Sway Trade Markets Review – Is Sway Trade Markets Regulated?
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Sway Trade Markets Scam Warning: What You Need to Know
In the trading community, Sway Trade Markets has been gaining a lot of attention but, unfortunately, the attention that it has gained is overwhelmingly negative. There are numerous warning signs that investors should not ignore despite the claims of the broker making great returns on cryptocurrencies and financial services.
Trust Issues and Red Flags
One of the main issues with Sway Trade Markets is that it has a very low trust score. Based on several scam detection websites, the site swaytrademarkets.com has a trust score of only 1/100, which indicates a high likelihood of scamming. Scam Detector also gives it a rating of 38.8, which it categorizes as questionable, controversial, and flagged. These are strong warning signs that potential investors should avoid dealing with this site.
Regulatory Warnings
One of the most concerning signs about Sway Trade Markets is its regulatory standing. The ASIC has warned against the broker, affirming that it is operating without authorization. This is a major concern regarding the legitimacy and safety of any trade done on the platform.
Website Concerns
The official site, swaytrademarkets.com, is presently not working, which is another warning sign. Further, WHOIS information shows that the owner of the site is employed using a privacy protection service, hiding their identity. This transparency is typical of most scams, and it makes it even more dangerous for traders to believe the platform.
Negative Reviews and Customer Complaints
The Trustpilot reviews of Sway Trade Markets present a negative picture. One review specifically states, “I was deceived but I was able to get a chargeback when Rose Lane GP got on the case.” Numerous people have complained about being deceived. These claims imply that clients have had to turn to outside assistance to get their money back.
Moreover, there are many other dubious websites hosted on the same server with Sway Trade Markets, which raises another flag about the broker. Many scam operations exist on shared servers to evade detection, and this broker seems to fit that view.
High-Risk Financial Services
Sway Trade Markets promotes itself as a provider of high-risk financial services, including cryptocurrency trading and other speculative investments. Though high profits might be appealing, the absence of regulation and the sheer number of scam notices render it a risky option for investors. Such investment usually results in financial losses, as no measures are in place to ensure protection for the users.
Conclusion: Is Sway Trade Markets a Scam?
Sway Trade Markets is a scam, from all the proofs so far. This site cannot be trusted with all these attributes, a dead website, regulation warnings, non-disclosure ownership, and poor ratings from clients.
For those looking to invest, it is important to do thorough research and select regulated and reliable brokers. The dangers of platforms such as Sway Trade Markets are far greater than any possible returns, and it is best to avoid them and look for safer investments.
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