cswgroupfx.com is a CFD broker whose domain was registered on July 27, 2024. This broker primarily offers financial derivative trading services, including forex, precious metals, crude oil, indices, and cryptocurrencies, to retail and institutional clients. It does not offer services to jurisdictions where this might violate local laws or regulations.
Company Registration Information and Regulatory Status
The homepage of cswgroupfx.com claims that its company entity is GS Goldmansachs, stating that "the company headquarters are in London, UK, and its subsidiaries are regulated by FinCEN as MSB and registered under the NFA in the United States, undergoing stringent auditing and regulation." Additionally, the "About Us" page notes that "GS Goldmansachs is part of the GS Goldmansachs Group, an American company involved in investment banking and financial services, established in 2008 under the Emergency Economic Stabilization Act of the US Treasury Department."
However, the broker does not disclose the full company name, registration number, or regulatory license numbers on its website. Detailed terms of service and legal documents are also not provided. Verification on FinCEN and NFA websites shows no company named GS Goldmansachs. Additionally, the name appears to mimic the renowned financial firm Goldman Sachs, potentially misleading investors.
It is notable that the webpage design of cswgroupfx.com closely resembles those of fraudulent broker sites like sedxcmarkets, FCAAGEA Financial Limited, Pocketx Ltd, ABASTR, Bakkt Market, igvipfx.com, using the same template.
Therefore, cswgroupfx.com is actually a fraudulent broker website with no corporate entity or regulation.
Trading Instruments
cswgroupfx.com offers various financial derivative trading instruments including:
- Forex: Covers major currency pairs such as EUR/USD, USD/CAD, GBP/USD, and USD/JPY.
- Precious Metals: Offers spot trading in gold (XAUUSD) and silver (XAGUSD).
- Crude Oil: Provides trading in US crude oil (UsOIL).
- Indices: Includes indices like Nikkei 225 (N225), German Index (GER30), S&P 500 (US500), etc.
- Cryptocurrencies: Offers numerous major cryptocurrency pairs, including Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), etc.
Account Opening Process
The steps to open a trading account on cswgroupfx.com are as follows:
- Visit the official website and click “Register” at the top right to go to the registration page.
- Fill in your email and set a login password, then receive a verification code via email.
- Enter the verification code and submit the form to successfully register an account.
- After registration, users need to complete KYC verification to make deposits and trade.
Trading Account Information
The cswgroupfx.com website only discloses partial trading account information such as spreads, leverage, and contract sizes:
- Base Currency: USD
- Spread: Floating spreads starting from 1 pip
- Leverage: 1:100 - 1:500
- Margin Call Level/Stop Out Level: 100%/50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform
cswgroupfx.com claims to provide users with ST5 trading platform, covering both desktop and mobile versions, featuring over 50 technical indicators and intraday analysis tools along with advanced trading functionalities. However, the ST5 platform is simplistic and often used by fraudulent brokers.
Deposits and Withdrawals
cswgroupfx.com does not clearly list the supported deposit and withdrawal methods, fees, or minimum amounts on its website.
Conclusion
Traderknows reminds investors that cswgroupfx.com is actually a scam broker website with no actual company entity or regulatory oversight. The contact information provided is limited to email only. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid financial losses.
Currently, cswgroupfx.com is labeled as "Suspected Fraud" on Traderknows.
