The Sagatrade.oi (aka www.sagatrade.top) scam operated a website from 2021-2022, which has since been taken down. However, the hurt remains for its many victims. It was flagged as a scam by multiple financial regulators, including the UK’s Financial Conduct Authority (FCA) and the Ontario Securities Commission (OSC). The website claimed to be a trading platform for forex and cryptocurrency, but in reality, it was nothing more than a fraudulent scheme designed to trick unsuspecting investors out of their money.
Although this website is no longer operating, the criminals behind it are now operating other brands and websites and stealing from their ‘clients’. Cybertrace has investigated this Eastern European-based scam organisation and confirmed that the other websites it previously operated were invexler.co, winbitx.com, invexeo.com, monafoli.com, monafoli.net, aroxcapital.com and finetero.com.
According to the FCA, Sagatrade.oi provided financial services or products in the UK without authorisation. This means that the company was operating illegally and was not subject to any regulatory oversight, leaving investors vulnerable to potential fraud or misconduct. The FCA warned investors to be cautious when dealing with Sagatrade.oi and to avoid any financial transactions with the website.
Similarly, the OSC has issued a warning to investors about Sagatrade.oi, stating that the website was not registered to conduct securities or derivatives business in Ontario. The OSC has also cautioned investors to exercise caution when dealing with the website and to report any suspicious activity to their local securities regulator.
In addition to these regulatory warnings, several online reviews and reports have highlighted the dubious nature of Sagatrade.oi. A review by theforexreview.com states that the website had several red flags, including a lack of transparency about the company’s ownership and location, unrealistic promises of high returns, and a poorly designed website that looks unprofessional and amateurish.
Overall, it is clear that Sagatrade.oi was a fraudulent website. Investors should be extremely cautious when dealing with any financial services or products offered by websites such as sagatrade scam and should report any suspicious activity to their local financial regulator. As with any investment, it is important to conduct thorough research and due diligence before committing any funds to a particular platform or service.
The Sagatrade scam website claimed to offer forex and cryptocurrency trading services to investors around the world. However, the website’s lack of transparency, absence of regulatory oversight, and suspicious business practices make it a risky investment opportunity for anyone looking to trade in financial markets.
One of the biggest red flags was the website’s promise of high returns with little or no risk. According to theforexreview.com, the website claims to offer “guaranteed profits” of up to 5% per day, which was an unrealistic promise for any legitimate trading platform. Such promises should be treated with caution and skepticism, as they are often a sign of a fraudulent scheme designed to lure unsuspecting investors.
Another red flag was the website’s lack of transparency about its ownership and location. The website provides no information about the individuals or organisations behind the platform, making it impossible to verify its legitimacy. Additionally, the website’s contact information was limited to an email address, which was not a reliable means of communication for a financial services company.
Moreover, the website’s design was poorly executed, with broken links and inconsistent formatting throughout the site. This was a red flag as most legitimate financial services providers put a lot of effort into ensuring their websites are user-friendly, professional, and consistent in appearance.
In conclusion, investors should exercise extreme caution when considering Sagatrade.oi as an investment opportunity. The website’s lack of transparency, unrealistic promises, and unprofessional design all point to a high risk of fraudulent activity. If you have already invested in Sagatrade.oi or suspect that you have been a victim of a financial scam, you should contact your local financial regulator immediately to report the matter.
Cybertrace holds a great deal of evidence relating to the operations of this scam organisation. Should you have lost money to this scam, contact our professional investigators to discuss your case.
Tags: invexler.co, winbitx.com, invexeo.com, monafoli.com, monafoli.net, aroxcapital.com, finetero.com
