Do You Want to Know If Swapnex Is Legitimate or a Scam Broker?
At the end of a movie, often the defeated villain will say, “You haven’t heard the last of me.” That is usually the producer who is threatening a sequel. In the case of Swapnex, well, we didn’t hear the last from them after their apparent demise. Swapnex is back, although they will only let you look at their site if you sign up for an account. Then, they claim that their former customers can get their funds back but only if they deposit $200 and open a new account. Fool us twice, shame on us!
There Are Some Problems with Swapnex
We understand why so many people fell for this scam. It seemed absolutely legitimate. It offered a lot of perks, had an active social media presence and offered tools for traders. However, when cryptocurrency took a hit, it was clear Swapnex didn’t have sufficient market capitalization. It also wasn’t really trading client funds and was nothing more than a Ponzi scheme. When customers made withdrawals, there was no money to give them…it had been spent or laundered.
Red Flags that Swapnex Could Be a Scam Broker
- No license
- Recycled Ponzi scheme
- No transparency
- False claims
- Bad reviews
If You Need Fund Recovery from Swapnex, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with Swapnex, close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.