Tredexo Review: Security Measures and Regulations
Tredexo is yet another offshore broker trying to present itself as a reputable trading company. However, we see only red flags starting from a web trader and a very high minimum deposit of 250 EUR, all the way up to undisclosed trading terms and conditions.
Read our Tredexo review and find it all out.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed brokerage|
|Owned by:||ABAX Inc|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web trader|
|Minimum Deposit:||250 EUR|
|Types of Assets:||FX, commodities, indices, cryptocurrencies, shares, ETFs, bonds|
|Free Demo Account:||No|
|Accepts US clients:||No|
Tredexo Regulations and Security
As aforementioned, we’re dealing with an offshore brokerage from Saint Vincent and the Grenadines. The owner of the Tredexo brand is ABAX Inc, established in 2019. Ever since, the company has operated without regulation. Since Saint Vincent and the Grenadines don’t have a proper financial regulator, only the FSA that redirects brokers to opt for regulation in the country of service, Tredexo is considered a high-risk broker. Of course, it doesn’t have to follow ESME and MiFID rules and keep money in segregated accounts since nobody would supervise it.
Fund Withdrawal Issues
First red flag here are the payment methods that haven’t been listed. We see a couple of logos added to the main page. However, it means nothing. Besides, the broker claims it takes 7-10 business days to process withdrawals. Also, there’s a fee to be deducted, but there’s no list of fees. And in the end, the broker gives bonuses, binding clients with bonus agreements and preventing them from fund withdrawals.
There is a term that says: “ The Company may cancel the Client’s withdrawal order, if, according to the Company’s discretion, the remaining funds (after the withdrawal) shall not be sufficient to secure open Position(s) in the Trading Account.” Simply speaking, if the company decides you can’t get your money back, you won’t get it.
After everything being said, nobody is surprised to hear many complaints regarding Tredexo withdrawals that are nearly impossible.
Besides withdrawal issues, clients are reporting problems with the platform and broker’s employees. According to Tredexo reviews, a broker offers only a web trader that has a lot of delays. On the financial market, each of these delays implies money loss. Besides, employees of the company are highly unprofessional and rude, especially after clients submit a withdrawal request.
How Does Online Trading Scam Work?
With offshore brokers such as Tredexo, it’s always the same. Clients are approached after signing up to trade on some of the ads they see. Afterwards, the support team will direct you to make an initial deposit that is never enough. There’s always a need for more money, and there’s always a better opportunity.
With brokers like Tredexo that offer proprietary web traders, many trades and market prices have changed in the broker’s favor.
If you notice something out of the ordinary while trading with Tredexo, report it immediately.
Scammed by Tredexo?
If you are a victim of the Tredexo scam or have dealt with a similar bogus operation, let us know. We will help you file a dispute and start the chargeback process.
But what is a chargeback?
It’s a way to reverse the transaction in case you have been scammed. Contact our support department via online chat and let us know what happened. We will help you beat the scammers and get your money back!
What is Tredexo?
Tredexo is an online trading brokerage without financial regulation.
Is Tredexo a scam?
Tredexo is a scam brokerage without regulation for providing financial services.
Is Tredexo regulated?
Tredexo is not regulated and operates from Saint Vincent and the Grenadines that have no regulator.