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Swiffbit

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Operating status: SCAM

Website: https://www.swiffbit.com/

Broker violations and abnormal records
  • 2023-06-04 The UK FCA issued a warning against Swiffbit

    On June 5, 2023, the Financial Conduct Authority (FCA) issued a warning against Swiffbit, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/swiffbit

    On June 5, 2023, the Financial Conduct Authority (FCA) issued a warning against Swiffbit, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/swiffbit
  • 2023-06-05 BrokersView has reviewed that Swiffbit is an unregulated broker

    Swiffbit claims to be regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Sector Conduct Authority (FSCA), but our search for this company in these two agencies' registries didn't yield any results. This is a red flag. In addition, Swiffbit also purports to be regulated by the Financial Conduct Authority (FCA), which is denied by the warning issued by the FCA against it.

    In essence, Swiffbit is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    Swiffbit claims to be regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Sector Conduct Authority (FSCA), but our search for this company in these two agencies' registries didn't yield any results. This is a red flag. In addition, Swiffbit also purports to be regulated by the Financial Conduct Authority (FCA), which is denied by the warning issued by the FCA against it.In essence, Swiffbit is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

Is Swiffbit regulated in the UK?

Kondrat Yurii
United Kingdom
2023-07-04
ANSWER Swiffbit is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.Swiffbit claims to be regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Sector Conduct Authority (FSCA). However, our search for this company in the registers of both two authorities didn't yield any results, indicating that the claim is a false statement.Additionally, Swiffbit claims to be regulated by the Financial Conduct Authority (FCA), which is denied by the UK financial watchdog in a warning against the broker.Regarding your question, Swiffbit isn't subject to any regulation and thus carries significant risks, including financial losses and identity theft. Once your information and money are held by the platform, there are no rules in place to safeguard them. Therefore, we strongly suggest investors stay away from unlicensed brokers like Swiffbit and instead choose a fully regulated one to mitigate such risks.
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