- Types of accounts
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SageFX is a legally registered Forex broker founded in 2020 in Saint Vincent and the Grenadines. SageFX accepts clients from all over the world, with the exception of the USA and some other countries where restrictions apply.
Is SageFX a regulated broker?
SageFX is an offshore Forex broker founded very recently, in 2020, but not regulated by any government agency. The broker offers a high leverage of up to 1:500, a wide range of trading instruments and the ability to make deposits and withdraw funds using bitcoins. As an unregulated offshore broker, SageFX also allows new users to register without going through the usual verification procedure, provided that the deposit is made in bitcoins, which allows you to trade Forex without giving too much personal data.
It is also worth noting that the broker is registered in Saint Vincent and the Grenadines, which is a popular offshore for registering Forex brokers. As in many other Caribbean countries, Saint Vincent and the Grenadines does not regulate the activities of Forex brokers, but instead allows them to work by simply registering as law firms.
However, SageFX reports on the site that it uses segregated accounts. This means that clients' funds are kept separate from the company's funds, and in the event of the broker's bankruptcy, they will remain safe.
As a broker specializing in the MetaTrader platform, SageFX offers the popular MT4 trading platform, which can be installed on Windows computers, used in the web version and as mobile applications for Android and Apple devices.
In addition, SageFX also promises to add an MT5 trading platform on its website, but at the time of writing this review, this platform is not yet available from the broker.
The set of tools offered by SageFX includes not only conventional currency pairs and stock indexes, but also cryptocurrencies such as Bitcoin, Ethereum and Litecoin, as well as exotic commodities such as copper, platinum and natural gas. In addition, SageFX also offers CFDs on shares of a number of European and American companies.
What types of accounts does SageFX offer?
SageFX is an STP/ECN broker that provides a single trading account, but with different groups of currency pairs. In MT4 you can see four types of symbols:
- Majors pairs have an average spread and a commission of $8 (for example, USDCAD).
- PRO pairs have low spreads with a commission of $8 (USDCAD.pro ).
- VAR pairs have higher spreads, but without commission (USDCAD.var).
- Mini pairs have a smaller lot size (1 lot = 1000) with a commission of $1 (USDCAD.mini).
This makes it easier to trade different types of pairs on the same account, which avoids the need for multiple accounts with different trading conditions. Please note that different account types are only available for Forex currency pairs.
What is the minimum deposit in SageFX?
The minimum deposit in SageFX is only $10. You can top up your account via credit/debit cards, cryptocurrencies and the VLoad e-wallet.
SageFX is a new broker with no great reputation, it is based offshore and is not regulated by any reputable regulatory body. Therefore, traders who are considering SageFX should keep this in mind and make sure that they fully trust the broker before depositing any funds into the account. Among the advantages, the broker has a good selection of trading instruments, it offers high leverage and allows you to deposit and withdraw funds using cryptocurrency, which is attractive to many traders.
Before choosing a broker, we recommend that you read SageFX reviews, as well as see our rating of Forex brokers.
|General Information of SageFX|
|Year of foundation||2020|
|Headquarters||Saint Vincent and the Grenadines|
|EURUSD Spread||0.5 pips|
|Assets||Currency pairs, indices, stocks, metals, cryptocurrencies|
|Deposit replenishment||Visa/MasterCard, VLoad, BTC|
|Payment for inaction||—|
- The year of Foundation 2020
- Head office address Beachmont Business Centre, Suite 81, Kingstown, St. Vincent and the Grenadines
- Maximum leverage 1:500
- Min. Deposit $10
- Trading platform
- Payment system to enter Debit/Credit Cards , BitCoin
- Payment system for withdrawal Debit/Credit Cards , BitCoin
- Number of trading instruments 53
- The number of CFD instruments 90
- The number of futures 3
- The number of metals 4