The apparent online broker Swinexmarkets sells itself as a reputable platform for online trading. However, there is increasing information that Swinexmarkets is not doing things by the book. More and more traders are reporting telephone terror, rip-offs and investment fraud at Swinexmarkets. All of them have lost their capital invested with Swinexmarkets. Doubt is the order of the day. Meanwhile, many Swinexmarkets traders are worried that it is an investment scam. The Swinexmarkets website has been shut down. All Swinexmarkets investors are wondering if they have become victims of investment scammers? And what can Swinexmarkets investors do if the suspicion of investment fraud is substantiated? Will Swinexmarkets investors get their money back? Does it make sense to file a criminal complaint against Swinexmarkets with the police? What help is available in case of investment fraud?
Swinexmarkets: Dubious affirmations on swinexmarkets.co!
What must the astonished visitors receive on the Swinexmarkets website? "Swinexmarkets Group is licensed by ASIC in Australia (Trading Point of Financial Instruments Pty Limited), IFSC in Belize (Swinexmarkets Global Limited) and CySEC in Cyprus (Trading Point of Financial Instruments Ltd) and adheres to enhanced regulatory standards. We have clients from over 196 countries and staff who speak over 30 languages. Our management has visited over 120 cities worldwide to understand the needs of our clients and partners. Size does not matter. At Swinexmarkets, the client comes first, regardless of their net worth, type of account or size of investment. All our clients receive the same quality of service, the same level of execution and the same level of support. Swinexmarkets was founded on these values, and that will not change." This is just a small sample of the questionable promises that the curious can find on Swinexmarkets' website. None of these full-bodied promises by Swinexmarkets have been kept. Unpleasantly, the dubious business practices rather make for disappointed traders and miserable experiences!
Swinexmarkets: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Swinexmarkets makers is that the website did not contain any imprint with full details of the legally responsible operators of the website. If one looks at the corresponding domain data of the website www.swinexmarkets.co, one finds no reference to the operators there and finds that the website was only registered on 31.05.2020 and that the real domain owners are hiding behind the Icelandic anonymisation service Withheld For Privacy Ehf.
Swinexmarkets: Who is behind it?
Answering this question will be rather difficult for many investors, as the Swinexmarkets makers do everything they can to conceal the true circumstances. This is not unusual, however, as the perpetrators often operate several of these websites with the supposedly same business model and quickly put them online, but also shut them down again just as quickly, as has already happened in this case. In many cases, the top-level domain is also frequently changed, possibly also in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? On the website www.swinexmarkets.co there was only scanty information about this. At the end of the website, one could only find the following note: "This website is operated by Swinexmarkets Global Limited with registered address at Kärntner Strasse 34, 9500 Villach, Austria". At Kärntner Strasse 34 in Villach you can find the ATRIO Shopping Centre, but there is no trace of Swinexmarkets.
In addition, Swinexmarkets tries to give the impression of being regulated by official supervisory authorities. For this purpose, the company joins a list of subsidiaries of Trading Point Holdings Ltd. However, while these companies are real and have the appropriate licences, Swinexmarkets Global Limited is not. It is neither a subsidiary of Trading Point Holdings Ltd nor does it have the corresponding licence.
Swinexmarkets: The customer acquisition of the investment fraudsters
The same procedure can be found here again and again: In order to attract new customers, the offers of Swinexmarkets are propagated in all possible media and channels. For example, advertisements are placed in the social media, such as Facebook. Often, these recommendations are false claims. To increase the deception, they upload films on Youtube or Vimeo in which interested traders are convinced with fictitious references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with the erroneous reference to the TV show "Die Höhle der Löwen". With the same goal, a mostly aggressive affiliate programme is started to incite others to intensively promote Swinexmarkets.
Swinexmarkets: Criminal business practices!
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Investors usually start with a small amount of money. Beforehand, investors are often motivated to install remote maintenance software, such as Anydesk or Teamviewer, on their computers so that assistance can supposedly be provided with the first steps. In many cases, the computer is manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?
Swinexmarkets: Repayment of money is linked to conditions
However, an exit is then usually no longer possible, rather a repayment of the money is linked to further deposits. This is where the employees come in, claiming alleged tax debts and commission payments. These would first have to be settled, then the alleged profits would be paid out. For this purpose, tax and commission invoices are sent to the investors, which are often decorated with fake coats of arms and of course have to be paid urgently. However, it is never possible to offset them against the supposedly achieved profits. If one refuses to make these further payments, the supposed profits are often turned into losses and the customer is harmed to the maximum. However, this is usually not the end of the horror. Investors are often permanently confronted with calls from other dubious providers, which indicates that the investors' contact details are further traded among the investment scammers. In the end, the "saving angel" regularly calls claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course the "saving angel" also wants a small fee - in advance!
Swinexmarkets: Scheme of investment fraud?
There is no authorisation of the trading platform Swinexmarkets. Swinexmarkets lacks the regulation of a recognised European supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from the FCA dated 24.01.2022. It is not difficult to see that Swinexmarkets is a scheme of capital investment fraud. All victims of Swinexmarkets are advised to consult an investment fraud lawyer as soon as possible.
Swinexmarkets: Where are the fraudsters active?
The illegal activities of Swinexmarkets were unfortunately not limited to the English-speaking world. Because Swinexmarkets also addresses German-speaking investors, it is only a matter of time until the defrauded investors of this speaker group also come forward. Going through the list of regulators is advisable before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.
Swinexmarkets: Investors want their money back!
The situation is far from as hopeless as it seems. The aggrieved investors can defend themselves and reclaim the money they invested. At the moment, it is not expected that the Swinexmarkets investment fraudsters will be caught in the near future, but there is still reason to hope. Hope because the money flowed through accounts that were actually provided by reputable financial institutions. Those responsible apparently failed to check the traders' deposits, some of which were high and therefore subject to controls, and their onward transmission for illegality. Such delays made the investment fraud possible in the first place.
Swinexmarkets: They want their money back! How does it work?
Equipped with this knowledge, no one would have entered into a business relationship with Swinexmarkets. Now the only way left for the victims is to seek compensation for the loss. Many investors cannot even imagine that there is any real chance of ever seeing their money again. Definitely yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where we start with good prospects of success. First of all, essential points have to be clarified. To which destination have the funds embezzled by Swinexmarkets been taken? Is there a possibility that the victims of the investment fraudsters will get back their money invested with Swinexmarkets? What precautions are now due? A lawyer specialised in investment fraud will best answer such questions.
Swinexmarkets: Who can help?
What to do in case of investment fraud? What help in case of investment fraud can the victims of Swinexmarkets hope for? Swinexmarkets victims will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your Swinexmarkets case both in terms of the criminal aspects of the investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility, because he is also familiar with the methods of fraudulent brokers such as Swinexmarkets.
Swinexmarkets: Follow the money!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating abuses of this kind on the gray capital market for over 30 years. As a result, the Swinexmarkets procedure is nothing really new. Over the years, Resch Rechtsanwälte has developed an efficient arsenal of instruments for tracking down stolen funds and tracing the flow of funds. Making funds actually disappear is becoming increasingly costly in the age of the Internet. The quicker investors follow the money trail, the better the chances that they will see their invested capital again. Above all, it is important that those who have been harmed by Swinexmarkets take immediate action.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have been a victim of Swinexmarkets and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.