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Regarding the legitimacy of Saafan Markets forex brokers, it provides a comprehensive investigation into the security aspects of regulatory and WikiBit, as well as whether there are any negative scam reviews.

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Is Saafan Markets A Scam？

Introduction

　　Saafan Markets, a relatively new entrant in the forex trading arena, positions itself as a global trading platform offering a wide range of financial instruments. With claims of competitive spreads and advanced trading technology, the broker aims to attract both novice and experienced traders. However, the forex market is rife with unregulated brokers and scams, making it essential for traders to conduct thorough due diligence before committing any funds. This article investigates Saafan Markets' credibility through a structured analysis, focusing on regulatory status, company background, trading conditions, customer experiences, and overall risk assessment.

Regulation and Legitimacy

　　The regulatory status of a broker is a critical factor in assessing its legitimacy. Saafan Markets operates as an unregulated entity, lacking oversight from reputable financial authorities such as the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). The absence of regulation raises significant concerns regarding the safety of traders' funds and the broker's accountability.

Regulatory Authority	License Number	Regulatory Region	Verification Status
None	N/A	N/A	Unverified

　　The lack of regulatory oversight means that Saafan Markets is not subject to the stringent compliance requirements that regulated brokers must adhere to. This absence of regulation can lead to unethical practices, such as misappropriating client funds or failing to execute withdrawal requests. Additionally, unregulated brokers often employ misleading marketing tactics, promising guaranteed returns that are too good to be true. The absence of a regulatory framework makes it challenging for traders to seek recourse in the event of disputes or fraudulent activities.

Company Background Investigation

　　Saafan Markets Ltd is registered in Saint Lucia, with its operational headquarters located at the Sotheby Building, Rodney Village. The company was established in May 2024, which raises questions about its credibility and experience in the industry. The management team behind Saafan Markets has not been extensively documented, and there is limited information available regarding their professional backgrounds and expertise in financial services.

　　Transparency in operations is crucial for building trust with clients. However, Saafan Markets has not demonstrated a high level of transparency in its information disclosure. Potential investors should be cautious, as a lack of detailed company history and management profiles can indicate potential red flags regarding the broker's reliability.

Trading Conditions Analysis

　　When evaluating a broker, it's essential to consider the overall cost structure and trading conditions offered. Saafan Markets claims to provide competitive trading conditions, but several user reviews suggest otherwise. Complaints often center around hidden fees and unexpected charges that can significantly impact a trader's profitability.

Fee Type	Saafan Markets	Industry Average
Major Currency Pair Spread	1.6 pips	1.2 pips
Commission Structure	Zero Commission	Low (0.1% - 0.5%)
Overnight Interest Range	Variable	Standard (0.5% - 1%)

　　The spread for major currency pairs is reported to be higher than the industry average, which can deter traders looking for cost-effective trading options. Additionally, while the broker advertises a zero-commission structure, users have reported instances of unexpected fees during withdrawal processes, raising concerns about the transparency of their fee policies.

Client Fund Safety

　　The safety of client funds is paramount when choosing a forex broker. Saafan Markets has not provided clear information regarding its policies on fund segregation, investor protection, or negative balance protection. In regulated environments, brokers are required to keep client funds in segregated accounts, ensuring that traders' money is protected in the event of the broker's insolvency.

　　Without such safeguards, traders face significant risks, particularly if the broker were to go bankrupt or engage in fraudulent activities. Historical complaints indicate that users have experienced difficulties in withdrawing their funds, often citing unreasonable demands for additional payments or taxes before their requests are processed. This pattern of behavior is a significant red flag that potential investors should consider seriously.

Customer Experience and Complaints

　　Customer feedback serves as a valuable indicator of a broker's reliability and service quality. Unfortunately, reviews of Saafan Markets reveal a concerning trend of negative experiences among users. Common complaints include slow customer service response times, unfulfilled promises regarding trading conditions, and significant delays in withdrawal requests.

Complaint Type	Severity Level	Company Response
Withdrawal Issues	High	Poor
Customer Support Delays	Medium	Average
Misleading Marketing Claims	High	Poor

　　One typical case involves a trader who reported being unable to withdraw funds after fulfilling all trading requirements. The broker demanded an unexpected "capital gains tax" before processing the withdrawal, which is a tactic commonly used by scam brokers to delay or deny access to funds. Such experiences highlight the risks associated with trading with Saafan Markets and suggest a pattern of customer dissatisfaction that cannot be overlooked.

Platform and Execution

　　The trading platform's performance, stability, and user experience are crucial for successful trading. Saafan Markets offers the MetaTrader 5 platform, which is known for its advanced features. However, user feedback indicates that the platform may suffer from issues such as slippage and order rejections, which can adversely affect trading outcomes.

　　Traders have reported instances of significant slippage during volatile market conditions, leading to unexpected losses. Additionally, some users have alleged that their orders were not executed at the requested prices, raising concerns about the broker's execution quality and potential market manipulation.

Risk Assessment

　　Engaging with Saafan Markets involves several risks that potential investors should be aware of. The absence of regulatory oversight, coupled with negative customer reviews and reports of withdrawal issues, contributes to a high-risk profile for this broker.

Risk Category	Risk Level (Low/Medium/High)	Brief Description
Regulatory Compliance	High	No regulation, high risk of fraud
Fund Safety	High	Lack of fund protection measures
Customer Support	Medium	Poor response to complaints
Trading Conditions	Medium	Higher spreads, unexpected fees

　　To mitigate these risks, traders should conduct thorough research before investing, consider starting with a minimal deposit, and be prepared to switch to a more reputable broker if issues arise.

Conclusion and Recommendations

　　In conclusion, the evidence suggests that Saafan Markets raises several red flags that potential investors should consider seriously. The absence of regulatory oversight, negative customer experiences, and issues related to fund withdrawals indicate that this broker may not be trustworthy.

　　For traders looking for reliable options, it is advisable to consider regulated brokers with a proven track record of transparency, customer support, and fund safety. Some reputable alternatives include brokers regulated by the FCA or ASIC, which offer better protection for client funds and a more reliable trading environment.

　　In summary, while Saafan Markets may present attractive trading conditions, the associated risks and negative feedback warrant caution. Investors should prioritize their financial safety and consider more established and regulated brokers for their trading activities.

Is Saafan Markets a scam, or is it legit?

Item: Saafan Markets
Rating: 1.20

The latest exposure and evaluation content of Saafan Markets brokers.

Withdrawal requires payment of a 30% 'capital gains tax' before funds are released.

1. On FB Messenger, Guo Xiaofeng sends a message to Max, who then communicates with his assistant Wang Ming via Line to provide information on strong stock operations. 2. They entice joining the "520 Compound Interest Plan" for gold price difference operations to earn substantial profits. All losses from stock sales are added up for more operations (Max promises that profits will first cover the amount lost from stock sales before splitting; profits from the first two weeks of trading are not shared). During this period, two small group sessions (likely accomplices) led Bitcoin operations that resulted in a blow-up, one ending with a balance of zero, and another with a balance of -12,949 USDT. Wang Ming states: "You must cover the negative losses within two days, or it will affect your credit. It's hard to recover losses with too little capital; it could take two to three months. You could borrow another 3 million, I guarantee to help you recover your losses within a week." He urged me to find ways to increase capital by borrowing more money (already invested NT$2 million during this period). 3. The only option was to take out a mortgage loan. Wang Ming said he consulted with the teacher and proactively offered a credit of NT$6 million, allowing me to join major market operations without any cost, provided I repay within half a month but restricted withdrawals until then. Not wanting to owe anyone and keeping my word, I repaid the NT$6 million credit and added another NT$2 million. 4. After repaying the credit with the bank mortgage loan, withdrawal requests were denied despite records showing 926,000 USDT had been withdrawn in the account; however, no funds were actually transferred to my bank account. They demanded a 30% capital gains tax for withdrawal. All my money including an NT$8 million mortgage was already invested; I had no funds left to pay further. Customer service claimed I owed taxes and forcibly removed me from the customer service group; Max and Yang Zongxing also left the Line chat, assistant Wang Ming stopped responding entirely, and I was forcibly removed from both the main and small groups (turns out they were all in it together). 5. My principal of NT$10 million along with all trading profits were withheld by this group; losses from stock sales incurred between June and August left me without any income. Now I have to pay an NT$8 million monthly mortgage interest—how can just one word "tragic" describe this?

You must pay a profit share to make a withdrawal.

In April, I joined a Line group called "Soaring High," which included a teacher named Max and two assistants, XX Ying and XX Qiang. Initially, it was a stock group; from Monday to Friday, they would recommend a soaring stock to buy daily. Of course, there were both gains and losses. As we approached May 20th, they mentioned that the stock market outlook was not good and introduced a new investment plan called the "May 20th Compounding Plan." They invited their friend from the Piper Sandler institution, Mr. Yang Zongxing, to join. To participate, one needed to exchange cash for USDT through a broker to make deposits. After depositing, operations on gold trading (both selling and buying) would take place around 12:00 PM and 6:00 PM from Monday to Friday. Initially, the agreement was to pay the profit share after making withdrawals. However, when I wanted to withdraw, they changed the rule, stating that some students did not pay their share after withdrawing. Therefore, they shifted to requiring payment before withdrawal! This arbitrary change of rules also involved asking you to borrow money for the payment. Isn’t it supposed to be simple as making a withdrawal? I continuously communicated with them to let me withdraw first and promised immediate payment of my share once the money was withdrawn. But they insisted on receiving the profit share before allowing any withdrawals! A legitimate operator would want us to earn money as well as earn a share of the profits themselves. Their main interest seemed in earning this profit share, even encouraging others to take loans or use credit for investment! When I finished paying off the credit but couldn't withdraw, I realized it was a scam and stopped depositing more money! They threaten to freeze accounts if one cannot pay the share and unexpectedly retract links without warning! They expelled investors from the group making it impossible for them to withdraw their funds!

The funds became negative in an instant due to unusual transactions.

The group's teacher is Max, let everyone participate in the "520 Compound Profit Project", said with Piper Sandler organization and yostlm cooperation The foreign exchange trader Yang Zongxing (yostlm) said that the operation of the project must be with the exchange merchant (Currency Shengke) to pay cash in person to obtain the virtual USD USD in order to be able to Meta Trader5 to operate foreign exchange, and the minimum amount of money to deposit! The minimum deposit is $100,000 and the requirement to share nearly half of the profits to the foreign exchange trader Each time the operation is notified by the group assistant coach Mika Liao, in the operation, because it is suspected that it is designed to be more than one transaction and instantly caused by the penetration of the position, the first time the anomaly said that it was the tiredness of the network I pressed more than once, I can only admit that I was unlucky, but after that I was divided into two orders, the first unit and the second are different, but the third extra is the same as the first unit, this should not be a problem of tiredness, it should not be a problem of the network. I guess it is not a problem with the progressive cells! (I lost 23,000 USD in total and still have a negative balance of 500 USD), now the foreign exchange trader (Yeung Chung Hing) demanded to make up the negative balance, otherwise it will result in a default of delivery.

I need to pay income tax of 30% of the withdrawal amount

There was this chat group created by Max and teaching assistant Chen Xhan. Later, they invited Mr. Yang to join the cooperation and persuade everyone to participate in the compound interest plan. One day I told my teaching assistant Chen ZhiX that I wanted to withdraw money, and she said she would contact Mr. Yang to pay the share, but after the share was paid, the backend webpage could not be opened. Mr. Yang said that the account was checked for tax evasion, but in the end he said that I had to pay 30% income tax on the withdrawal amount before I could restore the backend login of the webpage. I felt like I was scammed.

Saafan Markets's latest industry rating score is 1.20, the higher the score the safer it is out of 10, the more regulatory licenses the more legitimate it is. Saafan Markets If the score is too low, there is a risk of being scammed, please pay attention to the choice to avoid.