WikiFX Review: what you should know about Globalswiftmarkets

The currency market, which is filled with both opportunities and risks, is unpredictable. While many investors have gained considerable returns after investing in the forex market, those who suffered great losses have learned painful lessons. Today, WikiFX is going to review a forex broker named Globalswiftmarkets (globalswiftmarkets.com) for investors and traders.

First and foremost, according to the broker's website, Globalswiftmarkets makes the following claimsas regard its regulation:

These need to be broken down. First, it states that it has a license with the FSA in the States. The FSA does not actually oversee the US markets – that is the job of the NFA and CFTC. Instead, the FSA is the regulatory body that is responsible for the markets in the Seychelles. Whats more, it has the following to say about Globalswiftmarkets:

The official warning publication of FSA exposes Globalswiftmarkets as an “unlawful website” and practically a scam!

Besides, Globalswiftmarkets is a clone firm, and WikiFX claims so because they pretend to be a brand of TopFX Ltd – a legit firm regulated by the Cyprus regulator CySEC. WikiFX checked their license, but the domain name Globalswiftmarkets.com never appeared, automatically confirming that the reviewed broker is an impostor.

What‘s more, Globalswiftmarkets’ trading software waves a massive red flag! Its a Webtrader, and the problem with it is that you cannot Buy or Sell currencies as the only option is Start Trade, and once you press it, a shady robot starts running on your account.

Globalswiftmarkets‘ trading software reveals no trading conditions as spread and leverage are hidden, and one does not know what’s actually happening!

Furthermore, information about withdrawals and fees is not available as the entire Terms and Conditions document can fit into a single A4 page, and it doesnt reveal details about critical trading provisions. The only thing worth mentioning is the senseless clause that your account will be deleted if you do not deposit within 96 hours!

In addition, Globalswiftmarkets issues the following bonuses:

This is an incredibly high amount of money to hand out as a part of a promotion – even the 55% deposit bonus it advertises would be more than what most brokers offer!

Now let's search “Globalswiftmarkets” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/2371977816.html), Globalswiftmarketscurrently has no valid regulatory license and the score is rather negative - only 1.00/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in Globalswiftmarkets. The so-called brokerage is actually a scam website, which has already been exposed by the financial regulator FSA Seychelles.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.