Cash FX Group – The company offers a trading system for Forex trading. This information can be found on the website https://www.cashfxgroup.com/. Thecompany was founded by an international team of experts in project management, network marketing and financial markets.
The CFX team is committed to achieving exceptional results and staying one step ahead. A warning message casts doubt on the financial services provider Cash FX Group: Panama’s financial regulator has issued a warning notice about the company.
As a result, investors are advised not to invest with Cash FX Group without careful examination. This is because investors are probably exposing themselves to a high financial risk.
Cash FX Group – legal advisors are helpful
With offices in Hamburg, Frankfurt am Main, Munich and Grünwald, the lawyers of the law firm Herfurtner Rechtsanwaltsgesellschaft mbH are assisting investors who have suffered considerable losses from online trading. Other areas of practice include commercial law, capital market law and corporate law.
Have you had experience with Cash FX Group and would like to speak to a lawyer about it? You can contact us here.
Cash FX Group – Available information
Our lawyers have the following data on the provider Cash FX Group: Provider name: CASH FX GROUP, S. A. Postal address: RBS Tower Ave, Balboa with Calle Ramon H Jurado, 9th Floor, Punta Paitilla, Panama Registrierungsnummer: 155665763 E-mail address: support@cashfxgroup.com
Warning from a financial authority
On 01 September 2020, a warning notice was issued by the Financial Authority of Panama regarding Cash FX Group. It states that the company is not authorised to provide financial services subject to approval.
Regulation and authorisation of Cash FX Group
There is no information on the website about a licence and supervision by a state control body. According to the current state of knowledge, it must be assumed that the company does not have the necessary licences.
What companies like Cash FX Group intend to do
Due to the low interest rates on traditional investment products such as treasury bills or overnight money, private investors are looking for ways to invest their capital in products with better margins, such as those allegedly offered by Cash FX Group. But not all that glitters is gold.
Accordingly, investors research lucrative options and, as a result, often come across supposedly safe financial products with fantastic payouts. If one gets involved in this, the dream of quick money can be shattered and the person concerned can be brought rudely back to the hard ground of reality.
Foreign reference – what does that mean for the investor?
Due to the liberalisation of world trade and advancing digitalisation, it is now possible to offer services around the world and regardless of location. Accordingly, many companies are increasingly turning to European clients. An investment with a provider outside the national borders can turn into a disadvantage as soon as problems arise with the investment.
This is due on the one hand to possible language barriers and on the other hand to the distance, which complicates a personal conversation.
Where the dangers lie and how private investors can protect themselves
Most companies have an extremely well-designed website, which even experienced investors and entrepreneurs find professional and reliable. The draft contracts and general terms and conditions used also superficially indicate a reputable company.
One should always find out about the trader and the advisors and check whether the offering of a company like Cash FX Group is regulated by the supervisory authorities . According to warnings from international authorities, many companies do not have a licence for the business they carry out.
Usually, alleged brokers or stockbrokers contact private investors and companies by phone. They try to convince them of particularly profitable financial products and other capital investments. Often the investors are put under psychological pressure to act directly.
This is because the advised deals are only available for a short time.
If one or more of the following points are present, one should examine the investment conscientiously:
- The providers advertise exceptionally lucrative returns.
- The agent receives a high profit share upon conclusion of the contract.
- There is pressure to conclude the deal quickly in order to secure supposed advantages.
- Contact with the employee is only by telephone.
- The business partner is based abroad.
An omen of questionable business could be present if your investment advisor receives a high commission for concluding a deal. Here you should note that the investment advisor has a vested interest in you investing your assets in certain investment transactions. Broker advice is therefore not necessarily objective.
Some employees will therefore try to persuade you to invest in a capital investment that is not optimised to your personal risk preference. The danger is that they will withhold risks from you and present the investment’s return prospects too positively.
What private investors can do if they have difficulties with Cash FX Group
If you have lost money on an investment, you should act immediately. First and foremost, you should refrain from making additional deposits or additional payments. It is also advisable to ask the broker about the reasons for the shortfall and to find out what chances there are of recovering the investment.
Nevertheless, there are some firms that are hardly willing to help in case of difficulties. In such cases, it may be appropriate to involve a lawyer to represent your interests.
Free initial consultation
Private investors who have entrusted their money to Cash FX Group and are facing problems can contact the lawyers at the law firm Herfurtner Rechtsanwaltsgesellschaft mbH to find out about their options without obligation. Click here to contact them.