Imagine a broker promising you the opportunity to become a true trading pro with just the simple act of opening an account on their platform. Sounds almost too good to be true, doesn’t it? Let’s delve into the reality of what unfolds on this platform and determine whether MetaSwissX lives up to its claims or if it’s just another scam. All the details are outlined in this review.
- MetaSwissX General Information
- Registration and Client Portal Review
- MetaSwissX Trading Conditions
- Account Types Review
- Trading Platform
- MetaSwissX — Deposit and Withdrawal of Funds
- Additional Options
- Is MetaSwissX a Scam?
- Legal Information and License
- Metaswissx.org Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
MetaSwissX General Information
|12 Leadenhall St London EC3V 1LP UK
|Up to 1:500
Registration and Client Portal Review
MetaSwissX seems to have taken the approach of not bothering to create a unique website. The company opted for a template, and while it may look decent and boasts a visually pleasing color scheme, the positives end there. Information about the company is scarce. Trading conditions are superficially outlined, and legal details require a thorough search. The first page is overloaded with self-promotion and flair. Well, what did we really expect from a typical template, right? Perhaps a witty remark on this topic could lighten the mood. Additionally, it’s worth noting that the broker has only provided the website in English, neglecting any other language options.
The registration process on the MetaSwissX website is incredibly simple. Essentially, you only need to fill out a small form, providing your contact details along with your name and surname. Voila – you gain access to the client portal. No additional procedures are required, such as entering codes for email or phone verification; the broker simply doesn’t bother sending them. In other words, it grants access to the personal account with just a password. However, this simplicity raises concerns about the platform’s security.
Once inside the MetaSwissX client portal, the experience takes a nosedive into mediocrity. The platform is a lackluster offering, marked by a stark absence of essential features that one would anticipate from a reputable broker.
Critical information that traders typically seek is conspicuously absent. It’s as if the client portal is deliberately designed to keep users in the dark regarding crucial aspects of their trading activities.
MetaSwissX Trading Conditions
As you may recall, MetaSwissX boasted about being the exclusive platform where you could transform into a professional trader. Let’s examine whether this claim holds true or if the reality is far from promising.
Account Types Review
MetaSwissX offers a total of six account types, each with its own set of conditions. The minimum deposit required is 250 euros. Moving up the Silver account demands a substantial increase to 10,000 euros, while the Gold account escalates further to a minimum deposit of 20,000 euros. Notably, we observed that the higher the account status, the more favorable the conditions seem. For instance, the Basic account features a meager leverage of 1:5, while the Diamond account boasts a leverage of 1:500. Surprisingly, not all accounts grant access to all timeframes. Basic accounts, for example, are limited to intraday trades, whereas higher-tier accounts offer more extended trading opportunities. Quite intriguing, isn’t it?
Also, MetaSwissX entices traders with staggering bonuses, even offering 50% in the Basic account and potentially up to 150% in others. Additionally, there are peculiar limitations on education. Beginners seemingly receive minimal training, while premium account holders are promised insights into even fundamental analysis. In essence, MetaSwissX adopts a straightforward approach – the more money in your account, the more diverse services they offer. Oh, and do note the absence of normal contract specifications, such as spreads, which are curiously omitted from the platform.
MetaSwissX’s trading platform leaves much to be desired, constituting a rather unfortunate web terminal that lacks both a desktop and mobile application. The absence of a dedicated desktop or mobile app is a glaring drawback. Traders accustomed to the convenience of a standalone application will find themselves grappling with the limitations imposed by relying solely on a web-based terminal.
Navigating the platform reveals a stark scarcity of indicators, a critical deficiency for traders who rely on technical analysis.
Crucial features that are considered standard in more robust platforms are notably absent. From advanced charting tools to essential risk management features, MetaSwissX’s platform falls short in providing a comprehensive toolkit for traders.
MetaSwissX — Deposit and Withdrawal of Funds
Within the client portal, MetaSwissX indicates that account funding can be facilitated through credit and debit cards, bank transfers, the CashU system, and various other payment systems. However, for withdrawals, the unexpected inclusion of cryptocurrency options is noteworthy. Unfortunately, the portal fails to provide precise details regarding withdrawal commissions and processing times.
The verification process on the broker’s website follows a fairly standard procedure.
- Once the initial registration is complete, the next step is to submit the required identification documents. This commonly includes a government-issued photo ID (such as a passport or driver’s license) and proof of address (like a utility bill or bank statement).
- The submitted documents undergo a thorough review to verify the user’s identity.
- In addition to confirming identity, the platform may require users to provide additional documentation to verify their residential address.
The verification process is followed by a processing period during which the submitted documents are reviewed by the broker’s compliance team. The duration of this step may vary, but users are usually notified once their verification is complete.
MetaSwissX proudly showcases a range of supplementary services, prominently featuring bonuses among them. However, it is crucial to note that bonuses are restricted or outright prohibited by most reputable regulators. Moreover, the ease of withdrawal for these bonuses is questionable, often requiring users to fulfill certain conditions before accessing their bonus funds.
The MetaSwissX platform also offers training in technical and fundamental analysis, yet the identity of the educators remains shrouded in mystery. The absence of any information about the team, their qualifications, or professional achievements raises doubts about the credibility of these educational services. It remains unclear whether those providing the training possess the expertise required to impart valuable knowledge or if these sessions are led by individuals with questionable skills and qualifications. MetaSwissX’s failure to disclose such fundamental details about their team only adds to the overall opacity and uncertainty surrounding their operations.
Is MetaSwissX a Scam?
The broker offers fairly typical trading conditions, lacking any standout features that distinguish it from the standard offerings in the market. Let’s now delve deeper to determine if there are any unique aspects within its legality.
Legal Information and License
Our concerns about the limited disclosure of legal information by MetaSwissX have proven to be valid. The lack of transparency raises significant issues as crucial details about the managing firm, registration specifics, and the existence of a license remain undisclosed. This level of opacity directly contravenes information disclosure regulations.
Specifically, the company fails to provide the name of its managing firm, its registration location, or any evidence of possessing a license. The only identifiable information is an address in Britain. To address this uncertainty, we checked the British registry for any mentions of MetaSwissX. Unsurprisingly, no records of a company by that name were found in the registry. This lack of official registration implies an absence of the necessary license for providing brokerage services.
Metaswissx.org Domain Info
MetaSwissX raises serious doubts about its credibility, particularly regarding its claimed duration of operation. Upon investigating the domain registration date, we discovered that the website’s domain was registered as recently as October 7, 2023. It is self-evident that such a brief period of existence is ludicrous, casting significant skepticism on its legitimacy. This timeframe strongly suggests that MetaSwissX is not an established broker but rather a fledgling entity that has been in existence for only a few weeks.
The provided contact details on the platform are notably sparse. While an email address is listed along with an office address, the accuracy of the latter is questionable. Our investigation found no evidence of any brokers or financial entities named MetaSwissX at the specified office location. Therefore, we strongly advise against visiting the indicated address, especially considering the lack of verifiable information and potential risks associated with unverified locations.
Pros and Cons
- Low entry requirement.
- Lack of transparency.
- Absence of license.
- Dubious identity.
- Limited educational resources.
- Unsubstantiated duration.
Frequently Asked Questions (FAQ)
MetaSwissX purportedly offers trading services, but its lack of transparency raises concerns about the legitimacy of its offerings.
According to the trading conditions, the minimum deposit required is 250 euros. However, we recommend verifying and exercising caution due to the platform’s questionable nature.
No, MetaSwissX is not a safe broker. It operates as a typical anonymous website pretending to be a broker, potentially posing risks to your funds.