English

SagaFX Forex broker specializes in providing foreign exchange trading services, the company's official website https://cabinet.saga..., the company's legitimate regulatory information IndonesiaBAPPEBTIRetail Forex License to enhance the security of the company's address Pusat Bisnis Tamrin City, LT.6 No.608 AD. JL. Thamrin Boulevard Jakarta Pusat 10230

SagaFX Forex Broker

Basic Information

Registered Region

Indonesia

Operating Period

Company Name

PT. SagaFX Sentra Berjangka

Abbreviation

SagaFX

Company employee

Customer Service Email Address

support@sagafx.com

Contact Number

+6202131936090

Company Website

https://sagafx.id/

Company address

Pusat Bisnis Tamrin City, LT.6 No.608 AD. JL. Thamrin Boulevard Jakarta Pusat 10230

Facebook

https://www.facebook.com/sagafxid

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Company Name PT. SagaFX Sentra Berjangka Registered Country/Area Indonesia Founded Year 2007 Regulation Regulated by Indonesia Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI) Tradable Assets Forex, Stock Index CFDs, Commodities Account Types Regular, Mini Minimum Deposit IDR 5 million (Regular), IDR 2 million (Mini) Maximum Leverage 1:100 Spreads Fixed spread starting from 3.0 pips for forex and $0.5 for commodity contracts Trading Platforms MT4 Demo Account Available Customer Support Telephone (+62 021-31936090), Email (support@sagafx.com), Office Address (Pusat Bisnis Tamrin City LT.6 No.608 AD. JL. Thamrin Boulevard Jakarta Pusat 10230) Deposit & Withdrawal BCA Bank Overview of SagaFX SagaFX, formally registered as PT. SagaFX Sentra Berjangka, was founded in 2007 and operates under the strict regulations of Indonesias BAPPEBTI. This broker provides traders with a selection of tradable assets including forex, stock index CFDs, and key commodities such as gold, silver, and oil. SagaFX offers two main types of accounts: Regular and Mini, with leverage up to 1:100. Traders have access to the globally recognized MT4 platform, ensuring a reliable trading experience. Pros and Cons SagaFX stands out for its regulatory compliance with BAPPEBTI and holding a Retail Forex License. The brokerage provides a focused selection of Forex, Stock Index CFDs, and Commodities including significant commodities like gold and oil. The utilization of the MT4 platform also indicates a commitment to offering an industry-standard trading experience. However, the broker's services are limited to the Indonesian jurisdiction, which sets a barrier for international traders. The range of trading instruments is limited, with only a few currency pairs and stock indices available. Furthermore, the dependency on a single financial institution, BCA Bank, for all transactions, could be seen as a lack of flexibility in banking options. Pros Cons Regulated by BAPPEBTI, with a Retail Forex License Limited to Indonesian jurisdiction Demo Account Available Limited number of currency pairs Offers Forex, Stock Index CFDs, Commodities Few stock indices available Coverage includes major commodities like gold and oil Lack of transparency of commissions Utilizes MT4 platform Limited to one financial institution - BCA Bank Is SagaFX legit or a scam？ SagaFX operates under the strict supervision of Indonesia's commodity trading regulatory authority, Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI), with a specific Retail Forex License. This regulation indicates that SagaFX adheres to operational standards required in Indonesia. Market Instruments SagaFX provides three trading instruments, encompassing Forex trading with 10 currency pairs—these pairs reflect the trading of one currency for another at changing exchange rates. Additionally, there are Stock Index CFDs on 3 major market indices—these indices are composite measurements of the performance of baskets of stocks. The Commodities offered include Gold, Silver, and Crude Oil, which are standard commodities frequently traded on international commodity markets. Account Types SagaFX presents two distinct trading accounts: the Regular and the Mini. The Regular account, suitable for seasoned traders, requires an IDR 5 million deposit and offers 1:100 leverage with a minimum lot size of 1. For newer traders, the Mini account allows entry with just IDR 2 million, maintaining the same 1:100 leverage but with a minimum lot size of 0.1. Both options feature fixed spreads—3.0 pips for forex and $0.5 for commodities. A risk-free demo account is available for practice and strategy development. Account Type Minimum Deposit Leverage Regular IDR 5 million 1:100 Mini IDR 2 million 1:100 How to Open an Account with SagaFX Initiate Registration: Navigate to the SagaFX website and click the ‘BUKA AKUN’ button to get started. Provide Personal Information: Enter your personal details as required in the online form. This will include contact information and financial background. Document Submission: To verify your identity, upload the necessary documents, such as your ID and a recent utility bill. Deposit Funds: Choose either the Regular or Mini account and make the initial deposit using the supported methods at BCA Bank, benefiting from fixed currency conversion rates. Start Trading: With your account ready, you can commence trading on the MT4 platform. Utilizing the demo account first is recommended to gain comfort with trading operations. Leverage SagaFX provides a consistent maximum leverage of 1:100 across its Regular and Mini accounts. Spreads & Commissions The broker offers a fixed spread starting from 3.0 pips for Forex trading pairs and $0.5 for commodity contracts like gold, silver, and oil. Trading Platform The trading platform provided by SagaFX is the MetaTrader 4 (MT4), known for its reliability and extensive functionality. MT4 appeals to all types of traders by offering advanced charting tools, numerous technical indicators, and the capability for automated trading via Expert Advisors (EAs). Deposit & Withdrawal At SagaFX, deposit and withdrawal activities are conducted using a set exchange rate of $1 = IDR 10,000, through BCA Bank. The brokerage uses a segregated account to guarantee the security of trader funds, reflecting their compliance with regulatory standards set by BAPPEBTI. Customer Support Telephone: +62 021-31936090 Email: support@sagafx.com Address: Pusat Bisnis Tamrin City, LT.6 No.608 AD. JL. Thamrin Boulevard Jakarta Pusat 10230 Conclusion Regulated by Indonesia's BAPPEBTI, SagaFX offers a secure and regulated environment for local traders, supported by the well-regarded MT4 platform and a solid selection of commodities. However, its market reach is restricted mainly to Indonesia, potentially limiting international appeal. The narrow range of trading options and reliance on a single bank for all financial transactions indicate potential challenges regarding variety and flexibility. Additionally, the fixed exchange rate could be problematic in unstable financial markets, influencing profitability. FAQs Q: What account options does SagaFX provide？ A: SagaFX has two main account types: Regular and Mini. The Regular requires an IDR 5 million deposit, suitable for seasoned traders; the Mini, needing only IDR 2 million, is ideal for beginners. Q: What are the trading platform options at SagaFX？ A: The MetaTrader 4 (MT4) platform is available at SagaFX, acclaimed for its advanced features and ease of use for traders at any skill level. Q: Is SagaFX a regulated entity？ A: Indeed, SagaFX operates under the strict guidelines of Indonesias BAPPEBTI. Q: What commodities can I trade with SagaFX？ A: SagaFX enables trading in major commodities such as gold, silver, and oil. Q: Whats the highest leverage available at SagaFX？ A: The maximum leverage offered by SagaFX is 1:100. Q: How are deposits and withdrawals processed at SagaFX？ A: Transactions at SagaFX are exclusively managed through BCA Bank using a set exchange rate of $1 = IDR 10000. Q: Is there a demo account at SagaFX？ A: Yes, a demo account is available at SagaFX, perfect for practicing trading without financial risk. Risk Warning Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies. Additionally, the review's generation date is a critical consideration, as information may have evolved since then. We strongly advise readers to verify updated details directly with the company before making any decisions, as the readers must be aware of and willing to accept the inherent risks involved in utilizing this information.

SagaFX broker review

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How to login to SagaFX?

sagafx Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a sagafx Account Registering for a sagafx account is the first step to accessing their trading services. Follow these detailed steps to ensure a smooth registratio

sagafx Broker - Complete Information Guide

1. Broker Overview

　　Sage FX, established in 2020, is an online forex brokerage firm headquartered in the Marshall Islands. As a private entity, it operates under the legal structure of Sage Forex LLC. The broker primarily serves a global market, catering to retail clients and experienced traders seeking a reliable platform for forex and cryptocurrency trading.

　　Since its inception, Sage FX has aimed to provide competitive trading conditions and a user-friendly experience. The firm has seen significant growth in its client base, attributed to its low minimum deposit requirements and high leverage offerings. Its business model focuses on providing retail forex trading services, allowing clients to access a wide range of financial instruments.

　　Sage FX has positioned itself as a modern broker, emphasizing the importance of technology and customer service. The firm has made strides in creating a robust trading environment, which includes offering various account types and trading platforms. As a relatively new player in the market, Sage FX continues to evolve, adapting to the needs of its clients and the dynamic nature of the financial markets.

2. Regulation and Compliance Information

　　Sage FX operates as an unregulated broker, which means it does not hold licenses from major financial regulatory bodies. This lack of regulation raises concerns among traders regarding the safety of their funds and the overall credibility of the broker.

　　The primary regulatory bodies that oversee forex brokers include:

Financial Conduct Authority (FCA) - United Kingdom
Securities and Exchange Commission (SEC) - United States
Australian Securities and Investments Commission (ASIC) - Australia

　　Sage FX does not have any regulatory numbers associated with these organizations, which means it lacks the oversight that typically ensures transparency and client protection. The absence of regulation also means that there is no investor compensation fund to protect clients in the event of broker insolvency.

　　Despite being unregulated, Sage FX implements certain safety measures, such as segregating client funds from company funds to enhance security. The firm adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, requiring clients to verify their identity and provide documentation to ensure compliance with international standards.

3. Trading Products and Services

　　Sage FX offers a diverse range of trading products, primarily focusing on forex and cryptocurrencies. The broker provides access to 57 currency pairs, including major, minor, and exotic pairs, allowing traders to capitalize on various market movements.

　　In addition to forex, Sage FX offers Contracts for Difference (CFDs) on multiple asset classes, including:

Indices: Major global indices such as the S&P 500 and NASDAQ.
Commodities: Trading options include gold, silver, and oil.
Cryptocurrencies: A selection of popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

　　Sage FX continually updates its product offerings to meet the evolving demands of traders. The broker does not currently provide white-label solutions or asset management services, focusing instead on retail trading.

　　Clients can benefit from competitive spreads and leverage options, which can reach up to 1:500 for forex trading. This high leverage is particularly attractive for traders looking to maximize their potential returns, although it also comes with increased risk.

4. Trading Platforms and Technology

　　Sage FX supports the popular MetaTrader 4 (MT4) trading platform, known for its advanced charting tools and technical analysis features. The platform is available in various formats, including desktop, web-based, and mobile applications, providing traders with flexibility in managing their trades.

　　In addition to MT4, Sage FX is in the process of developing its proprietary platform, Trade Locker, which aims to offer enhanced functionality and user experience. This platform is designed to be accessible on both desktop and mobile devices, allowing traders to engage with the markets seamlessly.

　　Sage FX employs an ECN (Electronic Communication Network) execution model, which provides direct access to liquidity providers and aims for transparent trade execution. The broker's servers are strategically located to ensure minimal latency and optimal performance during trading hours.

　　While Sage FX does not currently support MetaTrader 5 (MT5), the firm has indicated plans to integrate this platform in the future, which would enhance its offerings, particularly for algorithmic trading and additional analytical tools.

5. Account Types and Trading Conditions

　　Sage FX offers several account types tailored to different trading needs, including:

Standard Account: Requires a minimum deposit of $10, with variable spreads starting from 1.2 pips.
Pro Account: Designed for more experienced traders, requiring a minimum deposit of $500 and offering tighter spreads from 0.1 pips with a commission structure.
Islamic Account: Available for traders adhering to Sharia law, ensuring compliance with Islamic finance principles.

　　Sage FX provides a demo account for traders to practice their strategies without financial risk. The leverage offered varies by asset class, with forex and metals allowing up to 1:500, while cryptocurrencies have a maximum leverage of 1:100.

　　The minimum trade size is 0.01 lots, making it accessible for traders with varying capital. Additionally, the broker has a clear policy regarding overnight fees, ensuring transparency in trading costs.

6. Fund Management

　　Sage FX supports various deposit methods, including:

Credit/Debit Cards
Cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin, Dogecoin, and Tether (USDT)
Electronic Wallets: Such as Vload and PayRedeem.

　　The minimum deposit requirement is $10 for the standard account and $500 for the pro account. Deposits are generally processed instantly for cryptocurrencies and electronic wallets, while credit/debit card transactions may take up to 5 business days.

　　Sage FX does not charge internal fees for deposits or withdrawals, which is a significant advantage for traders. However, third-party fees may apply depending on the payment method used. The minimum withdrawal amount is $100, and requests are typically processed within one business day.

7. Customer Support and Educational Resources

　　Sage FX offers 24/7 customer support through various channels, including:

Live Chat
Email Support
Callback Requests

　　The support team is available in English, ensuring effective communication with clients. While the broker does not provide phone support, the online ticketing system is efficient for addressing client inquiries.

　　In terms of educational resources, Sage FX lacks comprehensive training materials such as webinars, tutorials, or eBooks. However, the broker does offer a FAQ section on its website, which addresses common questions related to account management and trading processes.

　　Market analysis services, including daily updates and research reports, are not provided, limiting the educational support available to traders looking to enhance their trading skills.

8. Regional Coverage and Restrictions

　　Sage FX primarily serves clients from various regions worldwide, with a notable exception for residents of the United States. The broker explicitly states that its products and services are not intended for distribution to or use by any person in jurisdictions where such distribution or use would be contrary to local laws or regulations.

　　The firm operates under the jurisdiction of the Marshall Islands, where it is registered, but it does not have offices in multiple locations, indicating a centralized operational model.

　　Overall, while Sage FX provides a range of trading services and products, potential clients should be aware of the regulatory landscape and the associated risks of trading with an unregulated broker.

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