Forex Swiss FXCH Review (2023)

Is FXCH a scam or a legit broker?

FXCH has been suspected as a scam broker. This broker is blacklisted by the well-known regulatory authority and should be avoided. FXCH is an offshore company registered in Dominica (Learn about Dominica located TradersWay Broker). The Domminica is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Finbitex and more.

The Forex Swiss FXCH  is a brand name of a company registered as Foreign Exchange Clearing House in Commonwealth of Dominic, which operates without any licensing. Despite its name, the company has nothing to do with the Swiss registration or regulation, even though there are numerous stated on the official website about its authorization to solicit clients and provide financial services with honest. The Dominic as a location itself does not require any regulatory requirements to the financial companies, therefore none of the organizations protect clients and their funds.

The international watchdogs of the Forex industry also issued a warning to the traders, since the service offering is not legit in particular jurisdictions. Alike, Foreign Exchange Clearing House Ltd appeared in FINMA (Switzerland) blacklist.

On the contrary, the information presented at the website is rather confusing than motivating to invest, since the information about trading and overall services are not clear enough. Along to that, the negative experience reviews from the traders are numbers and numbers, while there are appearing the “most common” scam issues. In addition, it was earlier confirmed a scam finding that caused Forex Swiss FXCH for insufficient charges to traders and disputed money that alerts international traders.

Conclusion

In conclusion, it is clear enough to understand that the model the Forex Swiss or FXCH operates seems to be a very tricky business that does not promise any positive results. Unfortunately, it is common practice that offshore companies are manipulating by the traders trust toward their own interest. Therefore, we always advise choosing the only reliable broker with a solid reputation and compliance to the strictest authorizations alike FINMA or FCA that protects clients in unlikely events.