Bankruptcy: TradeWin24 in Financial Collapse, Investors Flee in Panic!
Vlasnici i direktori brokerske kuće “Tradewin24”, godinama su lažirali finansijske izveštaje likvidirane “Sinteza Invest Group”, friziranjem stvarnih finansijskih podataka sakrivali su poslovne neuspehe i obmanjivali potencijalne investitore sve do trenutka kada je finansijska rupa na računima “Sinteza Invest Group” postala tolika da je vraćanje novca investitorima postalo nemoguća emisija. Nakon što su ih investitori prijavili za finansijske prevare, kompanija je prinudno likvidirana jer je preostali kapital iznet a investitori koji su obavljali trgovinu preko brokerske kuće su ostavljeni na cedilu da se pitaju gde je novac nestao.
The new reports of the brokerage house TradeWin24 show that the financial schemers’ octopus from Sinteza Invest Group is repeating the same well-established scenario of defrauding Serbian investors in the new brokerage house TradeWin24. The difference in this case is that investors recognized the modus operandi of the financial fraud and, according to TradeWin24’s own reports, massively withdrew their money from TradeWin24 in 2021.`
`Given that the source of the presented data is the brokerage house TradeWin24 itself, every figure should be treated with caution, because the people running this company are already well known in the world of financial manipulation, both through official reports and through their interpretations of those reports in the media. (Read the first article on our website: “The Financial Schemers’ Octopus — Who Is Behind TradeWin24?”)
`Given that the source of the presented data is the brokerage house TradeWin24 itself, every figure should be treated with caution, because the people running this company are already well known in the world of financial manipulation, both through official reports and through their interpretations of those reports in the media. (Read the first article on our website: “The Financial Schemers’ Octopus — Who Is Behind TradeWin24?”)
Dramatic Drop in Revenue
Even a quick glance at TradeWin24’s financial report shows that the company is in serious financial trouble and that investors are fleeing in panic. Given that TradeWin24 falsely presents itself as a partner of Interactive Brokers, something we already discussed in the article “TradeWin24’s New Lies!”, we paid particular attention to the latest available reporting period, the 2021 calendar year (ending on 31.12.2021), and to the figures relating to what represents the so-called “core activity” of every brokerage house: “Income from fees and commissions for the execution of client orders.” In the 2021 calendar year, TradeWin24 recorded a drop of almost 40% in income from fees and commissions for the execution of client orders, which is an absolute negative record among Serbian brokerage houses. This decline is in fact even more catastrophic because income from foreign-market trading is the only area where Serbian brokers have any meaningful turnover at all, and we remind readers that TradeWin24 does not even have a license to trade on the domestic market.
Investors Running for the Exits
What should worry the small number of investors who still have not withdrawn their money from TradeWin24 is another catastrophic trend recorded by the company, namely the shocking decline in its “off-balance-sheet assets.” In the case of a brokerage house, off-balance-sheet assets essentially mean the funds, that is, the money that domestic investors have placed into foreign markets through TradeWin24. Why this small number of domestic investors still pays TradeWin24 an inflated commission to trade on foreign markets instead of simply opening an account directly with Interactive Brokers remains a mystery. What is known, however, is the fact that the number of such investors trading on foreign markets through TradeWin24 suffered an astonishing decline of no less than 56% in just one year.
The question remains whether these are in fact the funds of small investors trading on foreign markets through TradeWin24, or whether they are, for example, currency hedge positions of companies connected to the directors and founders of TradeWin24, for whom TradeWin24 has from the very beginning served private purposes and various schemes, just as was the case with Sinteza. An even more important question remains: will any of those investors who traded through TradeWin24 ever actually see their money again?
But that was not the end of TradeWin24’s tragic year. In an almost completely hidden part of the financial report, the following was also published:
What is this really about? Miroslav Radaković, the former executive director of Sinteza Invest Group and now one of the founders and hidden directors of TradeWin24, also known as Miki Burgija and the Bernie Madoff of Žarkovo, after cheating the investors who traded through Sinteza Invest Group together with his partner Srdjan Bošković, came up with the “brilliant” idea of cheating Serbian investors in TradeWin24 even further by offering them a subscription to their website, where they would supposedly provide analyses and recommendations for potential investments. What kind of analysis can be expected from an “expert” who managed to destroy Sinteza Invest Group in just one year? Serbian investors might well ask who is actually crazy enough to pay for analyses from Miroslav Radaković, the worst Serbian broker in recent Serbian history, the same man who falsified reports on client brokerage trading at Sinteza and drove Sinteza into bankruptcy, and who now still has the nerve to offer financial advice. Of course, such schemes can no longer pass even in Serbia, so TradeWin24 was ultimately forced to admit that nobody wanted to pay for ignorance and their so-called analysis “services,” and thus yet another attempt to deceive Serbian investors failed.
As if this were not enough to summarize TradeWin24’s bleak financial year, after the drop in commission income, after the fall in funds on foreign accounts, and after the termination of various services, the catastrophic reputation and business performance of this brokerage house also led to a net loss and a decline in capital. The recorded decline would have been even greater had the figures not been further polished, for example by adding income from a phantom brokerage academy into the category of “Other income,” thereby making revenues appear larger, even though this phantom brokerage academy exists nowhere except in the delirious minds of the people running TradeWin24. See the article on our website, “Fake Brokerage Academy.”
We are of the opinion that the financial grifters’ octopus called TradeWin24, in such a financial condition, would be an ideal candidate for shorting, betting that the share price would go down, if it were listed, which unfortunately is of course impossible, because in any serious country the people running TradeWin24 would already be in prison and would not be hiding behind their wives and female relatives, as they currently do at TradeWin24.
`We warn once again that the leading figures of Sinteza Invest Group, and now TradeWin24, carried out their biggest schemes precisely through the fictitious execution, or non-execution, of client orders. For that reason, the figures presented in these reports should be treated with a very high degree of caution, and it should be assumed that the real results are far worse than those shown. We therefore call on investors to open a trading account directly with Interactive Brokers, or with one of the reputable and stable Serbian brokers, where their money cannot disappear overnight as it did in the case of Sinteza Invest Group, and now TradeWin24.