Roicraft – The online broker claims to be a financial service provider on its website https://roicraft.co/, which is active in the field of online trading. Accordingly, investors can speculate on possible profits.
In April 2022, BaFin issued a warning notice. The provider did not have a licence for its services.
You encounter difficulties with the distribution of your investment? Our lawyers can help you with claims against Roicraft.
Roicraft – Broker Experience
Currently, there is an extremely high number of providers such as Roicraft. As a result, investing in the unpredictable financial markets has never been as easy, but also as risky, as it is today. Especially because there are so many opportunities, choosing a financial service provider can be time-consuming and frustrating. Especially if you want them to meet your personal investment needs.
Have you already invested with Roicraft? If so, the following points are important for you as an investor.
- Access to the international stock exchanges is becoming easier and more interesting for investors through online investments.
- When trading online, you can choose from a variety of order types.
- A good place to start for investors who want to learn about shares, futures, binary options and cryptocurrencies is a website like this one.
The following information is basic advice for investors – regardless of the platform you invest in.
Evaluating Roicraft correctly: Characteristics of reputable trading providers
The following considerations should be taken into account when looking for opportunities to invest your assets on the internet:
- Quality seals are often used by fake shops to pretend that they are reputable. To see if there is a link to the seal of approval website and if the shop is mentioned there, click on the image of the seal. It is quite possible that the owner of the website has merely copied the seal from another internet site and transferred it to his own homepage without the appropriate certification.
- Financial service providers such as Roicraft must be licensed in Germany by the Federal Financial Supervisory Authority (BaFin). The BaFin’s company database contains information on licensed service providers.
- In Germany, the imprint must contain an address, the contact details of an authorised representative of Roicraft and a telephone number.
- It can be very useful to find out what other consumers say about a potential service provider, even if it is only on the net.
Have you received email offers from Roicraft?
Have you ever received investment proposals by e-mail from a provider such as Roicraft that you are not aware of? Do you receive faxes from the stock exchange that you have by no means requested? Or have you received an apparent “insider tip”? Investors should beware of such tips, because they are often spread by dubious persons or companies who want to profit from a false success story by selling securities.
Cases have also become known in which consumers and buyers are contacted by an alleged stock exchange supervisory authority. It is falsely stated that the people written to have become victims of a fraud and that the respective data have been passed on to the stock exchange supervisory authority by the alleged Federal Public Prosecutor’s Office in Karlsruhe.
The persons written to are required to fill out a web form. This is a clear attempt at fraud. We advise you not to communicate with this person or to share personal information such as user names, passwords, credit card numbers or other identifying information, e.g. your Roicraft account data.
The grey capital market: recognising reputable offers
Only a small proportion of financial market participants such as Roicraft are subject to official regulation and control. In the grey capital market, financial service providers operate who do not need a licence from BaFin and only have to fulfil some regulatory basics. Only invest in the grey capital market if you are certain of the company’s creditworthiness and know it as a company.
As already noted, the Federal Financial Supervisory Authority has no control over these providers. The grey capital market holds a wealth of opportunities. There are:
- Participation rights and other hybrid bond forms
- Direct investments such as in timber, precious metals or other commodities
- Corporate investments
- Crowdfunding offers
- Loans with subordination clauses
One thing is certain: it is unclear how it will ultimately turn out for the investor.
Is it difficult for you to keep track of the advertised offer? If so, you should find out as much information as possible before making a decision. Don’t buy anything you don’t fully understand! When it comes to investments, the more expertise you need, the more complicated the product.
It is also not advisable to put all your capital on one horse. Diversify your risk beyond Roicraft. To avoid being wrongly influenced, it is advisable to always focus on the product itself and not on the brand name or reputation of the financial service.
Check advertisements for online trading platforms for seriousness
A variety of capital goods exist on questionable online trading platforms, which are aggressively advertised in forums and social networks in order to convince investors. In addition, “network marketing” is used to attract new investors. In particular, the promise of short-term profitability is emphasised in the advertising.
In order to start investing, an interested buyer must first of all create a user account with the trading platform – as is the case with Roicraft. Then the apparent brokers contact the investor via a call centre and do everything they can to convince him to invest large sums of money. The optimistic attitude of investors towards cybertrading is partly reinforced by the desire for future profits.
Clients are more willing to invest in the future if they see exactly the kind of results they hope for. At this stage, investors are being hoodwinked by a corrupted trading algorithm about the true trend in stock market data and prices. Roicraft does not necessarily fall into this category. The perpetrators use their own biased price values when calculating returns.
As a result, the service provider has complete control over whether or not a profit is made. Until the alleged returns are paid, this deception will continue. When the moment of distribution arrives, the clients suddenly no longer have access to their accounts and the direct contacts associated with them. The majority of investors lose their assets fully invested in this illegal trade, forcing them to call in a lawyer.
How high is the order commission for online trading?
Before investing with Roicraft, find out how much of your investment amount is used to cover costs, fees and commissions. This is a useful time to take a close look at the information provided by the providers! Investors must be made aware of all fees charged and their impact on the profit margin of financial service providers. In addition, remuneration must be itemised.
Should you request a presentation of any costs, the providers are obliged to give you this info. A service provider such as Roicraft is normally interested in as many trading transactions as possible for understandable reasons. In quite a few cases, the fees are so high that it is difficult to make a profit. The fees can even devour the invested assets in a short time.
Therefore, be sure to take the costs into account! The broker’s trading fees must be publicly available. The transparency of the cost structure is also stipulated in the official requirements and regulations. In connection with a violation, the service provider’s regulatory licence can be revoked.
Deposits recovered from Roicraft: Lawyer helps
Precautions must be taken as soon as possible if the suspicion that a financial service provider is not acting conscientiously is confirmed and there is a risk that the online broker will delay its withdrawals. Apart from a criminal complaint and a notification to the financial authorities, the provider should possibly also be held accountable under applicable law.
This involves reviewing the claims against the financial service provider agreed in the contract and any chances of compensation. In the case of financial transactions, it is also relevant to check whether banks can be held responsible in the event of an error. Claims for compensation against banking institutions may exist, for example, in the case of money laundering or other illegal activities.
However, this must be examined on a case-by-case basis. If your online broker delays the distribution, you should contact a competent law firm immediately:
- Describe the facts of the case to our lawyers by email
- Let us know how long the provider has not paid you
- Provide us with the names and contact details of all the people you have spoken to
The Herfurtner law firm will provide you with a non-binding initial assessment in connection with Roicraft. In addition, we will let you know as soon as possible whether we think you have a realistic chance of recovering your losses.