We strongly advise against opening an account with Empire Swiss for several reasons. Firstly, Empire Swiss is an unregulated broker, which means they are not licensed to offer financial services in any country. As government agencies do not monitor unlicensed brokers, they are not trustworthy and it is, therefore, advisable to steer clear of them.
There is a risk that they may disappear with your funds at any moment. Secondly, we conducted research on online forums and discovered a significant number of negative comments from dissatisfied users. The users reported difficulties in withdrawing their funds. Based on these user reviews, it appears that Empire Swiss is attempting to scam people out of their money, and we caution against engaging with this broker.
How does such Empire Swiss work?
Their typical approach involves calling customers and using persuasive tactics to encourage them to make a deposit. These brokers excel at making unrealistic promises of high investment returns, all in an effort to entice you to deposit funds. Once they succeed in getting you to make an initial deposit, they will continue to call you repeatedly, urging you to deposit more money.
However, it is important to remember that nothing they say can be trusted as it is all based on lies. To minimize costs, such brokers usually employ foreigners to make these calls to as many potential victims as possible. They swindle people out of their money and then vanish without a trace, making it impossible to contact them through phone, email, or chat. It is common for the broker’s website to become inactive after a certain period of time.
What is the process to recover your funds?
If you have deposited money with Empire Swiss, it is advisable to request a withdrawal immediately. However, the broker may refuse to return your funds. But don’t worry, if you used a Visa or Mastercard to deposit money, there is still hope for a refund or chargeback. Visa and Mastercard allow chargebacks up to 540 days after a deposit for those who have been victims of investment fraud. Chargeback is a complaint process initiated by the bank upon receiving a report from a payment card customer.
Thus, to get your money back, you should contact your bank as soon as possible. The same applies to online payment system transfers. Some of these systems allow chargebacks, while others do not. Regardless of the payment system used, contact customer support immediately and inquire about the possibility of a refund. If you made a bank transfer, there is no way to issue a chargeback. You can only send an email to Empire Swiss, clearly stating that if they fail to refund your money, you will report them to the police. This may intimidate them into returning your funds. You can also file a complaint with the government agency that regulates financial institutions and brokers. They will take appropriate action.
We also advise against cryptocurrency payments. Cryptocurrency payments are largely anonymous, making it difficult to trace the recipient. Moreover, the transaction is final, and once you’ve made the payment, there’s no turning back.
Conclusion:
We cannot endorse Empire Swiss as a broker since they lack the necessary licenses to offer financial services. Additionally, we have come across negative feedback about them on online forums, indicating that your money may not be secure with this broker. To ensure your financial safety, it is advisable to avoid this broker altogether. It’s always wise to conduct thorough research and read reviews and comments before sending money to any company, be it a forex broker, cryptocurrency exchange, or any other entity.
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