Swiss Capital FM Review
Overview of Swiss Capital FM:
Swiss capital is a Forex and CFD broker who has not provided its location on the website. The broker offers a wide range of financial instruments for trade along with several types of accounts. Though the offerings of the broker seem attractive, there is a lack of information on its website. As there is so much hidden about this broker, it will be advised to go through this review to know better about the broker’s legitimacy.
About the Swiss Capital FM:
Swiss Capital FM has not mentioned any information about the company behind it or the location where it is based. However, the only attractive thing is the wide range of trading instruments. The broker offers various CFDs, Forex, commodities, precious metals, stocks, indices, and some of the major cryptocurrencies like Bitcoin, Dash, Litecoin, Ripple, and Ethereum. The leverage ratio that the brokerage firm Swiss Capital FM offers is 1:200.
Surprisingly, when it comes to the regulatory status of the broker, we found that the broker is unregulated. Moreover, the identity of Swiss Capital FM is completely anonymous. There is no information available on its website about the company behind it and where it is based. There is no “about us” section on the website, only a contact number with Switzerland’s country code is given which doesn’t mean much. This level of anonymity creates suspicion about the broker being a scam. The broker provides an unproven web-based trading platform that doesn’t inspire a lot of trusts. Another unusual thing about this broker is its unreasonably high inactivity fees, which is 10% monthly of the available funds on the trading account.
The claims of the broker are also seeming forged as it says that the minimum investment required for the basic account is EUR 250, however, it requires EUR 5000 as a deposit for trading with the most basic account type.
Is Swiss Capital FM a scam or legit?
Swiss Capital FM is an unregulated broker that has also been blacklisted by FINMA. FINMA is a swiss financial regulator that has warned the traders to avoid trading with Swiss Capital FM as it could be a scam broker. This cryptocurrency broker is completely anonymous and has hefty fines and charges for trading. The broker has no good signs for trustworthy trading and hence it would be a better option to avoid trading with this broker.