– According to information available on the company’s website, the provider is a provider of online trading and crypto trading that offers its customers a wide range of services. Accordingly, takes care of investments in forex, commodities, shares, indices and digital currencies.

The German financial supervisory authority states in a warning that it is investigating the operator of the online trading platform because it lacks the authorisation for its offer. You have invested with and want your capital back? The Herfurtner law firm will help you in case of difficulties. – why is BaFin investigating?

Currently, there is a very high number of online trading platforms such as As a result, investing in the volatile financial markets has never been as easy as it is today, but also as unsafe. Especially because there are so many options, choosing a broker can be time-consuming and challenging.

Especially if you want it to match your personal investment preferences. Have you already invested with Then the following points are relevant for you as an investor.

  • Authority-regulated online brokers, secure platforms, fees and brokerage charges, quote options and customer reviews are just exemplary aspects that you would need to consider when making your final decision.
  • When trading on the web, you can use a large amount of order types.
  • A suitable address for money investors who want to inquire about stocks, futures, options and cryptocurrencies is an online presence like this one.

The following information is basic advice for investors – regardless of the platform in which you invest money.

Is the financial service provider licensed?

Both financial markets and investor protection benefit from codes of conduct and organisational accountability. Equity service providers and companies like must comply with a wide range of standards of conduct. The same applies to their employees.

This is to circumvent conflicts and related disadvantages for investors. This includes the responsibility of the service provider to inform its clients about the most significant features of a financial transaction before sealing it. This applies to the specific investor as well as to the investment itself.

Along these same lines, enhanced disclosures are required for clients who wish to engage in highly speculative or risky transactions. In relation to their corporate clients, providers such as have a duty of care. This goes far beyond the provision of a product or service.

Is the service provider authorised to sell investment products? You should definitely check this. To do this, you can use the broker check directory of a financial supervisory authority and enter the brand name of the provider in the search mask. – distinguish trustworthy investment recommendations from questionable offers

Is persuading you to try investments with a small amount? You cannot find any information about the company because it is supposedly a recently founded company with innovative business ideas? The probability is high that the “insider” tip is pure rip-off.

After a short time, the service provider will tell you that your investment was a huge success and appeal to you to increase your investment. The success of your trial investment may awaken in you the desire to make additional investments. Here are some examples of dubious investment tips:

  • “5-star stock with a dividend of 47.88%”
  • “With just 5 minutes of your time, you can become a billionaire.”
  • “Earn €3500.00 per calendar month with the automatic share profit method!”

Anyone who promises too much, and that too unsolicited, is rarely serious! So also check which promises and offers are presented to you by the online broker

The great threat of unauthorised orders

Placing orders for securities transactions without the account holder’s consent can, in individual cases, lead to a sudden rise in the price of particular shares. This applies in particular to open market transactions in illiquid foreign shares (over-the-counter market).

Therefore, remain vigilant if you are asked to reveal sensitive data about the investment at completely without your permission, citing supposedly rewarding trades or profit announcements.

You should never give out your International Bank Account Number, Business Identifier Code and other bank codes to anyone you do not know. Likewise, you should not disclose your account or deposit numbers or passwords.

Do not hand over custody account documents or securities statements from to someone you do not know. Callers posing as investment advisors, brokers or employees of a financial regulator are also dangerous.

Broker refuses to pay out? Act promptly & contact a lawyer

Investors are often solicited by an “online broker” or a call centre representative as soon as they have set up an account on the alleged online trading platform. The aim is to get the investor to increase their long-term investments in order to maximise profits. This is also an initially legitimate goal of the financial service provider

Immediately after the investor has transferred his capital, the first profit developments may be shown on his account. This should motivate the investor to invest steadily in the financial product.

The operators of the trading platform, on the other hand, can use fraud software to fake account movements and income, even without the consumer being aware of it.

Check that accounts can also be authenticated at

In practice, no trading takes place on several online trading platforms per se. Rather, the money transferred is further transferred by the perpetrators to bank accounts abroad. This is not noticed by the investors at first.

The “service providers” delay the disbursement of the reported profits by demanding payment of allegedly due taxes and processing costs from the investors. The deceptive manoeuvres only serve the purpose of increasing profits.

At some point, the connection breaks completely. The money transferred is no longer there. From that moment on, the only way to take the necessary steps is to go to a lawyer.

Order commission – what is it?

Before investing with, find out how much of your investment amount is used to cover costs, fees and commissions. This is a good time to check the information provided by the providers in detail! Investors must be notified of all fees charged and their impact on the profit margin of investment service providers.

In addition, remuneration must be itemised. If you request a breakdown of all costs, the investment service providers are obliged to provide you with this information. An online broker such as is usually interested in as many trading transactions as possible for obvious reasons.

Often the fees are so enormous that it is difficult to make a profit. The costs can even eat up the invested assets in a very short time. Therefore, be sure to take the costs into account! The broker’s commission fees must be publicly available.

The transparency of the structure of the costs is likewise laid down in the legal rules and regulations. If there is a violation, the service provider’s regulatory licence can be withdrawn.

Refund from – get a law firm involved

In order to be able to assess whether you have a claim for a refund against the service provider, it is always necessary to examine your case in detail. The lawyers of the Herfurtner law firm will do this for you as part of a free initial consultation.

The starting point of this assessment is always the facts of the case as explained by you. In addition, similarities to similar cases can often be drawn. You therefore benefit from the comprehensive experience of our lawyers.

After the entire assessment of all documents and the legal classification, the action is first of all directed against the service provider itself, if certain breaches of duty can be proven. In order to be able to confirm these breaches of duty, the contract documents, the email communication and possibly other documents must be analysed.

In addition, regulated online trading service providers are also obliged to make and store telephone records of conversations with buyers. The demand for the handing over of these same documentations and the subsequent analysis is also an advisable and indispensable step in the enforcement of your claims.

With the help of this evidence, the buyer’s demands can be enforced both in extrajudicial and judicial proceedings.

The banks and crypto exchanges that are on the receiving end should also be focused on in this context. Since large sums of money are often involved, the question repeatedly arises as to whether the companies have fulfilled their duties to provide information and their obligations under the Money Laundering Act.

A general statement cannot be made here; rather, the case of the individual must be examined. The same applies to the beneficiary on the recipient side, who is very often not equivalent to the provider itself. Under certain circumstances, claims may also be made against the provider if breaches of duty can be proven.

After all options under civil law have been exhausted, action remains at the level of criminal law if the initial suspicion of a criminal offence is substantiated. This requires contacting investigative authorities at home and abroad and coordinating further precautions.

In the meantime, many federal states have set up special departments for online and crypto-trading fraud offences. The lawyers of the Herfurtner law firm are in constant contact with these departments. It should not be forgotten that web hosts also offer valuable information on domain holders.

However, contacting the web hosts, which are often located outside the EU, is extremely complicated for the layperson. Nevertheless, financial supervisory authorities in Germany and abroad are valuable contact points for investors who have suffered losses.

In addition to the complaint against the respective financial service provider, which is intended to protect other potential investors from investments, further information can possibly be obtained through the financial supervisory authorities as providers of information.

These details often make it possible to link investigative work in the FRG, Austria and Switzerland.