Clearsave

Clearsave is an online Forex broker that was founded on 7 August 2020, according to our records. The company is registered in Saint Vincent and the Grenadines (SVG), a jurisdiction known for its minimal regulatory oversight of financial services firms. Clearsave operates the website clearsave.io, which serves as its primary point of contact with traders.

Despite being in operation for several years, Clearsave has not publicly disclosed its physical office address or the identities of its management team. This lack of transparency is a common characteristic among brokers registered in offshore jurisdictions and may be a point of concern for traders seeking a regulated and accountable counterparty.

Our review has verified that Clearsave holds no regulatory licences from any recognised financial authority. The registry records show that the firm is not supervised by major regulators such as the FCA, CySEC, ASIC, or the FSC of SVG (which does not actually regulate forex brokers). This absence of regulation means that traders do not have access to standard investor protection schemes, such as compensation funds or dispute resolution mechanisms.

For traders who prioritise safety and regulatory oversight, the lack of licensing is a significant drawback. Unregulated brokers carry elevated risks, including the potential for misappropriation of funds, unfair trading practices, and limited recourse in the event of a dispute. FXCanary advises caution when dealing with any unregulated entity.

Clearsave offers a tiered account structure with seven categories, designed to accommodate traders with different capital levels. The entry-level Basic account requires a minimum deposit of $250 to $1,000, while the Bronze account starts at $1,000 to $3,000, and the Silver account at $3,000 to $7,000. The Gold account requires $7,000 to $15,000, and the Platinum account $15,000 to $25,000. The Diamond account is for deposits of $25,000 to $50,000, and the top-tier Black account requires a minimum deposit of $50,000 or more.

Importantly, the broker does not disclose maximum leverage for any of its account types. This omission is unusual in the forex industry, as leverage is a key differentiator between account tiers. It may indicate that leverage is either fixed across all accounts or that the broker does not wish to publicise its risk parameters. Traders should seek clarity on this point before committing funds.

At the time of writing, Clearsave has not publicly listed the financial instruments it offers. The known facts indicate that the instruments field is marked as '--', meaning no data is available. For a forex broker, this typically includes currency pairs, but may also extend to CFDs on indices, commodities, and cryptocurrencies. Without official confirmation, traders cannot be certain of the tradable asset range.

Similarly, no information is provided regarding the trading platforms available. Most brokers offer MetaTrader 4 or 5, but Clearsave has not stated which platforms it supports. Potential clients are advised to contact the broker directly to obtain details on platforms, execution methods, and order types before opening an account.

Clearsave was registered in Saint Vincent and the Grenadines on 7 August 2020 for a period of one year, with the registration expiring annually unless renewed. The jurisdiction is not a regulator of forex brokers; it merely registers business entities. As such, Clearsave is not subject to ongoing supervision, capital adequacy requirements, or regular audits. This regulatory vacuum places the onus entirely on the trader to perform due diligence.

The company has not provided a physical office address or corporate headquarters location. This lack of transparency makes it difficult for traders to verify the firm's legitimacy or to seek legal recourse if needed. In the event of a dispute, traders would likely have no avenue for complaint through a financial ombudsman or regulator.

FXCanary has assigned Clearsave a Scam Risk Score of 51 out of 100, indicating an elevated risk level. This score reflects the broker's unregulated status, lack of transparent corporate information, and the absence of independent user reviews. While a score of 51 does not categorically deem the broker a scam, it signals that traders should exercise a high degree of caution.

The lack of verifiable information, combined with the offshore registration and high minimum deposit requirements for premium accounts, raises questions about the broker's intentions. We recommend that only experienced traders who fully understand the risks consider dealing with Clearsave, and even then, only with capital they can afford to lose.