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SafeMarkets Review: A Scam Broker with High Spreads

SafeMarkets Review: A Scam Broker with High Spreads

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SafeMarkets is a cryptocurrency and Forex investment platform that is not safe. The company is another pyramid scheme in the market that wants to scam investors. The shady firm was launched in October 2017.

The company behind SafeMarkets operation is AlmaMarkets Ltd. There is no information regarding who they are, and we take that it is just a name that they have put up to gain credibility.

We do not recommend any investor to venture into this platform. We highly suspect that this is a fraudulent company that is only after your money. They have four investment plans that it entices traders with.

SafeMarkets does not have any limit on their standard account you can cash in as little as you can afford. The least amount of money that you can deposit is $10,000 in their gold plan. Platinum account requires $25,000 while Diamond is $50,000.

You should not trust the unregulated platform with this kind of money. The leverage that they guarantee investors for all their accounts is 1:400. What raises questions is the high spread of 3 pips that SafeMarkets offers. Reputable Forex trading companies in the market offer reasonable returns.

SafeMarkets Review

The company claim that they offer CFD, Indices, Commodities, Futures, and BTC trading to their clients. They do not provide the accessible MT4 interface, live support, mobile apps, or social media pages.

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SafeMarkets prohibits users from using automatic trading software in their platform. You can only use the official software that they provide. If you are on the hunt for the best Forex brokerage platform or crypto trading, you might come across SafeMarkets.

SafeMarkets Review, SafeMarkets Scam Platform

Unfortunately, if you are not keen enough, you might lose much money to these fraudsters. Trusting SafeMarkets with your money will be a reckless decision. There are better Forex trading companies as well as crypto trading bots that will help you yield better results.

The company is offering a wide range of digital currency as a Forex pair. Sadly, there is no evidence that they are performing any trading activities. The platform has been in the market for over a year, and they haven’t published their achievement.

Furthermore, there is no data regarding their performance. Everything about them does not add up. SafeMarkets does not have a demo account; hence you cannot familiarize yourself with their services or platform.

Contact Detail

SafeMarkets is allegedly located at 47 Churchfield Road. London, United Kingdom, W3 6AY. As we all know, pyramid schemes tend to display random addresses for them to look transparent while, in reality, they are operating discreetly.

It would help if you were very careful when you are dealing with a company that you cannot verify their actual location. The platform customer support can be reached via telephone; 020386688092 or on email at; supportsafemarkets.com. The support of SafeMarkets is only excellent when they want you to deposit more funds.

They become unresponsive when you want to cash out, or when you reach out to them due to their failed system. Choose an investment company that has better customer support service, and one that you can reach around the clock.

Regulation

The company is a Ponzi scheme which various regulatory bodies have issued a warning against. They are running their operations without a license in the UK. Hence. Financial Conduct Authority (FCA), which is a financial watchdog, issued a warning against them.

It is risky engaging with a platform that is already blacklisted. SafeMarkets is not registered nor regulated; this is an illegal entity that you should keep off at all costs. They will go against the law willingly, as they are not being monitored by any regulatory body.

The easiest way to lose your money is by trusting these scammers. They do not avail of any banking information, which is a huge red flag. You will be empty your pockets right into the fraudsters’ bank account.

Withdrawal and Deposit

Making a withdrawal in SafeMarkets is a nightmare. Many investors are complaining, which is a clear indication that this is a pyramid scheme. The company is making it difficult for their clients to cash out.

They do not want investors to withdraw their funds. The requirements that the company has are bogus and have numerous loopholes. The firm requires you to make a certain number of trades, and have a high amount of money in your account.

Investors should not face such restrictions, and this only proves our suspicion that this is not the best investment platform in the market. Take your time and only choose the best company that will not compromise your earnings.

The fact that SafeMarkets lacks a trading history raises more questions. There is also no information regarding their founders. The above data should be availed, and everyone should see it. The amount of money that the company requires from investors is vast, and it not worth it giving anonymous people such funds.

Clients Complaints

SafeMarkets is a company that had an excellent reputation in the beginning. The majority of investors came to their defense that they were giving good returns. However, this is the norm of all Ponzi schemes at; first, they will pay out their customers to gain their trust.

Currently, there are multiple complaints from investors who have lost money to these fraudsters. They will keep asking you for money for them to handle your withdrawal, but if you agree, you will only lose more.

With all the negative reviews that they have received, proceeding with them would be a foolish decision. There is nothing legit about SafeMarkets. Be careful for they will use your money for their gain.

Is SafeMarkets Legit or a Scam?

SafeMarkets is a notorious pyramid scheme that will exit the market once there is no more revenue coming their way. There are no investment services taking place in the company. These fraudsters are using the deposits of new clients to pay out the withdrawal requests.

The company is no longer paying its clients. They have outrageous requirements that raise questions regarding their legitimacy. The FCA has already blacklisted the shady firm, and this is enough red flag to keep off.

They do not have an MT4 platform; a web-based company is not many traders’ cup of tea. The high spread that SafeMarkets offer is another indicator that they are a pyramid scheme. Moreover, the complaints that investors have issued is a sign that they will only leave you high and dry.

They do not have regulatory documents, yet they collect funds from investors all over the world. The company has shocking withdrawal requirements that are hard for their clients to meet. The company can change their term of services to suit their greedy needs without minding investors.

With all these red flags proceeding or trusting, these scammers would be the biggest mistake of all times. There is nothing good that can come out of a Ponzi scheme. You have to keep that in mind.

Final Verdict

SafeMarkets is not a legit platform; it is operating against the law. The business model of the platform is not known, making them a highly risky venture. Trade with a Forex brokerage that you can trust with your money. The pyramid scheme will eventually exit the market without your knowledge.

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