Tedex Review – Five Reasons Why You Should Avoid This Broker

Tedex is just another scam broker. According to the website, this firm is owned and operated by Vermillion Consulting LLC. The company registration number is displayed and the address is registered in St. Vincent and the Grenadines. So far things look transparent, but let’s look into Tedex review a bit deeper.

Is Tedex a Broker With a Good Reputation?

Tedex is an offshore-based trading firm. The fact its headquarters are in Saint Vincent and the Grenadines puts the regulation in question. SVG is the only country without Forex and CFD regulator. Instead, brokers are directed to obtain a license in the country where they provide services.

After we’ve checked several Tier1 authorities, including FCA, ASIC, BaFin, CONSOB, and more, we found nothing.

How Unsafe Is An Unlicensed Broker?

Unlicensed brokers can never provide fund safety. These brokerages have no compensation funds, negative balance protection, and don’t keep your money in reputable banks. In fact, they can disappear with the cash at any time, and you will have nowhere to file a complaints. Beware.

Is Tedex a Decent Broker or a Scam?

Tedex is an unlicensed, offshore broker that claims to be based in St. Vincent and the Grenadines. The broker was publicly exposed by the Spanish CNMV and Belgian FSMA.

Warning From The Spanish Financial Authority CNMV For Tedex

website you can find the warning that says that tedex.co is not authorized to provide the investment services. The main regulatory body of Spain is strongly advising not to do any business with this company, because there is a great possibility that you will end up as a victim of fraud.

This warning was later republished by the Belgian FSMA, after numerous complaints.

Is Tedex.co a Regulated Company?

The company is not regulated and there is no one who can overlook their activities. This broker is not listed under any financial body of authority such as FCA, ASIC, BaFin, or any other. This is a very bad situation for the client but it makes a perfect opportunity for the scam broker to take your money and disappear.

How Unsafe Is An Unlicensed Broker

In the financial market regulation of the company is a safety shield. Meaning that regulations provide a number of measures that are very protective of the client’s funds. Every company that is licensed must keep their funds segregated from clients’ funds, they must have negative balance protection and compensational funds, etc. That is why you shouldn’t overlook this information and before you start trading always do the research!

So Is Tedex a Decent Broker or a Scam?

Tedex is an unlicensed, offshore broker that claims to be based in St. Vincent and the Grenadines. The broker was publicly exposed by the CNMV. The minimum amount for a deposit is $250 and the minimum leverage is 1:200. The company has a web based trading platform.

Traders’ Experiences With Tedex

Traders’ experiences aren’t so good, but what is to be expected from a scam? This is just one of the many comments you can find online for Tedex.co

“SCAM SCAM SCAM!!!!!! Just RUN!!!!!!! I didn´t listened to these reviews so I lost my money! A LOT OF MONEY!! They are manipulators of the worst kind, you’ll never know what hit you until all your money’s gone.”

– Trustpilot Customer

Still wanna try your luck with them?

What Platforms Does Tedex Offer? – Available Trade Software

The company has a web based trading platform and that is nowhere near the industry’s golden standard, the MT5. MetaTrader5 is the most developed software for online training, it has many features that are very useful to the clients and protective of their funds. Tedex on the other side is offering a poor online tool that serves for nothing.

All About Tedex Accounts

You can test one of the 3 Tedex account types. They are:

• Standard – 250 EUR
• Professional – 2,500
• Elite – 25,000 EUR

Only those who sign up for the Elite account can get access to the company’s automated trading system.

Tedex Broker – Countries Of Service

According to our research, the broker is mainly present in:

• Italy
• Spain
• Austria
• Hungary
• Switzerland

Tedex Range of Trading Instruments & Markets

Customers can invest in:

• Currency pairs – EUR/USD, GBP/AUD, CAD/JPY
• Indices – AUS200, DAX30, CAC40
• Shares – Amazon, Facebook, Google
• Commodities – gold, silver, natural gas

However, cryptocurrency trading is not enabled.

Tedex Trading Conditions�

Tedex trading conditions are far from ideal. This scheme firm goes against regulatory rules and decides on the spread, leverage, and everything else solely. It means that your funds are at risk.�

Tedex Leverage and Spreads

One thing that draws special attention is the leverage ratio. It goes from 1:200 and it is very risky because leverage this high is putting your investments at risk. Licensed brokers are obligated to keep the leverage ratio low and for example if the company is regulated by the FCA the leverage can’t go above 1:30.�

In addition, the spread starts at 3 pips for EUR/USD pair, which is double the industry standard.

Tedex Deposit, Withdrawal Methods And Fees

Customers can use the following methods for deposits and withdrawals:

• Debit/Credit cards
• Wire transfer
• Bitcoin

The company has no fixed fees schedule and this is highly alarming. Meaning that Tedex simply abuses clients’ rights whenever they want by changing fees. This is one of many reasons why you should stay away from this broker.

Minimum Investment Amount

The minimum amount for the investment is $250 for a micro account. Micro accounts are a good choice for beginners and for everyone who doesn’t want to risk a lot of money. Keep in mind that most legitimate brokers would require $10 for the same thing.

In addition, you will have to pay fees on every payment method, except for the crypto.

Bonuses – A Fraudulent Method

Beware of the scammers trading bonus scheme because upon receiving a bonus you would need to reach a certain minimum trading volume before there is any possibility for making a withdrawal attempt. This may sound ok, but it’s not, because in order to withdraw funds the client will be required to execute a minimum trading volume of bonus amount, plus deposit x25. This is insanely high and unreasonable, yet not for Tedex because this is a perfect opportunity for the company to lure customers in.

Scammed by Tedex Broker? – Let Us Hear Your Story

If you were scammed by Tedex contact us immediately, because still, there is something that can be done! We know how this experience can be emotionally exhausting but you must act right away. The sooner you let us know the sooner we can start the process of getting your money back. Book your free consultation with our chargeback specialists and let’s recover your funds now.