MidasFX and Sway Markets are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review MidasFX and Sway Markets by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
MidasFX vs Sway Markets: In a Nutshell
MidasFX
Founded in 2020, MidasFX is an online forex and CFD broker. It is an offshore forex broker that offers 100+ trading instruments including forex, metals, energies, stock indices, and cryptocurrencies to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of MidasFX is as high as 1:1000.
MidasFx Overview
- Founded In: 2020
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Regulations: None
- Trading platform:MT4, MT5
- Account Types: Raw spread (ECN) and spread-only (STD) accounts on both MT4 and MT5.
- Payment Options: Steller, Instacoins, Ethereum, Litecoin, Bitcoin
- US Traders: Accepted
Sway Markets
Founded in 2023, Sway Markets is an online forex and CFD broker. It is an unregulated forex broker that offers 100+ instruments including Forex, Cryptos, Metals, Indices, Stocks & Commodities. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of Sway Markets is as high as 1:500.
Sway Markets at a Glance
- Founded Year: 2023
- Location: St Vincent & Grenadine
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: WebTrader, iOS, Android,Windows, MAC
- Account Types: VIP, ECN, No Commission, Islamic
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: BTC and USDT
- US Traders: Accepted
MidasFX vs Sway Markets: Side By Side Comparison
MidasFX vs Sway Markets: Pros and Cons
MidasFX Pros & Cons
- No Minimum Deposit- You may deposit as low as $1
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients. Maximum leverage is as high as 1:1000
- Allow Scalping, EA Trading, and News Trading
- MidasFX Accepts Crypto Deposits
- Unregulated offshore forex broker
- Limited Deposit and Withdrawal Option
- No Managed Account Options
Sway Markets Pros & Cons
- The maximum leverage is as high as 1:500 ( Leverage may vary based on account types and tradable asset types, for example, Forex: 1:500, Indices: 1:200, Commodities: 1:200, Crypto: 1:100, Stocks: 1:10)
- Allow Crypto CFD Trading
- Offers 100+ trading instruments including 100+ trading instruments including Forex, Cryptos, Metals, Indices, Stocks & Commodities
- Raw spread starting from as low as 0.0 pips
- Offers its own platforms: Sway Charts, Sway Charts Pro
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- Sway Markets Accepts Crypto Deposits
- Offers only its own trading platforms (Sway Charts). No other trading platforms are offered
Cons:
- Unregulated offshore forex broker
- Very limited deposit and withdrawal methods ( Cryptos and Skrill)
- A limited number of tradable assets
Final Thoughts:
MidasFX and Sway Markets are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services; they both allow scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both of them is 0.01
However, there are a few areas where you may find some differences. For example, MidasFX supports the MetaTrader (MT4/MT5) trading platforms. On the other hand, Sway Markets does not support the MetaTrader (MT4) trading platform. It uses WebTrader, iOS, Android,Windows, MAC trading platform. The minimum deposit for MidasFX is $1, whereas the minimum deposit for Sway Markets is $10. Additionally, the maximum leverage for MidasFX is 1000:1, while the maximum leverage for Sway Markets is 500:1.
Our score for MidasFX is 4.4, and for Sway Markets, it is 4.5 So, If you are looking for a high-leverage offshore broker with MT4/MT5 trading platform you may choose MidasFX. However, if you prefer not to use MT5/MT5, you may choose Sway Markets.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks
