SwissSafeway scam broker review

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Forex trading, binary options are one of the most popular tools for online trading, especially among beginners. The reason is that they are easy to understand and you can start trading the moment you open a trading account. At first glance, everything looks simple, easy, straightforward and secure. However, the trick is that such a simplified procedure attracts not only traders, but also many financial scammers.  Inexperienced participants of the online trading sphere have high chances to choose the so called "black" brokers of binary options, because usually such brokers have the most attractive websites and the brightest advertising in the Internet, which lures new victims every day.

If you want to avoid losing your money, risks and time, it is important to be aware of the special signs and tricks of the speculative brokers offering binary options brokers' services. Detailed reviews of existing companies, which are presenting themselves as reliable brokers, can help. Reading the actual reviews, traders understand what is important to pay attention to when choosing a dealing center, what methods such brokers use, and how the swindlers manage to cheat their credulous clients. Thanks to the reviews potential investors can get acquainted with the names of the companies that have been repeatedly spotted in fraud. This is very important in order to know the fraudsters by sight when they meet them.

For example, let's pay attention to a certain dubious company called SwissSafeway. 

From the pages of its official website, the company presents itself as a broker and claims to be trusted by thousands of investors from around the world.

SwissSafeway scam broker review review

Judging by SwissSafeway's advertising, his platform offers a set of the best trading conditions. It has tight spreads, high speed of task execution, more than 500 trading instruments, and the web-platform differs from competitors' analogues in reliability and security. 

According to statistics, of the total number of existing binary options brokers black binary options brokers, which aim to cheat as many people as possible, are dozens of times more than legitimate reliable brokerage companies.

Studying the information on the site, checking the legitimacy data, reading the reviews of real customers, not promotional custom-made articles, helped to build a real portrait of SwissSafeway, which is located on the Internet at swisssafeway.com.

Types of trading accounts offered by SwissSafeway

The site has a separate section dedicated to the types of trading accounts. SwissSafeway, which presents itself as a dealing center, offers its users only three types of accounts - Silver, Gold and Platinum.

SwissSafeway scam broker review news

The company emphasizes that real money accounts allow their clients to participate in the Forex market.  There is no information about the availability of the demo mode. It is not known whether SwissSafeway clients can test the trading platform to gain real trading experience without the risk of losing money, mastering the MT4 trading terminal, its functionality, as well as creating a trading strategy in real market conditions.

As for the terms and conditions of the tariff plans, SwissSafeway behaves quite laconically. The section is extremely uninformative. For example, about the type of trading account 

Silver is known for the leverage of 1:100 in combination with a standard set of tools. No additional services are provided by the platform. For the Gold account type, the leverage is increased to 1:200 and added the possibility of getting a 25% discount on swaps. 

Now about the Platinum plan, for which the leverage is set at 1:300. Here, the company indicates that it offers access to an extended package of services, listing free VPS, investment news, a personal manager, and a 50% discount on swaps. It promises real-time quotes with no delays.

At the same time, the company warns that it does not inform its clients personally about any changes that it may make at any time. 

The information on the minimum deposit for each tariff plan is not provided. Not only in the special section for trading account types, but also on the website and in the chapter Terms and Conditions.

It is known that the quality of order execution does not depend on the type of account. The platform promises that when you open a trading account, a personal manager is attached to it. 

SwissSafeway puts its advantage of free access to training materials, financial news, economic calendar including Forex forecasts, regular daily market and technical analysis.

These are all typical conditions that hundreds of other analogue companies can offer. Judging by its tariff plans, SwissSafeway does not have exclusive offers to attract clients.

SwissSafeway trading conditions

SwissSafeway executives offer more than 145 instruments for traders to trade. The truth is, they prefer not to spell out which ones.

On its official website, this dubious broker says that it provides brokerage services to traders from different countries. However, in fact, its benchmark - German citizens, as well as English-speaking investors: the site is presented only in German and English versions.

Among its advantages, SwissSafeway emphasizes the possibility to trade and earn through their platform currency pairs, CFDs on shares, global indices, precious metals, raw materials and commodities. 

It is known that deposits and withdrawals at this broker are only possible through Credit/Debit Cards and Bank Transfer. 

Traders can operate only two types of reference currencies: USD or EUR.

There is a nuance on the platform - the withdrawal action is real to the same details, from which the deposit was made. However, only for the amount of the deposit. This means that all amounts that exceed the specified measure are allowed to withdraw by other means. 

SwissSafeway emphasizes that it does not charge customers a transaction fee. This is strange, since for legitimate brokers this fee is a source of profit.

If we talk about the working terminal, SwissSafeway uses Webtrader as its trading platform, which is available from browsers as a web version and from Android/iOS smartphones. 

Among the main advantages of the terminal SwissSafeway emphasizes trading in one click, tells about access to any type of orders, tools for graphical and technical analysis; narrow spreads and time periods from 1 minute to 1 month.

As in the case with the description of the trading account types, the trading conditions are not very informative. For comparison, legitimate brokers try to give their clients the most detailed information in order to join the platform. Perhaps the problem is in the legal status. This issue requires a detailed study and verification.

SwissSafeway Licenses

SwissSafeway, which allegedly offers its brokerage services, claims to have been established several years ago, so it is still actively developing.

Since the company is an online broker, its activities are impossible without an official website. Checking the domain name SwissSafeway through the service WhoIs showed that the project managers lie to the users of the resource swisssafeway.com about the start date.

As we can see, the registration of swisssafeway.com is dated early September 2021. This means that the company is only 2 months old at the time of our review. It is possible that the project had a different name and site, but like most fraudulent companies reborn as a new resource with a clean reputation.

The Contacts section states that SwissSafeway can be contacted by phone, through a support email, or come to Kingstown. Chances are, the address in question won't even know about a company with a similar name. This is a popular practice of most fraudulent online brokerage projects.

In the footer of the site it is not clear at all why the licensing and address information is listed partly in German and partly in English.

Such unprofessionalism in combination with low-informative sites and lies significantly reduces the loyalty of users.

As for the legitimacy of the company. Here there are many questions: the place of registration is an offshore zone with a low level of trust in the field of trading.

Moreover, it turns out that even this offshore license is not SwissSafeway at all, but Arlo Project LLC, and SwissSafeway is just the name of the project on the Internet. There is no documentary evidence of the connection between the two names either.

SwissSafeway doesn't even have a license offshore.

So what do we have: a company that pretends to be a broker, but operates without a license, poorly spelled trading conditions, a dubious reputation and lies even on the official website.

We managed to find out that traders' funds are kept in segregated accounts, and in order to become their client, it is necessary to share full personal data with the fraudster.

SwissSafeway Reviews online

As a confirmation of the large number of concerns, we see that there are almost no mentions of a company with a name like SwissSafeway on the web. Nevertheless, we did manage to find a review from a real customer.

As we see, it is quite different from the one that this dubious broker is trying to present on his website.

Safety and security of funds with SwissSafeway

Cooperating with SwissSafeway is very risky for traders' finances. 

The company is illegal, provides false information and reserves the right to change conditions without further informing the clients.

Summary 

SwissSafeway is a typical scam broker. It's not even a company, it's a typical fake, presenting itself as a reliable international broker of exchange operations. In reality it is just another representative of the online financial sector, which operates under the control of swindlers, the only purpose of which is to trick and gain money from their clients.

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