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SageFX Review: Abysmal Trading Platform (sagefx.com)

SageFX Review: Abysmal Trading Platform (sagefx.com)

SageFX claims to be a multi-asset forex investment platform with a perfect record. However, we know that the platform is completely hiding the fact that they are blocking withdrawals. Most of the members are now finally coming out with complaints. The experience they have had with Sage FX is the same as fraud. Without anyone withdrawing funds, it makes no sense to invest with sagefx.com. Here’s the complete SAGEFX REVIEW.

SageFX Review

About SageFX

According to their homepage, their mission is to offer technology and transparency. In addition, the platform aims to provide the best trading environment. And it begs the question of why they would block users from withdrawing funds.

At face value, the platform looks professional in every sense. We know why anyone would sign up with the platform. The aesthetics look appealing, and information is readily available. Navigation through the website is easy for all classes of traders.

Deep below their sales tag comes the hard truth, once you sign up, it all goes downhill. The platform is not responding to any emails concerning withdrawal. We have seen this before with most offshore platforms.

When looking for an appropriate investment opportunity, you should be wise in your decision. Go for expert-recommended products and service providers tested by professionals. Today’s investor wants a sure way of earning real profits.

Sage FX does what most offshore platforms do, offer a trading platform without the results. We believe the people behind it also have other similar services. You should be on the lookout for similar websites and avoid them.

One way of doing so is by joining a reputable investment platform. You should do due diligence and find out what other investors have faced with the platform. An excellent example is reading our reviews on crypto and forex-related products.

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Accounts SageFX

SageFX does a poor job of giving account feature details. The platform offers two account types as listed on their trading page. These accounts include Standard and Pro. Here’s a closer look at each of the two accounts;

Standard

For this account, sagefx.com accepts small deposits. There’s no mention of the minimum acceptable deposit. And this means they are targeting newbies for this account. The platform will accept any amount.

You should know that the industry has set the minimum acceptable deposit at $250. There are regulated platforms that accept less than that. If Sage FX is asking for a higher amount, they violate trading rules.

Pro

The pro account comes with a minimum acceptable deposit of $500. You get 24 mini-pairs, and the account has no commissions. Margin call and stop-out levels are 100 and 70 percent, respectively.

With the pro account, you get five classes of assets. These include commodities, crypto, forex, indices, and shares. Sadly for members, sage FX does not inform users of the available leverage and spreads.

SageFX Account Types

Affiliate and referral program

It would be best if you thought twice before joining their affiliate account. The issue is that you will be held responsible for all the problems your referred member faces. And this means they will lay the blame on you for directing them to a false trading platform.

The platform does not even list whether they pay affiliates in commissions, percentages, or rates. There’s a lot of missing information on what affiliate partners get. It’s best to stay away and join reliable platforms to make passive income.

Available trading platform

One of the few interesting features of the platform is its trading terminal. The platform offers an MT4 trading platform which is ideal for investors. With the platform, you can learn a lot and increase your skills.

And this also means you can even make better trading decisions. The platform offers advanced tools and price alerts. Sadly for you, even after making successful trades, withdrawing is an issue. No one gets to withdraw from the platform.

Business holder

From what we have seen, Sage FX wants to remain anonymous. There’s no information on staff members of the people who own the platform. With anonymity comes the ever-increasing risk of losing funds.

No one knows who is held responsible for funds on the platform. There’s no company address or phone number on their platform. Most investors don’t bother to check for such. And these are some of the glaring red flags found on the platform.

Contact customer support

As we mentioned earlier, the platform does not offer members any direct contact. There’s no phone number one can use to contact the broker. You only get a message and ticket submission board.

We know Sage FX is hiding this vital information to try and control the communication process. None of the people working behind the platform want to be exposed. And this is why making contact is next to impossible.

Demo account

Another advantage the platform offers to investors is a chance to test out the platform. With a demo account, you can test the platform. And this allows you to know more about trading, especially if you’re a newbie.

With the demo account, you can check how best to make trades and the right time. When investing, make sure to check whether a platform offers a demo account. We are glad they offer a demo account with an MT4 terminal.

Funding accounts

Account funding Sage FX

You can only fund your account using bank and wire transfers. Despite offering crypto assets, there’s no way of depositing funds with crypto channels. Once you deposit funds, the amount will reflect on your trading account within 24 hours.

And this is meant to ensure you can deposit more funds before trading. Then, you can immediately start trading and making successful trades. After that, it all goes downhill as your first withdrawal will be your last.

In the past few weeks, no one has been able to withdraw funds completely. Those who claim to do so only withdraw small amounts. The platform wants to use them as proof you can withdraw from the platform.

License and Registration SageFX

Sage FX is not a licensed platform and does not offer any proof of being regulated. If sagefx.com were regulated, they would post copies of their license certificate. Sadly, it’s not the case as no one knows their jurisdiction.

Without any regulatory framework, such platforms are free to operate as they please. And this is why there’s no mention of available leverage and spreads. Industry regulators have put a cap on maximum leverage at 1:100.

When looking for a viable investment platform, go for one regulated by a reputable institution. These institutions include ASIC, BaFIN, CNMV, CONSOB, CySEC, FCA, and the SEC. The regulators ensure all parties adhere to trading regulations.

Safety of funds with SageFX

There’s no safety of funds from a platform that fails to offer investors a safety net. Without any compliance, it means they don’t deposit the minimum required amount with regulators. Instead, the deposit acts as insurance cover for deposits.

License Status Sagefx.com

In the event of bankruptcy or insolvency, members won’t get any compensation. And this is what makes the platform a high-risk investment platform. So we suggest you stay away from it or else risk losing your investment.

Why we don’t recommend Sage FX

These are the reasons why we don’t recommend Sage FX

  • A lack of compliance from regulators
  • Contact from support is minimal
  • Security of funds
  • Withdrawal issues

Now you know why not to invest with sagefx.com

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