Before we start, let us have a look at the store strategy of SwissFXM. The company offers users a wide variety of methods to store their assets, including bank transfer, cryptographic money transfer, and Visa. They can do this without paying any store charges. The same store strategy is also used for withdrawals. To make a withdrawal, a user must first request it in the client area. Then he or she must confirm that the process is legitimate.
SwissFXM is a pyramid scheme
If you’ve ever wondered whether SwissFXM is a scam, you’re not alone. The company requires its new recruits to pay a down payment before they can start earning commissions. In reality, SwissFXM is a pyramid scheme that takes advantage of unsuspecting members with false promises.
A pyramid scheme is a type of network marketing scheme in which the participants recruit others to join them. This process continues until the pool of participants runs out and the pyramid structure collapses. Those involved in a pyramid scheme will lose money. In many cases, the top level operatives will walk away with large sums of cash, leaving the rest of the participants unable to participate in the scheme.
It cooperates with automated trading software
SwissFXM offers a wide variety of trading accounts. These include Standard, Micro, Premium, Silver, and Bronze. These accounts may seem similar, but in reality they vary considerably. In order to open a trading account, you must deposit at least 250 EUR. However, most reputable, licensed brokers allow lesser deposits.
Although SwissFXM claims to be a world-leading forex brokerage, their legitimacy is a big question mark. As a result, you should avoid opening a trading account with them. Their terms are confusing, and they require high trading volumes. Moreover, their withdrawal fees are astronomical.
It offers a minimum deposit of $250
SwissFXM is a forex broker that claims to offer a wide range of trading accounts. Their website lists three types of accounts: Micro, Standard, and Premium. However, it’s important to note that their minimum deposit is not $250. In fact, many other leading licensed brokers allow you to start trading with far lower amounts.
SwissFXM offers three different account types with different features and benefits. The Standard account, for instance, only requires a $250 minimum deposit and provides access to all brokers’ platforms. This account is best for new traders and beginners. However, if you’re more experienced, you should consider opening a VIP account.
SwissFXM’s spreads start at one pip on EUR/USD, which is a fairly decent level for this type of broker. Unlike many scams, SwissFXM doesn’t advertise its spreads. It also claims to accept bank wire and credit/debit cards as a deposit method. However, the company doesn’t disclose whether it charges for transfers or inactivity fees.
It charges a 20% upfront withdrawal fee
A typical scam involves a broker asking you to pay an upfront withdrawal fee. This is usually hidden in the small print or other documents provided by the broker. However, SwissFXM does not present such documents. Moreover, they do not give any details on their policies or how they handle client deposits. Therefore, if you sign up for an account with SwissFXM, you should be wary of its practices.