Tricoin – The investment service provider is, according to information available on the company’s website, a provider for online trading where customers can make use of various services. Accordingly, Tricoin is concerned with trading in cryptocurrencies.

If you have invested money with the online broker Tricoin and now have complications with the repatriation, our lawyers will advise you throughout the German-speaking area.

Tricoin – customer-oriented online broker?

Currently, there is an extremely high number of online trading platforms such as Tricoin. This means that it has never been so easy, but also risky, to invest in the unpredictable financial markets. Precisely because there are numerous opportunities, choosing a provider can be time-consuming and challenging. Especially if it is to meet your personal investment needs. Are you thinking about investing with Tricoin? In this case, the following points are important for you as an investor.

  • Officially regulated online brokers, reputable portals, costs and commissions, offer options and key data are just a few of the criteria you should take into account when making your final choice.
  • A suitable address for investors who want to find out about share certificates, futures, binary options and cryptocurrencies is a website like this one.
  • Access to cross-border stock markets is made easier and more lucrative for capital investors through online investing.

The following statements are general tips for investors – regardless of the platform you invest money in.

Evaluate trading platforms like Tricoin correctly

Money investors have a wide range of investment options to choose from, with trustworthy and questionable financial service providers competing for their attention. There are many signs that a financial service, as well as a product, does not inspire confidence, and it is central to keep an eye out. Here’s what to look for when investing your hard-earned money. Banking, financial services and insurance companies like Tricoin are only allowed to operate in the FRG with government authorisation.

Although the providers have received authorisation, this in no way means that the services offered are of excellent quality. If a prospectus or information sheet approved by the German financial supervisory authority has already been published, securities and investments can equally be made available to the general public. The Federal Financial Supervisory Authority alone ensures that prospectuses are complete, comprehensible and coherent. Tricoin’s prospectus or information sheet is not required in every case.

Before you invest capital, you should think about your lasting expectations and investigate whether you have the financial means to achieve them. Do not rush the process. Before you invest your assets in an investment, take time to weigh the pros and cons. Do not make a choice immediately, even if you have consulted with others.

Cold Calling – how does this unauthorised scam work and does Tricoin work like this?

Have you ever received a phone call from a stranger who presented you with a special offer? Never answer. Unsolicited calls are not allowed. “Cold calling is expressly not allowed with investment service providers and other companies such as Tricoin. There are also people who claim to work for reputable internet trading platforms. In this way, they want to persuade people to give them their sensitive data. Often, after your very first deposit, you are instructed to deposit more capital.

Phone scammers are always coming up with new methods to rob investors of their savings, cash and other valuables. A common strategy of the rip-off artists 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. Furthermore, the lawbreakers 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 customer-oriented. In this way, the perpetrators give the person they are talking to on the phone a feeling of sympathy and trust. Check if you are truly dealing with the Tricoin company when they call you.

Ponzi scheme definition

A pyramid scheme, or Ponzi scheme, is a type of capital fraud. In it, money is collected from new investors and then used to distribute money to the original victims. The organisers of Ponzi schemes often stress that they will invest your money and earn exorbitant returns without putting your money at risk. Regardless of all this, in many Ponzi schemes the crooks do not actually invest the assets they take. Instead, it is used to compensate people who paid in earlier.

This allows the perpetrators to keep some of the capital for themselves. So pay attention to the risk-reward ratio in all investments – including Tricoin. Ponzi schemes require a steady inflow of fresh capital to keep running, as they have little or no real income. Many of these structures fail when it becomes arduous to attract new investors or when a significant number of investors drop out. If you want to invest with an online broker like Tricoin, you should always act with caution.

Among the pointers you should watch out for are:

  • Overly predictable outcomes. Over time, investments tend to rise and fall. Any investment that consistently produces good returns regardless of market conditions should be viewed with a high degree of suspicion.
  • The distribution of returns is not working? If you are not receiving any payments at all or are finding it difficult to distribute, you should be vigilant. Ponzi scheme operators may try to encourage participants to stay with the promise of even greater returns if they do not withdraw money.
  • Tactics that are difficult to identify. Keep your money out of the stock market unless you know enough about it.
  • Investments that are not registered with financial regulators. In the most common cases, Ponzi schemes are unregistered investments that are not controlled by official authorities such as Bafin.
  • Risk-free returns with minimal or no volatility. Every investment carries a certain amount of risk, and the riskier a capital investment is, the more likely it is to yield a high return.
  • 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 individuals or firms.
  • Is there a problem with the documentation? If there are errors on your account statement, it may be an indicator that your money is not being invested as planned.

Differences: reputable and dubious trading website providers

On questionable online trading platforms, there are a variety of capital goods that are penetratingly advertised in internet forums and social networks in order to lure investors. In addition, “multi-level marketing” is used to solicit new investors. The advertising primarily emphasises the promise of immediate profitability. In order to start investing, a potential investor must first create an account with the online trading platform – as is the case with Tricoin.

Then the alleged online brokers contact the investor via a call centre and try to persuade him to pay large sums of money. The optimistic attitude of investors towards cybertrading is partly reinforced by the idea of future profits. Clients are more willing to invest in the future if they see exactly the kind of results they expect. At this point, investors are fooled by a manipulated trading algorithm about the true evolution of stock market data and prices. Tricoin does not necessarily fall into this category.

The criminals use their own, unilaterally defined price values when calculating profits. This means that the trading provider has complete control over whether a profit is made or not. Until the alleged returns are paid, this fraud will continue. When the moment of payment arrives, the buyers suddenly no longer have access to their accounts and the direct contacts associated with them. The vast majority of investors lose all their capital invested in this illegal trade, forcing them to call in a lawyer.

Duty to inform about fees

Before investing with Tricoin, find out how much of your investment amount will be used to cover costs, fees and commissions. This is a useful time to take a comprehensive look at the information provided by the providers! Investors must be notified of all calculated costs and their effect on the profit margin of investment service providers. In addition, the costs must be listed separately. If you request a detailed overview of any costs, the financial service providers are obliged to provide you with this information.

For obvious reasons, a service provider like Tricoin is usually interested in as many transactions as possible. In quite a few cases, the costs are so high that it is difficult to make a profit. The fees can even devour the invested capital in a short time. Therefore, be sure to pay attention to the costs! The broker’s trading fees must be visible to everyone. The clarity of the cost structure is also specified in the applicable regulations and licensing. In connection with a violation, the provider’s regulatory licence can be revoked.

Recover payments from Tricoin: Lawyers help

Investors who have suffered losses with a company like Tricoin, or who are having difficulty getting their winnings paid out, should above all avoid making additional deposits. Following this, it is highly advisable to seek legal advice on any options for recovering your investment. It is important:

  1. under no circumstances bury your head in the sand
  2. act quickly
  3. seek legal support

Would you like to discuss the Tricoin service provider with us? In this case, our lawyers are ready to provide you with information. Feel free to contact us to discuss the topic of Tricoin.