SwissFS Scam Warning: Kuwait-Based Forex, Not Licensed

Despite "Swiss" in its name, SwissFS has no known link to Switzerland: the operation running at swissfs.com says it is based in Kuwait and offers highly leveraged forex and CFD trading over MT4 to investors in the Gulf region. The negative reports about it centre on the withdrawal stage.

📜 The Difference Between a "Permit" and a "Licence"

SwissFS presents a trade permit from Kuwait's Ministry of Commerce and Industry and membership of the Kuwait Chamber of Commerce as if they were a regulatory registration. These bodies do not grant licences for forex intermediation; and although the domain has been registered since 2004, that does not mean investor protection exists. Registrations in foreign countries are not valid for investment services in Türkiye.

🚩 Problems Reported at the Withdrawal Stage

SPK's decision No. 8/297 of 24 February 2017 treats directing investors in Türkiye to foreign leveraged trading platforms as unauthorised activity. Despite the similarity in name, SwissFS has no connection with the BDSwiss brand.

🔗 Similar Platforms from the Gulf

We have previously covered operations that present a regional permit as a licence and hold back withdrawals.

🧭 The Legal Route in a Dispute

1. The invalidity of the account agreementTR made with an unauthorised platform can be argued.
2. The foreign arbitration clause in the agreement is examined under Turkish law.
3. As regards unauthorised activity, the SPK review and criminal complaint processTR takes place.

For detailed information and legal support, you can contact Savun Law & Consultancy.

❓ Frequently Asked Questions