SafeTrade has been flagged by Financial Conduct Authority for "Unauthorised". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Several red flags with SafeTrade: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Flagged by Financial Conduct Authority|Cannot verify credentials
I lost a significant amount because SafeTrade did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: High security standards|Tax reports included|Easy withdrawals
Cons: No phone support on weekends
After for nearly two years with SafeTrade I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Low minimum deposit|Transparent fees
Cons: Inactivity fee applies after 12 months|Minimum deposit could be lower
SafeTrade changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Competitive fees|Social trading features
Cons: Nothing significant|No phone support on weekends
The hidden fees at SafeTrade are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Great customer service|Easy to use platform
Cons: Nothing significant|Cannot customize dashboard fully
If you are reading this considering SafeTrade - run. I wish I had read more negative reviews after my brother mentioned them. I thought the positive ones were real. Maybe some are. My experience over since I opened my account last year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Copy trading available|Smooth onboarding|Fast execution
Cons: Nothing significant
The spread at SafeTrade is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after my brother mentioned them and initially thought the platform was good - until I started trading seriously.
Pros: Reliable uptime|Fast deposits|Segregated accounts|Copy trading available
Cons: No phone support on weekends|Nothing significant
Tried to withdraw my funds from SafeTrade and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Do not believe the bonus offer from SafeTrade. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after my brother mentioned them and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Risk management tools|Multi-currency support
Cons: Live chat only during business hours
The reporting at SafeTrade is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Responsive team|Risk management tools|Excellent charting
Cons: No dark mode on mobile|Could offer more webinars