GoldTradeCoins – the company describes itself on the company website as a platform for crypto trading. GoldTradeCoins offers its clients various services in the segments of trading with Bitcoin, Ethereum and several other cryptocurrencies.

The financial regulator from British Columbia recently published a warning about the provider GoldTradeCoins. According to this, it is not sufficiently registered. If you have invested money with the investment service provider GoldTradeCoins and now have problems with the payout, our lawyers will be happy to help you.

GoldTradeCoins – warning against the provider?

Currently, there is an extraordinarily high number of investment service providers such as GoldTradeCoins. Thus, it has never been as easy but also risky as now to invest in the volatile financial markets. Precisely because there are numerous options, choosing a broker can be time-consuming and intimidating.

Especially if it is to suit your personal investment plans. Are you thinking about investing with GoldTradeCoins? If so, the following points are important for you as an investor.

  • Entering the international stock markets is becoming more convenient and affordable for money investors through online investing.
  • An ideal place for investors to go to learn about stocks, futures, binary options and cryptocurrencies is a website like this one.
  • Regulated brokers on the internet, trustworthy websites, costs and brokerage fees, product options and reviews from clients are just some of the criteria you should plan for when making your final choice.

The following statements are basic recommendations for investors – regardless of the platform you invest in.

How risky is trading with financial service providers like GoldTradeCoins?

Just as the stock exchange and other financial markets are exposed to special risks, online trading is equally vulnerable. As an investor, you should therefore check GoldTradeCoins with regard to the following topics:

  • Risks that emerge from inaccurate or incompetent trading
  • Risks and dangers associated with the offering, such as potential losing trades
  • The dangers of online security
  • Insufficient knowledge of the offer

Minimise risk by looking for a proven track record when choosing a financial services provider. In this context, it is also relevant that you are assured of secure money management. This is the only way you can comfortably navigate the internet trading arena.

Investors who have a deft touch can definitely benefit from this and their earnings may be above average. Provided they have the right tactics. One thing should be clear to anyone who starts trading: The risk of losing more money when trading on the stock exchange than was deposited into the account of the broker GoldTradeCoins always exists.

GoldTradeCoins demands money transfers abroad? Vigilance is necessary

Is it advantageous for you to transfer funds outside Europe? Consider carefully what you are doing. Many investors have already lost assets in the process. It is conceivable that you will lose the overall view of where your funds are going and how they are invested.

When capital was provided to a provider, it happened that the online broker did not invest the received amount of money as agreed or even not at all. There were also cases where the company simply did not exist, although it presented itself in a comparable way to GoldTradeCoins.

In addition to the regulated providers, there are a number of dubious online trading websites, where a very similar procedure can be seen in the majority of cases. Potential investors are contacted by employees of the respective trading platform.

For example, by telephone, after the customer has provided non-binding contact information on the trading website. In dozens of cases, however, they are also contacted by e-mails sent en masse. These advertise supposedly profitable investments.

In the short term, the investor is provided with his own online broker who instructs him on how to set up a trading account and make the first deposits. The investor initially feels well supported and trading usually begins with smaller sums.

But shortly afterwards, larger deposits are required – mostly to foreign accounts. These payments are supposed to increase the possible profits. Problems with dubious online trading platforms arise as soon as the investor requests a repayment.

This is often delayed further and further or linked to additional payments such as alleged taxes and commissions. Previously, the criminals operated solely from dubious locations.

Now they operate from completely different locations such as the United Kingdom (including London), the Netherlands, Canada, the Kingdom of Spain, Dubai and many others. For the vast majority of people, it is challenging to expose tricky schemes.

Companies often receive e-mail orders with very large order volumes that bear no relation to the usual purchase amounts. In order to lure the German company, they proceed with large promises of profits.

However, the substantial order volume acts solely as a means of pressure in the communication with the seller to demand correspondingly excessive registration and licensing fees. It is not always clear whether the recipient of this payment is also the purchaser of the products.

Nevertheless, it can be assumed that companies active abroad will not have to pay local taxes on shipments to other countries in the near future. Check whether this also applies to investments with GoldTradeCoins.

Understand pump and dump and protect yourself

The term pump and dump is used to explain a practice in which the market price of a stock is artificially inflated by insiders. The same share is then sold at a loss to other investors. This is therefore a fraud. A fraud that profits from the cluelessness of small investors and stock market novices.

This approach is therefore illegal in a controlled securities market and for companies like GoldTradeCoins. The crypto market, on the other hand, is still by and large “Wild West” as far as such tactics are concerned. Therefore, extreme vigilance is indispensable!

Pump-and-dump scams are frequently encountered there in connection with the so-called altcoins. The pump-and-dump scam is used by criminals to inflate the value of an unknown currency or one they may have created themselves.

They achieve this by spreading disinformation on the internet or in social media or by luring co-investors with unreasonable profit expectations. So make sure that the provider GoldTradeCoins provides you with all the information you need on this topic.

Contact and procedure with questionable online trading platforms

There is an abundance of investment goods on fraudulent provider websites, which are aggressively advertised in internet forums and social networks in order to convince investors. In addition, “multi-level marketing” is used to solicit new investors. In the advertising, the assurance of timely profitability is emphasised above all.

To start investing, a potential buyer must first create a user account with the online trading platform – just like GoldTradeCoins. Next, the alleged online brokers contact the investor via a call centre and do everything they can to convince him to invest large sums of money.

The investors’ optimistic attitude towards cybertrading is partly reinforced by their desire for future profits. Buyers are more willing to invest in the future if they see exactly the kind of results they dream of. At this stage, investors are being hoodwinked by a corrupted trading algorithm about the true evolution of stock market data and prices.

GoldTradeCoins does not necessarily fall into this category. The backers use their own unilaterally defined price values when calculating profits. As a result, the financial service provider has all the control over whether a profit is made or not. Until the supposed profits are paid, this deception will continue.

If the investor wishes to be paid, the buyers suddenly no longer have access to their client accounts and the personal contacts associated with them. Most investors lose their capital fully invested in this illegal trade, forcing them to seek legal assistance.

Ways to terminate contracts: Value transparency

Check at what time and how much money is paid out. At best, avoid long-term contracts that cannot be terminated early or where you would suffer heavy financial losses. Only conclude longer-term contracts without the possibility of early termination with providers like GoldTradeCoins whose reliability you have no doubts about.

Even if you have the option to waive or terminate a contract at any time over a certain period of time, you should be sceptical. Even then, if these criteria are met, you are still vulnerable to economic loss. Make sure you know exactly how much money you will get back if the investment goes wrong.

The following rule applies to securities transactions: Before the end of the contract period, find out what options you have to get rid of a security. Mostly it is crucial to know whether there is a liquid market for products – as offered by GoldTradeCoins. It is possible to sell share certificates via an online broker or a financial institution.

All 3 options are legal for placing a sell order. The actual selling process is then carried out via a stock exchange (e.g. Berlin, Stuttgart, Frankfurt, Tradegate or Xetra) (e.g. for penny stocks). Order supplements can be used to control the execution of the order in advance. The sale of the securities takes place at a time and place defined by you.

Repayment of GoldTradeCoins does not work? Call in a law firm immediately

Action must be taken as soon as possible if the suspicion is confirmed that an investment service provider is not working correctly and the risk exists that the broker will not make its payouts.

Apart from a report, which our law firm files for our clients with the criminal investigation department, and a notification to the financial supervisory authority, the provider should possibly also be held legally responsible.

This involves examining the contractually agreed claims against the financial service provider as well as possible compensation options. In the case of money transactions, it is also important to check whether financial institutions can be held liable in the event of an error.

Claims for compensation against financial institutions may exist, for example, in the case of money laundering or other criminal acts. However, this must be examined depending on the context at hand. If your online broker delays the payout, you should immediately contact a professional law firm:

  1. Discuss the facts with us in an email
  2. Give us the names and contact details of anyone you have communicated with
  3. Tell us how long the online broker has not paid you

We will carry out a free initial assessment for you in connection with GoldTradeCoins. We will also let you know as soon as possible whether we think you have a real chance of recovering your losses.