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Targo Bank foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.targobank.de/, about the company's legal and temporary regulatory information, the company's address .

Targo Bank Forex Broker

Basic Information

Registered Region

Germany

Operating Period

Company Name

Targo Bank

Abbreviation

Targo Bank

Company employee

Contact Number

0211-900 20 111

Company Website

https://www.targobank.de/

Keywords

5-10 years

Suspicious Regulatory License

High potential risk

Company profile

Targo Bank Review Summary in 6 Points Founded 1999 Registered Country/Region Germany Regulation Unregulated Financial Services Private: Account & Cards, Savings & Investments, Custody account and securities, Credit, Installment loan, Insurance; Business: Business Account, Business Credit, Business Credit Cards, Business call money account; Corporate: Factoring; Leasing & Investment Financing; Car Bench; Sales financing Trading platform TARGOBANK BANKING APP Customer Support Phone, contact us form, social media What is Targo Bank？ Targo Bank, a Germany-based bank, offers its traders a broad spectrum of banking services encompassing private, business and corporate segments. It currently operates under no valid regulations from any recognized bodies which raises concerns regarding its credibility. In the following article, we plan to review and evaluate the characteristics of this financial organization from multiple angles, presenting data in a precise and organized manner. If this information appeals to you, we invite you to keep reading. At the end of the article, we will offer a brief recap encapsulating the standout qualities of the bank, enabling you to grasp its salient features quickly. Pros & Cons Pros Cons • Wide range of financial instruments and services • Unregulated • A large number of branches over Germany Targo Bank, spanning across Germany with a vast network of branches, offers an expansive range of banking and financial services catering to various customer needs. This extensive portfolio and their geographic reach stand as the primary advantages of banking with them. However, a considerable drawback is their unregulated status, which could raise credibility concerns as regulatory oversight often provides a level of assurance to customers regarding operational safety and consumer rights protection. Therefore, customers should tread with caution while dealing with unregulated institutions. Is Targo Bank Safe or Scam？ When considering the safety of a bank like Targo Bank or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a bank: Regulatory sight: Presently, Targo Bank is functioning without compliance to any valid regulations, raising substantial concerns about its operations, legality, and the level of safety it provides for its clients investments. User feedback: To gain an in-depth perspective of the brokerage, it is recommended that traders delve into reviews and experiences shared by current users. These valuable insights, found on trustworthy websites and discussion forums, can provide a more encompassing view of the broker's operation. Security measures: Targo Bank has implemented a privacy policy, serving as a protective measure to secure user data, thus promoting confidence among its worldwide client base. In the end, the choice to engage in trade with Targo Bank is a deeply personal one. It's crucial to carefully balance the potential risks and advantages before coming to a decision. Financial Services Targo Bank offers a broad spectrum of financial services across different sectors: Private Banking: This includes services such as Account and Cards, Savings and Investment Opportunities, Custody accounts and securities to help in safeguarding and growing one's wealth. The bank also provides credit facilities and installment loans for short-term financial needs, alongside a suite of insurance products for security. Business Solutions: Tailored for business clients, the bank offers a specialized Business Account, Business Credit, Business Credit Cards, as well as a Business call money account to facilitate effective business management and development. Corporate Services: To address the complex financial needs of corporations, the bank provides Factoring; Leasing & Investment Financing solutions; a Car Bench, and Sales financing services. All these contribute to the smooth financial operation of any corporate entity. Trading Platform Targo Bank is committed to leveraging modern technology for their customer's convenience. They have introduced a web-based application, known as TargoBank banking app, broadening access to their variety of financial services. This application remarkably simplifies banking operations and financial management for their customers, offering the comfort of carrying out transactions, checking balances, and more, irrespective of time or place. Serving a wide range of banking functions, this app flaunts an easy-to-use interface that caters to the tech-savvy as well as the less digitally inclined customers. With its availability on both iOS and Android platforms, it efficiently adapts to diverse customer preferences in digital tools. Customer Service For any inquiries or concerns, clients can contact Nurol Bank through several channels. They can reach out via the phone and contact us form. Email assistance is available utilizing the address. Alternatively, clients can also visit or send mail to the Nurol Bank's physical location at its headquarter. Address: Buyukdere Cad. Nurol Plaza No: 255 Kat: 15/1502 34485 Maslak Sarıyer, İstanbul. Tel: +86 400-120-2008（Free for PRC）/+852 28330526 Fax: 852-28330558 Email: nurolbank@nurolbank.com.tr. Phone: 0211 - 900 20 900(Monday to Fri 08:00 - 20:00). For more details traders can visit: https://www.targobank.de/de/service/rufnummern.html. Conclusion Nurol Bank is a comprehensive financial institution offering a wide range of services targeted at private, business, and corporate clients and has over 300 branches over Germany. The bank leverages modern technology, such as the TargoBank banking app, to make banking simpler and more convenient. However, its operations currently abide by no official regulations, which raises concerns about its legitimacy and operational safety, as regulated institutions are generally obliged to follow industry norms. Therefore, potential investors are fervently urged to conduct thorough investigations and engage directly with Targo Bank, to obtain the most recent and accurate information before they settle on any solid service or investment decisions. It's critical to fully grasp the potential risks and rewards associated with their financial services to make informed decisions. Frequently Asked Questions (FAQs) Q 1: Is Targo Bank regulated？ A 1: No. It has been verified that this bank is currently under no valid regulations. Q 2: What kind of services does Targo Bank offer？ A 2: Targo Bank is a Turkey-based bank offers private, business and corporate banking and financial services to traders. Q 3: Is Targo Bank a good bank for beginners？ A 3: No. It is not a good choice for beginners because its not well regulated. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Targo Bank broker review

Is Targo Bank safe or scam

Rating Index

How to login to Targo Bank?

Targo Bank Complete Account Guide: Registration, Account Opening, and Login Processes Welcome to the comprehensive guide on managing your Targo Bank account. This guide will walk you through the processes of registration, account opening, and login, ensuring you have all the necessary information to

Targo Bank Forex Broker - Complete Information Guide

1. Broker Overview

　　Targo Bank AG, commonly referred to as Targo Bank, was established in 1926 and is headquartered in Düsseldorf, Germany. As a significant player in the financial services sector, Targo Bank operates as a private institution under the ownership of Crédit Mutuel Alliance Fédérale, which acquired it in 2008. The bank primarily serves retail, business, and corporate clients, providing a wide array of banking and financial services.

　　Over the decades, Targo Bank has undergone several transformations, including its previous association with Citigroup, which lasted until 2010 when it was rebranded from Citibank Privatkunden AG to Targo Bank. The rebranding aimed to enhance the bank's identity and service offerings, reflecting its commitment to customer-oriented banking solutions. Today, Targo Bank operates over 335 branches across Germany, making it one of the larger banking employers in the region.

　　Targo Bank's business model encompasses a comprehensive range of services, including retail forex trading, which positions it as a notable Targo Bank broker in the market. The bank's focus on customer service and product diversity has enabled it to cater effectively to various customer needs, establishing a strong presence in the financial landscape.

2. Regulatory and Compliance Information

　　Targo Bank is regulated by the Federal Financial Supervisory Authority (BaFin) in Germany. This regulatory oversight is crucial, as it ensures that the bank adheres to strict legal and operational standards, providing a level of security for its clients. However, it is important to note that Targo Bank has faced scrutiny regarding its regulatory compliance status, with some sources indicating that it operates under suspicious regulatory licenses.

　　The bank's regulatory information includes:

Regulatory Authority: BaFin
License Validity: The specific license details and validity periods are not publicly disclosed.
Client Fund Segregation Policy: Targo Bank is required to segregate client funds from its operational funds, ensuring the safety and return of client assets in case of insolvency.
Investor Compensation Fund Participation: Information regarding Targo Bank's involvement in investor protection funds is not explicitly stated, raising concerns about the level of protection available to clients.
KYC and AML Compliance: Targo Bank implements Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to ensure compliance with regulatory standards.

　　Despite the regulatory framework, potential clients should exercise caution and conduct thorough research before engaging with Targo Bank, as the lack of comprehensive regulatory clarity may pose risks.

3. Trading Products and Services

　　Targo Bank offers a diverse range of trading products and services, making it an appealing option for various types of traders. The bank provides access to numerous forex currency pairs, including major, minor, and exotic pairs, catering to both retail and institutional clients.

Forex Trading

Number of Currency Pairs: Targo Bank provides access to a wide selection of forex pairs, enabling traders to engage in diverse trading strategies.
Main Currency Pairs: The bank primarily focuses on major currency pairs such as EUR/USD, GBP/USD, and USD/JPY.

CFD Products

　　In addition to forex trading, Targo Bank offers Contracts for Difference (CFDs) across various asset classes, including:

Indices: Major global indices such as the DAX, S&P 500, and FTSE 100.
Commodities: Precious metals, energy products, and agricultural commodities.
Stocks: A selection of stocks from leading companies across different sectors.
Cryptocurrencies: Targo Bank has started to include cryptocurrency trading options, reflecting the growing demand for digital assets.

Special Products

　　The bank continuously updates its product offerings, introducing new trading instruments based on market demand and trends. Retail trading services are complemented by institutional services, including tailored trading solutions for larger clients.

4. Trading Platforms and Technology

　　Targo Bank provides various trading platforms to accommodate the diverse needs of its clients. The primary platform offerings include:

MetaTrader Support

MetaTrader 4/5: Targo Bank supports both MetaTrader 4 and MetaTrader 5, popular platforms among forex traders for their robust charting tools and automated trading capabilities.

Proprietary Platforms

Targo Bank also offers a proprietary trading platform, designed to provide a seamless trading experience with advanced features tailored to client needs.

Web-Based Trading

The bank's web-based trading platform allows clients to trade directly from their browsers, providing flexibility and ease of access.

Mobile Applications

Targo Bank has developed mobile applications for both iOS and Android, enabling clients to manage their trading activities on the go.

Execution Models

Targo Bank operates under a hybrid execution model, combining elements of ECN (Electronic Communication Network) and Market Making to provide competitive spreads and execution speeds.

Technical Infrastructure

The bank's trading servers are strategically located to ensure low latency and high availability, enhancing the overall trading experience.

API Access

Targo Bank offers API access and support for automated trading, allowing clients to implement algorithmic trading strategies.

5. Account Types and Trading Conditions

　　Targo Bank offers several account types to meet the varying needs of its clients. These include:

Standard Accounts

Minimum Deposit: The minimum deposit requirement for standard accounts is competitive, allowing new traders to start trading with a manageable investment.
Spreads and Commissions: Targo Bank provides tight spreads on major currency pairs, with commission structures that vary based on account type and trading volume.

Advanced Account Types

VIP and Professional Accounts: For experienced traders, Targo Bank offers VIP and professional accounts with enhanced trading conditions, including lower spreads and higher leverage.

Special Accounts

Islamic Accounts: Targo Bank provides Islamic accounts that comply with Sharia law, offering swap-free trading options.
Corporate Accounts: Tailored solutions for corporate clients, allowing for customized trading conditions.

Demo Accounts

Targo Bank offers demo accounts for clients to practice trading strategies without risking real capital. This feature is particularly beneficial for beginners to familiarize themselves with the trading environment.

Leverage and Minimum Trade Size

Targo Bank provides a range of leverage options depending on the asset class, allowing traders to amplify their positions. The minimum trade size is also competitive, catering to both retail and institutional traders.

Overnight Fees

Targo Bank applies overnight fees for positions held beyond the trading day, with the specifics varying based on the account type and asset class.

6. Fund Management

　　Targo Bank facilitates various deposit and withdrawal methods to ensure smooth fund management for its clients. The available methods include:

Deposit Methods

Bank Transfers: Clients can fund their accounts via bank transfers, which may take several days to process.
Credit/Debit Cards: Targo Bank accepts major credit and debit cards for quick deposits.
E-Wallets: Popular e-wallet options are also available, providing instant funding capabilities.

Minimum Deposit Requirements

The minimum deposit varies by account type, with standard accounts requiring a lower initial investment compared to advanced account types.

Deposit Processing Times

Deposits via credit cards and e-wallets are generally processed instantly, whereas bank transfers may take longer.

Withdrawal Methods and Limits

Targo Bank provides multiple withdrawal options, including bank transfers and e-wallets. Withdrawal limits may apply based on account type and regulatory guidelines.

Withdrawal Processing Times

The processing time for withdrawals typically ranges from one to five business days, depending on the method chosen.

Fees Structure

Targo Bank may charge fees for certain deposit and withdrawal methods, which clients should review before initiating transactions.

7. Customer Support and Educational Resources

　　Targo Bank offers a range of customer support channels to assist clients with their inquiries and issues. Support options include:

Support Channels

Phone Support: Clients can reach customer service via telephone during business hours.
Email Support: Email assistance is available for non-urgent inquiries.
Live Chat: An online chat feature is offered for real-time support.
Social Media: Clients can connect with Targo Bank through various social media platforms for updates and support.

Service Hours and Time Zone Coverage

Targo Bank's customer support operates during regular business hours, providing coverage primarily during the European time zone.

Multilingual Support

The bank offers support in multiple languages, catering to its diverse client base.

Educational Resources

Targo Bank provides various educational resources, including webinars, tutorials, and eBooks to help clients improve their trading knowledge and skills.

Market Analysis Services

Clients have access to daily market analysis, news updates, and research reports, enabling informed trading decisions.

Trading Tools

Targo Bank offers a range of trading tools, including calculators, economic calendars, and signal services to assist traders in their strategies.

8. Regional Coverage and Restrictions

　　Targo Bank serves a broad market, focusing primarily on clients within Germany and the European Union. The bank has established a significant presence in these regions, with numerous branches and offices.

Regional Offices

Targo Bank has multiple branch locations across Germany, ensuring accessibility for its clients.

Countries Not Accepted

Targo Bank does not accept clients from certain countries due to regulatory restrictions. Specific countries may vary, and clients should verify their eligibility before opening an account.

Special Restrictions

Regulatory compliance and local laws may impose additional restrictions on trading for clients from specific regions, impacting their ability to engage with Targo Bank's services.

　　In conclusion, Targo Bank is a notable player in the banking and financial services sector, providing a wide range of products and services. However, potential clients should be aware of the regulatory landscape and conduct thorough research to ensure they make informed decisions regarding their trading activities with Targo Bank, the Targo Bank broker.

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