Santander Exposed: Withdrawal Denials & Poor Customer Support Service Trap Traders

Scam allegations never stop for Santander, a UK-based forex broker. According to traders, its officials work in unity to trick them into investing and dupe them later. The cases of withdrawal delays and poor customer support service have been highlighted by traders on various broker review platforms. So, if you wish to partner with Santander for forex trading, think again! In this article, we will highlight the comments made by the traders here. Read on!

Top Complaints Against Santander You Should Know

Only Deposits, No Withdrawals

Santanders officials believe in attracting deposits from traders, and they manage to do so using fake promises. As the deposits come and some trading happens, its officials will take illegitimate control of the entire operations and start liquidating positions, leaving traders with nothing to withdraw.

A Police Case Registered Against Santander

Among the many complaints, we found one where the trader was persuaded to download the MT5 platform and conduct copy trading. However, the malicious marking made by Santander made the trader liquidate positions. According to the admission, the brokers website was also hacked, disallowing the trader from withdrawing. Frustrated by the turn of events, the trader filed a police complaint against Santander. Here is what he expressed.

Malicious K-Line Wipes Out Trader Accounts

There are traders who managed to withdraw earlier but later got trapped by Santander as it deployed malicious tactics to dupe traders. One trader admitted that Santander deployed K-line maliciously to wipe out almost the entire account balance. However, the officials made the trader deposit further until the balance became NIL. Here is how the incident unfolded for the trader.

The Root Cause of Problems at Santander

It is because Santander has failed to gain the status of a regulated broker. None of the competent financial authorities recognizes it for transparent forex trading. Partnering with it will only result in losses and scams for the trader. As losses mounted, the experience worsened for traders, prompting the WikiFX team to assign Santander a poor score of 3.24 out of 10.

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