SmartBullMarket – The alleged financial service provider SmartBullMarket presents itself on its website https://smartbullmarket.com/ as an online broker.
If you have invested with SmartBullMarket and there are problems with the payout, the lawyers of the Herfurtner law firm are there to help you in word and deed.
SmartBullMarket – safe trading with high leverage?
Currently, there is an extraordinarily high number of online trading platforms such as SmartBullMarket. Thus, it has never been as easy but also risky as now to invest in the volatile financial markets.
Especially because there are a lot of options, choosing a provider can be time-consuming and frustrating. Especially if it is supposed to correspond to your individual investment ideas.
Are you considering investing with SmartBullMarket? In this case, the following aspects are relevant for you as an investor.
- Licensed brokers on the internet, trustworthy provider websites, costs and bonuses, offer options and ratings are just some of the points you should plan for in your final choice.
- An ideal address for money investors who want to learn about securities, futures, binary options and cryptocurrencies is a website like this one.
- Access to the world’s stock exchanges becomes more practical and interesting for investors through online investing.
The following information is general suggestions for investors – regardless of the platform you invest money in.
Is SmartBullMarket safe? Recognising reputable trading providers
The following thoughts should be considered when looking for options to invest your capital online:
- Seals of approval are often used by fake shops to suggest that they are reputable. To see if a link leads to the seal of approval website and if the shop is also mentioned there, click on the image of the seal. It is quite possible that the provider of the homepage has simply copied the seal from another website and transferred it to his current website without the adequate certification.
- It can be very useful to clarify what other consumers are saying about a potential provider, even if it is only on the web.
- Financial service providers such as SmartBullMarket 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 include an address, the contact details of an authorised representative of SmartBullMarket and a telephone number.
Surprise calls from the broker SmartBullMarket?
Have you ever received a call from a stranger who presented you with an offer? Do not answer under any circumstances.
Unwanted calls are not allowed. “Cold calling” is expressly forbidden at securities service providers and other firms such as SmartBullMarket.
There are also groups that pretend to work for trustworthy internet trading platforms. In this way, they want to get people to provide them with their personal data. With all regularity, you are instructed to deposit more assets after your first payment.
Phone scammers are always coming up with new ways to deprive investors of their savings, cash and other valuables. A common method used by the lawbreakers is to call the people they want to harm at inconvenient times of the day. This is, for example, very early in the morning or very late at night. Times, in other words, when they are most vulnerable.
In addition, the criminals pretend at the beginning of the conversation that they and the person being called know each other. The other method works as if the callers are friendly. In this way, the criminals give the person they are talking to on the phone a feeling of goodwill and trust. Check whether you are really dealing with the SmartBullMarket company when they call you.
Dangers of pyramid schemes
A pyramid scheme, or Ponzi scheme, is a type of money fraud. In this, assets are collected from new investors and then used to pay out money to the former victims.
The masterminds of Ponzi schemes often claim that they will invest your capital and achieve exorbitant profits without risking your money. All the same, in many Ponzi schemes, the criminals do not actually invest the capital they receive.
Instead, it is used to pay off people who have previously paid in. In this way, the criminals can keep some of the capital for themselves. So pay attention to the risk-reward ratio with all investments – also with SmartBullMarket.
Ponzi schemes need a continued inflow of fresh assets to keep running, as they have little or no real profits. Many of these schemes fail when it becomes difficult to attract fresh investors or when a significant number of investors drop out.
In the event that you wish to invest with a broker like SmartBullMarket, you should always act with prudence.
Among the clues you should look out for are:
- Selling without a licence: Investment professionals and firms must be licensed or registered, true to federal and state securities regulations. The vast majority of Ponzi schemes involve unlicensed individuals or providers.
- Is there a problem with the documentation? If there are errors on your account statement, it may indicate that your assets are not being invested properly.
- The payment of returns is not working? If you are not receiving any payments or are finding it difficult to cash out, you should be on your guard. Ponzi scheme operators may try to encourage participants to stick it out with the promise of even greater returns if they don’t withdraw money.
- Strategies that are not easy to spot. Keep your money out of the stock market unless you know enough about it.
Cybertrading: Things to know for investors
Conventional investment fraud is carried out using well-known methods such as advertising, “cold calling” or stock market letters.
When it comes to fraud, the old-fashioned approach quickly becomes obsolete in the digital age. The current type of financial fraud can be described as “cybertrading”. Financial products are traded here with dishonest intent via the Internet.
Unfair financial investments include investment products such as contracts for difference and virtual currencies. Even the services of SmartBullMarket have been used by other service providers in a comparable way to hoodwink investors.
Investors increasingly inform themselves about investment opportunities on the web. In this way, people rely on their individual know-how or on the advice of others in weblogs, forums and other online portals when making decisions.
The shift to ever new financial products has no lasting effect on criminal activities in terms of organisational structure. Since the criminal crime rings rely on already existing and widely recognised infrastructures, there is no need to switch to a new “business model”. Regardless of what financial instrument is being traded, the process of cyber trading is largely congruent.
These investment products are aggressively advertised in social media or with affiliate marketing. The focus is almost exclusively on the illustration of astronomically high monetary gains. Calculate the probability of earning high profits with SmartBullMarket before investing capital.
Online Trading: Be sure to plan for costs and commissions
Before investing with SmartBullMarket, find out how much of your investment amount will be used to cover costs such as fees and commissions. This is a good time to thoroughly check the info provided by the service providers!
Investors must be informed about all calculated costs and their influence on the profit margin of investment service providers. In addition, remuneration must be listed individually.
As soon as you request a detailed overview of the individual fees, the financial service providers are obliged to provide you with this information.
An online broker like SmartBullMarket is usually interested in as many transactions as possible for understandable reasons. Very often the fees are so high that it is difficult to make a profit. The fees can even eat up the invested money in a short time.
Therefore, be sure to pay attention to the costs! The broker’s commission fees must be publicly available. The transparency of the structure of the costs is also stipulated in the applicable rules and regulations.
In the context of a violation, the provider’s regulatory licence can be withdrawn.
Payout from SmartBullMarket does not work? Consult a law firm immediately
You should take steps as soon as possible if the suspicion is confirmed that an investment service provider is not acting conscientiously and there is a risk that the online broker is delaying its repayments. Apart from a criminal complaint, which our lawyers file for our clients with the criminal investigation department, and a report to the financial supervisory authority, the provider should also be held legally accountable if necessary.
In doing so, the contractual claims against the operator of the trading platform as well as possible compensation possibilities are examined.
In the case of money transactions, it is also important to check whether financial institutions 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 unlawful acts. However, this must be checked depending on the context at hand.
If your broker refuses to pay out, you should contact a competent law firm immediately:
- Describe your experience with the provider to our lawyers in an email
- Give us the names and contact details of all the people you have spoken to
- Tell us how long the broker has not paid you
Our lawyers will give you a free initial assessment in relation to SmartBullMarket. We will also let you know as soon as possible whether we think you have a good chance of recovering your losses.