Read Our SafeCaps Review and Avoid This Scam Broker

SafeCaps is a scam broker that only wants to steal your money. They are unregulated and use dangerous software to empty your bank account. Read about all the dangers clients encounter with this scammer in our SafeCaps Review, and stay away from them. Let’s start.

License for SafeCaps and Security of Funds

SafeCaps willingly offers where they are registered, and the location is all you need to know. They are headquartered in SVG, which means they are in no way regulated!

St. Vincent and the Grenadines is known as a scam haven, and there is a reason why you can be sure the brokers from that area are no good.

This small Caribbean country provides financial regulation but does NOT issue forex trading licenses. This way, whenever you see a broker based in SVG, you can know they are unregulated and are extremely dangerous, as a result.

If you want to invest with a broker, always look for the ones that are 100% regulated and that are under the jurisdiction of strong regulatory bodies like FINMA, FCA, NFA, and others.

When you trade with unregulated brokers, no one can protect your money. They are working without any legal supervision and they cannot be held accountable for the money they steal from you.

Trading Platform Available at SafeCaps

SafeCaps clients can trade on a simple WebTrader. As you probably know, web traders are usually not viable platforms for serious traders since they do not give you the adequate functionality you need for trading.

In most cases, you get only the basic tools, charts and graphs, which are nearly useless. And this is also one of the ways you know this broker does not care for their clients and only looks to steal their money.

Web traders are far inferior compared to MT4 and MT5, which have been the industry standard ever since they came out. If you get into trading, try to find a broker that offers these platforms.

Broker is Using AnyDesk

We are about to say something critical, so please carefully read this section! 

When we scrolled to the end of this fraudster’s website, we saw they use AnyDesk. Thus, we are sounding the alarm, do NOT approach this broker! AnyDesk is a remote desktop software allowing users to access their PCs wherever they are.

If you install this application and give your PCs ID details to the scammers, they will be able to infiltrate your computer and access all your files and other sensitive data.

Once scammers get in, you cannot do anything about it since you are locked outside and cannot regain control of your PC until the scammers exit. Swindlers use AnyDesk to empty entire bank accounts, and victims cannot take legal action either, as they usually voluntarily give PC ID information to scammers.

Options for Deposit/Withdrawal

SafeCaps did not provide any readily-available information on their website about accepted payment methods. Should clients want to know more, they must verify your account first. Digging deeper, we found that traders can supposedly fund their accounts via credit cards, wire transfers and ePayment systems.

However, this scammer charges extremely high withdrawal fees, including a €50 fee for wire transfers, €35 for card payments and €20 for ePayments. We know from their accounts section that the minimum deposit is a whopping €5,000, and you should not trust any broker that asks this much for a minimal investment.

SafeCaps Account Types

SafeCaps gives its potential customers three account options to choose from:

• Standard – €5,000
• Premium – €25,000
• Business – €100,000

Each account has a packed set of features, notably negative balance protection, SSL security standard and robot trading. But all these benefits cannot cover the lack of a license and the alarming use of remote desktop access software.

How the Scam Is Executed

As we mentioned previously, SafeCaps uses AnyDesk to infiltrate their victims’ PCs and access their bank accounts. This is not an isolated case in the world of forex scams, so here are some pointers to spot them in time. Fraudulent brokers can try calling you to convince you to install either AnyDesk or TeamViewer as those are two identical apps.

There is absolutely no reason why your broker would need you to have these programs on your computer. So when they ask you to get it, you should just cease all contact with the brokers.

Sadly, if they steal your money by using this method, we cannot help you. In most situations, people unwittingly hand over control to their computers voluntarily, and there is nothing anyone can do to help them get their money back.

SafeCaps Summary

To sum up, SafeCaps is an unregulated broker that uses shady tactics to get your money. You cannot benefit from investing with this scammer, and we strongly advise you against doing business with them.

If you want to try trading for the first time or switch to another broker, choose one from the list above or contact us for advice. We offer free consultations and can work together with you to find the perfect broker.

FAQs About SafeCaps Broker