Switzyman legit?

Trading Discussion
1

Hi everyone,

I have just joined the Babypips site as would like to learn the world of Forex.
I have been following a guy named Switzyman on Instagram who is promising people that he will double their initial deposit when signing up.
This doesn’t sit right with me. I messaged him out of curiosity and wanted me to sign up with a broker named T4Trade but I read reviews about the broker and was advised to stay well clear.
Also, another influencer named DMO kept plugging Switzyman which made me think it was legit as he doesn’t usually get involved with scams but then started to wonder whether he was getting a percentage for plugging Switzyman.

Is the guy actually any good or is he just one of the many Instagram scammers out there?

Many thanks

Magicman1980

2

It seems to me it’s a marketing thing that brokers do to attract new customers by doubling their initial deposit. It’s not necessary a scam. I did a very brief research on the broker and saw the trust pilot reviews. They are a bit mixed but mostly positive. I don’t know who Switzyman or DMO is but they are most likely getting some percentage or are affiliated somehow with the broker. This still doesn’t mean it’s a scam but there is definitely some interest for them for people to sign up. I think you should not yet worry on depositing to a broker yet based on this:

School of Pipsology has a whole course on finding a good broker, but a good broker is not helpful if you are not yet profitable as you are most likely going to lose your money if you don’t know what you are doing. Go and do the courses in School of Pipsology and then you can start thinking about joining a broker. That’s my advice.

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3

Thank you so much for the reply,
I will check out the course and see what it has to offer. I think it will be best to learn one step at a time and use a demo account whilst I’m learning.

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4

I honestly cant thank enough Switzy for his work! To be honest its not as easy as he says on his story but he really provides us an amazing work:

  1. the technical analyses provided on DAILY BASIS - i have never seen any groupe who is offering this, normally they always try to upsell you a premium group like HS

  2. He is offering is course for FREE, so we dont have to pay for nothing.

So yeah he makes money from the affiliation, but his trade are 10/10 and his crotuse is also a 10!

Its nice that he also aware us of the risk

5

Did you ever follow Switzyman? I contacted him am I see many red flags but the affiliate notion seems correct. @magicman1980

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6

Yes. I decided to join his team and can pretty much mirror what the above comment says.
He knows his stuff and only started trading a month ago and only lost one trade. Well worth doing.

7

Thanks for the reply. Which platform are you using?
Are they small trades and is it mostly currency?

8

Using T4Trade and mainly currency pairs.
Nearly doubled my account over the last few weeks.
Yes it’s an affiliate link but at the end of the day it doesn’t bother me as the service is free.

9

Magicman and Opportunityman never posted anywhere on babypips except in this thread and are having a conversation about an influencer named Switzyman and his broker…Suspicious.

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10

I’ve never posted anywhere else as I only recently joined this site. I originally posted to see if anyone had ever traded with him previously.

After careful consideration I decided to give it a try and so far so good. He doesn’t charge anything and you are just using your own capital when trading.

I’m not posting comments on here in the hope that other people sign up. It’s just my observations so far and really enjoying it.

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How’s it going?
I’m new to all this and I’m also thinking to join

However after doing some research on t4trade, it appears that customers can’t withdraw money? How will you make profit if you can’t withdraw?

12

Is this copy trading or something like a signal service?

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Thanks for your interest!

14

Well that’s a lie, I joined and his trades ain’t daily, his pretty inconsistent with his trades and will tell people if he does not get 700 likes on his YouTube video he won’t post a trade. He also does “contests” where he will offer people a chance to win £100-£200 for the best comments bigging him up on his Instagram. Its all fake promotion to draw in more customers, Yea I have made some money following his trades and his free course is a good intro but if I knew what I do now I’d stay away.

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15

Switzy isn’t legit. he constantly says he will double up people’s accounts. today he’s said he will only double up 2 accounts. don’t believe it. he doesn’t double up anything. T4 trade have different accounts to sign up to and one of them is a 100% super charger account. it’s them that double your account everytime you male a deposit. they also because of this take 50% of all profits. you can also only withdraw 50% of your balance.
he says 8k people in his telegram but only ever a couple of k view his posts. 5k at most.

constantly wants you to send his mates DMs on insta saying he’s a GOAT. asks for youtube like otherwise he won’t give trades.

never tells of his losses. intact if he gives a signal and it goes wrong he deletes the signal from the telegram.

you will get an account manager constantly phoning and WhatsApping you and having a go at you saying you are over leveraging and so on.

you are told to set up your account with x500 leverage. yes you make huge profits but one bad trade will wipe you out. you have to change your leverage otherwise the even the smallest stop loss will be a huge loss.

I’m guessing the minimum 3k telegram members that don’t look at the messages have all lost their money.

at £300 minimum investment, that’s 900k lost and 900k of t4 trades money lost that they doubled up.

the guy does give signals but is completely dishonest with everything else. with makes him a scam in my eyes. when someone lies to you to part you of money, it means its a scam.

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(post withdrawn by author, will be automatically deleted in 24 hours unless flagged)

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Switzyman is 100% scam, I lost £300 by depositing it to the scam broker of his recommendation and affiliated link - digitalfxfunds.

Here’s my story:

After contacting him he was promising huge profits - couple of thousands daily.
He told me to follow his instructions - first asked me to get an account on coinbase and then buy bitcoin for £300. Then he sent me the link to digitalfxfunds and said this is the platform i have to use for trading (digitalfxfunds dot com). The website itself looks very dodgy - functionality and graphic issues the layout, links that does not work, icons from the menu that were disappearing etc. + no professional disclaimers, no legitimate contact information, no support etc. All red flags.

Despite all of that I wanted to check if he’s a scam or not so I deposited £300 through Bitcoin to this platform. I asked him when we can start trading and he replied that there’s a robot that will execute trades on my behalf and I don’t have to do anything. After 2 days he told me to log back in again and check the balance.

This scam broker website (that btw I think he created himself) was showing deposit £300 and £1500 profit.
I asked him where I can see the history of the trades, the logs, P&L etc. - nowhere it didn’t exist.

Then he asked me to put more money to “upgrade your account” as he said - nothing less than another £300 but he encouraged to put more. Obviously I said stop here and told him that I want to withdraw the money first before putting in more.
Switzyman replied that in order to withdraw the £1500 profit I need to “upgrade the account” - meaning send more money minimum another £300.

After the discussions he said he will cover a part of this “upgrade fee” for me in the amount of £200 and I’ll just have to pay the rest £100 :rofl:

I obviously didn’t agree and told him that in this case I just want to withdraw what I have put it - the deposit. He sent me a link for withdrawals on this scam broker website digitalfxfunds and a day later I received an email from “support” the sender was “support” that my withdrawal request has been received and will be processed once I will pay £500 cost of transfer fee. :joy: :rofl: there was no signature on the email, no name, no address - looks legit… :sweat_smile: :joy:

I told him switzy that usually all the transfer fees are being deducted from the withdrawal proceeds - he said that I still need to pay £500 to withdraw my deposit of £300 :sweat_smile:

At the end I had enough of this commedy and asked switzyman straight if he’s gonna give me back my depo or not - no contact since then.

I will leave conclusions of the above to you guys.

I am sure there’s much more people that got scammed by switzy out there - while looking through I found this switzymanscam dot com

STAY AWAY!

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18

BEWARE OF FAKE ACCOUNTS OF SWITZYMAN !! There are so many fake accounts on Instagram trying to scam people using his name and pictures.

I lost £300 because a fake Switzyman account contacted me on Instagram. He asked me to create a coinbase account and to deposit money on his platform: digitalfxfunds

After a few hours he told me that I was already making 3k profit and that I should deposit more but I wanted to withdraw the profit because I needed some money.

He stopped answering me so I contacted DMO to complain because he promotes Switzyman on his Instagram and when I sent him the proof he told me that I have been contacted by a fake account and that Switzy would never dm me first or follow me. He also told me that he does not use Coinbase at all. That is how I got scammed.

So basically now I am saving to finally join the real Switzyman and hopefully recover my losses

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19

Fake account - I don’t work with this platform, I only work with ICMarket & T4trade. Look at the @, it was not my instagram you talked to a fake page.

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Doesn’t change the fact you make money from affilate not trading SCAMMER