Ridder Trader Group Review – Many Signs Pointing Out Potential Issues
Ridder Trader LTD is registered in 2020 with the idea to provide FX and CFD services worldwide. They claim to be regulated by trusted ASIC and FSC. Yet, the company complies with the laws of St. Vincent and Grenadines and one of the addresses presented is in Malaysia.
In general, it sounds complicated, but it’s very easy. Keep reading this unbiased Ridder Trader Group Review and find out if you can trust your money to this broker or not.
Some general words about Ridder Trader
Ridder Trader Group tries hard to build its reputation. One of the ways to build that is to have trusted licenses. Or to lie about it, like in the case of this broker. But even if the license is legitimate, they offer highly suspicious features.
On the contrary, trusted brokers are easy to recognize. Check our VoyaFX review and see what we are talking about.
| Broker name | Reliable Broker Must Have | |
| Legal name: | Ridder Trader LTD | Transparently displayed in the disclaimer or legal documents |
| Regulation: | Regulated / Offshore broker | Within your legal jurisdiction – local regulator |
| Registered in: | St. Vincent and Grenadines | Your country or the country whose license applies in your legal jurisdiction |
| Established: | 2020 | The older the domain – the higher the possibility the company is trustworthy |
| Website: | Riddertrader.com | Domain should be from local or international zones, no .xyz etc. |
| Financial Authorities Warnings: | N/A | None |
| Contacts: | Phone, e-mail, live chat | Phone, email, social media, web form |
| If a withdrawal is possible: | Highly unlikely | Yes |
| Fees: | Spreads from 3 pips and commission up to $43 per lot | Transparent fees – list of spread and commissions |
| If Active on Social Media: | No | Often present on social media |
| Investor Protection: | None | Compensation fund |
Regulation info
Firstly, we have to notice that the broker is openly lying about ASIC regulations. Ridder Trader Group or Ridder Trader Pty Ltd is not in the ASIC register. But also, it’s not listed in any other Tier 1 group of regulations like FCA or BaFin.
Instead, they just obtained low-tier regulation from the FSC (Mauritius) in April 2023. Yet, the MC Name belongs to LEGACY CAPITAL CO LTD. Possible another fake statement of this broker.
Ridder Trader Profile
The company offers a highly suspicious TradeEvo app. Thus, the page with more information about the software doesn’t exist. In fact, there is a download option but it’s a shady file with RidderTrader setup. Have in mind that Tier 1 licensed brokers offer transparent access to the software. Most importantly, trusted ones like cTrader or MetaTrader.
Also, one of the important features this broker offers is a PAMM account. This, with the leverage of 1:1000 and without negative balance protection, it’s extremely risky!
| Trading platforms: | TradeEvo |
| Account types: | Live floating, Live fixed, STP, ECN |
| Financial Instruments On Offer: |
|
| Maximum leverage: | 1:1000 |
| Minimum Deposit: | N/A |
| Commissions/bonuses: | $18/Lot on EUR/USD
$18/Lot on USD/JPY $23/Lot on GBP/USD $23/Lot on USD/CAD $23/Lot on USD/CHF $23/Lot on EUR/GBP $23/Lot on AUD/USD $28/Lot on EUR/CHF $28/Lot on NZD/USD $28/Lot on EUR/JPY $43/Lot on GBP/CHF $43/Lot on GBP/JPY
Up to 100% bonus |
| Mobile app: | Not available |
| Desktop app: | Yes |
| Autotrading: | Available |
| Demo account: | Not available |
| Education or Extra tools: | None |
Is This Broker Safe?
Definitely not. Ridder Trader Group regulation doesn’t require this broker to have segregated bank accounts for deposits, compensation schemes or negative balance protection.
Unlike other Tier 1 regulations like FCA. On top of that, they offer leverage that doesn’t comply with ASIC regulations (which they claim to offer). But also bonuses that are widely banned due to malicious policies.
How Ridder Trader Platform Reach Clients and Who Are They?
Considering their promises about auto-trading most likely they offer quick money schemes on social networks. This way they are fishing inexperienced traders and sell them fairy tales. With shady software and a shady Ridder Trader Group license, they can easily manipulate traders.
Research says that the Ridder Trader Grup scam is mainly active in:
- Malaysia
- Indonesia
- Japan
- Thailand
- Australia
We honestly advise you not to fall for cheap tricks. Let us help you find a trusted and highly secured broker for the best trading experience! One of the representatives of good brokers you can find in our FP Markets review.
Deposits and Withdrawal Methods
Another key warning sign is the missing legal documents. In fact, the company doesn’t reveal any information about funding methods, processing time, clauses or fees.
They even have bonuses with specific T&Cs applied. Yet, those are not revealed anywhere. To make it even worse, not even Ridder Trader Group minimum deposit is revealed.
Reasons To Avoid This Company
The main reason to avoid the broker is that they are misleading you to believe they are regulated. In general, they are building fake credibility and it’s just a matter of time before they will be exposed by regulators. On top of that, they serve you with very expensive trading conditions, shady software and no protection at all!
Our Safe Trading experts’ opinion of Ridder Trader
Without transparent legal documents and withdrawal policies, you may as well put money on roulette. The chances of getting anything back are way higher there. Instead of risking your hard-earned money, you can be patient and find yourself a trusted broker to be by your side.
If you don’t know where to start or how to recognize a good broker, feel free to contact us. With our expertise, we can easily find you the best options. Most importantly, you don’t have any obligations. Ultimately, the decision is yours but at least you will know what to look for. Contact us now and book your first appointment!
FAQ Section
What Is Ridder Trader Group?
Ridder Trader Group is a shady brokerage offering trading services with fake credibility.
What Is Ridder Trader Group Regulation?
After checking and confirming their lies about ASIC regulation we can only doubt they are regulated by the FSC (Mauritius) as they claim. No precise connection is available.
What Is Ridder Trader Group Minimum Deposit?
The minimum deposit is not revealed by the broker. A huge warning sign and to avoid these tricks contact our team to find a reliable and Tier 1 licensed broker.
