Sapphire Markets Review – Broker Appears Legit But It Is Not

 The first sign this brokerage is not legit is their offshore headquarters. In addition to that, Sapphire Markets scam broker was trying to mislead traders with its highly trusted MT5 platform. Thus, this detailed review will show you that such platforms can’t make a company legitimate.

After all, if you learn all the Sapphire Markets warning signs you will know how to recognize scams from a mile away. But for advice, on how to recover the funds from such frauds, keep reading this unbiased Sapphire Markets review.

What About Sapphire Markets Regulation?

Sapphire Markets is an anonymous brand based in Saint Vincent and the Grenadines. We have no official owner, while SVG has no official regulator. There’s an FSA that registers financial companies and directs them to opt for the regulation in the country of service. However, SapphireMarkets hasn’t bothered to register itself, which is why we have no company behind the charade.

We would advise you to be cautious as we cannot talk about the broker’s legitimacy or legality after everything is said.

In addition to the above, we strongly advise you not to invest in LeumInvest, AClassBank and RichFielder fraudulent brokers.

Regulatory Warnings Against Sapphire Markets Scam

For almost two years the company was operating without any regulatory oversight. This resulted in many traders becoming a victim of Sapphire Markets fraud. Yet, after many reports to the authorities, finally, the warnings came out. Primarily from the most rigorous institution in Europe, the FCA.

Consequently, their move was followed by Spanish IOSCO. Now all European traders who didn’t invest with this firm can sleep tight. Yet, the ones who trusted this firm, have to find a way to get their funds back. Obviously, none of the funds’ protection features with this scam firm won’t work.

Traders About Sapphire Markets Fraud

Another way to discover investment scams is through reviews. Quite often, you will see fraudsters removing negative reviews and pilling up fake positive reviews. This is the case as well with Sapphire Markets. Still, with almost 30% of negative comments out of 24 on Trustpilot, you can realize the truth.

The company is holding traders’ funds without permission and they keep making up excuses for it. Some standard tricks like verification problems and non-existent taxes are the most common ones. If you also experience any of these, contact our chargeback specialists immediately for consultation on the next step.

Fund Withdrawal Issues With Sapphire Markets Broker

Unregulated offshore brokers often believe that they have no obligations towards clients. Since they’re hard to track, and SapphireMarkets ensured its anonymity by allowing only crypto transactions, they believe that they can just decline the request if a client asks for money back.

Moreover, we’ve learned that the company is freezing clients’ accounts so they cannot get their funds back no matter how hard they try and how much they are persistent. If you experience something similar, make sure to file a Sapphire Markets complaint.

Pay Extra Money Before Withdrawal

One of the issues reported in SapphireMarkets reviews is that the broker asks clients to pay additional fees to get their funds back. The employees go that far to claim that the company doesn’t stand good financially and they cannot pay off all the bonuses they’ve been giving, so now clients have to pay it all off before getting money back.

Don’t fall for the scheme because you will not see a penny back, no matter how much you pay under the name of fees and bonuses.

Areas Of SapphireMarkets Scam

It seems that the broker is mainly present in the USA, the UK, and Australia. However, knowing that offshore brokers have no limits, we are aware that wherever you live, you may become the next Sapphire Markets victim. Take care of your funds and decline any offers coming from this fraudulent trading firm.

Traders About Sapphire Markets Scam

As we’ve presented all the bad sides of Sapphire Markets, we were not surprised to see that traders all across the world share our opinion. Most of the issues clients are having with withdrawals, but besides, they complain about the behavior of their account managers who are pushing them to invest more funds without seeing any results and declining to process withdrawal requests under numerous excuses.

How Does Online Trading Scam Work?

Online trading scams start with an advert showing Bitcoin profit, exponential growth over the year, and how much you would make if you started back then. At least that’s what Sapphire Markets shows you. What they don’t say is that none of their customers actually made this money since they were prompted to invest more and more, but withdrawals were never an option.

Going into any business with a scam company can end up only one way – you lose your money and are without options to get it back.

Also remember the names of the 4x trade, FX Quote 247 and STX Brokers trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Scammed by Sapphire Markets? – Tell Us Your Story

If you were scammed by Sapphire Markets, all you need is a refund solution. Our experts may help you file a dispute and request a chargeback directly from your bank.

But What Is A Chargeback?

This is a way for your bank to reverse the fraudulent transaction and get your money back. However, you do need to provide sufficient evidence for the process to start. To get additional assistance, contact us via online chat to book a free consultation with our chargeback specialist.