Current review of the cryptocurrency SCAM Tradexet and customer reviews.

For a novice looking to explore the world of trading, it can sometimes be difficult to navigate all the intricacies of financial markets. In the pursuit of quick wealth, individuals may risk too much, engaging in numerous transactions without the ability to control their desires. This quest for easy earnings can lead to negative consequences, especially if a person trusts the overly attractive promises of Tradexet scammers posing as professional brokers.

Unfortunately, it is impossible to prevent novice traders from visiting websites of such crypto platforms that promise quick profits without the need for significant investments or deep knowledge. New fraudulent projects will continue to exist as long as inexperienced individuals succumb to such temptations and trust their financial future to unscrupulous companies. A vivid example of such a scam is Tradexet.

Main Characteristics

According to official information, the cryptocurrency exchange Tradexet was founded in 2008 in the United Kingdom.

The developers of Tradexet claim to be among the top ten cryptocurrency exchanges in the world, but do not provide supporting data. They boast about their commendable goals, such as helping traders achieve impressive success (read as “encountering financial losses”), inspiring confidence in the possibility of increasing the capital of each trader (in reality, leading the cryptocurrency exchange participant to use information that will result in zero outcomes).

Interface and Design

Judging by the design, the creators of the fictitious organization did not pay much attention to it. There is little information about the company, and on the few pages available, traders will not find anything substantial – only standard data that lacks specificity. It looks more like template information that could be used to describe any other company.

Interesting fact: the “About Us” and “How We Work” tabs contain the same text! Apparently, the copywriters hired by the scammers were lazy and did not see the need to create new content. Additionally, the exchange’s management claims that their platform is recognized as the best place for trading cryptocurrencies and is in high demand among traders.

Technical Support

Here is where the real interest begins. There is a support address, but judging by the response speed, the professionalism of this service leaves much to be desired. In other words, investors have to wait a long time for assistance if they have questions or encounter issues while working. Although the website states that each client will receive individualized support at any time.

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    Bonus Offers

    Company representatives have developed promotions and bonuses for clients. They claim that by increasing the deposit amount by 40% of the replenishment sum, bonuses will be credited for each top-up – +40%! The same can be done with 60%. Additionally, the website states that “The number of promotional accounts is limited.”

    Customer Reviews

    The number of negative reviews online about the considered crypto firm is rapidly increasing. Their authenticity becomes evident as soon as you visit the official website. It is fairly simple (in terms of video materials, photographs, and textual content). The more time you spend on the website, the clearer it becomes that you are not dealing with a company that educates on cryptocurrency trading, but rather with a hastily assembled trap.

    Signs of Fraud at Tradexet Broker

    Today, there are numerous organizations engaged in trading digital currencies. Choosing a reliable and honest broker who will not deceive you but rather help you enter the world of cryptocurrencies is a challenging but achievable task. The scam we are examining is not easy to recognize. However, dedicating time to a detailed analysis of its activities can reveal many aspects. In the case of Tradexet, it was possible to establish:

    • On the “About Us” page of the main website, the developers claim that the company was founded in 2008. It is easy to determine that it is only 11 years old! This is a noticeable dinosaur among cryptocurrency exchanges. However, a respectable trader will not take their word for it and will conduct their own verification. This will not take much time: simply enter “Trust in the Network” in the search engine, go to the website, and enter the company name. Our analysis subject did not pass the check. It turns out it has only been around for 1291 days (data as of 09/17/2019). This is slightly over three years.
    • Unfortunately, any attempts to contact the broker’s support service will end in failure. In the “Contacts” section, there is an email address and a contact form. According to information from https://allinvesting.ru/, calling the provided number is not possible, and the form does not work. Moreover, nothing is mentioned about the legal address of the organization. Essentially, the scammers simply added a map, marking the alleged headquarters of the digital platform owner. There is no specific address, only that it is somewhere in London.
    • When cryptocurrency mafia representatives want to conceal important information from traders, they display it in the most noticeable manner. This is what Tradexet did. At the bottom of the page in small print, there is information that our analysis subject belongs to a company of the same name. It is controlled by a commission providing financial services in the state of Vanuatu (abbreviated as VFSC, offshore). However, upon checking registration lists, it is revealed that the analyzed company is not associated with the claimed regulator. A corresponding screenshot confirms this.

    Minimum Deposit Amount

    An honest cryptocurrency company that values its reputation and aims not to fall into disrepute offers conditions acceptable to traders of all levels. Before finally selecting any organization, pay attention to the minimum deposit amount it requires. The price should be reasonable and accessible. In the case of the analyzed platform, the minimum deposit is $500! Considering the current industry situation, this amount is clearly unacceptable for many.

    Fraud Scheme: What to Look Out For

    Almost all scammers develop strategies through which they lure money from people. In most cases, they do not require too much attention and simply copy templates from their fellow fraudsters. However, sometimes they stand out with a non-standard approach to planning their fraud scheme. This is what Tradexet did. As reported on https://allinvesting.ru/, they attract victims through the following methods:

    • The customer base is formed through social networks, not standard mass mailing methods. Scammers create fake accounts, presenting them as successful traders whom they have led to success. The profile is attractively designed, with stock photos and a well-written “success story” that triggers user engagement, willing to go to any lengths just to approach this image,
    • New clients are recruited through fake pages,
    • When the recruiter sees that the client is interested and shows interest, they provide the phone number of one of the platform’s analysts. After contact, the analyst begins applying psychological pressure, and the client tops up their demo account with the amount presented as mandatory,
    • Then the trading and profits period begins. However, this is not real but just a diversion. The client sees “results” and believes that everything is going well. However, when it comes time to withdraw funds, problems arise: the support service either ignores requests or delays the withdrawal moment, citing “website issues,” “technical work,” and “virus attacks,”
    • If this scheme does not work, scammers start demanding commissions, taxes, and also work with bonuses,
    • In the end, all this results in the client losing their deposit and their account being blocked.

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      Real Victim’s Story

      To understand the extent of the losses that a person choosing Tradexet may face, it is worth familiarizing yourself with the real story of a deceived client.

      A certain Roman shared his experience, stating that he met company representatives through the social network “VKontakte.” They executed their scam scheme with him, and Roman began actively trading. When he decided to withdraw part of his earnings, he was asked to pay for some insurance (which appeared out of nowhere). The client agreed and paid, but during the transaction, he was short of $60. Then he was told that he needed to top up the account again, and the operation could not be canceled. The positive aspect is that this time the investor managed to stop and cease interaction with the scammers. However, the major downside is that he lost $10,000.

      Conclusion

      Traders who understand the basics of the financial market and can distinguish