Quick Answer — Sway Funded Restricted Countries
Sway Funded restricts traders from 31 confirmed countries as of April 2026. The list includes expected sanctioned states (Iran, North Korea, Russia, Syria) but also surprising entries like Australia, New Zealand, Japan, and Malta. The US is not on the official list, but remains ambiguous in third-party reports. Their Terms state this list is "not limited to" — meaning additional countries may be restricted without public notice.
- 31 confirmed restricted countries
- Includes Australia, NZ, Japan, Malta alongside sanctioned states
- US: not on official list, but verify in Terms before purchasing
- IP must match registered country — VPN use is prohibited
- "Not limited to" clause means list may expand without notice
Legitimacy assessment based on research: I haven't traded Sway Funded personally. This restricted countries analysis draws from their official Terms of Service documentation and community forum reports. Restriction lists can change — always verify directly with Sway Funded before purchasing a challenge if your country’s status is uncertain.
For the full breakdown, read my complete Sway Funded review. For KYC details after you're approved, see the KYC guide. If you're eligible, start a challenge here — code FIRST saves 50%. Country eligibility questions? Check the help center.
Before you buy a Sway Funded challenge, the first thing you need to confirm is whether your country is eligible. It sounds obvious, but restricted country violations can result in account termination with no recourse — including forfeiture of any challenge fee paid. Getting this wrong is an expensive mistake.
As of April 2026, Sway Funded restricts traders from 31 confirmed countries. Some of these are unsurprising — sanctioned states and high-risk financial jurisdictions. Others, like Australia, New Zealand, Japan, and Malta, will catch traders off guard. Here's the full picture.
The Full List of 31 Restricted Countries
As documented in Sway Funded's Terms of Service, the following countries are restricted:
1. Afghanistan
2. Australia
3. Burma (Myanmar)
4. Crimea (region)
5. Cuba
6. Democratic Republic of Congo
7. Ethiopia
8. Haiti
9. Iran
10. Iraq
11. Japan
12. Lebanon
13. Libya
14. Malta
15. New Zealand
16. North Korea
17. Pakistan
18. Republic of Congo
19. Russia
20. Saint Lucia
21. Somalia
22. South Sudan
23. Sudan
24. Syria
25. Trinidad and Tobago
26. Tunisia
27. UAE (United Arab Emirates)
28. Venezuela
29. Vietnam
30. Yemen
31. Zimbabwe
Critical note: Sway Funded's Terms state this list is "not limited to" the 31 countries listed. That means they can restrict additional jurisdictions without updating this public list. If you're in a country not on this list but also not clearly in an eligible region, contact support before purchasing.
Why Australia, New Zealand, and Japan Are Restricted
This is the question I get most from traders who find the list surprising. Australia, New Zealand, and Japan are developed markets with sophisticated financial regulators — they're not sanctioned states. So why are they restricted?
The answer lies in financial services regulations in each country. Australia's ASIC (Australian Securities and Investments Commission), New Zealand's FMA, and Japan's FSA all have strict rules around who can offer financial products and services to their residents. Prop trading firms operating from UAE free zones without local registration cannot legally serve customers in these jurisdictions without risking regulatory action.
This is the same reason many crypto exchanges and financial tech companies restrict Australian, Japanese, and New Zealand residents. It's not a trust judgment on traders from those countries — it's a compliance decision by Sway Funded to avoid operating in tightly regulated markets they're not licensed for.
If you're Australian, New Zealand, or Japanese: Some traders from these countries use firms explicitly licensed or structured to serve their jurisdiction. FTMO has operated with Australian and European traders for years, though their own geographic restrictions should be checked independently.
Malta's Presence on the List
Malta's inclusion is unusual given that Malta is an EU member state. Possible explanations include Malta's specific financial services regulatory framework (Malta Financial Services Authority — MFSA) or compliance requirements related to Sway Funded's payment agent (Corvexia Holding LTD is Cyprus-registered, and there may be regulatory overlap considerations). Malta being on the list alongside the UAE (where Sway Funded is incorporated) suggests their legal team took a cautious approach to several jurisdictions simultaneously.
The UAE Restriction: Sway Funded's Own Home
The UAE being on the restricted list while Sway Funded is incorporated in Dubai Silicon Oasis is the most counterintuitive entry. The likely explanation: the DSO free zone entity may not be licensed to serve retail customers within the UAE's own financial jurisdiction. Free zone entities in Dubai often have restrictions on serving onshore UAE residents specifically, operating externally rather than domestically.
The US Situation: Ambiguous and Important
The United States is not on Sway Funded's official 31-country restricted list. However, several third-party prop trading review sites have mentioned US restrictions. This discrepancy has not been officially clarified by Sway Funded.
My interpretation: either Sway Funded does accept US traders and the third-party reports are inaccurate, or they quietly restrict US traders without updating their public list (which their "not limited to" clause allows). The risk of purchasing a challenge as a US trader without direct confirmation from Sway Funded is real.
If you're US-based: Email or contact Sway Funded support directly and get written confirmation of your eligibility before purchasing. Do not assume the absence of "United States" from the official list constitutes confirmed eligibility.
IP Address Requirements
Sway Funded requires your trading activity to come from an IP address consistent with your registered country. This is standard for prop firms — but it's worth being explicit about.
If you registered your account from one country but then travel to another country and trade from there, you may trigger a flag. Trading from a VPN to obscure your actual location is prohibited and can result in account termination.
This is relevant for:
- Traders who travel frequently
- Digital nomads
- Traders who registered from one country and relocated
The safest approach is consistency: register from your permanent country of residence, trade from your permanent country of residence, and ensure your KYC documents match that location.
What Happens If You're From a Restricted Country
If you purchase a challenge from a restricted country:
1. You may be blocked at the registration stage if Sway Funded's system detects your location.
2. If you pass the evaluation and are flagged at KYC (which requires government ID showing your address), your funded account will be denied.
3. Your challenge fee credit policy still applies in theory, but if you're from a restricted country, there's no path to a funded account to apply it toward.
There's no clear path to recovering funds from a challenge purchased in violation of the geographic restriction policy. The Terms don't promise refunds in these situations. The only reliable approach is to verify eligibility before purchasing.
Alternatives for Restricted Traders
If you're from Australia, New Zealand, Japan, or another restricted country and want a Forex prop firm, your options include:
FTMO — One of the most widely available firms globally, with clear geographic documentation and a long track record. Worth checking their specific country list independently.
The Funded Trader — Another major Forex prop firm with broad geographic coverage. Their restriction list differs from Sway Funded's.
FundingPips — Relatively broad eligibility, worth checking their Terms for your specific country.
For any of these, verify their current Terms directly — geographic restriction lists change, and I can't guarantee any firm's current status for any specific country.
The bottom line: Sway Funded's 31-country restricted list catches a significant number of traders who might not expect to be excluded, particularly from Australia, New Zealand, and Japan. The "not limited to" clause means the list can expand without notice. If your country isn't clearly on the eligible list, contact Sway Funded support directly before spending any money on a challenge. Geographic violations aren't recoverable through their fee credit system, and the loss falls entirely on the trader who didn't verify eligibility first.
FAQ
Q1: What countries are restricted from Sway Funded?
As of April 2026, Sway Funded restricts traders from 31 countries: Afghanistan, Australia, Burma, Crimea, Cuba, DR Congo, Ethiopia, Haiti, Iran, Iraq, Japan, Lebanon, Libya, Malta, New Zealand, North Korea, Pakistan, Republic of Congo, Russia, Saint Lucia, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, Tunisia, UAE, Venezuela, Vietnam, Yemen, and Zimbabwe.
Q2: Why is Australia restricted from Sway Funded?
Australia's ASIC has strict regulations around who can offer financial products to Australian residents. Sway Funded, incorporated in Dubai's DSO free zone without Australian registration, restricts Australian traders to avoid regulatory exposure. This is common among prop firms not licensed by ASIC.
Q3: Is the US restricted from Sway Funded?
The US is not on Sway Funded's official 31-country restricted list. However, some third-party sites report US restrictions. If you're US-based, contact Sway Funded support directly for written confirmation of your eligibility before purchasing a challenge.
Q4: Can I use a VPN to access Sway Funded from a restricted country?
No. Sway Funded requires your IP address to be consistent with your registered country. Using a VPN to circumvent geographic restrictions violates their Terms and can result in account termination without recourse.
Q5: Why is the UAE on Sway Funded's restricted list if they're based there?
Sway Funded is incorporated as an FZCO in Dubai Silicon Oasis, a free zone. Free zone entities in Dubai often have restrictions on serving onshore UAE residents directly. The UAE restriction likely reflects compliance with local onshore financial services regulations.
Q6: Can Sway Funded add more restricted countries without notice?
Yes. Their Terms state the restricted country list is "not limited to" the 31 countries listed, meaning they can restrict additional jurisdictions at any time without updating the public list.
Q7: What happens if I buy a challenge from a restricted country?
Your account may be blocked at registration or denied at KYC. The fee credit policy still technically applies, but with no path to a funded account from a restricted country, there's no mechanism to recover the credit. Geographic restriction violations are not covered by refund policies.
Q8: Why is Japan restricted from Sway Funded?
Japan's FSA (Financial Services Agency) is one of the strictest financial regulators in the world. Prop firms operating without FSA registration typically restrict Japanese residents to avoid regulatory liability.
Q9: Is New Zealand restricted from Sway Funded?
Yes. New Zealand is on Sway Funded's official restricted country list. New Zealand's FMA (Financial Markets Authority) has stringent requirements for firms offering financial services to NZ residents.
Q10: What should I do if my country isn't on the restricted list but isn't clearly eligible?
Contact Sway Funded support directly before purchasing a challenge. Their "not limited to" clause means additional countries may be informally restricted. Get written confirmation of your eligibility — this protects you if there's ever a dispute about your account's validity.
Frequently Asked Questions
What countries are restricted from Sway Funded?
As of April 2026, Sway Funded restricts traders from 31 countries: Afghanistan, Australia, Burma, Crimea, Cuba, DR Congo, Ethiopia, Haiti, Iran, Iraq, Japan, Lebanon, Libya, Malta, New Zealand, North Korea, Pakistan, Republic of Congo, Russia, Saint Lucia, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, Tunisia, UAE, Venezuela, Vietnam, Yemen, and Zimbabwe.
Why is Australia restricted from Sway Funded?
Australia's ASIC has strict regulations around who can offer financial products to Australian residents. Sway Funded, incorporated in Dubai's DSO free zone without Australian registration, restricts Australian traders to avoid regulatory exposure.
Is the US restricted from Sway Funded?
The US is not on Sway Funded's official 31-country restricted list. However, some third-party sites report US restrictions. If you're US-based, contact Sway Funded support directly for written confirmation before purchasing a challenge.
Can I use a VPN to access Sway Funded from a restricted country?
No. Sway Funded requires your IP address to be consistent with your registered country. Using a VPN to circumvent geographic restrictions violates their Terms and can result in account termination without recourse.
Why is the UAE on Sway Funded's restricted list if they're based there?
Sway Funded is incorporated as an FZCO in Dubai Silicon Oasis, a free zone. Free zone entities in Dubai often have restrictions on serving onshore UAE residents directly. The UAE restriction likely reflects compliance with local onshore financial services regulations.
Can Sway Funded add more restricted countries without notice?
Yes. Their Terms state the restricted country list is 'not limited to' the 31 countries listed, meaning they can restrict additional jurisdictions at any time without updating the public list.
What happens if I buy a challenge from a restricted country?
Your account may be blocked at registration or denied at KYC. The fee credit policy technically applies, but with no path to a funded account from a restricted country, there's no mechanism to recover the credit.
Why is Japan restricted from Sway Funded?
Japan's FSA (Financial Services Agency) is one of the strictest financial regulators in the world. Prop firms operating without FSA registration typically restrict Japanese residents to avoid regulatory liability.
Is New Zealand restricted from Sway Funded?
Yes. New Zealand is on Sway Funded's official restricted country list, due to New Zealand's FMA having stringent requirements for firms offering financial services to NZ residents.
What should I do if my country isn't on the restricted list but isn't clearly eligible?
Contact Sway Funded support directly before purchasing a challenge. Their 'not limited to' clause means additional countries may be informally restricted. Get written confirmation of your eligibility to protect yourself in any future dispute.
