Sway Markets

The Official Website Of Sway Markets Cannot Be Accessed Normally At The Moment. The Company Seems To Have Gone Out Of Business. Therefore We Can Only Gather Some Relevant Information For Reference Only.

What Is Sway Markets?

Sway Markets Is An Online Broker That Provides Forex, Commodities And Cryptocurrency Trading Services. The Company Was Established In 2022 And Is Headquartered In Australia. Sway Markets Offers Clients The Opportunity To Access Financial Marekt Through The Metatrader5 (mt5) Trading Platform. They Offer ECN, No Commission, VIP And Islamic Account Types With Leverage Up To 1:500.

Pros And Cons

Pros: ASIC Regulated, Competitive Spreads And Commissions, No Commission Accounts Available, MT5 Platform Available, High Leverage Of 1:500, Multiple Account Types Including Islamic Accounts, Responsive Customer Support

Cons: Only Accept Cryptocurrency Deposits And Withdrawals, Limited Educational Resources, Relatively New Brokerage, Limited Track Record

Sway Markets Is Licensed By The Australian Securities And Investments Commission (ASIC), A Reputable Financial Regulator. This Means That Sway Markets Needs To Adhere To Certain Standards And Regulations, Which Can Provide Traders With A Level Of Assurance.

That Being Said, It Is Always Important To Conduct Your Own Research And Due Diligence Before Choosing A Broker. This Can Include Reading Comments From Other Traders, Checking For Any Regulatory Or Legal Issues, And Ensuring That The Broker's Terms And Conditions Match Your Trading Objectives And Preferences.

Market Tools

Sway Markets Offers A Wide Range Of Trading Instruments, Including, Forex, Cryptocurrencies, Stocks, Indices, Commodities, And Futures. This Can Be Beneficial For Traders Looking To Diversify Their Portfolio And Take Advantage Of Opportunities In Different Markets. However, Different Trading Instruments Carry Different Levels Of Risk And Volatility, And Traders Should Ensure That They Understand The Risks Involved Before Trading Any Particular Instrument.

Account

Sway Markets Offers Four Different Account Types, Including ECN, No Commission, VIP, And Islamic Accounts.

E-newsletter Account: Spreads Start From 0.8 Pips For This Account Type, And Commissions Start From $7.50 Per Lot.

No Commission Account: Spreads Start From 1.2 Pips For This Account Type, And No Commissions Are Charged.

VIP Account: This Account Type Has Spreads Starting From 0.3 Pips And Commissions Starting From $3.50 Per Lot.

Islamic Account: This Account Type Is Designed For Traders Who Want To Trade In Accordance With Sharia Law. Islamic Accounts Have No Swap Or Rollover Fees, But They Have Larger Spreads Compared To Other Account Types.

The Minimum Deposit Is $10. Each Account Type Has Its Own Advantages And Disadvantages. Traders Can Choose The Account Type That Best Suits Their Trading Needs And Preferences.

Leverage

It Is Important To Note That Leverage Is A Risk Tool That Can Amplify Both Profits And Losses. Although Sway Markets May Offer Up To 1:500 It Is Essential For Traders To Fully Understand The Risks Involved And Use Appropriate Risk Management Strategies.

Spreads And Commissions

Sway Markets Offers Different Account Types With Different Spreads And Commissions. This ECN And Islamic Accounts, Seem To Have The Lowest Spreads Starting From 0.8 Pips, While, Commission-free Accounts, Start With Slightly Higher Spreads Starting From 1.2 Pips. This, VIP Accounts, Seem To Have The Lowest Spreads Starting From 0.3 Pips And Commissions Starting From $3.50 Per Lot.

On The Other Hand, ECN And Islamic Accounts, Seem To Have Commissions Starting From Up To $7.50 Per Lot, While, Commission-free Accounts Have No Commission Fees. It Is Worth Noting That These Values May Depend On The Trading Instrument And Volume.

Comprehensive, Sway Markets Seems To Offer Competitive Trading Conditions And A Variety Of Account Types To Meet Different Trading Needs.

Trading Platform

Sway Markets Offers The Popular MetaTrader5 (MT5) Platform. The MT5 Platform Is Available For Download On Desktop And Mobile Devices, Allowing Traders To Access Their Accounts And Trade From Anywhere Via An Internet Connection. The Platform Has A Wide Range Of Trading Tools And Indicators, As Well As The Ability To Use Automated Trading Strategies Through Expert Advisors (EAs).

Deposits And Withdrawals

Sway Markets Only Accepts Deposits Through The Following Methods. Cryptocurrencies Such As Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Dogecoin (DOGE) And Tether (USDT) Are Also Processed In Bitcoin (BTC).

Sway Markets Withdrawal

To Exit Sway Markets, You Need To Perform The Following Steps:

Step 1: Log In To Your Sway Markets Account And Navigate To The Withdrawal Section.

Step 2: Select Cryptocurrency (BTC) As The Withdrawal Method.

Step 3: Enter The Amount Of BTC You Want To Withdraw.

Step 4: Confirm The Withdrawal Request And Wait For Processing.

Step 5: After The Withdrawal Is Processed, BTC Will Be Sent To The Wallet Address You Provided At The Time Of The Withdrawal Request.

It Is Important To Note That Sway Markets Only Accepts Withdrawals Via The Following Methods, Bitcoin, So You Must Have A BTC Wallet In Order To Receive Funds.

Client Server

Sway Markets Indicates On Their Website That They Offer 24/7 Customer Support Via Live Chat, Email And Phone. They Also Have A, Frequently Asked Questions (FAQ) Section On Their Website That Covers Various Topics Related To Account Opening, Financing, Trading And More. You Can Also Follow Them On Some Social Networks Such As Facebook, Twitter, Instagram, YouTube And Telegram. It Is Not Clear How Responsive Or Helpful Their Client Server Team Is, As There Are Not Many User Reviews To Refer To.