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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40 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.

        1. They keep that aswel. What crypto platform did they use to take your money. Mine was shakepay. We should sue these scam breeding platforms

          1. Why can’t they wire it? There telling us we have to deposit more money to get our money out. Its like fighting over the phone

    3. I too have investment and profit in my account and they want me to front more money in my coinsmart account in order to receive my money.

      1. Yes same here 25%

  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

    1. Hi,
      There is an ongoing investigation with the RCMP and the Canadian Anti-Fraud Centre. Call the RCMP in Banff Alberta, and ask for Cst Frenette.

  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 !

    1. I also deposited $2,000 they show proof of $16,000 but want me to pay 40% commission fee to withdraw. I said I want to withdraw my funds and after 6 months I only get calls saying they will and can transfer to my Walker then asking me to download Anydesk so they can access my computer to transfer. I didn’t give them access and have not gotten any transfer to my crypto wallet that they said they would do. PLEASE SAVE YOUR MONEY.

      1. Typo above “proof” is supposed to be “profit” and “Walker” is supposed to be “crypto wallet”

  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??

      2. Hi. Any luck getting your money from them?

      3. Don’t be fooled we waited 3 days according to them the money had to be transferred to binace and it would be in our account within a short time so not and someone from the financial office called and they said that the money is not can be transferred because we had to pay an amount of 3000 euros for tax, we thought that was strange because at Sagarade branch they said that the money would be in our account and did not inform us that there was still tax to be paid were lucky we lost 4000 euros
        Of course you feel cheated and we stopped doing it so don’t go into business with these people with sagatrade they are all scammers with nice talk what they can’t deliver
        ————————
        Laat je niet in de maling nemen wij hebben 3 dagen gewacht volgens hun zeggen moest het geld worden over gemaakt naar binace en zou het binnen een korte tijd op ons rekening staan dus niet en iemand van de financiele kantoor belde op en zij dat het geld niet over gemaakt kan worden want wij moesten een bedrag van 3000 euro betalen voor de belasting dat vonden wij al raar want bij sagarade vestiging zeiden ze dat het geld op ons rekening zou zijn en niet ons hebben medegedeeld dat er nog belasting over betaald moest worden gelukkug waren wij 4000 euro kwijt
        Natuurlijk voel jij je beetgenoemen en wij zijn ermee gestopt dus bij deze mensen ga niet in zee met sagatrade het zijn allemaal oplichters met mooie praatjes wat zij niet kunnen waarmaken

  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??

      1. I am glad to see some up to date reviews here. I am in the exact same loop. I have sent them about $15,000.00, right up to the $2,100 tax on a withdrawal of 10,000 Euro, it is in delay as they keep changing account managers, the latest account manager, Rose, is calling me tomorrow to help pay a further “broker fee” of $4000.00 dollars! I think I will cut my losses and pack my bags and go home, as they say! I’m glad I decided to find all the reviews today, I have 8 more review sites to go! Thank you all for coming out….

  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

  11. There is a bigger picture,I think I have found at least two pieces of the puzzle.
    How many of you invested with sagatrade after seeing the ad on YouTube?
    Also has anyone experienced scamming after joining OrchidRomance? Also advertised on YouTube
    Are there other scams that YouTube is hosting?
    I am sure there is indeed a relatively well organized network of scams that may be all linked, and from extrapolating my experience it would appear to be a very large scale enterprise, certainly global and certainly with YouTube as a common denominator who knows how deep this particular rabbit hole goes.

  12. Please do not invest any money with these ‘brokers’, you will never see it again, they will act all supportive in the beginning, but as soon as you will want to withdraw money they will disappear, if you by chance get a hold of them they will shout at you, will want you to share your phone/PC screen as verification of your account (again, PLEASE don’t do this), then hang up out of the blue. It is not possible to call them back. I have reported them to police and ActionFraud already, as well to my bank, there seems to be investigations going on against them worldwide.
    I have multiple recordings of the phone conversations with them that I handed over to police, I hope all these scammers die a slow painful death, karma is a b*tch

  13. charlotte van de Gevel

    sagatrade are scammers they ripped me off for 35,000 let me walk that it was 100,000 in 2 to 3 months. said in December that the company was being sold. So all the money had to be withdrawn. 17 % of this I had to pay to get the money that was theirs because they had earned it. I was stupid enough to believe this. I also asked why the money was not debited from my account. This was not possible I had to pay that 17% from other money than from my account.
    So I transferred 17,000 euros. after that they played it smart because they created a coinbasewallet for me where it was deposited. the money was indeed on it, but before I wanted to transfer it to my own wallet, there had to be enough money on it otherwise it was suspicious. my money was gone I had no more options.
    Then I was still able to arrange money after this I was called by bitvavo where my wallet was stored. He pretended to be an employee of bitvavo that it was suspected that a large deposit was suddenly made. afterwards the employee was also of sagatrade, but to make it believable he pretended to be from bitvavo. email sent to coinbase wallet whether it is correct that that money was indeed on my wallet. Received an email from coinbase that this is not correct and that they do not understand how this happened. it was at 134,000 tether coinbase indicates that tether is not put that way by them but below erc-20

    1. I have also had my monies deposited into coin base wallet but can’t work out how to withdraw it, it says it’s in usd but then coin base says I have to pay a mining fee in eth to transfer it into the coin base account from the wallet, it’s all double Dutch to me!!

  14. Another scam company, Lost all my money.
    I managed to withdraw my first small deposit back, and they convinced me to deposit more.

  15. I have been taken for around $32000.00CDN, and My equity with Sagatrade is 94614.32 Euro. They want me to put $19000.00 in my Crypro Wallet to receive my money. This is garbage and I am not putting another red cent towards this. I have also started Fraud Investigation against Sagatrade.
    Guess I got sucked into this investment. They are nothing but a fraud in my eyes. DON’T TRADE WITH SAGATRADE!!!

  16. Hopefully this helps somepeople warning! Sagatrade is fraud all the way, thieves, similar story for me, started small then added more, 2 months later webtrader page shows 8,781 euros nice profit if it was really real! they tried to make me invest more in bitcoin which i declined , when i asked to withdraw and close it, they called, convinced me to add further $3050 for escrow and taxes into Ndax account, and then 3 days later, I stupidly added another 2500 in desperation to help release funds back to me, was what I was told, which immediately got converted into bitcoin and vanished, so from $5550 ca down to 32 cents.
    What a painful stressful experience

  17. Dear Heike,

    Same as mine. I invested 250usd and i get a profit of 15thousand euro. and i been requesting for withdrawal till now no.. there asking for another tax payment for them to release my money.

    huhuhu.. Im a single mom. I never thought it will happen to me.I hope i get my money back..

    🙁

  18. I was also scammed by these thieves. Started out with £250 then £1500 I was passed from one trader to another, constantly calling you. In the end I gave them £11000 and was told it had gone up to 116.129 usd, they placed this in a Bitcoin wallet for me then continue to harass me th pay £7000 to get the monies out. I have contacted coin base and I still can’t figure out how to withdraw this money, please don’t get scammed like me!!

  19. Last phone call today at 10.00. Contact person Emilio Tedeschi, third MY Account Manager. Before him, a certain Luna Seres and after a certain Alex Shon. For some time, after having explained the reasons (I thought it was a Legal and Official site), I asked for the return of the amount invested by me. The phone call was interrupted, after I had firmly replied in the negative to their new attempt to make me pay more money. What can I say, I consider myself scammed and at this point, after reading what happened to other inexperienced people, I no longer want to have anything to do with these …….. gentlemen. I consider myself a fool and will pay for my ignorance. I ask all those who read this message, NOT to be scammed.
    ———————————
    Ultima telefonata oggi alle 10.00. Referente Emilio Tedeschi, terzo MIO Account Manager. Prima di lui, una certa Luna Seres e dopo un certo Alex Shon. Da tempo, dopo averne spigate le motivazioni ( lo credevo un sito Legale ed Ufficiale ), ho chiesto la restituzione di quanto da me investito. La telefonata si e’ interrotta , dopo che con fermezza avevo risposto negativamente ad un loro nuovo tentativo di farmi versare altri soldi. Che dire, mi ritengo truffato e a questo punto, dopo aver letto quanto accaduto ad altri sprovveduti, non voglio piu’ aver niente a che fare con questi…….. signori. Mi considero uno stupido e paghero’ per la mia ignoranza. Chiedo a tutti coloro che leggeranno questo messaggio, di NON farsi truffare.

  20. Sagatrade is a SCAM

    Beware of Sagatrade. It is a scam. Once they have your money, you lose it. That happened to me. What do they do?
    – They invest it for you in a trade robot.
    – Then you make some profit
    – Then they try to get you to deposit more money
    – They call you day and night with numbers all over the world, very annoying

    And then what? When you want to withdraw your money, you find out that it is a scam. You will never be able to withdraw your money. They make you believe all sorts of things:
    – The money is lost because the market is not good (while there is still a lot in your account)
    – The wallet address is not good
    – Would you really stop because there is suddenly a lot of profit? And then suddenly a stranger has opened a position in your account

    And so it goes on and on. Personally, I have been trying for 4 months to “just” withdraw my money but it does not work and believe me, I have called and emailed a lot.

    Invest your money via a reliable source and not Sagatrade!

    Pierre from the Netherlands

  21. Does anyone know if their exchange platform is a hoax as well? I mean are the profits stated “real” or is it all scam. Has ANYONE been able to get their funds out with this company? Anyone??

  22. scam scam scam There is so many reasons to run away from Tommy Robbinson, Rose, Christina, the called me and promise to help me get my money back,i listen to all the story the told me and i give them my money, after the take the i have not hard from them.

  23. Yes we are all victim from this scam and loosing money..how we find them otherwise they looting all over the world…so please think about it and find them to grabe thiere neck.

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