Beware! Clearsave is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Clearsave says to be a leading provider of online trading services, offering traders a world- class trading experience with over 250 instruments, including forex pairs and CFDs on spot metals, stocks, futures, spot indices and commodities, all of which on the industry standard MetaTrader4 platform.

This may sound as a fine offer, was it not for the fact that Clearsave is a unregulated, offshore broker with virtually no credibility.

Clearsave regulation & safety of funds

Clearsave is an offshore broker, owned and operated by the St Vincent and the Grenadines based Lagoon Technologies Ltd. Apart from the offshore registration, which makes Clearsave rather anonymous, the bigger problem is that the broker is not regulated, as it should be, which basically means that their credibility borders zero.

Unlike brokers, which have legit licenses to operate in Europe, the UK or Australia, unregulated brokers are completely unaccountable fore the way they handle their clients money, and more often than not are simply involved in scam.

Brokers, licensed by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC) on the other hand are reliable trading partners as they duly abide by strict rules and are subject to a strict regulatory control.

What is more, with brokers, regulated in the UK you will get the additional protection of a special client compensation fund, which basically insures your trading account for up to 85 000 GBP.

Clearsave deposit/withdrawal methods and fees

Clearsave says to accept VISA and MasterCard, bank wire, crypto coins and a couple of e- wallets including EntroPay and PostePay. Unfortunately we were not able to verify this, so here our best advise is to stick with the more conventional payment methods like VISA and MasterCard, if they are truly offered. The reason is that with major cards like VISA and MasterCard you will be able to file for a charge back in case you realize you are a victim of a scam.

Payment methods are not our biggest worry with Clearsave though. Our problem is that they say to offer a Savings Account, which according to their presentation comes with fixed, guaranteed returns – in one section of the presentation they quote monthly returns of up 45%, while in another returns of between 5% and 25%. See for yourself:

No matter what the promised percent is, the problem is that these are basically managed accounts, as is the Clearsave Auto Trade Account:

Irrespective of whether you are told that your trades will be managed by a special trading software, as is the case with the Auto Trade Account, or if they will be managed by your account managers – this is a clear indication that we are dealing with scammers.

Clearsave, as virtually all forex and CFD brokers, are market market makers, which means that they make money whenever their clients lose. So it is more than obvious that if you let Clearsave to manage your trading account, they will have the incentive to mismanage it in order to lose your money for their own profit. This is an example of a conflict of interest.

Also, it is highly misleading if a broker says your profits are guaranteed. Trading leveraged instruments involves a high degree of risk – actually, the percent of traders who lose money even with perfectly legit and regulated brokers is between 75% and 85% on average. The exact figure is published by every broker in the EU and the UK.

Furthermore you should be aware that Clearsave offers trading bonuses, which is yet another worrisome sign. The problem with all trading bonuses is that they come with additional withdraw conditions – in this case Clearsave requires you to trade the bonus amount divided by 2 in lots before you will be allowed to withdraw anything from your account. Take a look:

And take a look as well that Clearsave reserves the right to change their bonus policy on their sole discretion, without a prior notice, which kind of explains why you may never be able to reach the above mentioned minimum trade volume requirement, which is quite a serious task even as it is. If you receive 200 USD as a bonus, you will have to trade no less than 10 000 000 USD in order to get a clearance to withdraw.

And we should not forget the fixed 30 USD commission Clearsave charges with every withdraw request – basically, you will be penalized with 30 USD even if your withdraw request is canceled. Bear in mind as well that trading bonuses are one of the favorite tools, used by scammers, when it comes to finding a pretext to refuse a withdraw.

How does the scam work?

Social media like Facebook and Instagram and the Internet as a whole are full of questionable ads, promising investment opportunities with guaranteed returns. And if you click on one of those ads, you will visit one of the so called robo scam websites like Crypto Engine and Crypto Master Bot where you will be invited to join some innovative trading platform, where some special trading software is supposed to generate you fantastic returns, while you seat back and watch your balance grow.

And if you do register, filling the simple registration form with your e-mail and phone, in a second you will be redirected to the website of a unregulated, offshore broker like Clearsave, where you will be asked to deposit about 250 USD. Next, either you will be offered the service of a professional account manager, who will be supposed to take care of your trades – we already discussed why managed accounts are a clear indication of a scam – or you will be left to trade by yourself and your trading results will be spectacular. That however will not be real as your trading account will surely be manipulated – scammers can do that easily – with the sole intention that latter you will deposit more. And you will be receiving daily calls by your account manager, who will be trying to persuade you to do exactly this – to deposit as much as you can.

Finally, when you attempt to make a withdraw out of the blue you will be explained that you are not eligible to do so, because of your welcome bonus minimum deposit requirement. There could be other excuses as well but the bottom line is that you will not be allowed to withdraw a single dollar.

What to do if scammed?

Your best chance to recover your stolen funds is to file for a charge back with your credit card provider, meaning your local bank, in case you have paid with VISA or MasterCard. In both cases you will be able to request a charge back within 540 days.

And if for any reason you have told scammers your credit card number, card security code or online banking password, or if you have been mislead to install a remote desktop application like Team Viewer or Any Desk, immediately cancel your credit card, delete the application and change your online banking password.

Finally, be aware of the so called recovery agencies as well. You will simply be asked to pay some fees in advance and that will be all. You will not get any service.

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  1. I was deceived into investing with clearsave. I deposited the minimum $250 by debit card. I then realised it was a scam.I requested to withdraw my funds.I was then asked to download AnyDesk software which I did. I gave the scammer the access code but then he told me to log into digital banking.I refused and the scammer got very angry.I immediately contacted my bank who cancelled my card.I am filing for a chargeback.

    Do NOT invest with clearsave. They are criminals and you will be scammed like I was

    1. Yes they are scam.

    2. Cheater !! after I transferred 250 euros, I was contacted by an alleged
      Broker who wanted to explain to me how to open and close positions. At first he was friendly and nice, but after I refused to invest more money he got rude, rude and even insulted me on the phone. A few days later, clearsave positions were opened and closed within hours with a loss of 800 euros.
      I’m trying to get my money back now ..
      DO NOT invest with Clearsave. They are criminals.
      Betrüger!! nachdem ich 250 Euro überwiesen, habe wurde ich kontaktiert von einem angeblichen
      Broker, der mir erklären wollte, wie ich Positionen öffnen und schließen kann. Am Anfang war er freundlich und nett, aber nachdem ich abgelehnt habe mehr Geld zu investieren wurde er unverschämt, unhöflich und hat mich sogar am Telefon beleidigt. Ein paar Tage später wurden seitens Clearsave Positionen geöffnet und innerhalb Stunden mit 800 Euro Verlust abgeschlossen.
      Ich versuche jetzt mein Geld zurückzubuchen..
      Investieren NICHT bei Clearsave. Es sind Kriminelle.

      1. They called me because I came across Amazon thing online. When I told them I don’t have online debit card he got angry and started giving me I told him I will have to get gift card to pay and he is like okay I will call tomorrow. Thank you so much for your feedback..I m not going to be scammed

    3. Exactly the same happened to me. They are criminals. Sorry to hear your experience too

      1. Yes definitely scalers. Need to be stopped trading

        1. I have been scammed as well. I deposited 250 euros. Quit a while later a Kimberly Ross phoned me to tell me my account balance was 4000 euros so I told her I wanted a wtthdrawal of 2000 and reinvest 2000 that was the last I heard from her needlesss to say neither was done and on checking my balance it was down to 1524 euros.I asked for this to be withdrawn middle of December but nothing has happened as yet. I keep emailing them but get no relplies. There was another guy who contacted me the once,but I’ve never heard back from him or Kimberly Ross.I have requested my initial deposit back but again there is no response from anybody .As a last resort I have asked my credit card company to get my deposit back. Chris Wright

    4. thank you so much for this as I was going to invest more money with them, I am finding the correspondence also ridiculous for any company , pushy or completely unable to contact them.

    5. Same situation for me.
      Scammer company
      Just don’t know how to get money back

    6. I just got scammed! They were supposed to be depositing money into my account and instead they cleared out my account and then asked me to give them access to other accounts as they said that they had accidentally taken money out instead of depositing money into my account and now need another account to put the money back. They called me from London phone numbers and showed me my Clearsave account but when I did not give them another account number the man told me that I was lying about not having another account and asked if my boyfriend would give him access to his account. They got really nasty and are dangerous. I can still see my Clearsave account but I have no way of getting access to anything. Like Paul, I also started with an initial $250 deposit that seemed to grow very quickly. Then they asked me to invest a £1000 in crypto currency and I did and that is where it all went wrong. I seemed to have made £1000 within days and I asked to withdraw my initial investment. That is when they cleared my account and have left me overdrawn by over £2000. I AM DEVASTATED. PLEASE BE AWARE.

      1. Hi Fauzia, sorry to hear about this. How did they get access to your account.

      2. I have just been scammed by the same system. I thought I had some the right kind of checking, and it seemed so legit. I have lost nearly £2000 and I am gutted. I dare not tell anyone, because I will feel even worse for the disappointment and disapproval I will be subjected to. Shame on them. This was from a bit ad campaign which promised to general a goodly amount from a reasonable deposit. I am going off for a cry now. Hope everything else goes well with you. We live and learn I suppose. Although, it seems I do not learn.

    7. Hello, how do I make a refund on my bank?
      Hola cómo ago una devolución d cargo en mi banco

      1. Ami también m estafo lion stock alguien q m de orientación q puedo aser

    8. Very true ,well done for not allowing them to trick you more.

    9. Hello how do I apply for a chargeback.

  2. To qualify for a refund, you will have to register an account with and need to deposit money into jubiter to change bitcoin into cash to be withdrawn. Does this sound familiar to anyone at all?

    1. i am asking to do so, have you gotten your money back? I was asking to register the an account with and need to deposit into Payeer to change bitcoin into cash to be withdrawn.

      Please email me

  3. clearsave are scam they don’t have direct number you can call their office on, the number they are using in the UK are coded is not UK number. They just scamed me of £6,200 no one to call or report to they are all scam working together. Both men and Women don’t be deceived. There platform are fake. There contact number is 0000000000. All this i did not see before joining there fake trading. Please don’t sign up with clearsave they are fake trading company.

  4. tak,ja straciłem 9000 funtów,byłem idiotą
    yes i lost 9,000 pounds i was an idiot

    1. This is a very genius scammers! i almost got it scammed but i will have to contact my bank to get that deposit i paid to them! its really bad how they trick you into things this company should be reported!

  5. i have invested £7800 and cant get this back

  6. Jarosław Marek Wolski

    Hi guys. Don’t invest any money. I lost 20.000 £ . It is scam and crmi. I don’t want to be happen to you ☹

    1. Mohammed amin Hussain

      Hi marek wolski. What do u do that u invested £20000 with this company.

    2. Yes I also have been scammed, did you ever get your money back?

  7. I was told I needed to top my account up by £500, clearsave tried to take £2500 off me to start with, that was declined, he then made 4 attempts of £500 to which 3 worked and the 4th declined,
    I tried to stop him after the first £500, but he was quick and took 2 more, I’m down by £1500 plus my original investment, after he couldn’t steal no more payments, he put the phone down and never rang back and all the numbers he rang from DON’T exist.
    He was a Indian who called himself David Simmons
    Stay well away from this company, there nothing but thieves.

  8. DO NOT! I REPEAT DO NOT INVEST WITH CLEARSAVE. THEY ARE VERY RUDE AND IMPATIENT AND WILL RAISE THEY VOICE ON YOU IF YOU DECIDE TO CLOSE YOUR ACCOUNT. BUT TRUST ME, THEY’RE ACTUALLY NOT LEGIT. They hang up the call on me and started being defensive when I started calling them a scam. And when I said I wanted a refund, he said “I don’t care about your money of 250 euro because right now Bitcoin in better in the market” and said to wait for next week for it and the one who called me was such a liar and whenever you call him a liar or a scam he will start being defensive and will raise his voice and even said to me “you’re wasting my precious time, when you close the account we don’t care about you anymore”.

  9. Hi,
    Paid $250 £190 this morning, invoice emailed to me with a completely wrong name a Don Harrison. Tommorow I have an advisor ringing me back to get me up and running checking documents passport, utility bill etc.
    After reading everyone’s reviews I will not go ahead. Hope I can get my £190 back.
    Thanks for everyones reviews. This could have been a lot worse and lost everything
    Kind regards

    1. Did you manage to get your deposit back?


      1. I am asking this also .

  10. Hi i was conned into the scam too, i answered to an ad that looked legit, with screaming teenagers happy to see six figure number on their mobile phones. Admittedly i was gullable as i thought that it was real plus their was a promise that trading would be done for me so i thought let me give it a go. Stupidly i fell for the trick, i sent my ID documents and invested about £186.00 but what was more concerning was that my mentor talked me into giving him remote access to my computer and my personal files which really should have been a NO NO. Once i was set up and all ready to go my gut feeling was telling me something wasnt right about this company and i had a strong sense not to continue on, so I shut the account down. Fllowing these actions I tried to withdraw my funds from the wallet but the system would not allow me to do so, i sent several emails requesting a refund but so the called team would not respond. All i can say is safeguard yourself and your money from these people as they are unscrupulous and they do not care about you, duping you or how loosing your money is going to make you feel. Look after yourself.

  11. Apparently I have a huge amount in US Dollars but can’t withdraw unless I have a certain amount in my bank. Why? So they can take that as well? Mirror amounts is not a legal thing. How do I claim my money back then…

  12. I invested £190 in November 2019… today I’ve been told that it’s worth £ 9600 … but they’ve closed the account and handed it to a withdrawal agent.??
    I’ve tried to access the account… no luck there.. so what does one do in this situation?

    1. Wow, they have this scam down patt, reading all the comments its a dommino effect, apparently I have £15000 in account waiting for me to get out but I gotta put 7500 iin to get it out..
      So convincing. Apparently your got 24 hours to do transaction, when I said no dont worry about it, she got time extended. Glad I done some investigation.

  13. Opened account in March , my verification process was confirmed same month. Made a deposit and also made withdrawals for some crypto. Recently, transferred my crypto somewhere else. A small amount still with clearsave Suddenly, received a request to provide them with a selfie. All letters for a reference to the legislation or procedure clarification have been ignored. Customer service non-existent!!! My friends never received similar requests but are trying to start withdrawing their funds soon, to no avail, Fastasset recovery.ORg finally help us out.

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