Want to Trade with SagaTrade? Read This First!
SagaTrade is famous–or rather, infamous. It has been flagged may many regulators. There’s a virtual alphabet soup of regulator warnings from all over the globe–FCA, FSMA, FMA, CONSOB, OSC, and CNMV. Why has SagaTrade gotten this kind of negative attention? It’s unregulated and engages in highly problematic practices. More than one customer has complained about SagaTrade asking for complete control of accounts and even asking them to install software that allows them to control the client’s computer.
Is SagaTrade a Scam or Legitimate?
SagaTrade claims it offers trading of CFDs, crypto, stocks, commodities, and forex. It also says that customers can use MetaTrader 4 and 5. However, customers report that there was no offer of MetaTrader, but a web-based platform that allows the broker complete control–even to create the illusion that trading is happening. If no trading is going on, it doesn’t matter what asset classes SagaTrade says it offers. This is not a trustworthy broker.
We Found Problems with SagaTrade:
- Not regulated
- Flagged by FCA, FSMA, FMA, CONSOB, OSC, and CNMV
- Aggressive and exploitative practices.
- No transparency.
- No contact information
What You Should Do If You Have an Account with SagaTrade?
You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!