Is SapphireMarkets legit?
Sapphire Markets is a brand new broker offering crypto, Forex and stocks. So far there isn’t much feedback regarding Sapphire Markets as they are new to the market and may or may not have started scamming clients yet. If you have deposited money with Sapphire Markets and you suspect that they are not being honest with you, it’s probably because they are scamming you.
Many regulated brokers, unregulated companies and investment firms have been found to be scams. Under many circumstances there are avenues in place that are there to protect individuals and help them to get their money back. If the broker is acting in a suspect manner and claims to be regulated make sure you read this.
If you lost money to SapphireMarkets, we can let you know if it’s possible to recover your money.
Invest with a regulated broker. Check out our review of Fortrade.
Is SapphireMarkets a scam?
Despite what any SapphireMarkets review has told you, SapphireMarkets is a suspected scam. We don’t recommend trading with them. If you are already trading with SapphireMarkets we recommend you immediately cease depositing any amount of funds with them, in particular if they are asking for a fee to withdraw your money. DO NOT PAY IT.
The Sapphire Markets Scam
Sapphire Markets is most likely a fly by night boiler-room scam. Having reviewed 1000’s of trading websites, we can tell you that this website checks off all of the scam boxes. Let’s go through them one by one.
Many scams make fake addresses for their scam websites, Sapphire Markets saved us the time of verifying that their address is fake by simply not making one up. There is no real address for Sapphire Markets because if they listed one, it would only be a matter of time before the police showed up there.
Sapphire Markets uses the MetaTrader 5. The MT5 is a favorite amongst scam brokers as it is easily licensed through their white label options. On the Sapphire Markets website you can see a link to the MT5 app for both Android and Apple mobile devices.
When clicking either of the app links you are taken to either the Google Play Store or the App Store for Apple where you can download to MT5 app from the MT5 site. To be clear Sapphire Markets does not have any proprietary software and at this stage we can’t even confirm that the MT5 is licensed to them.
As more and more reports become confirmed, it will become abundantly clear if Sapphire Markets is a full blown crypto trading scam. In our experience if the broker is unlicensed and unregulated and it’s made it’s way onto this list, the broker is 99% a scam.
The Sapphire Markets Website
What’s interesting about the Sapphire Markets website is that it does have a clean design and not too many spelling errors. It does have the generic wording that most crypto scams have but at the same time it looks like it was done with larger scale usage intended. This is of course concerning as the website is the main tool that crypto scammers use to deceive their clients with. The more professional the scammer appears, the quicker and easier their victims fall for their scheme. We hope you are reading this Sapphire Markets review before having traded with the company.
How old is SapphireMarkets.com?
The Sapphire Markets domain, sapphiremarkets.com was registered on May 25th, 2021. This means the site itself is just over three months old at the time of this review. It’s also interesting to note that the site was registered for only one year. This is often an indicator that the owners of the site don’t plan on having it around for very long. This is a red flag for any company but even more so in the case of a company that’s offering financial services. This is yet another indicator that Sapphire Markets is a scam.
Scam Website: sapphiremarkets.com
Is SapphireMarkets a regulated broker?
Should I trust an Offshore Broker?
As a matter of practice, one should not trust offshore brokers. Practically all offshore brokers are either Forex scams or Crypto trading scams. In the event that there is an offshore broker that is honest would be the exception that proves the rule. The reason for this is because reliable regulatory bodies such as the FCA and ASIC will not give regulation to these companies. Offshore brokers therefor do not have anyone to hold them accountable. In most cases this is the reason that the company decided to register offshore in the first place.
Looking for a regulated broker? Check out our Fortrade Review to see if they’re right for you.
If SapphireMarkets has done anything similar to the below items, you are most likely being scammed by SapphireMarkets.
Legal Signs of a Scam
- The company or broker is not regulated.
- The company or broker is regulated by a foreign regulatory body that is not trustworthy.
- The company is regulated by CySEC. (this is not a sure sign that the company is a scam however many CySec regulated companies turned out to be scams)
- The company has had its license suspended.
Contact us by submitting your information in the form on the page. We’ll let you know as soon as possible how you can get your money back.
Behavioral Signs of a Scam
- The broker has been overly pushy in getting you to deposit your money.
- The broker does not react positively when you ask for a withdrawal.
- The broker does not allow you to withdraw your money.
- The broker has offered you or pushed you to take a bonus.
- The broker has logged into your personal computer.
- The broker is charging you to withdraw your funds.
- Trades have been placed without your consent.
- The company withdrew funds from your account or charged your credit card without permission
- The broker asked for a picture of the front and back of your credit card to be sent by email.
- The broker asked for your government form of ID to be sent in an email or on the website.
- The broker told you to place a trade and then you immediately after lost all or most of your money.
Locations that scam brokers are often found in.
If the broker that you’re dealing with is located in any of the below locations it is reason for concern, as these areas are notorious for hosting Forex scams as well as Crypto and Binary Options scams.
Let us know right away if any of the following is true about your broker.
- The broker is located in Saint Vincent and the Grenadines
- The broker is located in Belize.
- The broker is located in the Commonwealth of Dominica
- The broker is located in the Cook Islands.
- The broker is located in The Marshall Islands.
- The broker is located in Mauritius.
- The broker is located in Seychelles
- The broker is located in Vanuatu.
Know your rights and get your money back. By filling out your information, we’ll be able to advise you right away.
If you are looking for a broker that you can trade with and feel safe with because of regulatory protection, check out our latest review of Fortrade.
Fortrade is regulated by the FCA, ASIC and the IIROC in Canada.
Disclaimer: It is not always possible to recover lost funds. Many cases of recovery scams have been reported where the victim is guaranteed to get their money back. We can assess your case and advise you right away if it’s possible to recover your money. If it is possible we can make a recommendation as to how to go about the process.