Trendex Review: Security Measures and Regulations
Trendex broker claims to serve over 300 thousand clients with a volume of over $1,270 million. However, once we went in-depth and discovered some of the things are not precisely as the broker presents, we had to wonder what else in regards to Trendex is fake.
Read our Trendex review and find out all of the terms and conditions you will have with this brokerage.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||CONSOB, CNMV, FSMA|
|Owned by:||TRND HLDS Limited|
|Headquarters Country:||Hong Kong|
|Supported Platforms:||Web trader|
|Minimum Deposit:||500 EUR|
|Types of Assets:||FX, commodities, indices, stocks, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
Trendex Regulations and Security
Trendex is an online trading brokerage from Hong Kong, owned by TRND HLDS Limited. The company was established in 2019 and ever since has been conducting a scam. Why are we so confident?
Well, for a start, the company has no financial regulations. We’ve checked the HKMA register along with some Tier1 regulators such as FCA, ASIC, and BaFin and found nothing about Trendex regulation or even their existence. Therefore, we’ve marked this brokerage as a red flag you should pay attention to.
Trendex Warnings From Financial Regulators
Traders filed enough complaints against Trendex broker for it to end on several blacklists. The first one to publish an official warning was the UK FCA.
Afterwards, we got the same warning related to the Trendex scam by the Spanish CNMV.
As the last one, Belgium FSMA warned its citizens about Trendex brokerage and fraudulent activities.
Fund Withdrawal Issues
Since this brokerage is unregulated, and we couldn’t confirm where it’s actually based (practically, we have nothing, but the website claims it’s in Hong Kong), it was not surprising to learn about withdrawal issues. Clients are complaining they have been misled to believe upgrading their accounts will lead to higher earnings since the company offers the assistance of a professional account manager. It turns out that this account manager cares only about his commission and taking as much money as possible from clients, while actual managing is not on the list of their priorities. Beware of the Trendex scam.
Trendex reviews show us how bad the opinion investors have about the company. Everyone is complaining about withdrawals, bad trading platforms, and bad terms of service. Of course, the broker offers bonuses and never tells clients they will accept not to withdraw their funds along with bonuses. Only if you bother to read small letters in Terms & Conditions, you might see that you can’t withdraw your funds, but without further explanations. Suspicious, isn’t it?
If you have any sort of withdrawal issues with Trendex, contact us immediately.
How Does Online Trading Scam Work?
Online trading scams have been highly popular ever since offshore countries and small places like Hong Kong opened their borders and accepted trading companies. In these countries, regulators don’t bother to verify who opened a company and why, making it easier to defraud clients.
Suppose you have invested 500 EUR with Trendex, made a profit, and want a payout. If the broker declines your withdrawal request, you have nobody to complain since Trendex is an unregulated scammer. Think well before opening a trading account and choose Tier1 regulated brokers since they oblige companies to form compensation funds.
Scammed by Trendex?
If you were scammed by Trendex or any other illegal scheme, you should get your money back as soon as possible. File a dispute and request a chargeback.
But what is a chargeback?
A chargeback is a way for your bank to reverse the transaction in cases of scams. For further details, contact our support via online chat to book your free consultation. We will guide you through the entire process until you get your hard-earned money back!
What is Trendex?
Trendex is an online trading brokerage without regulation based in Hong Kong.
Is Trendex a scam?
Trendex has been marked as a scam by several regulators, including Italian CONSOB and Spanish CNMV.
Is Trendex regulated?
No, Trendex doesn’t have any sort of financial regulations and provides financial services illegally.