Forex Traders always look for trading with reliable, user-friendly, and regulated forex brokers that suit their trading preferences and strategies. Forex brokers’ regulations ensure fund safety and security. Without proper regulation, you could be putting your investments at risk. If you’re considering using FxSway as your forex broker, you may wonder if they are regulated.
FxSway is an offshore forex broker. It is not regulated by any regulatory authority. In this blog post, we will explore the regulatory status of FxSway, its strengths and weaknesses, and alternatives to FxSway.
Is FxSway Regulated?
No, FxSway is not a regulated forex broker. It is an unregulated offshore forex broker. Many traders settle for unregulated offshore forex brokers to enjoy restriction-free trading (Forex, CFD, Indices) with high leverage and low spread.
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
Pros and Cons of FxSway
FxSway is an unauthorized forex broker. Still, many traders settle for FxSway for high leverage and restriction-free trading options. Here are the pros and cons of FxSway
Pros
- 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
Alternatives of FxSway
FxSway is a popular offshore offshore forex broker. However, other brokers can serve as alternatives to FxSway. Some of the alternatives are regulated by top tire regulators. These alternative brokers include
Frequently Asked Questions ( FAQs)
What is FxSway?
Founded in 2021, FxSway is an unregulated offshore forex broker that offers trading services in Forex, Crypto, Stocks, Indices, and Commodities with leverage of up to 1:500.
What is Forex Broker Regulation?
Forex broker regulation refers to the oversight and compliance with rules and standards set by financial regulatory authorities. These regulations aim to protect traders, ensure market integrity, and maintain a fair trading environment.
Is FxSway an ECN Forex Broker?
Yes, FxSway operates as an Electronic Communication Network (ECN) forex broker, providing direct access to liquidity providers and offering competitive pricing and execution.
Is FxSway a Safe Broker?
FxSway has been providing services with a reputation. However, the broker is not regulated by any regulatory authority. As a result, trading with FxSway involves inherent risks due to the lack of regulatory oversight. Traders should carefully consider these risks before engaging with the platform.
Is FxSway Regulated in the USA?
No, FxSway is not regulated in the USA. In fact, it is not regulated by any regulatory authorities.
Is FxSway Regulated in the UK?
No, FxSway is not regulated in the UK. The brokers of the UK are usually regulated by FCA, and FxSway is not regulated by this regulatory authority.
Is FxSway Regulated in Canada?
No, FxSway is not regulated in Canada.
Final Thoughts :
FxSway is an unregulated broker offering forex, CFDs, and Crypto Trading via the TradeLocker trading platform. Since it is an offshore forex broker, it can onboard clients from anywhere in the world. The broker allows traders to trade with any style including scalping, hedging, EA Trading, news trading, and so on.
Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with unregulated brokers puts your funds at higher risks
