Regulation
We couldn’t find an address, but the company behind the brokerage is registered in the Marshall Islands, according to the website.
The company behind the brokerage is registered with the name Swiss Investment Corporation LTD. The Marshall Islands has become a top-destination for would-be scammers due to its very liberal laws regarding the registering of companies.
It’s safe to assume that the company behind the brokerage, irrespective of its legitimacy, does not fall under any regulatory oversight because the government of the Marshall Islands does not include Forex trading within its regulatory framework.
Deposit / withdrawal methods and fees
Traders may deposit or withdraw only via the standard Visa, MasterCard and wire transfer.
We discern that there is a dormant account fee of 10 percent each month for traders that have not logged on or traded for more than six months. Such fees are regular in Forex trading as they force the trader to execute trading deals.
Furthermore, we read that the brokerage charges a withdrawal fee of $30 for every withdrawal following the first each month. Furthermore, the brokerage also posits a minimum withdrawal amount of $100. Such provisions are excessive and unacceptable in Forex trading – legitimate brokerages may charge some sort of a withdrawal fee but requiring a minimum withdrawal amount should be viewed always with suspicion.
There is a requirement for a minimum trading volume in order to withdraw from an account that has taken advantage of the bonus promotion. We urge readers to take notice that almost always a bonus promotion, especially with unregulated brokerages, is tied with extreme trading requirement conditions which make it almost impossible to withdraw your money.
This is why we always advise traders to put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.
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