Sway Markets Review: Is Swaymarkets.com Legit or Scam?
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Sway Markets is an online trader that has gained a good reputation in forex, commodities, and cryptocurrency trading. However, with some recent occurrences and user experience, many are beginning to doubt the authenticity of the broker as well as the ways it conducts business. This full Sway Markets review discusses these issues so that possible investors would know what to expect with this entity.
Overview of Sway Markets
In 2022, Sway Markets was incorporated in Australia and stood as a broker providing a gateway to many financial markets through the MetaTrader5 (MT5) trading platform. Besides, the broker offered various account types, which included the ECN, No Commission, VIP, and Islamic accounts, with leverage options of up to 1:500. The official website of the company was https://swaymarkets.com/.
Website No Longer Available
As per the latest checks, the complete site of the Sway Markets has become inaccessible. This sudden disappearance of a website is a big red flag, for a broker’s official website is crucial to its operational basis and credibility. Such a sudden inaccessibility usually highlights core problems such as insolvency or regulatory action.
No Valid Regulatory Claims
The Sway markets assert to be licensed with the Australian Securities and Investments Commission (ASIC), a reputable body for financial regulation, without solid evidence offered to confirm this claim. ASIC does not register the web address of the licensee for verification which makes verification related to the regulatory status of Sway Markets challenging. This shortage of verifiable points creates room for speculation about the legality of this broker.
What Arguments Indicate Sway Markets Would Be a Scam?
Several reasons give rise to a belief that Sway Markets might be operating a scamming outfit:
Lack of verifiable regulatory status:
Most alarming is the failure to establish the broker’s alleged ASIC regulation. This means allowing the broker not to be held to the stringent levels of standards that ought to be resident in protecting investors.
Unavailable Website:
The sudden unavailability of the official site points to some kind of operational or legal problems almost always followed by fraudulent entities abruptly shutting their businesses.
Complaints by Users:
The most common signs of a scam operation are complaints about withdrawal difficulties and unresponsive customer service. Generally, such operations are designed to scam investors, taking their money with no idea of what to do with the legitimate services.
Opaque Operations:
The company increasingly in lack of verifiable and straightforward information regarding operations, regulatory status, and financial practices.
Is Sway Markets Legit?
Considering all these red flags combined, such as unverifiable regulation claims, lack of access to the website, user complaints, and lack of transparency, it does not seem wise to call Sway Markets a legitimate broker. There are high chances of exposing investors to huge risks by dealing with unregulated and nontransparent brokers as capital loss may occur without any legal remedy.
Take Action Today!
If you have been a victim of a scam broker like Sway Markets, don’t hesitate to seek professional help. For victims of cryptocurrency and other frauds, Crypto Scam Investigation is a top agency offering investigation and recovery services. To begin retrieving your stolen money, visit cryptoscams.com.au right now.
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