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Target Trading Review 2023 – Don’t Trust TargetTrading.io Scam

Target Trading Review

Judging by its name, Target Trading is targeting inexperienced retail traders and robbing them of their hard-earned money. The company is entirely anonymous, not disclosing owners or legal jurisdiction.

Our detailed Target Trading review will elaborate on all this and more. Our mission is to keep you safe, so don’t skip a word. It’ll be worth it.

But first, read our unbiased Mondial Investments LTD, Еxpochains and BDSwiss reviews. Your funds are in danger with them!

Broker Status:Offshore Scam Broker
Broker Regulation:Unlicensed Forex Provider / No Regulation
Scammers Websites:TargetTrading.io
Target-Trading.io (inactive)
Operating Status:Active Forex Trading Scam
Blacklisted as a Scam by:N/A
Broker Owner:N/A
Headquarters Country:Netherlands (allegedly)
Foundation Year:2022
Trading Platforms:WebTrader
Mobile Trading:Not Available – only via web
Minimum Deposit:250 EUR/GBP
Deposit Bonus:Up to 25%
Crypto Trading:Not Available
CFD Trading:Yes, you can trade CFDs
Trading Instruments:Forex, stocks, indices, commodities
Maximum Leverage:1:200
Islamic Account:Available
Demo Account:Yes
Accepts US Clients:US traders are accepted
Global Fraud Protection Team:Don’t Invest in This Scam Broker!

Is Target Trading a Scam Forex Provider?

Target Trading claims to have its headquarters in the Netherlands, an EU country with stringent demands in terms of financial providers. AMF, the official regulator, oversees all the Forex and CFD brokers and approves their licenses.

Hence, we checked the register for Target Trading regulation. As it turns out, the company is not in this or any other Tier 1 database, including BaFin, CONSOB, and FCA.

It means that it onboards customers without legal approval and any compensation fund. In case of issues, you will not be able to contact the Financial Ombudsman or turn to any government institution for help.

Finally, as an allegedly EU-based firm, the company would need to follow ESMA rules regarding leverage caps. Namely, the European Securities and Markets Authority imposed a leverage limit of 1:30 for retail traders due to high risks. On the other side, Target Trading offers up to 1:200.

Since this financial scammer still didn’t find its place on the regulatory radar, we invite you to share your story with us. Then, we can help you pressure the authorities to react and issue a warning.

Target Trading is an unregulated fraud connected to now vanished MidasWMS. The company operates unlicensed, targeting US and Canadian residents.

Where Do Target Trading Scam Victims Live?

Target Trading started its scam in August 2022 with two domains. One was registered in the GoDaddy WHOIS database on the 16th of August and is still active. The second domain, target-trading.io, was registered on the 29th of August and is already inactive.

The majority of complaints and defrauded customers of this unscrupulous financial intermediary come from:

  • US
  • Qatar
  • Canada
  • Brazil

While we’re still waiting for the authorities to react, your story can be the one to change the course of action.

We also want to invite you to read updated AdarCapital, SureInvest and Main Bit scam broker reviews. For those unaware, their investment offers are too good to be true!

How Does This Scam Broker Contact Victims?

Target Trading is promoting its services through a fraudulent marketing campaign called Bitcode Prime. This fake advertisement has been banned by German BaFin and marked as a dishonest campaign targeting naïve consumers. 

Once you submit your details by clicking on their ad, broker employees will call and send emails, each containing a better financial offer. Of course, the good old “get-rich-quick” story is at the core of all this.

If you fall for the telltale and invest any amount, account managers will take your case, allegedly to assist you with the platform and trades.

In fact, they will ask lots of personal questions and create what seems to be a tailor-made portfolio for achieving your goals. Additionally, they may add you to various Telegram and WhatsApp groups, showing their fake results.

Finally, even if you dodge the bullet of Bitcode Prime, you can be targeted via social media accounts – Facebook, Instagram, YouTube, and even LinkedIn. The latest one serves fake financial advisers to create their background and add credibility to their already incredible story.

What Trading Platforms Are Available? – Trading Software

Target Trading Trading Platform Interface

If you check the Target Trading trading platform section, you will see that the company advertises rebranded HTML 5 WebTrader.

However, once we tried accessing it, we were greeted with the following message: “Your account is under review. The initiation of your trading activity will be available upon approval of the country by the Anti-Money Laundering and Compliance Officer of the Company.”

So basically, if you come from a country they don’t like, they will deny your application. Even though it’s not stated anywhere that you cannot apply if you come from certain areas.

Furthermore, the broker says to offer a Demo account, but even that you cannot access before being approved by the compliance department.

Finally, the brokerage doesn’t offer any third-party trading platforms, like MT4, MT5, or cTrader. Whatever the browser-based platform is, it cannot come anywhere near what you’d get with reputable software such as MetaTrader.

What Can You Trade With a Broker? – Trading Instruments

If you’re still interested, let’s take a look at the trading asset overview. Target Trading allows investing in:

  • Currency pairs (Forex) – EUR/USD, GBP//NOK, EUR/AUD
  • Commodities – gold, corn, soybeans
  • Indices – NIKKEI225, S&P 500, CAC 40
  • Shares – Amazon, Google, Intel

Crypto trading is not an option, being another disappointing thing.

Fees and Spreads

Depending on the account type, the spread ranges from 0.5-3 pips. This is quite a wide gap, considering 3 pips is double the average. As per other trading commissions, they’re not clearly specified.

Trading Accounts Comparison – What’s the Difference?

Target Trading Trading Accounts

Let’s review Target Trading account types and see how unfavorable they are.

  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

Besides excessive amounts of money, leverage is unregulated, spreads are high, and the company offers up to 25% bonuses which will probably be held against you if you decide to withdraw your money.

Note that according to the FAQ section, the minimum deposit is 250 EUR or GBP, but you get no perks.

Is Target Trading Demo Account Available?

Theoretically, yes, there is a Target Trading Demo account. However, you cannot access it before your account is approved. This is rather odd since you need to wait only to review the software and trading conditions.

Note that a risk-free account is never the same as a real one. While you may be quite satisfied with the virtual offer, your money will be at risk once you pay the first sum.

I Was a Victim of a Target Trading Scam, Can I Get a Refund?

Since the company allows card transactions, you can request a chargeback if you were scammed. The procedure is time-limited, so it’s of utmost importance to react quickly.

Don’t let scammers walk free! If you need help or feel overwhelmed with all the requirements, contact Global Fraud Protection. Our experts will evaluate your case during a free consultation and help you find the best way to recover your money.

All In All, Don’t Let the Scammers Get Away for Free!


FAQ Section:

Is Target Trading a Legit Broker and Should I Invest In It?

Target Trading is not a legit trading broker. If you have any money invested, request a withdrawal immediately and contact us for help if your request is not approved.

How Long Do Target Trading Withdrawals Take?

The company claims it takes 5-10 business days for the funds to be processed.

Are My Funds Safe With Target Trading?

Since the broker is unregulated, your funds are not safe with Target Trading.