SwissTrade Exchange and 3 other entities on the KNF's warning list

On September 11, 2020, a new entity was placed on the public warning list of the Polish Financial Supervision Authority - Capital Mog Co Ltd. based in Japan, which is the administrator of trading platforms: SwissTrade Exchange (www.swisstrade.exchange), LondonTrade Exchange (www. londontrade.exchange). In the announcement, we read that 3 other entities were also blacklisted: Grand Nova Ltd. based in the Dominica Community, Grand Marshall Ltd. based in the Republic of the Marshall Islands and Clear Media Ltd. based in Hong Kong.

SwissTrade Exchange on the "black" list

For some time now, we have been receiving signals from readers about the disturbing activity of the "broker" SwissTrade Exchange / LondonTrade Exchange. Now everything is black and white - the activity of this entity has been classified as a scam by the Polish financial supervision. And this should come as no surprise. Names created to inspire confidence suggesting a link to national exchanges, and there is no information on the website that there is any regulation in Europe. The sites themselves do not look bad, and you might not recognize at first glance that this is a scam. However, when you read deeper, you can see that even important information has been presented in a very cursory manner. It is also impossible to read the terms of the contract without first contacting the "account manager".

It is the same for the other three entities, or even worse. Coarse information, similar names and the "offer" suggest that the same people are behind all four entities.

In each of the three cases, the reasons for the inclusion on the KNF's warning list are the same:

"Suspicion of committing a crime under Art. 171 sec. 1-3 of the Banking Law (performing banking activities, in particular accepting cash deposits in order to burden them with risk, without the consent of the Polish Financial Supervision Authority). "

The case will be handled by the District Prosecutor's Office in Warsaw and this is where all victims should report.

Swiss Trade Exchange

• Website: swisstrade.exchange
• Telephone number given on the website:+41 315087497
• Address: 55a Route des Acacias, 1227, Geneva, Switzerland

London Trade Exchange

• Website: londontrade.exchange
• Telephone number given on the website:+44 1420358012
• Address: The Tri Center Three, One New Bridge Cl, Square, Swindon SN1 1HN

Grand Trade Exchange

• Website: grandtrade.exchange

TradeMarkets Exchange

• Website: trademarkets.exchange
• Telephone number given on the website: +351 308803921
• Address: Office: R. Dr. Alfredo da Costa, 5º Dto, Algés 1495-161, Lisbon Portugal

SwissTrade Exchange and "company" on the warning list. Source: KNF

We warn against using the services of unlicensed companies. Before opening an account, always make sure that the broker has the appropriate regulations and permits from the indicated institution supervising the financial market.