SwissXM is an unlicensed binary options broker that opened in October 2016. SwissXM is owned by Financial Market Solutions LTD which is located at: Cedar Hill Crest 1825 VC 0100, Kingstown, St. Vincent and the Grenadines. Contact phone number is: +44 207 193 7095, and the email address is: [email protected]. For typical complaints about brokers, read this.
SwissXM Broker Review
Our review of the broker SwissXM shows that they are using the Hello Markets Tradestation software for binary options trading. Available are about 55 underlying assets, including Currency Pairs, Commodities and Popular stocks. They have some minor currency pairs for trading, including binary options for the Polish Zloty, Indian Rupee & Mexican Peso. Returns and payout for the $EUR/USD binary options ranges from 70% – 85%. Expiry times are shown is a way that is different from other brokers. For example, if it is 10:17 am and a trader selects the 45 min option, the option will expire at 10:45 and not at 11:02. Minimum trade size is $5, and the maximum trade size is $10,000.
Minimum account size is a whopping $1,000.
WARNING: Be careful with using binary options robots, because most of them are scams, read this.
The most popular automated trading robot is called the Option Robot, see details.
SwissXM License
The first item the Scam Broker Investigator looks for when reviewing a new binary options broker is a license, to determine if they are a legit or scam broker. We check to see if a financial regulatory authority in Europe like CySEC, or ASIC in Australia are monitoring them.
When we reviewed SwissXM we see that they are not a licensed broker.
You have so many binary options brokers to choose from, the main difference between the popular brokers is the license and trading platform. Investors interested in trading at a licensed broker should see the list of licensed broker here.
The payment processor for SwissXM is FINTG Holding LTD, 10 Patron, Larnaca, Cyprus.