Okwis – The provider https://okwisfx.com/en/ advertises itself as an online trader. On its website, clever investments in the field of foreign exchange are possible. You have invested with Okwis and would like to share your experience? The Herfurtner law firm is available for a discussion.

Okwis – How is the Forex Broker to be assessed?

Currently, there is an enormously high number of online trading platforms such as Okwis. Thus, it has never been as easy but also risky as now to invest in the unpredictable financial markets. Especially because there are so many options, choosing an online broker can be time-consuming and intimidating.

Especially if you want it to meet your personal investment requirements. Have you already invested with Okwis? In this case, the following aspects are important for you as an investor.

  • A good address for capital investors who want to enquire about shares, futures, binary options and cryptocurrencies is an online presence like this one.
  • Accessing the global financial markets becomes more convenient and lucrative for capital investors through online investing.
  • Federally regulated online brokers, reputable websites, costs and bonuses, offering options and reviews from clients are just a few of the factors you would need to consider when making your final decision.
  • When it comes to trading on the www, you can use a large number of order types.

The following information is basic advice for investors – regardless of the platform in which you invest money – and does not relate to Okwis. Rather, they are general tips on the subject of online trading.

What features do I have to watch out for as a client?

Both the financial markets and the protection of investors benefit from rules of conduct and organisational responsibilities. Bond service companies and firms like Okwis must comply with a number of regulations. The same applies to their employees. This is to avoid conflicts and related disadvantages for investors.

This includes the responsibility of the provider to inform its corporate clients about the most important features of a financial transaction before it is concluded. This applies both to the respective investor and to the investment itself.

Accordingly, additional information is needed for clients who want to engage in highly speculative or risky transactions. Providers such as Okwis have a duty of care towards their corporate clients. This goes far beyond the provision of an offer or service.

Does the service provider have a licence to distribute investment products? It is essential that you determine this. In this context, you can consult the broker check directory of a financial supervisory authority and type the name of the service provider into the search function.

What to do – if providers demand transfers abroad?

Is it beneficial for you to transfer capital abroad? Pay close attention to what you are doing. Numerous investors have already lost capital in this context. It is possible that you lose the overall view of where your funds are going and how they are invested.

When capital was provided to a broker, it happened that the company 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. Continuing the trend of the former “Nigeria Connection”, many e-mail messages from Africa (in English, so-called “scams”) are still circulating.

These target companies and private investors. Dubious enquiries are also reported from other African states. In the past, the criminals only operated from questionable locations. Nowadays, they operate from completely different locations such as the United Kingdom (including London), the Netherlands, Canada, Spain, Dubai and others.

For most people, it is costly to expose tricky methods. Companies often receive email orders with very large order volumes that are disproportionate to the typical purchase amounts. To lure the German company, they proceed with large promises of profits.

However, the considerable order volume serves solely as a means of pressure in the communication with the manufacturer in order to demand correspondingly excessive approval and registration costs.

It is not always clear whether the recipient of this payment is also the customer of the goods. Nevertheless, it can be assumed that companies that are active abroad will not have to pay regional taxes on shipments to other countries in the foreseeable future. This usually counts for investments at Okwis as well.

Recognise pump and dump and protect yourself

The term pump and dump is used to describe a situation where the market price of a share is artificially inflated by insiders. Subsequently, the same share is sold at a loss to the remaining investors. This is therefore a fraud. A fraud that profits from the ignorance of small investors and stock market novices.

This strategy is therefore not allowed in a controlled securities market and for service providers like Okwis. The crypto market, on the other hand, is still largely “Wild West” as far as such tactics are concerned. For this reason, special vigilance is required!

Pump-and-dump scams are increasingly encountered there in the context of the generally so-called altcoins. The pump and dump scam is used by fraudsters to drive up the market price of an unknown or possibly self-created currency.

They achieve this by propagating false information on the World Wide Web or on social media or by recruiting co-investors with unreasonable profit expectations. So make sure that the provider Okwis provides you with all the necessary facts on the subject, if applicable.

Identifying investment fraud in general

Do you want to invest money? In this case, you should find out all significant information about the company. Investment fraud is a special form of fraud. The criminal guarantees or pretends a profitable investment on the capital market to a larger circle of people.

Capital investment fraud is punishable by a prison sentence of up to three years or a fine, in accordance with Section 264a of the Criminal Code. The following services and measures can sometimes be considered as capital investment fraud:

  • Boiler Room Scam, a cold call seeking backers by phone call
  • Unsolicited telephone advertising calls, so-called cold calling
  • Participations in companies
  • Investments in shares, funds and certificates

Anyone who has fallen for investment fraudsters has usually invested a lot of assets. What can you do in case of investment fraud?

  1. Revoking or contesting contracts: Affected persons who have concluded a contract can revoke or contest it in the case of investment fraud.
  2. Recovering assets: If payments have been made via credit card, this can be recovered in several cases by using the services of a law firm. In the case of bank transfers from the current account, this can usually be recovered by bank order.
  3. Involve the police and financial supervisory authority through a lawyer: There are police collection procedures against certain fraudulent companies in Germany and also abroad. The police are authorised to have the bank accounts of the rip-off artists blocked and the assets seized. Likewise, the prosecuting authority is called in.
  4. Claim damages: People who have been misinformed can claim damages from the investment adviser.

Understanding Recovery Scam: The rip-off after investment scam – protect yourself

Anyone who has ever lost funds to a fraudulent investment platform knows how devastating it can be. That alone is bad enough. But in addition, the criminals behind the bogus scheme will contact you by email or phone call within a very short time. This time, however, they do not pretend to be financial advisors.

Instead, they promise to help recover the lost money in exchange for an upfront payment. Many scammers even appear to have been hired or instructed by trusted companies such as a financial regulator. After stealing your personal information, the scammers often pose as good Samaritans.

They promise to help you recover the stolen money. Even if you have invested money with a service provider like Okwis, your data may still be stolen. Those who have lost a large amount of money are usually desperate. The criminals take advantage of people’s worry by calling themselves “recovery companies”.

They offer their services under the guise of helping them recover their capital. This means they securitise in a dubious manner that they will get back the lost assets.

Getting back deposits: Lawyers help

You have invested with a provider? Now you are registering difficulties with repatriation? Then we recommend that you immediately stop additional payments. This is especially true if the trader demands additional payments to compensate for deficits. Incidentally, you should try to recover the lost capital.

In this context, affected investors can seek investor protection and contact the lawyers of our law firm. Our law firm examines civil law as well as criminal law options and possible claims for damages against the provider and against involved payment service providers such as financial institutions.

“A private investor who loses his capital in online trading is certainly not an isolated case. Many investors are misled by the professional appearance of the providers and do not realise soon enough that they are not responsible for their loss.”

Our advice is therefore not to despair, but to react swiftly and energetically. Because the prospect of recovering the lost capital is often greater than the aggrieved investors think. Would you like to talk to one of our lawyers about online and crypto trading? Then click here to go directly to our contact page.