Coinpax – According to information on the homepage of the provider https://coinpax.org/, the online broker is a service provider for online trading that offers its customers various services. Accordingly, Coinpax takes care of cryptocurrency trading.
You encounter complications with the distribution of your investment? Our lawyers can help you with claims against Coinpax.
Coinpax – Experiences of investors
Currently, there is an enormously high number of providers such as Coinpax. As a result, it has never been as easy but also risky as it is today to invest in the volatile financial markets.
Especially because there are numerous options, choosing an online broker can be time-consuming and challenging. Especially if it is to meet your individual investment needs.
Have you already invested with Coinpax? In this case, the following points are important for you as an investor.
- Officially regulated brokers on the internet, reputable providers, fees and commissions, offer options and customer reviews are just some of the points you need to plan for when making your final choice.
- An ideal place for investors to start learning about securities, futures, binary options and cryptocurrencies is a website like this one.
- When trading on the World Wide Web, you can choose from a wide range of order types.
The following are basic suggestions for investors – regardless of the platform you invest in.
Checklist Coinpax: Check online trading platforms in advance
The following list serves to protect you from online brokers with dubious intentions.
- Is a company like Coinpax listed in the company database of the responsible EU supervisory authority?
- Identity theft is a problem: Please do not hand over a copy of your identity card. Criminals often ask you to do this.
- In which city is the company’s official headquarters?
- Is the trading provider Coinpax a company licensed by BaFin or in another country of the European Union?
- Do not use any remote maintenance software that gains access to your end devices.
- Find out as much as you can about the company and the product you want to buy (Google, blog entries, online card services).
- Ask yourself: What is the name of the contact person you want me to get in touch with?
Does Coinpax require short-term decisions on investments?
Do you notice the pressure of a tight deadline? Is the online broker tempting you with a special offer, but you are under pressure to make a decision quickly?
This is certainly not a good idea, because it is often a feint. Do not rush into anything! Not only can you receive serious offers now, but you can also invest money with Coinpax in the future.
To achieve their goal, scammers know in detail what they have to do. They go out of their way to obtain as much information as they can about their targeted person through well-crafted questions. On top of that, they ask about the other person’s circumstances, e.g. if they are home alone or if they have cash at home.
In addition, they use a “wait and see” method to drive the person to despair. You can keep your counterpart on the phone forever until he or she agrees to go to the credit institution and hand over money and other valuables to the fraudsters.
In one of these scams, the victim is put under time pressure. With this very measure, the injured party is encouraged to disregard his own caution.
New support scams use the same method. Since the computer of the person contacted is presumably infected by an extremely serious malware programme, the callers, who are presumably acting at the behest of Microsoft or a provider such as Coinpax, demand urgent payment of a maintenance contract in English with an Indian accent.
The swindlers are ramping up the pressure, threatening to make the targeted individuals pay if their computer is infected and transmits the infections.
To what extent are consumers protected in the grey capital market?
Only a small proportion of financial market participants such as Coinpax are subject to official regulation and control. In the grey capital market, providers position themselves that do not need BaFin approval and do not have to comply with anything more than a few regulatory requirements.
Only invest in the grey capital market if you are convinced of the provider’s solvency and it is known to you as a company. As already mentioned, the Federal Financial Supervisory Authority has no control over these service providers.
The grey capital market holds a variety of options. There are:
- Corporate investments
- Loans with subordination clauses
- Ordinary bonds
- Crowdfunding offers
- Profit participation rights and other hybrid bond forms
One thing is certain: it is uncertain what the end result will be for the investor.
Do you find it difficult to see through the advertised offer? If so, you should find out as much information as you can before making a decision.
Don’t invest in anything you don’t fully understand! When it comes to financial transactions, the more know-how you need, the more sophisticated the product.
It is also not advisable to concentrate all your assets on one product. Diversify your risk beyond Coinpax.
To avoid being influenced incorrectly, it is recommended to always focus on the product itself rather than the brand name or reputation of the financial service.
Reliable brokers will comply with your request for repayment
Investors are often wooed by an “online broker” or call centre employee the moment they sign up to the supposed online trading platform. The intention is to encourage the investor to increase their long-term investment in order to maximise profit. This is also a legitimate goal of the service provider Coinpax.
Immediately after the investor has transferred his capital, the first profit developments will probably be presented to his user account. This should encourage the investor to invest steadily in the financial product.
The operators of the trading platform, in turn, can simulate manipulated account changes and profits by means of fraud software without the consumer noticing anything.
Make sure that the accounts can be authenticated equally at Coinpax.
In practice, no trading at all takes place on various online trading platforms. Instead, the assets paid are transferred by the fraudsters to accounts outside Germany’s borders. This is not registered by the investors at first.
The “providers” put the payout on the back burner of the presented income by demanding that the investors pay allegedly incurred taxes and processing costs. These scams only serve the purpose of increasing profits.
At a certain point, communication breaks down completely. The money invested is used up. From this point on, the only way to take further steps is to go to a lawyer.
What commissions can be due for online trading?
Before investing with Coinpax, find out how much of your investment amount will be used to cover costs, fees and commissions. This is a good time to take a thorough look at the info provided by the providers!
Investors need to be informed about all calculated fees and their impact on the profit margin of financial service providers. In addition, the remunerations must be listed individually.
If you ask for a detailed overview of any fees, financial service providers are obliged to provide you with this information.
For obvious reasons, an online broker like Coinpax is usually interested in as many trading transactions as possible. Most of the time, the fees are so enormous that it is difficult to make a profit. The fees can even eat up the invested capital in a short time.
Therefore, be sure to pay attention to the costs! The trading fees of the online broker must be publicly available. The transparency of the structure of the costs is also stipulated in the applicable rules and regulations.
In the event of a violation, the provider’s licence can be revoked.
Recovering funds from Coinpax: Here’s what matters now
Investors who have suffered losses with a service provider such as Coinpax, or who are having problems withdrawing their money, should first and foremost avoid making additional deposits. Furthermore, it is highly advisable to seek legal advice on all options for recovering your money.
It is important:
- do not bury your head in the sand
- react quickly
- seek legal support
Do you have questions about Coinpax? Then our lawyers are at your disposal.
Feel free to contact us. You can access our contact area here to exchange information on the topic of Coinpax.