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Tradorax – Binary Options scheme exposed and prepared for damage claims

Tradorax binary options scheme exposed
Spread financial intelligence

The binary option scam legacy is currently in almost all jurisdictions subject of legal proceedings involving attorneys of retail investors-victims, government agencies, and FinTelegram. Tradorax was one of those large and globally attacking broker scams of the binary options era that have defrauded thousands of retail investors by millions. Here are the facts about this scam.

Beneficial owners and entities

The Tradorax platform was initially launched in 2013 by Alagos Limited (Gibraltar) under the domain www.tradorax.com.

After a public warning by the Cypriot CySEC, Tradorax was operated from 2015 via AM Capital Ltd, which was founded in Anguilla and later transferred to the Marshall Islands. The sole shareholder and director of this company was the Swedish citizen Per Gunnar Astrom. The domain www.tradorax.com was also registered by this Per Gunnar Astrom.

AM Capital Ltd had the subsidiary Alpha Capital House Ltd in the UK where the British citizen Oliver George Simpson as a nominee director. In fact, the business was conducted by Per Gunnar Astrom, who received a respective Power of Attorney (PoA) in December 2014.

Tradorax binary options scheme with Per Gunnar Astrom and Oliver George Simpson
Beneficial owner Per Gunnar Astrom and nominee director Oliver George Simpson

Legal Opinion

Israeli lawyer Moshe Strugano provided the legal opinion for opening bank accounts and registering as a merchant with payment service providers. He was by far the most important attorney of the Israeli binary options operator at the time. FinTelegram has dozens of these legal opinions available for various scams.

Moshe Strugano legal opinion Tradorax with AM Capital and Alpha Capital House
Moshe Strugano’s legal opinion for Tradorax scheme

Investor warnings

In September 2017, a major report on Tradorax’s fraudulent activities appeared in the British Independent. Apparently, Tradorax has harmed thousands of small investors in the UK. As a result, complaints have been made to the UK Action Fraud Police.

Independent – fraudulently acting Tradorax

Financial market supervisory authorities have been issuing public investor warnings against the Tradorax scheme since 2014.

  • In December 2014, the Gibraltar Financial Services Commission issued a public warning against Alagos Limited, which operated Tradorax at the time.
  • In July 2016, the Australian regulator ASCI added Tradorax and AM Capital Ltd to the list of illegal brokers and issued a public investor warning;
  • In November, the Canadian Autorité des marchés financiers (AMF) in Quebec added Tradorax to its list of illegal brokers and publicly warned investors;
  • In December 2016, the Cypriot regulatory authority CySEC blacklisted Tradorax as an illegal broker.

Payment service provider

Alpha Capital House Ltd was registered as a merchant with Payobin (Payotech Ltd) of Eyal Nachum, Tamir Zoltovski and Oded Jeremitsky.

Payobin merchant application Alpha Capital House Limited for Tradorax
Merchant application for Tradorex with Payobin

AM Capital Ltd also had bank accounts with the Czech Ceska Sporitelna and the Bulgarian TBI Bank. The account details are known to FinTelegram.

Case Support – Request information

If you are a defrauded retail investor or a lawyer representing victims or alternatively a journalist or blogger you can request information from FinTelegram.

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