ProsperityFX and FXSway 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 Prosperityfx and FXSway 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.
ProsperityFX vs FXSway: In a Nutshell
ProsperityFX
Founded in 2020, ProsperityFX is an online forex and CFD broker that provides access to over 200 trading instruments on its MT4 platform. The broker supports multiple account types, ECN raw spreads, and fast trade executions. ProsperityFX allows all trading strategies, including scalping, hedging, and news trading. With its crypto-based funding system, traders can deposit and withdraw without extra charges. The broker offers 24/7 customer support, ensuring assistance at any time. To learn more, you can read our review on ProsperityFX
ProsperityFX Overview
- Founded In: 2020
- Minimum Deposit: Between $25 and 500 (Standard Account: $50, Pro: $500, Var: $250, Mini: $25, Islamic:$50
- Maximum Leverage: 500:1
- Regulations: None
- Trading platform: MT4
- Account Types: Standard, Pro, Var, Mini
- Payment Options: VISA, MasterCard, Bitcoin
- US Traders: Accepted
FXSway
Founded in 2021, FxSway is an online forex and CFD broker. It is an offshore forex broker that offers Forex, Crypto, Stocks, Indices, and Commodities to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of FxSway is as high as 1:500.
FxSway at a Glance
- Founded Year: 2021
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- Regulations: None (Unregulated Offshore Broker)
- Trading platform: TradeLocker (Desktop, Web, Mobile)
- Account Types: Standard, Var, Pro, Mini
- Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
- Payment Options: Cryptocurrencies ((BTC, ETH, XRP, LTC, DOGE & USDT)
- US Traders: Accepted
ProsperityFX vs FXSway: Side By Side Comparison
ProsperityFX vs FXSway: Features
ProsperityFX
- Trading Instruments: Forex, Indices, Commodities, Stocks and Crypto
- Trading Platforms: MT4
- Minimum Deposit: $25
- Maximum Leverage: 1:500
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.8 pips for the Standard account, $8 per lot for the Pro account, No Commission for the VAR account, $7 per lot for the Islamic account, and $1 for the Mini account.
- Minimum Trade Size: 0.01 lot.
- Funding Currencies: BTC/USD
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Stop Out Level (retail): 50%
- Margin Call Level: 100%
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
FXSway:
- Trading Instruments: Forex, Cryptos, Metals, Indices, Stocks & Commodities
- Trading Platforms: TradeLocker
- Minimum Deposit: $10
- Maximum Leverage: 1:500
- STP execution: with Level 2 Pricing
- Trading Fees: Commission Per Lot from $1 to $9.00. Variable spreads from 0.4 pips. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 1000 Lots
- Funding Currencies: Bitcoin, Dogecoin (DOGE), Ether/Ethereum, Litecoin, Other Crypto Currencies, Ripple (XRP), Tether (USDT)
- Trading Style Allowed: All including Scalping, hedging, News trading, and EA Trading.
- PAMM/ MAM: Available
- Negative balance Protection: Yes
- Investor Protection: No investor protection is Available.
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
ProsperityFX vs FXSway: Pros and Cons
ProsperityFX Pros & Cons
- Low Minimum Deposit - Starting from $10
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading and News Trading
- ProsperityFX Accepts Crypto Deposits
- Offshore Broker with very limited information
- Limited Deposit and Withdrawal Option
- Spread sometimes widens during market volatility
- Unregulated Forex broker
- No Managed Account Options
FXSway Pros & Cons
- Low Minimum Deposit - Starting from $10
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients.
- Allow Scalping, EA Trading, and News Trading
- FxSway Accepts Crypto Deposits
Cons:
- Unregulated offshore Forex Broker
- Only Crypto Deposit and withdrawals are available
- Meta Traders (MT4/MT5) are not available. Only TradeLocker is offered
Final Thoughts:
ProsperityFX and FXSway 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, ProsperityFX does not support the MT5 trading platform; instead, it uses the MT4 trading platform. On the other hand, FXSway supports TradeLocker trading platforms. The minimum deposit for ProsperityFX is $25, whereas the minimum deposit for FXSway is $10. Additionally, the maximum leverage for ProsperityFX is 500:1, while the maximum leverage for FXSway is 500:1.
Our score for ProsperityFX is 3.6, and for FXSway, it is 4.3. If you are looking for a high-leverage offshore broker with TradeLocker trading platform you may choose FXSway. However, if you prefer not to use MT5, you may choose ProsperityFX.
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
