# Fswap review: KYC policy, privacy and safety grades

> Fswap is a swap service. Its terms put it at KYC level 3 of 4: ID on risk flag. NoKYC Score grades it 3.6/10 for privacy (poor) and 4.0/10 for safety (caution). In its favour: no account needed, no email needed and no phone number. To watch: it may ask for ID, screens deposits and passes orders to partner exchanges. No incidents are on record.

Source: NoKYC Score, "Fswap review", reviewed 22 Oct 2026, https://nokycscore.com/service/fswap

## Key facts
- **Category:** Instant Swaps
- **KYC level:** 3 of 4: ID on risk flag
- **Grades:** Privacy 3.6/10, Safety 4.0/10
- **Sign-up:** No account needed
- **Custody:** custodial
- **Incidents on record:** 0
- **Last reviewed:** 22 Oct 2026
- **Official website:** https://fswap.io

## What it is
Fswap is an instant exchange listing 4,000+ coins that needs no registration, with optional accounts for saved addresses, API keys and referral codes. Its terms say an automated risk system checks all transactions and may suspend an exchange that needs additional verification. They also say swaps may be executed through verified third-party liquidity providers, and that the source of funds is not verified except under internal procedures and applicable law. A separate Private Fswaps mode promises never to ask for identity documents: a transaction with a high AML risk score is refunded to the original wallet. The terms name no operating company or jurisdiction, and the AML policy linked from the order form could not be found.

## What the terms say about ID
Terms 2.2 and 2.16: an automated risk system may suspend exchanges for additional verification and source of funds may be checked under internal procedures; the Private Fswaps page says flagged private swaps are refunded and identity documents are never requested.

## Features and warnings
- **Identity:** ID never required: no; No account needed: yes; No email needed: yes; No phone number: yes
- **Payment:** Accepts Monero: yes; Accepts Lightning: not stated
- **Access:** Tor onion address: not stated; Works without JavaScript: not stated
- **Trust:** Never holds your funds: no; Own liquidity: no; Refund without ID: yes; Open source: no; Independent audit: not stated; Company named: no; 5+ years operating: not stated
- **Warnings:** May ask for ID: yes; Screens deposits: yes; Passes orders to partners: yes; Holds your funds: yes; Email required: not in terms; Phone number required: not in terms; Closed source: yes; Nobody accountable: yes

## Questions
### Does Fswap require KYC?
Fswap is rated KYC level 3 of 4 on this site: ID on risk flag. Terms 2.2 and 2.16: an automated risk system may suspend exchanges for additional verification and source of funds may be checked under internal procedures; the Private Fswaps page says flagged private swaps are refunded and identity documents are never requested.

### Is Fswap safe to use?
Fswap has a Safety grade of 4.0 out of 10 and a Privacy grade of 3.6 out of 10. No incidents are on record. Evidence level: documentation reviewed.

### Is Fswap legit?
Fswap is a working swap service. Its operators do not publish a company or names, so nobody is publicly accountable for it. Being real is not the same as being safe: its Safety grade here is 4.0 out of 10, built from custody, liquidity, track record and incidents.

### Is Fswap a scam?
NoKYC Score does not label services as scams; it records documented incidents with their sources and outcomes. No incidents are on record for Fswap. Its terms also allow it to hold a flagged deposit and ask for identity documents.

### Do I need an account or email to use Fswap?
No account needed.

### Does Fswap have a Tor onion address?
No official onion address was found on Fswap's own pages.

### Which cryptocurrencies does Fswap support?
Fswap supports BTC, XMR, ETH, USDT, USDC, SOL, LTC, TON, ZEC, DASH, BNB.

### Is Fswap custodial?
Yes. Fswap holds funds during a trade, which means it is able to delay or freeze them.

### Can I use Fswap over Tor?
Fswap does not publish an official onion address.

## Sources
- https://fswap.io
- https://fswap.io/docs
- https://fswap.io/private
- https://fswap.io/about

How grades are calculated: https://nokycscore.com/methodology