TargetTrading – The provider claims to be a financial service provider on its website, which is active in the field of online trading. Accordingly, investors can make investments in the areas of forex, indices, stocks and commodities. Are you encountering difficulties with the distribution of your investment? Our lawyers can help you with claims against TargetTrading.

TargetTrading – How should the online broker be rated?

Currently, there is an extraordinarily high number of online trading platforms such as TargetTrading. This means that investing in the volatile financial markets has never been as easy but also as risky as it is today. Especially because there are countless options, choosing a provider can be time-consuming and daunting. Especially if it should correspond to your personal investment plans. Are you considering investing money with TargetTrading? Then the following aspects are important for you as an investor.

  • Access to the international financial markets is becoming more convenient and affordable for investors through online investing.
  • An optimal place to start for investors who want to learn about securities, futures, binary options and cryptocurrencies is a website like this one.
  • Regulated brokers on the internet, reputable platforms, fees and bonuses, offer options and customer feedbacks are just selected points that you would have to consider when making your final decision.
  • When trading on the internet, there is a large amount of order types to choose from.

The following information is general advice for investors – regardless of the platform you are investing in.

Identify trustworthy providers and invest wisely

There is a wide range of investment opportunities available to money investors, with reliable and questionable service providers vying for their favour. There are many indications that a service or product is not reliable, and it is important to have a look. Here’s what to look for when investing your hard-earned money. Banking, financial services and insurance companies like TargetTrading are only allowed to operate in the FRG with state authorisation.

Although the providers have received authorisation, this in no way means that the services offered are of excellent quality. In the event that a prospectus or information sheet approved by BaFin has been published in advance, derivatives and financial investments can also be made available to the general public. The Federal Financial Supervisory Authority simply ensures that prospectuses are complete, plausible and coherent. TargetTrading’s prospectus or information sheet is not necessary in every circumstance.

Before you invest, you should think about your long-term objectives and assess whether you have the financial means to achieve them. Do not rush the process. Before putting your money into an investment, take time to weigh the pros and cons. Do not make a decision immediately, even if you have consulted with others.

Does TargetTrading have foreign bank accounts and require wire transfers?

Is it advantageous for you to transfer funds to a country outside Europe? Consider in detail what you are doing. Quite a few investors have already lost assets in this context. It is conceivable that you will lose track of where your funds are going and how they are invested. When capital has been provided to a broker, it has often happened that the company does not invest the money received as agreed or even not at all.

There have also been cases where the company simply did not exist, although it presented itself in a similar way to TargetTrading. Apart from the licensed service providers, there are several dubious online trading websites where a similar procedure can be observed in the majority of cases. Potential investors are contacted by employees of the respective trading website. For example, by telephone, if the consumer has provided non-binding contact details on the service provider’s website.

In most cases, however, they are also contacted by mass e-mails. These entice the consumer with supposedly money-making investments. The investor is quickly assigned a personal broker who guides him or her through the process of setting up a customer account and making initial investments. The investor feels well supported for the time being and online trading usually starts with smaller amounts. But shortly afterwards, larger investments are required – usually into accounts located abroad.

These deposits are intended to increase the potential profits. Problems with fraudulent brokers ultimately arise as soon as the investor requests a payout. This is repeatedly withheld or linked to further transfers such as alleged taxes and brokerage commissions. In the past, the criminals only traded from unclear locations. Nowadays, they operate from completely different locations such as the United Kingdom (including London), the Netherlands, Canada, Spain, Dubai and others.

It is difficult for the vast majority of people to spot tricky scams. Companies often receive e-mail orders with huge order volumes that bear no relation to the normal purchase amounts. In order to lure the German company, enormous promises of profits are made. However, the enormous order volume only serves as a means of pressure in conversations with the producer to demand correspondingly high registration and licensing costs.

It is not always clear whether the addressee of this payment is also the purchaser of the goods. Nevertheless, it can be assumed that companies that are active abroad will not have to pay local tax on shipments to other countries in the near future. Find out whether this also applies to investments at TargetTrading.

Largely unregulated: the grey capital market

Only very few of the financial market participants like TargetTrading are subject to official regulation and supervision. In the grey capital market, financial service providers operate who do not even need a licence from BaFin and only have to fulfil a few regulatory criteria. Only invest in the grey capital market if you are sure of the company’s liquidity and it is known to you as a company. As I said, BaFin has no control over these providers. The grey capital market contains a wealth of possibilities. There are:

  • Crowdfunding offers
  • Loans with a subordination agreement
  • Equity investments
  • Profit participation rights and other hybrid bond forms
  • Order bonds
  • Direct investments, such as in timber, precious metals or other commodities

One thing is certain: it is unclear how it will ultimately turn out for the investor. Do you find it difficult to see through the advertised product? If so, you should gather as much information as possible before making a decision. Don’t invest in anything you don’t fully understand! When it comes to financial transactions, the more know-how you need, the more sophisticated the financial product. It is also not recommended to put all your money on one horse. Diversify your risk beyond TargetTrading.

To avoid being influenced incorrectly, always focus on the product itself and not on the name or image of the financial service.

Cybertrading – Experiences of investors

Conventional investment fraud is carried out using well-known methods such as advertising, telephone canvassing or stock exchange letters. When it comes to fraud, the old-fashioned approach is fast becoming obsolete in the digital age. The modern type of investment fraud could be described as “cybertrading”. Financial products are traded here with dishonest intent via the World Wide Web. Fraudulent investments include investment products such as contracts for difference and cryptocurrencies.

TargetTrading’s offers were also used by other service providers in a similar way to hoodwink investors. Investors are increasingly making their own enquiries about investment opportunities on the internet. In this way, people rely on their personal expertise or on the advice of others in blogs, forums and other online platforms when making their decision. The transition to increasingly different financial instruments has no lasting impact on criminal activities in terms of gang structure.

As the mafia gangs rely on already existing and widely recognised infrastructures, the shift to a new “business model” is unnecessary. Regardless of the financial product being traded, the process of cybertrading is almost identical. These investment products are aggressively advertised on social media platforms or with paid advertisements. In this context, it is in principle exclusively about the presentation of enormously high profits. Calculate the probability of achieving high profits with TargetTrading before you invest.

Unsolicited offers of help to recover capital?

Anyone who has ever lost assets through a fraudulent investment platform knows how fatal that can be. That alone is bad enough. But on top of that, the criminals behind the bogus model contact you by email or phone call within a manageable time. This time, however, they do not pretend to be financial advisors from TargetTrading. Instead, they guarantee to provide assistance in recovering the stolen assets in exchange for an upfront payment.

Many criminals even appear to have been hired or entrusted by reputable companies such as a financial regulator. After stealing your personal information, the rip-off artists often pose as good Samaritans. They guarantee to assist you in recovering the stolen money. Even if you have invested money with a service provider like TargetTrading, your contact information may be stolen. Those who have lost an immense amount of money are usually desperate.

The criminals take advantage of people’s worry by calling themselves money recovery companies. They offer their services under the guise of helping them get their money back. That is, they securitise in a dubious manner that they will recover the lost money.

You want to get your capital back from TargetTrading? Our lawyers can help

Action must be taken as soon as possible if the suspicion that a provider is not operating properly is confirmed and there is a risk that the broker is delaying its profit payouts. Apart from a report, which our law firm prepares for our clients with the criminal police, and a report to the financial supervisory authority, the broker should possibly also be held legally accountable. This involves an assessment of the contractual claims against the broker as well as possible compensation options.

In the case of money transactions, it is also relevant to check whether financial institutions can be held responsible in the event of an error. Claims for compensation against financial institutions may exist, for example, in the case of money laundering or other illegal activities. However, this must be examined depending on the facts of each case. If your broker delays the distribution, you should contact a competent law firm immediately:

  1. Describe the facts of the case to our law firm by e-mail
  2. Give us the names and contact information of anyone you have been in contact with
  3. Tell us how long the broker has failed to pay you

The Herfurtner law firm will give you a free initial assessment in connection with TargetTrading. In addition, we will promptly inform you whether we assume that you have a good chance of recovering your losses.