Swapnex review – a SCAM with fake prices [see proofs!]

This review proves that the Swapnex cryptocurrency arbitrage platform is a scam based on a Ponzi scheme. See why you have to stay away.

What is Swapnex

Swapnex is an Australian cryptocurrency trading platform. It is focused on arbitrage trading which consists of taking advantage of price differences on different exchanges.

Swapnex is monitoring cryptocurrency prices on different exchanges and shows you supposed arbitrage opportunities.

You can trade those opportunities manually through Swapnex with the advantage of not having to open your own trading accounts on all exchanges and moving money between them.

However, you can only make one manual trade per day. If you want to make more, you have to pay a lot. Currently there are three paid plans:

  • Start costs 200 USD and allows 2 manual trades per day
  • Personal costs 500 USD 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, 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 it will make 8 trades for you for an entire year.

And what about Swapnex profits? The statistics of the platform say that for a total traded volume of 2.69 billion USD it generated a ROI of 70.7 million USD. Which means that the average return on Swapnex is 2.62% per trade.

But from what we have seen when researching Swapnex for this review, the typical arbitrage opportunity shown by the platform was more like 1%. But that would still be nice if you could make several trades per day, wouldn’t it?

But is it true, can you really make money with Swapnex, is it a legit platform?

Trading plans
What you have to pay for the paid plans.

Swapnex scam

You probably don’t want to hear it, but Swapnex is a scam. It is a sophisticated fraud that you need some experience in arbitrage trading to uncover. That is why we are here, we have the experience, so we can show you the dirty tricks used by Swapnex to fool people.

Fake prices

Let’s start by stating that arbitrage trading is a real thing. Sometimes you will find that the price of one cryptocurrency, like for example Bitcoin, is different on two exchanges. So you can buy BTC on one exchange for a lower price and sell it for a higher price on the second exchange.

The problem is that these opportunities are nowadays very small and quickly disappear because there is an army of professional trading robots waiting for them.

Swapnex found a way around this problem, they are showing you fake prices and fake arbitrage opportunities.

Take a look at our picture below. It is a real-time screenshot of Swapnex and the two exchanges that the suggested arbitrage is supposed to take place on.

Swapnex claims that you can buy 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.

But prices displayed by Swapnex are fake! In our picture you can see that the real best buy price in that moment on Binance is 38935.06 USDT and the real best sell price on Coinbase Pro is 38925.30 USDT.

In other words, should you follow the Swapnex path in reality, you would be buying for a higher price on Binance and selling for a lower price on Coinbase Pro, therefore losing money.

Should you go the opposite way, buy BTC on Coinbase Pro and sell it on Binance, you would also be losing money, because the prices are the same, so you would lose on fees.

To make it clear, Swapnex is showing arbitrage opportunities where they don’t exist in reality. Swapnex is showing fake prices and fictitious potential profits.

One more thing worth mentioning about cryptocurrency prices at Swapnex is that it always shows the same buy and sell price for one asset on the same exchange. Which is another fake, because in reality there are bid and ask prices.

If you buy and immediately sell one cryptocurrency on the same exchange, you will always lose money because of the difference between the bid and ask prices (and because of fees).

That proves that Swapnex is a scam that does not even know all the basics trading.

Fake prices
Swapnex is showing crypto prices that don’t exist in reality.

Non-existing trading pairs

As if showing fake prices and fake arbitrage opportunities was not enough, Swapnex is also showing potential trades that are physically impossible to make.

Check our picture below. Swpnex is suggesting that you trade Litecoin (LTC) between Binance and Coinbase Pro, using USDT to move money between exchanges.

Swapnex says you can trade the LTC-USDT pair on Coinbase Pro, the same as on Binance. But in reality Coinbase-Pro does not have LTC-USDT, you can’t trade this pair there!

So Swapnex is saying that you can make money on trades that in reality can’t be executed no matter what. Coinbase Pro has only the LTC-USD pair, which is completely different and would add another necessary step with fees and destroy the arbitrage math.

Also, in the picture below you can see another example of Swapnex showing fake prices, which results in an arbitrage opportunity that does not exist in real life.

The real price on Binance is lower and on Coinbase Pro higher (also not being the same currency pair), which means you would be losing money in trading Litecoin between those two exchanges at that time.

So there is no doubt, Swapnex is a fraud.

Fake trading pairs
Swapnex is showing trading pairs that don’t exist in reality.

Illegal at home in Australia?

While researching Swapnex we also noticed a very interesting thing about the legal status of the company. Because Swapnex is proudly saying on its official website that it is registered in Australia under the number 646838753.

Which is true. But then you look at the terms and conditions and you see that Swapnex won’t let you open an account if you are a resident of Australia, Netherlands, Germany, Italy, Hong Kong, United Kingdom and United States.

What does it tell you when an Australian company refuses to serve Australian residents? To us it seems obvious that they do that by fear of prosecution by authorities. Swapnex knows they are scamming people and with this move they want to stay clean at home, they do their dirty business abroad only.

Australian company
An Australian company that refuses to serve Australians?

How the Swapnex fraud really works

We hear it already, people will come to this review and comment that Swapnex can’t be a scam because it is paying.

The truth is that Swapnex runs as a Ponzi scheme masked as an arbitrage trading platform, the same as for example Cryptos OTC Trading Platform (COTPS) does.

It means that it just takes money from people on the paid plans and redistributes it on profits. Simply put, it takes money from new members and uses it to pay profits of older members.

This is why you have to pay hundreds and thousands of dollars for the trading plans. To keep the Ponzi machine running, they need an increasing flow of incoming money. But that can always work only for so long.

Ponzi schemes always end up in a total collapse. And that is also what is going to happen with Swapnex, it is going to crash hard as soon as new deposits are not able to cover the withdrawals. Or sooner, when Swapnex owners decide to pull the rug and run away with what’s left in the system.

In the meantime, they have a generous referral program to motivate people to bring in new investors so that the fraud can run as long as possible and so that the money pool grows to a maximum before they shut the lights off and run with all the money.

Referral program
The referral program to get as many victims as possible.

Swapnex review – Conclusion

Swapnex is a scam, it shows fake prices and arbitrage opportunities that don’t exist in reality. It is a Ponzi scheme that is going to collapse, and that is why you have to stay away from it!

Arbitrage opportunities are hard to find nowadays, you can have a look at some crypto exchange and regulated brokers to see the real prices.

If you want to start trading with cryptocurrencies or any other asset on financial markets, please first make sure that you understand the risks.


BrokerRegulatedFree demoLink

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 76-81% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Comments 15

  • What do you think about stableFund?

  • stablefund.app

  • Nice reviews James, I love how thorough your reviews are, I agree with all your submissions on swapnex and COTP.

    All these platform ll definitely collapse due to the model they use, once the input is lower than the output, you start seeing delayed withdrawal, and you are done. I also thing the efforts put in making it look genuine may delay it’s collapse. You can say that swapnex ll outlive COTP, coz of the level of work put in this scheme, as well as it’s earnings from subscription fees. I will be on the watch to see how long it last.

    I’m collating data on efforts to longevity, to enable prediction of collapse time.

    Keep up the good work.

  • Thank you

  • now swapnex having widthdraw issues this morning so they sent out these messages below..ponzis falling like rain..haha

    Dear traders!

    The market situation is causing fear among traders and holders. Many exchanges face overload due to withdrawal requests. The Crypto Fear and Greed Index is below 25. Market players panic and are selling their assets and withdrawing money from exchanges and projects because they fear losing their earnings. At the same time, they still have significant losses as the exchanges hold funds and charge very high fees for transactions.

    The Swapnex platform is just an intermediary between you and the brokers with the exchanges. Our brokers cannot execute all orders and payment requests at the moment due to the delay in payments from exchanges.

    Due to the big rush, exchanges are just physically unable to execute all transactions in time, which affects our work.

    Platforms take much time to process payments. Sometimes we have to wait more than a day to send or receive money from our brokers. That is why we have accumulated debts to you.

    To keep functionality and allow earning maximum in this situation, we have to introduce temporary limits on the number of orders and withdrawals for clients:

    – each client may place no more than 4 manual order per day;

    – withdrawal limit of $100.

    The restrictions are valid till May 17, 2022. We have no choice but to resort to these measures. Please, note that we are just an intermediary between you and brokers, and we cannot influence the market.

    Stay with us and make money on Swapnex!

    #swapnex #crypto #trading #bitcoin #litecoin #Ethereum #solana #investments #Eth #LTC #XRP #BTC #sol #DeFi

    ✔️If your WD requests were rejected/cancelled, the funds will be returned to your balance later on. You can make a new request for withdrawal not more than $100 as per instructions in the pinned message.

    ✔️For the stuck or not moving trades, these Delays are normal. Just wait for it and everything is good. It will surely move later.

    ✔️The withdrawal for $100 per day has the restrictions applied only until May 17, moreover, each client may place no more than 4 manual order per day. Please read the pinned message. This would help stabilize the platform.

    ✔️For the Approval of withdrawals, this still follow the same format of confirmation per batches (morning afternoon and evening) simply wait within the day.

    Just relax, calm down, don’t panic, enjoy the Sunday and be patient. Everything will be okay. Trust the SWAPNEX!

    •The chat is muted momentarily to ease and stop the repetitive questions and FUDs. Thanks for your patience and understanding.

    • That’s the funny thing, in a time of great volatility like we have now true arbitrage platforms will shine. Meanwhile those fake arbitrage platforms like COTPS and Swapnex are not able to pay their users. Why? Because they are Ponzi schemes partly relying on cryptocurrencies going up. Now that cryptocurrencies are going down, it accelerates the crash of these scam platforms.

  • Same applicable me aswel!!

  • Hi,

    What do you think of WeToken? wetoken.io

    • They advertise 730% yearly returns, which screams scam.
      Also, I don’t see any WeToken cryptocurrency being traded anywhere, so I would stay away.

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