FSMA has warned the public about Sagatrade (sagatrade.io). This shouldn’t be dismissed. Sagatrade (sagatrade.io) is a top regulator and doesn’t flag brokers unless there is a very good reason. We are passing this information along to you because we want you to keep your money safe trading online.
FSMA regularly releases warnings about suspected scam brokers. FSMA isn’t the only regulator that issues these alerts, and it can be a challenge to keep track of all of the alerts. ReportScamOnline experts compile these warnings, investigate each broker and generate reviews that will protect the public from financial fraud.
What Is the FSMA?
The FSMA is short for the Financial Services and Markets Authority which is given the authority by the Belgian parliament to regulate markets and ensure compliance of brokers and other financial companies. The FSMA’s warnings don’t just benefit consumers in Belgium but are relevant to traders all over the world.
What Are Some Problems with Sagatrade (sagatrade.io)?
The fact that Sagatrade (sagatrade.io) appears on the FSMA’s watch list indicates that it must have at least one of the following serious problems.
Most of the FSMA’s broker warnings deal with licensing issues. It’s likely that Sagatrade (sagatrade.io) doesn’t have any valid license or is operating in an area where it has no authority to do so. This is a serious problem and can lead to serious issues for Sagatrade (sagatrade.io).
It’s likely that Sagatrade (sagatrade.io) has misled its clients with exaggerated claims, promised returns or statements that don’t have validity. This can be a broad category, but it’s important to consider since exaggerations are often a sign of trying to trick customers.
Lack of Transparency
There doesn’t seem to be enough information about the people who run XBroker. Perhaps the names don’t seem to be correct or the address isn’t real. One detail can ring the alarm bell. After all, would you give someone the wrong telephone number or address? It’s a sign of a deeper issue.
It’s likely that customers have been restricted from full use of their accounts. Don’t trust a broker who claims that you can only use your account at certain times or can’t make withdrawals until you’ve made a certain level or returns or paid a fee.
What is certain is that customers have complained about Sagatrade (sagatrade.io) and these complaints seem valid to the FSMA. The regulator doesn’t flag brokers without investigating claims carefully, so the customers are more than likely dissatisfied with Sagatrade (sagatrade.io).
Have You Lost Money to Sagatrade (sagatrade.io)? Talk to Us!
ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid the scam brokers mentioned here and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.