Erscheinung:26.04.2024 | Topic Unauthorised business, Consumer protection MarginsTrade: BaFin warns consumers about the website marginstrade.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company MarginsTrade and the services it is offering. BaFin suspects the operators of the website marginstrade.com of offering consumers financial and investment services without the required authorisation. The operators claim the website is a platform where consumers can trade in shares, bonds, currencies, commodities and crypto assets.
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.
