– The company advertises itself as an online broker. On its domain, profitable investments in the area of Bitcoin are possible.

You have invested with and would like your capital back? The Herfurtner law firm will help you with any problems. – assessing providers correctly

There are currently a very large number of online trading platforms such as Thus, investing in the volatile financial markets has never been as easy but also as risky as it is today.

Especially because there are plenty of opportunities, choosing a broker can be time-consuming and frustrating. Especially if it is to meet your individual investment needs. Have you already invested with Then the following points are important for you as an investor.

  • Access to the global financial markets is becoming easier and more versatile for investors through online investing.
  • There are several types of orders to choose from when trading online.
  • State-regulated brokers on the internet, trustworthy websites, fees and brokerage charges, product options and customer reviews are just some of the factors to consider when making your irrevocable decision.

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

Licence – is officially licensed?

Both financial markets and investor protection benefit from codes of conduct and organisational responsibilities. Bond service companies and firms like must comply with a number of regulations. The same applies to their employees.

This requirement is intended to circumvent conflicts of interest and associated disadvantages for money investors. This includes the obligation of the provider to inform its clients about the most significant features of a financial transaction before it is sealed.

This applies both to the respective investor and to the investment itself. According to this idea, extended information is indispensable for corporate clients who want to engage in highly speculative or risky transactions. Towards their clients, companies such as have a duty of care.

This goes far beyond making a product or service available. Does the service provider have a licence to sell investment products? You should definitely clarify this. For this purpose, you can use the broker check data collection of a financial supervisory authority and type the name of the provider into the search mask.

Does have bank accounts located abroad? Be cautious about payments as a matter of principle

Is it beneficial for you to transfer funds abroad? Look carefully at what you are doing. Many investors have already lost money in the process. You may lose track of where your money is going and how it is invested.

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

In addition to the licensed financial service providers, there are many dubious online trading platforms where a very similar procedure can be seen in most cases. Potential investors are contacted by employees of the respective trading platform.

For example, by telephone, as soon as the investor has left non-binding contact information on the service provider’s website. In dozens of cases, however, they are also contacted by mass e-mails. These entice the investor with supposedly profitable investments.

In the short term, the investor is provided with his own broker, who instructs him on how to set up an online trading account and make the first transfers. For the time being, the investor feels well supported and online trading starts mainly with small sums.

But soon larger transfers are required – often to accounts abroad. These transfers are intended to increase the potential profits. Problems with dubious providers ultimately arise when the investor demands a repayment. This is usually delayed again and again or linked to other monetary payments such as alleged taxes and commissions.

In the past, fraudsters operated exclusively from dubious locations. Nowadays, they operate from completely different locations such as the United Kingdom (including London), the Netherlands, Canada, Spain, Dubai and others. It is difficult for the vast majority of people to spot tricky methods.

Institution often receive email orders with enormous order volumes that are disproportionate to the common purchase amounts. In order to lure the German company, they proceed with enormous promises of profits.

However, the extreme order volume functions solely as a means of pressure in the communication with the seller in order to demand correspondingly increased admission and registration costs.

It is not always apparent whether the addressee of that payment is also the customer of the goods. Nevertheless, one can assume that companies that are active abroad will not have to pay local taxes on deliveries to other countries for the time being. Check whether this also applies to investments at

Have you had any experience with non-commissioned orders?

Placing orders for transactions in securities without the account holder’s consent can sometimes lead to a jump in the price of certain shares. This is especially true for open market transactions in illiquid foreign shares (over-the-counter trading).

Therefore, remain sceptical if you are instructed to disclose personal data about your investment at completely without your permission, citing supposedly lucrative deals or profit announcements.

At no time should you provide your International Bank Account Number, SWIFT code and other bank codes to a third party you do not know. Similarly, you should not disclose your account or deposit numbers and passwords.

Do not give custody account documents or securities statements from to anyone you do not know. Callers posing as investment advisors, brokers or employees of financial regulators are also unpredictable.

Distribution is linked to preconditions?

Investors are very often wooed by an “online broker” or a call centre employee after they have registered on the supposed online trading platform. The aim is to encourage the investor to increase their permanent investment in order to maximise profits. This is also an initially legitimate goal of the provider

Shortly after the investor has deposited his money, the first profit developments may be shown on his account. This should encourage the investor to invest steadily in the financial instrument. The platform operators, on the other hand, can use fraud software to simulate improper account changes and earnings, even without the buyer noticing.

Make sure that the accounts can also be verified at

In practice, no trading takes place at all on various online trading platforms. Instead, the deposited capital is transferred by the perpetrators to bank accounts outside Germany’s borders. This is not recognised by the capital investors for the time being.

The “online brokers” put the payout on the back burner of the represented profits by demanding payment of allegedly incurred taxes and commission costs from the investors. These tricks only serve the purpose of increasing profits.

At some point, the contact breaks off completely. The money transferred is used up. From this point on, the only thing left to do is to go to a lawyer to take further steps.

Recovery Scam? Beware of unsolicited offers of help after you have invested

Anyone who has ever lost funds to a fraudulent investment platform knows how devastating it can be. That alone is horrible enough. But in addition, the scammers behind the bogus entity will contact you by email or phone call within a manageable amount of time.

This time, however, they do not pretend to be financial advisors from Instead, they guarantee to help you recover the stolen money in exchange for a payment. Many scammers even appear to have been hired or instructed by trusted institutions such as a financial regulator.

After stealing your sensitive data, the rip-off artists usually pose as good Samaritans. They guarantee to help you recover the stolen money. Even if you have invested money with a service provider like, 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 worry by posing as service providers to recover funds. They offer their services under the bogus pretext of helping them recover their funds. That is, they guarantee in a dubious manner that they will get back the money they lost.

Do you want to recover your investment from Our law firm can help

It is advisable to take precautions as soon as possible if the suspicion is confirmed that a financial service provider is not acting properly and there is a risk that the broker will refuse to pay out profits.

In addition to a report, which our lawyers prepare for our clients with the criminal police, and a report to the financial supervisory authority, the provider should also be held legally responsible if necessary.

In doing so, the claims against the operator of the trading platform agreed in the contract as well as possible compensation options are reviewed. In the case of money transactions, it is also important to check whether financial institutions can be held responsible in the event of an error.

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

  1. Give us the names and contact information of everyone you have spoken to
  2. Tell us how long the online broker has not paid you
  3. Describe the facts of the case in an email to our solicitors

We will carry out a free initial assessment for you in connection with We will also let you know promptly whether we think you have a good chance of recovering your losses.