SagaTrade broker review – Why sagatrade.io is just another trading scam?

As of May 2023, the broker (sagatrade.io) has ceased operations. But you can read the article to avoid falling for similar scammers.

Is SagaTrade safe and regulated?

SagaTrade, an online trading brokerage, tries to ensure its clients that they operate “under license.” We’ve therefore decided to verify if SagaTrade has been regulated by whom and who the operation is owned.

The SagaTrade broker did not give us any information about the owner and the alleged license is still a mystery. The FCA license should be applied for since the company’s official headquarters are in the UK. But what they should have done and what they did is a different thing.

SagaTrade license – Reputation problems

We found no regulation for SagaTrade after careful inspection of the FCA and ASIC registers. This means that you are dealing with not only unregulated fraud but also people who will do whatever it takes to con their clients with false information.

SagaTrade login issues – a sign of a scam

Login issues are a common sign of scammers. SagaTrade is one of the brokers that blocks clients from accessing trading accounts after they ask for a payment. The broker can do almost anything, as no regulator can control clients’ funds.

Your account could be suspended if you insist on withdrawing too often. We can help you if you are unable to log in to your account for a few days consecutively.

SagaTrade trading platform review: trading software

Broker trading platform offers MT4, MT5, WebTrader, and other options. The reality is quite different. The broker only provides a web trader. You can read about MT4 or MT5 but you won’t have access to a webtrader, and it may not be a high-quality one.

We recommend that you find a brokerage that offers a MetaTrader.

SagaTrade mobile trading

SagaTrade’s website provides information about proprietary trading applications, but no link is provided to download them. It would be reasonable to assume that there is no app, and that you can only access your trades via a mobile web browser from any device regardless of whether it’s an Android or iOS.

SagaTrade trading instruments: what can I trade with?

We have again a list with assets and no more information from SagaTrade forex brokers. Here’s the complete list:

• Currency pairs (Forex)
• Commodities
• Indices
• Shares
• Cryptocurrencies

You won’t find any further information if you search for it. We were hesitant to open our funds to the broker to test out the offer, as there is no Demo account. We recommend that you do the same. Avoid SagaTrade as much as possible.

SagaTrade trading accounts – account types

There are seven types of accounts:

• Bronze
• Silver
• Gold
• Platinum
• Diamond
• Premium
• VIP

As you can see, it all comes down to how much money you are willing to invest, the support that you receive, and what “risk-free” trades you choose to make. Nobody can predict the market perfectly.

SagaTrade’s minimum deposit for a Bronze account, according to the support department, is $10,000. However, you can start with $250.

Demo account

The Demo account is not available from the broker, so we are unable to verify the entire asset offer.

Islamic account

According to the website, all Muslim clients can access Islamic Swap-Free accounts.

SagaTrade withdrawal options – How to withdraw money?

You can choose one of these options if you are lucky enough to receive withdrawals from SagaTrade.

• Credit card
• Debit card
• Bank wire transfer
• Internet payment transfer

The broker does not give an ETA for withdrawals. Instead, they only provide deposits. This money is sent to SagaTrade bank and that’s all the company cares about. For the first withdrawal of the month, the company does not charge fees. However, you will be charged for any additional withdrawals.

Are you a victim of the SagaTrade scams? We can help you!

Let us know if you have been scammed by SagaTrade, or another illicit broker. Do not fall for the SagaTrade scam. Instead, file a dispute to get your money back.

Assistance Refund has been subject to numerous complaints about the broker. We are helping people get their money back.

Let’s get to work immediately and take back what is rightfully ours!

SagaTrade: Video

Below you will find a short video about SagaTrade. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about SagaTrade!