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Swiss29

United Kingdom|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.swiss29.com/

Website

Rating Index

Contact

+44 737 846 6697
support@swiss29.com
https://www.swiss29.com/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Disclosure

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Danger

CH FINMA
2022-08-08

Danger

FR AMF
2022-04-20
Blacklists of unauthorized companies and websites: Forex
Swiss29
Europa Trade Capital
Pro Funds Eu

Warning

FR AMF
2022-04-20

Contact number

English

+44 737 846 6697

Broker Information

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Company Name

Swiss29

Company Abbreviation

Swiss29

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2023-12-05
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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Swiss29 · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation No Regulation
Market Instrument stocks, cryptocurrencies, forex and indices
Account Type Basic, Silver, Gold, Platinum and VIP
Demo Account N/A
Maximum Leverage 1:25
Spread (EUR/USD) 0.1 pips
Commission N/A
Trading Platform MT5, AnyDesk and TeamViewer
Minimum Deposit $250
Deposit & Withdrawal Method credit/debit cards, BTC wallets, a crypto exchange, bank transfer, PayStudio, GarryPay (non-functioning), GR8Pay, PayPound, and CoiniCash

Swiss29 is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with 10,000+ tradable financial instruments with leverage up to 1:25 and floating spreads around 0.1 pips on the MetaTrader5, AnyDesk and TeamViewer trading platforms via 5 different live account types, as well as 24/5 customer support service. Here is the home page of this brokers official site:

General Information & Regulation

As for regulation, it has been verified that Swiss29 currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.18/10. Please be aware of the risk.

General Information & Regulation

Market Instruments

Swiss29 advertises that it offers access to 10,000+ trading instruments in financial markets, including stocks, cryptocurrencies, forex and indices.

Market Instruments

Account Types

Swiss29 claims to offer 5 types of trading accounts - Basic, Silver, Gold, Platinum and VIP, with minimum initial deposit requirements of €250, €10,000, €25,000, €50,000 and €250,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Account Types

Leverage

The maximum leverage provided by Swiss29 is capped at 1:25, which is in accordance with British laws. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

As tested on the Webtrader of Swiss29, we were given a EUR/USD spread of 0.1 pips.

Trading Platform Available

The platform available for trading at Swiss29 is one of the most notable and preferred trading platforms the market offers - MetaTrader5, AnyDesk and TeamViewer, compatible with Windows, Mac, Android and iOS devices.

Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.

Trading Platform Available
Trading Platform Available

Deposit & Withdrawal

From the user area, we read that clients can invest via credit/debit cards, BTC wallets, a crypto exchange, bank transfer, PayStudio, GarryPay (non-functioning), GR8Pay, PayPound, and CoiniCash. The minimum initial deposit requirement is said to be $250, and the minimum withdrawal amount is $100.

Bonuses

Swiss29 says to offer some bonuses, which vary on the account type. For example, the bonus is up to 30% on the Silver account, 50% on the Gold account and 75% on the Platinum account. According to the Terms and conditions, however, the broker says that it has the right to reclaim all such funds if a withdrawal of Non-Deposited Funds has been confirmed.

Bonuses

Customer Support

Swiss29‘s customer support can be reached by telephone: UK: +44 737 846 6697, Spain: +34 960 408 946, Canada: +1 418 474 0897, email: support@swiss29.com or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.

Pros & Cons

Pros Cons
• Multiple tradable assets, account types and payment options offered • No regulation
• MT5 supported • High minimum deposit requirement ($250)

Frequently Asked Questions (FAQs)

Q 1: Is Swiss29 regulated?
A 1: No. It has been verified that Swiss29 currently has no valid regulation.
Q 2: Does Swiss29 offer the industry-standard MT4 & MT5?
A 2: Yes. Swiss29 supports MetaTrader5, AnyDesk and TeamViewer.
Q 3: What is the minimum deposit for Swiss29
A 3: The minimum initial deposit to open a Basic account is €250, while €10,000, €25,000, €50,000 and €250,000 for Silver, Gold, Platinum and VIP accounts respectively.
Q 4: Does Swiss29 charge a fee?
A 4: Like every forex broker, Swiss29 charges a spread fee. While the information on other fees like commissions and deposits & withdrawals is missing.
Q 5: Is Swiss29 a good broker for beginners?
A 5: No. Swiss29 is not a good choice for beginners. Although it offers the worlds leading MT5 platform and pretty good trading conditions, it lacks legal regulation and its minimum initial deposit is too high ($250).

User Reviews

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YQ
more than one year
Swiss29 offers very low leverage, which made it difficult for me to execute my trading strategies effectively. I felt like I was missing out on potential profits because of this limitation. Despite this, I appreciated the other features of the platform, but I ultimately decided to switch to a broker with more flexible leverage options.
2023-03-24 14:15
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