GCX Prime – the company described itself as an online broker on its own website https://www.gcxprime.com/. The provider’s website is currently no longer online. You have invested with GCX Prime and would like your money back? The law firm Herfurtner will help you in case of difficulties.

GCX Prime – customer-oriented online broker?

Currently, there is a very high number of online trading platforms such as GCX Prime. This means that investing in the unpredictable financial markets has never been as easy but also as uncertain as it is now. Especially because there are many options, choosing a provider can be time-consuming and daunting. Especially if you want them to match your particular investment ideas. Have you already invested with GCX Prime? In this case, the following points are important for you as an investor.

  • Licensed brokers on the internet, reputable portals, costs and bonuses, product options and customer feedbacks are just a few of the features you would need to plan for when making your final decision.
  • Access to global stock markets is becoming more convenient and lucrative for investors through online investing.
  • When trading in the www, several types of orders can be used.

The following information is general advice for investors – regardless of the platform you invest in.

GCX Prime Checklist: Evaluate investment offers comprehensively

The following list serves to protect you from providers with fraudulent intentions.

  • Is a provider like GCX Prime listed in the company database of the relevant EU supervisory authority?
  • Do not be misled by stories about high profits without the risk of losing assets.
  • In which location is the provider’s head office?
  • Identity theft is a problem: please do not leave a copy of your photo ID. Rip-off artists usually ask you to do this.
  • Ask yourself: What is the name of the contact person you want me to get in touch with?
  • Is the trading service provider GCX Prime a company licensed by BaFin or in another EU country?
  • Is there a complete imprint on the website?
  • Do not use any remote maintenance software that gains access to your end devices.
  • Inform yourself as comprehensively as possible about the company and the goods you want to buy (search engines on the net, blog entries, online map services).
  • Do not accept unwanted investment recommendations from strangers via advertisements on the phone or e-mails.

Offer for a limited time only – even with GCX Prime?

Are you feeling the pressure of a tight deadline? Is the financial services provider baiting you with an exceptional offer, but you are under pressure to make a choice in a timely manner? This is not the best idea, because it is usually a ruse. Do not rush into anything! Not only can you receive serious offers now, but you can also invest with GCX Prime in the future.

To achieve their goal, criminals know in depth what they have to do. They make an effort to get as much information about their target as possible through cleverly formulated enquiries. In addition, they ask about the circumstances of the interlocutor, e.g. whether he is alone at home or whether he has money at home.

They also play a game of “wait and see” to tire out the person. They may keep their counterpart on the phone forever until he or she agrees to go to the credit union and hand over money and additional valuables to the criminals. In one such scam, a deadline pressure is imposed on the injured party. With that strategy, the victim is tempted to let his own guard down.

Current support scams use the same method. Since the PC of the person contacted is allegedly infected by an exceptionally serious computer virus, the callers, who presumably work on behalf of Microsoft or a financial service provider such as GCX Prime, demand urgent payment for a maintenance contract in English with an Indian accent. The scammers maximise the stress, in the way that they threaten the targeted persons to make them pay if their PC is infected and transmits the infections.

The grey capital market: identifying trustworthy offers

Only a few of the financial market participants such as GCX Prime are subject to official regulation and supervision. Providers who do not need a licence from BaFin and only have to follow some regulatory criteria operate in the grey capital market. Only invest in the grey capital market if you are sure of the provider’s creditworthiness and know it as a company. As said, BaFin has no control over these providers. The grey capital market contains a plethora of options. There are:

  • Direct investments such as in timber, precious metals or other commodities
  • Profit participation rights and other hybrid forms of bonds
  • Loans with subordination clauses
  • Crowdfunding offers
  • Corporate investments

One thing is certain: it is uncertain what the end result will be for the investor. Is it difficult for you to get an overview of the product on offer? Then you should gather 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 know-how you need, the more complicated the financial product.

It is also not recommended to put all your money on one horse. Diversify your risk beyond GCX Prime. To avoid being wrongly influenced, always focus on the product itself and not on the name or image of the financial service.

Typical course of investment fraud: Tips to protect yourself

You want to invest with GCX Prime? Then you should find out all relevant information about the company. Investment fraud is a special form of fraud. The criminal guarantees or pretends a lucrative investment in the capital market to a large circle of people. Capital investment fraud is sanctioned according to § 264a StGB with a prison sentence of up to three years or with a fine. The following products and tactics can sometimes be considered as capital investment fraud:

  • Boiler room scam, a cold call seeking investors by phone call
  • Unintentional telephone advertising calls, so-called cold calling
  • Scammers use the brand name of the service provider GCX Prime and clone the company
  • Shareholdings in companies

Anyone who has fallen for investment fraudsters has usually invested a lot of money. What can you do in case of investment fraud?

  1. Involve police authority and financial supervisory authority via a lawyer: Police collection procedures exist against certain fraudulent companies in the FRG and also abroad. The police are authorised to have the criminals’ bank accounts blocked and the money seized. In addition, the prosecuting authorities are called in.
  2. Recovering funds: If payments have been made via credit card, in many cases this can be recovered by instructing a law firm. In the case of transfers from the current account, this can often be recovered by bank order.
  3. Withdraw or contest contracts: Affected persons who have concluded a contract can withdraw or contest such a contract in the case of investment fraud.
  4. Claiming damages: Persons who have received improper advice can claim damages from the investment advisor.

Compare brokers: How much commission is realistic?

Before investing with GCX Prime, find out how much of your investment amount is 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 made aware of all fees charged and their impact on the profit margin of investment service providers.

In addition, the costs must be listed separately. If you request a detailed overview of any costs, the financial service providers are obliged to provide you with this information. For obvious reasons, an online broker such as GCX Prime is usually interested in as many trading transactions as possible. Very often the costs are so high that it is difficult to make a profit.

The costs can even eat up the money invested in a very short time. Therefore, be sure to pay attention to the costs! The broker’s trading fees must be accessible to everyone. The transparency of the structure of the costs is also specified in the legal regulations and licensing. In the event of an offence, the provider’s licence can be revoked.

Lawyers advise on GCX Prime

Have you invested money with GCX Prime, or a similar provider? Now you are encountering problems with repatriation? Then it is advisable to block additional payments immediately. This is especially true if the provider demands additional payments to compensate for deficits. In addition, one should try to recover the lost capital.

In this context, aggrieved private investors can seek investor protection and contact the lawyers of our law firm. Our law firm examines both civil and criminal law options as well as possible claims for damages against the service provider and against implicated payment service providers such as financial institutions.

“One can no longer speak of an exceptional case if a private investor loses his capital in online trading. Many investors are blinded by the professional appearance of the service providers and only realise too late that they are not responsible for their loss Our recommendation is therefore not to resign, but to react quickly and actively.

Because the chance of recovering the lost capital is often greater than the aggrieved investors suspect. Would you like to talk to one of our lawyers about GCX Prime? Then you can go straight to our contact page here.