Swift fundings has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Swift fundings recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Multiple order types|Fast deposits
Cons: Currency conversion fee exists
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Swift fundings is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I had a dispute with Swift fundings and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Clear documentation|Professional team|Instant funding
Cons: Currency conversion fee exists
The spread at Swift fundings is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after my brother mentioned them and initially thought the platform was good - until I started trading seriously.
Pros: Regular updates|Fast support response
Cons: Would like more payment methods
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Appears in regulatory warnings database|Uncertain regulatory status
Swift fundings advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Fast execution|Clear documentation|Dedicated account manager|Stable platform
Cons: No phone support on weekends|Nothing significant
I was about to invest with Swift fundings but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Services and Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Not registered with regulators|Unrealistic promises
My withdrawal request from Swift fundings has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Multi-device support|Economic calendar|Fast support response|Easy to use platform
Cons: Website design could be more modern
Tried to withdraw my funds from Swift fundings and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive