GrowPro Markets – On its homepage https://growpromarkets.com/ the online broker claims to be a financial service provider active in online trading and investments. Accordingly, investors can invest in forex, shares, indices, cryptocurrencies, commodities and precious metals.
You have invested with GrowPro Markets and would like your capital back? The Herfurtner law firm can help you with any problems.
GrowPro Markets – Experiences of investors
There are currently a very large number of investment service providers such as GrowPro Markets. As a result, investing in the unpredictable financial markets has never been as easy but also risky as it is now.
Precisely because there are a large number of options, choosing a broker can be time-consuming and intimidating. Especially if you want them to meet your investment requirements. Have you already invested with GrowPro Markets? Then the following points are important for you as an investor.
- Access to cross-border exchanges is becoming more practical and affordable for investors through online investing.
- An ideal place for investors to go for information on share certificates, futures, options and cryptocurrencies is an online presence like this one.
- A wide range of order types can be used when trading online.
- State-regulated online brokers, secure websites, fees and brokerage charges, quote options and customer reviews are just some of the aspects to include in your irrevocable choice.
The following statements are general advice for investors – regardless of the platform in which you invest money.
GrowPro Markets: Methods to evaluate a financial service provider
Investors have a wide variety of investment options at their disposal, with reliable and questionable service providers competing for their favour. There are many indications that a service or product is not reliable, and it is important to keep an eye out.
Here you will learn what to look out for in the event that you invest your hard-earned money. Banking, financial services and insurance companies such as GrowPro Markets are only allowed to operate in the Federal Republic of Germany with a state licence.
The companies may have obtained a licence, but this in no way means that the services they sell are of good quality. In the event that a prospectus or information sheet approved by the German financial authorities has been published in advance, share certificates and investments may equally be made available to the general public.
BaFin merely ensures that the prospectuses are complete, comprehensible and coherent. The prospectus or information sheet of GrowPro Markets is by no means necessary in every circumstance. Before you invest money, you should think about your long-term goals and check whether you have the actual means to achieve them.
Do not rush the process. Before putting your capital into an investment, take time to weigh the pros and cons. Don’t make an immediate decision, even if you have consulted with others.
Serious investment tips at GrowPro Markets?
Does GrowPro Markets tempt you to try out investments with a small amount? Can’t find data on the financial services provider because it’s ostensibly a new company with exciting business ideas? The probability is high that the “insider” advice is a deception.
fter a short time, the provider will make you understand that your capital investment was a huge success and ask you to increase your investment. The success of your trial investment may make you want to make more investments. Here are some examples of dubious investment tips:
- “Make €3500.00 per calendar month with the fully automated share profit method!”
- “Give us just 5 minutes of your life and become a billionaire.”
- “Would you like to turn 1000 EUR into 250.00,00 Euro?”
- “5-star share with a dividend of 47.88 percent”
Anyone who promises too much, and that too unsolicited, is in the rarest cases serious! So also check which offers and promises are made to you by the broker GrowPro Markets.
Dangers of pyramid schemes
A Ponzi scheme is a type of financial fraud. In this scheme, assets are collected from new investors and then used to pay out capital to the original victims. The masterminds of Ponzi schemes often assure you that they would invest your money and make substantial profits without putting your assets at risk.
Yet, in many Ponzi schemes, the lawbreakers do not actually invest the assets they receive. Instead, it is used to pay off people who paid in earlier. This allows the perpetrators to keep some of the funds for themselves. So pay attention to the risk-reward ratio in all investments – including GrowPro Markets.
Ponzi schemes need a continued inflow of fresh capital to keep running, as they have minimal or no real profits. Many of these schemes fail when it becomes costly to generate new money investors or when a considerable number of investors drop out.
If you want to invest capital with a provider like GrowPro Markets, you should always act with prudence. Among the clues you should watch out for are:
- The payment of profits does not work? If you do not receive any payments at all or find it difficult to get paid out, you should be on your guard. Ponzi scheme operators may try to persuade participants to stay by promising even higher returns if they do not withdraw money.
- Tactics that are difficult to detect. Keep your money out of the stock market unless you know enough about it.
- Overly predictable outcomes. Over time, deposits tend to rise and fall. Any investment that delivers permanently high returns independent of market conditions should be viewed with a high degree of scepticism.
- Risk-free profits with little or no volatility. Every investment involves a degree of risk, and the riskier a deposit is, the more likely it is to deliver a high return.
If the broker refuses to distribute
Buyers are often wooed by a “broker” or call centre employee the moment they have registered on the supposed trading platform. The intention is to encourage the investor to increase his long-term investments in order to maximise profit. This is also a legal goal of the provider GrowPro Markets.
Shortly after the customer has transferred his capital, preliminary profit developments may be displayed on his account. This should encourage the investor to invest steadily in the financial product. The operators of the trading platform, however, can fake account changes and profits using fraud software, even without the consumer noticing.
Make sure that accounts can be authorised equally at GrowPro Markets.
In reality, no trading takes place at all on several platforms. Rather, the money transferred is transferred by the fraudsters to bank accounts outside Germany. This is not noticed by the buyers at first.
The “service providers” put off paying out the designated funds by demanding that the investors settle any taxes and processing costs that are allegedly incurred. These manipulations only benefit the goal of increasing profits.
Sooner or later, the connection breaks down completely. The paid-in capital is no longer there. From this moment on, the only way left is to go to a lawyer to take the necessary measures.
Recovery Scam? Beware of unsolicited offers after you have invested
Anyone who has ever lost money to a fraudulent investment platform knows how devastating it can be. That alone is horrible enough. But in addition, the criminals behind the bogus model contact you by email or phone within a very short time.
This time, however, they do not pose as GrowPro Markets online brokers. Rather, they promise to help recover the stolen assets for a fee. Many scammers even appear to have been hired or commissioned by reputable organisations such as a financial authority.
After stealing your personal data, the perpetrators usually pose as good Samaritans. They promise to help you recover the stolen money. Even if you have invested money with a service provider like GrowPro Markets, your contact details may be stolen.
Anyone who has lost a substantial amount of money is usually desperate. The criminals take advantage of people’s desperation by posing as service providers to retrieve funds. They offer their services under the pretext of helping them get their money back. This means they securitise in a dubious manner that they will recover the lost capital.
Legal advisers give advice on GrowPro Markets
You should take precautions as soon as possible if the suspicion that an investment service provider is acting improperly is confirmed and there is a risk that the broker will not make its payments.
Apart from filing a criminal complaint, which our lawyers do for our clients with the criminal investigation department, and a report to the financial regulator, the provider should possibly also be held accountable under applicable law.
This involves an assessment of the claims against the broker agreed in the contract as well as possible compensation options. In the case of money transactions, it is also relevant to check whether financial institutions can be held liable in the event of an error.
Claims for damages against banking institutions can arise, for example, in the case of money laundering or other illegal acts. However, this must be examined depending on the respective facts. As soon as your provider delays the payment, you should therefore immediately contact an experienced law firm:
- Discuss your case with our lawyers in an email
- Tell us how long the broker has been refusing to pay
- Give us the names and contact details of anyone you have communicated with
Herfurtner Law Firm will provide you with a non-binding initial assessment in connection with GrowPro Markets. We will also let you know as soon as possible whether we believe you have a good chance of recovering your losses.