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Is Swapnex.io a Risky Crypto Trading Service or a Scam?

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An Australian cryptocurrency trading platform is called Swapnex. It focuses on arbitrage trading, which is the practice of profiting from price discrepancies across exchanges.

Swapnex tracks bitcoin prices across several exchanges and displays ostensible arbitrage possibilities.

By using Swapnex, you may manually trade such chances with the benefit of avoiding the need to create trading accounts on every exchange and transfer funds among them.

An Australian cryptocurrency trading platform is called Swapnex. It focuses on arbitrage trading, which is the practice of profiting from price discrepancies across exchanges.

Swapnex tracks bitcoin prices across several exchanges and displays ostensible arbitrage possibilities.

By using Swapnex, you may manually trade such chances with the benefit of avoiding the need to create trading accounts on every exchange and transfer funds among them.

Is Swapnex a Licensed Broker?

A reputable regulatory body in its region does not regulate the offshore broker Swapnex. The broker may conduct business in a number of nations without being subject to the regulations mandated by the respected regulatory body in that nation, such as CySec, ASIC, FCA, CNMV, etc. Regulation cannot, however, be the main justification for labeling this broker a fraud. The cause may also be attributed to numerous complaints, unfavorable Swapnex reviews, and other potential scam elements. If you trade with this broker, your money could not be secure.

Why Should Not You Trust an Unlicensed Broker?

Sadly, if offshore enterprises leave the market, your money is stranded on their website. There is also no protection against negative account balances. It’s possible for customers to lose more money. Additionally, there is no assurance that your withdrawal will be handled. Do not trade with brokers who are not regulated.

Can Swapnex Be Trusted?

Swapnex lacks legal knowledge. They make no mention of their regulatory standing. This is not shocking to us because the project has breached several laws. Without a license, it is against the law to collect money from members of the public. There is no legal paperwork for the plan. Without a legally enforceable contract, the company is free to act in whatever it pleases without any consequences.

Warnings From Financial Regulators

Swapnex made the claim that it was an Australian-based brokerage owned by Swapnex PTY LTD in an effort to increase its credibility. Australia, however, is subject to Tier 1 financial laws. ASIC takes seriously its responsibility to register financial enterprises.

After verifying, we learned that this governing body does not regulate Swapnex. We also investigated with the FCA since the broker added another location in the UK. Naturally, nothing was to be discovered.

Forex Scam Broker Blacklist 2023

What Do Traders Think Of Swapnex?

Genuine client testimonials are lacking for the broker Swapnex. Nobody that we can see has benefited from this endeavor. Your time is not worth it on the platform. Invest at least with businesses that have positive customer reviews. You will learn about traders’ experiences. You can only determine whether the strategy is profitable with the use of such facts.

Platform Offered by Swapnex

The greatest “multifunctional arbitrage trading platform” was touted as the Swapnex trading platform. Clients allegedly had a choice of 25 different exchanges to trade and swap cryptocurrencies on, selecting the one with the lowest fees and biggest earnings.

In addition, the business implied that a trading robot would conduct all the trading.

Customers really received a plain WebTrader that lacked any unique tools or features.

Country Serving by Swapnex

The Swapnex Trading Scam began in August 2021. Since then, the company has published its false advertisements and conned victims out of: Australia, Italy, Germany, UK, Brazil, and Canada.

Swapnex Range of Trading Markets

The list of trading coin pairs that have been programmed thus far is as follows: BTC/USDT, ETH/USDT, LTC/USDT, and DOGE/USDT.

The business also provides a referral program for customers to get extra money.

Minimum Deposit and Withdrawal Terms of Swapnex

For their simplest investment plan, Swapnex charges a minimum of $100, while their largest investment plan may cost up to $1500.

Ways to Make a Deposit

The initial fee can be deposited in a number of different methods, including using Bitcoin, Ethereum, Litecoin, Doge, USDT, Tron, BitcoinCash, Ripple, Dash, USDT, BinanceCoin, Zcash, USDT, and Stellar.

Victim of Swapnex Scam? Report Your Story To Us.

There is no trading history for Swapnex. Their account does not reflect reality. The organization also makes use of misleading data. The asset’s live price differs from its current price. The earnings the organization anticipates are also dishonest. The business is attempting to attract Australian investors while lacking the necessary paperwork. Contact us and tell us your story by reporting us to recover your money.

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