Beware! Safe-Holdings.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Safe-Holdings.com is not at all what it says to be. The amount of deception this broker is utilizing is overwhelming. Once users clearly see the discrepancy between the company’s claims and the actual trading and payment conditions, then the true face of Safe-Holdings.com is revealed. Not only that, but the website is also very boring and feels like it was done created without a single drop of passion. We urge traders to read the following review before investing in the broker.
The account creation process was nothing too special and was finished almost as fast as it began. After we successfully created an account, we were led to what we can only explain as an intermediary page that stands between the website and the member’s area. From there we learn that users can either deposit or provide ID documents in order to continue to the client portal. However, users can easily bypass this section.
We arrived at a user area, that, to put it lightly, was one of the worst we have seen in a while. It felt as if though it was made in a rush without putting any effort or thought into it. The situation with the trading software is such that we could not use it, and not because we did not have access to it. We explain this in more detail later in the review.
However, due to this predicament, we cannot give users any spread values, not even guarantee that trading is possible!
From the so-called go-between page, we learn that the leverage is maxed out at 1:1000. However, certain sections of the website claim the value to be 1:100. We do not know which one to trust. Another mark of a shady broker, for sure.
Safe-Holdings.com is available only in English.
SAFE-HOLDINGS.COM REGULATION AND SAFETY OF FUNDS
We have a significant amount of proof that the brokerage is NOT LICENSED.
First is the following snip from the footer. It states many confusing things, but one of the main ones is that it is in the process of looking fr a license to trade with bitcoin. The rest of the paragraph basically confirms that it is unregulated to provide these services.
Next, we have another provision taken from the footer revealing that the company is not intended for users where the broker is licensed. Yes, you read that right. The broker does not offer its services to countries where it would be otherwise regulated. It’s all very ridiculous.
The legal documents claim that the company functions under the laws of the UK, a fake assertion. This broker is not functioning by UK laws because it is not regulated by the FCA! As a matter of fact, as we have seen, Safe-Holdings.com is completely illegitimate.
Investing in unlicensed brokers is basically throwing your money in vain. We urge our readers to always check for a license before doing anything. Usually, if a broker has one, it will proudly showcase it, but it’s always recommended to check with the regulator. Some of the most trustworthy license issuers are the FCA or CySEC, whose authority spans hundreds of brokers, among which are some of the world’s top. What’s more, is that bot the FCA and CySEC offer client reimbursement schemes to users who have not been paid by a regulated broker. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
SAFE-HOLDINGS.COM TRADING SOFTWARE
The issue with the trading platform is that it does not function properly. Once users open it from the client area, they will be sent over to the following:
As you can see, the web trader is no fully functioning. Whether this is due to sheer negligence on the broker’s side or just by an internal error is not for us to say. But one thing is for sure- users of Safe-Holdings.com cannot trade!
SAFE-HOLDINGS.COM DEPOSIT/WITHDRAW METHODS AND FEES
As we revealed earlier, users are encouraged to deposit before entering a client area. Depositing happens either through Visa or MasterCard. However, when we entered the user are and the payment portal there, we found out completely different things. The account funding portal gives us the following payment methods XChangePro and Jubitter. Both of these are crypto buying and selling sources, making them clear risk. The contradiction we discovered is typical of scammer brokers. The minimum deposit is £250.
We found no withdrawal section in the member’s area! This is extremely worrying, and is a sign that users cannot withdraw! What further evidence does one need to see that Safe-Holdings.com is not worth anybody’s time and money?
How does the scam work?
The first step to this very popular scam is actually one that is taken by most online scams. It has to do with users falling for fake online ads that use a repertoire of alluring elements, including money, beautiful women, expensive cars, and luxurious villas. The only aim of these fake advertisements is to induce the internet user into clicking on them.
Behind these ads is hiding either the scammer broker or an intermediary website whose aim is to introduce the user to the fraudulent broker. On either of these sources, the user will be asked to provide contact information, either a phone number or an email address.
Soon the investor will start receiving calls from a representative of the brokers, whose goal is to stimulate a user into deposit once! If the deposit is successful, then these individuals will let the user go, but sooner they will start getting more calls and emails from the expert scammers, the so-called account managers. The pro fraudsters are here to stay and will induce more deposits from the users, using manipulative tactics, psychological tricks, and pure charm. Those that give in, will sometimes unknowingly deposit huge amounts!
Once the user realizes that he or she has been scammed, it’s usually too late, however, there are some ways of getting your money back, potentially. But before that, the scam artists will try to distract you from withdrawing by either stalling the request or simply advising you against it. Some brokers, however, go the extra mile and are not afraid to shut down the user account and at times the entire website.
What to do if scammed?
The best defensive maneuver is filing for a chargeback through the client’s credit or debit card company. MasterCard and VISA have a chargeback period of 540 days.
If users have lost money by investing it through a bank, then they should change their bank account username and password first! The next step is to call the bank directly and see what they can do.
Investing in any kind of crypto is advised against. Payments made through these are untraceable and as such are lost forever.
Also, never thrust any recovery agents or agencies. These are scammers as well and will take your money. They usually appear once you have been scammed and will offer their monetary retrieval services. But before tracking your lost funds, they will ask for an upfront payment in the form of a service fee. Once this commission is paid, the recovery agent will disappear alongside your money!