Swapnex Broker Review

The Swapnex broker seems to be another MLM Ponzi scheme. This website was officially shut down about a month ago after being exposed as a scam on YouTube, Reddit, and Trustpilot. This scam left all investors without their money.

Also, this Swapnex review should give you a good idea of what to look for when selecting a broker.

Let us start by inviting you to read our reviews on Aurora Coins, BidTrade, and Orient Financial scam brokers. There is no way their investment offers can be genuine!

1. Scam Broker Status: Unregulated
2. Broker Regulation: Unlicensed / Unregulated
3. Websites of scammers: swapnex.io
4. Forex Trading Scam: Active
5. Listed as a scam by N/A
6. Owner of the broker: Swapnex PTY Ltd
7. Country of headquarters: Australia (allegedly)
8. Year of foundation: 2021
9. Platform: WebTrader
10. Trading on the go: Not available
11. There is a minimum deposit of $200
12. Bonuses on deposits: Available
13. Trading Crypto: Available
14. CFDs can be traded: Yes, they can be traded.
15. Instruments for trading: Cryptocurrencies
16. Leverage maximum: N/A
17. Account type: Islamic: Not available
18. Demo account: No, only live performances are available
19. US traders are not accepted: US traders are not accepted.
20. Warning: Global Fraud ProtecBeware of this Scam Broker!

Is Swapnex a Scam Crypto Provider?

The company’s website claims it is based in Australia and is owned by Swapnex PTY LTD. However, Australia falls into the Tier1 zone concerning financial regulations. Registration of financial companies is a severe matter to ASIC.

After checking, we found that this body doesn’t regulate Swapnex. The FCA also verified the broker’s address in the UK since it added another address. Nothing was found.

As of now, Swapnex appears to be another scheme.

Where Is Swapnex Trading Scam Active?

The Swapnex trading scam officially began in August 2021. Consequently, the firm has been posting fake ads and defrauding people from:

• Australia
• Italy
• Germany
• UK
• Brazil
• Canada

How Safe Is Swapnex Broker?

The brokerage Swapnex is a scam. Also, there have been multiple reviews of the company on YouTube, Reddit, Trustpilot, and other social media sites. A website for the company is inactive, and money from its clients has been stolen.

How Does This Scam Contact victim?

This review is also because scams often reappear under a new name. The company keeps its old databases and contacts old customers, offering them recovery programs or even better trading opportunities.

With different promotions and financial plans, Swapnex used to call and email its clients constantly. As an MLM scheme, you earn additional bonuses and profit levels for bringing more people to the organization.

Instagram, Facebook, Twitter, and Google were used to promote this scheme. You can make thousands of dollars from some catchy slogans in a few hours. We’ll try to reach you via phone and email to convince you to invest once you’ve signed up.

Finally, this firm advertised on YouTube, paying different bloggers to promote it.

We also recommend you be very cautious when dealing with unregulated brokers like Tedex, Core Coin, and Liquids.

Did Swapnex Crypto Scam You? – Start the Chargeback Process

If you fall victim to the Swapnex scam, we would be happy to hear from you. You can count on our chargeback specialists to look into your case and find a solution.

Forex and crypto scams are an area of expertise for Global Fraud Protection. Don’t become desperate. You can schedule a free consultation with us via online chat. Since the broker disappeared, the refund process should be started as soon as possible.