Wikilix
Contract reading

What SaracenMarkets legally published, but does not want you to read

Every clause below is published by SaracenMarkets itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Saracen Inc

sole discretionprofit voidingbonus lockforum waiverkyc freezemisleading claimoffshore jurisdictionwithdrawalscomplaintshidden fee

Saracen Inc in St Vincent and the Grenadines is who you sign with. The licence shown on every page belongs to a different company in South Africa. The contract lets it freeze or confiscate funds, void a contract when it owes you money, and take one account's losses out of another. The marketing promises zero fees, no risk and no conflict of interest, and the contract says otherwise on all three.

Back to SaracenMarkets

Contract risk

Money at risk
8.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
18
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
11
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
4

How the 18 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning10
Notice1

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2 working daysWithdrawal limit. Jump to the clause this comes from.The withdrawal clock starts only when the broker approvesCritical20Profit at risk. Jump to the clause this comes from.Losses on one account can be taken from another account$20Bonus requirement. Jump to the clause this comes from.The free ten dollars caps your profit at twenty3 working daysAccount limit. Jump to the clause this comes from.Your contract changes when a web page changes

What the documents say

18 clauses worth knowing about, worst first, each quoted from SaracenMarkets's own files

01

A line at the top of every page calls Saracen Markets (PTY) LTD an authorised and regulated entity, and the footer gives its South African licence. Your account is with Saracen Inc in St Vincent and the Grenadines, and the site names no regulator for that company.

Why this matters

The South African regulator supervises a company you have no contract with. If Saracen Inc keeps your money, the licence you saw on the way in is not yours to rely on.

Exhibit 1CriticalHarder than usual

This Customer Agreement (hereinafter called the "Agreement") is made by Saracen Inc, providing services under SaracenMarkets trademark, (hereinafter called the "Company")
Clause 1.1 in Customer Agreement, p.2
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026What the contract says, clause 1.1Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), FSCA (South Africa)

Firms licensed by the FCA must make clear to a retail client which legal entity provides the service and what protection comes with it. The FSCA licence on this site belongs to the South African company, and the agreement names the St Vincent company.

SaracenMarkets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

02

Clause 15.1 lists what Saracen Inc may do with or without telling you. Two items sit side by side: it can enforce the contract against you when you owe it money, and treat the contract as void from the start when it owes money to you.

Why this matters

A trade that went your way can be unwound as though it never happened, while a trade that went against you stands. Clause 15.2 lets Saracen Inc reach for that power in its absolute discretion.

Exhibit 2CriticalRarely seen

In addition to any other rights we have under the Agreements, we can do these things, with or without letting you know:
Clause 15.1 in Customer Agreement, p.26
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026The contract can be voided when the broker owes you money (clause 15.1)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Our readingContracts normally void in both directions or in neither. Splitting it by who owes whom means the same event has two outcomes, and the one that pays you is the one that can be erased.

  • Worse together with Exhibit 7Saracen Inc takes that decision itself, and the contract says its determinations cannot be appealed.
03

Saracen Inc promises to send your money within two working days of approving a withdrawal. Nothing in the contract says how long approval may take, and clause 13.13 lets it postpone payment while a payment system is down.

Why this matters

That two day promise costs Saracen Inc nothing until it chooses to start the clock. Until then your money sits with the company and no clause gives you a date.

Exhibit 3CriticalHarder than usual2 working days

The Company holds the responsibility to transfer the Customer's funds to the payment details specified in the withdrawal application within two working days after approval of the withdrawal application in the Client area.
Clause 13.11 in Customer Agreement, p.23
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026The withdrawal clock starts only when the broker approves (clause 13.11)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

What it costsA request made on Monday and approved four weeks later is still paid inside the promised two working days.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must handle a retail client's withdrawal request promptly and cannot leave the timetable open. This contract times payment from its own approval and puts no limit on the approval.

SaracenMarkets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7A refusal is decided by Saracen Inc, and the contract closes off any appeal against that decision.
04

Both bonus pages tell you there is no fear of losing your money. The Risk Disclosure says most retail accounts lose money here, and that you must cover the shortfall if your balance is still negative once your positions are closed.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

You can end a bad day owing Saracen Inc money rather than simply losing what you put in. The page that invited you in says the opposite in six words.

Exhibit 4CriticalHarder than usual

If after closing out all Transactions your cash balance is still negative, you will be liable to cover that shortfall to us.
Quoted in Risk Disclosure Notice, p.5
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026The claim, on Feature card on the $30 deposit bonus landing page, repeated on the $10 no deposit bonus pageVisit this page on the broker's siteDownload the full size image file
Our own capture of saracen.market, taken on Aug 23, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC must give retail clients negative balance protection and must not present a leveraged product as risk free. This site advertises no fear of losing your money on the page that credits the bonus.

SaracenMarkets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

05

Suspect latency arbitrage, which means trading on a delayed price, and Saracen Inc may cancel your trades and close your account without notice. Clause 6.28 lets it freeze or confiscate any funds or profits it treats as arbitrage gains, not only the gains.

Why this matters

Your deposit sits inside the reach of this clause, not just your winnings. Saracen Inc decides on its own whether your trading counted as arbitrage.

Exhibit 5CriticalHarder than usual

In the event of a breach of Clause 6.25, the Company may, in addition to account termination, block the Client’s access to the trading platform and freeze or confiscate any funds or profits deemed to have been obtained through latency arbitrage or similar conduct.
Clause 6.28 in Customer Agreement, p.14
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026Funds and profits can be confiscated for suspected arbitrage (clause 6.28)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 7The clause that takes the money and the clause that blocks the appeal sit four paragraphs apart.

Saracen Inc can unwind a contract that owes you money

Clause 15.1 lets Saracen Inc treat a contract as void from the outset when it owes money to you, and enforce it when you owe money to it. Clause 6.28 lets it freeze or confiscate funds and profits it treats as arbitrage gains. Clause 3.9 lets it take one account's negative balance out of another account it believes is connected to you.

Money already earned1 clause flagged

You may open up to twenty trading accounts. If one goes negative, clause 3.9 lets Saracen Inc cover it from any other account, including an account in someone else's client area, whenever it believes there is a connection to you.

Why this matters

Money you set aside in a separate account is not separate. A belief about a connection is enough, and the contract sets no test for it and gives you no notice.

Exhibit 6CriticalRarely seen20

If the balance of the Customer’s account is negative, the Company shall have the right to pay off without future authorization the negative balance of the account by transferring funds from any other account of the Customer’s Client area or an account of any other Client area, if the Company believes that there is a connection between this Client area and the Customer.
Clause 3.9 in Customer Agreement, p.6
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026Losses on one account can be taken from another account (clause 3.9)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Our readingCross guarantees between accounts belong to commercial lending, where every party signs for the others. Here another person's loss can be taken from your balance on the company's own belief that the two are linked.

  • Worse together with Exhibit 11The bonus terms already treat a shared address, IP address, phone number or utility bill as proof that two accounts are one household.

The company that decides is the company you would appeal to

Clause 6.33 makes Saracen Inc's decisions on prohibited trading final, binding and not subject to review, dispute or appeal. Clause 5.3 gives it the right to decide any claim the agreement does not settle. The rules for bringing a claim sit in section 14 of a Terms of Business document the broker does not publish.

Right to challenge2 clauses flagged

Saracen Inc decides whether your trading broke its rules, and clause 6.33 makes that decision final, binding and not subject to review, dispute or appeal. Where a complaint cannot be settled under the agreement, clause 5.3 gives the company the right to decide.

Why this matters

No independent body is named anywhere in these documents to take your side to. The company holding your money has the last word on whether it was entitled to keep it.

Exhibit 7CriticalHarder than usual

The Client acknowledges and accepts that the Company’s decisions regarding the identification and handling of prohibited trading behaviour shall be final, binding, and not subject to review, dispute, or appeal.
Clause 6.33 in Customer Agreement, p.16
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026The broker judges its own case and bars any appeal (clause 6.33)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client access to an independent complaints scheme whose decision binds the firm. These documents name no external scheme and make the company's own finding final.

SaracenMarkets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Clause 5.1 says how to bring a claim is set out in section 14 of the Terms of Business. That document is not one of the six on the legal documents page, and we could not find it on the site.

Why this matters

The rules for challenging Saracen Inc are the one part of your contract you cannot read before you deposit. Clause 1.2 makes that same unpublished document govern your transactions.

Exhibit 10WarningHarder than usual

Claim issuing regulation and examination procedure are determined in section 14 of the Terms of Business.
Clause 5.1 in Customer Agreement, p.8
Read from the broker's site on Open the reference

Three headline promises the contract does not keep

SaracenMarkets advertises zero fees on every withdrawal method, no fear of losing your money, and no conflict of interest. The contract charges a commission on withdrawal, makes you liable for a negative balance, and describes the firm hedging its own liability to you. The company named as regulated on every page is not the company named in clause 1.1.

Promise against contract1 clause flagged

The funding page is headed secure, fast, reliable and ZERO fee, and every withdrawal method in its table says zero fee. Clause 3.6 says you are charged a commission for the transfer, and clause 13.7 puts all transfer costs on you.

Why this matters

You cannot work out what a withdrawal costs from either source. The page quotes nothing, the contract charges something, and no document gives you the amount.

Exhibit 8WarningHarder than usual

When withdrawing funds from the Client Area, the Customer is charged with a commission for funds transfer.
Clause 3.6 in Customer Agreement, p.5
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026The claim, on Funding Methods page, under the heading Secure, fast, reliable and ZERO fee!Visit this page on the broker's siteDownload the full size image file
Our own capture of saracen.market, taken on Aug 23, 2026What the contract says, clause 3.6Visit this page on the broker's siteDownload the full size image file

Every charge in this contract arrives without a number

Clause 3.6 charges a commission on withdrawal and clause 13.7 adds all transfer costs, and no SaracenMarkets document states either amount. Clause 13.14 adds a further commission if your deposit and withdrawal use different methods. Clause 4.13 changes spreads and overnight swap charges without telling you in advance.

Cost disclosure1 clause flagged

An extra commission applies if you deposit by one method and withdraw by another, and the currency clause lets Saracen Inc waive or defer its own conversion rate at its discretion. Clause 4.13 also changes spreads and overnight swap charges without telling you first.

Why this matters

The two running costs of your trading can move while your positions are open, and the transfer charges have no published figure you could compare with another broker.

Exhibit 9WarningHarder than usual

The Company has the right to charge the Customer with an additional commission if the Customer uses different payment systems to deposit and withdraw funds.
Clause 13.14 in Customer Agreement, p.24
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the cost of a service in cash terms before they use it. This agreement charges for transfers and conversions and publishes no schedule for either.

SaracenMarkets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The free ten dollars pays a maximum of twenty back

The $10 no deposit bonus caps withdrawals at $20, after five standard lots and profit of at least $20. SaracenMarkets can cancel the promotion at any time at its absolute discretion, and clause 1.13 of the contract lets it revoke every trade made with a promotional benefit without giving a reason.

Bonus limits1 clause flagged

The page says the profit earned is yours to keep. The terms below it cap what you may take at $20, and only after five standard lots traded, profit of at least $20, and every position held three minutes or more.

Why this matters

Trade the bonus well and you still take $20 at most. Saracen Inc can cancel the promotion at any time at its absolute discretion, and it decides whether your profit was valid.

Exhibit 11WarningHarder than usual$20

Maximum $20 can be withdrawn and any withdrawal request contrary to the above may result in rejection of the request and/or cancellation of the $10 trading credit.
Quoted in $10 No Deposit Bonus Terms & Conditions
Read from the broker's site on Open the reference

What it costsFive standard lots is $500,000 of currency traded. Turning the $10 credit into $200 of profit still pays you $20.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 0The $10 arrives as trading credit you cannot withdraw or transfer.
5 standard lotsProfit becomes withdrawable once it reaches $20, capped at $20.
Day 30 without activitySaracen Inc cancels the $10 credit.
Day 90The credit reaches the end of its validity.

SaracenMarkets can amend your contract by editing a page

Clause 4.13 makes an amendment effective 3 working days after publication on the site, with no direct notice to you. Clause 1.11 gives the promotion pages the force of an amendment, and those pages say they can change at any time without notice. The AML Policy and the site footer also bar different sets of countries.

Terms that move2 clauses flagged

Saracen Inc can change the agreement by publishing the change on its site, and it takes effect in 3 working days with no direct notice to you. Clause 1.11 treats the promotion sections of the website as an amendment to your contract, and those bonus terms can be rewritten at any time without notice.

Why this matters

Depositing counts as unconditional acceptance under clause 1.9, so you accept terms that can be edited on a page you have no reason to revisit. The contract points to saracen.markets for those rules, and that address refused every request we made.

Exhibit 12WarningHarder than usual3 working days

Any Promo programs and related services which are provided by the Company and presented on its official website https://saracen.markets have their own rules and conditions which are described in the corresponding sections of the official website https://saracen.markets that has a force of an amendment to this document.
Clause 1.11 in Customer Agreement, p.3
Read from the broker's site on Open the reference

The AML Policy bars accounts from thirteen countries, among them Bosnia and Herzegovina, Guyana, Laos, Papua New Guinea and Uganda. The footer of every page names a different set, adding Canada, Sudan and the EEA countries and leaving those five out.

Why this matters

You can read the list on the page you are sent to, open an account, and find the other document bars you. Neither list mentions the other.

Exhibit 13WarningHarder than usual

While we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit The Company from opening accounts originated from the following restricted and/or OFAC sanctioned countries, as well as high risk and non-cooperative jurisdictions: Afghanistan, Bosnia and Herzegovina, Democratic People's Republic of Korea (DPRK), Guyana, Iran, Iraq, Lao People's Democratic Republic, Myanmar, Papua New Guinea, Syria, Uganda, Vanuatu, Yemen.
Clause 7 in Anti-Money Laundering Policy, p.5
Read from the broker's site on Open the reference

Your forum is St Vincent, the broker picks from three

Clause 1.1 settles the agreement where Saracen Inc is registered, in St Vincent and the Grenadines. The Terms and Conditions let SaracenMarkets enforce its terms in the jurisdiction of any affiliate, and the footer names companies in St Vincent, South Africa and Mauritius.

Where you sue1 clause flagged

Clause 1.1 settles your agreement where the company is registered, which is St Vincent and the Grenadines. The Terms and Conditions let SaracenMarkets enforce its terms in the jurisdiction of any affiliate, and it names companies in three countries.

Why this matters

Bringing a claim means bringing it in the Caribbean, whatever country you live in. The same documents give Saracen Inc a choice of three.

Exhibit 17WarningHarder than usual

The Parties agree that providing services and this Agreement are settled at the place, where the Company is registered.
Clause 1.1 in Customer Agreement, p.2
Read from the broker's site on Open the reference

A flagged deposit can freeze the account with no end date

Clause 4.8 lets Saracen Inc block your client area and the funds in it until the circumstances are clarified, and nothing sets a deadline on that. Clause 4.6 lets it close every open position first, without telling you in advance. Withdrawal also depends on verification being complete.

Verification holds1 clause flagged

If a payment provider flags your deposit, or an authority asks questions, Saracen Inc can block your client area and the funds in it until the circumstances are clarified. It can also close all your open positions without telling you first.

Why this matters

No clause puts an end date on that freeze, and no clause gives you a right to be updated. Your positions can be closed at a loss while you wait.

Exhibit 15WarningHarder than usual

The Company has the right to block the Customer’s Client area and his corresponding trading account until the circumstances are clarified.
Clause 4.8 in Customer Agreement, p.7
Read from the broker's site on Open the reference

No document says whether the broker profits when you lose

The About page claims SaracenMarkets has no conflict of interest with its customers. Clause 16.1 describes the firm hedging its liability to you by opening matching positions elsewhere. The Risk Disclosure lets it pay introducing brokers per trade, while clause 6.31.5 treats excessive trading by you as prohibited churning.

Whose side1 clause flagged

The About page says the execution model means SaracenMarkets has no conflict of interest with its customers. Clause 16.1 of the contract describes the company hedging its own liability to you, which is the language of a firm taking the other side of your trade.

Why this matters

No document in the set says whether Saracen Inc profits when you lose. The Risk Disclosure also lets it pay introducing brokers for every trade you make, while your own contract bans you from trading too often.

Exhibit 16WarningHarder than usual

We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market.
Clause 16.1 in Customer Agreement, p.28
Read from the broker's site on Open the reference
Our own capture of saracen.market, taken on Aug 23, 2026What the contract says, clause 16.1Visit this page on the broker's siteDownload the full size image file

Sixty days without a trade puts the account at risk

Clause 2.4 lets Saracen Inc stop maintaining a trading account where no transaction happened within 60 days of opening it. The clause promises no warning, and no clause in the agreement says what happens to money left in the account.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

Make no transaction in the first 60 days after opening and Saracen Inc can stop maintaining your trading account. The clause says nothing about warning you and nothing about what happens to the balance.

Why this matters

You could fund an account, wait for a market you understand, and lose the account for waiting. No clause in the agreement promises the money comes back to you.

Exhibit 14WarningHarder than usual60 days

The Company has the right to terminate maintaining of the trading account in cases within 60 days after it was opened the Customer did not make any transaction.
Clause 2.4 in Customer Agreement, p.4
Read from the broker's site on Open the reference

No segregated client money and no compensation scheme

None of the six SaracenMarkets documents says client money is held separately from the company's own funds, and none names a compensation scheme. The Risk Disclosure warns you may lose your money if a bank holding it becomes insolvent. Clause 13.2 treats payment as complete once funds reach the company's account.

What is missing1 clause flagged

Nothing in these six documents says your money is held separately from the company's own funds. No compensation scheme is named, and the Risk Disclosure warns you may lose your money if a bank holding it fails.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

If Saracen Inc fails, these documents give you nothing to claim against and no fund to claim from.

Exhibit 18NoticeStandard wording

Similarly, you may lose your money in the event of insolvency of the bank, where we or our Liquidity Providers deposit the client funds.
Quoted in Risk Disclosure Notice, p.7
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must hold retail client money in segregated accounts and belong to an investor compensation scheme. Neither appears anywhere in this document set.

SaracenMarkets is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The regulated company named on the site is not the company named in the contract.

Said in public, in English

SARACEN MARKETS (PTY) LTD is licensed and regulated by the Financial Sector Conduct Authority (FSCA) under FSP licence number 44806.

About page footer, repeated on every page of the site under the header line Authorized and Regulated Entities: SARACEN MARKETS (PTY) LTD

In the contract · clause 1.1

This Customer Agreement (hereinafter called the "Agreement") is made by Saracen Inc, providing services under SaracenMarkets trademark, (hereinafter called the "Company")

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of saracen.market

02

The bonus page promises no risk while the Risk Disclosure makes you liable for a shortfall beyond your deposit.

Said in public, in English

No Risk No fear of losing your money

Feature card on the $30 deposit bonus landing page, repeated on the $10 no deposit bonus page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of saracen.market

In the contract

If after closing out all Transactions your cash balance is still negative, you will be liable to cover that shortfall to us.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of saracen.market

03

Every transaction is advertised as free while the contract charges a commission on withdrawal.

Said in public, in English

Besides your security, we ensure every transaction is easy and ZERO charges fees.

Funding Methods page, under the heading Secure, fast, reliable and ZERO fee!

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of saracen.market

In the contract · clause 3.6

When withdrawing funds from the Client Area, the Customer is charged with a commission for funds transfer.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of saracen.market

04

The claim of no conflict of interest sits against a contract that describes the firm hedging its own liability to you.

Said in public, in English

This means SaracenMarkets have no conflict of interest within itself and its customers. No requotes, lightning-quick execution and none dealing desk interference.

Our Mission section of the About page

In the contract · clause 16.1

We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of saracen.market

The documents this reading is based on

11 files, all published by SaracenMarkets. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording SaracenMarkets publishes.

How this reading was done

Every clause above was read out of a document SaracenMarkets publishes itself

This reading was published on .

Documents
9 of 11downloaded from the broker's site, and 9 read in full
Pages opened
49pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded, 1 identical to the copy we hold by fingerprint
Marketing pages
10public pages set against what the contract says

Who the contract is with

Saracen Inc

Saracen Inc is an International Business Company in St Vincent and the Grenadines, and clause 1.1 of the Customer Agreement makes it the company you contract with. The Terms and Conditions page confirms it: SaracenMarkets is its trading name, and it owns and operates the site. The Privacy Policy, AML Policy and Risk Disclosure are issued in its name too. It is not the South African company the site header calls authorised and regulated, and it is not the Mauritius company. The site names a regulator for those two and names none for Saracen Inc.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

All six legal documents sit behind one page and open without an account, which many offshore brokers never manage. Clause 6.19 adds compensation that lifts a negative account back to zero, a protection this contract did not have to give. Clause 5.2 puts a firm five business day deadline on the company to examine a complaint. The Risk Disclosure is unusually detailed on how execution can hurt you, with sections on slippage, gapping, greyed out pricing and inverted spreads. The bonus pages state their lot requirements and withdrawal caps in plain numbers.

A second Customer Agreement PDF sits on the site at a 2021 upload path and we could not open it, so we cannot tell you which of the two files binds your account. The complaints clause sends you to section 14 of a document called the Terms of Business. That document is not among the six on the broker's legal documents page and we could not find it on the site. saracen.markets, the address the contract itself names for the promotion rules that amend it, refused every request, so we read every document on www.saracen.market instead. The older copy of the Privacy Policy was checked by fingerprint only and not read. We did not read the site in Malay, Indonesian, Vietnamese or Chinese, and we could not reach the client area that holds the contract specifications for spreads, swaps and stop out levels.

How to check any of this yourself

Every quote above links to the SaracenMarkets file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document SaracenMarkets publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge SaracenMarkets on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Aug 23, 2026.

If you represent SaracenMarkets and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on SaracenMarkets. Whether its licence is real and current is a separate check on the broker profile.

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