Markets Swiss Review – 5 things you should know about marketsswiss.com

Markets Swiss Review – 5 things you should know about marketsswiss.com

Beware! Markets Swiss is an offshore broker! Your investment may be at risk.

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Markets Swiss is forex company trading in forex, indices, commodities and stocks. We are looking at some key features to see whether it is safe to trade with this forex broker.

Markets Swiss Regulation and safety of funds

Markets Swiss has an address in Switzerland and claims on its site to be registered and regulated by the Cyprus Securities and Exchange Commission (CySEC). However, this claim is nothing but a lie trying to dupe people into thinking that this broker is licensed. As you can see from the screenshot below, CySEC has already issued a warning about brokers’ website that are not authorised by CySEC, including the website of Markets Swiss which means that this broker is not licensed and you are well advised not to invest your funds or engage in any trading activities as you are at risk of losing your money.

 

 

Unfortunately, there are a lot of scammers like this one out there in the sea of forex brokers. To navigate successfully these turbulent waters called forex trading, we advise you to select one of the licensed brokers from the well-established jurisdictions of EU and UK. Only such legitimate brokers can give you a guarantee for the safety of your funds and can provide you with compensation in case the company goes bankrupt. How does it work? First of all, to get licensed, forex brokers from EU and UK must provide an initial capital of no less than 730,000 EUR  and also make contributions to compensation funds from which, in case of bankruptcy, clients will be compensated by up to 20,000 EUR per person if the broker is regulated by CySEC or 85,000 GBP per person if the broker is regulated by FCA. As you can see, these are excellent conditions and you will be well advised to benefit from them for your own safety of funds and peace of mind.

Markets Swiss Trading software

To its clients, Markets Swiss offers two types of trading platforms – a web trader and MetaTrader 4. At the time of writing this review, however, downloading any of the platforms was not possible. For the webtrader we received a warning not to downloaded as it presented danger to the PC software. The MetaTrader for Markets Swiss was also not possible to open, as the broker did not send login details.

However, we want to mention here that MetaTrader 4 is considered one of the best trading platforms in the forex world. Despite its ‘old’ age, as it was launched 15 years ago, it is still number one choice of the majority of the forex brokers. Its high reputation is fully justifiable, as MT4 offers a lot of excellent trading tools and instruments, such as a financial calendar, VPS, an app market, auto trading option, trading signals (for a subscription fee), code base with customs scripts, as well as many charting options that help traders analyse and predict the future direction of exchange rates and thus make a profit.

Nevertheless, an excellent platform comes only secondary to the legitimacy of the broker and if the broker is not licensed, it does not matter in the end what platform it offers.

While looking at the account information, we noticed that the leverage offered by this broker is very high – from 1:200 to 1:500. High leverage signifies only 2 things – a big win or a big loss. Given in mind the high percentage of traders who lose money in forex transactions, the scales lean toward financial loss rather than financial profit. Please avoid brokers that offer such high leverage as it presents huge risks should you choose to trade. Also, remember that not by chance brokers in EU  have a leverage cap of 1:30 and in US, a leverage cap of 1:50. It is done to prevent traders from taking risks with their hard-earned money!

Markets Swiss Deposit/Withdrawal methods and fees

Markets Swiss offers 4 different account types to its clients – Beginner, Intermediate, Professional and VIP. The minimum initial deposit for the Beginner account is 100 EUR and for the consecutive accounts, it starts at , 10,000 EUR, 50,000 EUR and 100,000 EUR respectively.

To make a deposit or withdrawal, clients can choose between VISA, MasterCard, Sofort, Sepa and Bitcoin. As per the company’s information, processing time is immediate, except for those clients using SEPA.

We have noticed that each type of account offers bonuses, starting from 50% in the Beginner account and going as high as 200% in the VIP account. However, when we researched the company’s website and tried to find out what the conditions for the bonuses are, we discovered that there is no such information. In fact, there is no Terms and Conditions document on this company’s website! We want to warn our readers that bonuses are first of all, offered only by scammers and second, they come with heavy to fulfil conditions attached to them. Licensed brokers will never offer bonuses and we advise you to avoid trading with brokers that actually offer them.

How does scam work?

A lot of people get scammed in different scammers’ schemes not because they are naive but because scammers are masters of persuasion and manipulation. It all starts with unsolicited telephone calls or a flashy ad on the Internet or the social media. Sometimes people give up to temptation and invest money in shady schemes made to look legit and attractive and always promising quick and easy money fall. Once you deposit money into any of these schemes, you reach a point of no return! Your money is gone down the scammers’ food chain and you’ll have a lot of trouble recovering it. Scammers will do anything in their power to delay you, so you miss the opportunity to file for chargeback. They will ask you for this and that document and will find hundreds of reasons not to let you retrieve your money. The trick with offering bonuses in forex trading is one of those as your funds are mixed with the bonus money and it takes a lot of hassle to fulfil the broker’s requirements before you are able to withdraw any funds.

What to do if scammed?

Speed does it! You need to act very quickly if you want to recover your money. Immediately apply for chargeback if you have made your deposit via credit card. Fortunately, VISA and MasterCard give you 540 days within which to apply for chargeback.
If you have paid via wire transfer or Bitcoin, chances of retrieving your fund are grim. Anyway, we want to warn you that some of the so-called recovery agents may approach you and offer to retrieve your funds. For a fee, of course! Be cautious when dealing with them as it may be another form of scam! Always check if the recovery agency is legitimate and visible to the public!
Another thing we advise you to do is to immediately cancel any credit cards if the scammers have your CVV code. Also, make sure to erase any programs on your computer that give scammers access to your personal data on your PC.

Rich Snippet Data
Review Date
Reviewed Broker
Markets Swiss
Broker Rating
11stargraygraygraygray

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