PrivéTrader seems to be or have been a company specialized in trading crypto currencies or Bitcoins. At least that’s the information you can find on the provider’s Instagram profile. The company’s homepage was no longer accessible at http://www.privetrader.com/ at the time of writing (May 2020).
On its own Instagram profile PrivéTrader describes itself as a “Forex Company” or as a platform for Bitcoin Trading. The last entry on the page is dated November 28, 2017. Concerned customers who were contacted by telephone by advisors of the provider PrivéTrader contacted the law firm Herfurtner Rechtsanwälte.
Trades with PrivéTrader may be subject to high losses, investor protection lawyers are alerting. Investors should consider additional deposits or at least have a detailed assessment carried out.
PrivéTrader – Lawyers are helpful
Do you want to discuss with a legal representative and find out what legal measures you can take? Then contact the law firm Herfurtner Rechtsanwälte. The law firm advises investors seeking investor protection and is also active in competition law, industrial property rights, capital market law or investment law.
The lawyers are contact persons for investors based all over Europe. Would you like to arrange an appointment with us? Click here to contact us.
State Regulation and Authorization of PrivéTrader
Statements about approval and supervision by a state European supervisory body are nowhere to be found on the web. Therefore, it cannot necessarily be assumed that the company owns or has held the necessary permits required for economic activity in Europe.
What Companies like PrivéTrader aim for
Yields have been at record lows for some time. This poses an increasing challenge for investors to research higher-margin investment opportunities.
Investors are therefore looking for interesting alternatives and often come across supposedly safe products with incredible payouts. If one then ignores reason, it can happen that the dream of fast money is shattered and the investor is rudely brought back down to earth.
PrivéTrader is a Service Provider from abroad – what does this mean for the Investor?
The liberalization of world trade has unmistakable consequences for the investment industry. International markets are easily accessible, and digitization also makes them easier to access. As a result, numerous companies – including those from abroad – are entering the market to warm up investors for their services.
An engagement with a provider outside the national borders can have negative consequences if difficulties arise with the investment. This is due on the one hand to conceivable language barriers, and on the other hand to distance, which complicates a personal conversation.
Where potential Risks lie and how Investors can protect themselves
An ostensible consultant contacts you by telephone? He recommends you to buy financial assets at a preferential price or wants to inform you about a new fund? However, a personal contact with the employee does not take place at any time? Such a circumstance should make investors suspicious.
Before investing with a company like PrivéTrader, you should always assess whether the contractual partner is subject to official supervision, e.g. the BaFin (German Federal Financial Supervisory Authority). An inquiry with the authorities would possibly reveal that a service provider may not have a licence.
Special care is also required if an employee is expecting unusually high returns.
The chances are enormous, while the possible pitfalls are almost never or not at all described. One should also be attentive when dealing with foreign companies. If you are not sure about the approach of a trader, it is best to contact a specialized lawyer quickly.
Some providers offer promises of returns that probably have little to do with reality. The possibilities are great, but risks are hardly or not at all discussed. In some cases, the immediate conclusion of the contract should be made palatable to you by certain advantages.
The promise of extremely high returns may indicate that your capital is not really to be managed reliably. But it is without question an extremely risky investment. The hypothetical possibility of realizing high profits does exist. Nevertheless, there is a massive risk of total loss of the investment.
Sometimes the prompt conclusion of a deal should be sweetened by certain advantages. Presumed preferential conditions or the securing of tax advantages are a common argument. This is to deprive investors of the opportunity to reconsider their investment.
Problems with PrivéTrader? What Private Investors can do
Have you had bad experiences with an investment? If you have suffered losses, you should first and foremost stop additional payments and contact the provider to find out the causes.
Discussions with the contractual partner are not always productive if problems arise. If you are not making progress with your request, it may be advisable to consult a lawyer.
Support in Disputes
The lawyers of our firm serve clients from Germany, Austria, Switzerland and other countries in Europe, some of whom have suffered heavy losses through investments abroad. Would you like to find out more about your legal options in connection with PrivéTrader? Then please click here to go directly to our contact area.