SAF Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Business
License
ASIC Suspicious Clone 
Apply for withdrawal on December 15, 2020. But it can’t arrive until 31st. And I can’t reach them by email cuz their email address is fake. No my funds in their account has been gone. I can’t contact the customer service, and I don’t know where my money is
In the ever-evolving landscape of forex trading, SAF has emerged as a broker that has drawn both interest and skepticism from traders. Established in 2018, SAF operates under the auspices of the Australian Securities and Investments Commission (ASIC), but its regulatory status remains murky, leading to mixed reviews. This review will delve into the broker's offerings, user experiences, and expert opinions to provide a comprehensive overview of SAF.
Note: It's important to highlight that there are multiple entities using the SAF name, which can complicate the evaluation of their legitimacy. Our analysis incorporates a variety of sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
We score brokers based on a combination of user feedback, expert analysis, and factual data.
SAF, officially known as SAF Financial Services Pty Ltd, was founded in 2018 and is based in Australia. The broker offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, catering primarily to forex trading. However, it has been flagged as a suspicious clone operation, raising concerns about its legitimacy. According to WikiFX, the broker has received a low score of 1.56 out of 10, indicating potential risks for users.
SAF claims to operate under ASIC regulations; however, reviews suggest that its actual regulatory status is questionable, with multiple sources labeling it as an unregulated broker. The lack of a robust regulatory framework raises concerns for potential users.
The broker primarily supports transactions in AUD, but information regarding cryptocurrency support is lacking. Reports from users indicate difficulties in withdrawing funds, suggesting that SAF may not provide a reliable experience in this regard.
Information on the minimum deposit required to open an account with SAF is scarce. However, user experiences suggest that the broker may impose higher-than-average requirements, which could deter new traders.
SAF does not appear to offer significant bonuses or promotions, which is a common strategy among more reputable brokers to attract new clients. The absence of such incentives may reflect a lack of competitiveness in the market.
The primary focus of SAF is on forex trading, but specific details about available currency pairs or other asset classes are not well-documented. This lack of transparency could be a red flag for potential investors.
User reviews indicate that SAF may have hidden fees or unfavorable spreads, which can significantly affect trading profitability. Traders are advised to exercise caution and thoroughly review the fee structure before committing to this broker.
The leverage options offered by SAF are not clearly defined in the available resources. Traders should be aware that high leverage can amplify both gains and losses, making it a double-edged sword.
SAF supports both MT4 and MT5, which are widely regarded as user-friendly and feature-rich platforms. However, the overall trading experience has received mixed reviews, with many users citing issues with execution and reliability.
There is limited information on specific regions where SAF operates or restricts trading. Prospective users should verify whether their country is eligible for trading with SAF.
Customer service appears to be a significant pain point for SAF, with reports of unresponsive support in both English and other languages. Users have expressed frustration over the inability to reach customer service representatives when issues arise.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions: Users have reported unfavorable conditions, including high minimum deposits and unclear fee structures. According to WikiFX, the broker's low score indicates potential issues with account management.
Tools and Resources: While SAF provides access to popular trading platforms like MT4 and MT5, the lack of educational resources and market analysis tools has been noted as a significant drawback.
Customer Service and Support: The most concerning feedback revolves around customer service, which many users have labeled as unresponsive and ineffective. One user lamented, "I applied for withdrawal on December 15, 2020, but it never arrived, and I couldn't reach them by email" (WikiFX).
Trading Setup (Experience): The overall trading experience has been marred by reports of execution delays and technical issues, leading to dissatisfaction among users.
Trustworthiness: With a score of 2, SAF's trustworthiness is under scrutiny. Users are advised to be cautious, especially given the broker's classification as a suspicious clone.
User Experience: User experiences have been predominantly negative, with many expressing frustration over withdrawal issues and lack of support.
In conclusion, the SAF review reveals a broker that may pose significant risks for traders, particularly due to its questionable regulatory status and poor customer service. Potential users are encouraged to conduct thorough research and consider more established alternatives before engaging with SAF.
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