Due to the professional nature of Swych Corp website, one can hardly detect that the broker is a petty scam wanting to steal any amount that you will transfer to them.
Swych Corp website (swychcorp.com) provides an easy entry to their platform as the minimum deposit is $150 only. This tactic is used by scammers like LeverageFX.org aka Leverave FX to trap victims in numbers.
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Our research indicates that swychcorp.com was started in 2015 but the website has not been active until this year (2022). It appears that the scammers just bought a random domain and decided to do business.
The problem is that they’re scamming a lot of victims. In fact, if you have lost money to this scam or any other on the internet, our advice is that you should file for chargeback as you will surely get back your funds.
Swych Corp Review: Broker not legit but a scam
When we look at the website of this broker, all we see is lies and also attempts to confuse traders to believe that the broker is legitimate. The first lie is that they have tens of thousands of clients.
This is not true as the broker just launched their operations a couple of months ago. Their website is also claiming that swychcorp.com is offering an investment opportunity.
Trading for yourself is not an investment opportunity. In fact, new traders lose all their money instead of making a profit. So how can swychcorp.com offer an investment opportunity when what they want is for you to trade by yourself and lose all your money?
The broker is further lying that they offer deposit insurance or some guarantee that your funds are safe.
This is the craziest lie we’ve ever had from a scammer like Swych Corp. The broker has failed to provide evidence of this insurance and so we believe this is just empty talk.
Also, notice that they’re providing us with a non-existent physical address (hammerring 8ob oberndoff bei salzburg).
This shows that the broker is not interested in disclosing their location. That address cannot be traced anywhere and even if you look it up on the internet, you will find nothing.
In short, Swych Corp is not a truthful broker simply because their agenda is to steal your deposit and not to offer you an honest trading experience.
Swych Corp broker review: Broker not licensed
A broker that is not licensed should be a no because of the kind of risks they present to you. This broker is claiming to be regulated by the IFSC but the truth is that they are just guessing random reference numbers and posting there to pretend that they have a license.
We have looked them up in the relevant financial authority register but failed to find the name Swych Corp.
The broker does not offer any kind of insurance and this should be clear from the word go. They don’t keep their clients’s funds in segregated accounts.
This means they can use your money when need arises. Not only this, but you can be sure that the broker won’t adhere to industry standards because their activities are not supervised by any financial regulator.
This is therefore a very ripe scam and no different from UniGlobal Assets or any of those scams we’ve talked about before.
The Conclusion of this swychcorp.com broker review
This is yet another extremely dangerous Forex and CFDs broker. It is not worth wasting your time to sign up because the least they could do to you is to sell your personal information like email and phone number.
Because this is an active scam pretending to offer brokerage services, we would like to enlighten you by letting you know that there’s something you can do to recover your lost money.
Do not let this broker keep your money. Thanks for reading this broker review.