Aswissa Review – Is this a Trustworthy Broker?

Aswissa Review

Signing up with an online broker is not a decision that anyone should take lightly. This is because the brokerage serves as your trading partner, since they provide you with the platform, tools and the conditions required for trading.

Most importantly, you have to trust them with your hard-earned money, which they need to keep safe, and also protect your personal information. With so much at stake, you cannot just trust any random company, as there will be consequences. This Aswissa review can tell you the kind of problems that you can face when you do not do your homework.

Not every broker that operates in the financial markets is trustworthy and reliable. Sure, they may make big promises and claims, but this does not necessarily make it true. In fact, it is what cons do to attract people to their platform.

These fraudulent and shady brokerages have become rampant in the markets of late, which means you have to be extremely cautious if you do not want to end up losing your money. Finding a trustworthy broker means that you be diligent and not just opt for any company because of what they are promising.

You should be wary of their claims and also not depend on the opinion of others, until you have done verification yourself. On the surface, a company can check all the right boxes and create the best impression, but once you dig deeper, their story will fall apart.

This is something you will see when you check out Aswissa, a brokerage that makes a lot of promises from easy withdrawals to the best trading software. The reality, on the other hand, turns out to be drastically different. How? You can discover the problems with Aswissa here.

Licensing and regulation

Starting with a look at the licensing and regulation of a brokerage should be your top priority. This is because it is the clearest indicator of a broker’s trustworthiness; a licensed and regulated company is accountable and can offer you fair, transparent and quality services that can help you focus on your trading activities and achieve your goals.

In addition, it gives you peace of mind because you know that the broker is not going to just up and vanish with your funds and is actually a reliable and authentic company. Therefore, the fact that Aswissa is not regulated and licensed is the first reason you cannot trust it at all. Sure, it does make claims of regulation, but it is not really the truth.

According to Aswissa, it is regulated in the UK by the Financial Conduct Authority (FCA) and also by the Australian Securities and Investment Commission (ASIC), along with the Financial Services Authority (FSA) in Seychelles.

You can check the online registers of these regulatory authorities and not find Aswissa mentioned at all. Moreover, the brokerage also breaks the rules of these institutions.

First off, crypto CFDs are available at Aswissa, which are not permitted in the UK and have been banned by the FCA. Next, the leverage ratios that are offered by the brokerage are also higher than what is allowed in these jurisdictions.

Bonus policy

The next indication that you are not dealing with a trustworthy brokerage where Aswissa is concerned is the fact that it is offering trading bonuses to its clients. This should be considered an advantage, but trading bonuses have been banned in many jurisdictions including the UK, so the broker should not really offer them.

This is because these bonuses usually come with strings attached that are malicious in nature and aimed at preventing traders from withdrawing their money. The same is the case with Aswissa because its bonus policy turns out to be downright malicious. It claims that traders will not be permitted to withdraw profits that are generated via their bonuses.

The problem with this clause is that Aswissa does not have any method to distinguish the profits traders make from their bonuses and from their deposits. The primary goal of this policy is to block withdrawals and this it will accomplish without any problems.

Trading software

It is also essential to check the trading software of a brokerage because it is the feature you use for trade execution. Without the software, you cannot do any trading, so you need it to be innovative and cutting-edge that allows you to trade in a hassle-free manner. The problem with Aswissa is that it offers a basic web trading platform that has nothing special to offer.

It has very basic charting tools and a limited interface, with no automated trading to offer. It does not boast any tools that professional platforms like the MT4 and the MT5 offer. This is another reason that you cannot depend on Aswissa for your trading.

Leverage

The leverage ratios that you will find at Aswissa is another reason that the broker is not worth trusting. The ratios are as high as 1:200, which is excessive as most jurisdictions do not permit leverage of more than 1:30, or 1:50 to retail traders. This is also applicable in the case of the UK and Australia, where the broker claims to be based.

These leverage ratios are considered very risky and can lead to hefty losses, due to which a cap has been imposed, but Aswissa is offering higher levels to draw people in.

Minimum deposit

If you check out the minimum deposit requirements at most professional brokerages, you will find that they are allowing their clients to open accounts for as low as $10. But, this does not appear to be true in the case of Aswissa at all because it is asking for a minimum deposit of a whopping $15,000.

This is downright excessive and should send alarm bells ringing because, as mentioned above, its bonus policy will not let you make withdrawals. The standard deposit asked by brokers is not more than $250, but this is definitely higher than that.

Conclusion

With these glaring issues, it is apparent that Aswissa is not a trustworthy broker.