Chartistake – The website https://chartistake.com/ advertises itself as an online broker. On its website, smart investments in securities, CFD, forex, futures, cryptocurrencies and commodities are possible. BaFin – the German financial supervisory authority – has now published a warning about the provider.
According to the warning, the online trading platform lacks the permission to offer its financial services in Germany. Are you encountering difficulties with the payout of your capital investment? Our lawyers can help you with claims against Chartistake.
Chartistake – BaFin investigates provider
Currently, there is an extraordinarily high number of investment service providers such as Chartistake. This means that investing in the unpredictable financial markets has never been as easy but also as risky as it is now.
Especially because there are so many options, choosing an online platform can be time-consuming and challenging. Especially if you want it to meet your particular investment needs. Have you already invested with Chartistake? If so, the following points are relevant 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.
- When trading on the World Wide Web, you can use numerous order types.
- Government licensed brokers on the internet, secure providers, fees and bonuses, product options and feedback from clients are just some of the factors you would need to factor in when making your irrevocable choice.
- Access to international stock exchanges is becoming more convenient and affordable for investors through online investing.
The following information is basic advice for investors – regardless of the platform in which you invest capital.
Invest with Chartistake? Understand all the dangers of online trading beforehand
Just as the stock market and other financial markets are subject to certain dangers, so is online trading. As an investor, you should therefore check Chartistake with regard to the following topics:
- Risks associated with such offers, such as possible losing trades
- Insufficient knowledge of the product
- Service providers who are dubious
- The dangers of online security
Reduce risk by ensuring that you have a proven track record when choosing a financial services provider. In this context, it is also important that you are guaranteed reliable money management. This is the only way you can be reasonably safe in the internet trading arena.
Capital investors who have a deft touch may very well benefit, and their earnings may be high. Provided they have the ideal strategy. One thing everyone who starts trading should be aware of is that the risk of losing more investments when trading on the stock exchange than has been paid into the broker’s Chartistake account exists at all times.
Surprise phone calls from online broker Chartistake?
Have you ever received a call from a stranger offering you a special deal? Never answer. Unsolicited calls are against the law. “Cold calling” is expressly forbidden at investment service providers and similar companies like Chartistake.
There are also groups claiming to work for trusted internet trading platforms. In this way, they want to get people to give them their personal data. Most of the time, you are asked to deposit more capital after your very first deposit. Phone scammers are always coming up with new ways to deprive investors of their savings, cash and other valuables.
A common method used by the crooks 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. Times, in other words, when they are most vulnerable.
In addition, the criminals pretend at the beginning of the conversation that they and the person being called know each other. The other method works as if the callers are obliging.
In this way, the criminals give the person they are talking to on the phone a feeling of sympathy and trust. Check whether you are truly dealing with the Chartistake company when they call you.
Is there investor protection in the grey capital market?
Only a small proportion of financial market participants such as Chartistake are subject to official regulation and control. In the grey capital market, investment service providers position themselves that do not need BaFin approval at all and only have to follow some regulatory conditions.
Only make an investment in the grey capital market if you are sure of the company’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 holds a variety of options. There are:
- Profit participation rights and other hybrid bond forms
- Direct investments such as in timber, precious metals or other commodities
- Crowdfunding offers
- Ordinary bonds
- Participations in companies
- Loans with subordination clauses
One thing is certain: it is unclear what the final outcome will be for the investor. Do you find it difficult to get an overview of what is on offer? In this case, you should find out as much information as you can before making a decision. Don’t buy anything you don’t fully understand!
When it comes to investing, the more knowledge you need, the more complex the financial instrument. It is also not advisable to put all your money on one horse. Spread your risk across chartistake. To avoid being falsely influenced, always focus on the product itself and not the brand name or presentation of the financial service.
Online platforms: Learn to recognise reliable providers
There are a variety of capital goods on fraudulent provider websites, which are persistently advertised in forums and social media to lure capital investors. In addition, “network marketing” is used to solicit new investors. The advertising mainly emphasises the guarantee of short-term profitability.
In order to start investing, a potential buyer must first of all create a user account with the online trading platform – as with Chartistake. Next, the apparent online brokers contact the potential new customer via a call centre and try to persuade him to invest large sums of money.
The investors’ hopeful attitude towards cybertrading is partly reinforced by the idea of future profits. Clients are more willing to invest in the future if they see exactly the kind of results they expect. At this stage, investors are misled by a manipulated trading algorithm about the true trend in stock market data and prices.
Chartistake does not necessarily belong to this category. The backers use their own unilaterally defined price values to calculate profits. As a result, the service provider has complete control over whether a profit is obtained or not. This manipulation will continue until the alleged profits are paid.
When the time comes for payment, the buyers suddenly no longer have access to their accounts and the individual contacts associated with them. The majority of investors lose all their capital invested in such illegal trading, forcing them to seek legal advice.
What is an order commission?
Before investing with Chartistake, find out how much of your investment amount is used to cover costs, fees and commissions. This is a good time to fully check the information provided by the providers! Investors must be made aware of all estimated costs and their impact on the margin of investment service providers.
Furthermore, remuneration must be itemised. As soon as you request a presentation of all costs, the financial service providers are obliged to provide you with this information. For understandable reasons, a service provider such as Chartistake is usually interested in as many trading transactions as possible.
Often the fees are so enormous that it is difficult to make a profit. The costs can even devour the invested capital in a short time. Therefore, be sure to pay attention to the costs! The commission fees of the online broker must be publicly visible.
The transparency of the structure of the costs is also specified in the official regulations and licensing. In case of a violation, the licence of the provider can be revoked.
Get your deposit back from Chartistake? Contact us
In order to be able to assess whether you have a repayment claim against the provider Chartistake, it is necessary to examine your individual case without exception. The lawyers of the Herfurtner law firm will do this for you as part of a free initial consultation. The basis of this analysis is always the facts of the case as described by you.
In addition, parallels to similar cases can often be found. You therefore benefit from the comprehensive experience of our lawyers. After the complete evaluation of all documents and the legal classification, the action is first and foremost directed against the provider Chartistake itself, should certain breaches of duty be verifiable.
In order to be able to confirm such breaches of duty, the contract papers, the e-mail communication and possibly other documents must be examined. Furthermore, regulated online trading providers are equally obliged to make and keep telephone records of conversations with investors.
Demanding the release of these documentations and the subsequent analysis is equally an advisable and indispensable step to enforce your claims.
On the basis of this evidence, clients’ demands can be enforced both in extrajudicial and judicial proceedings under civil law.
The banking institutions and crypto exchanges that are on the receiving end should also be taken into consideration here. Because large sums of money are often involved, the question arises again and again 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 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 financial service provider itself. Under certain criteria, claims can also be made against the financial service provider if breaches of duty can be proven.
After civil law options have been exhausted, there is still the option of proceeding under criminal law if the initial suspicion of a criminal offence is substantiated. In this regard, it is necessary to contact investigating authorities at home and abroad and to coordinate further precautions.
In the meantime, many federal states have set up special departments for fraud offences in connection with online and crypto trading. The lawyers of the Herfurtner law firm are in constant contact with these departments. Last but not least, web hosters can also provide useful information on domain holders.
However, contacting the web hosters, who are often located outside of Germany, is extremely complicated for someone inexperienced. Likewise, financial authorities in Germany and abroad are useful contact points for victims.
In addition to filing a complaint against the respective financial service provider, which should protect even more potential investors from investing, additional information can be obtained from the financial supervisory authorities as sources of information.
This information often allows for a connection of investigative work in the FRG, Austria and Switzerland.