SageFX is a legally registered forex broker located in the Saint Vincent and the Grenadines, but not regulated by any government agency.
SageFX accepts clients from all over the world, excluding some countries where restrictions apply.
Forex broker offers the following underlying assets for trading.
|50+ Currency Pairs||Based on major and minor world currencies.|
|12 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Ripple, OmiseGO, Santiment, Monero, Zcash, IOTA, NEO.|
|8 Indice CFDs||Based on baskets of different blue-chip stocks and US Dollar Index.|
|4 Metal CFDs||Based on Gold, Silver, Platinum and Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|60+ Stock CFDs||Based on shares of US, UK and EU companies.|
Established as recently as in 2020, SageFX is a new offshore-based forex broker that offers high leverage of up to 1:500, a wide range of trading instruments, and the possibility to make deposits and withdrawals using bitcoin. As an unregulated offshore broker, SageFX also allows new users to sign up without going through the usual ID verification procedure as long as the deposit is made with bitcoin, making it possible to trade forex without giving up too many personal details.
Worth noting is also that the broker is registered in Saint Vincent and the Grenadines, which is a popular offshore country for forex brokers to register in. As in many other Caribbean countries, Saint Vincent and the Grenadines does not regulate forex brokers, but instead allows them to operate from the country by simply being registered as legal companies.
As a broker dedicated to the MetaTrader platform, SageFX assigns all traders to the popular MT4 platform, which is a classic downloadable trading platform for Windows computers. In addition to the downloadable version, however, the platform is also available in a web-based version that can be used across both Macs and PCs, and as mobile apps for Android and Apple mobile devices.
Further, SageFX also promises on its website that MetaTrader 5 (MT5) is coming up as an option shortly, but at the time of writing this platform is not yet available from the broker.
A real strength of this broker is the range of instruments it offers. This includes not just the usual forex pairs and stock indices, but also crypto pairs like bitcoin, ethereum, and litecoin, as well as exotic commodities like copper, platinum, and natural gas. In addition, SageFX also offers stocks from a range of both European and American companies for those that enjoy stock trading in the form of CFDs.
Spreads on the most liquid trading instruments like the EUR/USD and other major forex pairs starts from 0.1 pips. As with most forex brokers, the standard order execution with SageFX is STP (straight through processing) execution with no commissions, and revenue instead collected by the broker through the slightly wider spreads. For larger traders, however, an option to trade with commissions and lower spreads still exists by choosing symbols marked with VAR in the trading platform.
As a fairly new broker, we have to admit that it appears some key pieces of information are still missing from its website. For example, the broker advertises 24 hour customer support, but there is no phone number to be found anywhere on the website. Similarly, the broker also says that it can be reached via social media, yet no social media accounts are listed anywhere on the website. There is, however, a working live chat function on the website, which currently is available for support in English and Vietnamese.
On a final note, we would like to stress that SageFX is still a very new broker without much of a track record, it is based offshore, and it is still not regulated by any reputable regulatory agency. Traders who are considering SageFX should therefore keep these things in mind, and make sure they fully trust the broker before depositing any funds with it.
With that said, however, the broker does have a good selection of trading instruments, offers high leverage, and allows for deposits and withdrawals via cryptocurrency, which we know is something many traders find attractive.
The Commission is too high. If I close a trade at $0.20 Commission is $0.40 that means I closed at -$0.20 and I didn't make anything on that trade. I seen reviews that this was the best broker but no reviews on high Commission rates. As your trade gets bigger the Commission gets bigger making it that the broker makes more than you when you close trades I would think that if you're doing all the work you're supposed to make more than the broker.
Great support, low spreads and fast execution with SageFX. Funding to and withdrawing from accounts is easy and without fees - everything a trader is expecting!
Their ECN offering is the real deal. I have had winning trades busted with other brokers because I had "insider knowledge". I never had a fill issue or any trading strategy questioned by Sage FX. Their market insights on social media are interesting reads for me too. I will update my comments should I have any issues with them in the future.
I'm using MT4 with Sage FX and my experience has been excellent. They really know how to professionally communicate with clients and it makes a big difference. Very transparent layout in the client portal, easy to deposit/withdraw. Would recommend.
I was also recommended to use Sagefx by a friend. Very happy so far. Super efficient customer service and quick deposit and withdrawl procedure. Crypto spreads are awesome.
These guys were recommended to me by a close friend. Sage FX is the best broker I have used in 15 years of trading. Tight spreads, quick withdrawals and professional 24/7 customer service.