Saba Capital Management has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". This entity is not connected and should not be confused with legitimate company Saba Capital Management L.P. (CIK#: 0001510281) of 405 Lexington Avenue 58th Floor New York New York 10174 registered in Delaware USA DOS ID 3792350.
Phones: 81 928863
Addresses: Golden Centre 188 Des Voeux... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: sabahkllc.com.
Saba Capital Management has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Regular platform improvements|Demo account available|Customizable dashboard
Cons: Website design could be more modern|No fractional shares
My card was charged twice by Saba Capital Management on the same day. I had to dispute it with my bank. Saba Capital Management then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Tax reports included|Market news feed|No hidden fees
Cons: Could offer more webinars
After since last summer with Saba Capital Management I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: No hidden fees|Quick verification|Demo account available|Easy withdrawals
Cons: Inactivity fee applies after 12 months
Saba Capital Management advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: API access|High security standards|Smooth onboarding
Cons: Limited cryptocurrency options
Saba Capital Management has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Multi-device support|API access
Cons: Limited cryptocurrency options|Minor UI glitches occasionally