Beware! SwissEU.de is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
The name SwissEU suggest quality services, high standards and security. However, this is not the case with SwissEU.de, a pretended Forex broker and a scam scheme blacklisted by a European financial authority. The warning aside, it’s easy to realise it’s a fishy enterprise because they do not share an address, contact numbers or other legal information. Find out the rest of the details you need to know about this so-called broker in the full SwissEU.de review.
SwissEU.de REGULATION AND SAFETY OF FUNDS
SwissEU.de is a shady entity that doesn’t reveal anything about themselves, which strongly indicates it’s a scam. In fact, the only thing you find about this FX creature is the investor warning that the Austrian financial regulator FMA issued against them. The notices financial regulators publish alert the public about fraudulent businesses, which traders and investors should avoid. Your funds are in danger if you deposit with SwissEU.de; it’s a scam.
Avoid them and follow the links to see the EU brokers and the British brokers we recommend. The European financial markets are strictly regulated and safe for investments. The financial authorities in the EU and UK impose many regulations to protect customers and guarantee fair and ethical business behaviour. Most importantly, there are money protection schemes laid down to secure traders and investors’ money in case of bankruptcy or fraud carried out by licensed companies. For example, CySEC brokers’ clients can claim up to 20 000 EUR, while the British guarantees are up to 85 000 GBP per person.
SwissEU.de TRADING SOFTWARE
SwissEU.de doesn’t have trading software at all. Actually, it’s also impossible to sign-up or create a trading account so, SwissEU.de isn’t even a broker at all. Beware!
Considering trading software, see the MetaTrader4 brokers and MetaTrader5 brokers we recommend. MT is the most popular Forex platform, which seasoned traders and investors highly acclaim and prefer. The software provides sophisticated trading tools such as Expert Advisors, Algo trading and plenty of complex indicators. MetaTrader also created a marketplace where you can find more than 10 000 apps and third-party developed trading solutions.
As a result, there are no spreads or leverage we can show, which are the fundamental elements in trading. The spread is the Buy/Sell difference meaning it’s the price traders have to pay to open a position on the markets. Leverage is a financial tool increasing the size of the traders, but that also boosts the risks. In fact, many traders underestimate the dangers and consequently suffer heavy losses, which prompted some financial authorities to include leverage regulations.
As a result, the European, British and Australian brokers (to come in effect later in 2021) are limited to 1:30, while the Canadian brokers and the US brokers can’t provide higher levels than 1:50. The Swiss brokers aren’t restricted, but there is a 20 million francs capital requirement in Switzerland, which keeps shady brokers away.
SwissEU.de DEPOSIT/WITHDRAW METHODS AND FEES
There is no information about the minimum deposit requirements or funding methods available. The SwissEU.de’s services are at the bottom level. Anyway, we advise traders and investors to deposit via bank cards only because it’s the safest funding method by far. In case things go wrong, traders and investors can file a chargeback within 540 days from the deposit date. On the other hand, Wire Transfers and Bitcoin payments are final, meaning it’s impossible to get a refund. Consider these options, regardless of the broker.
However, if you have a preferred payment system, see our lists with legit Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers and Bitcoin brokers. The selected companies are strictly regulated, so it’s unlikely for traders to experience fraud.
There is also no information about withdrawals, fees or bonuses. SwissEU.de doesn’t even present legal documents such as T&Cs or Client agreement, which puts their services at the bottom level.
Overall, SwissEU.de is an exposed scam, so stay safe and avoid this fraudulent business.
HOW DOES THE SCAM WORK
People can see many fraudulent ads on the Internet and social media posted by scammers who want to steal as much as possible from traders and investors.
If you click on the post and submit your e-mail and contact number, they’d ring you immediately and would promise you anything to make you deposit money as quickly as possible. Most of the scammers are experienced manipulators, and before you know it, they’d ask for your bank card numbers out of the blue. Urgency is a treacherous sign, so if someone pushes you to start trading ASAP, then it’s most probably a scam.
However, the first deposit is just the beginning. Gradually they’d ask for more money from you no matter what. If you lost on the market, they’d persuade you to put more money and recover the losses. If you traded well, they’d persuade you to put more money and increase the profits. The troubles start when you ask for a withdrawal. The scammers would do anything to discourage you and would even ask you to deposit even more funds if you want to withdraw. The scammers’ mantra is “give me your money”, they’d insist every day you should fund your account over and over again for no obvious reason. Legit companies do not bother you over the phone to deposit with them, so if someone pushes you to invest, it’s most probably a scam.
WHAT TO DO WHEN SCAMMED
Unfortunately, no one is immune to scam. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you instructions and will help you, if possible, recover your money.
Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!
It’s crucial not to rush blindly trying to recover your funds because many scam recovery agencies and individuals are stalking, aiming to double scam the victims. They ask for an advanced payment but do nothing to help you recover your losses and simply pocket the money you’ve sent!
Share online your experience; it’s important to protect others, as well. Be responsible!