Sapphire Markets Review – Learn More About This Scam Broker

Sapphire Markets LLC is registered in St. Kitts and Nevis in 2021. A bell already rings. Offshore companies, especially in the Caribbean Sea are known for shady businesses. Yet, this broker claims to be regulated there. Which would lead mean a high-security structure.

But if you can trust your investments with this broker, read this Sapphire Markets review.

Sapphire Markets Regulation and Fund Security

In general, scam brokers often choose offshore countries due to loose regulations. Or no regulations at all. This broker claims to be licensed with the FSA of St. Kitts and Nevis. Thus, such an institution doesn’t exist. The main regulator there is FSRC (Financial Services Regulatory Commission). As expected their database was empty upon search of Sapphire Markets broker.

Not to jump to a conclusion too early, we searched elsewhere. But the results were the same. All Tier 1 regulators never provided a license to Sapphire Markets scam broker. For instance, FCA, BaFin, CONSOB or ASIC.

Generally speaking, this means that traders don’t have any protection. No compensation funds are available. No negative balance protection or guaranteed stop-loss. Moreover, this broker doesn’t have transparent Terms & Conditions. So, they adapt to the situation that suits them the most.

Sapphire Markets Trading Platform Overview

The most disappointing part is that this broker offers Meta Trader 5. As the software that leads this industry, everyone trusts it. Therefore, you might think at first glance everything is clean here. However, once you dig deeper you find all irregularities.

Meta Trader 5 is highly favorable because of its advanced features. Numerous indicators and trading tools. A vast of advanced tools like social and copy trading. Not to mention algorithmic trading. All this goes in favor of this broker. But if you can’t withdraw the profits, then it’s a shame. As we can see, Sapphire Markets broker reviews tell you exactly that.

Additionally, MT5 has an amazing mobile app. Even though Apple banned the app, they got it back in their store. So, Android had a slight advantage there for some time. But now everything works perfectly fine. Thus, only with licensed brokers.

Available Account Types Offered at Sapphire Markets

Sapphire Markets broker scam advertises only a few options. Many of them are misleading. But their account types are:

• Standard                   0% commission
• Raw                          0.0 pips
• Prime of Prime         FIX API

Important to realize is that licensed brokers make money through spreads, commissions and fees. Yet, this broker doesn’t want those. Of course, when all your money goes directly into their pockets.

Additionally, this broker doesn’t offer Islamic or Micro accounts. Which many traders find very attractive these days. On top of that, you can’t even use a demo account. This broker may be hiding some of their flaws.

Trading Instruments at Sapphire Markets

All 5 categories are available with Sapphire Markets trading company. You can choose from:

• Forex                        GBP/NOK, AUD/HUF, HKD/NZD
• Commodities            gold, cotton, Brent oil
• Indices                      SPA 45, FRA 40, JPY 225
• Shares                      NVidia, Netflix, American Airlines
• Cryptocurrencies       BCH, BNB, USDT

Another key point is missing trading conditions. Firstly their leverage of 1:500. No Tier 1 regulator would allow such high leverage. Primarily due to the risks of losing all of the money. Another one is going into debt. Unless the broker has negative balance protection. In this case, the broker doesn’t have it. Instead, you can opt for a Tier 1 licensed broker that has many security features.

After all, the broker advertises spreads from 0.1 pips, but no commissions or fees. Thus, we believe that you will face fees the first time you request a withdrawal. With this in mind, you understand now the importance of regulations. No offer or software will make you quick money here. Because all that is fictive and only a marketing trick.

Sapphire Markets Deposit and Withdrawal

As for funding methods, there are several options. Some of them are highly favorable over others. Those are:

• Debit/Credit cards
• Wire transfers
• Crypto transfers

The broker advertises various DeFi funding options. This means that you are using a decentralized entity. Such as cryptocurrency exchanges. So, practically, you are not depositing money into your trading account. You are making a purchase of cryptocurrency that you will send to this scammer. Even if it looks like you are using a card you are not. You are using hardly traceable crypto transfers.

Since the broker is not licensed, they can do whatever they want. But it’s up to you to understand the main flaws of these offshore investment scams. Once you do so, you can make an educated decision. More importantly, you won’t break under pressure.

I Was Scammed by Sapphire Markets – How Can I Get My Money Back?

Many traders think that nobody can stop these swindlers. But sharing your experience is a solution. This way you can prevent these scammers from extorting money from other traders. Moreover, you can hint to regulators and institutions where to investigate.

But first, you should recover the lost funds. Our fund recovery team is at your disposal. Whether it’s a chargeback or we need to trace crypto transactions, we are available. With the latest technology, Cipher trace we can even find your crypto. Don’t hesitate to contact us and book your first consultation. As a matter of fact, it’s free. Get in touch now!

Sapphire Markets Summary

• An offshore unlicensed broker.
• Sapphire Markets lies about its licensing.
• Non-existent withdrawal policy.
• Shady trading conditions.
• Broker promotes risky crypto funding methods.

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