SagaTrade.io review – 5 things you should know about sagatrade.io

SagaTrade.io review – 5 things you should know about sagatrade.io

Rating: 1

Beware! SagaTrade.io is an offshore broker! Your investment may be at risk.

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SagaTrade.io is revealed to be a legit and incredibly simplistic forex broker that does not reveal too much about itself. This approach may seem tempting and even profitable to some, but in this business such meandering is all but lucrative. Just think of how the weight of knowledge that users will be missing out on since SagaTrade.io  has not included it. The only way to get a good grasp of what SagaTrade.io is is to create an account. But even then we found that there isn’t much to be experienced here. Read on to find out what we mean.

The registration page was definitely too easy to follow, thus making it very suspicious since it allows anyone to create an account. Anyway, we entered a user area and were disappointed to find that the minimalistic approach had been utilized for a second time.

Thankfully we were provided direct access to a trading software, that was nonetheless a popular terminal utilized by scammer brokers.

The EUR/USD cost of trade was indicated as being 0.6 pips which is excellent, but also too good to be true. It seems that with offshore brokers we keep on identifying this predicament. The available tradeable assets are forex currency pairs, commodities, cryptocurrencies, shares, and indexes. The leverage is capped at 1:200.

The website of SagaTrade.io is available only to English speakers.

SAGATRADE.IO REGULATION AND SAFETY OF FUNDS

The broker claims to be legit, but does not back up this claim with any evidence. This is the classic example of a scammer brokerage.

Its lack of a license is exemplified by the gibberish that it keeps throwing at its users; nonsense that barely covers any ground.

The first of such bull is found deep in the site where we read that the company is currently “in the process of obtaining a license”. Note that it does not say from whom or when it is expecting to acquire said license. This is absurdly random and is written without a backing principle.

The next absurdity is an alleged address in London, suggesting that SagaTrade.io is holding a license from the FCA. We couldn’t be further from the truth. The British overseer has nothing to do with this failed attempt at a brokerage firm.

The truth is that SagaTrade.io is UNREGULATED and a risk to all. There is no other alternative to this verdict.

SAGATRADE.IO TRADING SOFTWARE

The trading software is not one that we have not seen, nor is it one that we can call helpful. What this web trader tends to have is a great visual appeal that will considerably act as a lure to potential depositors.

Unfortunately, aside from this feature, this office has nothing interesting or special to offer.

SAGATRADE.IO DEPOSIT/WITHDRAW METHODS AND FEES

According to the user area: we could not invest because we received an error page. This is outrageous, not only because of the issue itself, but because the broker is unlicensed and it just proved that it has completely lost control. What does SagaTrade.io expect to happen next?

The withdrawal area revealed the following payment methods: wire transfer, credit cards, and some mystery “wallet”. By following logic’s path, these methods for receiving money should also be used for investing said money. However, the issue deepens with unlicensed brokers. Payment conditions are all over the place.

At times, there are no payment details at all, as is the case with SagaTrade.io. Aside from a mention of a $250 minimum deposit requirement, there is no other payment information anywhere.

We see this as another reason to label SagaTrade.io a risk to all investments and a scam! Do not deposit here.

 

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16 Comments

  1. Sagatrade is a scam, it’s run by very professional criminals. It’s not registered and the people cannot be traced. The website is fake. I can’t get any money out!! The dumbest thing I ever did in my entire life! Don’t trust them, ever!

  2. Scam, Scam scam, don’t trust them, ever. don’t invest a single cent!

    SagaTrade is a complete hoax. Look carefully at the website and you’ll see for yourself. It looks as if you’re making huge profits. Except, when you want to take any money out, you cannot. You need them to do it for you and they come up with most unbelievable stories, like you took a credit with them or you need to put money somewhere to then be able to get money out because else transactions would count as money laundering. I don’t think their trading platform even really exists. They show you something that they can manipulate the way they like to make you believe you’ve made huge profits. Their stories make no sense, have no base in reality and are highly consistent. I don’t believe they are based in the UK at all, Lithuania would be my guess. Don’t ever invest anything unless you’re a policeman trying to stop these highly illegal practices!

  3. Sagatrade is a scam. I have 10.000 Euro in their accounts and can not get it out.

    1. i also invest for 250usd and in two days my account shows only 38 now..

      I emailed them but no reply.. before there saying someone will call me but sad to say no one called.i want my money back.

    2. Are they asking you to pay a 17%taxes,( on profits) to release your money?

      1. Yes!! I want to but I’m afraid they will keep that too.

  4. SCAM SCAM SCAM .i lost over $73,000 Canadian lost in a blockchain then came came back and cleaned out what ever was left on the trading list .STAY AWAY FROM SAGATRADE.io SCAM SCAM SCAM

  5. i deposited 250 euro last friday in sagatrade io now doing due dilligence
    before depositing 5000 euro ,i am disheartened by comments on this review
    please confirm i should halt going foreward with this trading platform !

  6. never do anything with this,,is scamming you all..bullshit all

  7. Yep I feel stupid too. Put in $250 win 3 days its 320. Next they want you to invest 4,0000euros. I didnt bite as starting to get suspicious and told them I want my money back which did not go down with them.
    I had noticed that they said they were based in London I did not here one UK accent they all had European accents. I have not been on their website for 2 months and I just got a call saying my portfollio in now worth 21,300 euos . But my original 320 is still sitting in my account with the additional 21,300 in investments. Dont know where that came from.!!
    So to with draw the 21,300 euros I have to make an additional 3.600 euros to them. I wasnt born yesterday.
    SCAM SCAM SCAM

    1. That’s what they want from me too. Except stupid me fell for it and ended up giving them $40,000 Canadian of my hard-earned savings. Now they want me to pay a 17% tax on the profit which is 22,000 profit and they want me to give them an additional $3, 000. I want to believe them that they will release the money they guarantee they will. They only want it through bitcoin, and I am so skeptical. Has anyone ever gotten their money back by giving them more money? Or am I going to get scammed again??

      1. I need to know the same thing….has anyone gotten their money back after paying 17% tax??

  8. CryptocyNews.com give them a glowing review. When in fact they are all a bunch of lying cheating so and so’s .
    There should be an article or web page warning not to trust articles that are published if associated or linked with the SCAMMERS

  9. Can anyone tell me if they invested a large amount with sacatrade.io and receive their money back? And if you did did you have to pay a 17% tax on the so-called profit? Then they said there’s an additional 5% you have to pay but you will get that back when they release the funds. They also said that it would only take one hour to get all your funds back once they receive these taxes and fees. Is this true? Or they just trying to scare me again? What should I do?

    1. They are asking the same thing from me. Has anyone gotten their money back this way? Or are they again just trying to scam us? What should we do??

  10. I’m at the point anti phishing signalled a stop from blockchain of me receiving my funds but it went out of my trades account same location too.i lost 85k EU

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