Tedex.co Review – Why Is the Tedex Broker a Scam?
The Tedex broker shares its Saint Vincent and the Grenadines address with many scam firms including AZAForex, BullsonTrade, OrbiTrade, etc. All of these firms are unlicensed, and they chose SVG for their headquarters since it lacks a financial regulator that regulates Forex and binary options firms.
You’ll see that Tedex is no different from other brokers once you read our detailed Tedex review.
Our updated reviews of BitcoinEra, InterCapital, and BitTrust scam brokers are also available for you to read.
- Status of the broker: offshore scam broker
- Registered with: Unlicensed Trading Company / Unregulated
- Websites used by scammers: Tedex.co
- Forex Trading Scam: Active
- CNMV / FSMA blacklist: scam
- Owner of the broker: Vermillion Consulting LLC
- Country of headquarters: Saint Vincent and the Grenadines
- Funding Year: 2021
- Platforms for online trading: WebTrader
- Web-based mobile trading / No mobile app available
- No Welcome Bonus / Deposit Bonus: 15-30%
- Trading Crypto Assets: Not available
- CFD Trading Option: Yes, CFDs can be traded
- Trade on Forex (FX) / Commodities / Indices / Shares
- Leverage maximum: 1:300
- The Islamic Account is not available
- Demo Account: No, only live accounts are available
- US traders are accepted: US traders are accepted
- Fraud Protection Team: Avoid this scam, broker!
Tedex Regulation: Is the Broker Legit?
Vermillion Consulting LLC operates Tedex Forex broker in Saint Vincent and the Grenadines. The company was incorporated in October 2021.
Although the Caribbean island does not have a financial regulator, companies are directed to obtain licenses in their country of operation. It’s precisely for this reason that many scam companies have opened their headquarters there due to a lack of regulatory oversight.
Warnings Against Tedex Fraud
In a warning against the Tedex trading scam, the Spanish regulator CNMV and Belgian regulator FSMA issued official warnings.
Official Warning Issued by CNMV – Evidence of Fraud
After checking, CNMV concluded that the broker was not authorized to provide investment services based on Tedex complaints.
This is, therefore, official proof that the broker is a cyber-fraud.
Where Is Tedex Trading Scam Active?
The Tedex trading scam is mainly active in the following areas:
- Italy
- Spain
- Austria
- Hungary
- Germany
Those are all EU countries, so clients from this area should be extra cautious since they appear to be the primary target.
How Does This Scam Broker Contact Victims?
To contact current and potential clients, an unsolicited broker like Tedex can use various methods. Following client sign-up, it is common practice for the firm to contact and email them repeatedly. Regardless of how often you ignore the calls or block the number, they will always find a way to contact you.
The recent past has seen victims approached via WhatsApp and Telegram. Furthermore, Tedex may contact you regardless of which offshore firm you have signed up with. Typically, scam brokers convince clients that selling databases between each other can help them recover stolen money.
You may be contacted via social media – Facebook and Instagram messages – if you have never left your information on a trading platform. There are scammers on dating apps like Tinder, Bumble, and others.
They will never meet you in person, but they will maintain contact long enough to earn your trust, and then ask you to invest.
Did Tedex Broker Scam You? – Start the Chargeback Process
Please let us know if you have been a victim of the Tedex scam. Chargeback specialists at Global Fraud Protection handle fraudulent brokers. Our goal is to help you and ensure that you receive a free, honest evaluation of your case.
Get in touch with us immediately, and let’s get started immediately.
You can also read our Amplixx Broker Review.
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FAQ Section:
What Is Tedex, and Should I Invest Money In It?
Tedex, a company based offshore, offers Forex and CFD trading services. In light of the firm’s lack of trade license and the withdrawal issues, we recommend contacting us immediately to request a refund.
What Is the Tedex Minimum Deposit?
To open an account with Tedex, a minimum deposit of 250 EUR is required.
Can I Trade Cryptos and CFDs With Tedex Broker?
Cryptocurrency cannot be traded, only CFDs on commodities, shares, and indices.
Does Tedex Have a Mobile Trading App?
It is not possible to download Tedex on a mobile device. The login process is done through a web browser and the WebTrader platform.
Does Tedex Offer a Demo Account?
There is no Demo account available at Tedex broker; you must invest immediately.