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Savexa review
By
2 mins read
Overview
Our 5-step process of verification and evaluation – How do we obtain information?
General inspection – 30%
Trading experience – 30%
Technical audit – 20%
Collective experience from collaborations with the broker – 10%
Interviews with real traders – 10%
See the entire process here.
Pros
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Extensive range of tradable instruments: With over 160 CFD instruments available, including stocks, forex, indices, commodities, metals, and cryptocurrencies, traders have ample options to diversify their investment portfolio.
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Commission-free trading: There are no commissions on standard trades as the broker earns from spreads, which are also very competitive (starting ~0.9 pips). This transparent fee model means lower and straightforward costs for traders.
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24/7 Multilingual Customer Support: Customer support is accessible 24/7 in four languages to help traders access support in their preferred language.
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Learning Materials and Knowledgebase: With a wealth of video lectures and e-book resources on the platform, it is easy for new traders to learn from basic concepts of trading to advanced strategies. The broker also has an active newsletter to update traders on market movements and opportunities.
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Proprietary WebTrader Platform: Savexa’s proprietary WebTrader platform includes advanced charting with 30+ technical indicators, real-time price alerts, and integration of Trading Central analytics.
Cons
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Offshore Regulation: Savexa is regulated in Mwali (Comoros) instead of a tier-1 regulatory jurisdiction. The broker is offshore regulated which means the investors do not get the tier-1 investor protection features.
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Lack of MetaTrader Platforms: Savexa does not offer the popular MetaTrader 4 or 5. Many seasoned brokers prefer using MetaTrader for their trades instead of WebTrader.
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Limited Advanced Strategies: The broker does not allow advanced strategies like scalping and arbitrage trading. Lack of MetaTrader further means copy trading and auto trading are absent as well.
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High Inactivity Fees: Like most brokers, Savexa also has inactivity fees that apply when your account stays dormant for a long time. If your account stays dormant for a long time, these fees can stack up to a staggering €500.
General details
Introduction
Savexa is a new CFD broker that just started operations in 2024. The company is registered and regulated in Comoros. Operating under Trade Tide Ltd. The broker is regulated in the island of Comoros and regulated by MISA (license number: BFX2024065). Despite being regulated by an offshore regulation, Savexa has segregated funds which means that your funds will be protected even in the case of broker’s bankruptcy.
Savexa offers traders with the offerings you get from many great brokers. You get low spreads, high leverage, negative balance protection, and proprietary WebTrader platform to trade with 160+ CFDs.
Besides regulations and standard features, Savexa supports its customers with a detailed knowledge base, multi-channel and multilingual customer support over phone, email, and live chat. And if you like to find answers yourself, the massive knowledge base can be really helpful.
Supported Countries
When you are looking for a new broker, it is highly advisable to see if the broker supports customers from your country. Due to many factors like international laws, local regulations, and licensing, most brokers have a list of countries where they do not offer services. A more convenient approach to know the availability of a broker in your country is to find their list of restricted countries.
Savexa does not offer its services to the residents of the US, Canada, Russia, Belarus, Europe, the UK, Iran, Iraq, and North Korea. The company offers its services mainly to the residents of Asia, Africa, and other regions.
Average Customer Rating
At TopBrokers, we have a set criteria to test different brokers. When writing broker reviews, we also include how other traders like you have rated a broker. Based on the 18 reviews (at the time of writing this article), Savexa has a solid rating of 4.3 out of 5 on Trustpilot.
Types of Trading Accounts on Savexa
Savexa offers 5 types of trading accounts named Classic, Silver, Gold, Platinum, and VIP. The main features of these accounts are mostly the same with the exceptions being the Swap discount and spreads. The standard features that stay the same are 1:400 leverage, 160 CFDs, margin call level at 100%, and stop-out level at 20%.
Classic
The classic account is great for beginners as it has all the offered features with the exception of swap discounts. Another difference between this classic account and others is the fact that it has the highest spreads. For example, the spreads on major currency pairs on classic accounts are 2.5 pips.
Silver Account
Silver account is a tier up from the classic account. The spread on this account is the same as the classic account but this one includes swap discounts.
Gold Account
The spreads on the gold account are lower than classic and silver starting at 1.8 pips. This account is more suited for traders with some experience.
Platinum Account
Platinum account is the second most premium account from Savexa with the spreads for major pairs at 1.4 pips – almost half compared to the classic account.
VIP Account
A VIP account is best suited for high-volume traders. The spreads on this account are 0.9 pips only.
Tradable Assets
A wide range of CFDs enables traders to explore more options and expand their portfolio. The tradable instruments include:
- Forex pairs
- Commodities
- Indices
- Metals
- Popular Stocks
- Cryptocurrencies
Savexa’s Leverage
Savexa’s leverage is generally higher than most brokers. The maximum leverage on forex pairs 1:400. If you are trading commodities or indices, leverage is 1:200. For stocks and cryptocurrencies, the max leverage value is 1:5. Leverage on crypto and stocks is lower because of the volatile nature of the market.
Trader Education
Most brokers usually have a blog section with a high level overview of trading. But Savexa takes multiple steps ahead by offering a comprehensive knowledge base. You can find useful resources whether you are new to trading or already a seasoned veteran. For example, new traders can look up trading terminologies from the Glossary section. Whereas a skilled trader can further hone their skills by learning new strategies from the courses on Education section.
Besides different levels of expertise taught in these courses, you also get to choose the medium of learning. For example, if you are more comfortable learning things on your own, their ebooks can be really helpful. Otherwise, the video lectures can be really helpful.
Market Education
For market education, Savexa has an Economic Calendar and Trading Central Analysis in the platform. Trading Central has been empowering customers for a long time. By analyzing the insights from these advanced tools, new traders can have a better view of markets potentially helping them make more profitable trades.
These are great additions that most other brokers do not generally offer. When trading with Savexa, it is highly advisable to benefit from these trading features.
Free Demo Account
Reading about trading or taking courses on it is one thing but the real expertise comes with practice. But before you start investing with your own capital, you can get hands-on trading experience with demo accounts. By applying what you learn with real-like trading environment, you can be more prepared to trade in actual markets. When you are confident enough to trade in real markets, you can make the transition and have better chances at success.
Customer Service
Despite being a broker in early years of operations, Savexa is offering great customer service. The customer is not only multilingual but also available 24/7. In other words, you can chat with customer service in your desired language and your desired time. The available languages for customer service are best suited for Asian customers as the company offers support in Korean, Japanese, Hindi, and English. Support in Korean and Japanese is generally rare from brokers.
You can reach the customer service via live chat, email, and phone. Drop an email at [email protected] or call them at +447822107974.
Deposits and Withdrawal Methods
Knowing the deposit and withdrawal methods is crucial. If your broker offers withdrawal and sit options you generally employ, trading with that broker is more convenient. Savexa offers the usual deposit options you see with most brokers.
Deposit Options
The following are the deposit options available with Savexa:
- Credit Cards (Master, Visa, etc.)
- Debit Cards (Master, Visa, etc.)
- APMs
Withdrawal Options
The following are the withdrawal options:
- Credit Cards
- E-Wallets
- Wire Transfers
It is important to note that to withdraw money, your amount should be over $10 for card transfers and over $100 for wire transfer.
One thing you should keep in mind is that Savexa does not offer same day withdrawals. This means you should plan in advance when thinking about withdrawing your funds as the company can take multiple days in transferring funds.
Customer Protection – Segregated Accounts
One thing that scares most traders when it comes to trading with unregulated or offshore regulated brokers is the security of funds. It is because in an event of a broker’s bankruptcy, trader’s are at a risk of losing their funds. According to the company, Savexa keeps the customer funds in segregated accounts. This is generally a feature you see with most tier-1 regulated brokers. But getting this guarantee from the company gives some peace of mind to the traders.
Company Details
The corporate address of the company (Bonovo Road, Fomboni, Mohéli) and the license information are transparently provided on Savexa’s website, which is a good sign of openness.
Savexa works under the name of Trade Tide Ltd. From a structural perspective, Savexa is not a publicly listed company, which means less public financial disclosure compared to listed brokers. However, MISA regulation would require the company to maintain a certain capital adequacy and conduct periodic audits. The license number (BFX2024065) provided can be cross-checked with MISA’s official website.
Conclusion
All things considered Savexa is a solid broker with great trading features and an extensive range of trading instruments. The company is focused on trader education, providing courses and e-books on a wide range of topics. Additional features aside, Savexa checks all boxes in terms of fundamental requirements like competitive spreads, high leverage, and a wide range of trading accounts. All things considered, Savexa can be a good broker to trade with.
+447822107974
Accounts
Types of Trading Accounts on Savexa
Savexa offers 5 types of trading accounts named Classic, Silver, Gold, Platinum, and VIP. The main features of these accounts are mostly the same with the exceptions being the Swap discount and spreads. The standard features that stay the same are 1:400 leverage, 160 CFDs, margin call level at 100%, and stop-out level at 20%.
Classic
The classic account is great for beginners as it has all the offered features with the exception of swap discounts. Another difference between this classic account and others is the fact that it has the highest spreads. For example, the spreads on major currency pairs on classic accounts are 2.5 pips.
Silver Account
Silver account is a tier up from the classic account. The spread on this account is the same as the classic account but this one includes swap discounts.
Gold Account
The spreads on the gold account are lower than classic and silver starting at 1.8 pips. This account is more suited for traders with some experience.
Platinum Account
Platinum account is the second most premium account from Savexa with the spreads for major pairs at 1.4 pips – almost half compared to the classic account.
VIP Account
A VIP account is best suited for high-volume traders. The spreads on this account are 0.9 pips only.
Tradable instruments
A wide range of CFDs enables traders to explore more options and expand their portfolio. The tradable instruments include:
- Forex pairs
- Commodities
- Indices
- Metals
- Popular Stocks
- Cryptocurrencies
Frequently asked questions
Find the right answer to your question below:
Savexa is a MISA regulated broker with a physical address in the island of Comoros. The broker is a legitimate entity and does not seem like a scam.
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Forex.com Best Trading PlatformsStart trading73%-77% of retail investor accounts lose money when trading CFDs with this provider.
Savexa compared with alternative brokers
- Overall verdict
- Trading
- Minimum deposit
- Maximum leverage
- Fees
- Withdrawal fee
- Deposit fee
- Safety
- Top-tier regulators
- Investor protection
