SaracenMarkets Forex broker review — Everything you need to know

SaracenMarkets is the company’s trade name and website name, which operates via several companies. The broker offers several trading accounts and access to diverse markets via advanced trading platforms.

In this unbiased analysis of SaracenMarkets, we will assess its safety, trading costs, leverage, platforms, support options, and more.

SaracenMarkets Overview of the website

The website of Saracen Markets is professionally done. It has a slightly outdated design but is responsive, and navigation is very simple. The website is very well-ordered and provides important details about the broker’s trading conditions and specs. This is crucial and allows users to see all the specs before signing up. There is no live chat plugin offered on the main website, which is a drawback for this broker. The website is mobile-friendly, which is crucial for modern traders.

Overall, the website of Saracen broker is satisfactory as it has some things to improve, but mostly offers all important details about trading conditions.

Saracen Markets safety and licenses

When it comes to licenses, the broker has acquired several licenses from well-known regulators. SaracenMarkets was launched in 2021, giving it a decent experience in the online trading industry. It quickly became regulated and currently operates under two licenses:

• SARACEN MARKETS (PTY) LTD – The Financial Sector Conduct Authority (FSCA)
• SARACEN MARKETS LIMITED – The Financial Services Commission, Mauritius

As a well-regulated forex and CFDs broker, Saracen Markets keeps client funds in segregated bank accounts, ensuring that client money stays safe. This is an important policy for trader capital safety.

Saracen Markets does not offer true negative balance protection. Their Risk Disclosure Notice states that if, after liquidating positions, your cash balance remains negative, you are liable for that shortfall. This is a major drawback for this broker and makes it very unattractive for retail traders.

SaracenMarkets Accounts Reviewed

Saracen Markets offers two trading account types: Pro and VIP. Both of these accounts are also provided in Islamic variations. Despite their names, the minimum deposits are actually very low on both of these accounts, starting from just 10 dollars. This makes them accessible to almost all traders across all experience and budgets.

SaracenMarkets Pro Account

The pro trading account by Saracen Markets comes with the following trading specs:

• Minimum deposit – 10 USD
• Maximum leverage – 1:2000
• Spreads – From 1.6 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

The broker allows traders to use Expert Advisors for automated trading systems.

SaracenMarkets VIP Account

The conditions on the VIP account are more attractive in terms of spreads, but commission applies:

• Minimum deposit – 10 USD
• Maximum leverage – 1:500
• Spreads – From 0.0 pips
• Commissions – 5 USD per lot per side
• Minimum lot size – 0.01 lots

As we can see, the conditions are more competitive on VIP accounts. However, the commissions are still more expensive than the industry standard, and spreads are expensive on the Pro account.

Deposit and withdrawal options at SaracenMarkets

The broker does a very good job of providing all the important information about deposits and, what’s more important, profit withdrawals. Plenty of different payment methods are supported for both funding and withdrawals, including BetterEFT, AraniPay, WalaoPay, PaymentAsia, SurePay, and B2BinPAY. Some of these payments are instant on both deposits and withdrawals. There are no fees charged on transactions, which is truly competitive.

 SaracenMarkets Assets — What can you trade?

Saracen Markets is a multi-asset forex broker that enables access to forex pairs, indices, equities, and cryptos. Despite these many instruments, the broker does not offer access to commodities such as metals and energies, which is a serious drawback. Leverage is very high, and trading costs are mostly expensive.

Trading platforms of SaracenMarkets

Saracen Markets trading platforms are advanced MetaTrader 4 and MT5 platforms. The broker allows traders to use Expert Advisors (EAs) and custom indicators, which is very flexible and competitive. Mobile trading is available via MT4 and 5 mobile apps, accessible on both iOS and Android mobile devices. WebTrader variants are also available to trade directly from web browsers.

Education at SaracenMarkets

The broker offers limited education. However, there are plenty of market analyses and insights offered, which are useful for beginners. The broker offers news and a blog where market analysis is provided for important events in the financial trading world. There is a free economic calendar as well.

SaracenMarkets Customer Support

Customer support of Saracen Markets includes email and hotline options. There is no live chat, which is a serious drawback. Live chat is the fastest and cheapest of all support options. The website is mobile-friendly. Saracen Markets is not a multilingual broker as it only offers its services in English.

SaracenMarkets bonuses and promotions

The broker excels in providing various bonuses. There are $990 Rewards, $10 No Deposit Bonus, 100% deposit bonus, a 30% deposit bonus, and various cashbacks. With these many bonuses, both beginner and seasoned traders can catch attractive deals, which incentivize them to use Saracen Markets. The 10 USD no deposit bonus is also very attractive.

Is SaracenMarkets your broker? Final verdict

SaracenMarkets is a regulated forex and CFDs broker with very low deposit requirements, high leverage, and a wide range of payment options. However, the broker lacks a negative balance protection policy, live chat support, and has relatively high trading costs. While its bonuses are attractive, retail traders should consider whether their strategies can survive the high trading costs of Saracen Markets accounts.

FAQs on SaracenMarkets broker

Where is SaracenMarkets based?

Saracen Markets is registered and regulated in South Africa (FSCA regulated) and Mauritius (FSC regulated).

Can you withdraw from SaracenMarkets?

Yes, there are multiple payment methods available, and the broker allows fee-free instant withdrawals.