SafetyTrades

The broker SafetyTrades offers to take advantage of unique opportunities, unleashing the full power of trading with both traditional and digital assets. However, many users are primarily concerned with another question: how reliable is the company and can they trust it with their funds? Let’s not delay the answer, let’s say it straight away; this is a project created by scammers, from which one can expect nothing but a fraud. For those who need details, they can read our arguments in the review.

Overview of SafetyTrades

The main task of a trader is to find an honest, regulated, and promising broker. To do this, it’s worth taking a closer look not only at the reviews of existing clients but also at all the information published by the company itself. It’s best to start with the official website.

Broker History

So, the company’s website says nothing about the date of its creation, its achievements, or plans. We know that this is exactly what scam brokers do — they have practically no history of their own, and the invented legends are quite easy to expose. Of course, we currently don’t have enough grounds to call them scammers. However, we will return to the issue of the creation date and the duration of the SafetyTrades in this review.

Safetytrades.com Website

We could say that the broker’s official website looks decent because the developers managed to choose colors successfully. However, this is practically the only aspect that deserves positive comments.

Everything else looks like dozens of scam projects currently operating on the internet. For example, it creates the impression that the content of the SafetyTrades website was handled by people who have no idea about providing brokerage services and traders’ requirements. To understand this, it’s enough to look at:

• The Our Story page, where the company describes itself as a “leading digital provider of online brokerage services,” but does not provide any facts to support this claim.
• The Market Overview page, where TradingView widgets are randomly thrown around. Even experienced traders would not understand why they are needed here in such quantity.
• The Our Platform page, which begins by describing the advantages of the proprietary terminal and ends with a description of how good MT4 Margin WebTrader is. We find it difficult to explain such metamorphoses.

At the same time, the broker has done everything to protect the texts on the pages from copying. However, it only helps against users who write truthful reviews about safetytrades.com. For others, it does not exist. For example, we know of at least two twin sites of our “hero.” These are stockstrends.com and trustscapital.com. They replicate the pages of SafetyTrades almost down to the last letter. Or is it not about copying here, but rather these platforms are created by the same scammers?

Registration Process and Personal Account

Even the process of registering a new client raises doubts about its honest operation under the control of regulators. Here, users are asked to fill out a simple form.

Does anyone seriously think that a licensed broker will ask a prospective client for only their name, phone number, email address, and password? And won’t even request consent to the terms of the documents regulating the company’s relationship with the user?

Those who think so will be disappointed. Legally operating platforms collect much more personal data and signatures on documents. And the simplified registration process is one of the clear signs of scammers. This is exactly what SafetyTrades looks like.

This is confirmed by the appearance of the personal account. It contains a standard set of functions characteristic of templates used by scammers.

These include profile and security settings editing, account replenishment, fund withdrawal requests, and viewing trading and financial operation history.

However, this list does not include, for example, additional security settings (such as enabling 2FA). Moreover, not a single option promised in the account types table was found here either. It seems that SafetyTrades is deceiving its clients again.

Trading Platform

The company lavishly praises its own trading terminal. However, our acquaintance with it convinces us that this software is not as good as the broker claims.

The trading platform has many drawbacks:

• Only one price chart in the main window.
• Inability to independently adjust asset lists in the market overview.
• A minimum (only 5) number of timeframes, with the most commonly used ones excluded.
• Non-standard approach to setting transaction parameters (everything is specified in dollars, not in absolute prices).

Moreover, existing clients mention the most serious flaw of the software in their reviews. It turns out that the administrators of the trading server can independently manipulate the flow of quotes in the company’s interests. And do we still believe that SafetyTrades operates fairly with traders?

Contacts

The company’s contacts are also not well-established. Users will only find the following on the Support page and in the website footer:

• Email address support@safetytrades.com.
• Phone number +447488873980.
• Support hours: Monday to Friday from 09:00 to 17:00.

Clients have no other options. Even the company’s registration address or office location could not be found. Likewise, there is no Live Chat. What’s there to talk about when the broker forgot (or didn’t intend) to even specify the time zone in the support schedule?

SafetyTrades also does not provide links to its social media pages. Obviously, scammers need to attract users (for example, by phone) rather than waste time creating and maintaining active groups and channels. It seems that the broker’s employees are unaware that Social Media can themselves become powerful sources of new clients.

Analysis of Services Offered by The Broker

Even a superficial acquaintance with the official website easily convinced us that the company was created by scammers. Further in our SafetyTrades review, let’s examine the conditions for conducting trading and non-trading operations. What does the broker offer to its clients?

Funding and Withdrawal

The project owners decided that information about conducting financial operations for clients was unnecessary. At least, this conclusion can be drawn when there’s no mention of them on the SafetyTrades website.

We hoped to find more information in the personal account. Well, we were out of luck. When attempting to fund the account, it turns out that the list of payment methods is empty. Of course, the problem will be solved by contacting customer support. At the same time, support specialists will provide a funding method, which is likely to be a transfer to a cryptocurrency wallet or a drop card. This way, the broker will keep its details secret.

For withdrawals, there are two methods available: withdrawals to cards and cryptocurrency wallets. There are no other options, and no withdrawal options are provided.

Review of SafetyTrades Trading Conditions

The broker has no intention of providing detailed information about trading conditions to clients. At least, in the table with types of accounts, you can only find information about the minimum deposit, maximum leverage sizes, and the number of available trading instruments.

The table contains information about seven types of accounts:

• Basic with a deposit from $5,000, leverage of 0, and access to 300+ trading instruments.
• Bronze with a deposit from $25,000, leverage of up to 10, and access to 800+ trading instruments.
• Silver with a deposit from $50,000, leverage of up to 50, and access to 1000+ trading instruments.
• Gold with a deposit from $75,000, leverage of up to 100, and access to 1300+ trading instruments.
• Platinum with a deposit from $100,000, leverage of up to 200, and access to 1500+ trading instruments.

The two accounts are similar to Platinum but differ from it in the size of the minimum deposit. For the VIP tariff, it’s $250,000, and for the Savings Account, it is $500,000.

The leverage of 0 in the Basic tariff looks very interesting. It seems that it should mean trading only with your own funds. Only an entirely illiterate representative of the company could have written that. Likewise, naming the last type of advanced account Savings Account seems misleading. Based on the characteristics, it appears to be a regular trading account. Moreover, no interest is accrued on the balance for it.

We have come to the conclusion that the types of accounts are just another legend. In the trading terminal, leverage changes depending on the asset group, and it is not possible to choose a tariff plan when registering with this company.

Is SafetyTrades Trustworthy and Reliable?

Completing our broker review is an analysis of the legal information about the company. It’s this information that should conclusively confirm that this project is a scam.

Assessing Legitimacy

There’s no company address on its website. Only a phone number in the UK is provided, along with a mention in documents of compliance with British laws.

However, the verification did not reveal any matches in the Registration Chamber databases. There are no matches by name in the business registers of other countries where British law still applies.

In fact, SafetyTrades has not undergone official registration anywhere and exists only online. Naturally, it could not obtain a license. This means that it is operating illegally.

Established Track Record

We have already mentioned that SafetyTrades also remains silent about the date of its creation and the most significant events in its history. We used the Whois service, where it’s easy to find the domain registration date.

As a result, we see that the safetytrades.com domain was registered on December 23, 2023. This means that the broker’s website has been around for about three months. Clearly, this is not enough time to warrant publishing historical data or to consider this platform a reliable broker.

Implications for Traders

Forex and CFD broker SafetyTrades employs all the tactics of scammers. It is not officially registered or licensed, hides its payment details and historical information, and only partially discloses its trading conditions. Additionally, there are exact copies of the platform’s website online. This is sufficient evidence to conclude that it is a scam, and one should not open, let alone fund accounts on this platform.

Strengths and Weaknesses