That can’t be good for the trader
I had to check my calendar to see if it was April yet, thinking that this has to be some kind of prank or really sad joke.
First of all, ‘randomly-generated’ and ‘follows certain parameters’ sounds like an oxymoron and a way for those that control said parameters to manipulate and abuse the feed in their favor. Huge red flag, if you ask me.
Secondly, spreads and commission on an artificial, simulated market? Why?
Symbol names BOOM and CRASH? These guys are seriously stupid.
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love your total reply. the whole damn thing sounds like a scam.
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They can’t be serious, Indices based on nothing? What could go wrong? That random 400 point 5m bar spike based on nothing but random numbers… 
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I got another email, What if this becomes a real thing… By the way, compare the two emails, did it sound like it was only going to be a demo thing? you be the judge
Dear Valued Clients,
We hope this email finds you well and that you’ve been enjoying exploring the world of Synthetic Indices with us at Sway Markets! We’re excited to announce yet another thrilling opportunity to elevate your trading experience.
Following the enthusiastic response to our recent introduction of Synthetic Indices, we’re delighted to unveil our monthly demo competition exclusively dedicated to these dynamic trading instruments.
While Synthetic Indices will remain unavailable for live trading, we believe this competition will provide an excellent opportunity for you to hone your skills and compete for exciting prizes.
Here’s what you need to know about our Monthly Demo Competition for Synthetic Indices:
Competition Details:
Duration: Each competition will run for a month, starting on the first day of the month, and ending on the last.
Prizes: Fully withdrawable cash prizes will be awarded to participants who rank in the leaderboard at the end of each competition.
How to Participate: Simply sign up for the month’s competition by creating the demo competition account through your Sway Markets dashboard.
First Competition Starts Next Monday:
Our inaugural Monthly Demo Competition for Synthetic Indices will kick off earlier than usual this coming Monday, 26/02/2024, with the following one starting on 01/03/2024.
Don’t miss out on the chance to showcase your trading prowess and compete with fellow traders for glory and rewards!
As always, our team is here to support you every step of the way. Should you have any questions or need assistance, please don’t hesitate to reach out to us.
Thank you for choosing Sway Markets as your trusted trading partner. We look forward to seeing you at the top of the leaderboard!
Best regards,
Sway Markets
The first email as it came to me
Exciting News: Introducing Synthetic Indices & Demo Competition
Dear Valued Clients,
We’re thrilled to announce the launch of our latest trading opportunity: Synthetic Indices! 
At Sway Markets, we’re constantly striving to provide you with cutting-edge tools and products to enhance your trading experience. With the introduction of Synthetic Indices, we’re taking another step forward in revolutionizing your trading journey.
What exactly are Synthetic Indices, you ask? They’re a dynamic and innovative way to diversify your portfolio and seize trading opportunities across various markets. Unlike traditional assets, Synthetic Indices are not based on any underlying real-world asset. Instead, they’re a randomly generated price feed that follows certain parameters, offering unparalleled flexibility and accessibility.
Why should you get excited about Synthetic Indices?
Instant Access: Say goodbye to market hours limitations. Trade Synthetic Indices 24/7, ensuring you never miss out on potential opportunities.
Low Cost: Enjoy competitive spreads and minimal fees, allowing you to maximize your trading potential.
Risk Management: Utilize advanced risk management tools to safeguard your investments and optimize your trading strategy.
Which symbols are available to trade?
BOOM1000
BOOM500
BOOM300
CRASH1000
CRASH500
CRASH300
Ready to dive in and explore the endless possibilities of Synthetic Indices? Simply visit our dedicated page for more information: Synthetic Indices - Learn More (Synthetic Indices | Sway Help Center)
Our team has put together comprehensive resources to guide you through everything you need to know about Synthetic Indices, from understanding their mechanics to mastering effective trading strategies.
Additionally, we’re excited to announce our Synthetic Indices Demo Competition! 
Put your trading skills to the test and compete with fellow traders for exciting prizes starting next Monday. Find out more information and join the competition here. (Synthetics Demo Competition Information | Sway Help Center)
Don’t hesitate to reach out if you have any questions or require assistance. We’re here to support you every step of the way on your trading journey.
Seize the opportunity today and experience the future of trading with Synthetic Indices at Sway Markets!
Best regards,
Sway Markets
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-If I had to guess, it has to be.
It sounds like they are going to offer an artificial, simulated feed, for imaginary instruments that they fully-control, where traders would trade them on demo accounts for real money. You are literally playing against the house, with unknown odds that are likely fully-rigged in the house’s favor.
Sounds like a full-on casino without the gaming license and oversight etc.; competitions and cash prizes to get you hooked so that you keep coming back. Eventually, they win back all of your winnings and more, playing a game that is fixed.
Anyone that would agree to play a game at a casino, where the casino literally controls the outcome, with no oversight and accountability, where it would be literally impossible to prove if/when they are cheating etc. probably deserves to part ways with what they have, simply as a lesson in commonsense.
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As I understand it, the demo trading competition awards cash prizes to the winners, and there is no entry fee.
https://sway.kb.help/synthetics-demo-competition-information/
Based on the emails I have received, it seems likely that this will eventually lead to live trading, what you guys think?
BTW; I went to log into my sway market account, it’s now telling me my account is INCOMPLETE, I wanted to see what this Synthetic market is all about
My mind seems to be playing tricks on me, but I thought I was verified and had logged into this account several times before.
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-Yes. Just like how casinos offer comps and prizes to keep players coming back and hooked etc… A new program will need willing participants. What better way to attract willing participants than by offering free prizes?
The only way that their simulated market will work, will be if traders are willing to trade it. After all, there is no real money trading hands. The pool of profits will need to come from somewhere, and better for the broker to not have to fund it.
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Boom and Crash are a Deriv product offered a few years ago, they have all sorts of crazy synthetics. Online trading with Deriv | Simple. Flexible. Reliable.
Edit: Banned countries are China, Canada and the USA (of course)
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I never knew such a thing existed
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-Also was not aware. Do you know anything about these products? Are they legit? Sway Markets makes it sound as if they have full control over the feed, whereas the link that you provided, gives the impression that the feed may be based on existing markets.
Trading 24/7 while choosing your volatility level sounds like one of those too good to be true kinds of things. But the basic idea requires that there are sufficient traders that are willing to trade these markets in order to offset the risk for brokers.
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I reached out to Hugo’s Way the other day. Unbelievably, they still only offer deposits/withdrawals in BTC. I asked them why they do not offer a stablecoin and was told that it was because they do not offer it. Can’t argue with that, I guess.
Honestly, how out of touch with your client base can you be? You have to really not care to be that complacent.
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Before the new year, I checked in on my Oanda and forex.cm accounts, I decided to throw some money into forex,com and see how it goes, with all the offshore news.
My conclusion: Before I trade with an American forex broker, I would rather renounce my citizenship and move abroad
Additionally, offshore brokers came at the right time for me because I was not successful when American brokers had high leverage, when I did become successful, the margin rules had changed in America. It would have taken me a lifetime to achieve my goals had I stayed with American brokers
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I never funded my Eagle FX or prosperity accounts for that exact same reason.
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Let’s see how this turns out
Why is the Federal Reserve pushing for stablecoin regulation?
ooks like the Federal Reserve is steering America toward a future where stablecoins are not just acknowledged but also regulated. In his recent meetings with House Democrats, Jerome Powell made it plain that a legal framework for stablecoins is an absolute must if the United States is to effectively traverse these unexplored seas. This position shows a major change in attitude toward digital currencies, which is indicative of the increasing awareness of the possible effects they may have on the conventional financial system.
The Case for Regulatory Frameworks
Financial experts have come to a common understanding, as Powell has pointed out, that without a regulated framework, digital currencies might face problems as they gain popularity. One way to protect one’s wealth from the ever-changing cryptocurrency market is to invest in stablecoins, which are tethered to conventional currencies such as the US dollar. In addition to allowing merchants to make rapid transactions, they also provide a way to store or transfer funds independently of banks and are becoming more integrated into the traditional financial system. But this connection isn’t risk-free.
Good Chance US Will Pass Stablecoin Regulations in 2024: Circle CEO
Long Awaited Stablecoin Regulations
Speaking to CNBC at the World Economic Forum in Davos, Allaire said that global regulation efforts were expanding, and the US is likely to follow.
“I think what you’re seeing is a desire from the administration, a desire from the Treasury, from the [Federal Reserve], by both chambers of Congress, and certainly on a bipartisan basis.”
Other countries are regulating digital dollar stablecoins before the US, he added. Allaure concluded:
https://beincrypto.com/us-pass-stablecoin-regulations-2024-circle-ceo/
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The more USD stable coins and shadow money supply grows, the more irrelevant and ineffective Fed monetary policy will become.
Regulated stable coins will likely mean circle giving the gov full transparency on where all these stable coins are going and coming from.
It’s also possible the fednow CBDC is not going well.
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Agree 100% but you are not seeing what I see
what do you see?
I would avoid anything that pegs to the dollar as an offshore broker. Regulation is good, but we know U.S. regulators will overdo it in the end.
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Nope, I do recall them offered at one time on some leverage traded crypto exchanges. Definitely not something I would pursue.
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