Estoken – The website https://www.estoken.tech/pc/home advertises itself as a trading platform. On its platform, smart investments in the field of cryptocurrencies are possible.
If you have invested with the financial service provider Estoken and now have problems with repayment, our lawyers can help you nationwide.
Estoken – Online Broker with serious intentions?
Currently, there is an extraordinarily high number of online trading platforms such as Estoken. As a result, it has never been as easy but also risky as it is today to invest in the volatile financial markets.
Precisely because there are many opportunities, choosing a broker can be time-consuming and daunting. Especially if it is to suit your individual investment needs.
Have you already invested with Estoken? In this case, the following aspects are important for you as an investor.
- When trading on the internet, you can choose from a large number of order types.
- Access to the global stock markets becomes easier and more lucrative for investors through online investments.
- Officially licensed online brokers, secure providers, costs and brokerage fees, offering options and customer reviews are only selected aspects that you need to consider when making your final decision.
The following are basic tips for investors – regardless of the platform you invest in.
Estoken: Ways to rate an online broker
Investors have a wide variety of investment opportunities to choose from, with professional and questionable financial services providers vying for their favour.
There are many indications that a financial service and offering is not reputable, and it is important to focus on this. Here’s what to look for when investing your hard-earned money.
Banking, financial services and insurance companies such as Estoken are only allowed to operate in the Federal Republic of Germany with state authorisation. Although the providers have received a licence, this in no way means that the products sold are of excellent quality.
In the event that a prospectus or information sheet approved by BaFin has been published in advance, securities and investments can also be made available to the general public.
The Federal Financial Supervisory Authority merely ensures that the prospectuses are complete, plausible and coherent. The prospectus or information sheet of Estoken is by no means necessary in every circumstance.
Before investing capital, you should consider your ongoing expectations and whether you have the actual means to achieve them. Do not rush the process. Before putting your capital into an investment, take time to look at the pros and cons. Do not make a choice on the spot, even if you have consulted with others.
Beware – if Estoken is working with tight deadlines
Feeling the pressure of a tight deadline? The online broker is baiting you with a special offer, but you are under pressure to make a choice quickly?
This is certainly not an excellent idea, because it is often a ruse. Don’t be in a hurry! Not only can you get serious offers now, but you can also invest with Estoken in the future.
To achieve their goal, rip-off artists know in detail what they have to do. They make an effort to get as much information as they can about their targeted person through well-crafted requests. In addition, they ask about the constitution of the interlocutor, e.g. whether he is home alone or whether he has capital at home.
On top of that, they use a tactic of “wait and see” to exhaust the person. They can keep their counterpart on the phone for a very long time until he or she agrees to go to the credit institution and hand over cash and other valuables to the fraudsters.
In one such scam, a deadline pressure is imposed on the injured party. With such a tactic, the aggrieved person is urged to ignore his or her own caution.
Topical support scams use the same method. Since the contacted person’s PC is allegedly attacked by a particularly extreme computer virus, the callers, presumably working on behalf of Microsoft or such a financial service provider as Estoken, demand urgent repayment of a maintenance contract in English with an Indian accent.
The scammers add to the stress by threatening the targeted individuals to make them pay if their PC is infected and transmits the infections.
The great danger of unauthorised orders
Placing orders for securities transactions without the account holder’s consent can, in individual cases, cause the price of particular shares to jump.
This applies above all to open market transactions in illiquid foreign securities (over-the-counter market). Therefore, be sceptical if you are instructed to disclose personal data about the investment at Estoken completely without your consent with reference to apparently profitable transactions or profit announcements.
You should never give your International Bank Account Number, Business Identifier Code and other bank codes to someone you do not know. Nor should you disclose your account or deposit numbers and passwords.
Do not hand over custody account documents or securities statements from Estoken to a third party who is a stranger to you. Callers posing as investment advisors, brokers or employees of a financial regulator are also unpredictable.
Online broker refuses to distribute? Act promptly and contact legal counsel
Investors are often solicited by an “online broker” or a call centre employee the moment they have set up an account on the alleged trading platform. The intention is to get the investor to increase his permanent investments in order to maximise profit. This is also a legitimate goal of the service provider Estoken.
Shortly after the customer has transferred his money, the first profit developments will probably be shown on his account. This should encourage the investor to continuously invest in the financial instrument.
The operators of the trading platform, on the other hand, can use fraud software to simulate manipulated account changes and profits, even without the client noticing.
Make sure that the accounts can also be verified with Estoken.
In reality, no trading takes place at all on various platforms. Rather, the deposited assets are transferred by the fraudsters to bank accounts abroad. This is not noticed by the investors at first.
The “service providers” delay the disbursement of the presented monetary gains by demanding payment of allegedly incurred taxes and processing costs from the investors. The deceptive manoeuvres only serve the purpose of increasing the profits.
Sooner or later, communication breaks down completely. The money transferred is used up. From that moment on, the only thing left to do is to go to a lawyer to start necessary measures.
What fees can arise from online trading?
Before investing with Estoken, 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 check the details provided by the providers in detail!
Investors must be notified of all costs included and their impact on the margin of investment service providers. In addition, remuneration must be listed separately.
In the event that you request a presentation of the individual costs, the financial service providers are obliged to provide you with this information.
For understandable reasons, a provider like Estoken is usually interested in as many trading transactions as possible. Often the fees are so high that it is difficult to make a profit. The costs can even eat up the invested money in a very short time.
Therefore, be sure to pay attention to the costs! The trading fees of the online broker must be visible to everyone. The clarity of the structure of the costs is also set in the legal regulations and licensing.
If there is a violation, the service provider’s licence can be revoked.
Repayment of Estoken does not work? Hire a law firm immediately
It is advisable to take precautions as soon as possible if the suspicion is confirmed that an online trading provider is not acting conscientiously and there is a risk that the broker will not pay out. In addition to a report, which we file for our clients with the criminal police, and a report to the financial authorities, the broker should possibly also be held legally responsible.
In this context, the claims against the operator of the trading platform agreed in the contract as well as possible compensation possibilities are examined.
In the case of financial transactions, it is also relevant to check whether financial institutions can be held liable in the event of an error. Claims for damages against banking institutions may exist, for example, in the case of money laundering or other illegal acts. However, this must be examined depending on the facts of each case.
As soon as your broker delays the payout, you should immediately contact a competent law firm:
- Send us an e-mail describing your experience with the provider
- Tell us how long the broker has been delaying the payout
- Give us the names and contact details of anyone you have communicated with
Our lawyers will give you a free initial assessment in relation to Estoken. We will also let you know in a timely manner whether we think you have a realistic chance of recovering your losses.