Monero Markets – The provider https://moneromarkets.com/de/home-de/ advertises itself as an online broker. On its domain ingenious investments in the field of Forex and CFDs are possible.
You encounter complications with the payout of your investment? Our lawyers can help you with claims against Monero Markets.
Monero Markets – safe trading with high leverage?
Currently, there is an enormous number of investment service providers such as Monero Markets. As a result, investing in the volatile financial markets has never been as easy but also as unsafe as it is now. Because there are so many options, choosing an online platform can be time-consuming and daunting. Especially if you want it to match your individual investment plans. Are you considering investing with Monero Markets? In this case, the following points are relevant for you as an investor.
- An ideal place to start for money investors who want to inquire about stocks, futures, binary options and cryptocurrencies is a web presence like this one.
- Entry to cross-border exchanges is becoming more convenient and lucrative for investors through online investing.
- State-licensed brokers on the internet, reputable websites, fees and brokerage charges, product options and customer feedbacks are just selected factors you would need to consider when making your final decision.
The following are basic suggestions for investors – regardless of the platform you invest in.
Are providers like Monero Markets credible?
Investors have a wide range of investment options at their disposal, with reliable and questionable providers vying for their favour. There are many signs that a service as well as a product is not reliable and it is crucial to have a focus on this. Here’s what to look out for in the event you invest your hard-earned capital. Banking, financial services and insurance companies like Monero Markets are only allowed to operate in the FRG with government approval.
Although the providers have obtained a licence, this does not mean that the services offered are of good quality. In the event that a prospectus or information sheet approved by BaFin has been published in advance, derivatives and investments may likewise be made available to the general public. BaFin’s sole responsibility is to ensure that prospectuses are complete, plausible and coherent. The prospectus or information sheet of Monero Markets is by no means necessary in every context.
Before investing money, it is advisable to think about your sustainable expectations and check whether you have the financial means to achieve them. Do not rush the process. Before putting your money into an investment, take time to weigh the pros and cons. Do not make a choice immediately, even if you have consulted with others.
Have you made a trial investment with Monero Markets?
Is Monero Markets persuading you to try out investing with a smaller amount? Can’t find any details about the financial services provider because it is supposedly a new company with exciting business ideas? The probability is high that the investment secret tip is pure rip-off. After a very short time, the service provider will tell you that your investment was a huge success and ask you to increase your investment. The success of your trial investment may lead you to make additional investments.
Here are some examples of dubious investment tips: “With just five minutes of your time you can become a self-made billionaire” , “With the automatic share profit method you will make 3500.00 € in a calendar month!” , “Would you like to convert €1000 into €250,00.00?” Anyone who promises too much, and that too unsolicited, is rarely trustworthy! So also examine what offers and promises are made to you by the financial service provider Monero Markets.
Pump & Dump: What is behind the term?
The term pump and dump is used to describe a procedure in which the value of a share is unnaturally inflated by insiders. Afterwards, the same share is sold at a loss to other investors. This is therefore a fraud. A trickery that profits from the ignorance of small investors and stock market novices. For this reason, this tactic is illegal in a controlled securities market and for service providers such as Monero Markets.
The crypto market, on the other hand, is still by and large “Wild West” as far as these same tactics are concerned. That is why special attention is needed! Pump-and-dump scams are more common there in the context of the commonly referred to altcoins. The pump-and-dump scam is used by criminals to drive up the price of an unknown currency or one they may have created themselves.
They achieve this by propagating false information on the internet or on social media or by luring co-investors with unreasonable profit expectations. So make sure that the provider Monero Markets provides you with all the necessary facts on this complex of topics, if applicable.
Online broker demands taxes and even more remittances?
Investors are often wooed by an “online broker” or a call centre employee the moment they have registered on the alleged trading platform. The aim is to get the investor to increase his long-term investments in order to maximise profit. This is also a legitimate goal of the service provider Monero Markets. Shortly after the buyer has transferred his capital, any preliminary profit developments are displayed on his account.
This should motivate the investor to invest in the financial instrument on an ongoing basis. The operators of the trading platform, on the other hand, can use fraud software to simulate false account movements and earnings without the buyer noticing.
Make sure that accounts can also be verified with Monero Markets.
In practice, no trading takes place at all on several online trading platforms. Rather, the assets paid are forwarded by the fraudulent brokers to accounts outside Germany’s borders. This is not noticed by the clients for the time being. The “financial service providers” delay the payout beyond the stated monetary gains by demanding that the investors pay what appear to be taxes and processing costs.
These manipulations only serve the purpose of increasing profits. At some point, the connection breaks down completely. The money transferred has been used up. From that moment on, the only thing left to do is to go to a lawyer to take the necessary steps.
How high are the order fees for online trading?
Before investing with Monero Markets, find out how much of your investment amount goes to cover costs, fees and commissions. This is a good time to take a thorough look at the info provided by the service providers! Investors need to be made aware of all costs charged and their impact on the profit margin of investment service providers. In addition, remuneration must be itemised. If you request a breakdown of all costs, providers are obliged to give you this information.
For obvious reasons, an online broker like Monero Markets is usually interested in as many trading transactions as possible. Often the fees are so enormous that it is difficult to make a profit. The costs can even eat up the invested capital in a short time. Therefore, be sure to pay attention to the costs! The commission fees of the online broker must be visible to everyone. The clarity of the cost structure is also specified in the official rules and regulations.
If there is a violation, the provider’s regulatory approval can be withdrawn.
You want to get your money back from Monero Markets? Our law firm can help
In order to be able to assess whether you have a repayment claim against the online broker Monero Markets, it is necessary to examine the individual case without exception. The lawyers of the Herfurtner law firm will do this for you in the context of a free initial consultation. The starting point for this review is always the facts of the case as explained by you. In addition, similarities to similar cases can often be drawn. You therefore benefit from the extensive experience of our lawyers.
After the complete evaluation of all documents and the legal classification, the action is first and foremost directed against the service provider Monero Markets itself, should corresponding breaches of duty be ascertainable. In order to be able to prove these breaches of duty, the contract documents, the email communication and possibly other documents must be examined. Furthermore, regulated online trading providers are also obliged to make and archive telephone records of conversations with customers.
The demand for the release of this documentation and the subsequent examination is also a sensible and necessary step in the enforcement of your claims. With the help of this evidence, investors’ demands 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 in this context.
Due to the fact that the sums of money involved are often considerable, the question arises again and again as to whether the institutions have fulfilled 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 considered. The same applies to the beneficiary on the receiving side, who in many cases is not identical with the service provider itself.
Under certain circumstances, claims may also be brought against the service provider if breaches of duty can be proven.
After all options under civil law have been exhausted, there is still the option of proceeding under criminal law if the initial suspicion of a criminal offence is substantiated. This requires contacting law enforcement agencies at home and abroad and coordinating further steps.
Many federal states have established special units for online fraud offences and crypto trading. The lawyers of the Herfurtner law firm are in constant contact with these units. Last but not least, providers can also offer valuable information on the owner of the internet address. However, it is extremely difficult for someone inexperienced to contact the web hosts, which are often based abroad.
Likewise, financial supervisory authorities in Germany and abroad are practical contact points for investors who have suffered losses. Apart from filing a complaint against the provider in question, which should prevent further potential customers from investing money, additional details can probably be obtained via the financial authorities as providers of information. This information often allows investigations in Germany, Austria and Switzerland to be linked.