The offshore broker Tredero is apparently a scheme controlled through Cyprus. Officially Tredero is operated by Oneprime Ltd which has a dealer/broker license from FSC Mauritius. However, payments are processed through Cyprus-based MIW Solutions Ltd. Tredero also accepts clients from Canada or the EEA regions and offers a leverage of up to 1:500. As a payment gateway for credit/debit cards, SWIFT, e-wallets, and crypto, we discovered ShinePays. Be very careful with this offshore broker. The Swiss police have issued a fraud warning.
Key Data
| Trading names | Tredero |
| Business activity | Offshore forex and CFD broker |
| Domain | https://tredero.co |
| Legal entities | Oneprime Ltd MIW Solutions LTD |
| Jurisdictions | Mauritius, Cyprus |
| Authorization | FSC Mauritius with license number GB20025316 |
| Leverage | up to 1:500 |
| Related individuals | Simon Bolvig Mark (LinkedIn) Ashnah Gunesssing |
| Payment options | Credit/debit card, SWIFT, e-wallets, crypto |
| Payment processors | ShinePays, Interkassa, LetKnowPay, Virarosi, VirtualPay |
| Warnings | Swiss Police |
Short Narrative
Tredero has focused on customers in Asia, South America, Africa, and Europe. The offshore broker also accepts clients from EEA countries, although sensitive countries such as Germany, Austria, and France are not accepted.
As a payment gateway, we have discovered the anonymous ShinePays, through which customers can make deposits via credit/debit cards, SWIFT, Crypto, or e-wallets.
Compliance Check
We think Tredero is a Cypriot broker scheme. This is indicated by the payment agent MIW Solutions Ltd in Limassol.
Tredero solicits clients from regulatory regimes across the globe with a Securities Dealer license from FSC Mauritius without having a license for each. For example, the scheme accepts residents from the Baltic countries, Finland, Sweden, Netherlands, Portugal, and some other jurisdictions in the EU. Tredero is not authorized to offer financial services in these regulatory regimes.
In fact, according to Similarweb, in the period October to December 2022, a significant portion of the approximately 278,000 website visitors came from EEA countries.
Tredero offers maximum leverage of 1:500 and thus violates the regulatory requirements in most jurisdictions. Furthermore, Tredero accepts pre-KYC deposits in theoretically unlimited amounts via Crypto. This also violates regulatory requirements.
Clients of offshore brokers like Tredero are not entitled to investor compensation schemes or assistance from Financial Ombudsman Services. You should, therefore, avoid this additional risk as a trader or investor, especially in the high-risk sector.
Share Information
If you have any information about Tredero, its operators, and its facilitators, please let us know via our whistleblower system, Whistle42.
