Erscheinung:06.06.2024 | Topic Unauthorised business, Consumer protection market-trend24.com: BaFin warns consumers about the company MarketTrend24
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company MarketTrend24 and the services it is offering. BaFin suspects the unknown operators of the website market-trend24.com of offering consumers financial and investment services without the required authorisation. The website claims to be a platform for opening trading accounts that can be used for trading in foreign currencies, shares, indices and cryptocurrencies.
The website operator is simply referred to as “MarketTrend24”, and there is no information regarding its legal form. The operator makes no reference to a registered office for the company; there is no legal notice.
Anyone wishing to conduct banking business or provide financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
Please be aware
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
