This broker operates under Reverra LLC located in St. Vincent and Grenadines. This offshore company is most probably a rebranding of the company OnlineTradingLive.� This company is using cheesy tactics to lure clients into its database.
| Broker status: | Unregulated / Offshore Broker |
| Regulated by: | No regulation |
| Scammers Websites: | Swizzpro.com / swizzpro.net |
| Blacklisted as a Scam by: | N/A |
| Owner: | Reverra LLC |
| Headquarters Country: | St. Vincent and Grenadines |
| Foundation year: | 2022 |
| Supported Platforms: | Web-trader |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | Yes – BTC, XRP, USDT |
| Types of Assets: | Forex, Commodities, Indices, Stocks, Cryptocurrencies |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | Yes |
| Accepts US clients: | No |
| Site Grid: | N/A |
To be precise, this company uses a Bitcoin Code advert about an automated trading system.� As a result, clients get redirected to SwizzPRO, which doesn’t have any license for trading. Read our SwizzPro review to learn more.
SwizzPRO Is a Non-Regulated Fraudulent Broker?
Since the broker doesn’t have any regulations they have the freedom to do whatever they want. They lure clients through fake adverts to register. After that, it’s just about boiler rooms agent imagination and how they will present your result.
Moreover, this company exists only for less than 2 years and it didn’t build any reputation whatsoever.
You already know if something is offshore that it’s shady. Therefore, a broker like SwizzPro without regulation is highly dangerous. Offering services that license is not allowing is not what we looked for.
Arguments For Trading With a Licensed Broker
The most important aspect is the security of the funds. In case of a loss or scam, you know who to reach out to. In regulated companies, the broker is not allowed to tell you what to do. And you often see that brokers are guiding you in detail on how to trade.
Non-licensed trading companies can give you any conditions. The end goal is always the same, to get as much as possible from you and to disappear.
That’s why we suggest in this SwizzPRO review to look only for Tier 1 Regulators like BaFin, FCA or ASIC.
Of course, SwizzPRO doesn’t have any records in its database.
Analysis of Customer Reviews Related to SwizzPRO
If you were not 100% sure that this is a scam, here comes another clue. We researched SwizzPRO reviews and we found shocking facts.
94% of people who commented about SwizzPRO are coming with a negative experience. For instance, we will just talk about TrustPilot where we found 16 comments at the time of writing this article.
Description Of The Trading Platform Offered by SwizzPRO
It’s all shiny when you look at the website. The company offers different options. But the truth is different. Whatever platform you open you are redirected to Web-trader.
Web-trader is limited to just basic trading tools and offers nothing extraordinary. Especially if you are an experienced trader and you are looking for in-depth analysis.
What Financial Instruments Does The Platform Include?
The company offers 5 different trading classes. Starting with
- Forex � � � � � � � � � � � AUD/JPY, CAD/USD, NZD/GBP
- Commodities � � � � � Gold, Cotton, Silver
- Indices � � � � � � � � � � Nikkei225, DAX30, DowJones
- Stocks � � � � � � � � � � Apple, Adobe, Microsoft
- Cryptocurrencies� � BTC, BNB, ETH
Some of the assets, like cryptos, are not allowed in licensed companies. Therefore you should be extremely careful with those.
Mobile Trader�
You would expect to see a mobile version, but it’s not available. Every attempt leads you just to a web trader. Therefore, we wouldn’t trust this website much.
MetaTrader 4
This would possibly be a game-changer. MT4 is a reliable and trusted platform for traders. Since the company doesn’t provide access to it, we can realize that their goal is to get you on their web trader.
WebTrader
This is very poorly designed software, with limited trading tools. Because the company has access to the back end, there is a high probability they will fake market information and manipulate trading data.
SwizzPRO Fraud Risk Zones – Service Countries
According to SwizzPRO reviews the company offers phone numbers from the UK and Canada. Therefore we can assume that they are trying to reach people from these countries. It’s not excluded that some like Australia, Switzerland or New Zealand are targeted as well. Be careful when registering with SwizzPRO. � � �
SwizzPRO Features, Requirements, And Benefits of Each Account Type
The conditions that the company offers are complete nonsense. First, they offer just 3 live trading account types:
- Standard � � floating spread / Leverage 1:30� � �
- Premium � � floating spread / no commissions
- VIP� � � � � � � 1.4 pips fixed spread / support hotline
Now comes the interesting part. SwizzPRO trading doesn’t reveal the minimum requirement. Based on the company states, they decide how much the client can initially deposit.
Negative Balance Protection And Segregated Bank Accounts
Any reliable licensed company has negative balance protection. This gives you an option just to trade with what you have on your trading balance. Nobody wants to go into debt because of trading. Especially not with scammers like SwizzPRO.
SwizzPRO Access to a Free Demo Account
�Unfortunately, the company offers a demo account access. But that is only a trick to get you on board. Same as their regular platform, this one could be manipulated.��
Our suggestion is always to open a micro account with a licensed company, rather than a demo account.
The Importance of Legal Documents
Before you make your initial deposit, the company requires you to sign legal documents. This is in many ways good if the company is legitimate.
As a result, they force you into something that you might not want. Therefore, before you read everything carefully don’t sign anything.
SwizzPRO Terms and Conditions
To sum it up, their T&Cs are speculative. Whatever conditions the company states they are not controlled by any regulatory body. Therefore it’s not reliable. Stay away from a wide angle.
What’s more, we strongly recommend that you avoid the fraudulent brokers MFTTrade, IGFB, and ViaMarketsGo.
Bonuses, Spreads and Commission
Nothing is clearly specified. Spreads are floating and commissions are questionable. It’s just a matter of time before you will realize there is some new commission request. Of course, you have never heard of it before.
Don’t fall for bonus tricks. They are just luring tactics.
SwizzPRO Broker Scammed You? – Please Tell Us Your Story
The online trading market is full of people who are trying to take your money. However, there is nothing to be ashamed of when this happens. These people have the means and tools to persuade you to invest, and it’s not your fault if you fall victim to their schemes.
If you’re a victim of a SwizzPRO scam, let us know. Our experts can assist you with a chargeback process.
What Is the Chargeback Procedure?�
When a customer disputes a purchase, the chargeback process can be started by either the merchant or the card issuer. This means that the chargeback payment amount is returned to the cardholder’s account.
What Is SwizzPRO?
It’s a non-licensed brokerage hiding behind a company based in ST. Vincent and Grenadines.
Is SwizzPRO a Scam Broker?
Yes. They provide all the crucial signs to recognize the scamming company. First and most importantly, not having a license.
Is SwizzPRO Available in the United States or the UK?
This information is missing since they are freshmen in markets. We believe that very shortly there will be warnings issued.
Does SwizzPRO Offer a Demo Account?
Yes. But like anything else, its reliability is questionable. Is it just there to lure you into depositing is the right question.
Source:
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