FxSway Review

In today’s connected world, money scams are common. People need to be careful and know what they’re doing to keep their money safe from bad people and scams. One company, called FxSway, has been talked about a lot in finance lately. But, as time went on, many signs showed up that something might be wrong with FxSway. People who invested their money started worrying. This review has all the details about FxSway. Read it carefully to decide if FxSway is a scam or a legit company.

What is FxSway?

Before we decide if FxSway is real or a scam, let’s first understand what the company offers. FxSway is a financial brokerage firm that started in 2021. They promise great trading chances and make a lot of money. With FxSway, traders can trade forex, crypto, stocks, indices, and commodities. The company says they have low fees, good prices, fast trading, and expert help.

FxSway gives traders access to tools for trading for free, detailed market analysis, over 100 types of orders, a calculator for traders, and more. After doing a lot of research, we found some concerns about if FxSway is trustworthy and follows the rules set by regulators. We’ll talk about these concerns next.

🏢 Headquarters Saint Vincent and the Grenadines
🗺️ Type of License No license
Established in 2021
Recommended Licenses FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
Is Moon4Traders safe to trade?  No

Is FxSway a scam or a legit broker?

No, FXsway doesn’t have a license. It doesn’t say it’s licensed and hides where it is. Luckily, we found out that FXsway might be doing financial scams, Forex scams, binary & cryptocurrency scams, and fraud, which makes us doubt if it’s a real company.

Unregulated and Unauthorized Operations: One big worry about FxSway is that it isn’t properly checked by trusted financial authorities. Good financial companies follow rules set by important groups that watch over them. This helps keep things fair for people who invest money. But FxSway doesn’t seem to follow these rules. This means investors might be at risk of being cheated.

False Advertising and Misrepresentation: People have said in many reviews that FxSway uses tricky ways to get people to invest with them. They promise to make a lot of money quickly, which isn’t always true. This tricks people into giving them lots of money without knowing all the risks. By not being honest about what they offer, FxSway might be fooling investors and making it easier for fraud to happen.

Withholding and Manipulation of Funds: Many complaints have come up saying that FxSway doesn’t give people their money when they ask for it. They also do things that aren’t fair when people try to take their money out. This makes people question if FxSway is really a safe place to invest. Some people even say that FxSway changes prices on purpose to hurt investors and help themselves make more money.

Lack of Transparency and Poor Customer Support: It’s really important for a financial company to be clear about how much they charge and how things work. Sadly, FxSway isn’t very clear about these things. People who have had problems with FxSway also say that the company doesn’t help them much when they have issues. This means FxSway isn’t doing a good job of taking care of its customers.

FxSway Alternative Brokers

Because people worry about FxSway being reliable and safe, we suggest traders look at other options. These alternatives have stricter rules and better trading conditions. Here’s a list of trusted brokers to consider: Interactive Brokers, Pepperstone, Eightcap, E-Trade, and TradeStation.

Deposits and Withdrawals

The broker only accepts deposits using different types of crypto money. This is common for brokers based in other countries, who like crypto deposits because they can’t be traced easily and there’s no way to reverse them if there’s a problem. So, be cautious about who you give your crypto money to!

To put money into their FxSway accounts, traders just need to log in, go to where it says “deposits,” pick a type of crypto, and put in some money. The smallest amount of money you can put in is $10, and there’s no extra fee for depositing. After you finish depositing, it takes 3 to 6 confirmations on the crypto network for your money to be ready to use. This usually takes 1 to 3 hours, depending on the Blockchain.

Right now, you can only take money out in Bitcoin. Normally, taking out money takes a few hours, but it depends on the network. Still, it’s smart to be careful, especially with taking money out, because lots of traders have raised concerns about FxSway’s withdrawal process.

Account Types

FxSway gives different kinds of accounts: Standard, Var, Pro, and Mini. Each account has different rules for trading. All accounts have a maximum leverage of 1:500. Pro accounts have very low spreads, starting at 0.4 pips. Var accounts don’t charge any commissions. Standard, Pro, and Mini accounts charge commissions ranging from $1 to $9 per lot.

Final Thoughts

After looking into FxSway in this review, we’ve reached a conclusion: it’s not a trustworthy broker. Before putting your money in any bank or investment firm, it’s smart to do your homework and make sure they’re trustworthy. Also, there have been a lot of reports about scams and fraud connected to FxSway. This makes it hard to trust them. It’s better to look for brokers who follow the rules, are clear about what they do, and have good customer service. Remember, it’s crucial to protect your money to keep it safe from scams and fraud.