Sagellc or SageFX doesn’t have the best-designed website nor the best trading offer. So what do they have? Is Sagellc regulated? How does it operate?
Read our Sagellc review. We found it all out.
|Broker status:||Offshore Broker|
|Regulated by:||Unregulated brokerage|
|Owned by:||Sage LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Cryptocurrencies:||Yes – BTC, NEO – total 2|
|Types of Assets:||FX, commodities, indices, stocks, cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
Sagellc Regulation and Security
Sagellc is a brand of Sage LLC from Saint Vincent and the Grenadines. Since it’s an offshore broker, we’re trying to determine what is happening with Sagellc regulation. Since it’s in SVG, it should be registered with the FSA SVG and opt for the Tier1 regulation.
However, Sagellc is not registered anywhere. Not with the FSA and no Tier1 regulation such as FCA or ASIC. And that’s a red flag number one.
Fund Withdrawal Issues
Again, we have come to the same subject as with any unregulated offshore broker—fund withdrawal issues. Reportedly, Sagellc is one of those brokers that’s not allowing clients to withdraw their funds at all. Once you submit the withdrawal request, the company will simply deny it. Moreover, they will block the account, so you cannot even ask for more. And if you are thinking of calling support, better not. You will get no answer.
According to many Sagellc reviews we’ve seen, traders have a bad experience with it. As we already mentioned, the broker is not allowing clients to withdraw their funds. Now, besides that, the company is calling clients daily to invest the funds, but once they ask for a payout, all the employees will become unavailable. Do not trade with this scam. It’s not even a sophisticated one.
How Does Online Trading Scam Work?
Coming to online scams, there are a lot of ways. Every broker is different and uses its own tools to defraud clients. However, what is most common is getting clients through some of the false ads. These ads are promising you the luxury life, paid off debts, everything you could possibly imagine. After you make an initial deposit, in the case of Sagellc is $10, you will be prompted to invest more.
Sagellc is one of the companies giving clients bonuses and binding them this way not to withdraw funds before reaching certain amounts. And, of course, amounts can never be reached unless you invest more.
Do not fall for such a scam and report it immediately.
Scammed by Sagellc?
If you were scammed by Sagellc or any other broker, you should request a chargeback immediately. Bear in mind it’s a time-limited process, and you should do it as fast as possible.
But what is a chargeback?
A chargeback is the process of refunding your credit card in case you were scammed online. Contact us via online chat to get all the information about the process. We’re waiting for your story!
What is Sagellc?
Sagellc is an online trading brokerage without a financial license.
Is Sagellc a scam?
Sagellc is a scam brokerage without a trading license that cannot provide legal, financial services.
Is Sagellc regulated?
Sagellc is not regulated and has no authority to provide financial services at all.