Broker Website: https://www.sagatrade.io/
Address: 115 Bishopsgate, London EC2M 3UE
Regulated By: Unregulated
Warned By: Financial Market Authority (Austria)
Sagatrade is a scam that attempts to fool financial backers. These scam brokers show various positive reviews to trap traders in their scams. We have some factors that highlight Sagatrade is an outrage. Avoid this fake platform. Read this Sagatrade review to ensure you are trading with a reliable broker and share it with people to save them from scam brokers.
Sagatrade located in London got a warning from Austria’s Financial Market Authority for offering financial services without being appropriately approved to do as such. Trading and investment with an unapproved substance imply a risk of loss since they act outside the extent of the controls laid out by administrative bodies. According to them, Sagatrade is not authorized by them and is targeting innocent investors. So if you are looking to trade with this broker, stop now and think again.
There are a ton of warnings that one should consider safeguarding financial backers. When you land on their website page, it appears as a get-fast rich plan. The landing page doesn’t offer a lot of data about their services.
Once you start trading with them, you will face a couple of issues. The platform has no internet-based standing, and nobody appears to know them. These are trick specialists who need to get their hands on the rewarding trading world.
Sagatrade Warning Signs
It is not a good idea to work with an unregulated broker. Also, it is additionally not prudent to work with a broker that has a license from a controller that isn’t in the best two levels. The lower-grade controller doesn’t give a lot of investigation concerning those they permit and don’t take part in oversight or manage shopper objections effectively. Hence, it is as terrible as working with a merchant with no license.
The place where numerous traders acknowledge they are dealing with a scam broker is the point at which they try to withdraw their funds, and the broker either will not permit them or will make it troublesome. They might utilize some strategies like:
- Will forcefully ask clients to make extra exchanges.
- Stop communication. They might be equivocal or essentially not impart by any means.
- Will charge high withdrawal expenses.
If Sagatrade is doing any of these things and not delivering your funds, immediately file a complaint.
The minimum deposit is generally asked in small amounts by the legitimate brokers as taking a large amount as the minimum deposit is not advised by the regulations. However, the tradition of taking huge minimum deposits is common in scam brokers as their main aim is to steal as much money as they can from the trader before they get suspicious. The usual amount asked by the legitimate brokers lies in the range of $5 to $10. If the broker asks for an amount more than the average, chances of a scam.
Sagatrade Review Conclusion
Everybody should avoid trading with Sagatrade as this broker is a scam. They take funds from clueless investors and will remain determined to take your well-deserved money.
We did not suggest this broker for different reasons. One of the reasons is that the broker does not hold a legitimate exchanging license and it get a warning from FMA. There are a few objections held up against this broker. The ideal choice is to stay away from such brokers.
If you lost your funds to the Sagatrade scam broker or some other brokers who are involved in Forex Scams, Binary Scams, Cryptocurrency Scams, etc., or just need to figure out additional information about any broker, you can fill Sagatrade Complaint Form. We advise traders and assist them with documenting a powerful case against fraudsters. With insightful reports and direction, we can help you while heading to recovering your assets.
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