Sway Markets presents itself as a regulated forex broker that provides innovative trading solutions. However, upon closer examination, many red flags arise. In this Sway Markets review, the reality behind the broker’s activities will be revealed, and whether it is safe to invest will be discussed.
Overview of Sway Markets
- Website: http://swaymarkets.com/
- Website Availability: No
- Address: 50 Clarence St, 2000, Sydney, Australia
- Warning Notices: Not Recommended By Review Website Like Lycan Retrieve
- Domain Blacklisted Status: It seems there is no direct mention of this domain being on a blacklist.
Sway Markets was founded in 2022 and uses the well-known MetaTrader 5 (MT5) platform to trade cryptocurrencies, commodities, and forex. The broker advertises:
- Types of accounts include VIP, ECN, No Commission, and Islamic.
- Use leverage up to 1:500.
- 24/7 customer support.
The fact that swaymarkets.com is currently non-functional casts doubt on the legitimacy of the company despite these alluring claims.
Is Sway Markets Regulated?
Investigations show serious concerns, despite swaymarkets.com’ claims of being regulated by the Australian Securities & Investments Commission (ASIC):
- Clone ASIC license numbers 001300469 and 000220383 are suspected clones.
- No verifiable proof of genuine ASIC regulation.
- Not listed in the official records of ASIC.
Is Sway Markets regulated? No credible evidence supports their claims.
Sway Markets Review – Trustpilot & Reddit Complaints
On platforms like Trustpilot and Reddit, the Swaymarkets com review is overwhelmingly negative.
Common user complaints include:
- Inability to withdraw funds.
- Only accepts cryptocurrency for deposits/withdrawals, making transactions irreversible.
- Unresponsive customer support after deposits.
- Allegations of misleading promotions and scam tactics.
With a 2.6 rating on brokersview.com, swaymarkets.com is widely regarded as unreliable.
Red Flags You Should Know
Major Concerns:
- No valid regulation.
- Suspected clone licenses.
- The website is currently non-functional.
- Crypto-only payments raise transparency issues.
- Limited educational resources for traders.
- New broker with no established track record.
Despite these positives, the swaymarkets.com scam allegations far outweigh the benefits.
FAQs about Sway Markets
What is the minimum deposit for Sway Markets?
- The minimum initial deposit is $10.
Is Markets.com a legit website?
- Markets.com is a separate broker. Swaymarkets.com is currently inactive and lacks proof of legitimacy.
Is swaymarkets.com a broker?
- Swaymarkets.com claims to be a broker but operates without valid regulation, casting doubt on its legitimacy.
How to withdraw money from Sway Markets?
- Withdrawals are processed only through cryptocurrency, with multiple user reports of frozen funds and unprocessed withdrawals.
Final Verdict: Is Sway Markets Legit?
Based on this in-depth Sway Markets review, it is clear that Sway Markets is running on suspicious practices. The lack of proper regulation, clone license allegations, crypto-only transactions, and various scam claims clearly show that swaymarkets.com is not a genuine broker.
Investors need to be very careful and stay away from this broker.
How to Recover Lost Funds from the Sway Markets Scam?
If you’ve lost money to the Sway Markets scam, immediate action is crucial. Lycan Retrieve specializes in assisting victims of cryptocurrency and forex scams in getting their money back. Our expert team provides legal assistance, chargebacks, and fraud recovery services. With a proven track record, we offer a Free Consultation to evaluate your case. Keep your hard-earned money safe from scammers.
Get in touch right now to regain financial control.