70 Trades – According to statements made on the website of the provider https://70trades.com/, the online broker is a provider for online trading that offers its customers a wide range of services.

Accordingly, 70 Trades takes care of investment, trading plans, coaching in the field of trading as well as online trading with shares, commodities, currencies and indices.

If you have invested with 70 Trades and there are problems with the payout, the lawyers of the Herfurtner law firm are at your side with advice and support.

70 Trades – reconsider investments?

Currently, there is an extraordinarily high number of online trading platforms such as 70 Trades. This means that it has never been as easy, but also as uncertain, to invest in the volatile financial markets as it is today.

Precisely because there are numerous options, choosing a financial service provider can be time-consuming and intimidating. Especially if it is to meet your personal investment wishes. Are you considering investing with 70 Trades? In this case, the following aspects are weighty for you as an investor.

  • Licensed brokers on the internet, secure websites, costs and brokerage commissions, product options and customer reviews are just some of the aspects you should consider when making your final decision.
  • Access to the international stock markets is becoming more convenient and lucrative for investors through online investing.
  • Online trading allows for a number of order types.
  • An ideal place for investors to inquire about securities, futures, binary options and cryptocurrencies is an online presence like this one.

The following statements are basic advice for investors – regardless of the platform in which you invest capital.

Keep an eye on the big picture – correctly assess service providers like 70 Trades

Investors have a wide range of investment opportunities at their disposal, with reliable and questionable providers vying for their favour. There are many indications that a service as well as a product is not reputable, and it is essential to have a focus on this.

Here’s what to look out for in the event you invest your hard-earned assets. Banking, financial services and insurance companies such as 70 Trades may only operate in the FRG with government authorisation. The companies have obtained authorisation, but this does not mean that the products sold are of excellent quality.

In the event that a prospectus or information sheet approved by the German financial supervisory authority has been published beforehand, derivatives and investments may likewise be made available to the general public. BaFin alone ensures that the prospectuses are complete, comprehensible and coherent.

The prospectus or information sheet of 70 Trades is by no means necessary in every circumstance. Before investing money, consider your sustainable expectations and clarify whether you have the monetary means to achieve them. Do not rush the process.

Before you invest your assets in a deposit, take time to look at the pros and cons. Do not make a choice immediately, even if you have consulted with others.

Online trading provider 70 trades calls completely without notice?

Have you received a phone call in the past from a stranger offering you a special deal? Do not answer under any circumstances. Unwanted calls are illegal. “Cold calling” is clearly prohibited at investment service providers and similar companies such as 70 Trades.

There are also people who claim to work for reputable internet trading platforms. In doing so, they want to get people to provide them with their sensitive information. Often, after your very first deposit, you are asked to deposit more assets.

Phone scammers are always coming up with new scams to deprive investors of their savings, cash and other valuables. A common tactic used by the criminals is to call the people they want to harm at inconvenient times of the day.

This is, for example, very early at dawn or very late at night. Times, in other words, when they are least concentrated. In addition, the perpetrators pretend at the beginning of the conversation that they and the person being called know each other.

The other possibility is to pretend that the callers are friendly. By doing this, the perpetrators give the person they are talking to on the phone a feeling of goodwill and trust. Check whether you are really dealing with the company 70 Trades when you are contacted by phone.

What are the disadvantages of the grey capital market?

Only a small proportion of financial market participants such as 70 Trades are subject to official regulation and supervision. In the grey capital market, service providers are positioned that do not even need a licence from the Federal Financial Supervisory Authority and only have to comply with a few regulatory criteria.

Only invest in the grey capital market if you are certain of the provider’s creditworthiness and know it as a company. As I said, the Federal Financial Supervisory Authority has no control over these providers. The grey capital market offers a variety of options. There are:

  • Crowdfunding offers
  • Loans with subordination clauses
  • Ordinary bonds
  • Direct investments such as in timber, precious metals or other commodities
  • Profit participation rights and other hybrid bond forms

One thing is certain: it is uncertain how it will ultimately turn out for the investor. Do you find it difficult to understand the financial product on offer? Then you should find out as much information as possible before making a decision. Don’t buy anything you don’t fully understand!

When it comes to financial transactions, the more know-how you need, the more sophisticated the financial product. It is also not recommended to put all your capital on one card. Diversify your risk beyond 70 trades.

To avoid being wrongly influenced, it is advisable to always focus on the product itself and not on the brand name or the reputation of the financial service.

Deal with the disadvantages of cyber trading

Classic investment fraud is carried out using well-known methods such as advertising, “cold calling” or stock market letters. When it comes to conducting fraud, the outdated approach quickly becomes obsolete in the online age. The new type of financial fraud can be described with the term “cybertrading”.

Investment products are traded fraudulently over the internet here. The dishonest investments include financial products such as contracts for difference and cryptocurrencies. The offers of 70 Trades have also been used by other service providers in a similar way to hoodwink capital investors.

Capital investors are inquiring more and more about investment options on the web themselves. Thus, people rely on their individual knowledge or on the tips of others in weblogs, forums and other online platforms when making their decision.

The shift to ever new financial products has no long-term impact on the illegal activities in terms of gang structure. Since the criminal groups rely on already existing and widely accepted infrastructures, there is no need to switch to a new “business model”.

No matter what kind of financial product is traded, the process of cybertrading is almost congruent. These financial instruments are aggressively advertised in social media or with paid advertisements.

In this case, it is virtually all about the illustration of gigantically high profits. Calculate the probability of earning high profits on 70 trades before investing money.

Insist on clearly identifiable exit alternatives

Make sure you know when and how much money will be paid out. Optimally, bypass long-term contracts that cannot be terminated early or where you would experience significant monetary losses.

Enter into long-term contracts without the possibility of early termination solely with investment service providers such as 70 Trades, whose reliability you have no doubts about. Even if you have the option of waiving a contract at any time or cancelling it over a specific period, be critical.

Even if these options are available, you may still be vulnerable to economic losses. Make sure you know exactly how much capital you will recover if the money deal goes wrong. For securities transactions, the following rule applies:

Find out what options you have to get rid of share certificates before the end of the contract period.

It is often crucial to know whether there is a liquid market for offers such as those made by 70 Trades. It is possible to sell securities through a broker or a financial institution. All 3 options are legitimate for placing a sell order.

The actual selling process is therefore carried out via a securities exchange (e.g. Berlin, Stuttgart, Frankfurt, Tradegate or Xetra) (e.g. for penny stocks). With order supplements, the execution of the order can be controlled from the outset. The sale of the securities takes place at a time and place determined by you.

Recover funds from 70 trades: Lawyers help

If you have already made deposits on 70 Trades and would now like to get them back, there are various methods.

  1. If payments have been made to accounts abroad, the law enforcement authorities and financial institutions based abroad should also be informed. These then often initiate additional investigations of their own. This also pursues the intention of seizing sums of money in the accounts and then transferring them back to our clients.
  2. As soon as no solution with the service provider is conceivable, there is the option of filing a complaint with the competent authority. This authority examines the facts and has the option of ordering the financial service provider to pay compensation. Our client then gets the money back from the service provider. Addresses for complaints can be, for example, financial supervisory authorities as well as the Financial Ombudsman.
  3. If an analysis by our lawyers confirms the suspicion that the financial service provider may have acted unfairly, we file a complaint with the responsible criminal authorities on behalf of our client. Our law firm is in regular dialogue with public prosecutors’ offices, which manage investigations throughout Germany. There are often hundreds or even thousands of aggrieved investors in these proceedings. The investigations also extend to other countries on a recurring basis. In the past, the public prosecutor’s offices have repeatedly achieved significant successes.
  4. If there is a suspicion that the accounts into which our clients have deposited money are part of a money laundering system, it is possible to have these bank accounts blocked. Payments to these accounts can then be reclaimed from the receiving bank.
  5. Often, a solution to the problem can be worked out with the provider itself. In many cases, we manage to reach out-of-court settlements with the platforms. Our clients then get all or part of their transfer sum back.