Target Trading Review – Stay Away From This Unregulated Broker

Target Trading is a Scam Forex Provider

Target Trading claims that its headquarters are in the Netherlands. This EU country has strict requirements regarding financial providers. The AMF is the official regulator and approves licenses for all Forex and CFD brokers.

We therefore checked the Target Trading Regulation register. It turned out that the company is not listed in this or any other Tier 1 databases, such as CONSOB, BaFin, and FCA. This means it can onboard customers without any legal approval or compensation fund. If you have any issues, you won’t be able contact the Financial Ombudsman for assistance.

The company, which is allegedly EU-based, would have to comply with ESMA rules regarding leverage limits. The European Securities and Markets Authority has set a limit on leverage for retail traders at 1:30 because of high risk. Target Trading, on the other hand, offers a leverage limit of 1:30 for retail traders.

We invite you to tell us about your experience with this financial fraudster, as it has yet to be spotted on the regulatory radar. We can then help you to pressure the authorities into taking action and issuing a warning.

Target Trading is a unregulated fraud linked to the now extinct MidasWMS. This company targets Canadian and US residents, but it is not licensed.

Are Target Trading Scam Victims Living in Canada?

Target Trading began its scam in August 2022 using two domains. The first domain was registered in GoDaddy WHOIS on August 16th and is still active. Target-trading.io was registered on August 29th and is currently inactive.

This financial intermediary is responsible for the majority of customer complaints and frauds.

• US
• Qatar
• Canada
• Brazil

We are still waiting for authorities to respond, but your story could change the course.

How does this scam broker contact victims?

Target Trading is using a fraudulent marketing campaign called Bitcode Prime to promote its services. BaFin in Germany has banned this fake advertisement and declared it a fraudulent campaign that targets naive consumers.

After you click on the ad, submit your details. Broker employees will call you and send you emails with better financial offers. The core of this whole thing is the “get rich quick” story.

Account managers will be available to help you navigate the platform and trades if you believe the story. They will ask you many questions and create what appears to be a custom-made portfolio to help you achieve your goals. They may also add you to WhatsApp and Telegram groups, making it appear that they have fake results.

Even if Bitcode Prime is avoided, you can still be targeted through social media accounts, such as Facebook, Instagram and YouTube. This latest service allows fake financial advisors to build their credibility and create their story.

What trading platforms are available? – Trading Software

You will notice that Target Trading advertises HTML 5 WebTrader. We tried to access it but were met with the following message when we tried. “Your account under review.” After approval by the Anti-Money Laundering and Compliance officer of the Company, your trading activity can be initiated.

They will reject your application if you are from a country that they don’t like. It’s not clear that applicants cannot apply if they are from certain regions. The broker claims to be offering a Demo account but that you can’t access it until your compliance department approves.

The brokerage does not offer third-party trading platforms like MT4,MT5, or CTrader. No matter how browser-based the platform, it is not comparable to MetaTrader’s reputable software.

What can you trade with a broker? Trading Instruments

Let’s have a look at the trading asset overview if you are still interested. Target Trading allows you to invest in:

• Currency pairs – EUR/USD. GBP//NOK. EUR/AUD.
• Commodities – gold, corn, soybeans
• Indices – NIKKEI225, S&P 500, CAC40
• Shares Amazon, Google, Intel

Another disappointment is that crypto trading is not an option.

Fees and spreads

The spread can vary depending on account type. It ranges between 0.5-3 pip. This gap is large considering that 3 pips is twice the average. They are not as specific as other trading commissions.

Comparing Trading Accounts – What is the Difference?

Let’s look at the Target Trading account types to see how unfavorable.

1. Green- 5,000 EUR
2. Premium – 10,000 EUR
3. Platinum – 50,000 EUR
4. Business – 100,000 EUR
5. Executive 250,000 EUR

The company also offers excessive amounts of money. Leverage is not regulated and spreads can be high. They offer up to 25% bonuses that could be used against you if your money is withdrawn.

You will not receive any perks if you deposit less than 250 EUR or GBP according to the FAQ section.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

Target Trading: Video

Below you will find a short video about Target Trading. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Target Trading!