Sword Capital
Pros and Cons
Pros
- Diverse range of trading instruments including forex, commodities, indices, and stocks
- Availability of a demo account for practice trading
- Multiple account types tailored for various trader needs
- Support for advanced trading platform MT5
- Convenient mobile app for trading on-the-go
Cons
- Holds a revoked license from DFSA
- Lack of fund protection measures
- No cryptocurrency trading available
- Potential withdrawal fees depending on payment method
- Inactivity fees may apply for dormant accounts
Basic Information
User Reviews
Sword Capital Overview
Sword Capital Financial Brokerage, established in 2013 and headquartered in Kuwait, is an emerging player in the forex trading landscape. With an operating period of 5-10 years, the broker aims to cater to various trading needs. It is important to note that Sword Capital currently holds a revoked license from the Dubai Financial Services Authority, which necessitates caution for potential traders considering this broker’s services.
Is Sword Capital Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Dubai Financial Services Authority (DFSA) | UAE | None – License Revoked |
Is Sword Capital Regulated and How Are Client Funds Protected?
The broker Sword Capital Financial Brokerage is not regulated by any recognized financial authority, as it currently holds a revoked license from the Dubai Financial Services Authority. This lack of regulation poses significant risks for potential traders, including diminished investor protection and a higher potential for fraud. It is crucial for traders to exercise extreme caution when considering engagement with unregulated brokers like Sword Capital, as the absence of regulatory oversight can lead to challenges in recovering funds or resolving disputes.
Trading Products and Services
What Trading Instruments Does Sword Capital Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Not Available |
Sword Capital offers a diverse range of trading instruments, including forex pairs, commodities, indices, and stocks. This variety caters to different trader profiles, from beginners to seasoned professionals, allowing each trader to develop and implement their unique trading strategies. By providing multiple asset categories, Sword Capital enables traders to diversify their portfolios, which can mitigate risks and enhance potential returns. This flexibility supports a wide range of trading styles, whether users prefer short-term trading or long-term investing. Overall, Sword Capital’s offerings are designed to meet the needs of various traders looking to engage effectively in the financial markets.
Account Types and Trading Conditions
What Account Types and Fees Does Sword Capital Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Personal Account | Beginners and individual traders | Access to a range of trading instruments and demo account availability | Suitable for personal trading and practice |
| Corporate Account | Corporate clients and businesses | Customizable services tailored for corporate needs | Requires corporate documentation |
| IB Account | Introducing brokers | Commission structure for referring clients | Designed for those looking to build a client base |
| Hedge Fund Account | Institutional investors and hedge funds | Specialized trading conditions for larger capital | High trading volume qualifications apply |
| Demo Account | All traders | Practice trading without financial risk | No financial commitment required |
Account Opening Process
The account opening process with Sword Capital involves several steps. Prospective clients need to submit personal information, including details about their employment and financial status. Following this, identity verification is required, which includes providing an ID and proof of address. It is also important to note that clients may have the flexibility to upgrade to a professional account later based on their trading activity and requirements.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 | Market spread applies |
| CFDs (Stocks) | Varies | $0 | Commission-free trading |
| CFDs (Indices) | Varies | $0 | Commission-free trading |
| CFDs (Commodities) | Varies | $0 | Commission-free trading |
| Cryptocurrencies | Not Available | N/A | No cryptocurrency trading offered |
Other Fees
Additional fees that traders should be aware of include deposit and withdrawal fees, which may apply depending on the payment method used. Inactivity fees may also be charged if an account remains dormant for a specified period. Furthermore, platform usage fees may be applicable, as well as overnight interest (swap rates) for positions held overnight. Currency conversion fees may also occur when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Sword Capital Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT5 | Windows, macOS, iOS, Android | Login security (encryption), multiple order types, technical indicators, economic calendar | Demo account, API interface |
| Sword Mobile App | iOS, Android | Convenient login, price alerts, push notifications | Demo account |
| Web Version | Windows, macOS | Market search (symbol lookup), one-click trading | N/A |
Sword Capital provides access to multiple trading platforms, including MT5, which is well-suited for advanced traders needing various tools. The Sword Mobile App enhances trading convenience, allowing users to operate anytime with secure logins and real-time alerts. Each platform supports quick order execution and effective market search functionalities, catering to traders’ diverse needs.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | KWD, USD, EUR |
| Bank Transfer | 3-5 days | No platform fee | Min 100, Max 20k/day | KWD, USD |
| e-Wallet (e.g., Skrill) | Instant | 1.5% fee | Min 50, Max 5k/day | KWD, USD |
Minimum Deposit
The minimum deposit requirement at Sword Capital is set at KWD 50. This amount remains consistent across various payment methods and account types, ensuring an accessible entry point for traders looking to engage with the platform.
How to Withdraw
To withdraw funds from your Sword Capital account, follow these steps:
- Log into your Sword Capital account.
- Navigate to the ‘Withdrawal’ section of your account dashboard.
- Select your preferred payment method for withdrawal.
- Enter the withdrawal amount within the specified limits.
- Confirm your withdrawal request and review the transaction details.
- Submit your request; processing times will vary based on the chosen payment method.
Customer Support
Sword Capital Customer Support Overview
Support Channels
Sword Capital provides multiple channels for customer support, ensuring traders can reach out for assistance as needed. The primary contact methods include:
- Email: Customers can contact support via support@sword-capital.com for any inquiries or assistance.
- Telephone: For direct communication, traders can call +965 22468817-3.
- Social Media: Sword Capital is also reachable through various social media platforms, including Twitter and Instagram, allowing for convenient interaction.
Service Availability
The customer support service at Sword Capital operates during business hours. Specific support hours are not detailed, but the broker’s presence on social media indicates an effort to be available to customers. Multilingual support is also available, though the specific languages supported are not mentioned.
Frequently Asked Questions
Sword Capital currently holds a revoked license from the Dubai Financial Services Authority (DFSA). This lack of regulation means there are no fund protection measures in place, posing significant risks for traders. It is essential for potential clients to exercise extreme caution when considering this broker, as the absence of regulatory oversight can complicate fund recovery and dispute resolution.
Sword Capital offers a diverse range of trading instruments, including forex pairs, commodities such as gold and oil, indices like the S&P 500 and NASDAQ, and stocks from the US and UK. However, cryptocurrency trading is not available. This variety allows traders to diversify their portfolios and implement different trading strategies.
Sword Capital offers several account types tailored to different user groups, including Personal Accounts for individual traders, Corporate Accounts for businesses, IB Accounts for introducing brokers, Hedge Fund Accounts for institutional investors, and Demo Accounts for practice without financial risk. Each account type has unique characteristics to meet the needs of various traders.
Sword Capital provides multiple channels for customer support, including email at support@sword-capital.com and telephone at +965 22468817-3. They are also reachable through various social media platforms. Customer support operates during business hours, and multilingual support is available, although specific supported languages are not detailed.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.