Swiss KMS Review: Part Of A Corporation That Lacks Genuine Existence
The Swiss KMS scam will attempt to convince you that they’re an internationally known brokerage brand with a spotless reputation. With alleged experience of over a decade, these Forex experts promise to lead your trading journey to success.
We wonder how exactly they plan to do that, considering that they’re running an unscrupulous scheme with anonymous ownership. That’s why we’ve investigated the whole matter and present you the results in this Swiss KMS review.
|Type of the company
|Warnings from Financial Regulators
|No official warnings
|Majority of clients are from
|Spain, Chile, Colombia
|Yes – Online Form
“Swiss KMS Coorporation” is named on the site as the parent company running this online trading domain. What should represent a reputable Forex dealer of a company wasn’t even spelt correctly, so what can you expect other than lies and deceit.
If you look online for this firm, you will not find a single trace of it. Furthermore, the swindlers don’t even specify what jurisdiction they operate from, so we didn’t even have that clue to base our investigation on.
That’s why we first checked the registers of FCA and BaFin, as the contact information suggested offices in the UK and Germany. Naturally, no reputable database, including these two and FINMA, CySEC, ASIC and NFA contain information about this brand.
If you want to ensure safety of funds, segregated bank accounts and compensation funds are provided, you should choose a reputable broker and also avoid Mensa Finance.
How Targets Get Chosen
The Swiss KMS broker doesn’t clarify if they’re present on the social networks. There’s no link to their public profiles on any of the currently popular social apps and platforms.
However, it is known that financial swindlers particularly like to employ boiler room agents who lurk online looking for potential victims. VARIANSE is another example of firms using such strategies.
Once they have their target locked, scam agents proceed to establish communication and persistently attempt to persuade traders to invest in their shady proposal. When you start hearing about get-rich-quick deals that promise huge returns and guaranteed profit, you’ll know you’re dealing with scammers.
To sweeten up the deal, they usually add promises of high bonuses, constant reward cycles, and celebrity giveaways.
Bonuses With Conditions
It may seem very generous when a platform rewards your first deposit with an additional 10% to 20%, as this one claims to do. Don’t be fooled, though, this is just another form of entrapment for you.
What the firm voluntarily rewards you with is not counted as a part of your total account balance. This can only be withdrawn when you achieve a total turnover equal to 30 times deposit plus bonus, which is simply impossible to do.
Useless Platform Facilitates Scamming
If you intend to make money in trading, this platform is certainly not your ally in achieving that goal. With its overly simplistic distribution, it only represents an unstable bogus software instead of a fast and flexible trading terminal.
To mask its lack of any advanced tools and options, it introduces the possibility of copy-trading. By now, we all know engaging these unverified strategies could cost any trader dearly.
That is just another circumstance we could add to the list of reasons why trading with prop firms is far safer. Not only is your own capital not exposed to trading risks, but you don’t have to bother looking for safe trading environments – the prop company already provides it!
Choice of Assets
Taking into consideration that the portal offers access to most basic instrument groups, we can’t say there’s anything impressive about it. In the end, it’s questionable how much this even matters when nothing else on this server is genuine.
Here’s a list of most popular instrument classes on the site:
- Forex (EUR/USD, EUR/CHF, USD/CAD)
- Commodities (Coffee, Silver, Cotton, Wheat)
- Shares (Tesla, Ferrari, Ford, IBM)
- Indices (DAX, Dow Jones, CAC)
- Crypto (BTC, EHT, LTC, XRP)
Accounts: Where Confusion Culminates
The available packages on this trading host are anything but affordable, that’s first. Secondly, the alleged bonus cash rewards are significantly higher than what the homepage and legal docs say.
Also, these are no standard Forex trading accounts, especially considering they’re time limited and also promise a monthly cash-out like they’re some sort of investment plans. If you thought the offer couldn’t be any more unrealistic, take another look and prices and promised returns:
- Bronze – € 5,000, bonus € 3,000, ROI 34% after 1 month
- Silver – € 10,000, bonus € 8,000, ROI 38% after 2 months
- Gold – € 25,000, bonus € 20,000, ROI 42% after 3 months
- Platinum – € 50,000, bonus € 50,000, ROI 52% after 6 months
- Diamond – € 150,000, bonus € 100,000, ROI 60% after 1 year
- Pro – € 250,000, bonus € 250,00, ROI 74% after 3 years
High Costs and Commissions
Trading under the circumstances and conditions present on this platform will not turn beneficiary for you in any way. The con artists have designed these trading terms to force you into risky investments and loss. That explains the leverage that ranges from 1:30 to 1:300.
Furthermore, commissions are quite high. Although they depend on the account type, they get higher the pricier the package you choose. These range from 6% to 10%.
Lastly, there’s also a dormancy fee, which is applied to inactive accounts and amounts to 10% deducted from your account balance monthly.
The fact that there’s only Visa and Mastercard available as payment channels is somewhat comforting in all this mess. We say that because these allow you to issue a chargeback in case you get defrauded.
Still, you have to share your personal information and payment details with cyber thieves who intend to misuse that data. We’d still not recommend you investing here, especially when there’s far safer options for you out there, like funded trading, for example.
Funded Trading as an Alternative
If you’re still not familiar with proprietary firms, you’ve come to the right place! Our company is looking for talented traders that wish to get funded and earn cash just by trading with the funds the firm invests. In the process you won’t have to risk any of your capital and the split is in your favor.
For additional information, consider contacting us for booking a free zoom meeting with the company representatives.
What is Swiss KMS?
This is a non-genuine brokerage service that primarily targets Forex newcomers.
Is Swiss KMS a Legit Broker?
No, this broker offers not a single proof of having a legit Forex license.
What is the Difference Between a Broker and a Prop Firm?
Prop firms allow you to borrow their funds in order to trade and earn, whereas with brokers you risk your own investment.