SARACEN INC Review: High Risk (Illegal Business)

SARACEN INC Company Overview:

SARACEN INC is a forex broker registered in Saint Vincent and the Grenadines in 2021, offering investment trading services such as forex, commodities, indices, and stocks CFDs to investors. The company is headquartered in Kuala Lumpur. SARACEN INC's registered address in Saint Vincent and the Grenadines is SUITE 305, GRIFFITH CORPORATE CENTRE, P.O. BOX 1510 BEACHMONT, KINGSTOWN, VC0120 ST. VINCENT & GRENADINES, with the enterprise registration number 26306. According to a WHOIS search conducted by TraderKnows, the broker's official domain was registered on 2021/06/10, approximately two years ago.

Is SARACEN INC Compliant and Legal? Does it hold the appropriate financial regulatory licenses?

Although this broker is registered in Saint Vincent & the Grenadines, the Financial Services Authority (SVGFSA) of Saint Vincent and the Grenadines does not regulate, monitor, supervise, or license business companies (BCs) engaged in forex trading or brokerage activities. Its regulatory scope is limited to ensuring BCs comply with the obligations stipulated in the revised laws of Saint Vincent and the Grenadines Chapter 149, the International Business Companies (Amendment and Consolidation) Act of 2009. In other words, SARACEN INC lacks legitimate regulation.

Trading Instruments Offered by SARACEN INC:

According to Saracen Inc's official website, the broker provides various investment trading services, including forex, commodities, indices, and Contracts for Difference (CFDs) on stocks.

Trading Software Provided by SARACEN INC:

SARACEN INC offers users the MT4 trading platform, including both demo and live accounts.

Funds Security:

SARACEN INC has not disclosed any third-party fund regulatory information on its official website, and users' fund security cannot be guaranteed.

Deposit and Withdrawal Channels:

SARACEN INC supports various deposit and withdrawal methods, including WalaoPay, PaymentAsia, SurePay, B2BinPAY, and Local Depositor.

Leverage Ratio:

The broker advertises leverage ratios ranging from 500 to 2000, which is significantly higher than the leverage ratios commonly offered by compliant brokers (generally ranging from 10 to 100).

Summary:

TraderKnows warns investors that SARACEN INC lacks effective regulation, and the broker has not disclosed crucial information regarding user fund security. SARACEN INC is a high-risk forex broker, and investors' funds on this platform are unprotected. Please stay away from this platform to avoid potential financial losses.

Currently, this broker is marked as "Illegal Business" on TraderKnows.