In the world of online trading, it is crucial to choose a reputable and trustworthy broker to safeguard your investments. Unfortunately, there are fraudulent entities that attempt to deceive unsuspecting traders. Saen Markets is one such broker that has raised concerns among investors. In this article, we will provide an in-depth review of Saen Markets.
Company Overview
| Broker Name | Saen Market |
| Website | https://saenmarkets.com/en/ |
| Location | UK |
| Regulation | Not regulated |
| Reviews | Negative |
Team
Unfortunately, Saen Markets lacks transparency regarding its team members. The absence of a clear and verifiable team profile raises red flags and casts doubt on the broker’s credibility.
Services or Products
Saen Markets advertises an array of financial services, including trading in stocks, commodities, indices, and cryptocurrencies. But, there were no details about these products and services. They should provide the trading method, policies, and other details.
Trading Platforms
Saen Markets does not provide clear information about its trading platform. They claim to offer a robots and user-friendly platform. But we did not see any demo or demonstration of their platform.
License and Regulations
License Status
Saen Markets claims to be licensed, but upon investigation, there is no concrete evidence or regulatory body associated with the broker. This lack of a verifiable license raises serious doubts about the legitimacy and trustworthiness of the company.
Regulation Status
In addition to the absence of a license, Saen Markets also lacks regulation by any recognized financial authority. They claim they have regulation with NFA and their license number is 0542842. But, we did not find any result upon investigation.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers poses significant risks to your investments. Unregulated brokers often operate outside legal boundaries, making it challenging to hold them accountable for any fraudulent activities. Investors who fall victim to scams by unlicensed brokers may find it difficult to recover their funds, as there is no regulatory body overseeing the broker’s operations.
Legal Warnings Against Saen Markets
Several financial regulators and authorities have issued warnings against Saen Markets. The FCA and FNMA issued warnings against this broker.
Client Feedback About Saen Markets
About Their Trading
Traders who have had experience with Saen Markets report several concerns about the broker’s trading practices. Some have complained about significant slippage, unexpected margin calls, and suspicious price manipulation. These issues raise serious doubts about the broker’s integrity and raise red flags for investors considering trading with Saen Markets.
About Their Customer Service
Traders have reported difficulties in reaching support representatives, delays in response times, and inadequate assistance when dealing with issues. This lack of satisfactory customer support further reinforces concerns about the broker’s reliability and commitment to client satisfaction.
How Can Reviewsadvice Help You If You Get Scammed?
If you get scammed by this broker, you can contact us. You can submit your case through our website form. We will then evaluate your case and will provide you with a free consultation. In this consultation, we will tell you the process of recovering the money and also suggest some good recovery companies that can help you in recovering. If needed, we can help you with legal help too.
Final Thoughts
When it comes to online trading, it is crucial to exercise caution and conduct thorough research before engaging with any broker. Saen Markets, with its lack of transparency, licensing, and regulation, raises significant concerns about its legitimacy. The absence of a verifiable team profile, negative client feedback, and warnings from financial authorities all point to the potential risks associated with this broker.
