The Official Website Of SagaTrade Cannot Be Accessed Normally At Present. It Seems That The Company Has Closed Down. Therefore We Can Only Collect Some Relevant Information For Reference Only.
2022-03-17 The Austrian FMA Has Placed SagaTrade On The Warning List
On March 17, 2022, The Austrian Financial Marekt Authority (FMA) Issued A Warning That SagaTrade Is Not Authorized To Carry Out Bank Transactions In Austria That Require A Business License. Therefore, The Dealer Is Not Allowed To Conduct Commercial Transactions With His Own Account Or On Behalf Of Others. You Can Visit The Following Website For Details: Https://www.fma.gv.at/en/sagatrade/
2022-07-25 Our Review Confirms That SagaTrade Is An Unregulated Foreign Exchange Broker
SagaTrade Claims To Be A Trustworthy Broker, But Does Not Display Its Foreign Exchange License On The Website. At The Same Time, The Broker Also Claims That It Is Actively Obtaining Effective Regulations To Provide Better Financial Services To Its Customers. In Other Words, SagaTrade Is Currently Providing Foreign Exchange Financial Services Without Authorization.
In Addition, The Austrian Financial Marekt Authority (FMA) Has Issued A Warning That SagaTrade Is Not Authorized To Carry Out Banking Transactions In Austria That Require A Business License. Therefore, This Broker Is Not Allowed To Trade Commercially On His Own Account Or On Behalf Of Others.
In Fact, SagaTrade Is Not Regulated By Any Regulatory Authority. It Is Not Safe To Let This Broker Hold Or Control Investors' Funds, And Investors Cannot Be Protected By Any Law. It Is A Fake Trader.
Since It Is Now Impossible To Access The Broker's Website, We Are Also Unable To Obtain More Direct Details About Its Trading Assets, Leverage, Spreads, Trading Platform, Minimum Deposits, Etc.
As For Regulation, It Has Been Verified That SagaTrade Has Not Obtained Any Valid License At Present.
But Most Non-compliant Brokers Will Not Disclose To Provide Other More Direct And Truthful Contact Information, Such As Phone Numbers Or Company Addresses.
Note: SagaTrade As A, Unregulated Broker Means That Clients' Investments May Not Be Adequately Protected. Due To The Lack Of A Regulator To Hold Companies Accountable, The Lack Of Regulation Increases The Risk Of Potential Financial Losses.
If Investing In An Unregulated Broker, There Is A Good Chance That They Will Run Away With Your Hard-earned Money Without Any Recourse. Therefore, Investors Must Be Extremely Cautious And Remind Everyone To Stay Away From These Unregulated As Much As Possible When Choosing A Broker.
