Saracen Markets is a forex broker registered in Saint Vincent and the Grenadines, specializing in trading forex and Contracts for Difference (CFDs) and offers financial trading services in forex, commodities, indices, options, cryptocurrencies, and more. Saracen Markets offers two main account types and provides leverage up to 1:2000.
Company Background：
Saracen Markets is an online trading platform established in 2022 with its registration located in Saint Vincent and the Grenadines. The domain registration date for the company is June 24, 2022. Regarding regulation, although Saracen Markets claims to be regulated in South Africa by the Financial Sector Conduct Authority (FSCA) with a regulatory license number FSP 44806, the broker's provided services are not within the scope of regulation.
However, the situation in Saint Vincent and the Grenadines is more complicated. According to the Financial Services Authority (SVGFSA) regulations, although a company named Saracen Inc has registered with registration number 26306, the SVGFSA explicitly states it does not "regulate, monitor, supervise, or license" business companies (BC) engaged in forex trading or brokerage practices.
The financial derivatives trading business of Saracen Markets in Saint Vincent and the Grenadines is not effectively regulated by the local Financial Services Authority. Investors should pay special attention to its regulatory status when considering the broker's services and understand the potential risks associated with using an unregulated broker.
Trading Products and Services：
Saracen Markets offers over 35 currency pairs, including major, minor, and exotic pairs, as well as more than 15 CFD products, including gold, silver, stock indices, crude oil, and other commodities. Customers can trade major global currency pairs, precious metals such as gold and silver, and energy commodities including Brent crude and West Texas Intermediate crude oil. Furthermore, Saracen Markets also offers a variety of stock index trading. For traders looking for high-risk, high-reward investments, the platform provides trading opportunities in major cryptocurrencies like Bitcoin and Ethereum, allowing investors to seek value in rapidly changing markets.
Trading Software:
The broker provides the MetaTrader 4 (MT4) trading platform, a popular software for trading and analysis in forex and other financial markets. Traders can access these products through the MT4 platform, which supports web and mobile versions, offering a flexible trading experience and powerful analysis tools. The MT4 trading platform is available for download on both mobile and PC devices.
Account Types：
Saracen Markets offers two main types of accounts: Pro accounts and VIP accounts. The Pro account is suitable for all traders, with a minimum deposit requirement of $10, offering leverage up to 1:2000, zero commission, and is applicable for forex, commodities, and indices trading. The VIP account offers floating spreads starting from 0.0 pips, leverage up to 1:500, applicable to a wider range of trading tools, including forex, commodities, indices, stocks, and cryptocurrencies, but with a commission of $5 per lot.
Promotions and Bonuses：
Saracen Markets offers various promotions and bonus schemes to clients, including no-deposit bonuses and deposit bonuses. For example, new clients can get a free $5 no-deposit bonus, plus a 30% bonus on each deposit.
Risks and Evaluation：
Trading forex and CFDs is a highly risky activity that may not be suitable for all investors. The high leverage ratio offered by Saracen Markets increases the possibility of high returns but also increases the potential for high risks. Therefore, traders should carefully consider their investment objectives, experience level, and risk tolerance when choosing to trade on the Saracen Markets platform.
Conclusion:
Saracen Markets is a broker established in Saint Vincent and the Grenadines, offering trading services in forex, commodities, indices, options, cryptocurrencies, and more, but the broker's related services are not effectively regulated. Investors should be cautious about Saracen Markets to avoid potential loss of personal assets.
Currently, Saracen Markets is marked as "Unregulated" on Traderknows.
