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SAFUMAX -

Score

2.21 /10
Danger

SAFUMAX

Hong Kong

5-10 years

Suspicious Regulatory License

New Zealand Financial Service Corporate Revoked

Suspicious Overrun

High potential risk

http://www.safumax.com/en/index.php

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Comparison

Quantity 4

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.52

Risk Management Index0.00

Software Index8.22

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

SAFUMAX GROUP LIMITED

Company Abbreviation

SAFUMAX

Platform registered country and region

Hong Kong

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 4
Previous Detection : 2024-11-10
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • New ZealandFSPR (license number: 327266) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

Exposure

4 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

Scam

The teacher on Weibo was a fraudster, whose account was sealed.I have no idea but call the police since the customer service was out of contact.

QINGQING83109
2019-11-22 22:58
Unable to Withdraw

The customer service doesn’t approve my application for withdrawal

It has been for the better part of a month. The customer service said the withdrawals are disabled now because of system upgrade. I wonder that the transfers should be suspended because of the system upgrade?

FX2883727290
2020-11-27 14:24
Others

Revoke traders' profitable orders without permission

XAU/USD slumped by $115 on the evening of October 9. The trader opened sell with stop limit. Each order was sold at the stop limit price. And we can trade normally at that night in SAFUMAX. While SAFUMAX revoked all the orders on the grounds of abnormal trade the nest afternoon, resulting that traders' accounts became negative. How can we trust such platform which shinks responsibility? We can't make money.

FX3637562261
2020-11-11 12:04
Scam

Losses of nearly $1300~$2000 caused by teacher’s deliberate operation within one and half week.

I knew the teacher through Weibo,who compulsory asked me to trade in this platform and deposit 15000 RMB.Then I deposited 10000 RMB for trading,placing 5 lots for the first order.Though having some doubts,I continued.Eventually,I made a loss.The teacher apologized because of the bad beginning.After profiting a little on the third order of crude oil,I made constant losses.Then the teacher recommended another platform,at which,I realized that it was a fraud platform!The customer service never answer the call!

QINGQING83109
2019-11-04 09:57
SAFUMAX · Company summary

Note: SAFUMAX's official website: https://www.safumax.com/ is currently inaccessible normally.

SAFUMAX Review Summary
Founded2015
Registered Country/RegionChina Hong Kong
RegulationFSPR (Revoked)
Market InstrumentsForex, Indices, Commodities, and Digital Currencies
Demo Account/
LeverageUp to 1:100
Spread6 pips
Trading PlatformsMT4
Minimum Deposit/
Customer SupportPhone: 85251283808
Email: cs@safumax.com
Address: 6c Morrin Road SainT Johns Auckland

Registered in 2015, SAFUMAX is an unregulated brokerage company based in Hong Kong. It claims to offer Forex, Indices, Commodities, and Digital Currencies. However, its license has already been revoked.

SAFUMAX's homepage

Pros and Cons

ProsCons
/Non-functional website
Revoked license
Lack of transparency
Limited info on trading fees

Is SAFUMAX Legit?

At present, SAFUMAX's license under the Financial Service Providers Register (FSPR) has been revoked. Its domain was registered on Oct 28, 2015, and the current status is “client Transfer Prohibited”. Please pay high attention to the safety of your funds if you choose this broker.

Revoked FSPR license

What Can I Trade on SAFUMAX?

SAFUMAX claims to offer Forex, Indices, Commodities, and Digital Currencies.

Tradable InstrumentsSupported
Forex✔
CFDs❌
Commodities✔
Indices✔
Cryptocurrencies✔
Shares❌
ETFs❌
Bonds❌
Mutual Funds❌
What Can I Trade on SAFUMAX?

Account Type/Leverage/Spread

SAFUMAX only provides a single account type.

Trading AccountMin. DepositMax. LeverageSpread
Standard/1:1006 pips, fixed + $50 /lot

Trading Platform

SAFUMAX claims to provide MT4 platform.

MT4

User Reviews

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User comment

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Comments

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dygyduieyh
more than one year
As a user of SAFUMAX, I have mixed feelings. I must acknowledge their trading system is highly intuitive and user-friendly. However, I was left disappointed when my successful trades were revoked the next day on the grounds of being labeled as 'abnormal'. This situation resulted in my account balance going into negative. Though the platform provides all the necessary tools, this incident has raised concerns about its reliability. How can a platform be trusted when it shrinks responsibility like this? I worry about investing more time and resources into SAFUMAX.
As a user of SAFUMAX, I have mixed feelings. I must acknowledge their trading system is highly intuitive and user-friendly. However, I was left disappointed when my successful trades were revoked the next day on the grounds of being labeled as 'abnormal'. This situation resulted in my account balance going into negative. Though the platform provides all the necessary tools, this incident has raised concerns about its reliability. How can a platform be trusted when it shrinks responsibility like this? I worry about investing more time and resources into SAFUMAX.
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2023-12-19 19:53
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