Ridder Trader is a CFD (Contract for Difference) broker registered in Mauritius on April 13, 2023. It primarily offers CFD trading services for forex, precious metals, indices, commodities, futures, and stocks to investors. The company is headquartered in Kuala Lumpur. Additionally, Ridder Trader does not provide services to residents of the United States, Germany, the People's Republic of China, the Hong Kong Special Administrative Region of the People's Republic of China, or anyone who may violate local laws or regulations in any country or jurisdiction.
Company Background:
According to publicly available information on its official website, Ridder Trader Ltd is the registered entity of Ridder Trader in Mauritius. As per the Corporate and Business Registration Department (CBRD) official website, the registered address is C/O LEGACY CAPITAL CO LTD, 40 SILICON AVENUE 2ND FL, SUITE 201, THE CATALYST EBENE MAURITIUS, and the enterprise registration number is C196218. As of September 15, 2023, the company's directors are BHATOO SHAKEEL, BOODHOO NAASIR-UD-DEEN, KUNDOMAL BHIMALRAM JAVESH, and NG'HWANI MARY PAUL. The specific office address is C/O LEGACY CAPITAL CO LTD, 40 SILICON AVENUE 2ND FL, SUITE 201, THE CATALYST EBENE MAURITIUS.
Ridder Trader's official website is https://riddertrader.com/, which supports Simplified Chinese and English languages. According to Whois information, the domain was registered on June 22, 2020.
The registered entity of Ridder Trader in Saint Vincent and the Grenadines is also Ridder Trader Ltd, with a registration date of June 15, 2020, and an enterprise registration number of 25924.
During the research process on Ridder Trader Ltd, it was found that its associated company is Ridder Trader Group, and its previous website was https://riddertraderltd.com, which is now defunct. Ridder Trader Group has been exposed as a Ponzi scheme and operates in an unregulated state.
Regulatory Status:
Ridder Trader claims on its official website that its registered entity Ridder Trader LTD is authorized and regulated by the Financial Services Commission (FSC) of Mauritius, with license type SEC-2.1B and license number GB23201566. Upon verification, it is confirmed that this broker does indeed possess such a license; however, the FSC only grants offshore financial licenses, and Mauritius is a relatively small nation with weaker regulatory oversight.
The Financial Services Authority of Saint Vincent & the Grenadines (SVGFSA) does not regulate, monitor, supervise, or license business companies (BCs) engaged in forex trading or brokerage activities. Its regulatory scope is limited to ensuring that BCs comply with the obligations specified in Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines, Business Companies (Amendment and Consolidation) Act, 2009. This means that the companies registered in Saint Vincent and the Grenadines have no regulatory presence.
Ridder Trader obtained its financial license in Mauritius and registered its presence in Saint Vincent and the Grenadines three years after commencing operations, which raises concerns about the safety of its trading activities.
Market Instruments:
Ridder Trader offers CFD trading in various financial instruments, including:
Forex: The foreign exchange market is one of the largest and most liquid markets globally. Investors use CFDs to trade forex pairs, aiming to profit from price fluctuations.
Stocks: Investors can trade CFDs on different company stocks through BTMarkets. Trading CFDs on stocks allows investors to go long or short on stock prices without owning the actual shares.
Commodities: Commodities play a crucial role in global markets and offer a highly volatile asset class. Traders can use them to diversify their portfolios.
Indices: Indices measure the performance of a specific sector or a collection of stocks from renowned and widely recognized companies.
Precious Metals: Precious metal CFDs, such as gold and silver, are financial derivatives that allow investors to trade based on the future price movements of these metals without physical ownership.
Futures: Futures CFDs are financial instruments that enable investors to trade based on the future price movements of underlying assets without actually owning those assets.
Account Types:
Ridder Trader offers two types of trading accounts: LIVE FLOATING/LIVE FIXED and STP/ECN. LIVE FLOATING/LIVE FIXED includes four account types: MICRO, PREMIUM, VIP, and ZERO FIXED. STP/ECN includes three account types: NO COMMISSION, ZERO SPREAD, and ABSOLUTE ZERO.
- MICRO account offers a spread of 1.8 pips and a maximum leverage of 1:1000, with a minimum trade volume of 0.01 lots and no commission.
- PREMIUM account offers a spread of 1.6 pips, a maximum leverage of 1:1000, a minimum trade volume of 0.01 lots, and no commission.
- VIP account offers a spread of 1.4 pips, a maximum leverage of 1:1000, a minimum trade volume of 0.01 lots, and no commission.
- ZERO FIXED account offers a 0-pip spread, a maximum leverage of 1:500, and charges commission based on the currency pair traded.
NO COMMISSION account offers a spread of 1.7 pips, a maximum leverage of 1:200, a minimum trade volume of 0.01 lots, and no commission.
ZERO SPREAD offers a 0-pip spread, a maximum leverage of 1:200, a minimum trade volume of 0.01 lots, and charges commission.
ABSOLUTE ZERO offers a 0.3-pip spread, a maximum leverage of 1:200, a minimum trade volume of 0.01 lots, and no commission.
Trading Platform:
Ridder Trader provides trading services to users through a customized platform called TradeEvo, available on both mobile and web. While the company claims to offer a custom MT5 trading platform on its official website, the provided links and related pages seem to be inaccessible, suggesting possible false advertising.
Customer Support:
Users can contact Ridder Trader via phone at +60 3220 19194 or email at info@riddertrader.com for customer support.
Summary:
Ridder Trader LTD is a broker that has reemerged in front of investors after a rebranding from Ridder Trader Group. This time, they have gone to great lengths to obtain a financial license from the Financial Services Commission (FSC) of Mauritius to gain the trust of investors. However, this does not change the fact that it is a Ponzi scheme, and despite efforts to distance themselves by discontinuing previously exposed companies, there are still signs of deception. The content of trading accounts provided on its official website is identical to the previous ones, and its claim of having a custom MT5 platform remains unverified due to broken links.
Traderknows advises investors to stay away from Ridder Trader LTD, as it is essentially a Ponzi scheme. Investors are urged to withdraw their funds promptly to avoid substantial losses. As of now, this enterprise is marked as a "Scam" on Traderknows.
