SwiftCFD Review

Is SwiftCFD Scam or Legit Broker?

No, it is not safe to trade with SwiftCFD. SwiftCFD is owned by Digital Enterprise Ltd., an offshore company registered in the Marshall Islands.

• The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as YFX Capital, Pinprotrade, and more.

What is SwiftCFD?

According to the website, SwiftCFD is an innovative consumer trading company offering clients an easy and intuitive way to trade all the major financial markets including Forex, Commodities, Indices, or Stocks. There is another company behind the brand's name, Digital Worldwide OU, registered in Estonia. However, the company is not authorized by Estonia's Financial Supervision Authority.

• The other brand of the Digital Worldwide OU, RoyalCFDs, that we have previously reviewed, along with the company been banned by the UK's Financial Conduct Authority in October 2018.

• Both brands' websites (RoyalCFDs and SwiftCFD) interfaces look quite the same, no wonder, the regulator has also blacklisted SwiftCFD:

  "This firm (Swift CFD, a trading style of Digital Worldwide OU) is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization."

   

SwiftCFD Review Conclusion

We strongly advise all investors and traders to avoid SwiftCFD or any other brand of the Digital Worldwide OU. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BlackBull Markets and BDSwiss.

SwiftCFD Update

Our research revealed that the SwiftCFD website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.