Sagemaster has been flagged by Commission de Surveillance du Secteur Financier for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". The company specifically targets a young audience, notably through promotional campaigns on social media, by promising the possibility of earning money easily and quickly using AI-based solutions. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I have been trying to close my account with Sagemaster for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Quick verification|Multiple order types|Automated trading options|Comprehensive tools
Cons: Limited cryptocurrency options|Live chat only during business hours
I lost a significant amount because Sagemaster did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Quick verification|Portfolio tracking tools
Cons: Limited social trading features|Nothing significant
I referred a friend to Sagemaster based on a colleague's recommendation. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Demo account available|Regular platform improvements|Professional team
Cons: Website design could be more modern
I signed up with Sagemaster through a forum discussion and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Portfolio tracking tools|Competitive fees
Cons: Wait times can be long during peak hours
I am in a dispute with Sagemaster over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Easy withdrawals|Multiple order types|Intuitive for beginners
Cons: No integrated tax optimization
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Sagemaster is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Lost entire investment|Reported to authorities|Unresponsive
Several red flags with Sagemaster: (1) They promise unrealistically high returns, (2) They're not registered with Commission de Surveillance du Secteur Financier, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises
If you are reading this considering Sagemaster - run. I wish I had read more negative reviews after seeing their ad online. I thought the positive ones were real. Maybe some are. My experience over for a couple of months now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Intuitive for beginners|Dividend tracking|Fast support response
Cons: Desktop app not available on Linux|Live chat only during business hours
I had a dispute with Sagemaster and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Great customer service|Detailed reporting|Excellent charting
Cons: Email notifications too frequent|Would like more payment methods
I experienced a security concern with my Sagemaster account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Good mobile app|Multi-currency support|Fast deposits|Personal attention
Cons: Cannot customize dashboard fully