FxSway is a Saint Vincent and the Grenadines-based online trading firm that is owned by FxSway LLC. You cannot get in touch with them by phone and perhaps email at support@fxsway.com. Visit their website at fxsway.com.
Overview
The fact that FxSway is mostly dependent on bitcoin and that it is the sole way to fund a trading account makes it rather unusual. The broker also has a system in place that enables anybody to acquire bitcoin using a credit or debit card and have it transferred immediately to the broker, so it does not imply it is impossible to trade with this broker for individuals who do not already have bitcoin.
Broker Status: | Offshore Scam Broker |
Broker Regulation: | Unlicensed Forex Provider / No Regulation |
Scammers Websites: | fxsway.com |
Operating Status: | Active Forex Trading Scam |
Blacklisted as a Scam by: | N/A |
Broker Owner: | FxSway LLC |
Headquarters Country: | Saint Vincent and the Grenadines |
Foundation Year: | 2021 |
Trading Platforms: | MT4 |
Mobile Trading: | Available |
Minimum Deposit: | $10 |
Deposit Bonus: | N/A |
Crypto Trading: | Available – 18 total |
CFD Trading: | Yes, you can trade CFDs |
Trading Instruments: | Forex, commodities, indices, shares, cryptocurrencies |
Maximum Leverage: | 1:500 |
Islamic Account: | Not Available |
Demo Account: | No, only live trading accounts |
Accepts US Clients: | US traders are not accepted |
Is FXsWay Regulated?
The FxSway LLC, which is based in Saint Vincent and the Grenadines, is the owner of the FXsway Forex brand.
Since the FSA changed its status from the regulator to register, there has been a significant influx of Forex and CFD firms into this nation. Of course, operating free from governmental oversight is their major concern, but they also need to demonstrate that the company is registered. Innocent clients won’t suspect fraud this way.
Another offshore swindler broker is FXsway. The company lacks financial restrictions and is unreliable.
Warnings From Financial Regulators
Financial regulators from UK, Canada, and Australia announced several warnings against this platform. IIROC (the regulatory body of Canada) already issued a notice against this platform due to its fraudulent activities.
Is FXsWay Can Be Trusted?
We looked through the FCA, ASIC, BaFin, and various other Tier1 registries but couldn’t find any references to the owner or regulation of FXsway. We may thus draw the conclusion that this company is a scam and that our intuition was correct.
What kind of currency pair do they offer?
They offer currency pairs of EUR/USD, CAD/JPY, GBP/EUR. Also, you can trade with cryptocurrencies, commodities, and shares.
Customer Support
The one thing we don’t like about FxSway’s customer support choices is not being able to call the broker directly. Unfortunately, there is no direct phone number provided and the website just offers a call-back option. But like other brokers, FxSway also has a live chat feature that it says is available around the clock.
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Trading Method (MT4 or MT5)
When we discovered the FXsway trading platform, we were pleasantly impressed. The broker provides MT4, the top trading platform in the market. It enables automatic features, EAs, and social trading and has the most charts and indicators available. What then is the issue?
The broker herself is the issue. If the company is not governed, it may simply manipulate the trading program without being stopped. Changing the trades and market pricing is difficult to observe, and much more challenging to establish and punish because the firm does not belong under anyone’s oversight. This is one additional reason to stay away from this trading company.
What Do Traders Think Of FxSway?
After analyzing several platforms we found several complaints against this platform regarding their withdrawal policy, account blocking, and their cunning customer service behavior.
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What To Do If You Get Scammed?
If you are a new investor and get trapped in FXsWay’s trap, nothing to worry. Just report a scam to us and we will listen to your story to find out a way of getting back your lost money. Our expert team will help you to contact legal bodies and organizations who can definitely get your money back.
Final Thoughts
Always check the platform’s authority, regulations, and security to protect your investment. Also, never respond to unsolicited calls and messages. If you are aware, your money will be secured.
