Is Safeforex a licensed broker

By Anonymous2256, from South Africa, February 25, 2020 at 12:35 PM

Someone wanted to invest money on my behalf at I don’t feel confident investing in that site. It says it is Cysec regulated with Licence Number: 092/08 On Cysec, it is supposedly registered under Safecap investments, but is not an approved domain on Cysec. Is Safeforex a licensed broker or pretending to be licensed? Thank you.

Answer: Hi Anonymous2256,

You are totally right, Safeforex is not safe at all. It looks like the broker provides false regulatory details and wants to be associated with the CySEC-regulated entity. Since Safeforex is not mentioned as one of the domains of Safecap Investments Ltd, we would recommend to stay away from it as it may be involved in scam.

You can choose from the list of the CySEC Regulated Forex Brokers.

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