Avoid Scam Broker: Tradelly.Ai Client's Desperate Attempts to Withdraw Prove Futile

As Artificial Intelligence (AI) technology evolves rapidly, fraudulent actors in the financial sector are increasingly exploiting it to orchestrate scams. They lure individuals with promises of unrealistic high returns through supposed AI-driven automated trading systems. Some fraudulent schemes even use AI-generated images and videos of celebrities to create a false sense of credibility. These scam brokers often employ terms like "AI," "algorithmic trading," and "automated bots" without detailing how their systems function. A prime example is Tradelly.Ai, a forex broker that brags about its strong AI capabilities but has been accused of failing to respond to withdrawal requests, according to a client complaint.

Client Complaint: “I invested in Tradelly.Ai and then could not withdraw my funds”

A complainant alleged that he had been with Tradelly.Ai since November 2023, but problems arose when he requested to withdraw all his funds totaling €35,000 in February 2024. 

The client reported initially everything went smoothly, with Benjamin Lewis, Tradelly.Ai’s representative, being supportive and discussing options over the phone, and Tradelly.Ai confirmed his withdrawal request of €35,000. However, “It all started going wrong from then on,” said the client. He detailed that Tradelly.Ai promised to transfer the money in Bitcoin but since early November 2024, Tradelly.Ai has not responded to the client's inquiries.

Timeline for Client’s Communication with Tradelly.Ai about Withdrawals

October 22

Benjamin Lewis requested the client to send his Exodus BTC wallet address to complete the transfer (Exodus is a popular crypto wallet app). The client requested to receive the funds via Kraken.

October 23 and 24

Benjamin Lewis insisted that the client provide the screenshot of the Exodus BTC wallet address. The client provided a Kraken USDT address. Benjamin Lewis explained why Exodus was preferred, mentioning seamless transactions, compliance, traceability, ease, and flexibility.

October 25

The client provided an Exodus BTC address, but Benjamin Lewis claimed he had already converted the client's BTC to USDT and requested a Tether address. The client then pasted the Exodus USDT screenshot.

October 26 (Saturday)

Benjamin Lewis responded, stating the transfer would be initiated that day and should be received by the same day or Monday, and he would notify the client.

October 30 (Wednesday)

The client had not received the funds and asked Exodus about this.

November 1

The client received an email from Exodus, which confirmed it was a failed transfer and the sending account did not hold the sent amount of USDT, warning the client that he might have been scammed.

November 6

The client forwarded the email from Exodus, informing Tradelly.Ai of the failed transfer and requesting a response. Benjamin Lewis replied, saying a new transfer request had been sent and would be completed by the next day.

Since Then

The client still had not received the funds and continued to send emails to Benjamin Lewis and Tradelly.Ai, but received no response.

Multiple Regulatory Warnings Against Unauthorized Tradelly.Ai

Tradelly.Ai falsely claims to be certified by the "Crypto Conduct Authority (CCA)," a fabricated organization that is not a legitimate regulator. The broker presents a fake certificate in an attempt to appear credible.

Despite listing an office address in Switzerland on its website, Tradelly.Ai is not regulated by the Swiss Financial Market Supervisory Authority (FINMA). On July 16, 2024, FINMA added Tradelly.Ai to its warning list, indicating the broker's unauthorized operations.

Further raising red flags, on November 7, 2024, the UK Financial Conduct Authority (FCA) issued a warning against Tradelly.Ai, believing the company might be providing financial services or products without authorization in the UK. Additionally, on November 15, 2024, the Financial Services and Markets Authority (FSMA) issued a warning against Tradelly.Ai for potentially offering unauthorized financial services or products in Belgium.

Beware of Recovery Room Fraud: Client Nearly Scammed a Second Time

Victims of investment scams need to stay vigilant against Recovery Room Fraud. In these schemes, scammers target victims who have already lost money, promising to help recover the funds for a fee.

In the above Tradelly.Ai case, the client, in desperation, contacted a company called Ample Edges, which claimed to specialize in recovering lost funds. They promised to get the client’s money back but required an upfront fee. 

Fortunately, the client suspected it might be a scam and did not proceed with this company.

The FCA, FSMA, and the Financial Markets Authority of New Zealand  (NZ FMA) have all issued multiple public warnings about Recovery Room Fraud. BrokersView reminds fraud victims to be extremely cautious of unsolicited calls or emails from individuals or “law firms” promising to recover lost funds for a fee. Once scammers receive the fee, they disappear, leaving the victim with even greater losses.