Swissunion review – Is swissunion.net scam or good forex broker?

 swissunion"Swissunion Review Highlights💰 Leverage 1:400

⚖️ Regulation No

🗺️ Headquarters Switzerland/ SVG

💳 Minimum Deposit $5000

🛍️ Review Rating 1/5

🛍️ Broker Type Forex

🖥️ Platforms n/a

📊 Spread n/a

Swissunion is presented as an award winning Swiss broker with offices in more than 21 countries, offering the best possible trading experience with guaranteed security, fairness and transparency. What is more, along with the comprehensive selection of trading instruments, which come with leverage as high as 1:400 and a user friendly online platform, Swissunion also offers a number of managed account types, which come with fixed assured returns.

So what could possibly go wrong? The answer is everything, because in reality Swissunion is not the legit Swiss broker they want us to believer they are, but a unregulated, offshore website with no credibility whatsoever.

Is Swissunion legit?

No, not only that Swissunion falsely claims to be an award winning Swiss broker, but also it clearly displays every sign of a scam. Better check our list of reliable, UK regulated brokers instead.

Swissunion claims to be headquartered in Zurich, Switzerland, but that is simply not true. For a start, if they were truly based in Switzerland, they should have also been licensed and authorized by FINMA – the Swiss Financial Market Supervisory Authority, and Swissunion is clearly not licensed there. We even made the effort and checked the FINMA registers, but no company by the name of Mira Vital LLC or broker by the name of Swissunion was to be found there. (Mira Vital LLC being the offshore company that we are told to own and operate Swissunion).

Otherwise, in their Terms and Conditions Swissunion confess that their company, Mira Vital LLC, is registered in St. Vincent and the Grenadines – a notorious offshore territory, home to many scam brokers, because of the absence of any regulatory framework in the field of forex trading. Take a look:

As we already noted, Swissunion are not regulated anywhere and that is more than enough to conclude that they are an outright scam.

Can I make money with Swissunion?

No, you stand no chance of making even a single dollar with a unregulated, offshore website like Swissunion, which on top of that bears all the hallmarks of a scam. Better check our list of trusted, EU regulated brokers instead.

Apart from not having a legit forex license, the signs that Swissunion is a scam are numerous, so we will start with the most obvious one. In the right corner of our next screenshot you may notice two seemingly benign looking icons – the red one representing AnyDesk, while the blue one – Team Viewer. Take a look:

Those are remote desktop applications, designed especially to help users access their home PC environment from anywhere over the internet. Obviously, under some pretext Swissunion will invite you to download and install one of the applications and share the installation details.

If you do that however, the scammers running the website will gain instant access to all of your files, including all the banking information stored there, like credit card numbers and online banking passwords, and that will enable them to steal money directly from your bank account. As simple as that.

That however is not all. We have a problem as well with the so called managed accounts Swissunion also says to be offering. Take a look:

Swissunion offers what they call Blended, Dedicated and Fixed Income Portfolios, where they assure you that they will be “managing your investments to help keep you on track”.

To start with, Swissunion has no legit forex license, not to mention any banking or asset management license to be offering service like this. On top of that Swissunion are presented as a forex and CFD broker, which basically means that they act as market makers and make their money whenever traders lose. So obviously, if you let market makers to manage your trading account, they well have all the reasons to mismanage it and lose everything for their own profit. This is a fine example of a conflict of interest.

Finally, we should mention as well the generous trading bonuses offered by Swissunion. Bear in mind that trading bonuses, as offered by offshore scammers, always come with strings attached and as a rule are used as an excuse for canceling your withdraw requests.

As evident from Swissunion’s Terms and Conditions, “in case the Client has received a credit bonus and wishes to make any withdrawal, the Client must first have traded the specified volume as required by the ‘Bonuses’ stipulation. If the Client has failed to trade at the required volume, his withdrawal may be canceled”. See for yourself:

And what will you say if we tell you that Swissunion also reserves the right to change their bonus policy as they please, whenever they feel like to. “The Company maintains the right to change the terms of the bonus policy at any time”, Swissunion’s Terms and Conditions also read. Take a look as well:

What that basically means is that Swissunion will be able to increase your minimum trade volume anytime you somehow manage to get near it, making it virtually impossible for you to meet their so called withdraw criteria. As simple as that.

What is the minimum deposit requirement at Swissunion?

The minimum deposit requirement at Swissunion is said to be as high as 5000 USD, and since they are clearly involved in scam, here you may check as well our list of brokers, offering micro accounts, where you won’t need to deposit more than 250 USD initially and you will be able to trade in micro lots of just 1000 base currency units.

As for the rest of the standard account types – the Silver, the Gold and the Platinum, Swissunion requires 15 000 USD, 25 000 USD and 50 000 USD respectively.

And as we already mentioned Swissunion also offers a couple of managed account types – Blended, Dedicated and Fixed Income, which come with a minimum deposit requirement of 75 000 USD, 150 000 USD and 250 000 USD respectively.

What leverage is available at Swissunion?

Swissunion says to be offering leverage as high as 1:400, but because the website is obviously involved in scam, here you may check as well our list of brokers offering leverage as high as 1:500 instead.

What trading platforms are available at Swissunion?

Swissunion says to be offering a professional and user friendly web based platform, but since we were not able to access it and because we are dealing with outright scammers anyway, here you may check as well our list of brokers, supporting MetaTrader4 – along with its powerful successor MetaTrade5, still one of the most widely used platforms in the forex industry, 16 years after it was launched back in 2005.

What payment methods are available at Swissunion?

Swissunion says to accept major cars like VISA and MasterCard, but because we were not able to confirm this and because, as we already noted, the website displays every sign of a scam, here you may find as well our list of brokers, processing credit cards for real."