Overview of Swiss Vests
Swiss Vests Ltd., founded in 2022 in Saint Vincent and the Grenadines, is an unregulated broker offering trading in Forex, Metals, Indices, Cryptocurrencies, Commodities, Energies, and Stocks. It requires a $250 minimum deposit and offers leverage up to 1:400. The web-based platform supports Basic, Intermediate,Advanced,VIP and ELITE account with spreads from 0.0 pips for VIPs. A demo account is available, but not an Islamic account. Customer support is via phone, email, and live chat, with payments accepted through bank transfers, credit/debit cards, and cryptocurrencies.
Pros and Cons
Swiss Vests provides access to seven different asset classes, including Forex, Metals, Indices, Cryptocurrencies, Commodities, Energies, and Stocks. The platform ensures 24/7 availability for cryptocurrency trading and features five distinct account types. The Elite account offers no commissions, and the presence of contact form adds to its customer service appeal.
However, Swiss Vests is not regulated by any financial authority. The high minimum deposits required for higher-tier accounts could be prohibitive for some traders. There is limited information available regarding spreads, which can impact trading cost transparency. Additionally, the payment methods are not clearly defined, and there is a lack of educational resources.
Is Swiss VestsLegit？
Swiss Vests is not regulated by any major financial authority. It operates from an offshore location in Saint Vincent and the Grenadines, under the company name OnlineWindows LLC. This lack of regulation means that there is no oversight from recognized financial authorities to ensure the security and fairness of your transactions.
Market Instruments
Swiss Vests offers Forex, Metals, Indices, Cryptocurrencies, Commodities, Energies, and Stocks.
With Forex trading, clients can access major, minor, and exotic pairs with leverage up to 1:400. Cryptocurrency enthusiasts can trade over 50 cryptocurrencies 24/7/365, while Indices trading allows access to popular indices like the SP500 and CAC40 with leverage up to 1:400. Commodity trading is simplified, offering products such as Corn, Coffee, and SoyBean. Moreover, Metals trading provides leverage and competitive spreads. Lastly, Energies trading, including US and UK Oil, Natural Gas, and Coal. Stock trading on Swiss Vests encompasses multiple stocks without added commissions or fees.
Account Types
The Basic account at Swiss Vests offers leverage up to 1:20. Spreads vary and commissions start as low as 0.06%.
For the Intermediate account, the leverageis up to 1:40. Spreads vary and commissions are as low as 0.04%.
The Advanced account provides leverage up to 1:100, floating spreads, and commissions starting at 0.03%.
The VIP account offers leverage up to 1:200, floating spreads, and commissions as low as 0.02%.
The Elite account has a leverage up to 1:400, floating spreads, and no commissions.
How to Open An Account
Spreads & Commissions
Basic account: Variable spreads, commissions from 0.06%.
Intermediate account: Variable spreads, commissions from 0.04%.
Advanced account: Floating spreads, commissions from 0.03%.
VIP account: Floating spreads, commissions from 0.02%.
Elite account: Floating spreads, no commissions.
Other Fees
Swiss Vests imposes a 5% withdrawal fee, levied to cover credit and debit card processing costs, whereas bank transfers typically do not attract commissions. Furthermore, SWAPs (overnight interest fees) and dormant account fees for inactivity are applicable. For further details on these fees, traders can reach out to their Account Manager or the Customer Support Team.
Trading Platforms
The platform of Swiss Vests is web-based, meaning it can be accessed directly through internet browsers without the need for downloading any software. It is optimized for use on various devices, including desktop computers, laptops, tablets, and smartphones。
The platform features a user-friendly interface, advanced charting tools, and real-time market data, help traders execute trades efficiently and analyze market trends effectively. Additionally, it supports multiple order types and offers quick execution speeds。
Swiss Vests platform also includes several educational resources and tools, such as trading signals, market news, and one-on-one training sessions for VIP and Elite account holders.
Trading Tools
Swiss Vests offers three kinds of trading tools. Key among these is the one-on-one coaching service, available to all traders upon account creation. These dedicated personal coaches provide tailored guidance and support, helping traders achieve their trading goals.
Moreover, Swiss Vests provides trading signals boasting an impressive success rate of over 72%. Access to these signals is facilitated by the Account Manager, who guides traders through the process.
Additionally, Swiss Vests offers a trading session map on their platform. This map displays the various trading hours, including the differences between winter and summer sessions.
Deposit & Withdrawal
Deposit Methods
To fund your Swiss Vests account, follow these steps:
Contact your account manager via phone (+442045867498) or email (support@swiss-vests.com).
Receive assistance throughout the deposit process.
Get Notified once your deposit is processed, usually within a few hours.
Swiss Vests charges no fees for deposit.
Withdrawal Process
Withdrawals are designed to be straightforward:
Request a withdrawal via the Swiss Vests Client Area.
Processing by the Back Office Team.
Funds transferred to your chosen method.
A 5% fee applies to withdrawals to cover card processing costs. Bank transfers usually do not incur additional fees.
Customer Support
Phone:+44 204-586-7498
Email:support@swiss-vests.com
Contact Form: Available on their website for submitting messages.
Conclusion
Swiss Vests, established in 2022 in Saint Vincent and the Grenadines, operates as an unregulated broker, offering Forex, commodities, indices, and cryptocurrencies. It features multiple account types, each with varying spreads and leverage up to 1:400. While the broker provides a user-friendly web-based platform and supports 24/7 cryptocurrency trading, it faces notable disadvantages such as the absence of regulatory oversight, high minimum deposits for advanced accounts, and insufficient details on spreads and educational tools.
FAQs
Q: How can I reset my password？
A: If you forgot your password, you can easily reset it by visiting the Swiss Vests login page and clicking on the “Forgot Password” link. Follow the instructions to set up a new password.
Q: Can third parties deposit or withdraw funds from my account？
A: No, only the account holder is allowed to deposit or withdraw funds. This policy ensures the security of your account and complies with regulatory requirements.
Q: What are the trading hours for different markets？
A: Trading hours vary by market. Forex markets are typically open 24 hours from Monday to Friday, while cryptocurrency trading is available 24/7. Specific hours for other assets can be found on the Swiss Vests website.
Q: Are there any fees associated with deposits and withdrawals？
A: Swiss Vests does not clearly specify its fees for deposits and withdrawals on their website. It's best to contact their customer support for detailed information.
Q: Is weekend trading available？
A: Yes, weekend trading is available, but it is limited to cryptocurrencies as other markets are closed during weekends.
Risk Warning
Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.
Additionally, the review's generation date is a critical consideration, as information may have evolved since then. We strongly advise readers to verify updated details directly with the company before making any decisions, as the readers must be aware of and willing to accept the inherent risks involved in utilizing this information.
