SaracenMarkets- Safe or Scam?

In this particular article, we will analyze whether SaracenMarkets is worth investing in or not. We will tell you all the important details about the broker, such as market instruments, trading platform, account types, deposit and withdrawal options, and customer support.

Is SaracenMarkets Legit?

According to the broker, SaracenMarkets is owned and operated within the Saracen Markets Group of companies. SARACEN MARKETS (PTY) LTD is a South African company with the registration number 2013/120134/07.

SARACEN MARKETS (PTY) LTD is licensed and regulated by the Financial Sector Conduct Authority (FSCA) under FSP licence number 44806.

SARACEN INC is incorporated in St. Vincent & the Grenadines as an International Business Company with the registration number 26306 BC 2021 and a registered office at SUITE 305, GRIFFITH CORPORATE CENTRE, P.O. BOX 1510 BEACHMONT, KINGSTOWN, VC0120 ST. VINCENT & GRENADINES.

Market Instruments

SaracenMarkets offers forex, commodities, indices, equities and cryptocurrencies.

Account Types

SaracenMarkets provides Pro, VIP accounts, and Islamic accounts. The Pro account offered by SaracenMarkets is suitable for all types of traders. To open a VIP and PRO account has a minimum deposit requirement of $10.

Trading Platform

SaracenMarkets offers MT4 & MT5 and user-friendly web-based trading platform called WebTrader.

Deposit & Withdrawal

SARACENMARKETS provides several deposit and withdrawal options to facilitate funding the trading account. The minimum deposit amount for USD deposits is $5. For Malaysian customers, the minimum deposit is 10 MYR, while for Indonesian customers, it is 100K IDR. Vietnamese customers can make a minimum deposit of 50K VND, and Thai customers have a minimum deposit requirement of 100 THB. The broker supports various funding methods, including PaymentAsia, SurePay, B2BinPAY, AraniPay, Walaopay and Local Depositor.

The available currencies for withdrawal include USD, INR, MYR, IDR, VND, THB, PHP and SGD.

Customer Support

Traders can reach out to the broker's customer service team via telephone at +85281975503 for the HK Office. They can also send inquiries and questions via email to support@saracenmarkets.com.

SaracenMarkets offers the option to fill in form on their website to get in touch with customer support.

The broker's registered office is located at Suite 305, Griffith Corporate Centre, P.O. Box 1510 Beachmont, Kingstown, VC0120 St. Vincent & Grenadines.

Conclusion

In conclusion, SaracenMarkets offers a diverse range of trading instruments and account types, providing opportunities for traders to engage in forex, commodities, indices, equities, and cryptocurrencies. The broker is licensed and regulated in South Africa, adding a layer of legitimacy. However, there are several disadvantages to consider, including the warning message indicating potential concerns or risks associated with SaracenMarkets, the medium potential risk, and the low score received. Overall, individuals must exercise caution, conduct further research, and seek advice from reliable sources before engaging with SaracenMarkets.