ANSWER SageFX is an unlicensed broker even though it states offers that look too good to be true.SageFX claims to be operated by Sage Forex LLC and is supposedly located in Saint Vincent and the Grenadines. However, our search for this broker in the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA) registry did not yield any results. Moreover, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities.Regarding your question, SageFX is currently not authorized or licensed by any financial regulators to provide financial services or products. Letting this broker hold and control investors' funds or trading with them is very risky, since there are no safeguards in place to prevent fraud or theft. We would suggest investors stay away from such unlicensed brokers as SageFX and trade with fully regulated brokers.
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