SAGATRADE Forex Broker

Note: SAGATRADE's official website: https://www.sagatrade.io/ is currently inaccessible normally.SAGATRADE Review SummaryFounded/Registered Country/RegionUnited KingdomRegulationNo regulationMarket InstrumentsForex, CFDs, indices, stocks, commodities, futuresDemo Account❌SpreadFloatingLeverageUp to 1:100Minimum Deposit€10 000Trading PlatformMT4/5Customer SupportTel: +44 2039877591; +44 2039877626Email: support@sagatrade.ioAddress: 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 InstrumentsSupportedForex✔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 TypeMinimum DepositBRONZE€10,000SILVER€25,000GOLD€50,000PLATINUM€100,000DIAMOND€250,000PREMIUM€500,000VIP€1,000,000ISLAMIC/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.