Target Trading Review: Truth About TargetTrading.Io

Target Trading is a broker that appears to be very shady and basic.

Operating totally offshore, they seem to follow a formula by the book. However, it’s important to note that this broker is a complete scam and a high risk for all involved. To learn more about this, read this Target Trading review.

Opening an account with Target Trading was simple and quick, but the user area appeared unprofessional and did not inspire trust – something we expected from this type of broker.

The real shock came when we discovered that there was no trading software available on either the user portal or the website. That means that none of the advertised trading conditions are valid. The spreads, tradeable assets, and leverage amounts displayed on the website are useless.

Is Target Trading a Reliable Company? Broker’s Regulation

Target Trading claims to be registered in the Netherlands, but this assertion is highly doubtful. The Netherlands is a member of the European Union and has strict regulations governing its markets.

The AFM is the governing body responsible for these regulations, and it requires any company operating in Dutch markets to hold a license from it. Target Trading does not mention holding such a license, which means that it cannot be considered a regulated company. Furthermore, the leverage advertised by the company, which is 1:50, exceeds the 1:30 restriction imposed on retail clients in the EU.

It is more likely that Target Trading is based in one of the numerous offshore scam havens that do not regulate their markets. This allows anyone to set up a company and operate without any oversight. However, dealing with such firms is highly risky and should be avoided.

Overview of Target Trading Trading Software

As we have already established, there is no evidence of a trading platform available through Target Trading. That is evident in several ways.

The website advertises a web trader, but there is no clear way to access it. Despite having an active account, there are no links to the platform. Additionally, the user area lacks any visible access point to the web trader, making it impossible to interact with it.

It is possible that Target Trading restricts access to the web trader to only a select few brokers, but this seems unlikely. Instead, it is more plausible that the company does not have a trading platform that they promote on its website. We conclude that the latter is true.

Trading Instrument at  Target Trading

Target Trading claims to offer a range of assets for trading, including Forex, Commodities, Indices, and Shares. However, upon further examination, we can see that the company’s spreads are unreasonably high, making it unlikely that any trader would benefit from dealing with them.

In fact, after a thorough evaluation of the company’s services, we could not find a single positive aspect to highlight. On the other hand, there are numerous drawbacks that we have identified and described in detail in our comprehensive review.

For example, in addition to the high spreads, Target Trading does not provide a trading platform for its users, which limits their ability to make trades effectively. Furthermore, the company’s claim of being registered in the Netherlands is highly questionable, as there is no evidence to support this assertion.

Engaging with Target Trading is a risky proposition. We advise traders to exercise caution and consider alternative FX brokers.

Method of Deposit and Withdrawal

Target Trading accepts three deposit methods: crypto, credit cards, and wire transfers. However, it is important to note that wire payments are final, which means that if you use this method to deposit funds, you may have already lost your money.

Credit card payments offer a slightly better option, as there is a chargeback period of up to 540 days after the transaction. We strongly recommend that anyone who has deposited with a credit card considers filing a chargeback claim.

It is particularly concerning that Target Trading requires a minimum deposit of $5,000, which is significantly higher than the amount required by most legitimate companies to open a micro account. That is suspicious as it suggests that the company may be targeting high-value customers and engaging in potentially fraudulent practices.

Overall, we advise traders to beware when dealing with Target Trading and to consider alternative brokers with more transparent and customer-friendly policies.

How the Fraud was Committed

To fall for a scam, users often cross the formal boundary with brokers who pose as friends and aggressively push for sales. Scammers use sophisticated tactics, making it easy to lose money, so it’s essential to think carefully and seek professional advice.

Typically, the contact starts with online ads and quickly moves to the phone. Once the user deposits money, the scammer’s goal is to keep them and drain their funds. It may take multiple deposits for users to realize they’ve been scammed, at which point, the broker will cut off communication and deny withdrawal requests.

Target Trading Summary

We aim to protect people from losing their money. It’s wise to thoroughly research FX and any other companies before conducting any transactions.

We hope our review has assisted you, and please don’t feel embarrassed about reporting a scam! It’s best to choose a trustworthy, regulated broker from those we listed here in this review.

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