CryptoFirmX – the company described itself on its own website http://cryptofirmx.com/ as an online broker. CryptoFirmX had offered its clients various services. The provider’s website is currently no longer accessible.

You encounter complications with the distribution of your investment? Our lawyers can help you with claims against CryptoFirmX.

CryptoFirmX – Broker overview

Currently, there are an enormous number of online trading platforms such as CryptoFirmX. This means that investing in the volatile financial markets has never been as easy but also as uncertain as it is now.

Precisely because there are a large number of options, choosing a financial service provider can be time-consuming and frustrating. Especially if it has to meet your individual investment requirements.

Have you already invested with CryptoFirmX? Then the following aspects are relevant for you as an investor.

  • State-regulated online brokers, secure websites, costs and brokerage commissions, product options and customer reviews are just some of the aspects you would need to include in your final choice.
  • When trading on the web, you can use a large number of order types.
  • A very good address for money investors who want to inquire about share certificates, futures, options and cryptocurrencies is a website like this one.

The following are basic tips for investors – regardless of the platform you invest in.

Evaluating providers like CryptoFirmX correctly

Investors have a wide range of investment options to choose from, with professional and questionable service providers competing for their attention.

There are many clues that a service or even an offer is not safe, and it is important to keep an eye out. Here’s what to look out for in case you’re investing your hard-earned money.

Banking, financial services and insurance companies such as CryptoFirmX are allowed to operate in the FRG solely with state authorisation. The companies have received authorisation, but this in no way means that the products sold are of good quality.

In the event that a prospectus or information sheet approved by the Federal Financial Supervisory Authority has been published in advance, derivatives and investments can also be made available to the general public.

The Federal Financial Supervisory Authority simply ensures that prospectuses are complete, comprehensible and logical. The prospectus or the information sheet of CryptoFirmX is by no means required in every case.

Before investing money, it is advisable to think about your sustainable goals and assess whether you have the monetary means to achieve them. Do not rush the process. Before putting your money into an investment, take time to weigh the pros and cons. Do not make a choice immediately, even if you have consulted with others.

Exclusive development potential or enormously high profit margins at CryptoFirmX?

Assess how trustworthy the offer from CryptoFirmX is. Is the interest rate you were offered exceptionally high? Can you earn a large amount of money with a few €?

These offers are predominantly nothing more than an illusion. Be aware that very often criminals are hiding behind these tempting opportunities. As a rule, nothing is invested in these investment offers. Therefore, assess how trustworthy the offer from CryptoFirmX is.

Scams are usually carried out by con artists in a comparable way. Online, financial products are announced in a prominent position, which are supposed to be profitable. The perpetrators assure that they will earn a lot of money. At the beginning, the investment amounts are relatively minimal.

All those who sign up are contacted by a fictitious stockbroker or securities trader. The victims of the scam then get access to a supposed investment software after depositing the money.

Dubious special offers can also be seen in promises of returns that are obviously above the market average.

The risk of an investor losing assets also increases with CryptoFirmX in direct proportion to the expected return. One way to find out about the median market return is to read the business sections of newspapers or the website of the Deutsche Bundesbank.

Similarly, you should treat tips for companies with exceptional potential for growth with caution. Low prices and minimal trading volumes make penny stocks, for example, particularly susceptible to speculation and manipulation.

Trustworthy brokers always act in your best interests

Placing orders for transactions in securities without the account holder’s consent can, in individual cases, lead to a jump in the price of particular stocks.

This applies in particular to open market transactions in illiquid foreign shares (over-the-counter market). You should therefore remain cautious if you are asked to disclose sensitive data about the investment with CryptoFirmX without your consent with reference to supposedly lucrative transactions or profit announcements.

Under no circumstances should you provide your IBAN, BIC and other bank codes to anyone you do not know. Likewise, you should not disclose your account or deposit numbers or passwords.

Do not hand over custody account documents or securities statements from CryptoFirmX to someone you do not know. Callers posing as financial advisors, online brokers or employees of a financial regulator are also dangerous.

How to distinguish reliable from dubious providers

On dubious provider websites, there is a variety of investment goods which are persistently advertised in internet forums and social media to convince investors.

In addition, “multi-level marketing” is used to solicit new investors. The advertising primarily emphasises the assurance of immediate profitability.

In order to start investing, an interested investor must first create an account with the trading platform – such as CryptoFirmX. Next, the perpetrators contact the investor via a call centre and try to convince him to pay large sums of money.

The investors’ positive attitude towards cybertrading is partly reinforced by the idea of future profits.

Buyers are more willing to invest in the future if they see exactly the kind of results they hope for. At this stage, investors are fooled by a corrupted trading algorithm about the true evolution of stock market data and prices. CryptoFirmX does not necessarily fall into this category.

The backers use their own unilaterally determined price values when calculating returns. As a result, the trading provider has complete control over whether a profit is made or not.

Until the supposed returns are paid out, this fraud will continue. If the investor demands the payout, the buyers unexpectedly no longer have access to their accounts and the individual client advisors associated with them. The vast majority of investors lose all their assets invested in this illegal trade, forcing them to call in a lawyer.

Lost investments & received unsolicited offer of help shortly afterwards?

Anyone who has ever lost assets to a fraudulent investment platform knows how fatal that can be. That alone is bad enough. But in addition, the fraudsters behind the bogus entity contact you within a short time by email or phone call.

This time, however, they do not pretend to be financial advisors from CryptoFirmX. Instead, they guarantee to help recover the lost capital for a fee. Many criminals even seem to have been hired or commissioned by trustworthy companies such as a financial authority.

After stealing your personal information, the rip-off artists usually pose as good Samaritans. They promise to assist you in recovering the stolen money. Even if you have invested money with a provider like CryptoFirmX, your data may be stolen.

Anyone who has lost a considerable amount of money is usually desperate. The criminals take advantage of people’s worry by calling themselves money recovery firms. They offer their services under the guise of helping them get their money back. That is, they make dubious assurances that they will recover the lost money.

Money back from CryptoFirmX: Maximise prospects of success with the help of lawyers

You have invested capital with CryptoFirmX, or a similar service provider? Now there are difficulties with the repayment?

Then we recommend that you immediately block additional payments. This is especially true if the trader recommends additional payments to compensate for deficits.

In addition, you should try to recover the lost capital. In this context, aggrieved parties can seek investor protection and turn to the lawyers of our law firm. We examine civil law as well as criminal law options and possible claims for damages against the company and against involved payment service providers such as financial institutions.

“A private investor who loses money in the course of online trading is by no means an isolated case. Numerous investors are deceived by the professional appearance of the financial providers and do not realise soon enough that they are not responsible for their losses

Our advice is therefore not to bury your head in the sand, but to react promptly and actively. Because the chance of recovering the lost capital is often greater than the aggrieved investors think.

Would you like to talk to one of our lawyers about CryptoFirmX? Then you can go straight to our contact page here.