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SagaTrade Review – Is SagaTrade Scam or Legit?

SagaTrade Broker Rating
Account Types9.3
Trading Speed9.1
Customer Service9.5
Safety9.2
9.3
Conclusion
Read our SagaTrade review and learn why we recommend this broker for online trading and why it is not a scam, learn all you need to know in this SagaTrade review before you sign up with the broker.

SagaTrade Review

SagaTrade logo

If SagaTrade is not a broker that you are already familiar with, then this needs to change immediately and with good reason. This is because SagaTrade prioritizes its customers above all else and is fully dedicated to making the world of online trading a profitable, safe, secure, diverse, and productive experience that can be enjoyed by traders of all kinds and different backgrounds. This in-depth SagaTrade review will therefore talk about all of the broker’s aspects, services, functionalities, capabilities, and features in plenty of detail, which will hopefully be enough to satisfactorily convince you to give it a try.

Account options

Firstly, let us discuss the different account options available to SagaTrade’s clients. There are a whopping seven choices to select from, which is amazing, and most of the other brokers would not offer as many and would usually stick to about 3 to 5 choices at the most. We are now going to explain what each of these seven choices includes and which one might be the best option for you according to your own personal needs and preferences.

For starters, there is the ‘Bronze’ option. This one is for new traders and those who might just be starting out and do not know much about the industry. Here, you will be given access to social trading, market reviews, and also different webinars. To use this option, you will have to pay €10,000. Next, we have the ‘Silver’ account option, which includes everything that the previous option does and also advanced VOD. The cost of using this account type is €25,000. After this, there is the ‘Gold’ option, which needs €50,000. Apart from having everything that the ‘Silver’ option does, this account type also includes a personal assistant and a single risk-free trade.

If you are an experienced trader and are looking for more advanced options, then SagaTrade also offers these too. There is the ‘Platinum’ option, which requires a massive € 100,000 to use. This option has everything from the abovementioned account types plus three risk-free trades, a customized account, and access to a ‘Trading Room.’ If you have some extra money lying around, then you can opt for the ‘Diamond’ option, which needs €250,000 to use. This one includes exclusive market updates, a trading specialist, and some truly special offers. If on the off-chance that this still isn’t enough to satisfy you, then SagaTrade also has the ‘Premium’ account option, which needs €500,000, making it the 2nd most expensive choice. The main difference with this option as opposed to the ‘Diamond’ one is that here, you will also receive a dedicated account specialist, a full account overview, a premium education package, and a premium algorithmic trading system.

Finally, we have the ‘VIP’ option, which costs €1,000,000 to use, making it the most expensive choice. You will get everything that all of the previous account options have included when you decide to go VIP, as well as a full account overview, access to exclusive assets not found anywhere else, fully customized platforms, and a premium account manager.

For Muslim traders, SagaTrade also offers an Islamic-friendly account option, the main features of which include a completely halal account, access to webinars, regular spreads, social trading, free swaps, market reviews, and no interest.

SagaTrade website

Trading platform

Having a reliable and easy-to-navigate trading platform is of the utmost significance when it comes to trading online. As such, SagaTrade has taken all of the necessary precautions and steps necessary in order to ensure that your trading experience with the broker is as seamless as possible. You will therefore be given access to an abundance of amazing trading features, which we found to not be all that difficult to understand and use.

Some of the main highlights regarding SagaTrade’s trading platform revolve around its advanced and sophisticated technology, which makes sense as traders can use both the MetaTrader 4 and MetaTrader 5 trading platforms. This means that the trading platform is known to be incredibly fast as well as able to execute orders extremely quickly, with some observations even witnessing that the orders had, in fact, been conducted in a fraction of a single second. There is hence no need to be concerned about any requotes when you decide to trade with SagaTrade. Moreover, there is also the opportunity to automate specific elements on the trading platform. It is even possible to trade while sleeping, thanks to the successful configuration of the trading platform and the use of the autopilot mode.

At SagaTrade, having a trading platform that is completely compatible with the different lifestyles of the traders is critical, which is why the broker works tirelessly to offer its clients various useful trading tools. For added convenience, you can access the trading platform via your smartphone, and the broker has also added web-based trading. Access is possible with any device with a stable Internet connection, and you can use iOS and Android compatible devices, as well as both PC and MAC.

Trading tools

We have already touched upon the importance of having reliable and usable trading tools earlier on, but now let us expand on this factor. You see, having the right tools to trade with can mean the difference between earning amazing profits or going into a loss. This is because these tools can be used to trade in a variety of different ways, each unique to the preferences, risk appetite, budget, and overall needs of the individual traders. Surprisingly, we noticed that many brokers tend to neglect trading tools to the point that it causes the traders to suffer imminent losses, as most of these other brokers mainly try to make their websites and advertisements as attractive as possible, and they thus do not focus enough on the actual services and products, in which trading tools often need to be included. Let us now look at some of the main trading tools offered by SagaTrade in detail.

Firstly, there is the economic calendar, which is specifically designed for traders so that the broker’s clients can be made aware of all of the upcoming newsworthy events that may end up affecting the assets which are being traded with. We believe that having such an amazing tool is a fantastic way of preparing for any and all trading downturns as well as upturns that might affect the aforementioned assets.

Next, we need to talk about risk management. It is very difficult and often unwise to begin your trading journey without understanding the level of risk often associated with such an endeavor. There are so many new traders out there who believe that making huge profits is as simple as making blind investments into whatever the most popular asset type would be at any given point in time. However, these individuals usually end up suffering massive losses simply because they failed to understand the risk. With SagaTrade, traders are provided with several trading strategies as well as trading tools that can mitigate this level of risk, in addition to being given assistance regarding the analysis of any and all activities which could be harmful if not done properly.

Online trading can also be a very unpredictable industry, as more often than not, there will be some assets that are much more volatile than others, such as cryptocurrencies. It is hence extremely important to pick a broker that provides regular alerts pertaining to price action and any key changes, as the last thing that you as a trader would need is to miss out on a seemingly golden opportunity simply because you were unaware of such a price change happening. These alerts can hence be a great difference-maker when it comes to making substantial profits, as knowing which assets to trade with at the right time is invaluable knowledge indeed.

Furthermore, there is a useful trader’s guide granted to all of SagaTrade’s clients, which provides you with all of the main basics and fundamentals of trading. Not every trader would be a seasoned veteran, and so it is imperative that you take advantage of such a guide in order to have a strong start in the online trading sector. To add to this, traders are also informed about all of the market insights and news about the leading financial markets, so you will never need to worry about being left behind either. If that is not enough, there are some useful and in-depth market analysis videos and live charts that you can also check out if you wish.

Asset index

Every great broker needs a strong and diverse asset index, and that is exactly what you will receive when you choose SagaTrade. An asset index may be defined as the list which includes all of the different tradable assets which are being offered by an online broker. SagaTrade offers a wide range of assets to trade with, and the choices are plenty, as per our observations. Whether you are on the hunt for more volatile and risky assets, or if you want to simply play it safe, this broker has you covered. One thing to note, however, is the fact that every asset that you do trade with via SagaTrade shall be in the form of a contract for differences (CFDs). With that in mind, let us now look at which assets are being offered.

To begin with, we have stocks, which are highly conventional assets. Traders often choose stocks as these are a bit safer compared to other assets such as cryptocurrencies, as when you trade with stocks, you are essentially trading a minute portion of any given company’s equity. Some of the companies’ stock available for trading on SagaTrade involves that of Tesla, Microsoft, Google, Amazon, Apple, HP, and IBM. Moreover, it is also possible to enjoy fantastic leverages on these stocks too, as well as predict the prices thanks to fundamental and technical analyses.

However, there might be some traders who may dislike trading stocks separately, and so SagaTrade also offers indices. Indices are essential ‘buckets’ containing several different stocks which belong to various companies, and certain indices may belong to the Japanese, Australian or American markets, for instance. SagaTrade offers plenty of global indices to work with should this asset type interest you at all.

SagaTrade additionally offers energies and precious metals that its clients can trade with. For energies, we observed many tradable assets such as diesel, oil, and natural gas being offered by the broker. The reason why some individuals may prefer trading with energies is due to the fact that these traders are not a fan of volatile price changes and would instead prefer something a bit more stable. As such, SagaTrade’s traders are kept up to date regarding all of the latest news regarding energies and are also given access to sophisticated knowledge and techniques.

Similarly, the abovementioned precious metals are also offered by SagaTrade as these are, in fact, some of the most traded and sought-after assets across the globe. Traders often feel safe when it comes to precious metals as it is unlikely that these are going to fade into obscurity or become totally obsolete. Gold and silver remain some of the most popular choices when it comes to precious metals.

If you want to trade with forex, this is also possible, thanks to SagaTrade. Forex currency pairs are quite easy to understand, and many traders from all over the world have an ever-increasing desire to trade with these pairs even today, making the forex market one of if not the largest global financial market today. With SagaTrade, you can trade with some of the most popular currencies, including but not limited to JPY, USD, AUD, GBP, CAD, and EUR.

Finally, SagaTrade offers the trading of cryptocurrencies, which makes perfect sense as the cryptocurrency industry has absolutely skyrocketed in popularity and usage in the last decade. No matter what specific cryptocurrency asset you may be looking for, there is a very good chance that SagaTrade will have it. Of course, the broker has already added some of the more mainstream options such as Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH).

Education

While it is true that online trading can and often has led to fantastic profits for many, this does not mean that you should rush into the industry without knowing enough about it. SagaTrade has thus offered a wide range of different educational resources and material to keep yourself occupied with, and these involve different aspects such as but not restricted to eBooks, webinars, seminars, a glossary, some helpful tutorials, and guides.

If you feel like you need someone to help you get started, then you will be happy to know that not only does SagaTrade offer a ‘Help Center,’ which can be used to discover answers to all of your burning questions about online trading, but the broker also has a ‘Trading Academy’ which provides courses meant for both experienced as well as new traders.

Safety

A broker can offer whatever it wants to its clients, but it would not matter as to how great these products, features, and services may be if a strong sense of security cannot be provided too. This is precisely why SagaTrade adheres to all Know-Your-Customer (KYC) and AML (Anti-Money Laundering) rules, regulations and policies. 

Moreover, all deposits that are made will be shifted into a secure bank, therefore also separating the money in a manner that will ensure that the broker does not use its clients’ funds to serve its own ends. The banks themselves are highly reliable and thoroughly audited, and all of the funds are monitored 24/7. Should there be any kind of suspicious activity, you will be informed immediately.

Customer support

Sometimes, you may encounter unanticipated problems while trading online. In times like these, having a reliable and fast-acting customer support team is crucial, as it can mean the difference between you being able to once again access your funds (which may have become inaccessible due to a glitch, for example) and suffering a significant loss. You would hence be delighted to know that SagaTrade’s customer support team is highly reliable, trained, and friendly, so no matter what problem you may face, you can rest easy knowing that it will be solved in no time.

The broker’s customer support team can be contacted via a live chat option, as well as by scheduling a call-back. Also, you should check out the helpful ‘FAQ’ section on SagaTrade’s website, too as you may find the answer to your problem there, which would eliminate the need to contact the customer support team and will hence save time.

Final verdict

If you have made it to the end of this SagaTrade review, then you would know by now that this is a broker that can not only be fully trusted but one that showcases all of the great things about both an online brokerage as well as the entire online trading sector itself. The website looks professional, the trading platform is advanced yet easy to use, the asset index is quite strong, the educational resources are plentiful, the customer support team is great and dependable, and we never once felt as if our safety or security was being compromised in any way when using SagaTrade’s services and features.

Ultimately, we highly recommend you check out SagaTrade because rarely do we see any broker which ticks all of the boxes. As usual, other brokers would have one or two great aspects, but some other factor or key feature would usually be lacking in some way. With SagaTrade, however, you get the total package at a very reasonable price, and the wide variety of account options means that traders of all levels can get started with minimal difficulty.

Hafsa Jabeen (Saudi Arabia)

Hafsa Jabeen is a new writer for Tokenhell, she writes about cryptocurrency trading platforms and also about recent news from the cryptocurrency and blockchain space.

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