Expochains – The provider claims to be a financial service provider on its website https://www.expochains.com/de/, which is active in the areas of shares, commodities, energies, cryptocurrencies and indices. Accordingly, investors can expect high profits. If you have invested capital with the broker Expochains and are now experiencing difficulties with repatriation, our lawyers can advise you throughout the German-speaking region.
Expochains – Assessments by investors
Currently, there is an extremely high number of online trading platforms such as Expochains. Thus, investing in the unpredictable financial markets has never been as easy but also as risky as it is today. Especially because there are a large number of opportunities, choosing an online platform can be time-consuming and challenging. Especially if you want it to meet your personal investment requirements.
Are you considering investing with Expochains? In this case, the following aspects are important for you as an investor.
- State-regulated brokers on the internet, trustworthy provider sites, fees and commissions, product options and customer feedbacks are just selected features you would have to consider when making your irrevocable decision.
- A good address for money investors who want to enquire about securities, futures, options and cryptocurrencies is a website like this one.
- Accessing international exchanges is becoming more convenient and affordable for money investors through online investing.
- When trading on the World Wide Web, one can use quite a few order types.
The following information is basic advice for investors – regardless of the platform you invest in.
Assessing service providers like Expochains correctly
Investors have a wide range of investment opportunities to choose from, with reputable and questionable service providers competing for their attention. There are many clues that a financial service or even a product is not safe, and it is essential to keep an eye out for this. Here you can find out what details to look out for when investing your hard-earned capital.
Banking, financial services and insurance companies such as Expochains are only allowed to operate in the Federal Republic of Germany with government authorisation. The companies have obtained authorisation, but this in no way means that the services they offer are of good quality.
In the event that a prospectus or information sheet approved by the Federal Financial Supervisory Authority has already been published, share certificates and investments may 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 information sheet of Expochains is by no means necessary in every case.
Before investing, you should think about your long-term expectations and assess whether you have the financial means to achieve them. Do not rush the process. Before you invest your assets in a capital investment, you should take time to look at the pros and cons. Do not make a choice immediately, even if you have consulted with others.
Trial investments as a lure also possible with Expochains?
Does Expochains tempt you to try out investments with a smaller amount? You cannot find any data about the company because it is supposedly a new company with interesting business ideas? The possibility is high that the investment tip is a deception. After a very short time, the investment service provider will tell you that your investment was a huge success and ask you to increase your investment.
The success of your trial investment may tempt you to make more investments. Here are some examples of dubious investment tips:
- “5-star stock with a dividend of 47.88 per cent”
- “With just 5 minutes of your time, you can become a billionaire”
- “Earn 3500.00 € per month with the fully automated stock profit method!”
- “Would you like to turn €1000 into €250,00.00?”
Those who promise too much, and that too unsolicited, are in the rarest cases serious! Nevertheless, also check which guarantees and offers are presented to you by the service provider Expochains.
Have you had any experience with non-solicited orders?
Placing orders for transactions in securities without the account holder’s consent can sometimes lead to a sharp rise in the price of certain shares. This applies in particular to open market transactions in illiquid foreign shares (over-the-counter trading). Therefore, be vigilant if you are instructed to divulge sensitive data about investing with Expochains completely without your consent, citing seemingly lucrative trades or profit announcements.
Under no circumstances should you provide your IBAN, BIC and other bank sort codes to a third party who is not known to you. Neither should you disclose your account or deposit numbers or passwords. Do not hand over custody account documents or securities statements from Expochains to someone you do not know. Callers posing as investment advisers, online brokers or employees of a financial regulator are also unpredictable.
Reliable brokers do not refuse to pay out under any circumstances
Investors are repeatedly wooed by a “broker” or a call centre employee as soon as they have registered on the apparent online trading platform. The intention is to get the investor to increase his long-term investments in order to maximise the income. This is also a legal goal of the provider Expochains. Immediately after the investor has deposited his money, preliminary profit developments will probably be presented to his account.
This should encourage the investor to invest steadily in the financial product. The platform operators, in turn, can use fraud software to simulate manipulated account movements and earnings without the consumer noticing.
Make sure that accounts can be authorised equally with expochains.
In reality, no trading takes place on many online trading platforms. Instead, the money paid is transferred by the perpetrators to bank accounts abroad. This is not recognised by the customers at first. The “service providers” postpone the payment of the reported money profits by demanding the payment of allegedly incurred taxes and commissions from the investors. These manipulations only serve the purpose of increasing profits.
At a certain point, communication breaks down completely. The invested money is no longer there. From this moment on, the only way to take further steps is to go to a lawyer.
Unsolicited offers of help to recover investments?
Anyone who has ever lost assets to a fraudulent investment platform knows how disastrous that can be. That alone is bad enough. But in addition, the rip-off artists behind the bogus scheme contact you by email or phone in a manageable amount of time. This time, however, they do not pose as brokers of expochains. Instead, they guarantee to help you recover your lost assets in exchange for an upfront payment.
Many rip-off artists even appear to have been hired or entrusted by reputable organisations such as a financial regulator. After stealing your personal data, the scammers often pose as good Samaritans. They promise to help you recover the stolen money. Even if you have invested money with a provider like Expochains, your contact details may be stolen. Anyone who has lost a considerable amount of money is usually desperate.
The criminals take advantage of people’s worry by posing as money recovery companies. They offer their services under the bogus pretext of assisting them to recover their money. That is, they make dubious assurances that they will get back the lost capital.
Lawyers give advice on expochains
If you have already made investments with Expochains and now want to get them back, there are different methods.
- If arrests of the perpetrators would occur, claims of the injured parties can be asserted in the course of the court proceedings. For this purpose, we accompany our clients through the so-called adhesion procedure. In this way, we are able to obtain court titles for our clients against the platform operators. In most cases, these can then be directly enforced against the seized money of the perpetrators.
- If no solution is possible with the service provider, there is the option of filing a complaint with the responsible supervisory authority. The supervisory authority examines the case and has the option of ordering the investment service provider to pay a refund. The client then receives the amount back from the provider. Addresses for complaints can be, for example, financial supervisory authorities or financial ombudsmen.
- If an analysis by our lawyers would show that the financial service provider has probably acted unfairly, we file a criminal complaint on behalf of our client with the competent prosecution authorities. Our law firm is in constant contact with public prosecutors who conduct nationwide investigations. There are often hundreds or even thousands of injured parties in these criminal proceedings. The investigations recurrently extend to other states as well. In the past few years, there have been several significant search successes by the public prosecutor’s offices.
- Often a solution can be found with the service provider itself. In many cases, our law firm succeeds in reaching out-of-court sett lements with the service providers. Our clients then recover all or part of their investment.
- In the event that payments have been made to accounts abroad, the foreign prosecution authorities and banking institutions can also be informed. As a rule, they will then initiate their own investigations. This also has the aim of seizing funds in the accounts and subsequently transferring them back to our clients.