Swift Bit Options Review (2023)

Swift Bit Options (SBO) claims to be a broker that offers investment accounts to trade in Forex, cryptocurrencies, Contracts for Difference, options, and other investment products. The company is owned and operated by Swift Bit Options Ltd. with registration in St. Vincent and the Grenadines and Seychelles. Both locations are offshore zones that considered to be popular among unregulated forex brokers. It is risky to trade with the offshore-registered brokers as they usually don’t have licenses and are not overseen by any proper regulator.
Swift Bit Options also states to be a member of the Financial Commission (FinaCom). The membership guarantees that clients of Swift Bit Options are under the protection of this organization, however, FinaCom is self-regulated and do not strictly regulate or oversee the companies.
In addition, the British Columbia Securities Commission has issued a warning against Swift Bit Options:
“We recently became aware of Swift Bit Options (SBO) and that it had accepted funds from a British Columbia (BC) resident to trade with the company. SBO is not registered to trade in, or advise on, securities or exchange contracts in BC.”

Conclusion

Well respected financial authorities like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) are effectively enforcing strict financial and ethical rules on all overseen brokers. That’s why we recommend choosing among the brokers regulated with the mentioned authorities. Traders should trade with well-regulated brokers (Top 10 Forex Brokers in the World) such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and TMGM.