Buffets Finance – The alleged online broker Buffets Finance is, according to its own information, a provider of a trading platform with which customers can allegedly easily earn returns in the financial markets.

The company presents itself as an expert in finance. Cryptocurrencies, shares and other investments are their main business. However, doubts arise because the most important basic information about the alleged brokers cannot be found on the website.

Table of contents

  1. Buffets Finance – Review
  2. Buffets Finance Website
  3. Contact Buffets Finance
  4. Buffets Finance Authorisation
  5. Regulatory alerts from financial regulators about Buffets Finance
  6. Online trading tips
  7. What to do in case of losses

Parallel to the question of whether Buffets Finance offers an adequate range of services, it is relevant to look at the principles for successful online trading. Our lawyers will also take a position on how Buffets Finance should be classified in relation to other financial services.

In addition, we will assist and support you in the event of ambiguities and disputes in connection with Buffets Finance.

Buffets Finance – Review

Buffets Finance’s website makes it clear that they promote their trading platform with the latest tools and experienced advisors. This should make it easy for clients to invest their money properly and make profits.

However, the money has to be invested via the platform and thus handed over to the care of the brokers. In addition, it is necessary that the personal data of the clients are openly disclosed. But who is behind the company and what happens with the money and the data is not clear.

Potential clients have four different accounts at their disposal, through which they can access a certain number of benefits. Each requires sensitive data and direct initial investment. However, as no responsible persons are listed by the website, this offer should be taken with a grain of salt.

The web presence of Buffets Finance

The service provider Buffets Finance presents itself on the Internet with an English-language website at the URL https://buffets.finance/.

CEO

According to §6 of the German Media State Treaty (MDStV), the name of the person responsible for the content of the website must be displayed in the imprint. This is often a member of the provider’s management.

Naming the persons responsible is not only obligatory, but also a sign of transparency. In March 2022, no data on responsible persons could be found on the website of Buffets Finance.

Imprint information

In Germany, according to §5 of the German Telemedia Act (TMG), there are general information obligations and mandatory details for the imprint. Accordingly, this obligation for “provider identification” applies to all commercially operated websites.

This is because this information is intended to inform the user of a website who he or she is dealing with. Last but not least, the address of the website operator plays a role if legal claims are to be enforced against him.

Also relevant in this context is the fact that keeping an imprint also applies to providers based abroad who carry out their business activities in this country. In March 2022, no imprint could be found on the website of Buffets Finance.

Background to the domain

Some companies use their many years of practical experience to suggest trustworthiness. However, such declarations are often contradicted by the registration date of the domain.

It is therefore necessary to investigate who registered the domain and when the domain was registered. Our lawyers have queried the data on the provider Buffets Finance on 11.03.2022 with the following result:

  • Domain Name: buffets.finance
  • Registry Domain ID: 0e5ce651df1e46f9ae809aba620eb16c-DONUTS
  • Registrar WHOIS Server: whois.namecheap.com
  • Registrar URL: https://www.namecheap.com/
  • Creation Date: 2022-01-24T13:48:53Z
  • Registrar Abuse Contact Email: abuse@namecheap.com
  • Registrar Abuse Contact Phone: +1.9854014545

Operating company and trademark

The name of the online presence or the trading platform or the offer is not necessarily congruent with the operating company. In the past, it was not uncommon for providers to be present on the market with many different trademarks at the same time.

Moreover, it is a widespread practice of some providers to remove the websites of incriminated trademarks and to return to the market with a new trademark a short time later. For this reason, when researching news and facts about a provider, it is a good idea to look not only at the trademark but also at the operating company.

The relevant data can be found either in the imprint or often also in the footer of a website. In the footer of the website you can read that Buffets Finance is the trademark of INVEST PTY Ltd.

Buffets Finance contact details

At the time of writing, the following information was available on the Buffets Finance website:

  • Buffets Finance email address: support@buffets.finance
  • Buffets Finance phone number: +442 0452 42367
  • Address of Buffets Finance: not specified

Buffets Finance Authorisation

The existence of a valid authorisation from an official European financial supervisory authority can be an important criterion for determining whether a provider of financial services is reputable. This is because the granting of a licence requires a considerable economic effort on the part of the service provider.

Nevertheless, it does not necessarily have to be a case of fraud if an online broker omits information on its authorisation or its own regulatory status. The following financial regulators, among others, are responsible for granting authorisation and supervising financial service providers such as Buffets Finance:

  • FINMA, Switzerland (Swiss Financial Market Supervisory Authority)
  • SFC, Hong Kong (Securities and Futures Commission)
  • AMF, France (Autorité des marchés financiers)
  • CMVM, Portugal (Comissao do Mercado de Valores Mobiliarios)
  • BaFin, Germany (Federal Financial Supervisory Authority)

Buffets Finance’s internet presence shows the registration number “#621 771 355” of the Australian Financial Advisers Register (ASIC) in March 2022. Investors can discuss what this matter entails in an exchange with a lawyer at our law firm.

Warnings from financial regulators about Buffets Finance

At the current time of writing, there have been no notices or warnings from any official authority about Buffets Finance.

Before trading at Buffets Finance and others – online trading tips

Online trading like Buff ets Finance is the extension of traditional trading in financial instruments to the web. Here, as there, investors act with the aim of generating income through the acquisition and disposal of assets. Trading is no longer limited to shares. Rather, investors also have the following options to choose from, for example:

  • Money market funds
  • Commodities
  • Real estate
  • CFD Trading
  • Corporate bonds
  • Crypto Trading with Bitcoins and Altcoins, for example Binance Coin
  • Cash
  • Foreign exchange trading

Online trading is handled via interfaces such as brokers (like Buffets Finance) or banking institutions that provide their clients with special trading software. It is to be expected that in the future there will be more and more private investors who discover online trading for themselves.

All you need is an internet connection and a computer or tablet or smartphone.

Advantages of online trading

Digitalisation has also had a major impact on the world of finance, especially when it comes to trading like Buffet’s Finance. Because of the technical possibilities, trading has increased massively in speed.

Whereas investors and traders once had to place their orders by phone, fax or post, nowadays they can do so with a click of the mouse and with considerably less effort.

Aspects such as the duration and type of trade, prices and quantities or account details can nowadays be clarified without a personal conversation between a broker such as Buffets Finance and its customers. Consequently, the opportunity to trade online has brought about numerous conveniences:

  • The unpredictability of losses due to gaps decreases.
  • Numerous tools can be applied automatically and directly.
  • Online traders have numerous tools and various indicators at their disposal.
  • Transaction fees have dropped rapidly as individual telephone advice is no longer required.
  • The pool of tradable assets is broader and deeper.
  • Profits can be made even with a small investment.
  • Learning materials for online trading, knowledge pools, analyses or trading courses are provided in many places by the house.

Furthermore, online trading not only brings advantages in terms of the uncomplicated use of the trading platform. Above all, due to the analysis options, indicators and the various tools, the investor enjoys noticeably more comfort.

The times when you had to draw your own price trends or make your own calculations are over. Online trading platforms now offer their clients a wide range of order types that online traders can execute themselves with a day trading broker of their choice.

Novel assets: crypto trading with digital currencies

But it is not only trading itself that has been significantly influenced by digitalisation. For the unstoppable technologisation has provided online exchange traders with a new field of action: trading with digital assets. This is particularly important for brokers (such as Buffets Finance).

The most popular cryptocurrencies include Bitcoin and Ethereum. Bitcoin was the very first cryptocurrency, which is why all other digital currencies are called “alt-coins”. Today, there are thousands of tradable crypto assets and the landscape is incredibly volatile.

As a result, fresh coins are constantly coming onto the market and many disappear just as quickly as they were released. For investors, this entails opportunities as well as risks, which are, however, noticeably amplified in comparison with traditional investments due to the lack of consistency.

For investors, newly issued cryptocurrencies are basically like a game of chance at the roulette table. With a little luck, the stake can be multiplied significantly. However, the probability of losing all the money is also enormously high.

Therefore, it might be a more advantageous decision for cautious traders to focus on the strongest crypto stocks in terms of market value, which have been traded for a long time and have a relatively large market capitalisation.

The alternatives to Bitcoin and Ethereum

Apart from Bitcoin and Ethereum, the Binance Coin, Solana, Cardano or Ripple should be mentioned in this context. Cardano and Solana in particular can be considered more modern and future-oriented than Bitcoin and Ethereum.

While the former are the subject of discussion due to their energy-intensive “proof of work” mechanism, the latter rely on the less energy-intensive “proof of stake” mechanism. In addition, the blockchain-based projects Cardano and Solana allow the use of so-called smart contracts.

Further projects are emerging in the respective ecosystems, such as Solanart, a marketplace for so-called “non-fungible tokens”, or NFTs for short. These can be used in decentralised finance, for example.

There, they help to implement security mechanisms that ensure the originality of transactions and the correctness of each submitted order. Ultimately, investors will find an enormously wide range of cryptocurrencies to invest in.

However, crypto trading is primarily recommended for investors who are extremely risk-averse. Incidentally, the same applies to crypto trading: be careful when choosing a service provider. Unfortunately, there are many documented cases of fraud and cybercrime in which crypto exchanges have played a leading role.

The disadvantages of online trading

Where there is light, there is also shadow, this basic rule also applies to online trading. Accordingly, in addition to the advantages, there are also a number of disadvantages that inclined investors should integrate into their considerations:

  • The existence of fraudulent trading platforms has led to immense risks of loss.
  • Compared to conventional trading, it is rather hasty.
  • Investors should already be experienced in trading and follow resilient strategies.
  • Investors should constantly keep an eye on price movements.
  • If wrong decisions are made, there is a risk of high losses.

Especially risky day trading is not suitable for investors who are dealing with the topic of trading for the first time. This is because the risk of incorrectly predicting price developments is considerable, and because of the time pressure it is difficult to make adjustments.

Accordingly, this type of trading is rather worthwhile for very experienced or particularly risk-averse investors. If someone falls into this category, day trading is a way to generate results in a timely manner. In addition, one profits, for example, from the omission of fees for holding positions overnight.

Because these financing costs must also be included in the overall consideration of a financial investment. Moreover, you literally save yourself a rude awakening in the morning if there were immediate and drastic price changes. Such “gaps” develop quickly due to bad reports about a company.

On the other hand, one quickly sees successes in the event that one can report a profit at the end of a trading day. It is also relevant for day traders to compare the trading fees of the different brokers. Here it may be advisable to opt for a flat rate in the form of a flat rate.

This is especially worthwhile if you trade more frequently and individually invoiced order fees would significantly reduce your profits.

Recognising dangers

In order not to increase the dangers of online trading unnecessarily, it is advisable to check which provider you want to trade with. From the experience of our law firm, a number of questions have emerged that can be used to identify potential risks. Applied to the example of Buffets Finance, these would be as follows:

  • Does Buffets Finance promise particularly high surpluses and hide the risks or play them down?
  • Is there an imprint on Buffets Finance’s online presence and can credible information on the provider’s place of business be found?
  • Are there reports on the experiences of other investors, what opinions are expressed in forums?
  • Are there any official warnings concerning Buffets Finance?
  • Did the exchange with Buffets Finance take place on the basis of an unsolicited telephone call?
  • Is Buffets Finance regulated by a European financial supervisory authority and is the provider subject to government supervision?
  • Are there any warnings from solicitors or law firms acting for clients who have suffered losses in connection with Buffets Finance?

What to do if you lose

If you fear that you have been defrauded in trading, it is recommended that you immediately stop any additional payments. This applies especially to the circumstance that the online broker suggests additional payments to make up for deficits.

In addition, one should try to recover the lost capital. In this context, aggrieved investors can seek investor protection and contact the lawyers of our law firm.

Our law firm examines both civil and criminal options and possible claims for damages against the service provider and against implicated payment service providers such as banking institutions.

“A private investor who loses money in online trading is by no means an isolated case. Many investors are blinded by the professional appearance of the companies and only realise too late that they are not responsible for their losses.”

Our advice is therefore not to despair, but to react swiftly and with commitment. Because the prospect of recovering the lost capital is often greater than the aggrieved investors realise. Would you like to talk to one of our lawyers about Buffets Finance? Then click here to go directly to our contact area.