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SwissCryptoCap Review: Swisscryptocap.com Forex Scam

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SwissCryptoCap Review: Swisscryptocap.com Forex Scam

SwissCryptoCap (Swisscryptocap.com) is Crypto scam platform with false Swiss regulation claims. Swiss Crypto Cap is claiming to offer both long and short term trade speeds. SwissCrypto Cap is also professing to be the ultimate trading platform that money can buy. With such claims, we have seen a huge increase in the number of complaints. Members are far from being satisfied. Read this genuine and honest SWISSCRYPTOCAP Review for more details.

SwissCryptoCap Review

About SwissCryptoCap

The about us page has no clear information regarding the ownership of this platform. According to what has been posted, they claim SwissCryptoCap is a platform founded by a group of professionals. They claim the creation was as a result of the global economic crunch back in 2008. These are just false information meant to sell the platform as a genuine trading entity. Scam artists will do or say anything to try and make their platforms appear legit. When dealing with digital currency, it is better to use approved and vetted Cryptocurrency trading robots.

When it comes to the real owners of the platform, not much has been highlighted. SwissCryptoCap is an anonymous platform with no real owners. The reason they fail to mention names is they fear being arrested. Scam artists will do anything to keep their names out of their platform. If Swiss Crypto Cap is so successful, why don’t they want their names associated with the platform? These are offshore brokers who are targeting European investors who want to trade digital currencies.

Asset Index

According to the asset index, SwissCryptoCap is furnishing traders with several assets. These assets include CFDs, EFTs, Forex, and Options. CFDs on offer include stocks from leading companies; they fail to mention which company stocks are available. When it comes to Forex, the platform is filled with currency pairs such as USD/EUR and USD/GBP. Options available include digital currencies and indices. The problem with their website is it lacks proper information regarding full assets.

Client Feedback

False information posted is the client feedback. These scam artists have downloaded stock images and given them names. The people you see on the client testimonial page are nothing but downloaded images. We tried to check any social media profiles of them but couldn’t get any. Scam artists use false testimonials to try and reach out to unsuspecting investors. The testimonials will make the platform look reputable which is far from the truth. Some will even use paid actors to produce videos claiming they have been winning with the platform.

Domain Details

The platform has been stealing from members for a while. And this is evident from the fact that their website was created on 2018. According to the trusted domain register whois.net, swisscryptocap.com was created in 25th October 2018. These scam artists have been stealing from investors for the past year. Why authorities have not catch wind is the fact that the platform keeps on coming on and off. When complaints become rampant, they go underground. Once they see no one is complaining, they re-open the same platform.

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License and Registration of SwissCryptoCap

FINMA Warning on SwissCryptoCap

With the platform claiming to hail from Switzerland, we had to check with the Swiss authorities. The regulatory body mandated to issue trading licenses in Switzerland is FINMA. Swiss Financial Market Supervisory Authority (FINMA) has issued a warning regarding the platform. When a regulator issues a warning, it means the platform was found to be wanting. These scam artists also tarnish the Swiss trading world with their location details. And this is why the regulator issued such a stern warning to traders.

Other regulatory bodies in the region plan to issue a warning. They include BaFIN, CNMV, CONSOB, CySEC, and FCA. Once these regulators jump on board, authorities will shut down their platform. And this is proof SwissCryptoCap IS NOT LICESNED OR REGULATED to offer any trading services. Any trader who opens an account should know they are risking their deposits. The platform does not insure funds as dictated by trading regulations. Once you deposit funds, it is the last you will see of it.

Limitations of SwissCryptoCap

Account Plans

SwissCryptoCap is not furnishing traders with any accounts or investment plans. We checked the entire platform for information regarding account types and couldn’t find any. And this is proof we are dealing with a platform that demands traders to give control of their funds. Once you sign up, you will deposit funds and give control to these scam artists. The moment you deposit funds, these scam artists laugh all the way to the bank. It is even clear there is no information regarding leverage, minimum deposit, or spread involved.

Contact and Support

Another shocking issue with SwissCryptoCap is in regards to communication with clients. The platform uses an email and phone number to make contact. A real trading platform will use live chat support as is effective and efficient. Emails are taking longer and longer to get response especially with scam platforms. The number listed is ever busy and members have to wait for the broker to make contact. It seems contact is one way communication and they call when members are asked to deposit more funds.

Deposit and Withdrawal

SwissCryptoCap Asset Index

When it comes to account funding, information of how to do so is missing. These scam artists created a website without thinking it through. It is expected that a trading platform mentions depository channels. Common depository channels include MasterCard, Neteller, Skrill, and Visa. Why they fail to mention how members deposit funds is beyond our understanding. What they do is send members an account number where they are asked to deposit funds. These scam artists want the process to be private. Once you deposit, they laugh all the way to the bank.

False Claims

These scam artists are using false claims to try and weave through the online trading world. Claims listed on their homepage are false and never going to materialize. They include having 2656 trades daily, over 586 wallets, 654 ATMs, and 596 clients. If they have a large number of wallets, why not give members their names. These scam artists want investors to think that this is a reputable trading platform. And that’s why you need to stay away from such an illicit trading platform.

Trading Platform

They claim to have the world’s best leverage, and still don’t state their number. When it comes to their trading platform, they are using a custom made platform. A custom made platform is bad news for traders. They usually lack proper security features such as DDoS protection and SSL encryption. Members have been complaining of slow speed of execution. What this means is the platform is unstable. With an unstable platform, some devices won’t be compatible making trading incomplete.

Safety of funds with SwissCryptoCap

When it comes to trading safely with the platform, SwissCryptoCap is never safeguarding funds. The platform has no investment packages which mean segregation of accounts is out of the question. Another scary feature is these scam artists are pooling funds in one account. When this happens, it means traders are depositing funds straight to scammer’s bank account. Stay away from any platform that behaves in such a manner. With the platform failing to give ample information, it should be a sign of bad things to come.

Scam or legit SwissCryptoCap

Features of SwissCryptoCap

After reviewing all the factors, we have concluded SwissCryptoCap is a scam. Our findings are backed by the fact FINMA has issued a warning regarding the use of this platform. Warn your family and friends from joining any of their affiliate programs. These are scam artists who have nothing else to do than steal from unsuspecting European investors.

Verdict

By adding this platform to our scam blacklist, we will be protecting our readers from their scam. Stay safe and use reliable brokers who have a proven track record. Brokers who come highly recommended will keep you safe at all times.

Continue reading our reviews for more information on upcoming online trading products and services.

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