Checking SageFX broker’s website, we found some interesting details. The broker gives us all the trading conditions transparently and looks like a company you could trust. However, never be satisfied with what you read.
There are a couple of important questions to answer before giving your money away. Is SageFX regulated and licensed, and under which legal jurisdiction it belongs? To whom do you complain if you get scammed by SageFX?
These are just some of the information you need before your money leaves your bank account.
Let’s begin with our trusted SageFX review and answer all those!
|Broker status:||Unregulated Offshore Broker|
|Regulated by:||No Regulation (Unlicensed Brokerage)|
|Broker Owner:||Sage Forex LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Trading Platforms:||MT4, MT5|
|Mobile Trading:||Android & iOS|
|SageFX Minimum Deposit:||$10|
|Crypto Assets:||Available (ETH, BTC, XRP)|
|Available Trading Assets:||Forex (FX), Indices, Commodities, Cryptocurrencies|
|Islamic Account:||Not Available|
|Free Demo Account:||Available|
|Accepts US clients:||Not Accepted|
SageFX Regulation and Licensing Details
SageFX is owned by Sage Forex LLC from Saint Vincent and the Grenadines. As you may know, SVG has a financial regulator, but it strictly directs brokers to opt for regulation in the country where they provide financial services.
Problems With SageFX License and Regulation
The Financial Services Authority of Saint Vincent and the Grenadines has no record of SageFX regulation. The same stands for several European Tier 1 regulators that we’ve searched – FCA, BaFin, and Australian ASIC. Therefore, the broker is not regulated in the country of origin nor countries where it provides financial services and can be considered a scam.
SageFX Trading Platform Review
For an offshore brokerage, SageFX trading platform offer is terrific. The company offers:
- MetaTrader 4 (MT4)
- MT4 Demo platform
- MetaTrader 5 (MT5)
However, this does not change the fact that we are dealing with an unregulated business and your funds are at risk.
The broker offers clients leverage up to 1:500, and SageFX minimum deposit is $10. Yes, it’s a low amount, and the start won’t hurt. However, with $10 and high leverage, opening a position without risk is impossible. You are facing two choices: not making any profit or investing more money and putting yourself at risk.
Notably, the broker does not offer social trading on the platform nor an Islamic account.
Assets You Can Trade With Broker
The broker offers trading with:
- Currency pairs
However, the share market is probably the biggest and the most tradable, and this company offers no options for trading.
SageFX Withdrawal Problems – Unable to Withdraw
According to SageFX reviews, this broker puts clients into a struggle when it comes to funds withdrawals. There are too many issues starting from the moment someone tries to get their money back. At first, the broker is convincing clients not to withdraw, while later, they cannot even access their funds or log in to their account.
SageFX Login Issues – Another Scam Sign
As aforementioned, clients are being punished for wanting their money back. The broker is blocking their account access so they will stop submitting requests. These blocks are illegal, and it’s a clear violation of terms and conditions.
If you experience something similar, let us know immediately.
Did You Fall Victim to the SageFX Scam? We Can Help!
Suppose you started trading with SageFX and experienced already described withdrawal issues. Of course, you should fight back and get your money back. You need to file a dispute and request a chargeback immediately.
Global Fraud Protection recently discovered numerous offshore brokers doing the same. Their interest is to collect as much money as they can and leave their clients with no answers. You should know you are not the only victim of the SageFX scam, and there is a way to help.
Contact us via chat, book a free consultation and tell us your story.
Don’t Let the Scammers Go Away for Free!
What is SageFX?
It is an online trading brokerage without regulations for providing financial services. Beware of fraud!
Is SageFX regulated and licensed?
Broker does not have an offshore or any other regulation for conducting financial business.
Who is the owner of SageFX broker?
The owner of SageFX is Sage Forex LLC from Saint Vincent and the Grenadines.
Are My Funds Safe with SageFX?
Your funds are never safe with a shady offshore brokerage such as SageFX.
What deposit and withdrawal methods SageFX supports?
Broker accepts only debit/credit cards and Bitcoin as payment methods.