Score
SAGATRADE
United Kingdom|2-5 years| https://www.sagatrade.io/
Website
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No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
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Contact number
+44 2030052148
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Broker Information
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SAGATRADE
SAGATRADE
United Kingdom
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
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| Maximum Leverage | -- |
| Minimum Deposit | € 1,000,000 |
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| Minimum Deposit | € 500,000 |
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| Minimum Deposit | € 250,000 |
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| Minimum Deposit | € 100,000 |
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| Minimum Deposit | € 50,000 |
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| Minimum Deposit | € 25,000 |
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| Minimum Deposit | € 10,000 |
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- Fundamental Item(A)
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- Non-Fixed Capital(A)+(B)-(C)=(D)
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Capital
$(USD)
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SAGATRADE · Company Summary
Note: SAGATRADE's official website: https://www.sagatrade.io/ is currently inaccessible normally.
| SAGATRADE Review Summary | |
| Founded | / |
| Registered Country/Region | United Kingdom |
| Regulation | No regulation |
| Market Instruments | Forex, CFDs, indices, stocks, commodities, futures |
| Demo Account | ❌ |
| Spread | Floating |
| Leverage | Up to 1:100 |
| Minimum Deposit | €10 000 |
| Trading Platform | MT4/5 |
| Customer Support | Tel: +44 2039877591; +44 2039877626 |
| Email: support@sagatrade.io | |
| Address: 115 Bishopsgate London EC2M 3UE | |
SAGATRADE is a UK-based brokerage company who offers trading services in forex, CFDs, indices, stocks, commodities and futures. It provides two robust and world-accaimed trading platforms- MetaTrader 4 and 5 to enhance customer services. 256-bit encryption is enabled to protect customer data.
Furthermore, the broker provides free educational resources through video, e-books, seminars, and webinars to equip traders with essential knowledge for successful trading. 7 tiered accounts are ready to meet varying customer needs. You can also using trading tool such as economic calendars, alerts, traders guides, news and market insights to catch up with market trends and seize market opportunities.
However, the minimum deposit requirement is extremely high at €10 000, which is quite a burden to most traders. Furthermore, an inaccessible website and absence of regulation irritates traders about their legitimacy and reliability.
Regulatory Status
Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of SAGATRADE, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises significant concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.
Downsides of SAGATRADE
Unavailable website: SAGATRADE's website cannot be opened currently.
Regulatory concerns: The company operates without any regulations, meanig that it does not comply to rules from any regulatory authorities. This heightens trading risks with them.
Extremely high minimum deposit: Though there are 7 tiered accounts available, the threshold to open an account with the broker is extremely high at $10 000, which is a huge burden to most retail brokers.
What Can I Trade on SAGATRADE?
SAGATRADE provides trading services to several trading instruments, mainly in 5 asset classes.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Shares | ✔ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
Forex: Forex, or foreign exchange, is the global marketplace for trading national currencies against one another, facilitating international trade and investment.
Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type, such as precious metals as well as energyproducts like crude oil.
Stocks: Stocks represent ownership stakes in large companies such as Apple, Tesla etc., allowing investors to participate in their profits and losses.
Indices: Indices are statistical measures that represent the performance of a group of stocks, helping investors gauge market trends and economic health.
CFDs (Contracts for Difference): Financial derivatives that allow traders to speculate on price movements without owning the underlying asset.
Futures: Standardized contracts that obligate the buyer to purchase, and the seller to sell, an asset at a predetermined price on a specific future date.
When dealing with investment activities, always adhere to the principle of diversification by allocating funds across various products rather than coSAGATRADEntrating on a single one you feel optimistic about.
Account Type
SAGATRADE does not provide demo accounts for testing as many brokers do, but there are 7 tiered live accounts for traders to choose from.
The entry level of this broker is quite high and not suitable for retail brokers, with minimum deposit requirement at €10,000, €50,000, €50,000, €100,000, €250,000, €500,000 and €1,000,000 respectively for Bronze, Silver, Gold, Platinum, Diamond and VIP account.
Additionally, the Islamic account does not specify a minimum deposit and is designed to be swap-free, aligning with halal investing principles.
For commissions, the broker claims to not charge any for first deposit or withdrawals for the first month, but you should pay attentions for the possible fees after the first month.
| Account Type | Minimum Deposit |
| BRONZE | €10,000 |
| SILVER | €25,000 |
| GOLD | €50,000 |
| PLATINUM | €100,000 |
| DIAMOND | €250,000 |
| PREMIUM | €500,000 |
| VIP | €1,000,000 |
| ISLAMIC | / |
Leverage
The leverage offered by SAGATRADE is capped at 1:100, which is a little higher than the standard set by EU regulators. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Trading Platform
SAGATRADE provides both MetaTrader 4 and 5 trading platforms for traders to execute transactions.
These two platforms are widely recognized and used worldwide and are famous for their intuitive interface, built-in charting tools, and market analysis.
Deposit & Withdrawal
SAGATRADE accepts deposit and withdrawal via credit cards, debit cards, bank wire transfers, and Internet payment transfers.
Processing time is up to 5 business days when using bank wire transfers to deposit or withdraw funds from the broker.
News
NewsEMEFIELE'S INSISTENCE ON A CONTROLLED FLOAT FX POLICY BOOSTS THE NAIRA
Nigeria's currency rose 0.28 percent compared to the dollar in the official market on Friday, a day after the Central Bank of Nigeria's governor, Godwin Emefiele, insisted on a managed float system.
WikiFXNewsWikiFX Review: Is SAGATRADE trustworthy?
What does SAGATRADE look like? Is SAGATRADE legal in your country? WikiFX made a comprehension review on this broker to help you better understand the truth, we will analyze the reliability of this broker from specific information, regulation, exposure and etc. And you should never miss it.
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