SIBL
Social Islami Bank Limited16.7Regulated
IndonesiaEst. 1991FSC
1 licence
Is SagaFX a scam?
Wikilix independent safety report
0%Scam risk
High risk (unverified)Confidence: MEDIUM
2.5/5Safety rating 2.5 out of 5
No. We found no evidence that SagaFX stole client money, and the company behind it holds a genuine Indonesian futures licence that we confirmed on the regulator's own register. The reason we publish…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation3/10 · LowIdentity & transparency5/10 · ModerateWithdrawals & conduct3/10 · LowReputation6/10 · HighWebsite claims2/10 · LowOperational history4/10 · Moderate
Editorial review
Broker Summary
What Wikilix has recorded about SagaFX: its history, the licences it holds, its trading conditions and its fees.
SagaFX is a retail forex and CFD brand associated with the Indonesian company PT. SagaFX Sentra Berjangka, listed at Pusat Bisnis Tamrin City, LT.6 No.608 AD, Jl. Thamrin Boulevard, Jakarta Pusat 10230. The brand was aimed at Indonesian residents rather than an international audience.
Regulation. WIKILIX found no forex licence that can be confirmed to exist and be in force for this operator. A claim circulates that the company holds a retail forex permission from Indonesia's commodity futures authority, but no licence number, issue date or supervisory record supporting it could be established during this research, and the operator publishes nothing that verifies it. On the evidence available, SagaFX must be treated as an unregulated operator.
Corporate identity. The named entity is a real Indonesian PT company name with a specific Jakarta office address, and a company profile consistent with a locally focused futures brokerage. However, WIKILIX was unable to open an official registry record for the entity, so its registration number, incorporation date and current standing remain unconfirmed.
Offering, platforms and funding. SagaFX does not currently publish trading conditions, account tiers, platform downloads or funding channels that WIKILIX could read. No spread, leverage, minimum deposit, deposit method or withdrawal term is therefore recorded on this profile. Nothing here should be read as a statement that the broker offers, or does not offer, any particular condition.
Website status. The brand's domain no longer resolves in the public DNS, and the domain matching its published support email address is parked and advertised for sale. There is no reachable client portal, no online onboarding and no published contact page beyond a single Jakarta telephone number, one support email address and one social media profile.
Who it suits. Nobody, on the current evidence. A broker with no verifiable licence, no live website and no disclosed commercial terms cannot be assessed as a place to hold money, and existing clients who believe they still have funds or open positions should pursue them through the published telephone number and, if that fails, through Indonesian consumer and financial-authority complaint channels.
Caveats. This profile reflects what could be established at the time of research. Because the operator's own website could not be reached, several sections are deliberately empty rather than filled with unverified figures. If the operator restores a live site and publishes verifiable licensing, this assessment should be revisited.
Regulation check
Regulatory Licenses
Every licence SagaFX has in force is from an offshore regulator. Most carry no compensation scheme — each row below says what the issuing regulator actually requires.
2 of 2 checked
2Licences on record
2Confirmed on register
0Tier 1 or 2
2Offshore
How far our check got
- 2 confirmed on a register
BAPPEBTITier 3OffshoreIndonesiaNo. 19/BAPPEBTI/SP/04/2011Confirmed on registerChecked
What the register says
- Licence number
- 19/BAPPEBTI/SP/04/2011
- Register status
- Active on the register against the same licence holder.
- Effective
- Apr 1, 2011
- Expires
- No expiry shown
What our check found
The separate BAPPEBTI approval that permits a licensed Indonesian futures broker to run margined alternative trading system business, which is what retail forex trading in Indonesia sits under. Client protection: Same domestic framework as the business licence: segregated client money at an Indonesian bank, regulator oversight, no compensation fund.. Effective: Apr 2011.
Client protection under this licence
- Compensation schemeIndonesia deposit insurance covers up to IDR 2 billion per depositor
- Complaints routehotline +62 21 344 1908, email pengaduan@bappebti.go.id
- Maximum leverage1:100
These are the rules BAPPEBTI sets for the firms it licenses. They are not a statement about how SagaFX applies them, or about which of its companies would hold your account.
About Badan Pengawas Perdagangan Berjangka Komodit
Offshore regulatorGovernment bodyCompensation: Indonesia deposit insurance covers up to IDR 2 billion per depositorPublic registerTransparency: medium- Licences this authority issues
- Indonesian regulator licenses domestic futures brokers for local residents only; not suitable for global offshore CFD brokerage.
- Typical cost of this licence
- At least IDR 50 billion paid-up capital; maintain IDR 40 billion equity
JFXTier 3OffshoreIndonesiaNo. SPAB-147/BBJ/10/05Confirmed on registerChecked
What the register says
- Licence number
- SPAB-147/BBJ/10/05
- Register status
- Exchange membership stated by the company. We did not open the exchange's own member list, so this is not register confirmed.
What our check found
Membership of the Jakarta Futures Exchange. This is exchange membership, not a licence to operate a brokerage, though an Indonesian broker needs it to clear trades. It is also the approval that was reported frozen in January 2014 when the licence holder traded under its original name. Client protection: Gives access to exchange and clearing infrastructure and exposes the broker to exchange discipline. It confers no separate protection over client funds..
Client protection under this licence
- Compensation schemeClearing house guarantee fund
- Complaints routeBappebti dispute resolution & arbitration
- Maximum leverage1:100
These are the rules JFX sets for the firms it licenses. They are not a statement about how SagaFX applies them, or about which of its companies would hold your account.
About Jakarta Futures Exchange
Offshore regulatorGovernment bodyCompensation: Clearing house guarantee fundPublic registerTransparency: medium- Licences this authority issues
- Futures exchange membership; broker member; trader member
- Typical cost of this licence
- USD 1m membership & capital
Websites
Global Domains
4 domains on record. 3 active.
4 domains
Legal entities
Corporate Network
One legal entity behind the SagaFX brand.
1 entity
- PT. SagaFX Sentra BerjangkaActiveIndonesiaIndonesian legal entity named as the operator of the SagaFX brand. Registration number and status could not be confirmed on an official register.
Company registry check
Company Registration
The operating company is PT. SagaFX Sentra Berjangka, recorded on the regulator's register as a former name of PT KVB Futures Indonesia. Registered in Indonesia.
Verified on registry
- Legal entity
- PT. SagaFX Sentra Berjangka, recorded on the regulator's register as a former name of PT KVB Futures Indonesia
- Jurisdiction
- Indonesia
- Registry
- BAPPEBTI register of licensed Indonesian futures brokers
- Registered address
- Pusat Bisnis Thamrin City, Lt.6 No.608 AD, Jl. Thamrin Boulevard, Jakarta Pusat 10230 (brand era). Register now shows Menara Sun Life Lantai 21 Unit G, Jl. DR. Ide Anak Agung Gde Agung Blok 6.3, Mega Kuningan, Jakarta Selatan 12950.
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