TrendKnowledge – The supposed financial service provider TrendKnowledge presents itself as an online broker on its website https://trend-knowledge.com/. The Cybercrimepolice from Zurich warns against the provider, because of a suspicious report of fraud.
If you have invested money with the financial service provider TrendKnowledge and are now experiencing repayment problems, our lawyers can help you nationwide.
TrendKnowledge – Warning from the Zurich Cybercrime Department
Currently, there is an extremely high number of providers such as TrendKnowledge. As a result, investing in the volatile financial markets has never been as easy but also as unsafe as it is today.
Especially because there are so many options, choosing an online platform can be time-consuming and daunting. Especially if you want it to meet your individual investment needs. Have you already invested with TrendKnowledge? In this case, the following points are important for you as an investor.
- A very good address for investors who want to find out about share certificates, futures, options and cryptocurrencies is a website like this one.
- Entering the global stock markets is becoming more convenient and affordable for investors through online investing.
- Federally regulated online brokers, trusted platforms, costs and commissions, product options and ratings are just some of the points to consider when making your final choice.
- A large number of order types can be used in the area of trading on the internet.
The following is basic advice for investors – regardless of the platform you are investing in.
How credible is TrendKnowledge’s offer?
The following considerations should be taken into account when looking for options to invest your capital online:
- The imprint must include an address, the contact details of an authorised representative of TrendKnowledge and a telephone number in the Federal Republic.
- It can be very helpful to find out what other customers are saying about a potential provider, even if it is only on the Internet.
- Look for an imprint on the service provider’s website. If this is not the case, it means: Hands off! But also be aware that an imprint can be faked.
- Financial service providers such as TrendKnowledge must be licensed in Germany by the Federal Financial Supervisory Authority (BaFin). BaFin’s company database contains information on approved service providers.
- Quality seals are often used by fake shops to suggest that they are reputable. To see if a link leads to the website of the seal of approval and if the shop is also mentioned there, click on the picture of the seal. It is quite possible that the owner of the homepage simply copied the seal from another website and transferred it to his own website without the adequate certification.
TrendKnowledge: Transferring funds to bank accounts abroad?
Is it beneficial for you to transfer assets outside Europe? Consider carefully what you are doing. Many investors have already lost capital in the process. You may lose track of where your funds are going and how they are invested.
When money has been made available to a provider, it has happened that the company does not invest the amount received as agreed or even not at all. There were also cases where the company simply did not exist, although it was similar to TrendKnowledge.
Apart from the licensed service providers, there are plenty of dubious online trading platforms where a similar procedure can be observed in a large number of cases. Potential investors are contacted by employees of the respective trading platform.
For example, by telephone, as soon as the investor has provided non-binding contact information on the service provider’s website. In most cases, however, they are also contacted by mass e-mails. These entice the investor with supposedly lucrative investments.
The investor is directly provided with his own online broker, who instructs him on how to set up a trading account and make his first investments. The investor feels well supported for the time being and trading often begins with small amounts.
But soon higher investments are demanded – mostly to foreign accounts. These transfers are intended to increase potential profits. Difficulties with dubious trading platforms ultimately arise as soon as the investor demands a profit distribution.
This is very often withheld or linked to additional payments such as alleged taxes and brokerage commissions. In the past, the fraudsters operated solely from dubious locations.
Now they operate from completely different places such as the United Kingdom (including London), the Netherlands, Canada, the Kingdom of Spain, Dubai and others. For the majority of people, it takes effort to spot tricky methods.
Businesses often receive email orders with huge order volumes that are disproportionate to the usual purchase amounts. In order to lure the German company, very large promises of profits are made.
However, the extreme order volume serves solely as a means of exerting pressure in conversations with the manufacturer in order to demand correspondingly high approval and registration costs.
It is not always obvious whether the recipient of this payment is also the customer of the products. However, it can be assumed that companies that are active abroad will not have to pay local taxes on shipments to other countries until further notice. Check whether this also applies to investments at TrendKnowledge.
Pump & Dump: What is behind the term?
The term pump & dump is used to describe a procedure in which the price of a share is driven up unnaturally by insiders. This share is then sold again at a loss to the remaining investors. This is therefore a fraud. A fraud that profits from the naivety of small investors and stock market novices.
This strategy is therefore illegal in a controlled stock market and for providers like TrendKnowledge. The crypto market, on the other hand, is still largely “Wild West” as far as such tactics are concerned. For this reason, extreme vigilance is required!
Pump-and-dump scams are increasingly found there in connection with the so-called altcoins. The pump-and-dump scam is used by criminals to inflate the value of an unknown currency or one they may have created themselves.
They achieve this by spreading disinformation on the internet or in social media or by luring co-investors with unreasonable profit expectations. So make sure that you are provided with all the necessary information on this complex of issues by the provider TrendKnowledge, if necessary.
Aggressive marketing measures and problems with the payout – do you know this?
There is an abundance of capital goods on dubious internet platforms, which are relentlessly advertised in forums and social media in order to convince capital investors. In addition, “network marketing” is used to solicit new investors. The advertising mainly emphasises the assurance of quick profitability.
In order to start investing, a potential buyer must first of all create an account with the trading platform – as is the case with TrendKnowledge. Then the perpetrators contact the investor via a call centre and try to convince him to invest large sums of money.
The positive attitude of investors towards cybertrading is partly supported by the desire for future profits. Buyers are more willing to invest in the future if they see exactly the kind of results they expect. At this stage, investors are deceived by a corrupted trading algorithm about the true trend in stock market data and prices.
TrendKnowledge does not necessarily belong to this category. The criminals use their own unilaterally defined price values when calculating returns. As a result, the financial service provider has complete control over whether a profit is made or not. Until the supposed profits are paid, this swindle will continue.
If the investor demands payment, the buyers suddenly no longer have access to their client accounts and the personal client advisors associated with them. The majority of investors lose all their assets invested in such fraudulent trading, forcing them to seek legal advice.
What is an order commission?
Before investing with TrendKnowledge, find out how much of your investment amount goes to cover costs, fees and commissions. This is a good time to fully check the information provided by the providers! Investors must be made aware of all fees payable and their impact on the profit margin of investment service providers.
Furthermore, the costs must be presented separately. Provided that you demand a presentation of any fees, the providers are obliged to give you this information. A service provider like TrendKnowledge is usually interested in as many transactions as possible for understandable reasons.
Most of the time, the costs are so high that it is difficult to make a profit. The fees can even devour the invested assets in a very short time. Therefore, be sure to pay attention to the costs! The commission fees of the online broker must be accessible to everyone.
The transparency of the cost structure is also stipulated in the official rules and regulations. In the event of an offence, the service provider’s regulatory approval can be revoked.
Money back from TrendKnowledge: Maximise your chances of success with assistance from the Herfurtner Law Firm
In order to be able to assess whether you have a repayment claim against the service provider TrendKnowledge, it is necessary, without exception, to examine your case in detail. The lawyers of the Herfurtner law firm will do this for you in the context of a free initial consultation.
The basis of this assessment is always the facts of the case as explained by you. In addition, parallels to comparable cases can usually be noted. You therefore benefit from the extensive experience of our lawyers.
After the entire evaluation of all documents and the legal classification, the procedure is first oriented against the service provider TrendKnowledge itself, should certain breaches of duty be demonstrable.
In order to be able to prove such breaches of duty, the contract papers, the e-mail correspondence and possibly other documents should be evaluated. In addition, regulated online trading providers are equally obliged to make and keep telephone records of conversations with investors.
The demand for the handing over of such documentation and the subsequent evaluation is nevertheless an advisable and necessary step in the enforcement of your claims. With the help of this evidence, the buyer’s claims can be enforced both in extrajudicial and in judicial proceedings.
The banking institutions and crypto exchanges that are on the receiving end should also be focused on in this regard.
Due to the fact that in many cases considerable amounts of money are involved, the question repeatedly arises as to whether the institutions have complied with their duties to provide information and their obligations under the Money Laundering Act.
A general statement cannot be made here; rather, the case of the individual must be considered. The same applies to the beneficiary on the receiving side, who is often not equivalent to the provider itself. Under certain conditions, the beneficiary can also be held liable if breaches of duty can be proven.
After all options under civil law have been exhausted, there is still the option of proceeding under criminal law if the suspicion of a criminal offence is substantiated. This requires contacting law enforcement agencies at home and abroad and coordinating further measures.
In the meantime, many federal states have set up special departments for the topics of online fraud offences and crypto trading. The lawyers of the Herfurtner law firm are in regular contact with these departments. Last but not least, web hosters can also provide useful information on the owner of the domain.
However, contacting the web hosts, which are often located outside of Germany, is extremely complicated for the layperson. Nevertheless, financial supervisory authorities in Germany and abroad are useful contact points for investors who have suffered losses.
Apart from complaining against the particular provider to prevent other potential investors from investing, more details can probably be obtained through the financial supervisory authorities as providers of information. These details often make it possible to combine investigations in the FRG, Austria and Switzerland.