In the FxGecko app, you can reference the top 100 forex brokers for your selection. If not in the top 100, pay special attention to the broker's primary white label relationships and risk alerts.

Recently, some investors asked if Sway Markets (Sway Markets Pty Ltd) is safe.

Based on information from the FxGecko app, Sway Markets poses significant risks as a forex broker due to lack of proper licensing and regulation.

Sway Markets Pty Ltd was registered in St. Vincent and the Grenadines in 2023. However, it's important to note that the Financial Services Authority of St. Vincent and the Grenadines does not issue licenses for forex trading, brokerage, or binary options trading activities.

Moreover, Sway Markets claims to be authorized to conduct financial services in Australia. Upon verification, it was revealed that Sway Markets Pty Ltd is only an authorized representative, specifically an Australian Financial Services Authorised Representative. This means that Sway Markets is not licensed by ASIC to conduct forex trading or brokerage activities.

To verify Sway Markets' regulatory status, interested parties can contact ASIC directly through this link:

 https://asic.gov.au/about-asic/contact-us/)

In summary, Sway Markets (Sway Markets Pty Ltd) is an unregulated forex broker lacking a valid forex trading or brokerage license. Trading with such brokers exposes your funds and personal information to risks, as these platforms operate without regulatory oversight. In the event of financial loss, it can be challenging to protect your rights due to the absence of regulatory scrutiny and protections.

FxGecko reminds you that there are many ways that scam trading platforms package themselves, such as:

-Cloning legitimate brokers;

-Impersonating regulatory information with registration information;

-Using a legitimately regulated company as a signboard, but actually soliciting clients with illegitimate subsidiaries;

-Luring you to invest with fake trading experts and profitability data, etc.

Scammers' methods are endless and often very secretive.

Therefore, FxGecko recommends that you always do your due diligence and check the qualification information of the trading platform before investing.

Stay away from unregulated, low rated and risky trading platforms to avoid potential scams.

You can check the regulatory information and risk information of global brokers on the FxGecko app.

Also, you can make a complaint or inquire about any trading platform on the FxGecko app.

Reminder 1: The trading market is full of uncertainty, do not blindly pursue high returns. And always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely to be scams.

Reminder 2: Don't trust individuals or organisations who claim to be able to get your money back - they may be selling hope and scamming you again. This is especially true if they ask you to pay in advance, which is a "recovery scam".

If you've been scammed, your best option is to gather evidence and report it to your local police and law enforcement as soon as possible.

In the meantime, you can also file a complaint on the FxGecko website or app, where staff will further expose the scam to alert others not to be scammed.

Before trading, check brokers in FxGecko app; if you encounter any problems, you can file a complaint for help.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.

Click here to recognize common investment trading scams to avoid being scammed.