[xysoom]

Saracen Markets review 2022



Saracen Markets is an offshore broker that does not really manage to distinguish itself from the hundreds of such companies out there. The broker has a lot of issues, mainly surrounding its regulation, and trading conditions. And before we take a look at the company in more depth, we should mention we could not actually make an account with it – doing so required we submit and verify a real phone number, as you can see from the screenshot below:To get more news about saracenmarkets review, you can visit wikifx.com official website.

However, there was no way that we would give a company like Saracen Markets such personal information, and we suggest you do not do that either! If you are still on the fence about the broker, read on – we have exposed all of its failings in the following review:
So, what’s the issue with St. Vincent? Well, the offshore jurisdiction does not regulate its Forex markets in any capacity, leading to them becoming infested with scammers. The brokers who set up shop there are mainly conmen looking to avoid being held accountable for their crimes. And on the off chance they are not, there is simply no guarantee whatsoever that they have what it takes to survive on the incredibly volatile Forex markets.

To shield their clients from the scammers and the fluctuations in the markets, stricter jurisdictions have envisioned different sets of rules that companies need to follow – for example, in the UK, they need to report on a daily basis on open and closed trades. This ensures that no market manipulation is going down.

To even get a license to access the UK markets, a company needs to have over 730 000 euro to its name and keep its money segregated from its clients’. This is a strong guarantee that it has the needed liquidity to survive the rough turns of the markets – and even if such a company should fail, its clients are entitled to a compensation – up to 85 000 pounds is paid out to them from guarantee funds that brokers are required to participate in.

As you can see, trading with a legitimate, licensed company will be nothing but a benefit to you – so avoid offshore brokers like Saracen Markets at all cost, and stick with firms that are under governmental oversight!
Can I make money with Saracen Markets?
Absolutely not – there is no way that anyone can turn a profit with an unlicensed broker. What’s more, Saracen Markets does not even mention its fees in its Terms and Conditions – and without an explicit fees schedule, the situation is ripe for abuse from an opportunistic broker! And even if that weren’t the case and Saracen Markets were completely transparent about its fees, there would still not be any reason for anyone to invest with the company, especially since legitimate brokers are so readily available nowadays – check out this list of registered UK companies, for example.

What leverage does Saracen Markets offer?
Saracen Markets provides access to a leverage of up to 1:2000 – this monumental amount bears significant risk to any trader. Noting that, most regulatory bodies have banned obscene leverage amounts – and yet, brokers like Saracen Markets are not bound by any regulation or concern for their clients’ fund safety. Therefore, they offer these amounts in a bid to attract more clients, respectively more deposits – so beware if you see a leverage like that in the wild, as odds are you are dealing with an offshore broker, a scam, or both!