If you’ve come across this review, you’re probably looking for information about SafetyTrades to determine whether the company is a scammer or if you can trust it with your money. I’ll give you a hint – yes, the firm engages in illegal and dubious activities, so it’s better not to risk it. Next, I’ll provide you with arguments so you can see for yourself. However, you can skip to the end to see all the negative factors.
Table of Contents
Highlights
| 🏛️ Country | – |
| ⚠️ Regulation | – |
| 🖥️ Website | https://safetytrades.com/ |
| 🎲 Demo Account | Yes |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | $5,000 |
| ⚖️ Minimum and Maximum Leverage | 1:200 |
| ⚙️ Trading Platform | WebTrader |
| support@safetytrades.com | |
| 📞 Phone | +447488873980 |
First Impression of Safetytrades.com
The company has launched a generic official website, seemingly built from a standard template. SafetyTrades touts client benefits without backing them up with concrete proof. Merely claiming that their trading terms are optimal, their service secure, and their platform swift is insufficient without tangible evidence to support these claims. Here, the company significantly falters.
Featured prominently at the top is a basic navigation bar, offering insights into the platform, pricing, a vague company history devoid of concrete details, and contact information. The content quality is exceptionally poor, with critical information like operational history and licensing conspicuously missing. What credible broker would omit such essential details?
A notable drawback is the website’s monolingual presentation in English, with no other language options available. Additionally, the website appears incomplete. For instance, the “Market Overview” section, which one would expect to contain market analytics or live quotes, is just an empty white page. Is this the hallmark of a quality, reliable resource?
Partnership and Bonuses
Many traders use affiliate programs as an additional source of income that does not depend on trading results. Although SafetyTrades offers a referral program, earning from it is not feasible. The reason is that it operates differently here. Instead of receiving a percentage of the commissions and spreads from their referrals, a user receives a 100% bonus on the deposit amount of the invited client. At the same time, the partner also receives a 100% bonus.
These bonus funds are subject to certain conditions, meaning you cannot simply withdraw them, nor the profits obtained with them. The broker sets strict rules that require clients to first achieve a significant trading turnover before they can withdraw the bonuses. In general, this is a classic tactic of another fraudulent company.
This type of affiliate program indicates that the firm does not earn from commissions paid by traders, but rather from lost deposits. Essentially, you are dealing with a typical 100% B-Book.
Account Opening on Safetytrades.com
The account creation process here is not complicated but does raise some suspicious thoughts. For example, after registration, the system does not send a confirmation letter to your email or phone number, indicating that the company’s security is at a low level.
To register a personal account, a trader just needs to provide some personal information:
- Full name.
- Contacts (email and phone number).
- Country.
- Password.
Then, the personal account opens, which can hardly be described as multifunctional and stylish. On the left is the main menu, and in the center is the main window. SafetyTrades hasn’t come up with anything unique, just using a ready-made template.
What can users do? They can view current balances of both real and demo accounts (hinting at the presence of a demo, but it’s unclear how to open such an account), edit personal information, upload documents for KYC, replenish the deposit, apply for withdrawal of funds, and obtain a referral link.
Verification
The verification procedure takes place in the personal account, but you can also send photos/scans of documents by email. Essentially, SafetyTrades requires a standard package of documents:
- Proof of identity, such as a passport or driver’s license.
- Proof of residence address. This can be a utility bill or bank statement.
- Photo/scan of a bank card with partially obscured numbers and CVV if this method is used for depositing funds.
Based on the description in the personal account and in the user agreement, KYC here is a mandatory procedure. However, I recommend not rushing to upload documents until the broker is verified, because your personal data could fall into the wrong hands.
- The KYC process is described in detail.
- The firm does not disclose the timeframe for processing the documents.
Trading Software
In the list of legal documents, there is a “Special Terms for CFD Trades”, where the MetaTrader 4 platform is mentioned. However, I must warn you that there is no MetaTrader 4 here. Instead, SafetyTrades offers a different platform that doesn’t even provide 10% of the capabilities available in popular terminals. Moreover, this indicates that the broker is clearly misleading users.
The actual terminal has very limited functionality:
- Market and pending orders, including stop-losses and take-profits.
- Technical and graphical analysis.
- Indicators.
- Watchlist.
Such advanced options as the ability to upload custom indicators, connect advisors for auto-trading, or access features like open interest, market depth, and order book, etc., are absent. The platform might suit beginners who are just starting to learn trading, but it is unsuitable for experienced traders.
Additionally, it is worth noting the absence of a mobile version of the terminal. SafetyTrades does not offer links to the official AppStore/Play Market stores. There is also no desktop version. Is it worth continuing to comment on this primitive platform without options and capabilities?
| Features | SafetyTrades | PowerStox | Geetle |
|---|---|---|---|
| Demo Account | ✔️ | ❌ | ❌ |
| Mobile App | ❌ | ✔️ | ✔️ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With The Firm?
It is a CFD broker, so trading is conducted only with this type of financial instrument. Clients have access to forex, metals, indices, commodities, cryptocurrencies, and stocks. The trading conditions directly depend on the selected account type, which is absolutely unsurprising, as this is the favored approach of any brokerage scammer.
All Info About Accounts
SafetyTrades offers seven types of accounts, with the first five named “Just Starting” and the last two “Next Level”. The logic of the tariff plans is simple: “The better the account type, the more favorable the conditions”. However, you will have to pay more money, as the minimum deposit amount increases with the tariff upgrade. The requirements for the minimum deposit are unreasonable. For example, the first tariff starts at $5,000, and the second at $25,000, and so on. Where do such appetites come from? Who is ready to invest such serious sums?
In addition to the high minimum deposit, there are other disadvantages. I had to ask: “What are the sizes of spreads and commissions”? That question shouldn’t need to be asked, but given all the secrecy and opacity of the broker, it’s not surprising.
Leverage is initially absent, and on the last tariffs, it reaches 1:200. Such a leverage indicator clearly signals the lack of regulation. Traders can also open orders starting from 0.01 lot.
SafetyTrades does not appear to be a beneficial broker. Its trading conditions are significantly worse than those of most other companies – hidden spreads and commissions, impractical allocation of leverage, and a high minimum deposit. So there are plenty of negatives.
- Demo.
- The firm requires a very high initial deposit.
- Important terms and conditions are not disclosed.
- Business model with conflict of interest.
Market Analysis and Education
Regarding additional services, there is also nothing to say. SafetyTrades offers nothing. I think beginners would definitely benefit from educational courses and webinars explaining how trading and financial markets work. Fresh market analytics could be useful for experienced traders, but no, such is not offered here. Personal manager, signals, and other additional options are also absent.
The broker does not even provide an economic calendar or financial news. What’s the point of cooperating with a firm where many useful tools are missing? How does the broker plan to compete with other organizations offering a wide range of additional features to their traders?
Deposit, Withdrawal, and Fees
The firm is so secretive that it hasn’t disclosed information regarding methods of transferring money. One can only guess whether there are fees for depositing and withdrawing funds, as well as how long it will take to process withdrawal requests. Although, you might not even need to think about this, as it’s unlikely that withdrawals actually work here.
Looking at the personal account, it can be seen that SafetyTrades supports cryptocurrency and credit cards. There is no mention of bank wire transfers and electronic wallets.
| Features | SafetyTrades | Xeodis | Kane LPI Solutions Limited |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ✔️ | ❌ |
| Crypto Transfers | ✔️ | ❌ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
It is unlikely that you will be able to contact SafetyTrades first. The reason for this is the fake contact information. I checked the email address listed on the website. It turned out to be non-existent. Meanwhile, the phone number is untraceable. It is another drawback that is important to note.
- Not found.
- Fake contacts.
Kevin Berry Seriously, can’t scammers create an email? Why do they expose themselves in such a simple way? Any user can check the email and other contacts for authenticity. A non-existent email does not speak to the seriousness and solidity of a company. So SafetyTrades is very poorly prepared. And yes, one must not forget about the overall secrecy and opacity of the firm, its unreasonable trading conditions, and other shortcomings, to which fake contacts have now been added.
Is The Company Dangerous?
It is unlikely that anyone thinks this is a good option for trading. Next, I need to look into how long the platform has been around, whether it holds any licenses at all, and what its legal address is. Only after that can a conclusion be made.
How Long Does The Broker Work?
It is notable that the company does not mention its founding date on the official website, although any honest brokerage intermediary would do so. However, what a surprise, since SafetyTrades is a fraudulent company, so it’s no wonder that such important information is not provided. However, it is still interesting to find out when the platform was launched.
I will try to use a special service that will show when the domain of the official website was registered, without which no online broker can provide services. So, the domain appeared on December 23, 2023, which is very recent. This is a fresh scam.
How Is It Regulated?
How can you check the license if the company does not even provide its legal address? Apparently, you can’t. In any case, a broker is required to indicate not only its license but also its registration address. However, in this case, neither is observed on the website. Therefore, the activity is illegal, and possibly such a company is not legally registered.
| Features | SafetyTrades | TauraGlobal | PBA Group |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
SafetyTrades rating
2 reviews about SafetyTrades
I advise you not to invest in such pseudo-companies, which have no license, physical offices, and other signs of reliability. They will cheat you and steal your money, this is 100%. There is a fake activity, because such an organization does not exist. It’s just an ordinary scambroker, nothing more.
Can you tell me how I can withdraw funds from safetytrades.com? I submitted a withdrawal request, specifying my USDT cryptocurrency wallet, but nothing else happens. It’s been 3 weeks, but there is still no response from the company and no money has been withdrawn from the account. What is the problem and how to solve it?
Have I fallen for fake and fraud? Can anyone tell me what to do? Or can I forget about my $7,500 forever? I want to believe in the best, but from the looks of it, it’s only going to get worse.