Erscheinung:21.03.2025 | Topic Unauthorised business, Consumer protection BaFin warns consumers about website checktrade24.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the website checktrade24.com. According to information available to BaFin, the operator is providing financial, investment and cryptoasset services on this website without the required authorisation.
The operator of the website refers to itself only as CheckTrade24 without stating the company’s legal form or providing any information on the location of its registered office.
BaFin has recently become aware of a number of websites with almost identical content and has also warned consumers about them. The majority of these websites display the introductory statement “Step Into the Trading Arena with Confidence & [name of website]”. On some websites, such as checktrade24.com, the sentence has been changed to “Step Confidently into the World of Trading with & [name of website]” (sic), while others display the wording “Enter the Trading World with Confidence & [name of website]”. However , the other content of the websites is essentially identical.
Anyone providing financial, investment or cryptoasset 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.
BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomärkteaufsichtsgesetz - KMAG).
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.
