A Complete Overview of Ridder Trader: Is It a Scam or Legit?

In today's fast-changing financial markets,2022 Global top ten Large and formal foreign exchange dealers selecting a reliable and legitimate trading platform is crucial for investors. Ridder Trader, as one of the globally renowned online financial service providers, has attracted considerable attention from traders since its inception. However, with various reviews and controversies about Ridder Trader surfacing on the internet, many novice traders have raised questions about its legitimacy. This article aims to provide readers with a comprehensive overview of the Ridder Trader forex platform by analyzing its services, regulatory compliance, and user feedback, thereby assisting everyone in making a clearer judgment on whether Ridder Trader can be trusted and thus make informed investment decisions.

For reference, FTI lists the top 100 forex platforms, which can serve as a guide for choosing a platform. If a platform is not within the top 100, special attention should be paid to its white-label relationships and risk warnings.

According to FTI's query results, this platform named Ridder Trader was established in 2020, ranking 5334th globally with a safety score of 40 points. It claims to hold regulatory licenses from two countries, and there are 20 risk scan alerts associated with it.

Based on the provided information, Ridder Trader as a forex trading platform exhibits multiple warning signs and controversies, suggesting that it may not be a legal or secure option. Here is a summary of key points regarding Ridder Trader:

1. **Legality in China**: Reports indicate that Ridder Trader and its affiliated entity, Light Academy, are considered illegal in China and are suspected of illegally absorbing public deposits.

   

2. **Regulatory Status**: Although Ridder claims to hold certain regulatory licenses (such as an Australian ASIC AR license and general registration with the Financial Services Authority of Saint Vincent and the Grenadines), these licenses do not permit direct capital raising, especially for serving Chinese clients. Genuine Australian regulators do not allow accounts to be opened for Chinese nationals.

3. **Misleading Promotions**: Promotions related to the platform may contain misleading or false elements and could involve fraudulent activities.

4. **Ponzi Scheme Risk**: Some evaluation reports describe Ridder as high-risk and hint at it potentially being a Ponzi scheme, implying that the company might sustain operations by paying old investors with funds from new investors rather than through actual trading profits.

5. **Characteristics of a Capital Pool**: There are indications that the platform has features typical of a capital pool, a model dependent on continually attracting new capital inflows to operate, usually unsustainable.

6. **Compliance and Security**: The license granted by the Financial Services Commission (FSC) of Mauritius is primarily an offshore financial license with weak oversight. Additionally, the registration in Saint Vincent and the Grenadines does not offer substantive regulatory assurance. The platform does not disclose third-party fund supervision information, leaving customer funds unprotected.

7. **Historical Context**: Associations link Ridder Trader with previously problematic platforms, such as Ory Platform, further eroding trust in the company.

8. **Legal Consequences**: Individuals involved with such platforms, particularly organizers and promoters, may face legal risks, including charges of illegal business operations and illegal public deposit absorption.

In conclusion, Ridder Trader is flagged as high-risk by multiple sources, even described as a "Ponzi scheme," and is considered a suspected scam platform. Therefore, potential customers should be highly cautious with this broker and consider seeking more reliable and strictly regulated alternatives. If operating within China, any financial transactions with such platforms should be avoided, and local financial regulators should be consulted or alerted regarding suspicious service providers.

FTI's overall commentary: The outcome of the Ridder Trader platform is similar to that of Ory. Established in 2020, after the Ory platform had burst in 2019, Ridder Trader continued to use financial licenses without forex qualifications, along with the same non-recorded domain and identical website template to continue reaping benefits domestically.

The financial market varies in quality, and all investments carry risks. We must thoroughly investigate a platform before forextrustindex. To prevent fraud, start with FTI.

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