SwiftPay FX is a foreign exchange broker whose official domain was registered on February 27, 2024. It primarily offers investors trading services in financial derivatives such as forex, stocks, indices, energy, metals, and ETF contracts for difference (CFDs). This broker does not provide services to jurisdictions where doing so might violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
Public information on the SwiftPay FX official website reveals that the broker operates through multiple corporate entities and is regulated by several regulatory authorities. SwiftPay FX Ltd is licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC), with a license number of 1780019. SwiftPay FX (registration number HRB11677B) is a designated agent of Ultra Booster Trade Ltd, registered with the Federal Financial Supervisory Authority (BaFin) in Germany. Additionally, the broker was authorized by the Financial Services Commission (FSC) of Mauritius as an investment dealer on October 2, 2017, and is regulated by them, holding a license number of C17554381. TVH Ltd is authorized and regulated by the Seychelles Financial Services Authority (FSA), with a license number of SD0175.
According to the verification of public information on its official website, the Cyprus Securities and Exchange Commission (CySEC), the Federal Financial Supervisory Authority (BaFin), the Financial Services Commission (FSC) of Mauritius, and the Seychelles Financial Services Authority (FSA) have not found any regulatory registration information for this broker.
Opening an Account:
To open an account with SwiftPay FX, visit the broker's official website, click "SIGN UP FOR FREE" on the homepage or "SIGN UP" in the top right corner to access the account registration page. Fill in personal information such as your name and email address, set a login password, and submit. Once the application is submitted, the account is successfully registered.
Account Types:
SwiftPay FX offers a demo trading account and four different types of trading accounts: STARTER, BASIC, PRO, and EXECUTIVE. However, its official website does not disclose detailed information on spreads, trading leverage, margin call/stop-out levels, contract sizes, as well as trading commissions, minimum/maximum trade volumes, maximum positions/orders, and minimum price precision.
Trading Platform:
SwiftPay FX offers a proprietary trading platform for its users.
Deposits and Withdrawals:
SwiftPay FX supports deposits and withdrawals through local banks, electronic wallets, or cryptocurrencies.
Conclusion:
Traderknows reminds investors that SwiftPay FX is a scam platform providing false regulatory information, with its website design and content identical to those of brokers such as Sterling, Global Finance FX, Vedit Luminus, Irex Global Chain, Profit Miner24, Universal FX Trade, and TradeWell Exchange. Traderknows advises investors to choose brokers that are transparent, strongly regulated, and have a good reputation for their investment and trading activities to avoid unnecessary losses to their assets.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
