free of charge:
- Credit/debit cards;
- Wire transfers;
- E-wallets.
Given the provider’s dubious background and regulatory warning, Senior Wealth Partners withdrawal issues seem likely. If you cannot pull out your funds from the account, there are ways to potentially recover funds.
For MasterCard or VISA credit/debit card payments, you can request a chargeback at the issuing bank within 120 days to get a refund. Wires transfers, on the other hand, are reversible but only if the money has not yet been transferred.
Key Facts To Consider About Senior Wealth Partners
Senior Wealth Partners is a group of anonymous thieves running a bogus website and shady platform. Despite claiming to be legit, this broker is blacklisted in Switzerland.
We do not recommend you trade on this platform due to its unregulated status. In case you have lost money to the Senior Wealth Partners scam, you must seek our professional help to recover your funds! A chargeback is your best option.
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your free consultation here and start the chargeback process.
FAQ Section
What is Senior Wealth Partners?
SWP is essentially a trading scam feeding off of fake reviews and targeting unsuspecting traders.
Is Senior Wealth Partners Legit?
No, this platform is not legit. There is no trace of this company in the Swiss business register.
How to Get Money Back From a Scam Broker?
Get in touch with Scam Brokers Reviews and explore potential refund options such as chargeback or recall.
Source:
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Started trading with this platform in EARLY March 2024 complete scam lost £28’000.00 can not get any thing back, they blocked my trading platform so I can not make withdrawal from my account.