Trade Grow Deposits- The supposed investment company Trade Grow Deposits presented itself on its website http://trade.growdeposits.net/ as an online broker. The website is currently no longer online.
In a warning notice, the Financial Services and Markets Authority expresses the suspicion that the provider lacks the necessary authorisation to offer these financial services.
If you have invested with online broker Trade Grow Deposits and are now experiencing repayment difficulties, our solicitors nationwide are here to help.
Trade Grow Deposits- How should the online broker be rated?
Currently, there is an exceptionally high number of providers such as Grow Deposits. As a result, investing in the unpredictable financial markets has never been as easy but also as uncertain as it is now.
Precisely because there are so many options, choosing a broker can be time-consuming and daunting. Especially if you want it to match your personal investment preferences.
Have you already deposited with Trade Grow? Then the following aspects are important for you as an investor.
- Access to the global stock markets becomes easier and more lucrative for investors through online investments.
- Government licensed brokers on the internet, reputable provider sites, costs and brokerage commissions, product options and reviews from clients are just a few of the aspects you should plan for when making your final choice.
- In online trading, you can use a large amount of order types.
The following information is general advice for investors – regardless of the platform you invest capital in.
Keep a cool head – assess providers like Trade Grow Deposits correctly
There is a wide range of investment options available to money investors, with reliable and questionable service providers competing for their attention.
There are many indicators that a service as well as an offer is not reputable, and it is relevant to have a look. This is where you will learn what to look for once you invest your hard-earned capital.
Banking, financial services and insurance companies like Grow Deposits are only allowed to operate in the FRG with state permission. The companies may have received a licence, but that does not mean that the services they offer are of excellent quality.
If a prospectus or information sheet approved by the German financial supervisory authority has been published in advance, securities and investments can also be made available to the general public.
BaFin alone ensures that prospectuses are complete, comprehensible and coherent. The prospectus or the information sheet of Trade Grow Deposits is by no means necessary in every case.
Before investing money, it is advisable to think about your lasting expectations and check whether you have the economic means to achieve them. Do not rush the process. Before you invest your capital in an investment, take time to review the pros and cons. Do not make a choice on the spot, even if you have consulted with others.
Does Trade Grow Deposits require you to make direct investment decisions?
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 choice quickly?
This is certainly not an ideal idea, because it is often a ruse. Do not rush! Not only can you get reliable special offers now, but you can also make deposits with Trade Grow in the future.
To get to their goal, con artists know in detail what they need to do. They try to get as much information as they can about the person they are targeting by asking clever questions. They also ask about the other person’s condition, e.g. whether they are home alone or whether they keep money at home.
Incidentally, they use a tactic of “wait and see” to tire the person out. You can keep your counterpart on the phone until he or she agrees to go to the bank and hand over cash and additional valuables to the criminals.
In one such scam, time pressure is imposed on the injured party. With this very strategy, the injured party is enticed to let his own guard down.
Current support scams use the same method. Since the contacted person’s computer is allegedly infected by an exceptionally serious computer virus, the callers, presumably working on behalf of Microsoft or such a service provider as Trade Grow Deposits, demand urgent payment for a maintenance contract in English with an Indian accent.
The criminals add to the stress by threatening the targeted individuals to make them pay if their PC is infected and transmits the infections.
What is a pyramid scheme?
A Ponzi scheme, or Ponzi scheme, is a type of fraud. In it, capital is pooled from new investors and then used to distribute capital to the formerly victimised individuals.
The masterminds of Ponzi schemes often claim that they will invest your assets and earn exorbitant returns without putting your capital at risk. However, in many Ponzi schemes, the fraudsters do not actually invest the assets they receive.
Instead, it is used to pay off people who have previously paid in. This allows the perpetrators to keep some of the capital for themselves. So pay attention to the risk-reward ratio in all investments – including Trade Grow Deposits.
Ponzi schemes require a steady inflow of new money to keep running, as they have little or no real income. Many of these schemes fail when it becomes difficult to generate new money investors or when a substantial number of investors drop out.
In the event that you want to invest with a broker like Trade Grow Deposits, you should always act prudently.
Indicators to watch out for include:
- Tactics that are difficult to determine. Keep your capital out of the stock market if you don’t know enough about this.
- Is there a problem with the documentation? If errors appear on your account statement, it may indicate that your money is not being invested as planned.
- The payment of winnings does not work? If you are not receiving any payments or are finding it difficult to get paid out, you should be on your guard. The operators of pyramid schemes may try to encourage participants to persevere by guaranteeing even higher monetary gains if they do not withdraw money.
- Selling without a licence: Investment professionals and firms must be licensed or registered, true to federal and state securities regulations. The most common Ponzi schemes involve unlicensed people or firms.
Broker demands taxes and other remittances?
Investors are very often solicited by a “broker” or call centre employee once they have registered on the purported trading platform. The intention is to encourage the investor to increase his long-term investments in order to maximise profits. This is also a legitimate goal of the Grow Deposits broker.
Immediately after the investor has transferred his capital, the first profit developments will probably be presented on his user account. This should encourage the investor to invest steadily in the financial instrument.
The operators of the trading platform, in turn, can feign improper account movements and earnings through the use of fraud software, even without the buyer noticing.
Make sure that accounts can be authenticated even with Trade Grow Deposits.
In practice, no trading takes place at all on various platforms. Instead, the perpetrators transfer the transferred assets to bank accounts outside Germany. This is not noticed by the investors at first.
The “financial service providers” postpone the payout of the represented income by demanding the payment of apparently due taxes and commissions from the investors. These tricks only benefit the goal of increasing income.
Sooner or later, the connection breaks down completely. The invested money is used up. From this moment on, the only thing left to do is to go to a lawyer to take the necessary steps.
Recovery Scam: Increased caution is necessary!
Anyone who has ever lost assets through a fraudulent investment platform knows how fatal this can be. That alone is bad enough. But on top of that, the criminals behind the bogus system contact you by email or phone within a manageable amount of time.
This time, however, they do not pretend to be online brokers of Trade Grow Deposits. Instead, they promise to help you recover the stolen capital in exchange for an advance payment. Many criminals even appear to have been hired or authorised by reputable organisations such as a financial authority.
After stealing your sensitive data, the criminals often pose as good Samaritans. They promise to help you recover the stolen money. Even if you have invested money with a service provider like Trade Grow Deposits, your data may be stolen.
Those who have lost a large amount of money are usually desperate. Criminals take advantage of people’s desperation by posing as money recovery companies. They offer their services under the pretext of helping them get their money back. That is, they securitise in a dubious manner that they will recover the lost assets.
Lawyers give advice on Grow Deposits
If you have already made investments with Trade Grow Deposits and now want to reclaim them, there are several ways to proceed.
- If the providers were to be arrested, claims by the investors who have suffered losses can be asserted in court proceedings. For this purpose, we accompany our clients through the so-called adhesion procedure. In this way, we can obtain court titles for our clients against the providers. As a rule, these can then be immediately enforced against the seized money of the perpetrators.
- If there is a suspicion that the bank accounts to which our clients have transferred money are part of a money laundering system, these bank accounts can be blocked. Payments to these accounts can then be reclaimed from the receiving bank.
- Often, a solution to the problem can be worked out with the service provider itself. In many cases, we manage to reach out-of-court settlements with the platforms. Our clients then get back their entire investment sum or a share of it.
- In the event that it is guaranteed that no problem can be solved with the service provider, a complaint should be filed with the responsible financial supervisory authority. They will check the situation and may order the service provider to pay compensation. Our client will then receive this amount of money back from the service provider. The addressees for complaints can be, for example, financial supervisory authorities or financial ombudsmen.
- If transfers have been made to foreign accounts, the law enforcement authorities and banks abroad can also be informed. These often then initiate their own investigations. This also has the aim of securing sums of money in the bank accounts and subsequently transferring them back to our clients.
- If an assessment by our lawyers would come to the conclusion that the service provider may have acted dubiously, we file a complaint with the responsible investigating authorities on behalf of our client. The Herfurtner law firm is in constant dialogue with public prosecutors’ offices that conduct investigations throughout Germany. In most cases, there are many hundreds or even thousands of aggrieved investors in these investigative proceedings. The investigations repeatedly extend to other countries as well. In the past, the public prosecutor’s offices have repeatedly achieved significant successes in their investigations.