BTLux – The alleged financial service provider BTLux presented itself as an online broker on its online presence, which is currently offline.

If you have invested with the investment service provider BTLux and are now experiencing repatriation problems, our lawyers are here to help you.

BTLux – Trading Platform Assessment

Currently, there is an enormous number of online trading platforms such as BTLux. This means that investing in the volatile financial markets has never been as easy but also as uncertain as it is now. Especially because there are so many options, choosing a financial services provider can be time-consuming and daunting.

Especially if you want it to match your individual investment preferences. Are you thinking about investing with BTLux? If so, the following points are relevant for you as an investor.

  • A suitable place for investors who want to learn about shares, futures, options and cryptocurrencies is a website like this one.
  • Accessing the cross-border stock markets becomes more convenient and lucrative for investors through online investing.
  • When trading online, you can choose from a number of order types.

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

Invest money with BTLux? Know all the dangers of online trading beforehand

Just as the stock exchange and other financial markets are exposed to special risks, so is online trading. As an investor, you should therefore examine BTLux in light of the following aspects:

  • Threats arising from careless or incompetent trading
  • Risks and dangers that may be associated with appropriate products, such as possible losing trades
  • Providers who are unreliable
  • The risks of online security

Reduce the risk by placing emphasis on a verified track record when choosing a trading service. In this context, it is equally important that you are guaranteed secure money management. Only in this way can you move confidently in the online trading world. Traders who have a deft touch may very well benefit, and their profits may be high.

At least if they have the ideal strategy. One thing should be clear to anyone who starts trading: The danger of losing more money than was deposited into the account of the broker BTLux when trading on the stock exchange exists at any time.

Cold Calling – how does the unauthorised procedure work and does BTLux also work like this?

Have you ever received a call from a stranger who presented you with a special offer? Under no circumstances should you respond to it without checking carefully. Unwanted calls are not allowed. “Cold calling” is clearly not allowed with investment service providers and similar companies such as BTLux.

There are also people who pretend to work for trustworthy internet trading platforms. In doing so, they want to persuade people to entrust them with their personal information. Most of the time, after your first payment, you are asked to deposit more capital. Phone scammers are always coming up with new schemes to deprive investors of their savings, cash and other valuables.

A common strategy of the swindlers 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. In other words, times when they are least concentrated. In addition, the criminals pretend at the beginning of the conversation that they and the person being called are known to each other.

The other possibility is to pretend that the callers are willing to help. 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 BTLux company when they contact you by phone.

Investing in the grey capital market? Recommendations for your protection

Only a small proportion of financial market participants such as BTLux are subject to official regulation and control. In the grey capital market, there are investment service providers who do not need a licence from BaFin at all and have to fulfil nothing more than a few regulatory basics.

Only make an investment in the grey capital market if you are sure of the provider’s solvency and know it as a company. As already mentioned, the Federal Financial Supervisory Authority has no control over these financial service providers. The grey capital market contains a variety of options. There are:

  • Loans with subordination covenants
  • Ordinary bonds
  • Profit participation rights and other hybrid forms of bonds
  • Direct investments such as in timber, precious metals or other commodities
  • Corporate investments

One thing is certain: it is uncertain what the bottom line will be for the investor. Do you find it difficult to see through the financial product on offer? If so, you should gather as much information as possible before making a decision. Don’t buy anything you don’t fully understand!

When it comes to investments, the more know-how you need, the more sophisticated the product. It is also not recommended to bet your entire fortune on one horse. Diversify your risk beyond BTLux. To avoid being influenced inappropriately, it is recommended to always focus on the product itself and not on the brand name or the reputation of the financial service.

Aggressive advertising and complications when paying out profits – do you know this?

On questionable online trading platforms, there are a variety of investment goods that are relentlessly advertised on blogs and social networks in order to convince capital investors. In addition, “network marketing” is used to solicit new investors. The advertising emphasises above all the assurance of short-term profitability.

In order to start investing, a potential investor must first create a user account with the online trading platform – as is the case with BTLux. Then the supposed brokers contact the potential new customer via a call centre and do everything they can to convince him to invest large sums of money.

The investors’ hopeful attitude towards cybertrading is partly supported by the idea of future profits. Clients are more willing to invest in the future if they see exactly the kind of results they dream of. At this point, investors are misled by a manipulated trading algorithm about the true evolution of stock market data and prices. BTLux does not necessarily belong to this category.

The backers use their own unilaterally determined price values to calculate profits. This means that the trading provider has complete control over whether a profit is made or not. This deception continues until the alleged profits are paid out.

If the investor demands payment, the clients unexpectedly no longer have access to their accounts and the personal contacts associated with them. The vast majority of investors lose their money fully invested in such fraudulent trading, forcing them to seek the help of a lawyer.

Recognise Recovery Scam: The rip-off after the capital investment scam – protect yourself

Anyone who has ever lost capital to a fraudulent investment platform knows how devastating it can be. That alone is terrifying enough. But on top of that, the scammers behind the bogus entity will contact you by email or phone call within a short period of time. This time, however, they do not pretend to be online brokers of BTLux.

Instead, they guarantee to help you recover your lost capital in exchange for a payment. Many criminals even appear to have been hired or instructed by trusted organisations such as a financial regulator. After stealing your personal data, it is not uncommon for rip-off artists to pose as good Samaritans. They promise to help you recover the stolen money.

Even if you have invested money with a provider like BTLux, your contact information may be stolen. Anyone who has lost a considerable amount of money is usually desperate. Criminals take advantage of people’s desperation by posing as money recovery service providers.

They offer their services under the guise of helping them recover their capital. This means they promise in a dubious manner that they will get back the money they lost.

Do you want to get your money back from BTLux? Our law firm can help

In order to be able to assess whether you have a repayment claim against the financial service provider BTLux, it is necessary to examine the case in detail without exception. The lawyers of the Herfurtner law firm will do this for you as part of a free initial consultation. The starting point for this analysis is always the facts of the case as presented by you.

In addition, parallels to similar cases can often be noted. You therefore benefit from the extensive experience of our lawyers. After the complete examination of all documents and the legal classification, the approach is first and foremost directed against the provider BTLux itself, should corresponding breaches of duty be verifiable.

In order to be able to prove such breaches of duty, the contract documents, the e-mail communication and possibly other documents should be evaluated. In addition, regulated online trading providers are also obliged to make and store telephone recordings of conversations with investors.

The request to hand over such documentation and the subsequent evaluation is also an advisable and necessary step to enforce your claims. On the basis of this evidence, investors’ claims can be enforced both in extrajudicial and judicial proceedings. The financial institutions and crypto exchanges that are on the receiving end should also be focused on here.

Since large sums of money are often involved, the question repeatedly arises as to whether the companies have complied with their duties to provide information and their obligations under the Money Laundering Act. It is not possible to make a general statement in this regard; rather, the individual case must be examined.

The same applies to the beneficiary on the recipient side, who is often not identical with the service provider itself. Under certain criteria, it is also the latter who is to be held liable if breaches of duty can be proven.

After all options under civil law have been exhausted, there is still the option of proceeding under criminal law if the initial suspicion of a criminal offence is substantiated. This requires contacting law enforcement agencies at home and abroad and coordinating further precautions.

In the meantime, many federal states have established special units for the subject areas of fraud offences in connection with online and crypto trading. The lawyers of the Herfurtner law firm are in constant contact with these units. Our lawyers know that hosting providers also offer helpful information about the owner of the website.

However, contacting the web hosts, which are often located outside of Germany, is extremely difficult for the layperson. Tax authorities in Germany and abroad are also helpful sources of information for victims.

In addition to the complaint against the particular financial service provider, which is intended to protect other possible consumers from investments, additional details can possibly be obtained through the financial authorities as a source of information.

In many cases, this information makes it possible to link investigative work in the Federal Republic of Germany, Austria and Switzerland.