FXsway broker review – Signs of a scam at FXsway.com

FXsway: reliable broker or scam?

FXsway, although a new broker, is not yet licensed. When we discovered that the FSA Saint Vincent and the Grenadines is the governing agency, it alarmed us. We suspected that the scam was being perpetrated because this offshore island does not have a financial regulator. We were correct.

FxSway LLC is the registered owner of FXsway Forex brand. Since the FSA became a register and not a regulator, there has been a huge exodus from Forex and CFD firms to this country. Their main goal is to operate in an unregulated environment, but they also want to prove that the company is registered. This way, innocent clients will not suspect that the business is a fraud.

We found no trace of FXsway regulation, or the owner, when we checked ASIC, FCA, and many other Tier1 registers. We can conclude that this is a scheme to avoid, as our gut instincts were correct.

FXsway is another offshore fraud broker. The company is not reliable and does not have financial regulations. The firm has received negative reviews.

Is FXsway trading scam real?

FXsway broker is active since January 2021, under the domain fxsway.com. This is the main location where the firm operates:

• UK
• Canada
• Australia

Although the main page states that the firm doesn’t accept US clients we have received FXsway complaints. Is this a sign that the broker doesn’t follow its own rules and regulations? This wouldn’t be the first instance.

How do scam brokers contact victims?

Scammers often advertise on Facebook, Google, and Instagram. They advertise aggressively. Their ads will appear several times per day with different lures and promotions.

After you sign up and give your information, you will receive a lot of unsolicited emails and phone calls urging you to invest right away. FXsway reviews claim that the company’s account managers add clients to Telegram channels and groups, promising them special trading signals for a select group of traders. You will be lulled into believing you are getting more help.

Social media can be used to reach those who have not registered.

FXsway support-polite scammers

FXsway has a very nice support team. They are friendly, helpful, and available to answer any questions. They seem to always have the right answer and exactly what you need. They are highly skilled and can tell clients anything just to get them to deposit.

Even worse are account managers, who pretend to be your best friend and constantly approach you with new financial plans and ideas to get you to invest more. These same people will block your trading account if you ask for a withdrawal once you have done so.

FXsway MetaTrader4 Platform

The FXsway trading platform was a pleasant surprise. The broker provides MT4, which is the best in the industry. It supports most charts and indicators, as well as automated features, EAs, and social trading. What’s the problem?

The problem is with the broker. The broker is the problem. If it’s not regulated, they can manipulate trading software and there’s no way to stop them. Because the company is not under the supervision of anyone, it can easily manipulate the trading software and market prices. It’s difficult to spot and even more difficult to prove and punish. This is a reason to avoid this trading company.

MT4 mobile trading app

This MT4 also includes a mobile application, as with all MT4. FXsway login can be done from Android or iOS devices by clicking a link on the broker’s website. But, don’t forget to read about market manipulation. This is a very real problem, and it’s happening daily with offshore fraudsters.

What can I trade with the FXsway broker?

Broker FXsway appears to be focused on crypto trading, but there are only 18 digital currencies. Five major markets are available to clients, including:

• – EUR/USD, CAD/JPY, GBP/EUR
• – Dow Jones (NASDAQ, S&P500)
• – Amazon, Apple, Google
• – gold, corn, sugar
• – BTC, LTC, ETH

Fees and spreads

It’s amazing that the advertised spread for EUR/USD is only 0.8 pip. It would if we didn’t know the real intentions of the broker. Brokers that are not regulated often offer better trading conditions and lower fees. They don’t want to advertise spreads or swaps, but they do not seek a legitimate profit. You won’t see a penny back.

A review of trading accounts: What can they offer?

FXsway clients can choose from four account types:

• Standard
• Var
• Pro
• Mini

Accounts can vary in terms of spread, pricing, execution level pricing, or leverage. We do not have any information on particular account types, except the fact that FXsway requires a minimum deposit of $10.

PAMM accounts

The firm offers access to PAMM accounts in addition to regular Live accounts. PAMM stands to Percentage Allocation Management Modul. It means customers allocate their funds to a larger pool managed and managed by a money manager. Customers get a share of the profits made by the money manager if they trade. Clients pay the money manager a percentage of their profits. This is a smart way to invest, but it is not a good idea to give your money to unlicensed account managers.

Is it possible to trade with an FXsway Demo account?

All customers can access the FXsway Demo Account to try out the system. It is important to note that virtual money cannot be compared with real funds. There is nothing you can do if you have invested your entire life savings and you are unable to withdraw or a broker manipulates market conditions and you lose everything you’ve invested. The firm is not licensed.

How do I withdraw money from FXsway?

FXsway Withdrawal Policy states that customers can only withdraw funds via crypto. Although there are many digital coins that can be used to deposit money, the only way to get your money back is in Bitcoin. It is difficult to track cryptocurrency transactions and it can be very difficult to recover funds. Many scammers use crypto as their preferred payment method. You should at the very least use a payment option that offers some protection such as PayPal or credit card if you are depositing with unregulated brokers.

FXsway broker scammed you? Do not give up

Do not lose heart if you or someone you know is a victim of the FXsway scam. It is important to fight back and get what you are entitled to. Crypto transactions are encrypted and it is difficult to trace the funds. It is not easy, but it is possible. Assistance Refund has a lot of experience in dealing with scammers and finding stolen money.

FXsway: Video

Below you will find a short video about FXsway. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about FXsway!