SWIPHTFX has been flagged by Comisión Nacional del Mercado de Valores for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The reporting at SWIPHTFX is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Comprehensive tools|Great customer service|Transparent fees
Cons: Could offer more webinars|Research section could be deeper
The spread at SWIPHTFX is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through a forum discussion and initially thought the platform was good - until I started trading seriously.
Pros: Excellent charting|Stable platform|Demo account available|Good mobile app
Cons: Website design could be more modern
I have been trying to close my account with SWIPHTFX for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Professional team|Competitive fees
Cons: Withdrawal takes 1-2 business days
After seeing ads for SWIPHTFX online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Comisión Nacional del Mercado de Valores. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Not registered with regulators|Unrealistic promises
If you are reading this considering SWIPHTFX - run. I wish I had read more negative reviews through a financial advisor. I thought the positive ones were real. Maybe some are. My experience over for close to eighteen months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Low minimum deposit|Clean UI|Social trading features|Easy withdrawals
Cons: Withdrawal takes 1-2 business days|Limited ETF selection
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. SWIPHTFX said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Intuitive for beginners|Professional team|Segregated accounts
Cons: Minimum deposit could be lower
The platform at SWIPHTFX is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since the beginning of the year of dealing with this, I have had enough.
Pros: Portfolio tracking tools|Transparent fees|Low minimum deposit
Cons: Spreads widen during volatile periods
After spending for over a year trying to make SWIPHTFX work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Excellent charting|Educational resources|Professional team|Great customer service
Cons: Charting tools need more indicators|Desktop app not available on Linux
Tried to withdraw my funds from SWIPHTFX 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.
Cons: Blocked my account|No legitimate license|Fake returns
Do not believe the bonus offer from SWIPHTFX. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited from a review site like this one and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Transparent fees|No hidden fees|Regular platform improvements
Cons: Mobile app could be improved