Savebroker is a forex broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that Savebroker is a scam.
Company Overview
Savebroker is a relatively new broker, having been founded in 2022. The company claims to be headquartered in St. Vincent and the Grenadines, but there is no evidence to support this claim. Savebroker does not have a website, and its contact information is incomplete.
Does Savebroker Have Any License?
No, This company does not have any licenses from any reputable financial regulatory authority. This is a major red flag, as it means that Savebroker is not subject to any oversight or regulation.
Is Savebroker Regulated By Any Authority?
No, It is not regulated by any authority. This is another major red flag, as it means that Savebroker is not subject to any oversight or regulation.
Pros and Cons
Pros:
- The minimum deposit is low ($250).
- The trading platform is user-friendly.
- There are a variety of trading products and services offered.
Cons:
- Savebroker is not regulated by any reputable financial authority.
- There is no evidence to support the claims made by Savebroker.
- The company has a history of negative reviews.
How Does Savebroker Reach To Their Prey?
This website uses a variety of methods to reach potential victims, including:
- Online advertising: Savebroker runs ads on websites and social media platforms. These ads often make false or misleading claims about the company’s services.
- Cold calling: Savebroker employees cold call potential victims and offer them free trading advice or seminars.
- Social media: It uses social media platforms to connect with potential victims and build trust.
Technical Details
Minimum Deposit:
The minimum deposit for Savebroker is $500.
Trading Platform:
This site uses the MetaTrader 4 trading platform. This is a popular platform that is used by many other forex brokers.
Spread:
The spreads offered by Savebroker are not competitive. The average spread for EUR/USD is 1.5 pips.
Leverages:
They offer leverage up to 1:500. This is a high level of leverage, which can magnify losses as well as profits.
Packages and Products They Offer
Savebroker offers a variety of trading products and services, including:
- Forex trading
- CFD trading
- Cryptocurrency trading
- Social trading
- Education and training
Withdrawal and Deposit Method
Savebroker offers a variety of withdrawal and deposit methods, including:
- Credit/debit cards
- Wire transfers
- E-wallets
What Do Their Previous Traders Say?
The reviews of Savebroker from previous traders are mostly negative. Many traders have complained about the company’s high fees, poor customer service, and unfair trading conditions.
Summing Up- Why Should Not You Trust Savebroker
There are a number of reasons why you should not trust Savebroker. These include:
- The company is not regulated by any reputable financial authority.
- There is no evidence to support the claims made by Savebroker.
- The company has a history of negative reviews.
- The spreads offered by Savebroker are not competitive.
- The leverage offered by Savebroker is high, which can magnify losses as well as profits.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Savebroker, you may be able to recover your funds with the help of a financial recovery service. These services specialize in helping victims of investment fraud get their money back.
File A Complaint Against Scam Broker's
Final Thoughts
Savebroker is a scam broker that should be avoided. If you are considering trading with Savebroker, I urge you to reconsider. There are many other legitimate forex brokers that offer better services and lower risks.
If you have any questions or concerns about Savebroker, please feel free to contact me. I am happy to help you in any way I can.
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