Finocloud – The apparent investment service provider Finocloud presented itself on its website http://finocloud.world/ as a serious online trading provider. Currently, the website is no longer online.
You encounter problems with the payout of your investment? Our lawyers can help you with claims against Finocloud.
Finocloud – are investments safe?
Currently, there is an extraordinarily high number of investment service providers such as Finocloud, among others. This means that investing in the unpredictable financial markets has never been as easy but also as risky as it is today.
Especially because there are so many options, choosing a broker can be time-consuming and daunting. Especially if you want it to meet your investment needs. Are you considering investing with Finocloud? Then the following aspects are important for you as an investor.
- Access to transnational financial markets is becoming easier and more lucrative for investors through online investing.
- State-regulated online brokers, secure portals, fees and commissions, product options and customer reviews are just selected criteria to plan for when making your final choice.
- An ideal address for investors who want to learn about stocks, futures, binary options and cryptocurrencies is a web presence like this one.
The following information is general advice for investors – regardless of the platform you invest in.
Keep a cool head – assess providers like Finocloud correctly
Investors have a wide range of investment opportunities to choose from, with reputable and questionable financial service providers vying for their favour. There are many indicators that a service as well as an offer is not trustworthy, and it is weighty to have a look.
Here you can find out what details you need to pay attention to as soon as you invest your hard-earned money. Banking, financial services and insurance companies such as Finocloud are only allowed to operate in Germany with state authorisation.
The companies may have received authorisation, but that does not mean that the products they offer are of excellent quality. In the event that a prospectus or information sheet approved by the Federal Financial Supervisory Authority has been published beforehand, securities and investments can also be made accessible to the general public.
The Federal Financial Supervisory Authority simply ensures that prospectuses are complete, plausible and coherent. Finocloud’s prospectus or information sheet is not required in every circumstance. Before investing capital, it is advisable to consider your sustainable objectives and whether you have the financial means to achieve them.
Do not rush the process. Before putting your capital into an investment, take time to weigh the pros and cons. Do not make a choice directly, even if you have consulted with others.
If an unknown broker calls abruptly – what to do?
Have you ever received a telephone call from a stranger who has presented you with a special offer? Under no circumstances should you react to it without checking carefully. Unsolicited calls are forbidden. “Cold calling” is expressly not permitted at investment service providers and other companies such as Finocloud.
There are also people who claim to work for trusted web trading platforms. In this way, they want to get people to give them their personal data. Often, after your very first deposit, you are asked to deposit more assets. Phone scammers are always coming up with new methods to rob donors of their savings, cash and other valuables.
A common strategy of the criminals is to call the people they want to harm at inconvenient times of the day. This is, for example, very early at dawn or very late at night. Times, in other words, when they are least concentrated.
In addition, the lawbreakers pretend at the beginning of the conversation that they and the person being called know each other. The other possibility is to pretend that the callers are friendly.
By doing this, the perpetrators give the person they are talking to on the phone a feeling of sympathy and trust. Check whether you are truly dealing with the Finocloud company when you are contacted by phone.
Grey capital market – what is it?
Only a small number of financial market participants such as Finocloud are subject to official regulation and control. In the grey capital market, financial service providers trade who do not even need approval from the Federal Financial Supervisory Authority and only have to comply with a few regulatory requirements.
Only make an investment in the grey capital market if you are convinced of the solvency of the provider and know it as a company. As already mentioned, the Federal Financial Supervisory Authority has no control at all over these service providers. The grey capital market offers a wealth of options. There are:
- Corporate investments
- Loans with a subordination agreement
- Direct investments such as in timber, precious metals or other commodities
- Ordinary bonds
- Crowdfunding offers
One thing is certain: it is uncertain what the end result will be for the investor. Do you find it difficult to keep track of what is on offer? If so, you should find out as many facts as possible before making a decision. Don’t buy anything you don’t fully understand!
When it comes to financial transactions, the more experience you need, the more complex the product. It is also not advisable to put all your assets on one card. Diversify your risk beyond Finocloud. In order not to be influenced to your disadvantage, you should always focus on the product itself and not on the name or image of the financial service.
Reputable online brokers comply with your request for distribution
Investors are very often wooed by an “online broker” or a call centre representative the moment they have set up an account on the alleged online trading platform. The intention is to encourage the investor to increase their long-term investments in order to maximise profits.
This is also a legitimate goal of the provider Finocloud. Immediately after the investor has deposited his money, preliminary profit developments will probably be presented on his user account. This should motivate the investor to continuously invest in the financial product.
However, the website operators can simulate false account changes and earnings through the use of fraud software, even without the consumer being aware of it.
Check that the accounts can also be authorised with Finocloud.
In reality, no trading at all takes place on quite a few platforms. Instead, the fraudsters transfer the paid capital to accounts outside Germany’s borders. This is not noticed by the buyers at first.
The “financial service providers” delay the disbursement of the represented monetary gains by demanding that the investors pay apparently due taxes and processing costs. These manipulations only serve the purpose of increasing profits.
Sooner or later, communication breaks down completely. The paid-in capital is used up. From this point on, the only thing left to do is to go to a lawyer to take further action.
How high is the order commission for online trading?
Before investing with Finocloud, find out how much of your investment amount is used to cover costs such as fees and commissions. This is a good time to check the info provided by the service providers in detail! Investors must be informed about all calculated fees and their effect on the profit margin of investment service providers.
Furthermore, the costs must be listed individually. As soon as you request a detailed overview of all fees, the providers are obliged to provide you with this information. A provider like Finocloud is usually interested in as many trading transactions as possible for understandable reasons.
Often the costs are so high that it is difficult to make a profit. The fees can even devour the invested assets in a very short time. Therefore, be sure to take the costs into account! The broker’s trading fees must be publicly available.
The transparency of the cost structure is also stipulated in the official rules and regulations. In connection with a violation, the service provider’s licence can be revoked.
Losses with Finocloud – Recommendations for action from a lawyer
Investors who have suffered losses with a service provider such as Finocloud, or who are having problems getting their profits paid out, should first stop further payments. Next, it is definitely advisable to seek legal advice and have them assess all the options for refunding your funds. Important:
- seek legal help
- do not lose hope
- act swiftly
Do you have questions about the provider Finocloud? In this case, our lawyers are ready to provide information. Please feel free to contact us. You can access our contact area here to exchange information on the topic of Finocloud.