ANSWER If a forex broker is unregulated, its promises cannot be trusted. Not only is SwissTrades365 unlicensed, but it also falsely claims to have being regulated, which is a significant indicator of a scam.Despite its claims of being regulated by three major financial regulators, our checks with the relevant authorities reveal that these claims are unfounded. There are no records to back up its assertions. Moreover, the Federal Financial Supervisory Authority (BaFin) has issued a warning against SwissTrades365 due to its lack of proper authorization, further highlighting the broker's unreliability.Given these facts, SwissTrades365 is far from a secure option. Engaging with this unlicensed broker could result in financial losses. Furthermore, in the event of any issues, investors may not be able to protect their interests as there are no regulations in place. To mitigate such risks, it is advisable to choose fully regulated brokers instead of unregulated ones like SwissTrades365.
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