NOTE: SAFETRADEs official site - https://safetradez.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is SAFETRADE？
SAFETRADE, registered in Serbia, is an online brokerage firm that provides trading services to clients interested in the financial markets. SAFETRADE claims to support over 360 trading instruments based on the MetaTrader 4 trading platform. However, SAFETRADE is not regulated by any financial authority. Additionally, the company's website is currently not functional.
Pros & Cons
Pros
Wide Variety of Instruments: SAFETRADE offers a large selection of tradable instruments (over 360+). This allows you to diversify your portfolio.
Popular Trading Platform: They offer MetaTrader4 (MT4), a well-established and user-friendly platform used by many traders.
Multiple Account Options: Having a choice of five account types allows you to potentially find one that suits your trading style and experience level.
Demo Account: The availability of a demo account lets you practice trading with virtual funds before risking real money.
Cons
Unregulated Broker: This is the biggest red flag. Without regulatory oversight, there's less protection for your funds in case of issues with the company.
Non-Functional Website: The fact that their official website is currently not working indicates drawbacks in transparency and professionalism.
Is SAFETRADE Safe or Scam？
SAFETRADE presents a higher level of risk as it is not regulated by a reputable financial authority. This lack of regulation means there are fewer safeguards in place to protect your funds. Additionally, the non-functional official website is a concerning sign, suggesting potential issues with transparency and legality.
Market Instruments
SAFETRADE claims to provide access to over 360 trading instruments in financial markets. However, the broker does not disclose specific details about the tradable asset classes, which makes it challenging to assess the full range of investment opportunities available through the platform.
Account Types
SAFETRADE offers five distinct live trading accounts tailored to different levels of traders, each with its own minimum initial deposit and welcome bonus.
The Mini account, requiring a minimum deposit of $250, is aimed at new or smaller traders looking to start with a lower investment. It offers a 50% welcome bonus, providing additional funds to trade with.
The Silver account requires a minimum deposit of $3,001, with a more substantial 100% welcome bonus. This account appeals to traders with some experience who are looking to increase their trading volume.
The Gold account, requiring a deposit of $10,001, offers a 120% welcome bonus, attracting traders with a more significant investment capacity and trading volume.
For more experienced or higher-volume traders, SAFETRADE offers the Platinum and VIP accounts. The Platinum account requires a minimum deposit of $50,001 and offers a 120% welcome bonus, while the VIP account, with a minimum deposit of $100,001, offers the highest welcome bonus of 150%.
Spreads & Commissions
SAFETRADE claims to offer its clients competitive spreads as low as 0.1 pips, which is a competitive offering in the brokerage industry. However, the information about commissions is unavailable.
Trading Platforms
SAFETRADE provides traders with three options for trading platforms: MetaTrader 4, Mobile Trader, and Webtrader.
MetaTrader 4 stands out as one of the most successful and efficient forex trading software, renowned for its intuitive interface, advanced charting and analysis tools, and features like copy and auto-trade options. It offers a seamless trading experience with its user-friendly design.
For traders on the go, Mobile Trader offers the flexibility to trade from anywhere and at any time using compatible mobile devices.
Webtrader provides traders with a web-based platform accessible directly through a web browser. This option offers convenience and accessibility without the need for software installation.
Deposits & Withdrawals
SAFETRADE accepts deposits and withdrawals using credit/debit cards such as Visa and MasterCard, as well as Bank Wire Transfer. Deposits made via Bank Wire Transfer typically take 2-7 business days to process, while withdrawals require 5-10 business days to process.
Fees & Bonuses
The broker provides free auto-trading software. However, it will impose an inactivity fee of $100 for those accounts that remain inactive for 30 days. Additionally, there is a $100 fee if you want to close your account or withdraw any funds before trading at least 20 trades with the software.
On the other hand, SAFETRADE provides bonuses. However, if you want to access the bonus, you will have to reach a turnover of the bonus amount divided by 4.
Customer Service
The customer support can be reached by telephone at +442045428166, or by email at support@safetradez.com. You can also mail or go to the Company address: 30 Kneza Mihaila Blvd, Belgrade, 11000.
Conclusion
SAFETRADE offers a variety of features, but the lack of regulation by a reputable financial authority is a major red flag. This means your money is at greater risk. With a non-functional website and other uncertainties, SAFETRADE is a risky choice. It's best to prioritize safety and choose a well-regulated broker.
Frequently Asked Questions (FAQs)
Q: Is SAFETRADE regulated？
A: No, SAFETRADE is not regulated by any financial authority.
Q: What trading platforms does SAFETRADE offer？
A: SAFETRADE offers the MetaTrader 4 platform, as well as Mobile Trader and Webtrader options.
Q: What is the minimum deposit required to open an account with SAFETRADE？
A: The minimum initial deposit requirement for SAFETRADE is $250 for the Mini account.
Q: Does SAFETRADE offer a demo account？
A: Yes, SAFETRADE offers a demo account for practice trading.
Q: What are the spreads offered by SAFETRADE？
A: SAFETRADE claims to offer spreads starting from 0.1 pips.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
