Don’t trust Swaymarkets.com broker! Read Sway Markets reviews to know about this forex broker and why it is not reliable.

This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About Sway Markets

Sway Markets otherwise known as Swaymarkets.com is an offshore brokerage claiming to offer crypto investment services to their clients.  The broker claims a brand name of Sway Markets Pty Ltd.

Sway Markets Pty Ltd also claims registered address and full incorporation of Saint Vincent and the Grenadines.

What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. It also presents a zero spread difference in Buy/Sell.

Does Sway Markets Have Account Types?

Sway Markets offers different trading account for clients like ECN, No Commission, VIP and Islamic. According to the website descriptions, the broker offers a spread of  1.5 pip and a leverage max 1:500.

Sway Markets offers $10 as its minimum deposit based on the account type. While the deposit may look cheap and attractive, don’t invest in an unlawful platform.

Considering safety and regulation, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.

Sway Markets claims to accept deposit through crypto coins like Bitcoin, Tether, Lite Coin, Ethereum, Dogecoin and more. However, the broker does not use traditional payment methods like Visa/Mastercard or e-wallets like Skrill or Neteller. 

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

Is Swaymarkets.com a Scam Forex Broker?

First of, Swaymarkets.com claims its website is incorporated in St. Vincent and the Grenadines. 

But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.

Furthering, Sway Markets claims to be fully regulated by the Australian Securities and Investments Commission (ASIC) and even posts a license number. To clear the doubt, we decided to check the registers of ASIC where we saw a firm with the same name but with no address or domain name presented in the register.

As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.

These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Sway Markets Withdrawal process And Trading Software

Sway Markets withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements  that must be met before a withdrawal.

The broker claims to offer industry trading software MT5. Unfortunately, we were not impressed after installation of the software. The platform seems absolutely dysfunctional.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Argument Against Trading With An Unlicensed and Unregulated Broker ( Swaymarkets.com)

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that Swaymarkets.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Concluding Thoughts:

Sway markets located at Swaymarkets.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

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