Currentcoins – The online platform https://www.currentcoins.net/ advertises itself as a financial service provider. Ingenious capital investments are possible on its website.
If you have invested with Currentcoins and there are problems with the distribution, the lawyers of the Herfurtner law firm are there to help you.
Currentcoins – Broker at a glance
Currently, there is an enormous number of investment service providers such as Currentcoins. Thus, it has never been as easy but also risky as today to invest in the unpredictable financial markets.
Precisely because there are so many options, choosing a broker can be time-consuming and daunting. Especially if it is supposed to correspond to your respective investment wishes.
Have you already invested with Currentcoins? Then the following aspects are relevant for you as an investor.
- A very good address for investors who want to inform themselves about securities, futures, options and cryptocurrencies is a website like this one.
- Officially licensed brokers on the internet, reputable providers, fees and brokerage commissions, product options and ratings are just exemplary factors that you would have to plan for when making your final decision.
- When trading on the internet, you can use a large amount of order types.
The following tips are general advice for investors – regardless of the platform you invest money in.
Online trading with Currentcoins or other service providers: Disadvantages?
Just as the stock exchange and other financial markets are exposed to corresponding risks, online trading is equally vulnerable.
As an investor, you should therefore examine Currentcoins with regard to the following topics:
- The risks and dangers of online security
- Insufficient knowledge of the offer
- Risks arising from incorrect or incompetent trading
- Disadvantages associated with the product, such as potential losses
Minimise the risk by looking at a proven track record when choosing a provider. In this context, it is equally important that you are guaranteed reliable money management. Only then will you be able to navigate the internet trading arena with some degree of confidence.
Traders who have a deft touch may well benefit from this, and their earnings are potentially high.
In the event they have the perfect tactics. One thing should be clear to anyone starting out in trading: The threat of losing more investment than was deposited into the Currentcoins provider’s account when trading on the stock exchange exists at all times.
Does Currentcoins – have bank accounts located abroad? Always act carefully when making bank transfers
Does it make sense for you to transfer capital to a country outside Europe? Consider carefully what you are doing. Countless investors have already lost money in this context. You may lose track of where your money is going and how it is invested.
When capital has been made available to a provider, it has often happened that the online broker does not invest the transferred amount of money as agreed or even not at all. There have also been cases where the company simply did not exist, although it presented itself accordingly like Currentcoins.
In addition to the licensed service providers, there are numerous dubious online trading platforms where a very similar procedure can be observed in most cases. New investors are contacted by employees of the respective trading platform. For example, by telephone, as soon as the customer has left non-binding contact information on the trading website.
In countless cases, however, they are also contacted by mass e-mails. These advertise supposedly profitable investments.
In the short term, the investor is provided with a personal online broker who instructs him or her on how to set up an online trading account and make initial investments. The investor first feels well advised and trading usually begins with smaller amounts.
But soon higher transfers are requested – very often to accounts abroad. Such transfers are intended to increase the possible profits.
Obstacles with dubious providers ultimately arise as soon as the investor wants a distribution of profits. This is repeatedly delayed or linked to additional payments such as alleged taxes and brokerage commissions.
Previously, the criminals operated exclusively from unclear locations. Currently, they operate from a wide variety of locations, including the UK (including London), the Netherlands, Canada, Spain, Dubai and others.
For the vast majority of people, it is challenging to identify tricky methods. Companies often receive email orders with huge order volumes that are disproportionate to the typical purchase amounts. Enormous promises of profits are used to lure the German company.
However, the substantial order volume functions solely as leverage in talks with the factory owner to demand correspondingly excessive approval and registration costs.
It is not always clear whether the addressee of this payment is also the customer of the products. However, it can be assumed that suppliers who are active abroad will not have to pay regional taxes on shipments to other countries in the near future. Check whether this also applies to investments with Currentcoins.
Recognise pump and dump and protect yourself
The term pump and dump is used to explain a situation in which the value of a share is artificially inflated by insiders. Subsequently, the same share is sold at a loss to the remaining investors.
Accordingly, this is a fraud. A deception that profits from the ignorance of small investors and stock market novices.
This tactic is therefore forbidden in a controlled securities market and for companies like Currentcoins. The crypto market, however, is still largely “Wild West” when it comes to such tactics. For this reason, special attention is required!
Pump-and-dump scams are often found there in the context of the so-called altcoins. The pump-and-dump scam is used by criminals to inflate the value of an unknown or possibly self-created currency. They achieve this by propagating false information on the web or on social media or by luring co-investors with unreasonable profit expectations.
So make sure that the provider Currentcoins provides you with all the necessary facts on this very topic, if applicable.
What is your experience with online trading platforms?
On dubious internet platforms, there are a variety of investment goods that are penetratingly advertised in forums and social media in order to convince investors.
In addition, “multi-level marketing” is used to attract new investors. In the advertising, the promise of immediate profitability is emphasised above all.
In order to start investing, a potential investor must first create an account with the online trading platform – as is the case with Currentcoins. After that, the perpetrators contact the potential new customer via a call centre and try to convince him to invest large sums of money.
The capital investors’ positive attitude 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 dream of. At this point, money investors are being hoodwinked by a corrupted trading algorithm about the true trend in stock market data and prices. Currentcoins does not necessarily fall into this category.
The backers use their own unilaterally determined price values when calculating returns. As a result, the service provider has all the control over whether a profit is made or not.
This manipulation will continue until the supposed profits are paid. When the moment of distribution arrives, the buyers surprisingly no longer have access to their accounts and the direct contacts associated with them. The majority of investors lose their money fully invested in such illegal trading, forcing them to seek legal advice.
Beware of contracts that leave no exit options
Clarify when and how much money you will get back. Ideally, avoid long-term contracts that cannot be terminated early or where you would suffer huge monetary losses.
Only conclude long-term contracts without the possibility of early termination with providers such as Currentcoins, whose reliability you have no doubts about.
Even if you have the chance to renounce a contract at any time or to terminate it over an agreed period of time, you should be sceptical. Even if you have this protection, you still remain vulnerable to financial loss. Make sure you know exactly how much money you will get back if the money deal goes wrong.
For share transactions, the following provision counts:
Before the end of the term, find out what options you have to get rid of a share.
Most of the time, it is crucial to find out if there is a liquid market for products such as those offered by Currentcoins.
It is possible to sell share certificates via an online broker or a financial institution. All three methods are legitimate for placing a sell order. The actual selling process is therefore carried out via an exchange (e.g. Berlin, Stuttgart, Frankfurt, Tradegate or Xetra) (e.g. for penny stocks).
With order supplements, the execution of the order can be guided from the outset. The shares will be sold at a time and place determined by you.
Get your deposit back from Currentcoins? Contact our law firm
As soon as the suspicion is confirmed that an online trading provider is not acting properly and the risk exists that the broker refuses to refund your deposit, precautions must be taken as quickly as possible. In addition to a criminal complaint, which we file for our clients with the police authority, and a report to the financial supervisory authority, the provider should also be held legally accountable if necessary.
This involves examining the contractual claims against the financial service provider as well as any chances of compensation.
In the case of financial transactions, it is also essential to check whether financial institutions can be held liable in the event of an error. Claims for compensation against banking institutions may arise, for example, in the case of money laundering or other illegal activities. However, this must be examined on a case-by-case basis.
If your online broker delays the payout, you should contact a competent law firm immediately:
- Describe your case to our law firm by e-mail
- Let us know how long the provider has not paid you
- Give us the names and contact details of all the people you have been in contact with
The Herfurtner law firm will give you a free initial assessment in connection with Currentcoins. We will also let you know as soon as possible whether we think you have a real chance of recovering your losses.