Bbitfx – on its own homepage the company describes itself as a platform for online trading. Bbitfx had offered its clients a wide range of services. The WWW page of the provider is currently no longer available.

The British Financial Supervisory Authority (FCA) points out in its warning that the provider may lack the authorisation to offer and provide such financial services.

If you have invested money with the investment service provider Bbitfx and there are now complications with the payout, our lawyers can advise you throughout the German-speaking area.

Bbitfx – how safe are customer funds?

Currently, there is an extremely high number of online trading platforms such as Bbitfx. Thus, it has never been as easy but also risky as today to invest in the volatile financial markets.

Especially because there are so many options, choosing a financial services provider can be time-consuming and challenging. Especially if you want them to meet your personal investment needs. Have you already invested with Bbitfx? Then the following aspects are important for you as an investor.

  • A very good address for investors who want to find out about securities, futures, binary options and cryptocurrencies is a website like this one.
  • In the area of trading on the internet, one can choose from numerous order types.
  • Online investing makes it more convenient and versatile for investors to access the world’s stock exchanges.
  • Officially licensed brokers on the internet, secure platforms, fees and commissions, bid options and ratings are just some of the features you need to factor in when making your final decision.

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

General risks and dangers of online trading on sites like Bbitfx

Just as the stock exchange and other financial markets are exposed to corresponding risks, so is online trading. As an investor, you should therefore examine Bbitfx with regard to the following questions:

  • Disadvantages that emerge from unclean or unqualified trading
  • Insufficient expertise about the product
  • Disadvantages that can be associated with the product in question, e.g. conceivable losses
  • Financial service providers who are not reputable

Reduce the risk by looking for a verified track record when choosing a financial service provider. In this context, it is also important that you are guaranteed reliable money management. This is the only way you can move confidently in the internet trading arena.

Traders who have a deft hand can certainly profit from this, and their earnings may be above average. Assuming they have the best approach. One thing should be clear to anyone starting out in trading: The risk of losing more money than deposited into the account of the online broker Bbitfx when trading on the stock exchange is always there.

Temporary offer at Bbitfx?

Do you feel the pressure of a tight deadline? The financial service provider is baiting you with a special offer, but you are under pressure to make a decision as quickly as possible? This is definitely not the best idea, because it is often a feint. Don’t rush into a decision.

Not only can you get excellent special offers now, but you can also invest with Bbitfx in the future. To achieve their goal, criminals know exactly what to do. They strain to receive as much info as they can about their targeted person through advantageously crafted enquiries.

On top of that, they ask about the condition of the person they are talking to, e.g. whether they are alone at home or whether they have any cash at home. Furthermore, they use a tactic of “wait and see” to drive the person to despair.

You can keep your counterpart on the phone forever until he or she agrees to go to the credit institution and hand over money and other valuables to the fraudsters. In one of these scams, a deadline pressure is imposed on the injured party.

With such a strategy, the injured party is made to disregard his own caution. Current support scams use the same method.

Since the contacted person’s computer is allegedly attacked by a particularly serious computer virus, the callers, presumably acting at the behest of Microsoft or a provider such as Bbitfx, demand urgent repayment of a maintenance contract in English with an Indian accent.

The criminals add to the stress, in the way that they threaten the targeted individuals to make them pay if their computer is infected and transmits the infections.

Grey capital market specifics

Only a small proportion of financial market participants such as Bbitfx are subject to official regulation and control. In the grey capital market, financial service providers trade who do not need BaFin approval and only have to comply with some regulatory criteria.

Only invest in the grey capital market if you are sure of the liquidity of the provider and it is known to you as a company. As said, BaFin has no control over these service providers. The grey capital market holds a wealth of possibilities.

There are:

  • Loans with subordination agreements
  • Participations in companies
  • Ordinary bonds
  • Direct investments such as in timber, precious metals or other commodities
  • Crowdfunding offers

One thing is certain: it is unclear what the final outcome will be for the investor. Is it not easy for you to see through the advertised offer? In this case, 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 experience you need, the more complicated the financial product. It also doesn’t make sense to put all your assets on one card. Spread your risk beyond Bbitfx. To avoid being influenced to your disadvantage, always focus on the product itself and not on the name or presentation of the financial service.

Aggressive marketing and difficulties with payouts – do you know this?

On questionable internet platforms, there are a multitude of capital goods which are relentlessly advertised in internet forums and social media to lure investors. In addition, “network marketing” is used to woo new investors. In the advertising, the guarantee of immediate profitability is emphasised above all.

In order to start investing, a potential investor must first create an account with the online trading platform – like Bbitfx. Next, the perpetrators contact the investor via a call centre and do everything they can to convince him to pay large sums of money.

The investors’ optimistic attitude towards cybertrading is partly reinforced by their desire for future profits. Buyers are more willing to invest in the future if they see exactly the kind of results they expect. At this stage, investors are being hoodwinked by a corrupted trading algorithm about the true evolution of stock market data and prices.

Bbitfx does not necessarily fall into this category. The backers use their own unilaterally defined price values when calculating returns. This means that the trading provider has complete control over whether a profit is made or not. Until the supposed profits are paid, this deception will continue.

When the moment of payment arrives, the clients suddenly no longer have access to their accounts and the individual contacts associated with them. The vast majority of investors lose all their money invested in such fraudulent trades, forcing them to seek the help of a lawyer.

Alleged services to recover investments?

Anyone who has ever lost funds to a fraudulent investment platform knows how fatal that can be. That alone is terrible enough. But on top of that, the rip-off artists behind the bogus scheme contact you within a short time by email or phone call. This time, however, they do not pretend to be brokers from Bbitfx.

Rather, they guarantee to help recover the lost capital in exchange for a payment. Many rip-off artists even seem to have been hired or instructed by trustworthy institutions such as a financial supervisory authority. After stealing your sensitive data, the scammers usually pose as good Samaritans.

They guarantee to help you recover the stolen money. Even if you have invested money with a provider like Bbitfx, your contact details may be stolen. Those who have lost a large amount of money are predominantly desperate. The criminals take advantage of people’s concern by calling themselves “recovery” companies.

They offer their services under the guise of helping them get their money back. That is, they guarantee in a dubious manner that they will get back the lost assets.

Recovering money invested with Bbitfx: Increase your chances

In case you have already made investments with Bbitfx and now want to get them back, there are various methods.

  1. If transfers have been made to accounts abroad, the foreign authorities and banks can also be informed in this case. These then often initiate their own investigations on top of that. This is also with the intention of securing sums of money in the accounts and then transferring them back to our clients.
  2. Assuming that no solution with the provider is conceivable, a complaint should be filed with the competent authority. The authority will review the facts and may order the investment service provider to pay compensation. The client will then receive this amount back from the provider. Complaints bodies can be, for example, tax authorities or financial ombudsmen.
  3. If there is a suspicion that the bank accounts to which our clients have transferred money are part of a money laundering system, it is possible to have these accounts blocked. Transfers to these accounts can then be reclaimed from the receiving bank.
  4. If the wire-pullers were to be arrested, claims by the investors who have suffered losses can be asserted in court proceedings. For this purpose, we take our clients through the so-called adhesion procedure. In this way, we are able to obtain court titles for our clients against the providers. As a rule, these can then be directly enforced against the confiscated assets of the fraudsters.