SwizzPRO Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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SwizzPRO offers almost everything I want, live chat support service, demo accounts, MT4 trading platform, and most importantly, free educational resources. If all can always be as smooth as they are now, I am very willing to trade with them all the time. Who doesn't want a professional and reliable broker?
SwizzPro, an offshore broker, has garnered considerable attention in the trading community, but the overall sentiment is overwhelmingly negative. Many reviews highlight significant concerns regarding its regulatory status, user experience, and trading conditions. Notably, SwizzPro claims to offer a wide range of trading instruments and competitive spreads, but the lack of regulation raises serious questions about the safety of user funds.
Note: It's crucial to recognize that SwizzPro operates under different entities across various regions, which may affect the regulatory scrutiny it faces. This review aims to provide a fair and accurate assessment based on available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| (Optional) Additional Rating | 2 |
How We Rate Brokers: Our ratings are based on comprehensive analysis of user reviews, expert opinions, and factual data regarding the broker's offerings.
Founded in 2021, SwizzPro operates under the name Reverra LLC, registered in Saint Vincent and the Grenadines. The broker promotes itself as a provider of forex and CFD trading, claiming to offer access to popular trading platforms like MetaTrader 4 (MT4) and a proprietary web trader. However, it lacks any regulatory oversight, which is a significant red flag for potential investors. The absence of oversight means that users' funds are not guaranteed, and there is little recourse available in the event of disputes.
SwizzPro is unregulated, operating under the auspices of Reverra LLC, which is based in a jurisdiction known for lax regulatory standards. The Spanish financial authority, CNMV, has issued warnings against SwizzPro, stating that it is not authorized to provide investment services. This lack of oversight is concerning, as it indicates a high risk of fraud and mismanagement of funds.
The website claims to support various deposit methods, including credit cards and e-wallets like Skrill. However, specific details about withdrawal methods remain vague, which is a common tactic among potentially fraudulent brokers. Users should be wary, as many unregulated brokers often prefer cryptocurrency transactions due to their irreversible nature.
SwizzPro does not disclose a minimum deposit requirement on its website, which is a significant red flag. Typically, reputable brokers have clear minimum deposit policies, often starting around $250. The ambiguity surrounding this aspect raises concerns about the broker's transparency and trustworthiness.
While SwizzPro advertises various trading bonuses, these often come with high withdrawal requirements that can trap users into unfavorable trading conditions. Scammers frequently use attractive bonuses as bait to lure unsuspecting traders into depositing funds.
SwizzPro claims to offer a wide array of trading instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies. However, the actual availability of these assets can be questionable, as many users have reported limited access to the promised trading options.
The broker advertises spreads starting from 1.4 pips for its VIP account. However, the lack of clarity regarding commissions and additional costs can lead to unexpected fees that significantly impact trading profitability. Users are advised to be cautious of hidden fees that are not disclosed upfront.
SwizzPro offers leverage of up to 1:500, which is significantly higher than what regulated brokers typically allow. While high leverage can amplify profits, it also increases the risk of substantial losses, making it a dangerous proposition for inexperienced traders.
The broker claims to support MT4, but many reviews indicate that users are primarily directed to a basic web trader that lacks the functionality and tools of established platforms like MT4 or MT5. This limitation can severely hinder the trading experience, especially for more advanced traders who rely on sophisticated trading tools.
SwizzPro has not clearly stated any specific regions it restricts, but the lack of regulation and warnings from various financial authorities suggest that it may not be a safe option for traders in most countries. Users should exercise caution and consider the legal implications of trading with an unregulated broker.
Customer support options are limited, with users primarily able to reach out via live chat or email. However, the lack of comprehensive support details raises concerns about the broker's commitment to customer service.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
In conclusion, the SwizzPro review indicates that this broker poses significant risks for potential traders. The lack of regulation, transparency issues, and poor user experiences suggest that individuals should be cautious and consider more reputable alternatives for their trading needs.
