Safer Haven FX – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Safer Haven FX - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://saferhavenfx.com
Founded: 2022
Regulations: Unlicensed
Languages: English
Deposit Methods: Cryptocurrencies
Minimum Deposit: $500
Free Demo Account: Not Provided
Number of Assets: Not Specified
Types of Assets: CFDs on Forex, Cryptocurrency, Gold, Indices, US Shares, etc.
Trading Accounts and Conditions
Despite going through their website, we could not find any information on Safer Haven FX’s account types. There is also no clear information about this broker’s trading conditions. All we are told is that spreads are tight. We do not know what the leverages are or any of the other trading conditions are either.
Safer Haven FX – Advantages
There are no advantages to trading with Safer Haven FX.
Safer Haven FX – Disadvantages
Here are all the disadvantages that tell us that Safer Have FX is a scammer:
-
Unregulated and Blacklisted Broker
The first sign of a scam is a broker’s lack of regulation. But how can traders find out if a broker is regulated or not?
Regulated brokers provide all the relevant information about their regulation status on their websites clearly – their company name, their location, their contact details, their company incorporation details, their regulation number and the name of the authority that has regulated them. Once all of this information is provided, it is easy to check the relevant financial regulator’s website to see if that particular broker is listed on their database. If they are, then you know that they are regulated, and therefore operating legally.
With Safer Have FX, most of this information is missing. We do not know the name of the parent company that owns and operates this online forex brokerage. While an address in the UK is provided, the number is not a UK number at. And the email address is for cryptofxwave.com.
This already raises red flags. And then, this broker claims to be regulated by the UK’s financial authority, the Financial Conduct Authority. But the broker does not provide us with any regulation details. We checked the FCA’s database and found out that this claim by Safer Haven FX is a lie. There is not broker by that name listed with the FCA.
In fact, the FCA has actually issued a warning against this broker. The authority states that Safer Haven FX is operating illegally in the UK; that this broker is not authorized by the regulator at all.
All of this information clearly tells us that we are dealing with a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
-
No Legal Documents
Despite checking their website, we could not find any legal documents. The lack of legal documents is another sign of a scam. Legal documents are the contract between the client and the broker. Without this in place, a client can get very easily scammed. These documents specify the services that the broker offers, the terms under which those services are offered, and their policies, fees and so on.
Most of us do not bother to even check for legal documents, simply clicking on the I agree button without really seeing what that contract states. And that is exactly what the scammer relies on. This is why it is imperative to take the time to read through the legal documents before signing up with a new broker. This way, you know what you are getting, and if there is no legal document in place, then you know you are dealing with a scammer.
-
No Trading Platform
Another sign that a broker is a scammer is when there is an issue with their trading platform. A broker has two basic offerings – their trading platform/software and the associated trading conditions. When there are issues with either or both, then you know you are dealing with a scammer.
Regulated brokers provide their customers with the best possible trading platform, such as the MetaTrader 4 or 5 software.
With Safer Haven FX, what we get is nothing. The charts that this broker displays in their client area is nothing but charts imported from TradingView; their so-called trading software doesn’t work at all! A non-working trading platform is a clear indication that you are dealing with a scammer.
-
Issues with Trading Conditions
As we mentioned earlier, a broker’s two offerings are their trading platform and their trading conditions. If there is a broker with these two key products, then you know you cannot trust that broker.
With Safer Haven FX, we found out that they do not even have a working trading platform. Now, added to this is the fact that they do not even have trading conditions in place. The only thing we know is that it will cost a trader $500 to open an account with them. A $500 minimum deposit requirement is too high, especially when excellent – and regulated – brokers allow for account openings at just $10!
The lack of all other trading conditions is another red flag of this broker’s scam.
-
Possible Serial Scammer
We need to highlight the possibility that Safer Have FX may belong to a serial scammer. We say this because the contact information shows the email address of a broker that has already been exposed as a scam. This implies that this broker simply copied and pasted all their information from their previous website and changed the names to show that they are a new brokerage.
-
Issues with Payments
When a broker only offers cryptocurrencies as a payment option, then it is a huge red flag of a scam. This is because crypto payments are all anonymous and permanent. You cannot trace your money and neither can you get it back.
And this is the reason why it would be best to use a safer payment method like credit cards if you are dealing with a broker for the first time. At least there is a chance to file for a chargeback in case you get scammed.
Conclusion
Safer Haven FX is a scam broker and cannot be trusted in any way.
Safer Haven FX
Pros
- None
Cons
- Unregulated and Blacklisted Broker
- No Legal Documents
- No Trading Platform
- Issues with Trading Conditions
- Possible Serial Scammer
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.