ChaseFXTrade – The supposed financial service provider ChaseFXTrade presents itself on its own homepage as an online broker for Forex Trading and CFD Trading. The Zurich Cybercrimepolice published a warning against the provider, as it was reported for suspected fraud.

You have invested with ChaseFXTrade and would like your capital back? The Herfurtner law firm can help you with any problems.

ChaseFXTrade – what should investors pay attention to?

Currently, there is an extremely high number of investment service providers such as ChaseFXTrade. Thus, it has never been as easy but also risky as today to invest in the volatile financial markets.

Especially because there are many options, choosing a financial service provider can be time-consuming and intimidating. Especially if it is to meet your particular investment needs. Have you already invested with ChaseFXTrade? Then the points below are relevant to you as an investor.

  • Regulated online brokers, trustworthy provider websites, costs and commissions, offer options and customer reviews are just exemplary points to consider when making your irrevocable decision.
  • A suitable place to start for investors who want to find out about securities, futures, binary options and cryptocurrencies is a homepage like this one.
  • Entry to the international stock markets becomes more convenient and versatile for money investors through online investments.

The following statements are general recommendations for investors – regardless of the platform you invest in.

What risks and dangers can there be in online trading with service providers such as ChaseFXTrade?

Just as the stock exchange and other financial markets are exposed to corresponding risks, so is online trading. As an investor, you should therefore examine ChaseFXTrade with regard to the following topics:

  • Providers who are dubious
  • Threats associated with such offers, such as potential losses
  • Threats arising from inaccurate or unqualified trading
  • Insufficient knowledge of the offer
  • The dangers of online security

Reduce risk by looking for a proven track record when choosing a financial services provider. In this context, it is equally important that you are assured of secure money management. Only then will you be able to navigate the internet trading arena with some degree of confidence.

Money investors who have a skillful hand can definitely make a living from this, and their profits may be high. As far as they have the best approach.

One thing should be clear to anyone starting out in trading: The risk of losing more investments when trading on the stock exchange than was deposited into the ChaseFXTrade broker’s bank account always exists.

Evaluate unrealistic profit margins and confidently rank online platforms like ChaseFXTrade

Check how confidence-inspiring ChaseFXTrade’s offer is. Is the interest rate you have been offered particularly high? Can you get a lot of money with a few EUR? For the most part, these offers are nothing more than misleading. Be sure that criminals are always hiding behind these tempting offers.

As a rule, not the least is invested in these investment offers. Check accordingly how honest the offer from ChaseFXTrade is. Frauds are often realised by tricksters in a similar way. Online, investment products are advertised in a prominent position, which are blandly profitable.

The criminals assure that they will receive a lot of wealth. At the beginning, the investment amounts are reasonably small. Those who sign up are consulted by a fictitious online broker or trader. The scam victims then get access to a supposed investment software after paying the money.

Dubious offers can also be identified by promises of returns that are noticeably above the market average. The risk of an investor losing capital also increases in direct proportion to the expected return with ChaseFXTrade.

One way to find out about normal market returns is to read the business sections of the daily newspapers or the WWW page of the Deutsche Bundesbank. In the same way, you should treat tips for companies with exceptional potential for growth with caution.

Low prices and low trading volumes make penny stocks, for example, extremely susceptible to speculation and manipulation.

Grey capital market definition

Only a small proportion of financial market participants such as ChaseFXTrade are subject to official regulation and control. In the grey capital market, investment service providers are positioned that do not even need approval from the Federal Financial Supervisory Authority and only have to comply with a few regulatory provisions.

Only make an investment in the grey capital market if you are convinced of the company’s liquidity and it is known to you as a company. As I said, BaFin has no control over these service providers. The grey capital market offers a wealth of options.

There are:

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

One thing is certain: it is uncertain how it will ultimately turn out for the investor. Is it difficult for you to understand the offer? If so, you should find out as much information as possible before making a choice. Don’t buy anything you don’t fully understand!

When it comes to investments, the more know-how you need, the more complex the financial instrument. It is also not advisable to bet your entire fortune on one horse.

Spread your risk beyond ChaseFXTrade. In order not to be influenced inappropriately, it is recommended to always focus on the product itself and not on the brand name or the presentation of the financial service.

What are your experiences with online platforms?

A variety of capital goods exist on dubious online trading platforms, which are aggressively advertised in forums and social media to lure 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 an account with the online trading platform – such as ChaseFXTrade. The perpetrators then contact the potential new customer via a call centre and try to persuade him to invest large sums of money.

The positive attitude of investors towards cybertrading is partly strengthened by the desire for future profits. Buyers are more willing to invest in the future if they see exactly the kind of results they want. At this point, investors are deceived by a corrupted trading algorithm as to the true trend of stock market data and prices.

ChaseFXTrade does not necessarily fall into this category. The backers use their own unilaterally determined price values to calculate profits. This means that the provider has complete control over whether a profit is made or not. The scam continues until the supposed profits are paid.

When the time comes to pay out, the buyers suddenly no longer have access to their accounts and the personal contacts associated with them. Most investors lose all their money invested in such illegal trading, so they are forced to ask a lawyer for help.

Non-transparent exit options

Check when and how much money is paid back. It is best to avoid longer-term contracts that cannot be terminated early or where you would experience immense monetary losses. Only enter into long-term contracts without early termination options with providers such as ChaseFXTrade, whose reliability you have no doubts about.

Even if you have the option to waive a contract at any time or to terminate it over an appropriate period of time, you should be critical. Even if these points are met, you are still vulnerable to monetary losses. Make sure you know exactly how much capital you will get back if the investment goes wrong.

The following rule applies to securities transactions: Before the end of the contract period, find out what options you have to get rid of a share certificate. It is often important to find out whether there is a liquid market for offers such as those made by ChaseFXTrade.

It is possible to sell shares through a broker or a financial institution. All 3 options are approved for placing a sell order. The actual selling process is then carried out via an exchange (e.g. Berlin, Stuttgart, Frankfurt, Tradegate or Xetra) (e.g. for penny stocks).

Order supplements can be used to control the execution of the order from the outset. The sale of the share certificates takes place at a date and place determined by you.

Investment redemption at ChaseFXTrade: improve your prospects

In order to assess whether you have a repayment claim against the financial services provider ChaseFXTrade, it is always necessary to review your case in particular. The lawyers of the Herfurtner law firm will do this for you in the context of a free initial consultation.

The starting point for this evaluation is always the facts of your case. In addition, similarities to comparable 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 action is first directed against the provider ChaseFXTrade itself, if certain breaches of duty can be proven. In order to be able to confirm such breaches of duty, the contract papers, the e-mail correspondence and, if necessary, other documents should be analysed.

Furthermore, regulated online trading providers are also obliged to make and archive telephone records of conversations with investors. The demand for the handing over of these records and the subsequent verification is also a sensible and indispensable step in the enforcement of your claims.

With the help of this evidence, investors’ claims can be enforced both in extrajudicial and in judicial proceedings. The banks and crypto exchanges that are on the receiving end should also be focused on here.

Because the sums of money involved are often considerable, the question repeatedly arises as to whether the institutions have complied with their duties to provide information and their obligations under the Money Laundering Act.

A universal statement cannot be made here; rather, the individual case must be examined. The same applies to the beneficiary on the recipient side, who is usually not equivalent to the financial service provider itself. Under certain conditions, the financial service provider must also be held liable if breaches of duty can be proven.

After exhausting the options under civil law, there is still the possibility of proceeding under criminal law if the initial suspicion of an illegal act is substantiated. In this regard, it is necessary to contact investigating authorities at home and abroad and to coordinate further steps.

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

However, contacting the web hosts, which are often located outside the EU, is extremely cumbersome for someone inexperienced. Financial authorities at home and abroad are also useful sources of information for investors who have suffered losses.

Apart from the complaint against the online trading provider in question, which is intended to protect further potential investors from investments, it may be possible to obtain further details through the financial authorities as providers of information.

In many cases, this information allows for the networking of investigations in Germany, Austria and Switzerland.