Safe Holdings Review – Bogus SVG Broker High-Tails it and Runs
This St. Vincent and Grenadines based offshore broker has recently been placed on a regulatory blacklist due to their fraudulent actions conducted against citizens of Canada. A short while after, the site was shut down by the fraudsters themselves in an old “take the money and run” scenario.
Our article will focus on the various strategies used on the Safe Holdings website to deceive more people into investing. Keep reading our Safe Holdings review for more information about asset recovery.
Is This Company Safe?
No, do not invest with unlicensed companies!
Have Warnings from:
St Vincent and the Grenadines
Forex, Cryptocurrencies, Shares, Commodities, Indices
Free Demo Account:
How to Withdraw from This Company?
Get your money back with the help of our legal professionals.
What About Safe Holdings Regulation?
Safe Holdings is owned by 123media Ltd from Saint Vincent and the Grenadines. And while it pretends to exist since 2018, its registration number with the FSA shows that the company was established this year.
However, what bothers us the most is that FSA is just a financial register, while regulation should be sought in the country of service. We’ve checked the FCA, ASIC, BaFin, and more but found no trace of Safe Holdings regulation.
It implies that you’re dealing with an unlicensed offshore fraud, and that’s never good for your funds.
Canadian Authorities Uncover the Fraud
With one of the largest hotspots for fraudulent action by these cybercriminals being Canada, the firm has been promoting an idea that they were regulated by the former main regulatory body of this nation, IIROC.
Because of this, and the fact that Canada was the main hotspot for fraudulent activities conducted by these charlatans, the company quickly got into the spotlight of the regional authorities. Currently, it is on the blacklist of the Canadian new self regulatory organization, CIRO.
Safe Holdings Software – Platform Tools
The trading platform we found was WebTrader. Typical of shady offshore brokers like Safe Holdings. WebTrade is basically an oversimplified browser-based platform that lacks advanced tools such as algorithmic trading, branch optimization and API integration.
Those features are found on Meta Trader platforms (4 & 5) while WebTrader offers just some basic charts, calendars and indicators. Given Safe Holding’s lack of a Forex license, trading on this platform is extremely risky. It could be rigged to show fake profits.
Safe Holdings also advertises an exchange platform for trading crypto assets, but without a demo account, we weren’t able to confirm whether this platform is valid.
Available Trading Assets and Markets
The broker offers access to all 5 major markets, including:
- Currency pairs – 25 majors
- Cryptocurrencies – 5 biggest
- Commodities – gold, oil
- Indices – NASDAQ, S&P500
- Shares – Amazon, Facebook
As you can tell, the offer itself doesn’t stand out, especially when you learn that SafeHoldings provides unregulated leverage of up to 1:100. In addition, all of the trades are executed on the Web trader, the least safe platform you can be provided with.
After everything is said, consider twice putting any money into this trading firm.
Fund Withdrawal Issues With Safe Holdings Broker
Since the company has no license, there’s no supervisor for its activities. This means that there’s no obligation for the broker to let clients withdraw their funds, as there’s no penalizing or any fees.
Many brokers think that opening an offshore headquarters and having no proper oversight will save them from lawsuits and being exposed to any sort of punishment. Yet, countries and their regulators have decided to end such fraudulent activities and investigate each and every brokerage.
Currently, we are sure that there is someone who noticed Safe Holdings’ activities and is willing to help clients get reimbursed. If you have had any negative experiences, file a complaint and tell us your story. Contribute to denying brokers access to the market, and let’s prevent it from defrauding more clients.
Areas Of Safe Holdings Scam
According to SafeHoldings’ reviews, most clients who filed a complaint came from the UK, Germany, and Canada. Since offshore brokers are well-known for having no boundaries and no restricted areas, beware of the Safe Holdings trading scam wherever you are.
What Are The Different Safe Holdings Account Types?
Safe Holdings offers seven different account types. Here’s an overview:
- Silver – 10,000 $, leverage up to 1:5;
- Silver + – 25,000 $, leverage up to 1:10, 0 $ indices commission;
- Gold – 50,000 $, leverage up to 1:20, 0 $ indices commission;
- Platinum – 100,000 $, leverage up to 1:50, 0.0 pips raw spreads;
- Diamond – 250,000 $, leverage up to 1:20, 0 $ indices commission;
- Royal Club – 500,000 $, leverage up to 1:50, raw spreads from 0.0 pips;
- VIP Corporate – 1,000,000 $, leverage up to 1:100, raw spreads from 0.0 pips.
The leverage of some accounts exceeds the legal cap of 1:30 (UK, Australia & EU). The minimum deposit prices are outrageously high.
Traders About Safe Holdings Scam
As mentioned, there are many complaints against the Safe Holdings scam. Clients complain about withdrawals, lousy trading platforms with many lags, and severe issues regarding their online safety.
The broker convinces victims to download AnyDesk that allows them access to all the apps, including online banking. Once your account manager gets such access, your funds may disappear from your bank without your authorization.
How Does Online Trading Scam Work?
Some brokers, including Safe Holdings, advertise online trading using Bitcoin ads. Once you submit your details, you will be prompted to make a Bitcoin purchase and deposit in this currency.
However, note that such transactions are unsafe and hard to trace, which is why brokers are making you do it.
Whenever possible, use your debit/credit card for online transactions, as you will have up to 540 days to file a dispute for a chargeback and get your funds back.
Scammed by Safe Holdings? – Tell Us Your Story
If you fall victim to the Safe Holdings scam, let us know. Our team of specialists will assist you in filing a dispute and requesting a chargeback.
Recovery is Difficult, but Possible!
The main problem with these illicit firms is that they usually operate as a Ponzi scheme, meaning that the clients could rarely get their entire investment back. With the website in a defunct state, however, facilitating any Safe Holdings withdrawal by regular means is unfortunately impossible.
This doesn’t mean that the whole case is lost, though. With the help of our legal experts, there is still a way to recover your lost funds! We are available 24/7 for your convenience, book a free consultation through the live chat on our website today!
But What Is A Chargeback?
This is a way for your bank to reverse the transaction and get the funds directly from the merchant in case you have been scammed. Contact us via online chat to let us know what happened and our chargeback experts will guide you on how to find the best solution for your case.
Book a free consultation and take a step towards a refund now!
What Is Safe Holdings?
Safe Holdings is an unlicensed Forex and CFD trading provider.
Is Safe Holdings A Scam Broker?
Yes, Safe Holdings is a fraudulent trading firm without a license to provide financial services.
Is Safe Holdings Regulated?
No, Safe Holdings is not regulated and operates illegally.