Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighGenuine FSC Mauritius Investment Dealer licence since Oct 2025 for one company; some clients are served by an unlicensed Armenian LLC, and the Bank of Russia lists the former domain.
Identity & transparency
6/10 · HighLicensee name and address match the register, but the site names the operator three ways and says the contracting company depends on residence; owners of the Mauritius company are not disclosed.
Withdrawals & conduct
5/10 · ModerateAbout 14 fund-related complaints on two platforms since June 2025, mostly pending or rejected withdrawals; pattern unconfirmed, and Trendo replies publicly.
Reputation
6/10 · HighTrustpilot 4.3 from 163 reviews but bimodal, with many one-line five-star posts; app stores 4.8; listed on a Bank of Russia warning list.
Website claims
8/10 · CriticalClaims licences in several countries (it has one), calls an Armenian charter change forex authorization, and in 2025 called a dormant UK company and a Saint Lucia company regulated.
Operational history
6/10 · HighBrand traceable to Aug 2020, but the licensed company dates from 2025, two entities were dropped and the domain changed in July 2026.
Who they are
A quick desk file on the company behind the brand.
- Brand: Trendo (earlier websites fxtrendo.com and trendofx.com)
- Legal entity: TRENDING MARKETS (INTERNATIONAL) LTD, Mauritius, registration 227756, the company named in the client terms. Trendo also uses Trendo LLC (Armenia, 271.110.1214359), which publishes the apps and, by Trendo's own account, serves some clients, and TrendoPay Services Ltd (Cyprus, HE 487743) as payment agent.
- Registered: 4th Floor, The Docks 4, The Docks, Caudan, Port Louis, Mauritius, care of Renark Management Solutions Ltd, a management company
- Website: trendo.com since 3 July 2026, plus fa.trendo.com (Persian) and web.trendo.com (trading platform)
- Only licence: FSC Mauritius GB25205094, SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting), dated 28 October 2025
- Offers: CFDs on forex, gold, indices, energies, stocks and crypto on its own app and web platform, leverage up to 1:2000, a $100 no-deposit bonus and a 10% crypto deposit bonus. Deposits by card and crypto, plus instant Iranian rial deposits on the Persian site.
- Not accepted: under its terms, residents of countries where it lacks a required local licence or that are under international sanctions embargoes
- Age claim: since 2019. The earliest trace we could verify is the trendofx.com domain, registered on 1 August 2020.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Services Commission, Mauritius
Armenia (Trendo LLC company registration)
Found by our investigation (2) — the broker does not list these on its own site
Financial Conduct Authority (UK)
Found by us — not listed by the broker
Saint Lucia International Financial Centre (IFC)
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
We rate Trendo as high risk, with a 65% risk score. It is not a clone and it does hold a genuine licence, which is why we do not call it a scam. The problems are in how Trendo describes its regulation and where it does business.
- The licence is real but covers one company. The FSC Mauritius register lists TRENDING MARKETS (INTERNATIONAL) LTD as an Investment Dealer from 28/10/2025, at the address Trendo publishes. Trendo's client terms name this company as the contracting party.
- Some clients may not get that company. Trendo's fund-safety page lists Trendo LLC in Armenia under the heading Financial Supervision. It says clients receive services through one of the two companies, depending on where they live. The licensing page says an Armenian charter change secured official authorization for forex brokerage. Trendo LLC is not among the 21 investment companies licensed by the Central Bank of Armenia, so a client served by it has no financial supervisor.
- It claimed regulation before it had any. In September 2025, fxtrendo.com said Trendo held valid licences in several countries. It called Trendo Markets Ltd of Saint Lucia a regulated broker and said its UK company was regulated by local authorities. Saint Lucia's regulator has no licence category for forex brokers. The UK company, Trendo International Group Ltd (14185682), filed dormant accounts and was dissolved on 25 November 2025. The FCA register has no Trendo firm.
- A regulator warning carries over to trendo.com. The Bank of Russia lists fxtrendo.com, dated 18.08.2025, for signs of an illegal professional securities market participant. That is a finding that Trendo served Russian clients without a Russian licence, not a finding of fraud: the same list includes RoboMarkets Ltd, which CySEC authorises. Changing domain does not clear it.
- It serves markets its licence does not cover. The Persian site offers instant Iranian rial deposits and Persian support. The client terms exclude residents of countries under international sanctions embargoes.
- Complaints add weight but do not settle the question. We counted about 14 fund-related complaints on Trustpilot and Google Play since June 2025, most describing withdrawals left pending or rejected. Most are short and come from single-review accounts, and the detailed ones describe different problems. We treat this as an unconfirmed pattern.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The FSC Mauritius register lists TRENDING MARKETS (INTERNATIONAL) LTD with an SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence dated 28/10/2025, status 'company is incorporated', no annotations, management company Renark Management Solutions Ltd, at 4th Floor, The Docks 4, Caudan, Port Louis. Name and address match Trendo's footer and client terms.
Hard proofFSC Mauritius Online Public RegisterE2Trendo's client terms (last edited 15.09.2026) name Trending Markets (International) Ltd, registration 227756, FSC licence GB25205094, as the contracting company. Mauritius law and courts govern, complaints go to the FSC portal, and the terms note that the FSC Ombudsperson route does not apply to this Global Business licensee.
ModerateTrendo client terms (PDF)E3The Bank of Russia's list of entities with signs of illegal activity names FXTRENDO.COM (website fxtrendo.com) for signs of an illegal professional securities market participant, dated 18.08.2025. fxtrendo.com was Trendo's main domain until 3 July 2026. Weighed as a regulator-confirmed finding of unlicensed business in Russia.
E4The same Bank of Russia list has carried RoboMarkets Ltd (RGF Holding) of Limassol under the same sign since 01.02.2021, showing that the list records unlicensed activity in Russia rather than fraud findings.
E5The CySEC register lists Robomarkets Ltd as an authorised Cyprus investment firm passported across the EEA, confirming that licensed firms appear on the Bank of Russia list.
WeakCySEC registerE6Trendo's fund-safety page puts Trendo LLC (Armenia, 271.110.1214359) under the heading Financial Supervision, says Trendo's services operate under the scrutiny of respected international financial authorities, and says clients are served by the Mauritius company or Trendo LLC depending on residence. The licensing page says an Armenian charter change secured official authorization for forex brokerage and that Trendo holds valid licences across several countries. It holds one.
E7The Central Bank of Armenia's list of licensed investment companies (21 firms, latest licence 11/08/2026) does not include Trendo LLC or its registration number. Supports E6.
ModerateCentral Bank of ArmeniaE8An archived copy of fxtrendo.com/awards-and-licensing (16 Sep 2025) says Trendo holds valid financial licenses across several countries, calls Trendo Markets Ltd (Saint Lucia, 2024-00332) a regulated broker supervised by the Saint Lucia International Financial Centre, and says its UK company is regulated by local authorities. Trendo held no licence anywhere then. Same source and behaviour as E6, so counted with it as one signal.
E9Companies House shows that 14185682 is TRENDO INTERNATIONAL GROUP LTD, incorporated 21 Jun 2022. It filed dormant accounts for 2023 and 2024 and was struck off and dissolved on 25 Nov 2025; its sole director and owner was Marvan Imaz. It is a company number, not an FCA licence.
ModerateUK Companies HouseE10The FCA register returns no firm, authorised or unauthorised, for 14185682, trendo or fxtrendo.
E11Saint Lucia's Financial Services Regulatory Authority lists the sectors it supervises (insurance, international banks, money services, mutual funds). Forex brokers are not among them, and it publishes forex warning notices.
WeakSaint Lucia FSRAE12Trendo's Persian site lists instant Iranian rial deposits through a bank gateway, and TopChange, with Persian support. The client terms exclude residents of countries embargoed by international sanctions, and the FSC licence does not extend to Iran.
E13Trustpilot (163 reviews, 4.3) holds six fund-related one-star reports since March 2026: withdrawals left pending or rerouted (Sep 2026); an account restricted with funds withheld after alleged misuse of negative balance protection, citing FSC complaint references RE-591 and 715 (Aug 2026); a disputed $8,307.53 loss with profits rolled back (Aug to Sep 2026); and $8,100 of bonus profit cancelled over an alleged duplicate account (Mar 2026). Trendo replied to each.
ModerateTrustpilot (trendo.com)E14One-star Google Play reviews of the Trendo app add eight fund-related reports from June 2025 to September 2026: withdrawals rejected or pending, an account closed holding $330, and a $20 deposit not credited. Most are short and lack transaction details.
ModerateGoogle Play (Trendo app)E15Trustpilot's distribution is 80% five-star and 13% one-star, with a hollow middle. Many five-star posts are one-line comments from single-review accounts, and the profile notes no recent review invitations.
E16The Trendo app, published by Trendo LLC, has 4.8 stars from 16.9K Google Play reviews and 100K+ downloads. One reviewer reports that rating the app was among the bonus activation steps.
E17Trendo's bonus page says the $100 no-deposit bonus can be withdrawn only after at least 200% profit each week for four consecutive weeks, about $8,100 from $100. Reviewers on Trustpilot and Google Play call it unattainable.
E18The client terms cap withdrawals at 30% of the balance while positions are open, block weekend withdrawals with positions in closed markets, bar withdrawals of lightly verified deposits under $1,000 until full KYC, and let Trendo cancel bonuses and reverse related profits at its sole discretion. The fund-safety page adds that repeated withdrawals can trigger an automatic temporary restriction.
ModerateTrendo client terms (PDF)E19Trendo's About page says it operates as Trendo Ltd, registered in Armenia and authorized by the FSC of Mauritius, and the licensing page names the operating entity Trendo Ltd. The FSC licensee is TRENDING MARKETS (INTERNATIONAL) LTD, and the Armenian company is Trendo LLC.
ModerateTrendo website (About page)E20trendofx.com, which Trendo names as its first website, was registered on 1 Aug 2020 and redirected to fxtrendo.com by Jan 2023. fxtrendo.com was registered on 17 Oct 2021. The brand has a continuous web history of about four years.
ModerateVerisign RDAP (trendofx.com)E21trendo.com was registered in 2003 but showed a domain-for-sale page in August 2025. Trendo bought it and moved there on 3 July 2026, so the domain's age is not Trendo's history.
E22The Cyprus companies registry lists TRENDOPAY SERVICES LTD, HE 487743, registered 07/02/2026, status registered, director Mohsen Koolaji, matching the payment agent Trendo discloses.
E23IOSCO's I-SCAN alert network returns no warnings for trendo or fxtrendo.
WeakIOSCO I-SCANE24Trendo's article on its own credibility calls FSC Mauritius one of the most prestigious financial licences internationally and says it follows the strictest international standards. Mauritius is an offshore, tier-3 jurisdiction.
E25Trendo says it started in 2019. The earliest independent trace is the trendofx.com registration of August 2020, a gap of under two years.
The other side
The strongest case in this broker’s favour.
There is a real case that Trendo is an aggressive offshore broker rather than a scam.
- The FSC Mauritius licence is genuine and was granted after the regulator vetted the company. The name and address on the register match Trendo's site and client terms.
- Trendo discloses its contracting company, registration number, address and Cyprus payment agent. The Cyprus registry confirms that agent, registered on 07/02/2026.
- The Bank of Russia listing reflects unlicensed business in Russia. The same list carries licensed EU firms, so it is not evidence of theft.
- The app has a large, mostly positive following: 4.8 stars from 16.9K Google Play reviews and 4.8 from 1.7K App Store ratings. Trustpilot scores Trendo 4.3 from 163 reviews, including reports of smooth withdrawals.
- Trendo replies publicly to every negative Trustpilot review. Some withdrawal problems may come from its rule that money goes back by the method used to deposit it.
- The brand can be traced to August 2020, it exhibits at Forex Expo Dubai, and we found no IOSCO alert, FCA warning or FSC Mauritius notice naming it.
What would change this
What we would need to see to revise the verdict.
Our view would move on clear, checkable changes.
- Lower risk: written confirmation that every client contracts with the FSC-licensed Mauritius company; removal of the Armenian authorization claim and of the claim to hold licences in several countries; the Bank of Russia removing its listing; evidence that the disputed withdrawals and the FSC complaints were resolved.
- Higher risk: an FSC Mauritius suspension or public notice; a warning from another regulator naming trendo.com; a confirmed pattern of unpaid withdrawals with transaction details across platforms; any demand for a fee to release funds.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FSC Mauritius register: TRENDING MARKETS (INTERNATIONAL) LTD
Shows the Investment Dealer licence dated 28/10/2025. Trendo's own verify link opens the register's front page instead.
Bank of Russia warning list: FXTRENDO.COM
Lists Trendo's former domain for signs of an illegal securities market participant, 18.08.2025.
Central Bank of Armenia: licensed investment companies
Trendo LLC is not on this list.
Companies House: TRENDO INTERNATIONAL GROUP LTD
Dormant UK company dissolved 25 Nov 2025; not an FCA licence.
FCA register search for 14185682
No FCA firm with this number.
Cyprus companies registry: TRENDOPAY SERVICES LTD
Trendo's payment agent, registered 07/02/2026.
Trendo licensing page
Trendo's own licence and Armenian registration claims.
Trendo client terms (15.09.2026)
Names the contracting company and sets withdrawal and bonus rules.
Trustpilot reviews of trendo.com
163 reviews; read the one-star reports.
Saint Lucia FSRA
Lists the sectors it supervises; forex brokers are not among them.
Frequently asked questions
Quick answers about this broker’s safety.
Is Trendo a scam?
We rate Trendo high risk at 65%, not a proven scam. One of its companies holds a genuine FSC Mauritius licence, but Trendo has presented unlicensed companies as regulated, and the Bank of Russia lists its former website fxtrendo.com. Treat it as a risky offshore broker.
Is Trendo a fraud?
We found no regulator action, enforcement case or court record finding fraud by Trendo or its companies. The Bank of Russia entry concerns unlicensed business in Russia, not fraud. Our other findings, misleading regulation claims and withdrawal complaints, lead us to assess the risk of losing money as high.
Is Trendo regulated?
Partly. TRENDING MARKETS (INTERNATIONAL) LTD holds FSC Mauritius licence GB25205094, an Investment Dealer licence dated 28 October 2025. Trendo LLC in Armenia, which Trendo says serves some clients, holds no licence from the Central Bank of Armenia.
Which Trendo company holds my account?
Trendo's client terms name TRENDING MARKETS (INTERNATIONAL) LTD in Mauritius. Its fund-safety page, however, says clients are served by that company or by Trendo LLC in Armenia, depending on where they live. Check the company name in your own agreement and statements, because only the Mauritius company is licensed.
What is the FSC Mauritius licence worth?
It is a real, supervised licence, but Mauritius is an offshore, tier-3 jurisdiction. There is no compensation scheme, and Trendo's own terms say the FSC Ombudsperson route does not apply to this Global Business licensee. It protects you far less than a UK, EU or Australian licence would.
Why is Trendo on a Bank of Russia warning list?
The Bank of Russia lists fxtrendo.com, Trendo's main domain until July 2026, for signs of an illegal professional securities market participant, dated 18 August 2025. That means it found Trendo offering services in Russia without a Russian licence. The entry names the old domain, but it concerns the same business.
Can I withdraw my money from Trendo?
Many users report normal withdrawals, but we counted about 14 complaints since June 2025 of withdrawals left pending or rejected, or balances held after an account was restricted. Trendo's terms cap withdrawals at 30% of the balance while trades are open and return money by the deposit method. Test a small withdrawal first.
Is the $100 no-deposit bonus real?
The bonus credit is real, but Trendo's own page says you can withdraw it only after at least 200% profit every week for four weeks in a row. That means growing $100 to about $8,100 before anything is paid. One reviewer who reached $8,100 says the profit was cancelled over an alleged duplicate account.
Is Trendo regulated in the UK or Saint Lucia?
No. Trendo International Group Ltd was a UK company (14185682) that filed dormant accounts and was dissolved in November 2025, and the FCA register lists no Trendo firm. Trendo Markets Ltd in Saint Lucia is a company registration, and Saint Lucia's regulator has no licence category for forex brokers.
How old is Trendo?
Trendo says it started in 2019. The earliest trace we could verify is the trendofx.com domain, registered on 1 August 2020, followed by fxtrendo.com in October 2021. Its licensed Mauritius company is much newer, with a licence dated October 2025, and trendo.com itself was bought in 2026.
Is Trendo a clone?
No. The licence number, company name and address Trendo publishes match the FSC Mauritius register, and its domains trace back to its own earlier sites. We found no sign that it copies another firm's identity.
Does Trendo accept clients from Iran?
Its Persian-language site offers instant Iranian rial deposits and Persian support, which shows it serves residents of Iran. Its English client terms say it excludes residents of countries under international sanctions embargoes. The FSC Mauritius licence does not cover Iran, so Iranian clients have little practical protection.
What should I do if Trendo will not pay my withdrawal?
Send the request, account ID and transaction IDs to Trendo support in writing and keep copies. If it stays unresolved, file a complaint through the FSC Mauritius complaints portal and, for card deposits, ask your bank about a chargeback. Never pay a fee to release funds, and ignore recovery offers.
What should I check before depositing with Trendo?
Confirm which company your agreement names, read the bonus and withdrawal terms, and note the leverage of up to 1:2000. Compare Trendo with brokers licensed by a top-tier regulator that offers a compensation scheme.
What we recommend
The practical takeaway from everything above.
If you use Trendo or are thinking about it, protect yourself first.
- Check which company your account agreement names. If it is Trendo LLC in Armenia, the FSC Mauritius licence does not cover you.
- Start small and test a withdrawal before adding funds. Withdraw by the same method you deposited with, and close open positions first: the terms cap withdrawals at 30% of the balance while trades are open.
- Treat the $100 no-deposit bonus as marketing. It pays out only after 200% profit every week for four weeks.
- Keep screenshots, ticket numbers and transaction IDs. If a dispute stalls, complain to Trendo in writing, then use the FSC Mauritius complaints portal.
- Never pay a fee, tax or verification charge to release money, and ignore anyone who offers to recover funds for a fee.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 24, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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