Checking out Empire Swiss Forex broker it’s a scam or not?
Finding a reliable Forex trading partner is not an easy task. Serious brokers operate in the same place as scammers, and it is very important not to fall for the latter. Let's analyze Empire Swiss and check whether they are scammers or not.
Let's check the details
An important attribute of a good broker will be to have a proper postal address and a license. Forex brokers operate all over the world, as the currency market is global. But having a license is important in case of any disputes. Empire Swiss has both a trading license and an office. We are also interested to know when the company was registered and if there are any financial institutions with similar names. Empire Swiss was founded in 2011 and has a valid trading license. This shows that we are not dealing with a fly-by-night company. The company has been operating under its own unique brand for all these years. So we cannot accuse Empire Swiss of brand-skimming.
Empire Swiss is checking us out
Yes, yes! Responsible players in the financial markets identify their customers. They have long been methodically forced to do so by the authorities around the world. Therefore, if a broker is not interested in your identity, or asking you to verify it in any acceptable way, then this behavior is exactly what should be suspicious. We want to know the whole truth about Empire Swiss, and he is obliged to know it about us.
Checking the quotations
Often fraudsters manipulate trading prices to trick their victims. The wretched client trades and trades on the upside, but in the end the "market" turns on him. To control, especially in the beginning, it is a good idea to open an account with a competing broker and see if the quotes differ dramatically. If there were Empire Swiss scams, there is a good chance of catching them manipulating the market in this way. But we didn't find that, which we record as a plus for the broker.
A good broker earns money by servicing their clients' trades, so it is crucial to understand what commissions they charge and for what. Empire Swiss provides a comprehensive description of its commissions on its website. This section is worth a good study. Compare it with how it is described at other brokers.
Checking the withdrawal of funds
The most cunning scammers try to rip off their victims before they try to withdraw money from their account, but there are also more unsophisticated scammers who simply do not return the money.
There are several scenarios for scammers. The first is to insist that they sent the money and to show supposedly electronic bank statements. The second is to say that the payment was sent, but your bank did not process it. That it was stuck somewhere in the interbank market, that the payment system gives a few more days to process it, and that it will take additional days to cancel it. In short, they will procrastinate and then stop responding. The third way is to offer to transfer money to a cryptocurrency wallet. For all the appeal of crypto-assets, transferring money using them is irreversible and difficult to control. It can only be used at your own risk. Empire Swiss offers withdrawals to a bank account and uses SWIFT for international payments. Having affiliate status with SWIFT dispels fears that Empire Swiss does not pay. This company has undergone serious scrutiny. We withdrew money through SWIFT and everything went smoothly. Although we did have to pay a fee for it.
In our search for all the truth about Empire Swiss, we checked the broker on important parameters and made sure that the company works and works clearly. At least we did not encounter any glitches or encounter anything that made us wary. We have been assured that the fear of Empire Swiss not paying is unfounded; the broker executed all our trades as we had planned, the charges for the broker's services were quite reasonable and fully in line with what is described in the broker's rules. Empire Swiss has been operating under its own brand since its inception in 2011 and has not been known for forex broker scams or fraud. However, we advise our readers to always be on their guard and always do their own due diligence on all your financial counterparties.