. Crypto Creative – The provider http://www.crypto-creative.uk/ advertised itself as a provider of financial services. The domain is no longer online at the moment. Profitable capital investments were feasible here. You encounter problems with the payout of your capital investment? Our lawyers can help you with claims against Crypto Creative.

Crypto Creative – FCA considers provider dubious

Currently, there is an extremely high number of online trading platforms such as Crypto Creative. As a result, investing in the unpredictable financial markets has never been as easy but also as risky as it is today. Especially because there are countless opportunities, choosing a broker can be time-consuming and daunting. Especially if it is to suit your personal investment plans.

Have you already invested with Crypto Creative? If so, the following points are relevant for you as an investor.

  • Access to global stock markets is made easier and more interesting for investors through online investing.
  • State-licensed online brokers, secure provider websites, costs and commissions, product options and customer ratings are only selected points that you would have to consider when making your irrevocable choice.
  • In the field of online trading, numerous order types can be used.
  • An optimal address for investors who want to inquire about securities, futures, binary options and cryptocurrencies is a website like this one.

The following information is basic advice for investors – regardless of the platform you invest money in.

Is Crypto Creative authorised by financial regulators?

Both financial markets and investor protection benefit from rules of conduct and organisational responsibilities. Bond service companies and firms like Crypto Creative have to comply with a wide range of regulations. The same applies to their employees. This requirement is intended to circumvent conflicts of interest and the associated disadvantages for investors.

This includes the obligation of the provider to inform its corporate clients about the most important features of the transaction before sealing a share deal. This counts for the respective investor as well as for the value investment itself. In line with this idea, extended information is required for corporate clients who wish to engage in highly speculative or risky transactions. Towards their clients, companies like Crypto Creative have a responsibility.

This goes far beyond making a product or service available. Does the service provider have a licence to distribute financial products? You should definitely check this. For this purpose, you can use the broker check directory of a financial authority and enter the name of the provider in the search function.

Transfers abroad – also required by Crypto Creative?

Does it make sense for you to transfer capital outside Europe? Pay close attention to what you are doing. Quite a few investors have already lost capital in this context. It is possible that you lose track of where your money goes and how it is invested. When capital has been provided to a company, it has happened that the online broker does not invest the transferred amount as agreed or even not at all.

There were also cases where the company simply did not exist, although it was comparable to Crypto Creative. In addition to the regulated financial service providers, there are many dubious online trading platforms where the procedure is almost identical in the majority of cases. New investors are contacted by employees of the respective trading website.

For example, by telephone, after the investor has left non-binding contact information on the service provider’s website. In many cases, however, they are also contacted by mass e-mails. These entice the investor with seemingly lucrative investments. The investor is quickly assigned a personal broker who instructs him on how to set up an online trading account and make the first deposits.

The investor feels well advised for the time being and online trading usually begins with smaller amounts. But soon higher deposits are required – usually to foreign accounts. These transfers are intended to increase the potential profits. Problems with dubious providers ultimately arise as soon as the investor demands a repayment. This is usually postponed further and further or linked to additional payments such as alleged taxes and commissions.

In the past, the perpetrators only operated from unclear locations. Nowadays, they operate from completely different places such as the United Kingdom (including London), the Netherlands, Canada, the Kingdom of Spain, Dubai and others. For many people, it is challenging to spot tricky scams. It is not uncommon for businesses to receive email orders with enormous order volumes that bear no relation to the usual purchase amounts.

In order to lure the German company, enormous promises of profits are used. However, the enormous order volume only serves as a means of pressure in talks with the manufacturer to demand correspondingly high approval and registration costs. It is not always obvious whether the addressee of this payment is also the customer of the goods.

However, it can be assumed that companies operating abroad will not have to pay regional tax on shipments to other countries in the foreseeable future. Find out whether this also applies to investments at Crypto Creative.

Pump & Dump: simply explained

The term pump & dump is used to explain a situation in which the price of a share is unnaturally inflated by insiders. Subsequently, the same share is sold at a loss to the other investors. This is therefore a fraud. A manipulation that profits from the inexperience of small investors and stock market novices. This tactic is therefore illegal in a controlled stock market and for service providers like Crypto Creative.

The crypto market, on the other hand, is still largely “Wild West” in terms of these very tactics. For this reason, extra vigilance is required! Pump-and-dump scams are more common there in connection with the so-called altcoins. The pump-and-dump scam is used by criminals to drive up the price of an unknown or even independently created currency.

They achieve this by spreading disinformation on the World Wide Web or on social media or by luring co-investors with unreasonable profit expectations. So make sure that the provider Crypto Creative provides you with all the information you need on this topic, if applicable.

What is your experience with online platforms

On fraudulent online trading platforms, there exists a plethora of investment goods that are relentlessly advertised on blogs and social media to lure investors. In addition, “multi-level marketing” is used to solicit new money investors. The advertising emphasises above all the assurance of short-term profitability. In order to start investing, a potential buyer must first create an account with the trading platform – such as Crypto Creative.

Then the perpetrators contact the investor via a call centre and do everything they can to convince him to pay large sums of money. The investors’ optimistic 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 dream of. At this stage, investors are deceived by a corrupted trading algorithm about the true evolution of stock market data and prices.

Crypto Creative does not necessarily belong to this category. The masterminds use their own unilaterally determined price values when calculating profits. This means that the trading provider has complete control over whether a profit is made or not. This fraud will continue until the supposed profits are paid. When the moment of distribution arrives, the clients suddenly no longer have access to their accounts and the personal contacts associated with them.

Most investors lose their assets fully invested in this illegal trade, forcing them to seek legal counsel for assistance.

Find out about costs in advance

Before investing with Crypto Creative, find out how much of your investment amount will be used to cover costs such as fees and commissions. This is a useful time to look in detail at the info provided by the service providers! Investors must be made aware of all fees charged and their effect on the return from investment service providers. In addition, the costs must be presented separately.

Assuming that you request a presentation of any costs, the financial service providers are obliged to give you this info. A provider like Crypto Creative is usually interested in as many transactions as possible for understandable motives. Often the costs are so enormous that it is difficult to make a profit. The costs can even devour the invested assets 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 clarity of the cost structure is also stipulated in the official rules and regulations. In connection with a violation, the service provider’s licence can be revoked.

You want to get your capital back from Crypto Creative? Our lawyers can help

In order to be able to assess whether you have a repayment claim against the broker Crypto Creative, an assessment of the individual case is required without exception. This is carried out by the lawyers of the Herfurtner law firm within the framework of a free initial consultation. The basis of this assessment is always the facts of the case as described by you. In addition, similarities can usually be drawn to similarly situated cases.

You therefore benefit from the extensive experience of our lawyers. After the complete evaluation of all documents and the legal classification, the approach is first directed against the provider Crypto Creative itself, should certain breaches of duty be verifiable. In order to be able to prove those breaches of duty, the contract documents, the e-mail message history and possibly also additional papers must be evaluated.

On top of that, regulated online trading providers are equally obliged to make and archive telephone records of conversations with clients. The request to hand over this documentation and the subsequent evaluation is also a sensible and necessary step to enforce your claims. With the help of this evidence, investors’ demands can be enforced both in out-of-court and in court proceedings.

The financial institutions and crypto exchanges that are on the receiving end should also be brought into focus in this context. Since large sums of money are very often involved, the question repeatedly arises as to whether the institutions have fulfilled their duties to provide information and the obligations according to the Money Laundering Act. A universal 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 in many cases is not equivalent to the provider itself. Under certain circumstances, the latter is also to be held liable if breaches of duty can be proven.

After civil law options have been exhausted, the procedure remains at the criminal law level if the initial suspicion of an illegal act is substantiated. This requires contacting investigating authorities at home and abroad and coordinating additional precautions.

In the meantime, many federal states have established special departments for the topics of online fraud and crypto trading. The lawyers of the Herfurtner law firm are in regular contact with these departments. Last but not least, web hosts can also provide useful information on the domain owner. However, contacting the providers, who are often located outside the EU, can be extremely cumbersome for the layperson.

Financial supervisory authorities in Germany and abroad are also useful sources of information for investors who have suffered losses. Apart from the complaint against the respective service provider, which should prevent other possible buyers from investing, other details can possibly be obtained via the financial supervisory authorities as information providers. These details often allow networking of investigative work in the FRG, Austria and Switzerland.