Tedex and its Representative: Scoundrel and Nasty!!!

Tedex was registered in St. Vincent and the Grenadines by a company named Vermillion Consulting LLC in October 2021. Its official website is tedex.co looks professional but does not come with any contact number or email address. The only option for clients to contact them is by filling up the “contact us” form listed on the website.

It is a general consensus that St. Vincent and the Grenadines lacks an official financial regulator for forex and/or crypto firms. Therefore, it is an attractive location for many shady brokerage companies to establish their headquarters on that Caribbean island.

Andrea is a victim of Tedex. Her account was originally opened in March 2022 by her account manager, Arthur Evans, who communicated with her via Whatsapp +35796831491). She made three deposit transactions into her account via Binance by purchasing BTC.

In May, Andrea wanted to withdraw 2,000 Eurodollars from her Tedex trading account, which was showing a total available sum of 13,700 Eurodollars. However, her withdrawal request was not being entertained, which prompted her to seek help from Aurthur on Whatsapp.

Arthur then proceeded to ask her to pay an additional payment before she could withdraw. Andrea refused as she knew that there should not be any extra charges for withdrawing her own money. As shown in the Whatsapp screenshots provided by Andrea, Arthur spoke to her in a negative manner, demanding that payment.

Eventually, Andrea was blocked by him on Whatsapp and all communication was cut off. Since then, she could not access her account anymore.

In summary, stay away from any forex broker that does not possess any valid licenses and is not regulated by any authoritative body. Download the free WikiFX mobile app from either the Google Play or App Store, and search for a regulated and licensed forex broker that has a score of at least 7.0 and above to avoid falling into the traps of scam brokers.