Is a scam?

Cybertrace is issuing an urgent scam alert for a forex trading scam operating under the name Our analysts are aware of multiple victims who have lost hundreds of thousands of dollars. Fortunately, Cybertrace holds valuable intelligence on the scam syndicate. Contact our experienced analysts today to discuss how we can help. If you are wondering “is a scam”, the answer is a definite “yes”! Since these scammers run a fraudulent operation, do NOT invest any money with them. If they have managed to scam you already, don’t feel embarrassed or blame yourself. Like similar forex trading scams, they run a sophisticated operation that is built to deceive. Let’s look at the clues that show us that is a scam using a fake website.

Unregistered and Unregulated

One of the first things to look for is whether a company is actually who they say they are. On its website, TredoFX claims that it is “well-established, fully licensed and regulated”. While it provides a UK address and phone number, a search of the UK Government’s official Companies House website does not return any results for that name. In its Terms & Conditions, on the other hand, TredoFX claims that it is governed by Estonian law. Again, a search of the eastern European country’s companies register produces no results. Finally, TredoFX does not state which regulatory authority it falls under. Predictably, a search of the UK Government’s Financial Conduct Authority’s Financial Services Register also comes up with nothing. As for the question, is a scam: the signs so far clearly indicate yes, it is a scam. But let’s see who runs the company.


Another red flag is the complete absence of any personnel information on the website or social media accounts. Even though TredoFX claims to have 113 employees, we don’t actually know who owns, runs or works for the company! Likewise, there is zero social media presence: as far as LinkedIn, Facebook, Instagram and Twitter are concerned, TredoFX doesn’t exist!

Despite its claim to have started in 2010, official records show that TredoFX only registered its domain in October 2019. In doing so, it used an Icelandic private domain registration company in order to hide the owner’s identity. Finally, a simple Google search won’t list the TredoFX website as a result – you will only find it by clicking on a link or directly typing its web address into your browser. By hiding it, the owners prevent the search engine’s bots from archiving the website, thus making it easier to disappear later. Is a scam? It’s getting obvious that it is a scam, but let’s see what experiences other people have had.

No or Bad Reviews

What has been others’ experience of The company boasts of having 226,422 customers and 214,923 winning trades (a number that remains surprisingly constant!). Despite these astonishing numbers, there are hardly any reviews on independent sites such as Trustpilot and Personal Reviews. Furthermore, any reviews and comments that do exist are all negative! While reviews should never be taken at face value, this is a pretty damning picture. So, is a scam? Our verdict is clear: yes, TredoFX is a scam! But how does it work?

TredoFX’s Modus Operandi

Like other forex trading scams, TredoFX follows a familiar pattern. First, the fraudsters lure in potential victims via third-party affiliate marketing, cold calling, or romance baiting. The highly persuasive scammers convince targets to make an initial deposit, promising high returns through their automated trading software. After the initial investment shows a huge “win”, victims feel encouraged to plough substantial amounts of money into the scheme. While TredoFX’s fake accounts show continual gains, problems start to appear when anyone wants to withdraw their funds. If they respond at all, the scammers will come up with excuses to delay until six months after any investment. This just so happens to be the expiry period for any credit card charge-back options due to fraud! They might also ask for payment of fees and “taxes” before allowing any withdrawals. Do not be fooled – this is simply a way to scam even more money!

What can I do?

There are three things you can do to fight the scammers at The first one is the most obvious: do not give these frauds any more of your money! Your initial “investment” has already gone straight into their pockets. Paying any kind of “fees” or “taxes” in order to withdraw your funds is simply throwing good money after bad. Don’t do it! Secondly, if you paid them with a credit card in the last six months, contact your bank/card provider immediately. They can perform a charge-back due to fraudulent conduct and you should get your money back. Don’t use an expensive third-party service for this – talk directly to your bank. Finally, if it has been more than six months or you didn’t pay with a credit card, fear not! Cybertrace holds valuable intelligence on the scam syndicate. Contact our experienced investigators today to find out how we can help!


More To Explore

NFT Scam Investigation

NFTs, or non-fungible tokens, have been all over the news in recent months. Whether it’s celebrities endorsing pictures of cartoon apes, California teenagers being arrested

Online Dating Investigations

Whether you want peace of mind or proof of wrongdoing, Cybertrace offers premium social media and online dating investigations. There are many scenarios where our

Scam IP address warning

Scam Website Alert Cybertrace investigators have identified an IP address of with a high number of confirmed scam websites. There are over 600 web