SW1options is latest in the long line of scam binary options brokers that are using unethical tactics to get more clients. K.L. from Great Britain reported this broker to British media, as he experienced cold calling and some impressive convincing from SW1options employees.
According to K.L., he received a call by SW1options representatives even though he never signed up with them. He agreed that he will take a lot at some literature they sent him, but soon realized how it is impossible to achieve 3-4% weekly turnouts they promised. In the end, he decided not to trade with the broker, but still wanted to warn the public.
SW1options Binary Broker Scam
SW1options is binary options broker that claims to be established by a group of professionals and has offices in UAE and London. However, this is all a part of the old trick that is a borderline misrepresentation. The company has nothing to do with binary industry professionals as it was founded by 27-year old Nicholas Alexander Hart from Essex. This young man was never registered with FCA and has no license for providing any sort of investment or financial services.
After Hart failed to name any of the alleged financial experts working with SW1options binary broker, he explained to the British media how he gained a lot of experience by himself, as he traded for a long time. However, great trading experience doesn’t make someone a financial expert. He has no relevant experience of working in finances and has no valid license.
Also, terms and conditions that are applied to SW1options are including a law company in Tel Aviv named RD Law. But, British media reports that Itzhak Ron, owner and man in charge at RD Law confirmed he has never heard of SW1options. Also, SW1options website mentioned awards received in 2012 and 2013, even though this binary broker is established only in 2015.
In addition to all this false information presented on the website, Hart also stole pictures from another business company in Belfast and used fake stories that are impossible to believe. According to them, people who traded with SW1options are FCA employees, business specialists, heads of analytics etc., but none of them really exist.
Cold calling, that K.L. experienced is only a tip of the iceberg when it comes to SW1options. This unregulated broker is not safe for trading, and we recommend making a deposit with a regulated broker like 24option instead.