Overruned broker AILEN

In early June this year, Mr. Jin signed up at AILEN who claimed to be regulated by NFA(US) and started trading. Coaxed by a signal-provider, he made several deposits that added up to over US$400,000 earlier in his investment; yet the large input failed to bring proportional profits, as he lost approximately US$70,000 in trading. Feeling much discouraged, Mr. Jin began to withdraw his money. Having successfully withdrawn US$200,000 through separate applications, Mr. Jin again applied to withdraw US$5,000 on July 27th. But unlike before, the application remained “in progress” for 3 days. Completely disappointed, Mr. Jin decided to withdraw his remaining balance on July 30th, and the application was once again ignored. Mr. Jin tried to contact the signal provider, who offered no solution besides claiming that “he was also a victim", which sounded like a lame excuse. Meanwhile, Mr. Jin also contacted AILEN’s customer service but failed to get any reply. To date, Mr. Jin still has US$16,000 in his account yet to be withdrawn. AILEN has defrauded investor by ignoring withdrawal applications and detaining investor’s capital.

What’s your opinion about the broker AILEN?

Who is Mr. Jin? Is it you and you speak about yourself from third-party side? Or it is your client? It won’t be extra to say who was his signal provider and where you found them.

I can’t really understand why people continue to fall into trap of scammers if there are plenty of trusted brokers like IB, Tickmill, Hotforex, they have years of successful work and thousands of their clients. Is it so difficult to conduct basic research before sending money to unknown people?

What does the regulator say?

AILEN holds an NFA license for generic financial services yet it is currently operating in overrun business.