Swiftcfd.com Review Is Swift CFD Scam or Should I Trust This Broker

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SwiftCFD Review – is swiftcfd.com scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Min. trade size Max. leverage Spread
Regular $500 0.01 1:100 3 pips, fixed

Forex and CFD broker SwiftCFD offers a Regular trading account plus some Premium ones that require an initial investment of $10k and more. There are also swap-free accounts for clients of Islamic belief.

Overall, its trading conditions are not very attractive, but what bothers us most is the low level of credibility. Read on to get all the details.

SwiftCFD Advantages

Wide range of financial instruments, including cryptos

SwiftCFD’s product portfolio is quite rich and diversified. It includes many currency pairs, and various CFDs: on indices, commodities, stocks, and cryptocurrencies. The latter group features Bitcoin, ethereum, Ripple, Dash, Litecoin, Bitcoin Cash, Monero, Bitcoin Gold, Stellar Lumens, NEM, Waves, Tron, Golem, Lisk, Ada, SiaCoin, and more . These are traded against USD, EUR, GBP

Nonetheless, we would advise those of you who are into cryptocurrencies to select a more reliable broker. SwiftCFD is not regulated and not to be trusted.

SwiftCFD Disadvantages

Registered offshore and most likely a scam

SwiftCFD is another brand of Estonian company DIGITAL WORLDWIDE OU, whose official registration is on the notorious address Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The other brand of the company is RoyalCFDs – a forex and CFD brokerage that seems to have swindled a lot of investors out of their money, judging by the numerous complaints on our site and through the web. Here you may take a look at some of them:

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In case you don’t believe these investors are telling the truth, you will probably trust governmental agencies. Two of them have explicitly blacklisted DIGITAL WORLDWIDE OU and its RoyalCFDs brand – the Estonian Financial Supervision Authority (EFSA), and the UK financial watchdog, the FCA.

Does not support the MT4

Although SwiftCFD claims to support the ever popular MetaTrader 4 (MT4) platform, it is in fact not available for use.

Instead, trading is done via the same web-based platform RoyalCFDs offers. Although this platform is not bad, it still lacks many of the advanced tools of the MT4. Most notably, SwiftCFD’s platform does not offer any automated trading options.

High cost of trading

First of all, RoyalCFDs demands an initial deposit of $500, which is at least double the size of what most brokers require as a start. Second, although it claims to offer spreads as low as 0.6 pips on EUR/USD, in fact the spread for this pair is fixed at 3 pips.

Even for fixed spread standards, this is a high level. As a comparison, easyMarkets offers a 1 pip fixed spread on the most popular pair, to those clients who deposit more than $250.


SwiftCFD is another brand of the company behind RoyalCFDs. It has been blacklisted by several financial regulators, and the web is full of complaints against this broker. That is why we strongly advise you against dealing with SwiftCFD and any other brand DIGITAL WORLDWIDE might launch.

It is always best to deal only with properly regulated brokers and check the authenticity of their licenses in the registers of the respective financial authority or with us on forexbrokerz.com. Doing business with licensed brokers has a lot of advantages – they are obliged to follow a strict set of financial and ethical rules. Some of these include providing negative balance protection to their clients, keeping all of the invested capital segregated accounts, maintaining some minimum capital adequacy ratio, allowing external audits, filing regular reports and in certain cases even insuring traders’ money.

To sum up our review on SwiftCFD:

Pros Cons
Wide range of financial instruments, including cryptos Registered offshore and most likely a scam
MT4 not available
High cost of trading
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

SwiftCFD Review – 5 things you should know about swiftcfd.com

Beware! SwiftCFD is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

SwiftCFD is an offshore, forex and CFD broker, which is not authorized to provide its services on regulated markets.

On top of that the broker says they are supporting the MetaTrader4 platform, which is one of the best trading solutions on the market, but when we tried to download the platform, it tuned out the link is not available. So we had no choice, but to try their web based trading platform, which was overly simplified, bearing resemblance to the platforms usually used for binary options bets.

And what we saw on the platform did not impress us either. The benchmark EURUSD spread was fixed at 3 pips, which is at least twice higher than what traders would usually expect with a standard account.

Leverage was caped at 100:1 and probably the only positive point was the selection of trading instruments – over 50 forex pairs with some exotic currencies like Danish Krone, Norwegian Krone, Hungarian Forint, Polish Zloty, Turkish Lira, Hong Kong Dollar, Mexican Peso, Swedish Krona, Russian Ruble, Singapore Dollar, South African Rand and Indian Rupee, as well as CFDs on precious metals like silver, gold, platinum and palladium, commodities like copper, cocoa, corn, wheat, coffee, sugar, cotton, orange, soybean, oil and natural gas, stocks, some 21 indices and even major crypto coins, including Bitcoin, Litecoin, Dash, Ethereum, Ripple, Litecoin, Bitcoin Cash, Ethereum Classic, Bitcoin Gold, Monero, Verge, Swisscoin, Cardano, USD Tether, Stellar, NEM, Qtum, Lisk, Golem, Tron and Wavecoin.

Our biggest concern, however, remains the brokers regulatory status, which we will discuss in the following paragraphs.

SwiftCFD regulation & safety of funds

There are two companies behind SwiftCFD – DIGITAL WORLDWIDE OU, which is based in Tallinn, Estonia, and Digital Enterprise Ltd, based on the Marshall Islands. Unfortunately both companies are not authorized to provide financial services on regulated markets like Europe, the USA, Australia or Japan and that significantly decreases the brokers credibility.

Have in mind that only brokers, regulated by reputable institutions such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) do guarantee the security of your investment.

Among other requirements, properly regulated brokers have to provide negative balance protection to their clients, to keep their money in protected, segregated, trust accounts, to allow regular external audits, to maintain a certain minimum operational capital and in some cases even to insure traders funds.

Thus for example, traders with FCA regulated brokers will be compensated with up to 50 000 GBP in case their broker is unable to pay. Similarly, traders with CySEC brokers are entitled to a compensation of up to 20 000 EUR.

SwiftCFD deposit/withdrawal methods and fees

SwiftCFD accepts payments with major credit or debit cards like VISA and MasterCard, as well as PayPal and Bitcoins. The minimum deposit requirement is 500 USD, which is twice higher than what most brokers ask for with standard account.

Be aware as well, that if you accept a trading bonus, your right to withdraw will be subject to some minimum trade volume requirement.

With SwiftCFD we were not able to check their Terms and Conditions, because strangely, all legal documents were for a different broker – ROYALCFDS.

How does the scam work?

Scammers often use the so called robo scam websites like Crypto Revolt and Bitcoin Evolution, where you might get hooked by a well cut video add, promising you guaranteed, fast and easy returns in exchange of small investment.

And actually all you will have to do is fill the simple registration form, leaving your e-mail and phone, after which you will be transferred to the web page of an offshore, scam broker, where you will be asked to deposit about 250 USD.

And take a note that your first trades will turn out surprisingly profitable. That, however, will happen not because of your trading skills, but simply because your account will be manipulated – that way scammers will have a much better chance to trick you to invest a larger sum.

And you will receive a phone call as well. It will be “your senior account manager”, who will plainly explain you, that if you want to make some real big cash, you will simply have to invest more – like 10 000 USD for a start.

Chances are you will invest those money as well, and you will not realize that you have been scammed until the moment you decide to withdraw some of your funds. Scammers will simply refuse to send you any money back on the grounds that you have not completed some minimum trade volume requirement, you have agreed with without noticing, when you have accepted your welcoming bonus.

Of course the pretext might be different, but the result will be the same – you will not see a single penny back.

What to do if scammed?

Unfortunately, if you are a victim of scam there are just a few things that you can do and the first one is to immediately file for a charge back with your credit card company. The good news is that recently MasterCard adopted some new anti-scam rules and now you will be able to file for a charge back within 540 days after you have made the payment. The same policy will be adopted by VISA in December, while Skrill, the online payment service, is planning to ask brokers for their licenses before allowing them to use the service.

Beware that scammers might have tricked you to give them your credit card number or online banking password. If you have given away your banking details for any reason, immediately cancel your credit card and change the password for your online banking service.

Finally, if scammers have stolen money from you, do not seek the services of the so called recovery agencies. They will not render you any service, but will simply collect a payment in advance and basically that will be the end of the story.

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