Desk file · 2026 edition · record confidence: low
Sway Markets
We opened the file on Sway Markets the way we open every file: register first, marketing never. Trading since 2021, run out of Kingstown, Saint Vincent and the Grenadines, and carrying 2 licence entries on the public record, 0 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| None (SVG company registration only; CFTC RED List entry) | Saint Vincent and the Grenadines | T3 | Sway Markets Pty Ltd LLC (SVG Company No. 1647 LLC 2021) | cftc.gov | |
| ASIC (company register — deregistered; ABN cancelled 25 Jun 2025) | Australia | T1no longer active | Sway Markets Pty Ltd (ACN 663 928 158) | publishednotices.asic.gov.au |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- The CFTC added Sway Markets (swaymarkets.com, origin Saint Vincent and the Grenadines) to its Registration Deficient (RED) List on 29 May 2025 (https://www.cftc.gov/REDlist/node/255436).
- ASIC published a proposed deregistration notice for Sway Markets Pty Ltd (ACN 663 928 158).
- Trade press reported in 2025 that Sway Markets suspended its brokerage operations while its prop-trading arm Sway Funded continued.
- Saint Vincent and the Grenadines FSA does not regulate forex or CFD trading, so an SVG registration is not a trading licence.
- Sway Markets' own legal pages state the operating company is 'Sway Markets Pty Ltd LLC', registered in Saint Vincent and the Grenadines under company number 1647 LLC 2021, and that the Australian entity Sway Markets Pty Ltd (ABN 16 663 928 158) operated only as a Corporate Authorised Representative (CAR 001300469) of MGF Capital Pty Ltd (AFSL 421246), authorised for wholesale clients only and not as a product issuer of OTC derivatives (https://web.archive.org/web/20230207123501/https://swaymarkets.com/about-us/).
- ABN Lookup shows the ABN of Sway Markets Pty Ltd (16 663 928 158) was cancelled from 25 June 2025 (https://abr.business.gov.au/ABN/View?id=16663928158).
- The broker's own trading rules stated a $10 minimum deposit, and its terms authorised the firm to sell, pledge, rehypothecate, assign, invest, commingle or otherwise use client collateral (https://web.archive.org/web/20230207110450/https://swaymarkets.com/cookies-and-privacy/).
- The US CFTC placed Sway Markets on its RED List on 29 May 2025, stating the entity solicits and/or accepts funds from US customers, appears to require CFTC registration but is not registered, and noting the listing is not a finding of a violation (https://www.cftc.gov/REDlist/node/255436).
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- founding year
- headquarters
- current operating status
- minimum deposit
- maximum leverage
- EUR/USD spread
- account types
- segregated funds
- negative balance protection
- founded — year 2021 derives from the SVG company number '1647 LLC 2021' in the broker's own archived legal footer; secondary sources date the Australian entity to November 2022; no regulator-register incorporation date found
- spreadEurusd — only advertised floors published ('typical spreads from 0.8 pips' ECN, 1.2 No Commission, 0.4 VIP); no typical EUR/USD figure stated
- negativeBalanceProtection — no negative-balance-protection statement found in the broker's archived documents
- platforms — seed lists MT4/MT5; archived site navigation (Feb 2023) showed MetaTrader 5 and MT5 Web Trader only; MT4 support unverified
- minDeposit/maxLeverage/accountTypes/instruments/segregatedFunds/hq — sourced from Wayback Machine captures because swaymarkets.com no longer resolves (checked 21 Aug 2026); current terms cannot be checked
- hq — the broker's terms give a Kingstown, SVG address for written objections; the Australian entity was registered in QLD; CFTC RED List entry records origin as St. Vincent and the Grenadines
| Founded | 2021 |
| Head office | Kingstown, Saint Vincent and the Grenadines |
| Minimum deposit | $10 |
| Leverage cap | up to 1:500 |
| EUR/USD | not verified pips |
| Tier-1 entries | 0 |
| Record confidence | low |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.