– The alleged financial service provider presents itself on its website as a broker in the areas of digital currencies, shares, commodities, indices and forex. You have invested with and want your capital back? The Herfurtner law firm can help you with obstacles. – Broker at a glance

Currently, there is an extremely high number of online trading platforms such as Thus, investing in the unpredictable financial markets has never been as easy but also as uncertain as it is now. Especially because there are countless opportunities, choosing a provider can be time-consuming and intimidating. Particularly if it is to suit your particular investment intentions.

You have already invested with Then the following points are important for you as an investor.

  • Federally regulated online brokers, secure portals, costs and brokerage commissions, product options and client reviews are just a few of the aspects you need to consider when making your final decision.
  • In online trading, you can use a wide range of order types.
  • Access to the international stock markets is becoming more convenient and lucrative for money investors through online investing.

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

Has the service provider been granted a licence?

Both the financial markets and the protection of investors benefit from rules of conduct and organisational responsibilities. Equity service companies and providers like have to follow a multitude of regulations. The same applies to their employees. This is to prevent conflicts and associated disadvantages for financial investors.

This includes the obligation of the provider to inform its corporate clients about the most significant features of the transaction before sealing a share deal. This applies both to the investor in question and to the investment itself. According to this idea, further information is required for clients who want to engage in highly speculative or risky transactions. Towards their corporate clients, firms like have a responsibility.

This goes far beyond the provision of an offer or service. Does the provider have a licence to distribute financial products? You should definitely check this. To do this, you can use the broker check database of a financial supervisory authority and enter the brand name of the service provider in the search mask.

Does demand payments abroad?

Does it make sense for you to transfer assets to a country outside Europe? Pay close attention to what you are doing. Quite a few investors have already lost money in this context. It is possible that you lose track of where your money is going and how it is invested. When capital has been made available to a provider, it has happened that the company has not invested the transferred amount as agreed or even not at all.

There were also cases where the company simply did not exist, although it presented itself in a similar way to In addition to the regulated service providers, there are several dubious online trading platforms where a similar procedure can be observed in most cases. Potential investors are contacted by employees of the respective trading platform. For example, by telephone if the investor has provided non-binding contact details on the provider’s website.

In many cases, however, they are also contacted by mass e-mails. These e-mails advertise supposedly lucrative investments. In the short term, the investor is provided with his own online broker, who instructs him on how to set up a customer account and make the first payments. The investor feels well advised at first and online trading usually starts with small amounts. But shortly afterwards, higher transfers are demanded – mostly to foreign accounts.

These payments are intended to increase potential profits. The obstacles with fraudulent providers finally arise when the investor demands a payout. This is often repeatedly postponed or linked to additional payments such as alleged taxes and brokerage commissions. In the past, the criminals only operated from questionable locations.

Now they are active from completely different locations such as the United Kingdom (incl. London), the Netherlands, Canada, the Kingdom of Spain, Dubai and others. For the vast majority of people, it is challenging to identify tricky scams. Companies often receive e-mail orders with huge order volumes that are disproportionate to the usual purchase amounts. To lure the German company, they proceed with big promises of profits.

However, the extreme order volume only serves as leverage in talks with the manufacturer to demand correspondingly high approval and registration costs. 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 operating 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

Pump & Dump: simply explained

The term Pump & Dump is used to explain a procedure in which the value of a share is unnaturally inflated by insiders. The same share is then sold again at a loss to other investors. This is therefore a fraud. A manipulation that profits from the ignorance of small investors and stock market novices. This approach is therefore prohibited on a controlled securities market and for providers such as

The crypto market, on the other hand, is still by and large the “Wild West” as far as such tactics are concerned. For this reason, extreme attention is required! Pump-and-dump scams are more common there in the context of the so-called altcoins. The pump and dump scam is used by criminals to inflate the value of an unknown or possibly independently created currency.

They achieve this by propagating disinformation on the WWW or in social media or by luring co-investors with unreasonable profit expectations. Therefore, make sure that the provider provides you with all essential facts on this topic.

If the broker refuses to pay out

Consumers are often wooed by a “broker” or a call centre employee as soon as they have registered on the alleged online trading platform. The intention is to encourage the investor to increase his long-term investments in order to maximise the income. This is also an initially legitimate goal of the provider Shortly after the customer has deposited his money, preliminary profit developments may be shown on his user account.

This should encourage the investor to continuously invest in the financial instrument. The operators of the trading platform, on the other hand, can use fraud software to simulate fake account changes and earnings without the consumer noticing.

Check that the accounts can also be authorised at

In reality, no trading at all takes place on quite a few platforms. Instead, the deposited money is transferred by the perpetrators to accounts outside Germany. This is not noticed by the investors at first. The “service providers” delay the disbursement of the stated profits by demanding that the investors pay allegedly due taxes and commissions. These tricks only serve the purpose of increasing profits. At some point, the connection breaks completely.

The invested capital is used up. From that point on, the only option is to go to a lawyer to launch further action.

Are the exit options questionable?

Find out at what time and how much money will be paid out. At best, avoid long-term contracts that cannot be terminated prematurely or where you would suffer high monetary losses. Conclude long-term contracts without the possibility of early termination only with service providers such as, whose reliability you have no doubts about. Even if you have the option to waive or cancel a contract at any time over a certain period of time, you should be critical.

Even if you have this coverage, you may still be vulnerable to financial loss. Make sure you know in detail how much capital you will get back if the investment goes wrong. The following rule applies to securities transactions:

Before the end of the term, find out what options you have to sell off securities.

Most of the time it is crucial to find out whether there is a liquid market for products – such as those offered by It is possible to sell share certificates via an online broker or a financial institution. All 3 options are legitimate for placing a sell order. The actual selling process is therefore carried out via an exchange (e.g. Berlin, Stuttgart, Frankfurt, Tradegate or Xetra) (e.g. for penny stocks).

With order supplements, the execution of the order can be guided from the beginning. The redemption of the share certificates takes place at a time and place determined by you.

You would like to recover your investments from Our law firm can help

You should take action as soon as possible if the suspicion is confirmed that an investment service provider is not acting correctly and there is a risk that the broker will not make its payments. Apart from a criminal complaint, which we file with the police on behalf of our clients, and a notification to the financial supervisory authority, the online broker should possibly also be held legally responsible.

In this context, the claims against the operator of the trading platform agreed in the contract as well as possible compensation options are examined. In the case of money transactions, it is also essential to check whether financial institutions can be held liable in the event of an error. Claims for compensation against banks may exist, for example, in the case of money laundering or other illegal activities.

However, this must be examined on a case-by-case basis. If your broker refuses to pay out, you should therefore immediately contact an experienced law firm:

  1. Tell us how long the broker has been delaying payment
  2. Give us the names and contact details of all the people you have spoken to
  3. Describe your experience with the provider via email

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