Welcome to our SafeTradeFX Review in which we investigate the website currently found at safetradefx.com.
Yesterday, February 15, 2023, we received the following complaint from a person who claims to have lost more than $65K:
My wife initially opened a Bulk Assets Account with Safetradefx, as advertised on their website. However, after she made the deposit, they informed us that it was now a Fixed Deposit Trading Account, with a monthly deposit of $3000. We immediately informed them that this was not feasible for us, but continued to make deposits to keep the account current while waiting for them to change it back.
Unfortunately, after a few months, we were no longer able to keep up with the deposits, and we requested to close the account and withdraw our assets. Safetradefx then started adding different fees that we had to pay, but we still have not been able to withdraw our funds.
So is SafeTradeFX legit or a SCAM?
SafeTradeFX Review
The domain safetradefx.com was registered on October 11, 2021, for 2 years through OwnRegistrar, Inc., but has been updated on October 8, 2022. It is hosted by OVH SAS.
It has no SimilarWeb page, which indicates it’s not getting much traffic, and has a 0% Semrush Authority Score and a few backlinks, but none from any trustworthy websites.
SafeTradeFX is an international forex broker that offers trading in more than 60 financial derivatives, including forex, cryptocurrencies, and loans. The broker claims to provide capital security, low spreads, and a stable trading environment.
They offer investment options for anyone, regardless of their previous investing experience. Investors can choose to trade on their own or let the company automate their investment portfolios. SafeTradeFX’s trading service is open 24/5, and they guarantee capital security with their automated stop-loss systems.
The company encourages potential investors to use their live chat to learn more about their services and get started investing to make significant profits.
The website lists several investment plans with minimum deposit requirements and estimated daily profits. The investment packages offered by SafeTradeFX include Basic Plan, Elite Plan, Deluxe Plan, Platinum Plan, Fixed Deposit Trading Account, and Bulk Assets Account.
Each plan requires a minimum deposit, ranging from $500 to $30,000, and promises a minimum daily estimated profit of 65-70%. Stop Loss and Take Profit limits are set for each plan, and some plans offer a gift bonus. The plans vary in their duration, ranging from 7 to 35 days. However, the maximum possible deposit for the Fixed Deposit Trading Account and Bulk Assets Account are not provided.
The page features several testimonials and awards.
The broker has service centers in different countries, including the US, UK, Seychelles, China, United Arab Emirates – Dubai, and Malaysia.
The website also mentions that all live trading accounts through SafeTradeFX brands are FDIC insured.
Is SafeTradeFX a Scam?
Based on safetradefx.com, it is difficult to determine whether SafeTradeFX is a scam or not.
On one hand, the broker claims to offer “capital security” and an “excellent and stable trading environment,” as well as low spreads and 24/7 client support.
On the other hand, some of the investment plans offered on the website, such as the high daily estimated profits and the lack of information on the maximum deposit amounts for certain plans, could be red flags.
In addition, the website also offers loans, which is not a typical service offered by forex brokers. The lack of transparency regarding the loan terms and conditions raises questions about the legitimacy of this service.
It is also unclear whether SafeTradeFX is regulated by any reputable financial authorities.
Several pages on the website seem very suspicious and sketchy. For example, there’s a page titled “Dunisani Withdrawal,” which says “Withdrawal Form successfully submitted; but, fund transfer cannot be initiated. Please contact your trade manager now… Thank you!”
Also, there’s a page titled “Low Data,” which repeats a few times the sentence “Low Data please subscribe now!”
There’s also a page titled “Abigail Roberts,” which looks like a client dashboard with the total deposit, profit ($300), total balance, and other information.
Finally, there’s a page titled “Withdrawal 2,” which says “Request P2P Withdrawal” and “$15,000.00 / One Time Generation” and shows an image of a progress bar stuck at 82%. If you click on “Request P2P Withdrawal,” you are led to a page titled “Buy P2P Access,” which says “Secure Your P2P Withdrawal Access” and “Contact Your Trade Manager Immediately…” And repeats this warning a few times.
Also, the Copyright line on some of the pages is “©Copyright 2020 Safe Trade Fx,” so it seems they have not updated that.
On the homepage the Copyright line is
© 2021 SafeTradeFX Financial, Inc., All Rights Reserved. © 2021 SafeTradeFX, All Rights Reserved. © 2021 SafeTradeFX Invest LLC. Member FINRA & SIPC. All Rights Reserved. © 2021 Axos Invest, Inc.
We could not find them on the FINRA and SIPC websites, however, we didn’t find an AXOS INVEST LLC from LAS VEGAS, NV on SEC and SIPC, however, Axos Invest’s website is axos.com and not safetradefx.com.
According to WikiFX, Safe Trade FX is a Chinese company rated 1.01/10 with a suspicious regulatory license and a suspicious scope of business, however, there are no comments about them.
Bottom Line
While SafeTradeFX claims to be a global forex broker with offices in several countries, offering over 60 financial derivatives including forex, cryptocurrencies, and loans to clients worldwide, which prioritizes trust in trading and provides capital security, low spreads, and a stable trading environment, we have found disturbing red flags that suggest that they are nothing but a SCAM.
Overall, it is recommended to exercise caution when dealing with SafeTrade FX or any other broker that makes high-profit claims and lacks transparency regarding its operations and regulatory status.
If you have been scammed by Safe Trade FX, or if you have any information about them, please let us know by commenting below.
And if you have lost a significant amount of money to online scams, do not lose hope. We can help you recover your funds!
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