Quova – The alleged investment service provider Quova presented itself on its website https://quova.io/ as a financial service provider. The homepage is currently offline. You have invested with Quova and want your money back? The law firm Herfurtner will help you in case of difficulties.
Quova – BaFin issues warning about platform
Currently, there is an extremely high number of providers such as Quova. As a result, investing in the unpredictable financial markets has never been as easy but also as risky as it is now. Especially because there are so many options, choosing a provider can be time-consuming and challenging. Especially if you want them to meet your personal investment needs.
Are you thinking about investing with Quova? Then the following points are important for you as an investor.
- An optimal place for investors to start inquiring about stocks, futures, options and cryptocurrencies is a website like this one.
- Officially licensed brokers on the internet, reputable websites, costs and commissions, product options and customer feedback are just some of the criteria you would need to consider when making your final decision.
- Access to the international stock markets is becoming more convenient and interesting for investors through online investments.
The following information is general advice for investors – regardless of the platform you invest in.
Potential dangers in online trading – also with Quova?
Just as the stock exchange and other financial markets are subject to certain risks and dangers, so is online trading. As an investor, you should therefore check Quova with regard to the following topics:
- Insufficient knowledge about the product
- Service providers that are dubious
- Risks associated with the corresponding offer, e.g. conceivable loss-making transactions
- Risks that arise from incorrect or incompetent trading
- The risks of online security
Reduce risk by looking at a verified track record when choosing a trading service. In this context, it is equally important that you are guaranteed reliable money management. This is the only way you can be reasonably safe in the internet trading arena. Capital investors who have a deft touch may very well profit from this, and their profits may be super-average. As long as they have the right approach.
One thing should be clear to anyone starting out in trading: The danger of losing more money than deposited into the bank account of the online broker Quova when trading on the stock exchange is always present.
Does Quova require quick action when investing?
Do you feel the pressure of a tight deadline? Is the provider tempting you with a special offer, but you are under pressure to make a decision quickly? This is certainly not an excellent idea, because it is usually a ruse. Don’t rush into anything! Not only can you get serious offers now, but you can also invest with Quova in the future. To get to their goal, scammers know in detail what they have to do.
They strive to get as much information as they can about their targeted person through cleverly worded enquiries. In addition, they ask about the other person’s constitution, for example whether he or she is home alone or has assets at home. Furthermore, they play a game of “wait and see” to tire the person out.
They can keep their counterpart on the phone for a very long time until he agrees to go to the financial institution and give the criminals money and additional valuables. In one such scam, time pressure is imposed on the victim. With this very tactic, the injured party is pressured into not heeding his own vigilance. Current support scams use the same method.
Since the PC of the person contacted is presumably infected by an extremely complex virus, the callers, who are presumably acting on behalf of Microsoft or a service provider such as Quova, demand urgent payment of a maintenance contract in English with an Indian accent. The scammers increase the pressure by threatening the targeted individuals to make them pay if their PC is infected and transmits the infections.
Pump & Dump: How does the scam work?
The term pump & dump is used to describe a situation in which the market price of a share is unnaturally inflated by insiders. Afterwards, this share is sold again at a loss to the other investors. This is therefore a fraud. A deception that profits from the cluelessness of small investors and stock market novices. This approach is therefore not allowed in a controlled stock market and for service providers such as Quova.
The crypto market, on the other hand, is still by and large the “Wild West” as far as these tactics are concerned. Because of this, extreme vigilance is necessary! Pump-and-dump scams are increasingly common there in connection with the well-known altcoins. The pump-and-dump scam is used by fraudsters to drive up the price of an unknown or possibly independently created currency.
They achieve this by propagating disinformation on the internet or on social media or by luring co-investors with unreasonable profit expectations. So make sure that the provider Quova provides you with all the necessary information on this topic.
Investment fraud at a glance
You want to invest capital with Quova? In this case, you should find out all the important facts about the company. Investment fraud is a special form of fraud. The criminal promises or deceives a larger circle of people about a profitable investment in the capital market. Capital investment fraud is punishable by a prison sentence of up to three years or a fine, in accordance with § 264a StGB.
The following services and strategies may be considered as capital investment fraud:
- Participations in share certificates, funds and certificates
- Fraudsters use the brand name of the provider Quova and clone the company
- Boiler Room Scam, a cold call seeking investors by phone call
- Unsolicited telephone advertising calls, so-called cold calling
Those who have fallen for investment fraudsters have often invested a lot of financial resources. What can you do in case of investment fraud?
- Involve the police and financial supervisory authorities through a lawyer: Police collection procedures exist against specific fraudulent companies in Germany and also abroad. The police are entitled to have the accounts of the fraudsters blocked and the money confiscated. In addition, the public prosecutor’s office becomes active.
- Retrieving funds: If payments have been made via credit card, this can be retrieved in many cases by ordering a law firm to do so. In the case of transfers from the current account, this can often be recovered by bank order.
- Withdraw or contest contracts: Affected persons who have concluded a contract can withdraw or contest the same in the case of investment fraud.
- Claim damages: People who have been advised incorrectly can claim damages from the investment advisor.
Brokerage fee: Pay attention to transparent information in good time
Before investing with Quova, find out how much of your investment amount goes to cover costs, fees and commissions. This is a good time to look in detail at the disclosures provided by service providers! Investors must be notified of all costs included and their effect on the return from financial service providers. Furthermore, remuneration must be listed separately.
If you request a breakdown of the individual fees, the investment service providers are obliged to provide you with this information. For obvious reasons, an online broker like Quova 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 fees can even eat up the invested assets in a short time. Therefore, be sure to pay attention to the costs!
The broker’s trading fees must be available to everyone. The transparency of the cost structure is also stipulated in the legal requirements and licensing. If there is a violation, the service provider’s licence can be revoked.
Repaying investments with Quova: Increase your prospects
Steps must be taken as soon as possible if the suspicion is confirmed that an investment service provider is not acting in accordance with the regulations and there is a risk that the online broker is delaying its payouts. In addition to a report filed by our lawyers on behalf of our clients with the police authority and a notification to the financial supervisory authority, the broker should also be held responsible under applicable law, if necessary.
This involves assessing the claims against the online broker agreed in the contract as well as possible compensation options. In the case of financial transactions, it is equally relevant to examine 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 fraudulent acts.
However, this must be checked depending on the context at hand. If your broker refuses to make a distribution, you should contact a reliable law firm immediately:
- Tell us how long the provider has not paid
- Give us the names and contact details of anyone you have been in contact with
- Discuss the facts of the case with our solicitors via email
Herfurtner Law Firm will provide you with a free initial assessment in relation to Quova. We will also let you know promptly whether we think you have a real chance of recovering your losses.