I would recommend that you use CocoaPods.
I did it like you did, with dynamic frameworks, but when I try to submit my application to iTunes Connect using Xcode's Organizer, I could not because of the nested frameworks. Realm.framework is inside RealmSwift.framework, and that is not okay with Apple. So I try and try but nothing helped…
Then I used CocoaPods and everything worked as it should.
Here are instructions for CocoaPods installation:
Install CocoaPods 0.37.1 or later ([sudo] gem install cocoapods).
In your Podfile, add use_frameworks! and pod 'RealmSwift' to your main and test targets.
From the command line, run pod install.
Use the .xcworkspace file generated by CocoaPods to work on your project!
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