IcoTradepro – The alleged investment service provider IcoTradepro presents itself on its online presence https://icotradepro.com/ as an online broker.

If you have invested with the provider IcoTradepro and are now experiencing repayment problems, our lawyers are here to help and advise you.

IcoTradepro – Broker Overview

Currently, there is a very high number of online trading platforms such as IcoTradepro, among others. As a result, investing in the volatile financial markets has never been as easy but also as uncertain as it is today.

Precisely because there are countless options, choosing a financial services provider can be time-consuming and daunting. Especially if you want them to meet your investment needs.

Are you considering investing with IcoTradepro? Then the following aspects are relevant for you as an investor.

  • With online trading you can use numerous order types.
  • An optimal address for investors who want to enquire about share certificates, futures, binary options and cryptocurrencies is a web presence like this one.
  • Access to cross-border stock markets is made more convenient and lucrative for investors through online investing.
  • Officially licensed online brokers, reputable websites, costs and brokerage fees, product options and key data are just a few of the criteria you would need to plan for when making your final choice.

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

IcoTradepro: Consider investments and proceed with strategy

Investors have a wide range of investment opportunities at their disposal, with trusted and questionable service providers vying for their attention.

There are many indications that a service or offering is not trustworthy, and it is important to focus on this. Here’s what details to look out for once you invest your hard-earned assets.

Banking, financial services and insurance companies such as IcoTradepro are only allowed to operate in the Federal Republic of Germany with state authorisation. The companies have received authorisation, but this in no way means that the services sold are of excellent quality.

In the event that a prospectus or information sheet approved by the Federal Financial Supervisory Authority has been published in advance, securities and investments can also be made accessible to the general public.

BaFin simply ensures that prospectuses are complete, comprehensible and coherent. IcoTradepro’s prospectus or information sheet is not necessary in every context.

Before investing, consider your long-term expectations and assess whether you have the monetary means to achieve them. Do not rush the process. Before putting your assets into an investment, take time to review the pros and cons. Do not make a decision immediately, even if you have consulted with others.

Does IcoTradepro contact you via email?

Have you ever received investment offers by e-mail from a service provider like IcoTradepro that you are not familiar with? Do you get fax messages from the exchange that you have by no means requested? Or have you received an apparent “insider tip”?

Investors should beware of such suggestions, because they are often spread by dubious persons or brokers who want to make a profit by selling securities from an embellished success story.

Cases have also become known in which consumers are consulted by an apparent stock exchange supervisory authority.

It is erroneously told that the people written to have become victims of a fraud and that the relevant data has been passed on to the stock exchange supervisory authority by the alleged Federal Public Prosecutor’s Office in Karlsruhe. The persons written to are expected to fill out an Internet form.

This is a clear attempt at fraud. We recommend that under no circumstances should you interact with this person or provide any personal information such as usernames, passwords, credit card numbers or additional identifying information such as your account details with IcoTradepro.

Ponzi scheme definition

A Ponzi scheme, or Ponzi scheme, is a type of capital fraud. In this scheme, assets are pooled from new investors and then used to distribute capital to the former victims.

The masterminds of Ponzi schemes often claim that they will invest your assets and reap huge returns without putting your capital at risk. Regardless of all this, in many Ponzi schemes, the lawbreakers do not actually invest the assets they receive.

Instead, it is used to pay off people who have previously paid in. This allows the criminals to keep some of the assets for themselves. So pay attention to the risk-reward ratio in all investments – also with IcoTradepro.

Ponzi schemes need a continued inflow of fresh assets to keep running, as they have minimal or no actual profits. Many of these schemes fail when it becomes difficult to attract fresh investors or when a substantial number of investors drop out.

Assuming you want to invest capital with a service provider like IcoTradepro, you should act with prudence without exception.

The signs you should look out for include:

  • The distribution of profits is not working out? If you cannot receive any payments at all or have difficulty getting distributed, you should be cautious. The operators of pyramid schemes may try to persuade participants to stay with the promise of even higher profits if they do not withdraw money.
  • Risk-free profits with little or no volatility. Every investment carries a certain amount of risk, and the riskier an investment is, the more likely it is to yield a high return.
  • Strategies that are very difficult to identify. Keep your assets out of the stock market if you don’t know enough about this.
  • Is there a problem with the documentation? If there are errors on your account statement, this may indicate that your capital is not being invested properly.
  • Overly predictable results. Over time, investments tend to rise and fall. Any investment that consistently delivers positive returns detached from market conditions should be viewed with a high degree of disbelief.

Differences: reputable and dubious operators of trading websites

A variety of investment products exist on dubious online trading platforms, which are aggressively advertised on internet forums and social media to lure investors.

In addition, “network marketing” is used to solicit new investors. In particular, the promise of immediate profitability is emphasised in the advertising.

In order to start investing, a potential buyer must first create an account with the online trading platform – such as IcoTradepro. Then the perpetrators contact the investor via a call centre and do everything they can to convince him to invest large sums of money.

The investors’ positive attitude towards cybertrading is partly reinforced by their desire for future profits.

Clients are more willing to invest in the future if they see exactly the kind of results they expect. At this stage, money investors are deceived by a manipulated trading algorithm about the true trend in stock market data and prices. IcoTradepro does not necessarily belong to this category.

The criminals use their own unilaterally defined price values when calculating profits. This means that the provider has all the control over whether a profit is made or not.

Until the supposed returns are paid out, this manipulation will continue. If the investor demands the payout, the clients suddenly no longer have access to their accounts and the direct contacts associated with them. The majority of investors lose all their assets invested in this illegal trade, forcing them to contact a lawyer.

Sudden offers of help to recover investments?

Anyone who has ever lost capital to a fraudulent investment platform knows how devastating this can be. That alone is terrible enough. But on top of that, the criminals behind the bogus model contact you within a short time by email or phone call.

This time, however, they do not pretend to be brokers from IcoTradepro. Instead, they promise to help you recover your lost money in exchange for an advance payment. Many rip-off artists even seem to have been hired or entrusted by reputable companies such as a financial regulator.

After stealing your personal information, the scammers often pose as good Samaritans. They guarantee to assist you in recovering the stolen money. Even if you have invested money with a service provider like IcoTradepro, your contact information may be stolen.

Those who have lost a considerable amount of money are usually desperate. The criminals take advantage of people’s desperation by posing as “recovery” companies. They offer their services under the guise of helping them get their money back. This means they promise in a dubious manner that they will recover the lost assets.

Losses with IcoTradepro – recommended action from a lawyer

In order to be able to assess whether you have a repayment claim against the financial service provider IcoTradepro, it is always necessary to assess your individual case. The lawyers of the Herfurtner law firm will do this for you in the context of a free initial consultation.

The basis of this assessment is always the facts of your case. In addition, similarities can often be drawn with similar cases. You therefore benefit from the comprehensive experience of our lawyers.

After the complete review of all documents and the legal classification, the approach is initially oriented against the provider IcoTradepro itself, should certain breaches of duty be ascertainable. In order to be able to prove these breaches of duty, the contract documents, the e-mail communication and possibly other documents should be examined.

In addition, regulated online trading service providers are equally obliged to make and store telephone records of conversations with buyers. The request to hand over such documentation and the subsequent analysis is also an advisable and necessary step to enforce your claims.

With the help of this evidence, clients’ claims can be enforced both in extrajudicial and judicial proceedings.

The financial institutions and crypto exchanges that are on the receiving end should also be taken into consideration. Due to the fact that very often considerable amounts of money are involved, the question arises again and again whether the institutions have complied with their duties to provide information and their obligations under the Money Laundering Act. It is not possible to make a general statement in this regard; rather, the case of the individual must be examined.

The same applies to the beneficiary on the receiving side, who is usually not equivalent to the financial service provider itself. Under certain circumstances, the financial service provider can also be held liable if breaches of duty can be proven.

After all civil law options have been exhausted, criminal law proceedings remain, if the initial suspicion of an illegal act is substantiated. This requires contacting law enforcement agencies at home and abroad and coordinating further measures.

For the time being, many federal states have set up special departments to deal with fraud cases in connection with online and crypto trading. The lawyers of the Herfurtner law firm are in regular contact with these departments.

Our lawyers know that web hosts also provide valuable information on domain holders. However, contacting the internet providers, who are often based abroad, is extremely difficult for the layman.

Nevertheless, financial supervisory authorities in Germany and abroad are practical sources of information for aggrieved investors.

Apart from the complaint against the particular service provider, which is intended to protect other potential consumers from investments, additional information can possibly be obtained through the financial supervisory authorities as information providers.

This information often makes it possible to combine investigations in the FRG, Austria and Switzerland.