Popcoins – The apparent financial service provider Popcoins presents itself as a trading platform on its website https://www.popcoins.net/#/sign-in… Investments in cryptocurrencies are possible here.

You encounter complications with the distribution of your investment? Our lawyers can help you with claims against Popcoins.

Popcoins – How should the online broker be rated?

Currently, there is an extremely high number of providers such as Popcoins. This means that investing in the unpredictable financial markets has never been as easy but also as risky as it is today. Precisely because there are numerous opportunities, choosing an online platform can be time-consuming and challenging. Especially if you want it to meet your individual investment needs. Have you already invested in Popcoins? In this case, the following aspects are important for you as an investor.

  • A wide range of order types can be used when trading on the World Wide Web.
  • An ideal address for money investors who want to find out about securities, futures, binary options and cryptocurrencies is a website like this one.
  • Accessing the world’s stock exchanges becomes 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.

Evaluate providers like Popcoins correctly

Investors have a wide range of investment opportunities at their disposal, with reputable and questionable providers vying for their attention. There are many signs that a service or even a product is not reliable, and it’s weighty to keep an eye out. Here’s what to think about once you invest your hard-earned money. Banking, financial services and insurance companies like Popcoins are allowed to operate in Germany solely with state authorisation.

The companies have received authorisation, but this in no way means that the services they sell are of excellent quality. If a prospectus or information sheet approved by the German financial supervisory authority has been published in advance, securities and investments can also be made available to the general public. BaFin only ensures that prospectuses are complete, catchy and coherent. The prospectus or information sheet of Popcoins is by no means necessary in every circumstance.

Before investing capital, it is advisable to think about your long-term goals and investigate whether you have the economic means to achieve them. Do not rush the process. Before putting your assets into an investment, take time to look at the pros and cons. Do not make a decision on the spot, even if you have consulted with others.

What to do – if online brokers like Popcoins require transfers abroad?

Is it advantageous for you to transfer money to a country outside Europe? Consider in detail what you are doing. Many investors have already lost money in this context. It is conceivable that you lose track of where your money goes and how it is invested. When money was provided to a company, it happened that the company did not invest the transferred amount of money as agreed or even not at all. There were also cases where the company simply did not exist, although it presented itself accordingly like Popcoins.

Apart from the regulated service providers, there are plenty of dubious online trading websites, where a very similar procedure can be seen in most cases. New investors are contacted by employees of the respective trading platform. For example, by telephone, after the consumer has provided non-binding contact details on the trading website. In several cases, however, they are also contacted by mass e-mails. These advertise supposedly profitable investments.

The investor is quickly provided with a personal online broker who guides him or her through the creation of an online trading account and the first transfers. The investor initially feels well advised and online trading begins mainly with smaller sums. But soon larger deposits are required – very often to foreign accounts. These deposits are intended to increase the potential profits. Obstacles with dubious providers ultimately arise as soon as the investor wants a payout.

It is not uncommon for this to be withheld again and again or tied to even further deposits such as alleged taxes and brokerage commissions. Previously, the criminals merely traded from questionable locations. Now they are active from completely different places like the UK (incl. London), the Netherlands, Canada, Spain, Dubai and others. For the vast majority of people, it is challenging to expose tricky methods.

Companies often receive e-mail orders with very large order volumes that are out of proportion to the usual purchase amounts. In order to lure the German company, large promises of profits are used. However, the considerable order volume only acts as a means of pressure in talks with the provider to demand correspondingly high registration and licensing costs. It is not always possible to ascertain whether the recipient of this payment is also the purchaser of the goods.

However, it can be assumed that companies operating abroad will not have to pay local tax on shipments to other countries for the time being. Find out whether this also applies to investments in Popcoins.

Ponzi scheme – quickly explained

A pyramid scheme, or Ponzi scheme, is a type of financial fraud. In this scheme, funds are collected 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 make great returns without putting your assets at risk. Nevertheless, in many Ponzi schemes, the criminals do not actually invest the capital they receive. Rather, it is used to compensate people who paid in earlier.

This allows the perpetrators to keep some of the money for themselves. So pay attention to the risk-reward ratio in all investments – including Popcoins. Ponzi schemes need a steady inflow of new wealth to keep running, as they have little or no real income. Many of these systems fail when it becomes complicated to attract fresh investors or when a significant number of investors drop out. Assuming you want to invest with a service provider like Popcoins, you should always act with prudence. Signs to look out for include:

  • Deposits that are not registered with financial regulators. In the vast majority of cases, Ponzi schemes are unregistered investments that are not controlled by official authorities such as Bafin.
  • Risk-free returns with little or no volatility. Every investment involves a certain amount of risk, and the riskier an investment is, the more likely it is to yield a high return.
  • Selling without a licence: Investment professionals and firms must be licensed or registered under federal and state securities regulations. The vast majority of Ponzi schemes involve unlicensed people or providers.
  • The payment of winnings does not work? If you are not receiving any payments at all or are having difficulty getting paid out, you should be vigilant. The operators of pyramid schemes may try to encourage those involved to stay with the promise of even higher monetary winnings if they do not withdraw money.
  • Is there a problem with the documentation? If errors appear on your bank statement, this may be a clue that your assets are not being invested according to plan.
  • Overly predictable results. Over time, investments tend to rise and fall. Any value investment that consistently delivers positive returns detached from market conditions should be viewed with a high degree of doubt.
  • Strategies that are very difficult to identify. Keep your money out of the stock market unless you know enough about it.

Your provider refuses to distribute profits?

Buyers are often wooed by an “online broker” or call centre employee after they have set up an account on the apparent trading platform. The aim is to get the investor to increase his or her permanent investment in order to maximise the income. This is also a legitimate goal of the online broker Popcoins. Immediately after the customer has deposited his capital, the first profit developments may be shown on his account.

This should encourage the investor to continuously invest in the financial product. The platform operators, on the other hand, can use fraud software to simulate fake account changes and profits, even without the buyer noticing.

Check that accounts can be verified equally with Popcoins.

In reality, no trading takes place on many online trading platforms. Rather, the transferred assets are transferred by the perpetrators to accounts outside of Germany. This is not initially registered by the investors. The “online brokers” delay the disbursement beyond the reported income by demanding that investors pay what appear to be taxes and processing costs.

These manipulations only serve the purpose of increasing the income. Sooner or later, the contact breaks off completely. The capital paid is no longer there. From this point on, the only thing left to do is to go to a lawyer to take further action.

Exit alternatives: Clear transparency is a hallmark of reputable providers

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

Even if you have this protection, you may still be vulnerable to financial loss. Make sure you know in detail how much money you will recover if the money deal goes wrong. For share transactions, the following rule applies: Before the end of the contract period, find out what options are available to you to get rid of a security. It is usually crucial to be aware of whether there is a liquid market for products such as those provided by Popcoins. It is possible to sell shares through a broker or a financial institution.

All 3 options are legal for placing a sell order. The actual selling process is then completed via a securities exchange (e.g. Berlin, Stuttgart, Frankfurt, Tradegate or Xetra) (e.g. for penny stocks). Order supplements can be used to direct the execution of the order in advance. The sale of the shares takes place at a time and place determined by you.

Recovering Popcoins – get a law firm involved

Steps must be taken as soon as possible as soon as the suspicion is confirmed that a financial service provider is not acting conscientiously and there is a risk that the online broker will refuse to make refunds. In addition to a criminal complaint, which our law firm prepares for our clients with the criminal investigation department, and a report to the financial supervisory authority, the broker should also be held accountable under applicable law, if necessary.

This involves reviewing the contractually agreed claims against the online broker as well as any compensation options. In the case of monetary payments, it is also relevant to check whether financial institutions can be held liable in the event of an error. Claims for compensation against financial institutions can arise, for example, in the case of money laundering or other criminal acts. However, this must be examined depending on the respective facts.

As soon as your provider delays the distribution, you should immediately contact an experienced law firm:

  1. Paraphrase to our solicitors via email the experience you have had with the provider
  2. Tell us how long the broker has not paid you
  3. Give us the names and contact details of all the people you have communicated with

The Herfurtner law firm will give you a non-binding initial assessment in connection with Popcoins. In addition, we will let you know as soon as possible whether we think you have a realistic chance of getting your losses back.