TargoSwiss Review – The Malicious Scam Is On The Rise
The slew of contradictions and outright lies have provoked the emergence of the TargoSwiss Review and now that it stands before you, there is no other alternative to the truth. Here, you will read about how this fraudulent broker intends to dreadfully scam its clients and why it is imperative that you avoid it.
Behind the financial swindler’s nice-looking website, you’ll discover crookedness. The following section will address the issue directly and leave you second-guessing TargoSwiss.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||TargoSwiss Ltd|
|Headquarters Country:||P.O. Box 1825, Cedar Hill Crest, Villa, St. Vincent and the Grenadines|
|Supported Platforms:||Meta Trader 4, WebTrader|
|Minimum Deposit:||10,000 EUR|
|Types of Assets:||Forex, Stocks, Commodities, Indices|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
Is TargoSwiss a Safe Trading Company Or a Scam?
Let’s being by saying that this company is an outrageous investment scam. Our guess is that the offshore provider specifically targets German-speaking people since it has a version of the website in that language.
Next, it’s important to note that the company’s HQ is in St. Vincent and the Grenadines, an infamous sanctuary of scammers and con artists. Also, the local financial authority there (FSA) does not license Forex trading, thus eliminating any possibility of TargoSwiss’ regulated status.
However, our bashing of the fraudster does not stop there since it kept stacking up these lies. At the bottom of the home page, the swindler claims it operates in the EU.
In addition, the entire “Client Agreement” PDF was taken from another SVG-based provider, MaximusFX. TargoSwiss didn’t even bother removing that name at the end, which shows you the kind of a phony it is.
TargoSwiss is nothing but a fraudulent broker with vile attempt to defraud its victims, its offer and its lies. It’s based offshore and has no license.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Never trust an unregulated broker. We’ve already said that SVG does not license Forex. On the websites of Tier 1 regulators such as Germany’s BaFin and the European Securities and Markets Authority, we could not find any files on TargoSwiss and thus ascertained the claim that the fraudster is unregulated and dangerous.
What Trading Software Does TargoSwiss Offer?
TargoSwiss allegedly offers Meta Trader 4, for several operating systems, and WebTrader. The platforms are inaccessible without an account.
Putting the name of the best software in trading (MT4) is a smart move and might draw customers. However, scammers are able to get this platform, which means it’s not necessarily safe.
Which Assets Can The Investor Trade?
The available assets include:
- Forex currency pairs – EUR/USD, USD/GBP, AUD/JPY, etc.
- Stocks – Tesla, Pfizer, McDonald’s, etc.
- Commodities – gold, silver, crude oil, etc.
- Indices – UK100, SPX500, DAX30, etc.
Other features listed on the website offer access to 1500 global shares, direct market access, T+0 settlement, and more. Clicking on any of the major pairs on the Forex heat map will take you to the website of the company TradingView. More on leverage and spreads later.
What Do We Know About TargoSwiss Account Types?
There is a total of seven available account types:
- Bronze – min. deposit (€10,000), leverage 1:100;
- Silver – €25,000, 1:100;
- Gold – €50,000, 1:200;
- Platinum – €100,000, 1:300;
- Diamond – €250,000, 1:300;
- Premium – €500,000, 1:300;
- VIP – €1,000,000, individual leverage.
As you can see, these numbers are off the charts, unbelievable. For a scammer to demand such overwhelming amounts you’d at least think they’d be wise enough to provide as much transparency as possible. This is not the case with TargoSwiss.
Liquid Trading Academy – Using a Demo Account
- It is available upon opening a demo account with TargoSwiss.
- It supposedly offers technical and fundamental analysis.
- Additionally, there are strategies on how to manage risks and exit the market.
- It has a certificate, nine lessons and 70+ videos.
TargoSwiss Awards – Company Achievements
Here we’ll get a glimpse of false glory. TargoSwiss does not stop bragging about its management having more than 30 years of experience and winning prestigious awards. Best CFD Broker, Best Execution Broker, Best Trading Platform, you name it.
Obviously, these are all lies and can be easily checked. For example, the Best Trading Platform at the London Summit 2020 was awarded to CMC Markets Connect according to Finance Magnates.
Leverage, Spreads and Fees
The leverage ranges from 1:100 to a huge 1:1000. Both are extremely risky for beginner retail clients, hence why most regulators had restricted leverage for FX pairs to 1:30. TargoSwiss claims to offer ultra-low spreads to entice traders but we’re not so sure about that considering the broker’s unauthorized status.
Scammers keep recycling the same fee clauses (i. g. $50 fee for inactivity) and this one is no different. It could be that the same person or group is behind several of these SVG-based schemes.
What Is Known About TargoSwiss’s Trading Conditions?
- The leverage is way too high for retail clients, especially beginners.
- Coupled with low spreads, it is designed to make the person invest constantly.
- No mention of crypto anywhere and then it suddenly appears in the “Spreads and Commissions” table.
- None of this matters since the min. deposit is $10,000 and no sane person would risk that kind of money.
Scammed by TargoSwiss Broker? – Let Us Hear Your Story
We know that being scammed by this fraudster is terrible and that’s why we’ve decided to put an end to its perilous scheme. TargoSwiss accepts two payment methods – credit/debit cards and wire transfers. If you are a victim, we have a solution to get your money back in form of a chargeback and recall.
A Chargeback And A Recall? What Are Those?
- Reversing credit/debit card transactions is possible via chargeback.
- It can be requested at your bank within 540 days.
- A recall could refund you the money sent via wire transfer.
- It is important to act quickly because it only works if the transaction hasn’t gone through.
What Is TargoSwiss?
TargoSwiss claims to be a broker that operates within the EU.
Is TargoSwiss a Scam Broker?
TargoSwiss is indeed a scam broker because it is unregulated and has stolen its legal section.
Is TargoSwiss Available in the United States or the UK?
The company is available both n the United States and in the United Kingdom.
Does TargoSwiss Offer a Demo Account?
TargoSwiss does offer a demo account as well as the liquid training academy.