Why is WikiFX warning our users about SAEN Markets？ We received a client complaint through our Exposure page https://exposure.wikifx.com/en/revelation/1.html detailing his unpleasant experience with SAEN Markets.
This is because its official website saenmarkets.com fails to load even after several attempts, on both desktop and mobile devices. This possesses a big risk to its clients because they do not have access to their trading funds and trading accounts let alone a customer support team to seek help from.
Saen Markets gets a fairly low WikiFX score because this broker does not have much reliable information for the public.
Although SAEN Markets pridefully claims that it is licensed by the United States National Futures Association (NFA) under license number 054282, WikiFX did a thorough review and found that this license is not authorized by that regulatory body.
For more tips on identifying the underlying risks of forex brokers, read these 2 articles here:
Link to article: https://www.wikifx.com/en/newsdetail/202206026004646933.html
Link to article: https://www.wikifx.com/en/newsdetail/202206141794544736.html
Now, let us take a look at the complaint that we received in regards to SAEN Markets and its ploy, alongside the evidence that was provided by the client himself.
Firstly, the client was approached by Nanako from Japan (real name: Linda from the UK) who claimed to be a successful client of SAEN Markets. She then introduced him to her uncle, Ryoko Mizutani (real name: Michael Bode from the UK) who is an analyst at Saen Markets that contributed greatly to her personal success and profits.
The client believed both of them and thought he could make huge gains under Ryoko Mizutani's guidance.
Like any conventional scammers who play the long game, they lure victims into thinking that they are on the “right track” by giving them instant benefits and advantages. In this case, the fraudster analyst gained the client‘s trust through his winning signals which brought the client’s initial capital of less than $10,000 to nearly $50,000.
When the customer wished to make a withdrawal on his profits, he was told to pay fees and taxes by a customer service representative from SAEN Markets, named Amy, over Whatsapp. Meanwhile, the “analyst” faded out of the picture because he was “coincidentally hospitalized”.
Unfortunately, the worst happened to the customer. After he deposited the money as instructed by the customer support representative, Amy, deleted her Whatsapp account entirely. Feeling hopeless and helpless, the client reached out to WikiFX for assistance to resolve this case.
Currently, WikiFX is diligently investigating this case. We are experts in handling any forex broker-related queries and/or disputes. If you have ever been treated unfairly by your forex brokers, please do not hesitate to seek help from WikiFX through the channels below:
Alternatively, visit us at www.wikifx.com or download the free WikiFX App on Google Play/App Store to get in touch with us.
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