This is a must-read review!!!
In the current environment there is always a lot of buzz with any company that does business in the crypto arena… especially if they claim big profits.
Maybe you came across this company and what they have to offer online and find yourself here looking for an unbiased review.
Allow me to walk you through this company, their products and how you can make money so you can make an informed decision.
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Now let’s get dig into Swapnex.io…
What is Swapnex?
Swapnex is a cryptocurrency trading platform based out of Australia. Their emphasis is on arbitrage trading which is an opportunity in financial markets when similar assets can be purchased and sold simultaneously at different prices for profit.
Their website is https://swapnex.io/
In their company presentation they claim to be a multifunctional arbitrage trading platform that monitor cryptocurrency prices on different exchanges and shows you intended arbitrage opportunities.
Swapnex allows traders to sell and buy crypto within seconds at several currency exchanges concurrently. They say they have placed all the widely used currency exchanges on one website giving traders the opportunity to quickly open and close orders for the most beneficial prices
Essentially you can trade those opportunities manually through Swapnex without having to open multiple trading accounts on the various exchanges and moving money between them.
The company’s info is as follows:
- Registered under the name SWAPNEX PTY LTD
- E-mail address; support@swapnex.io
- Address: LEVEL 1, 2-26 PARK ST, SYDNEY, NEW SOUTH WALES 2000
- Company number: 646 838 753.
The domain “swapnex.io” was privately registered on December 17th, 2020 and updated on April 4th, 2022.
Finally there is no info of the people that run the business
What Are Swapnex.io Products?
They have two products that they offer, which are not really products:
1. Manual Trading – Sell and buy cryptocurrency on the most popular exchanges using their tools. Shift between a big variety of exchanges to create profitable orders and benefit from differences in rates.
If you sign up for manual trading you can only make one manual trade per day. If you want to make more, you have to pay a lot of money.
Currently there are three paid plans:
· Start costs $200 and allows 2 manual trades per day
· Personal costs $500 and allows 3 manual trades per day
· Professional costs 1500 USD and allows 4 manual trades per day
There are also plans for an auto mode that will trade for you which are very expensive too. The lowest plan requires a minimum deposit of 0.0013 BTC (about 50 USD) for just 1 trade per day for 30 days.
2. Auto Trading – Choose a currency pair and a trading period of 30, 60, 90, 180 or 360 days, and enter a sum for trading. They have a Compound Interest mode that you can activate and claim you can earn even more on auto trading.
It’s worth noting that the Auto Trading product has plans for an auto mode that will trade for you, and it is very expensive too. The lowest plan will make you deposit at least 0.0013 BTC (about 50 USD) for just 1 trade per day for 30 days. The most expensive auto plan requires a minimum deposit of 1.3 BTC (about 50,000 USD) and will make 8 trades a year..
What are Swapnex.io Profits?
They generated a ROI of $70.7 million USD based on a total traded volume of $2.69 billion. Based on these numbers the average return on Swapnex is 2.62% per trade.
If you look a little deeper the normal arbitrage opportunity shown by the platform was ~1%. So that’s not a very good number and not to mention you can only make one trade a day.
How Do You Make Money with Swapnex.io?
There are two ways you can make money with Swapnex.
- Invest into the company with the promise of a passive return.
- Recruit new affiliates who invest and start earning a commission.
They offer three investment plans which are as follows
The funny thing is there is no disclosure of the return you can earn with each of these investment plans.
Regarding the affiliate program they pay commission through a typical unilevel compensation plan that goes five levels deep
If you qualify as a Representative you can receive a higher compensation rate. However, there is no explanation of how to receive this higher status.
So, is it true, can you really make money with Swapnex, is it a legit platform?
The foundation of their platform is that you can make money through arbitrage trading. Now arbitrage trading is real, and you can make money doing this. If you are an experienced trader, you will find the price of one cryptocurrency, for example Bitcoin, is different on two exchanges. This means you can buy Bitcoin on one exchange for a lower price and sell it for a higher price on the second exchange.
However these prospects are so small and quickly disappear because there is an militia of expert trading robots waiting for them.
So what is Swapnex doing to different to make money on arbitrage trading?
Based off my research here is a real-time screenshot of Swapnex and two exchanges where they claim arbitrage happening.
Swapnex claims that you can buy Bitcoin (BTC) on Binance for 38670.6 USDT and sell it on Coinbase Pro for 39186.5 USDT, which allegedly will result in a profit of 0.24% after all fees.
SCAM ALERT #1: Swapnex is displaying phony prices and phony arbitrage opportunities where you will lose money.
Based off my research here is a real-time screenshot of Swapnex and two exchanges where they claim arbitrage happening.
Swapnex claims that you can buy Bitcoin (BTC) on Binance for 38670.6 USDT and sell it on Coinbase Pro for 39186.5 USDT, which allegedly will result in a profit of 0.24% after all fees.
These are phony prices by Swapnex!!!
If you look closely the best buy price in that moment on Binance is 38935 USDT and the best sell price on Coinbase Pro is 38925 USDT.
This means you would be buying for a higher price on Binance and selling for a lower price on Coinbase Pro, therefore losing money. If you try it in the opposite direction you will still loose money because of the fees you will have to pay.
To be very transparent, Swapnex is showing phony arbitrage opportunities and showing phone prices and fabricated profits.
Also let me mentions another phony thing that Swapnex does. When you look at their cryptocurrency prices they show the same buy and sell price for one asset on the same exchange, but in reality there are always bid and ask prices.
This is all the evidence that proves Swapnex is a scam and should not be invested into.,
Can you trade with Swapnex in Australia?
At the beginning of this review I mentioned that Swapnex is registered in Australia. The interesting this is if you look at their terms and conditions you will find that they will not let you open an account if you are a resident of Australia, Netherlands, Germany, Italy, Hong Kong, United Kingdom and United States.
SCAM ALERT #2: They refuse to serve Australian residents and only do their phony business abroad because they are scamming people
Essentially this company is running a ponzi scheme disguised as an arbitrage trading platform running out of Australia. It is only a matter of time when Swapnex will crash when new deposits are not able to cover the withdrawals. Or this could happen any time when whoever is running this ponzi scheme decide to pull the plug and run away with people’s money.
My recommendation — Do not invest in this ponzi scheme!!!
Also please visit the FTC (Federal Trade Commission) website https://consumer.ftc.gov/ and read their article “What To Know About Cryptocurrency And Scams” to get the latest general information on how to look for and avoid crypto scams.
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