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I have been using Bitswyft since 2017, and one thing that has never changed is their customer support. It's always remained excellent. The platform fee is fair compared to other brokers, really good amount of short locates and I love the free commissions. A++ broker.
I give 0 for very expensive service. Short selling with them is 10 times more expensive than with the competition. Example happened 4 days ago. I short sell 100 BTCT shares at the value of 7.14 $. I checked the the overnight borrow calculator the fee was 13 $ for a value of 12$ per BTCT share and I checked also for a value of 20$ per 1 BTCT share at the same time to have an idea what will be the costs just in case and the overnight borrow fee was 18$. I was ok with these charges, i was charged for first night 13$. But the second night they charge me 33$ when the stock value was 20.41$ per share and the third night they charge me 80$ when the stock value was 19.45$ per 1 btct share. So i asked them who is making these rates cause seems that those gone higher and higher since I checked first time from 18$ to 80$ and they said the locates vendor is fixing the charges. I ask then who is the locates vendor, they said it is secret. I ask about these details to make a complain and they said theycannot give the details how it is calculated the overnight borrow fee and who calculates that. I check with Interactive Brokers the charge was a fixed fee 9$ for each night for keeping the 100 btct borrowed shares. They said they are sorry but these are the fees, fees that theychanged from 18$ to 80$ for every night. Imagine that 100 btct values 2000$ and they charge 80$ for every night where the competition charges between 9$ and 16$ per night. And if you will keep those 100 shares 10 days you will pay 800$. I told them that only mafia takes this amount of money from the cx pockets in a such time. And something else that I want to mention the balance of the account was 3500$ at the moment when I short sell 100 btct shares that value 2000$, not using margin and they have this up to the sky charges. I TOLD THEM that I will make everything public for eveyone to know Bitswyft means ripping the cx off in one month more than the stock value itself.
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