TradeVtech (www.tradevetech.io) is part of a vast scam network attacking European consumers. Over the last couple of months, FinTelegram has issued several warnings against them. Currently, the scam is operated by Universal Services LLC, registered in St Vincent & The Grenadines. we uncovered BridgerPay as the scam-facilitating payment processer. On 30 Jul 2021, the UK FCA issued a warning against TradeVtech; the Austrian FMA followed on 13 Aug 2021, as did New Zealand FMA on 11 Oct 2021. As of 11 Dec 2021, the scam is still active, still facilitated by BridgerPay.
Key data
| Brands | TradeVtech, Universal Markets, UMarkets, UMarketsPro |
| Legal entities | UMedia LLC, UM Media LLC, Universal Services LLC, St. Vincent & The Grenadines |
| Jurisdictions | Marshall Islands, St. Vincent & The Grenadines |
| Domains | www.tradevetech.io, www.tradevtech.com, www.tradevtech.net, www.tradevtech.email |
| Payment processor | BridgerPay |
| Regulatory warnings | UK FCA, FMA Austria, FMA New Zealand, MFSA |
The Scam Narrative
TradeVtech is only one of many scams operated by the legal entities, boiler rooms, and people behind it. The same offshore entities have been running other scams such as Universal Markets a/k/a UMarkets a/k/a UMarketsPro (www.umarkets.io, www.umarketspro.com, or www.umarketspro.net). Please read this report here. The UK FCA issued an investor warning against the Universal Markets scam in March 2021. The scam is now offline and has been succeeded by TradeVtech. Both illegal brokers have been white-label mutations on the Sirix platform of Israeli Leverate.
The BridgerPay way
In our latest check on 11 Dec 2021, BridgerPay was still facilitating TradeVTech. It comes as no surprise that BridgerPay has not terminated the business relationship with the scam operator despite the warnings of financial regulators across regulatory regimes around the globe. The BridgerPay guys around Ran Cohen and Nati Harpaz do not care too much about regulators.
Report scammers
If you have any information about the TradeVtech, UMarkets, UMarketsPro, or Universal Markets scams, their entities, and people, please share it through our whistleblower system Whistle42.
