Sway Markets, a contract for difference (CFD) broker, announced last week that it is suspending its operations. The company, which has been online since 2021, has “cleaned” all its social media accounts, its website is inaccessible, and its X (formerly Twitter) profile displays “sold.”

However, the operations of Sway Funded, a prop trading firm launched less than a year ago under the company’s ownership, remain unaffected. Sway Markets has reportedly been acquired by Liquid Brokers, a new brand operating under the Pulse Markets Pty Ltd license.

Sway Markets Suspends Operations While Prop Firm Continues

The news of Sway Markets’ market exit emerged on February 7. While it wasn’t the most recognizable brand, it has been operating the prop brand Sway Funded since March 2024, which has made several acquisitions of other proprietary trading businesses in recent months.

The acquisition list includes Karma Prop Trader, My Flash Funding, and ETF Funding, which were struggling with various issues, primarily liquidity-related.

The official Sway Markets website is currently unresponsive, and all current posts have been removed from the broker’s X account, with “sold” added to its name.

The Trusted Prop reports that Sway Market clients were supposed to be transferred to the newly launched broker, Liquid Brokers. However, additional information about the company is scarce. According to its official website, Liquid Brokers is not a product issuer of over-the-counter (OTC) derivatives and provides services exclusively to wholesale clients. The company is licensed to carry on a financial services business in Australia as a representative of Pule Markets Pty Ltd, which holds the AFSL license (220383).

Sway Funded’s Acquisition History

Sway Funded has been performing relatively well in the prop trading market, despite its parent broker’s suspension. In August 2024, Finance Magnates reported that the company acquired its struggling competitor, Karma Prop Traders, taking over its clients and their active challenges.

“I just got a mail from sway that Karma is acquired by Sway Funded,” wrote a Discord user with the pseudonym Bunny on Sway Funded’s server.

In July, the company reached an agreement with MyFlashFunding, which had been experiencing platform issues. All MyFlashFunding clients were transferred to Sway Funded, though the brand continued as an educational hub.

The industry made headlines again at the beginning of this month when FTMO, one of Europe’s largest players in the prop trading sector, announced its acquisition of OANDA, one of the longest-operating brokers in the FX/CFD sector.

This article was written by Damian Chmiel at www.financemagnates.com.Retail FXRead More

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