Is SwapBridge Trustworthy? A Detailed Review of swapbridge.co

SwapBridge belongs to the category of fraudulent organizations, as despite the broker’s numerous promises of profitable and safe trading, clients still encounter hidden fees and violations of the user agreement. There are positive reviews online where people claim they were able to withdraw their money, and the platform’s functionality meets global standards. However, upon closer inspection, it becomes apparent that these are purchased articles, having nothing to do with reality. By reading this SwapBridge review to the end, you can ensure it’s best not to start cooperation with this broker as there’s a risk of simply losing all your savings.

Is SwapBridge a Trusted Broker?

The main page of the website is quite template-like, and although it seems to contain a lot of information, in reality, it’s of no practical use, as the broker has only published advertising for its project without any evidence of SwapBridge’s popularity and demand. The company also fails to mention having a license to provide brokerage services, although such data is usually publicly available for clients to review and verify.

In the contact information section, only a phone number and an email address are provided. SwapBridge doesn’t even have its own office. Upon checking the provided phone number, it turns out to be invalid, making it impossible to contact the company representatives via phone for prompt issue resolution, forcing users to wait for email responses.

The minimum deposit for a bronze account on SwapBridge is stated as “up to $2499.” It’s unclear how much needs to be deposited to start trading on this platform. Although the price for premium accounts is clearly indicated.

There’s no separate section on the website dedicated to legal information; the user agreement can only be found in the footer. Additionally, the verification procedure on the site is quite complex. To be able to trade here, you need to provide passport details, recent utility bills, and photos of the bank card used for depositing and withdrawing funds. Of course, such identity verification procedures are usually standard for brokers, but only if they are genuinely registered companies, not anonymous websites like SwapBridge.

Forex broker SwapBridge.co also states that it may request notarized copies of the trader’s documents if necessary, although the company itself does not provide them in the legal information section. Most likely, this was done to delay the payout process because at any time, employees may ask for additional documents to verify identity, which could take several more days, after which the user may be denied the withdrawal of funds.

Concerned About Withdrawal?

For a novice, it will be difficult to understand the available methods of depositing and withdrawing funds because SwapBridge did not create a separate section on the website dedicated to this information. Possible deposit and withdrawal options can be found in the user agreement. Traders can use a bank card or an electronic wallet to perform financial transactions on the platform. The processing time for a withdrawal request is up to 7 days.

How Long Does The Broker Work?

The actual operating period of the broker is quite short. The project started its activity on November 11, 2023. We noticed that this trading platform has changed its domain. Previously, they operated under the address SwpBridge.pro. Now, the broker serves clients through SwapBridge.co.

It’s easy to assume that issues arose with the previous domain, as many regulators have already issued warnings labeling SwapBridge as a scam.

Other Signs of Fraud

❗Dubious points in the user agreement. The broker indicates that the client’s first deposit will serve as collateral on the platform, and the trader will only be able to withdraw it back in the event of termination of the agreement with SwapBridge.

❗The need for a written request for withdrawal. Another quite suspicious point in the user agreement in which the broker informs about the need to submit a written request to withdraw funds from the account that are not collateral.

❗Withdrawal of funds using cryptocurrency. Such a method of withdrawing funds is rarely used among reputable and reliable companies, but SwapBridge is not among them and informs its clients that if they want to withdraw money from the account in a certain currency, and it is not available, then the request will automatically be processed in cryptocurrency, regardless of whether the trader finds this method of withdrawing funds convenient or not.

SwapBridge Review Conclusions

SwapBridge is considered one of the fraudulent organizations. Its activities are not regulated, and the user agreement violates all possible global standards. The platform has many negative reviews from customers, and it is almost impossible to withdraw money from there.

Advantages and Drawbacks

➕Modern website design and attractive layout.

➖Unclear cost of the basic tariff plan.

➖The broker can use the client’s deposit as collateral.

➖Lack of license and registration.

FAQ

Brief Conditions

Type	Forex
Location	❌
Establishment Year	2023
Regulation	❌
Customer Service	❌
Languages	En
Demo Account	❌
Mobile Trading	✅
Web-based Trading	✅
Bonuses	❌
Minimum Deposit	Up to $2,499
Max. Leverage	1:100
Scalping Allowed	✅