Umarkets – The online broker is, according to information found on the website of the provider, a provider for online trading where clients can claim various services. Accordingly, Umarkets takes care of Forex trading.

If you have invested with the online broker Umarkets and now have complications with the payout, the law firm Herfurtner will help you reliably and comprehensively.

Umarkets – Broker Overview

Currently, there is an enormous number of online trading platforms such as Umarkets. As a result, investing in the volatile financial markets has never been as easy but also as risky as it is today.

Especially because there are plenty of options, choosing a broker can be time-consuming and daunting. Especially if it is to meet your particular investment ideas.

Have you already invested with Umarkets? Then the following aspects are significant for you as an investor.

  • Access to the international financial markets becomes more convenient and versatile for investors through online investing.
  • A large number of order types can be used in the area of trading on the Internet.
  • Regulated brokers on the internet, secure platforms, fees and brokerage commissions, product options and customer feedback are just some of the criteria you would need to consider when making your final choice.

The following are general recommendations for investors – regardless of the platform you invest capital in.

Is Umarkets authorised by financial regulators?

Both financial markets and investor protection benefit from rules of conduct and organisational responsibilities. Bond service providers and companies such as Umarkets must comply with a wide range of standards of conduct. The same applies to their employees. This is to avoid conflicts and related disadvantages for investors.

This includes the responsibility of the financial services provider to inform its clients about the most significant features of a financial transaction before it is concluded. This applies both to the specific investor and to the investment itself. In line with this idea, further facts are necessary for clients who want to engage in highly speculative or risky transactions.

To their clients, providers such as Umarkets have a responsibility. This goes far beyond the provision of an offer or service.

Does the provider have a licence to sell investment products? You should definitely check this. To do this, you can use the broker check directory of a financial supervisory authority and enter the brand name of the service provider in the search function.

Do capital investors also feel pressured by Umarkets to meet deadlines?

Do you feel the pressure of a tight deadline? Is the financial service provider tempting you with a special offer, but you are under pressure to make a choice quickly?

This is not an excellent idea, because it is usually a feint. Don’t be in a hurry! Not only can you get reliable special offers now, but you can also invest in Umarkets in the future.

To get to their goal, con artists know exactly what to do. They make an effort to get as much information as they can about their targeted person through well-worded enquiries. Furthermore, they ask about the circumstances of the interlocutor, for example whether he or she is alone at home or whether he or she has financial means at home.

In addition, they use a tactic of “wait and see” to exhaust the person. They can keep their counterpart on the phone for a very long time until he or she agrees to go to the house bank and give the criminals cash and other valuables.

In such a scam, time pressure is imposed on the injured party. With such a strategy, the injured party is encouraged to disregard his own caution.

Modern support scams use the same method. Since the computer of the person contacted is presumably infected by a very persistent computer virus, the callers, presumably acting at the behest of Microsoft or a service provider such as Umarkets, demand urgent payment for a maintenance contract in English with an Indian accent.

The rip-off artists increase the pressure by threatening to charge the targeted persons if their PC is infected and transmits the infections.

Pump and dump: simply explained

The term pump and dump is used to describe a situation in which the market price of a share is unnaturally inflated by insiders. Subsequently, the same share is sold again at a loss to the other investors.

This is therefore a fraud. A trickery that profits from the cluelessness of small investors and stock market novices.

This tactic is therefore prohibited in a controlled securities market and for service providers such as Umarkets. The crypto market, on the other hand, is still almost entirely “Wild West” as far as such tactics are concerned. For this reason, extreme attention is needed!

Pump-and-dump scams are often found there in the context of the so-called altcoins. The pump and dump scam is used by fraudsters to inflate the value of an unknown or even self-created currency. They achieve this by spreading false information on the web or on social media or by recruiting co-investors with unreasonable profit expectations.

Make sure that Umarkets provides you with all the necessary information on these issues, if requested.

Warning signs of investment fraud

You want to invest with Umarkets? Then you should find out all the information you need about the company.

Investment fraud is a special form of fraud. The criminal promises or deceives a large group of people about a lucrative investment in the capital market.

Capital investment fraud is punishable by a prison sentence of up to three years or a fine, in accordance with § 264a StGB.

The following services and strategies may sometimes qualify as capital investment fraud:

  • Fraudsters use the brand name of the provider Umarkets and clone the company
  • Unsolicited telephone advertising calls, so-called cold calling
  • Shareholdings in companies
  • Shareholdings in shares, funds and certificates

Those who have fallen for investment scams have often invested a lot of money. What can you do in case of investment fraud?

  1. Withdraw from the contract or contest it: Affected persons who have concluded a contract can withdraw or contest said contract in case of investment fraud.
  2. Involve the police and supervisory authority through a legal advisor: There are collective police proceedings against some fraudulent companies in the Federal Republic of Germany and also abroad. The criminal investigation department is authorised to have the criminals’ accounts blocked and the money seized. In addition, the public prosecutor’s office becomes active.
  3. Recovering funds: If payments have been made via credit card, this can in many cases be recovered by calling in a law firm. In the case of bank transfers from the current account, this can often be recovered by bank order.
  4. Claiming compensation: People who have been misinformed can claim damages from the investment adviser.

Broker brokerage fee: Make sure you get clear information in time

Before investing, find out from Umarkets how much of your investment amount will be used to cover costs such as fees and commissions. This is a useful time to review in detail the information provided by service providers!

Investors must be notified of all costs included and their effect on the return from financial service providers. In addition, remuneration must be listed separately.

In the event that you request a detailed overview of the individual costs, the financial service providers are obliged to provide you with this information.

A broker like Umarkets is normally interested in as many transactions as possible for understandable reasons. In many cases, the fees are so high that it is difficult to make a profit. The fees can even eat up the invested capital in a short time.

Therefore, be sure to pay attention to the costs! The trading fees of the online broker must be publicly visible. The transparency of the cost structure is also stipulated in the official regulations and licensing.

In the context of a violation, the service provider’s licence can be revoked.

What to do in case of losses with Umarkets?

If you have already made investments with Umarkets and now want to reclaim them, there are various methods.

  1. Often, a solution can be worked out directly with the service provider. In many cases, we can reach out-of-court settlements with the platform operators. Our clients then get their entire transaction amount or a share of it back.
  2. If there is a suspicion that the accounts to which our clients have transferred money are part of a money laundering system, it is possible to have these accounts blocked. Payments into these bank accounts can then be reclaimed from the receiving bank.
  3. If an examination by our lawyers shows that the provider has probably acted in a dubious manner, we file criminal charges on behalf of our clients with the competent prosecution authorities. The Herfurtner law firm is in constant exchange with public prosecutors’ offices, which direct nationwide investigation proceedings. In most cases, there are many hundreds or even thousands of people involved in these investigations. The investigations also regularly extend abroad. In recent years, the public prosecutor’s offices have had significant successes in investigating several cases.
  4. If no solution with the operator of the investment platform is conceivable, a complaint should be filed with the responsible supervisory authority. The supervisory authority reviews the facts and has the possibility to order the investment service provider to pay a refund. Our client will then be reimbursed the amount by the service provider. Addresses for complaints can be, for example, financial supervisory authorities and financial ombudsmen.
  5. If transactions have been carried out on foreign accounts, the financial supervisory authorities and banks based abroad can also be notified. They will then often initiate additional investigations of their own. This also serves the purpose of securing funds in the bank accounts and subsequently repaying them to our clients.