Tokens Note belongs to the category of financial services companies and describes itself on its website as a provider of online trading. Accordingly, one can open a trading account at Tokens Note and trade with contracts for difference on different underlying assets (CFD trading).

Do you already belong to Tokens Note ‘s clientele and are you active in online trading? Or are you thinking about investing funds soon? Then the following considerations are definitely essential for you:

  1. What courses of action may be available to Tokens Note clients in the event of losses?
  2. Is Tokens Note licensed by an official European regulatory authority?
  3. What experiences have other investors had with Tokens Note so far?

These questions are answered by the lawyers of the Herfurtner law firm in this article on Tokens Note.

Table of contents

  1. Tokens Note Experience
  2. Tokens Note website
  3. Contact details of Tokens Note
  4. Tokens Note Authorisation
  5. Warnings from financial regulators on Tokens Note
  6. Online trading tips
  7. Lawyers provide support in case of difficulties

Parallel to the question of the extent to which Tokens Note offers an adequate offer, it is relevant to deal with the basics for successful online trading. Our lawyers will also explain how the Tokens Note platform should be classified in relation to other financial services.

In addition, we will be on hand to assist you with any questions or disputes you may have in relation to Tokens Note.

Tokens Note Experience

Tokens Note, according to the company’s website, believes in establishing itself as a global brand through excellent customer service. In doing so, Tokens Note says it wants to ensure that profitability, success and customer satisfaction are at the heart of its objectives.

Therefore, Tokens Note strives to responsibly serve its clients with the latest innovations in analytical tools and resources to help them trade online. In addition, Tokens Note is willing to expand its own knowledge base as well as that of its clients, which is why it sees itself as a market leader in innovation and customer service.

Moreover, Tokens Note offers a range of financial instruments from different asset classes:

According to Tokens Note, one can choose from a number of trading accounts, which the provider presents on its website:

  • Classic account: Forex leverage 1:100
  • Silver account: Forex leverage 1:100, up to 10 % bonus
  • Gold account: Forex leverage 1:200, up to 30 % bonus
  • Platinum account: Forex leverage 1:400, up to 50 % bonus
  • Premium account: Forex leverage 1:500, up to 100 % bonus

Tokens Note website

The Tokens Note platform can be reached via the English-language website tokensnote.com.

Operator and Trademark

The name of the website or trading platform or offering is not necessarily identical with the operating company. In the past, it was not uncommon for operators to be present on the market with different trademarks at the same time.

It is also a common practice of some providers to deactivate the websites of incriminated trademarks and to return to the market shortly afterwards using a new trademark. In view of this, when researching news and statements about a provider, it is a good idea to take into account not only the trademark but also the operating company in general.

The respective information can be found either in the imprint or often also in the footer of a website. The footer of the company’s website states that Tokens Note is the trademark of an Amanda Group LLC based in St. Vincent and the Grenadines.

Imprint

In the Federal Republic of Germany, according to § 5 of the German Telemedia Act (TMG), there are general obligations to provide information and mandatory details for the imprint. Thus, this obligation to “identify the provider” applies to all commercially operated websites.

This is because the data should inform visitors to an online presence who they are dealing with. In addition, the postal address of the website owner plays a role in this context, in case legal claims are to be enforced against him.

In this context, it is also important to note that the obligation to maintain an imprint applies equally to service providers based abroad who conduct their business activities in this country. No imprint existed on the Tokens Note website in March 2022.

Query domain information

Some service providers use their many years of practical experience to pretend authenticity. However, the registration date of the domain always stands in the way of such information. It is therefore necessary to check who owns the domain and in which year the domain was registered.

Our lawyers determined the data on Tokens Note on 30.03.22 with this result: Domain name: tokensnote.com Registry Domain ID: 2640005567_DOMAIN_COM-VRSN Registrar WHOIS Server: whois.namecheap.com Registrar URL: http://www.namecheap.com

Updated Date: 0001-01-01T00:00:00.00Z Creation Date: 2021-09-10T10:17:37.00Z Registrar Registration Expiration Date: 2022-09-10T10:17:37.00Z Registrar: NAMECHEAP INC

Management

According to § 6 of the German Media State Treaty (MDStV), the name of the person responsible for the content of the website must be indicated in the imprint. This is usually a member of the provider’s management. Disclosing the names of the responsible persons is not only obligatory, but also a sign of transparency.

As of March 2022, no data on responsible persons could be found on Tokens Note’s online presence.

Tokens Note contact details

At the time of writing, the following information was available on the Tokens Note website:

  • Tokens Note: n. A.
  • Tokens Note postal address: First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St Vincent and the Grenadines, VC0100
  • E-mail contact for Tokens Note: support[a]tokensnote.com

Tokens Note Authorisation

The existence of a valid authorisation from a European state financial supervisory authority can be an important characteristic of whether a company is a trustworthy service provider. This is because a company has to make a considerable economic effort to obtain a licence.

However, it does not automatically have to be fraud if a broker omits information on its authorisation or its own regulatory status. The financial supervisory authorities mentioned here are responsible, among others, for issuing licences and supervising financial service providers such as Tokens Note:

  • Federal Financial Supervisory Authority (BaFin, Germany)
  • Commission de Surveillance du Secteur Financier (CSSF, Luxembourg)
  • Comisión Nacional de Mercado de Valores (CNMV, Spain)
  • Swiss Financial Market Supervisory Authority (FINMA, Switzerland)
  • Australian Securities & Investments Commission (ASIC, Australia)

There was no information about regulatory authorisation on Tokens Note’s website as of March 2022. Private investors can discuss what this means in a dialogue with legal counsel at our law firm.

Regulatory alerts on Tokens Note

As of March 2022, our law firm has not received an official warning from a European financial supervisory authority on the subject of Tokens Note.

Before trading Tokens Note and others – Trading advice

Trading on an internet platform such as Tokens Note is the extension of traditional trading in financial instruments to the internet. Here, as there, investors act on the premise of generating surpluses through the purchase and sale of assets.

Trading has long since ceased to be limited to shares. In fact, investors can also choose from the following assets, for example:

  • Cash
  • Commodities
  • Foreign exchange
  • Money market funds
  • Crypto trading with Bitcoins and Altcoins, for example Ripple
  • Funds
  • Real estate
  • listed index funds
  • Bonds

Online trading is realised via interfaces such as brokers (like Tokens Note) or banks that provide their clients with professional trading software. It is foreseeable that in the future there will be more and more private traders who discover online trading for themselves. All you need is an internet connection and a PC or a smartphone or tablet.

The advantages of online trading

Digitalisation has also had an enormous impact on the world of finance, especially with regard to trading such as Tokens Note. Because of the technological possibilities, trading has gained significantly in speed.

In the past, investors and traders had to place their orders by phone, fax or post, but today they can do so with a click and at a fraction of the cost. Factors such as the term and type of trade, prices and quantities or account details can now be clarified without a personal conversation between a broker like Tokens Note and its customer.

Ultimately, the possibility of online trading has created numerous advantages:

  • The risk of losses due to gaps is reduced.
  • The speed of transaction execution has increased noticeably.
  • The base of tradable financial instruments is broader and deeper.
  • Surpluses are achievable even with a low stake.
  • Many tools can be used automatically and instantly.
  • The platform executes the desired orders, all you need is an internet connection.
  • Transaction fees have gone down noticeably because the individual telephone consultation is no longer necessary.
  • Online traders have access to a wide range of tools and can use various indicators.

But online trading not only provides investors with advantages in terms of uncomplicated use of the platform. In particular, the analysis options, indicators and the various tools provide the investor with noticeably more comfort.

The times when you had to draw your own price trends or make your own calculations are over. Nowadays, online traders find a large selection of order types in their system, which can be executed independently when day trading with the preferred online broker of their choice.

Hype topic cryptocurrencies – new opportunities for money investors?

But it is not only trading itself that has been enormously influenced by digitalisation. The advancing technology has given online brokers a new field of action: trading with digital assets. The best-known cryptocurrencies include Bitcoin and Ethereum.

Bitcoin was the first cryptocurrency ever, which is why all other digital currencies are called “altcoins”, i.e. alternative coins. Today, there is an enormous variety of tradable crypto assets and the landscape is extremely volatile.

As a result, new coins enter the market regularly and a large number disappear just as quickly as they were released. For financial investors, this entails opportunities as well as risks, which are, however, noticeably amplified compared to traditional investments due to the high volatility.

For investors, newly issued cryptocurrencies are basically like a game of chance at the roulette table. With a little luck, you can multiply your stake significantly. However, the probability of losing all the money is also extremely high.

That is why it might be a good decision for cautious traders to focus on the top 10 crypto stocks that have been traded for a long time and have a relatively large market capitalisation.

Next Generation Crypto: Alternatives to Bitcoin and Ethereum gain interest

In addition to Bitcoin and Ethereum, the Binance Coin, Solana, Cardano or Ripple should be mentioned here. Compared to Bitcoin and Ethereum, Cardano and Solana in particular can be classified as more modern and future-oriented.

While the former are repeatedly criticised for their energy-intensive “proof of work” mechanism, the latter rely on the less energy-intensive “proof of stake” mechanism. Moreover, the blockchain-based projects Cardano and Solana enable the use of so-called smart contracts.

Further projects are emerging in the respective ecosystems, such as Solanart, a marketplace for so-called “non-fungible tokens”, or NFT for short. These can be used in decentralised finance, for example.

There, they help to implement security mechanisms that guarantee the uniqueness of transactions and the correctness of each submitted order.

Ultimately, investors have an enormously wide choice of cryptocurrencies in which to invest. Crypto trading is nevertheless particularly recommended for investors who are extremely risk-averse.

Moreover, the same applies to crypto trading: be careful when choosing a provider. Unfortunately, there are countless documented cases of fraud and cybercrime in which crypto exchanges have played an inglorious role.

Weaknesses in online trading

Not all that glitters is gold, this statement also applies to online trading. Consequently, apart from the advantages, there are also a number of disadvantages that interested investors should integrate into their considerations:

  • In case of wrong decisions, there is a risk of big losses.
  • Investors should already be well versed in trading and pursue resilient strategies.
  • Private investors should keep a constant eye on price trends.
  • The existence of fraudulent trading portals has led to enormous risks of loss.
  • Compared to conventional trading, it is rather hasty.

Above all, risky day trading is not suitable for investors who are dealing with the topic of trading for the first time. This is because the risk of incorrectly predicting price developments is immense, and because of the time pressure, adjustments are not easy.

Therefore, this form of trading tends to be suitable for particularly experienced investors or those with a pronounced affinity for risk. If you belong to this category, day trading is a way to achieve results quickly. Furthermore, one benefits, for example, from the omission of fees for overnight positions.

Finally, these costs should also be included in the overall consideration of an investment. On top of that, you literally save yourself a rude awakening in the morning, in case there were immediate and drastic price changes. Such “gaps” develop quickly due to negative reporting about a company.

On the other hand, one quickly sees success if one can report a surplus at the end of a trading day. Furthermore, it is relevant for day traders to compare the trading fees of the different brokers. Here it can pay off to opt for a flat rate in the form of a fixed rate.

This pays off especially if you trade with increased frequency and individually invoiced order fees would significantly reduce your profit.

Recognising dangers – Lawyers warn against imprudent trading

In order not to unnecessarily increase the risks and dangers of online trading, one should question which provider one wants to use for trading at the trading centres. From the practical experience of our law firm, a few questions have emerged that help to identify potential risks. Applied to the example of Tokens Note, these would be as follows:

  • Is Tokens Note regulated by a European financial supervisory authority and is the company subject to official supervision?
  • Is there an imprint on Tokens Note’s website and can credible information about the provider’s place of business be found?
  • Is it possible to find official warnings about Tokens Note?
  • Did the contact with Tokens Note result from an unsolicited telephone call?
  • What experiences have other investors already had with Tokens Note, what are the prevailing opinions in forums?
  • Does Tokens Note guarantee particularly high returns and conceal or downplay the risks?
  • Are there any warnings from lawyers or law firms representing clients who have suffered losses in connection with Tokens Note?

What to do in case of losses?

If you fear that you have been defrauded in online trading, it is advisable to stop additional payments immediately. This applies especially to the circumstance that the broker suggests additional payments to compensate for losses. In addition, one should attempt to recover the lost capital.

In doing so, aggrieved investors can seek investor protection and contact the lawyers of our law firm. Our law firm examines both civil and criminal law options as well as possible claims for damages against the provider and against involved payment service providers such as banking institutions.

“A private investor who loses his capital in online trading is by no means an isolated case. Numerous investors are blinded by the professional appearance of the companies and do not realise in time that they are not responsible for their losses.”

Our recommendation is therefore not to resign, but to react promptly and with commitment. Because the prospect of recovering the lost capital is often greater than the aggrieved investors suspect. Would you like to talk to one of our lawyers about token notes? Then you can go straight to our contact section here.