Saracen Markets (Saracenmarkets.com) is a new Forex broker looking to attract clients using a $5 no deposit bonus.

Saracen Markets is also promoting their trading platform by stating that they are the “best Islamic account Forex broker with fastest execution”.

Saracen Markets runs the popular MetaTrade platform and would also like traders to know that typical spreads for their cent and pro accounts start at 1.6 pips.

Leverage is abnormally high as Saracenmarkets.com Forex broker is offering up to 1:2000.

This is the highest we’ve seen in the industry and is synonymous with unlicensed and potentially scam Forex brokers.

Before you accept such kind of leverage for your trading account, beware of the potential losses that come along with over-leveraging your account.

The reason unregulated Forex brokers lure traders using high leverage is because they know most of the traders will lose money, and the loss is a profit that ends up in the pockets of these brokers anyway.

So if you’ve worked hard for your money and would like to invest it without the risk of a loss, I encourage you to consider these trading and investing services.

Saracen Markets Review: their offer

They offer typical financial instrumental like Forex, Stocks, Bonds, Crypto, Metal and Indices for trading.

These instruments are offered as CFDs products with strong emphasis being put on the Islamic trading experience.

Actually Saracen Markets is targeting the Islamic segment of the market or people who do not want to pay swaps or commission.

The broker is also offering both fiat and Crypto accounts.

With MT4 for desktop and mobile, this broker can deliver their services to traders irrespective of their devices.

Is Saracen Markets regulated?

Despite putting up a well-designed website and presenting information in a crisp-clear manner, this broker is still falling short in the regulatory frontline.

This is the biggest disqualifying factor because even when we look at their location, we realize that the broker is situated in the St. Vincent and the Grenadines, an offshore jurisdiction associated with unreputable Forex brokers.

Therefore, it does not come by surprise that the broker is unregulated but still accepting clients into their platform.

Not only is this illegal, but it is also risky for the safety of the client’s money.

There will be no compensation of any kind if the broker goes under.

In addition to this, unregulated Forex brokers tend to scam traders.

Withdrawal requests are never processed and trading conditions can be manipulated in favor of the broker.

Saracen Markets is also not disclosing whether they run STP, ECN or market making model.

Telling us that they offer fast execution is just not helpful at this point.

Should one trade with this broker?

The answer is no, this broker is very new. They started their website in June 2021.

A broker that has no reputation yet is too new to get our endorsement.

Secondly, they are not licensed which means traders’ funds could be in jeopardy.

We can’t risk recommending such a broker to the community.

The Conclusion

They need time to establish and prove to the community that Saracen Markets is not another scam in 2021.

I expect to hear from these guys and if they can actually answer the questions that were raised in this review, we might consider them a potential in the future.

Right now I will not recommend Saracen markets or any of their associated brands (if any).

Thanks for reading.