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Those who have invested with Tedex.co are ruing the decision. Find out why in our exclusive tedex.co review.
Tedex.co tries to emulate the TEDx program or wants investors to associate it with the program. There’s a warning from the Spanish regulator regarding the use of this platform. Tedex doesn’t offer any insightful trading features. Investors ought to stay away from the platform or risk losing everything. That’s why we are here to expose the red flags found on the platform. Learn more in our detailed TEDEX.CO REVIEW.
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Tedex.co claims to have a mission and objective on the about us page. The task is to provide excellent trading services daily to traders. But, unfortunately, that has failed as more and more complaints hit the regulator’s helpdesk.
Its vision is to provide high-quality trading solutions. That, too, is not possible as the platform blocks withdrawals. Those who sign up end up not enjoying their trading gains which is a huge letdown.
You would expect that such a platform would offer realistic trading features. But unfortunately, that is unavailable as the platform remains mute on these problems. Attempts to reach them for comment have hit a wall.
There’s no one coming out to protect the platform. You won’t see any member claiming to have withdrawn from the platform. And this says a lot about a platform claiming to offer legit trading services.
Despite their false allure, we do spot several red flags. First, the website aesthetics is off, and navigating through the website is far from straightforward. The platform tries to hide relevant details from investors.
Before you invest in any platform, we recommend doing due diligence. Try and find out what makes a platform tick. It will help create a more realistic input on what to expect. You can also read our crypto and forex reviews for more.
Advantages and disadvantages of Tedex.co
When deciding which platform to go for, you need to weigh the pros and cons. Try and find out the advantages and disadvantages of the platform. If the cons outweigh the pros, it’s best to stay away from the platform.
We are here to expose the glaring red flags found on the platform. Unfortunately, those who have invested with the platform face the same fate. None of them gets to withdraw funds. Instead, the platform takes advantage of them using several tricks.
First, the owner creates a platform where deposits and withdrawals are possible. You get to trade on the platform and even see your profits increase. Withdrawing funds from the platform requires their approval.
And that’s where the platform takes complete advantage. Investors also need to ask around regarding proof of withdrawal. If no one has proof of withdrawing from a platform, it’s best to stay away.
Here’s a closer look at the pros and cons found on tedex.co;
Accounts and tiers
Tedex.co avails three trading accounts which include standard, professional, and Elite. Each of these accounts comes with a different set of features. In addition, the platform targets other classes of investors with each account.
Let’s take a closer look at each of these accounts;
It’s the account the platform claims to best suit newbies. You have to make a minimum deposit of €250 to get started. Leverage starts at 1:50, with the account not offering any commissions. However, there’s a 15 percent welcome bonus with this tier.
You have to deposit €2,500 to start using the professional account. Leverage remains the same as the standard account. You get a double bonus on a welcome bonus at 20 percent and an account upgrade bonus at 15 percent.
It’s the most exclusive account with the platform also targeting institutional investors. There’s a minimum requirement of €25,000 with this account. However, leverage is high as the platform sets 1:300 with a welcome bonus of 30 percent. There’s an account upgrade bonus of 30 percent as well.
These accounts seem to offer fair leverage except for the Elite account. Regulators have warned investors from crossing the 1:100 threshold. With such high leverage, you risk losing a large trading volume.
The platform gains from your losses. That’s why regulators stepped in to protect investors from different jurisdictions. For example, in Europe, the maximum leverage is 1:100, while in the States, retail traders face a 1:50 cap.
Some of these accounts claim to offer automated trading. That means the platform integrates bots into its system. However, there’s no mention of it on the homepage or the accuracy. These bots have no proven allure.
Assets and trading instruments
There are four classes of trading instruments available on the platform. These include commodities, forex, indices, and shares. In addition, you get to trade your everyday household commodities such as coffee and sugar.
Traders also trade major and minor currency pairs under the forex asset category. The platform doesn’t offer exotic pairs, which help spread risks. These are why we insist on trading with a more solid platform.
Indices available include DAX, Dow Jones, and NIKKEI. These indices help day traders make a living by trading in the world’s market stage. Trading wouldn’t be profitable were it not for some of these markets.
The platform also offers over 200 shares from different companies. These include shares from tech giants such as Apple, Google, and Microsoft. You also get to trade stocks from other industries such as manufacturing and tech.
Bonuses on offer
There’s a welcome bonus on each account. These features attract most newbies to sign up with the platform. However, regulators are against platforms that seem to offer such details. These platforms will later use the bonus to ransom your funds.
The platform will insist on the member paying the bonus in full before releasing funds. Even if your account has enough balance to clear the bonus, the platform will insist on a new deposit. It’s their way of knowing when you want to clear your account.
Even after paying the bonus, the platform won’t release funds. The platform will then move to block all communication. Their last move will be to delete your account logins from their system.
The platform is anonymous, which makes it a dangerous platform. Vermillion Consulting claims to be the parent company with their registration in St. Vincent and the Grenadines. However, it’s an offshore platform with no links to CEOs or founding members.
And that makes it hard to recover funds from the platform. So hiring recovery agents will only make you lose more funds. Moreover, these agents don’t have the mandate to freeze bank accounts belonging to the parent entity.
Compliance, License, and registration Tedex.co
Tedex.co is not a licensed or regulated platform. Please stay away as it faces a warning from the Spanish regulator, CNMV.
Contact and support
There’s no forwarding address if you look closely at the contact page. This is because you can’t call the platform directly and talk to an agent. Instead, the platform avails a message board. So you are to leave a message and hope for a response.
Deposit and fund safety Tedex.co
Your funds are far from safe with a platform that fails to segregate accounts. The platform doesn’t protect the interests of investors. There’s no insurance cover for deposits made by clients.
Please stay away from tedex.co
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