About – Empire Swiss
After looking at their website, it’s clear that they are not regulated by anyone. That is a HUGE WARNING SIGN!! That should be enough to make you not want to put your money with them. And they work with websites that offer “Automated trading software,” which is another red flag because these websites are notorious for scams.
So Empire Swiss is just another forex broker that isn’t regulated. This means that their customers aren’t protected, and it’s very likely that they’ll get away with your hard-earned money without being held accountable.
Today’s forex market is full of scam brokers, so traders must be careful with every online trading company. You should be especially aware of shady brokerage firms like Empire Swiss that are anonymous, don’t have any trading credentials, and offer bad services based on lies.
If you’ve heard of Empire Swiss Broker, you’ll soon find out that this company is a scam. So, keep reading our review of Empire Swiss to learn more about this investment scam.
On top of that, we strongly advise you not to invest in the fake brokers BCH Advance, iToroStocks, and WiseFXPro. If you want to save money, don’t trade with these brokers who aren’t licensed.
How does it work?
Most of the time, this is how unregulated forex brokers work. They will call people and try any way they can think of to get them to make the initial minimum deposit. They will offer deals that sound too good to be true, like “we’ll double your first deposit” or “it’s easy to make $100 a day.” Don’t believe anything they tell you! It’s a FRAUD! After the first deposit, people are sent to a “retention agent,” who is a smarter con artist who will try to get more money from you.
Your money is never safe with an unregulated broker, so you should make a withdrawal request as soon as possible. And now things start to get hard.
If you want to withdraw your money, they will delay the process for months, whether you have made money or not. If they put it off for six months, you won’t be able to file a chargeback anymore, and your money will be gone for good. No matter how many times you remind them or try to get your money back, you will NOT get them back. And if you signed the Managed Account Agreement (MAA), which basically gives them permission to do whatever they want with your account, they will lose all your money and won’t be able to make any more requests.
How to get your money back?
If you’ve already given them money and they won’t give it back, which is very likely, don’t worry. There may be one or two ways to get your money back.
First, you need to keep the emails as proof that you’ve asked for your money back but they haven’t given it to you or they’ve made the process take too long on purpose so they don’t have to.
You should do a chargeback as your first step. This is something you should do right away! Contact your bank or credit card company and explain that you were tricked into depositing money with a trading company that isn’t regulated and won’t give your money back. This is the easiest way to get your money back and the most painful way for them. Because if there are a lot of chargebacks, their relationship with the payment service providers will be ruined.
What about wires?
You can’t do a chargeback on a wire, which you used to pay them. For this step, you need to take the fight to a higher level. Tell them you will go to the police and file a complaint against them. That will make them think again about giving a refund. You can also write a letter or email to the agencies in charge of rules. Depending on where you live, you can use Google to find the agency in your country that regulates Forex brokers. After that, you can write them a letter or email about how they tricked you.
Is Empire Swiss a Licensed Forex Broker?
Forex trading is a very heavily regulated business. Financial regulatory agencies work closely with governments to make sure that each broker follows the law.
When a fake broker like Empire Swiss doesn’t say where its headquarters are or how the company is registered, it’s hard to figure out where it is. This is done to hide the fact that the business doesn’t have a license or follow any rules.
On its website, all you can find about Empire Swiss is a phone number, which is an Australian number based on the dialing code. So, we can assume that this broker is based in Australia, which is one of the strictest places to do business.
If that’s the case, you can’t be a real broker without a license from ASIC, the Australian financial authority. Empire Swiss is not licensed by this or any other agency that oversees the financial market, which is not a surprise.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Certified companies can be trusted with money, unlike unlicensed brokers, because they follow a strict code of conduct. This is especially true for forex providers who are regulated by top-level watchdogs like the Australian ASIC, British FCA, and German BaFin. For example, ASIC’s rules say that a broker must have a minimum operating capital of 1M AUD and keep its money separate from traders’ money (segregation of funds).
Also, indemnification programs run by regulatory agencies protect traders who work with licensed brokers. For example, if a broker goes bankrupt, ASIC covers traders with a 100,000 AUD indemnity. On top of that, legitimate companies take a number of risk management steps to reduce the risks of trading.
For example, they may offer negative balance protection, which means that a trader can lose more than they put in. They may also work with good banks, offer reliable trading platforms, and make sure that trading conditions are good.
So Is Empire Swiss a Decent Broker or a Scam?
Empire Swiss is an unnamed and unregulated broker that rips off people from the UK, Canada, Australia, the US, and Sweden who trade online.
What Trading Software Does Empire Swiss Offer?
The Empire Swiss portal is a trading platform that can be used here. It is a web trader that doesn’t have a lot of features. This dishonest broker says that its web trader is good for both new traders and more experienced ones. But we’re not sure about that because it has generic features that can’t make sure trading is profitable.
In this case, your best bet is to use the latest trading programs, such as MetaTrader 4, MetaTrader 5, cTrader, and Sirix, which offer advanced tools like expert advisors, stop loss, fast execution, unlimited pending orders, copy trading, and more.
Make sure you write reviews about Empire Swiss on other sites
You can also hurt them and keep other people from falling for them by leaving bad reviews on other sites and briefly explaining what happened. If you have been scammed, please leave a review and a comment in the comment section of this site.
Also, when these people change their website, they usually call their old clients. If they call you from a new website, please note it in the comments or let us know by contacting us. We and families all over the world would really appreciate that. Also, if you get calls from other companies, please leave their names in the comments or send them to us. We will also show them.
Conclusions – Empire Swiss Review
We enjoy writing the Empire Swiss review, and we want to help as many people as we can avoid losing their hard-earned money. Before you do any business with a Forex company or any other company, it’s a good rule of thumb to look at them all carefully.
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