Favor Trades – The investment service provider is, according to information on the website of the provider https://favortrades.com/, a service provider for CFD trading, where you can claim various services as a customer. Accordingly, Favor Trades takes care of the investment opportunities of its customers.
You have invested with Favor Trades and would like your capital back? The Herfurtner law firm will help you with any problems.
Favor Trades – appraisal of the broker
Currently, there is a very high number of online trading platforms such as Favor Trades. 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 options, choosing an online broker can be time-consuming and daunting. Especially if you want them to meet your particular investment needs.
Have you already invested in trades with Favor? Then the following aspects are important for you as an investor.
- A good place to start for investors who want to learn about stocks, futures, binary options and cryptocurrencies is a website like this one.
- A wide range of order types can be used when trading online.
- Regulated online brokers, secure platforms, costs and commissions, product options and client reviews are just some of the features to consider when making your final decision.
- Access to cross-border stock markets is becoming easier and more affordable for money investors through online investing.
The following are general suggestions for investors – regardless of the platform you invest in.
Provider checklist – screen Favor Trades and think through investments
The following list serves to protect you from trading platforms with dubious intentions.
- Is there a complete imprint on the website?
- Do not use remote access software to gain access to your terminal equipment.
- Identity theft is a serious nuisance: Please do not hand over a copy of your photo ID. Criminals usually ask you to do this.
- Inquire as thoroughly as possible about the provider and the goods you want to buy (search engines on the Internet, forums, online card services).
- Do not accept any unsolicited investment tips from strangers via advertisements on the phone or e-mails.
- In which city is the official headquarters of the provider?
- Is the trading provider Favor Trades a company licensed by BaFin or in another country of the European Union?
- Is a company like Favor Trades listed in the company database of the relevant EU supervisory authority?
- Don’t be fooled by assurances of enormously high returns without the risk of losing money.
- Ask yourself: What is the name of the contact person I should get in touch with?
Do you feel the pressure of a tight deadline with Favor Trades?
Do you feel the pressure of a tight deadline? Is the online broker baiting you with a special offer, but you are under pressure to make a choice right away? This is certainly not an excellent idea, because it is usually a feint. Do not rush into anything! Not only can you get trustworthy offers now, but you can also invest in Favor Trades in the future.
To gain their goal, scammers know in depth what to do. They make an effort to get as many details as possible about their targeted person through well-worded requests. They also ask about the other person’s condition, for example whether he or she is home alone or whether he or she keeps money at home.
Furthermore, they play a game of “wait and see” in order to tire the person out. They may keep their counterpart on the phone for a very long time until he or she agrees to go to the financial institution and hand over cash and additional valuables to the fraudsters. In one such scam, time pressure is imposed on the injured party.
With that strategy, the victim is encouraged to ignore his own caution. Topical support scams use the same formula. Since the contacted person’s computer is presumably infected by an exceptionally persistent virus, the callers, presumably acting on behalf of Microsoft or such a provider as Favor Trades, demand in English with an Indian accent the urgent repayment of a maintenance contract.
The criminals add to the stress by threatening the targeted individuals to make them pay if their PC is infected and transmits the infections.
Vulnerable to losses – the grey capital market
Very few of the financial market participants such as Favor Trades are subject to government regulation and supervision. In the grey capital market, there are service providers who do not even need authorisation from the Federal Financial Supervisory Authority and only have to follow some regulatory requirements.
Only invest in the grey capital market if you are convinced of the company’s solvency and know it as a company. As already noted, the Federal Financial Supervisory Authority has no control over these providers. The grey capital market contains a wealth of opportunities. There are:
- Direct investments such as in timber, precious metals or other commodities
- Loans with a subordination agreement
- Ordinary bonds
- Participations in companies
- Profit participation rights and other hybrid bond forms
One thing is certain: it is uncertain what the end result will be for the investor.
Do you find it difficult to understand the product on offer? If so, you should find out as much information as possible before making a decision. Don’t buy anything you don’t fully understand! When it comes to investments, the more expertise you need, the more sophisticated the financial instrument.
It is also not advisable to concentrate all your assets on one product. Diversify your risk beyond favour trades. To avoid being mislead, it is advisable to always focus on the product itself rather than the name or presentation of the financial service.
Take legal action if online broker does not pay out
Investors are often solicited by a “broker” or call centre representative after they have registered on the alleged online trading platform. The aim is to encourage investors to increase their permanent investments in order to maximise profits. This is also a legal goal of the financial service provider Favor Trades.
Immediately after the buyer has transferred his money, the first profit developments may be shown on his account. This should encourage the investor to invest steadily in the financial instrument. However, the website operators can use fraud software to simulate improper account movements and earnings, even without the customer being aware of this.
Check that accounts can be verified equally at Favor Trades.
In reality, no trading takes place on many online trading platforms. Instead, the perpetrators transfer the transferred capital to bank accounts outside Germany’s borders. This is not noticed by the investors at first. The “online brokers” delay the payment of the reported profits by demanding that the investors pay what appear to be taxes and processing costs.
These scams only serve the purpose of increasing revenue. Sooner or later, the connection breaks completely. The deposited money is used up. From that moment on, the only thing left to do is to go to a lawyer to take necessary steps.
Unsolicited offers of help to recover funds?
Anyone who has ever lost capital through a fraudulent investment platform knows how fatal this can be. That alone is bad enough. But in addition, the criminals behind the bogus entity contact you by email or phone call in a very short time. This time, however, they do not pretend to be brokers of Favor Trades.
Instead, they guarantee to help recover the stolen assets for a fee. Many scammers even appear to have been hired or entrusted by reputable companies such as a financial regulator. After stealing your personal data, the perpetrators often pose as good Samaritans. They promise to help you recover the stolen money.
Even if you have invested money with a provider like Favor Trades, your contact details may be stolen. Anyone who has lost a large amount of money is usually distressed. The criminals take advantage of people’s worry by posing as “recovery companies”. They offer their services under the pretext of helping them get their funds back. That is, they guarantee in a dubious manner that they will recover the lost capital.
Lawyers inform about Favor Trades
Investors who suffer losses with a service provider such as Favor Trades, or who encounter difficulties in getting their profits paid out, should first and foremost avoid additional payments. It is then highly advisable to seek legal advice and have them look into any chances of recovering investments. It is important:
- act quickly
- do not lose hope
- seek legal support
Do you have questions about the provider of Favor Trades? In this case, our lawyers are at your disposal. Feel free to contact us for an exchange of views on the topic of Favor Trades.