Primeinv – On its website https://primeinv.co/, the provider claims to be a financial service provider that is active in the currency, index, stock and commodity markets. Accordingly, investors can trade in more than 200 instruments.

If you have invested capital with the financial service provider Primeinv and are now experiencing difficulties with repayment, our lawyers can advise you throughout German-speaking countries.

Primeinv – Broker at a glance

Currently, there is an extraordinarily high number of online trading platforms such as Primeinv. This means that it has never been so easy, but also risky, to invest in the volatile financial markets. Precisely because there are countless options, choosing a broker can be time-consuming and frustrating. Especially if it is to meet your personal investment needs. Are you thinking about investing with Primeinv?

Then the following points are weighty for you as an investor.

  • Licensed online brokers, reputable providers, fees and bonuses, product options and client reviews are just some of the features you should consider when making your final choice.
  • An ideal place to start for investors who want to learn about stocks, futures, binary options and cryptocurrencies is a web presence like this one.
  • Entry to cross-border exchanges becomes more convenient and interesting for money investors through online investing.
  • There are many types of orders that can be used in online trading.

The following are basic tips for investors – regardless of the platform you are investing in.

Primeinv Checklist: Assessing online trading providers correctly

The following list serves to protect you from online trading platforms with fraudulent intentions.

  • Is there a complete imprint on the web presence?
  • Identity theft is a problem: Please do not provide a copy of your photo ID. Criminals often ask you to do this.
  • Inform yourself as detailed as possible about the provider and the goods you want to buy (search engines, blog entries, online card services).
  • Do not accept unsolicited investment recommendations from strangers via advertisements on the phone or emails.
  • Is a provider like Primeinv listed in the company database of the specific EU supervisory authority?
  • Do not use remote access software that gains access to your terminals.
  • Is the trading provider Primeinv a company licensed by the Federal Financial Supervisory Authority or in another EU state?
  • Don’t be fooled by promises of extremely high returns without the risk of losing money.
  • Ask yourself: What is the name of the contact person I should get in touch with?
  • Where is the company’s head office?

Investing capital with Primeinv? Do not make hasty decisions

Do you notice the pressure of a tight deadline? Is the provider tempting you with a special offer, but you are under pressure to make a choice right away? This is certainly not an ideal idea, because it is usually a ruse. Don’t rush into anything! Not only can you get excellent offers now, but you can also invest with Primeinv in the future. To achieve their goal, criminals know in depth what they have to do.

They try to obtain as much information as possible about their target by asking well-worded questions. Furthermore, they ask about the circumstances of the interlocutor, for example whether he or she is home alone or whether he or she keeps capital at home. On top of that, they use a tactic of “wait and see” to make the person desperate.

They can keep their counterpart on the phone for a very long time until he or she agrees to go to the credit institution and hand over cash and other valuables to the criminals. In one of these scams, a deadline pressure is imposed on the injured party. With such a method, the aggrieved person is urged to disregard his own caution. New support scams use the same method.

Since the computer of the person contacted is allegedly infected by a very extreme computer virus, the callers, presumably acting at the behest of Microsoft or such a service provider as Primeinv, demand in English with an Indian accent the urgent repayment of a maintenance contract.

The criminals add to the stress by threatening to make the targeted persons pay if their computer is infected and transmits the infections.

Grey capital market – what is it?

Only a few of the financial market participants, such as Primeinv, are subject to official regulation and control. In the grey capital market, service providers trade who do not even need a licence from BaFin and only have to comply with a few regulatory basics. Only make an investment in the grey capital market if you are sure of the company’s solvency and it is known to you as a company.

As I said, the Federal Financial Supervisory Authority has no control over these providers. The grey capital market holds a wealth of options. There are:

  • Company investments
  • Crowdfunding offers
  • Direct investments such as in timber, precious metals or other commodities
  • Ordinary bonds
  • Profit participation rights and other hybrid forms of bonds

One thing is certain: it is uncertain what the final outcome will be for the investor. Do you find it difficult to get an overview of the financial product on offer? If so, you should gather as much information as you can before making a decision. Don’t buy anything you don’t fully understand! When it comes to financial transactions, the more experience you need, the more complex the financial instrument.

It also doesn’t make sense to concentrate your entire capital on one product. Spread your risk beyond Primeinv. To avoid being influenced to your disadvantage, it is advisable to always focus on the product itself rather than the name or presentation of the financial service.

Investment fraud at a glance

You want to invest capital with Primeinv? Then you should find out all the important details about the company. Investment fraud is a special form of fraud. The perpetrator promises or deceives a larger circle of people about a lucrative investment in the capital market. True to § 264a StGB, capital investment fraud is sanctioned with a prison sentence of up to three years or a fine.

Sometimes subsequent products and tactics can be considered as capital investment fraud:

  • Boiler room scam, a cold-calling scheme in which investors are sought by telephone call
  • Unintentional telephone advertising calls, so-called cold calling
  • Investments in securities, funds and certificates
  • Criminals use the brand name of the provider Primeinv and clone the company

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

  1. Involve the police and financial authorities through a lawyer: Police collection procedures exist against specific fraudulent companies in the FRG and also in other countries. The criminal investigation department is authorised to have the criminals’ accounts blocked and to keep the money safe. In addition, the public prosecutor’s office is called in.
  2. Assert claims for damages: Persons who were not correctly informed can assert claims for damages against the investment advisor.
  3. Withdraw or contest contracts: Affected persons who have concluded a contract can revoke or contest it in the case of investment fraud.
  4. Retrieve capital: If payments have been made via credit card, this can be retrieved 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.

Duty to inform about commissions and costs

Before investing with Primeinv, find out how much of your investment amount is used to cover costs such as fees and commissions. This is a good time to thoroughly check the information provided by the service providers! Investors must be made aware of all estimated costs and their effect on the return from investment service providers. In addition, the costs must be listed individually.

Assuming that you request a presentation of all fees, the financial service providers are obliged to give you this info. A broker like Primeinv is usually interested in as many transactions as possible for understandable reasons. In quite a few cases, the costs are so exorbitant that it is difficult to make a profit. The costs can even devour the invested capital in a very short time.

Therefore, be sure to pay attention to the costs! The broker’s trading fees must be accessible to everyone. The clarity of the cost structure is also specified in the official regulations and licensing. In the event of a violation, the provider’s official licence can be withdrawn.

Refund of investments with Primeinv: Increase your prospects

If you have already made investments with Primeinv and would like to get them back, there are different ways to proceed.

  1. If an analysis by our lawyers comes to the conclusion that the financial service provider has probably acted unfairly, we file a criminal complaint with the responsible criminal authorities on behalf of our client. The Herfurtner law firm is in constant dialogue with public prosecutors’ offices that conduct investigations throughout Germany. Often there are hundreds or even thousands of aggrieved investors in these criminal proceedings. The investigations also repeatedly extend to other EU countries. In recent years, the public prosecutor’s offices have had several major successes in their investigations.
  2. It is often possible to work out a solution to the problem with the service provider himself. In many cases, our lawyers can reach out-of-court settlements with the platforms. Our clients then get their entire deposit or a share of it back.
  3. If the operators are arrested, claims of the investors who have suffered losses can be asserted in court proceedings. For this purpose, we take our clients through the so-called adhesion procedure. In this way, we can obtain court titles for our clients against the providers. In many cases, these can then be immediately enforced against the money seized from the fraudsters.
  4. If there is a suspicion that the accounts to which our clients have transferred money are part of a money laundering scheme, it is possible to have these bank accounts blocked. Payments into these accounts can then be reclaimed from the receiving bank.
  5. If transactions have been carried out abroad, the authorities and banks abroad should be informed. As a result, they usually initiate their own investigations. This also serves the purpose of securing sums of money in the accounts and subsequently repaying them to our clients.