Vitacapitals - Liechtenstein Financial Supervisory Authority warns

Vitacapitals – the company describes itself on its own homepage as a provider of trading solutions for the financial markets. Vitacapitals offers its clients the possibility of online trading. However, the Liechtenstein Financial Supervisory Authority has issued a public warning about Vitacapitals.

If you are thinking of investing with Vitacapitals or if you are already a client of Vitacapitals, these questions are certainly essential: Is the company licensed by an official European financial supervisory authority? What possible courses of action are available to you as a client of the provider in the event of losses?

What evidence is available to assess whether the provider is a trustworthy service provider? The blog post prepared by our firm’s lawyers working in the legal field of banking and capital markets law provides many answers to these questions.

In addition, we are very happy to provide interested readers with individual information.

Table of contents

Vitacapitals Experience
Website
Contact information
Licensing
Authorities warning
Digression – basic tips
Legal advisors advise on Vitacapitals

If you have any doubts about the suitability of Vitacapitals’ offer, we are at your disposal and will advise you in case of any uncertainties or problems. Please send us a message via our online form. We are at your disposal for a free initial consultation.

Vitacapital’s experience

On its own website, Vitacapitals LLC describes itself as a broker-dealer registered in Singapore. Vitacapitals also offers its clients access to the most important asset classes and global markets. As a Vitacapitals client, you also get access to all options markets and stock markets in the USA.

In addition, Vitacapitals says it maintains relationships with outstanding investment houses, software providers, members of the stock exchange and custodian banks. Furthermore, Vitacapitals customers benefit from a customer service that can be contacted in several languages.

Furthermore, Vitacapitals is a contact point for professional traders all over the world, who are offered solutions for direct access to securities trading. According to Vitacapitals, the company caters to every client’s needs by offering a variety of account, execution and trading solutions.

In addition, the Vitacapitals website provides an overview of the various trading accounts that can be used for online trading with this provider:

Student account: Minimum deposit 250 euros
Standard account: Minimum deposit 5,000 euros
Islamic account: Minimum deposit 10,000 euros
Investor account: Minimum deposit 100,000 euros
VIP account: Minimum deposit 500,000 euros
VIP Platinum Account: Minimum deposit 1,000,000 euros

Vitacapitals website

Information on the Vitacapitals offer can be found on the company’s German website at the URL vitacapitals.com/de.

Imprint

According to §5 of the German Telemedia Act (TMG), there is a general obligation to provide imprint information in Germany. This obligation to “identify the provider” applies to all commercially managed WWW pages. This is because this information is intended to inform visitors to a WWW page who is behind the site.

Last but not least, the address of the website operator plays a role in this context, if legal claims are to be enforced against him. Another decisive factor here is the fact that the obligation to maintain an imprint also applies to foreign financial providers who conduct their business activities in this country.

However, no legally binding imprint could be found on the Vitacapitals website in January 2022.

Domain Information

A domain is a globally individual, special name for a logically delimited part of the web – for example, an Internet presence. We found the information for Vitacapitals on 26 January 2022 and got the following result: Registry domain ID: 2631449720_DOMAIN_COM-VRSN Registrar WHOIS Server: whois.reg.com

Registrar URL: https://www.reg.com Updated Date: 2021-08-04T14:42:57Z Creation Date: 2021-08-04T14:08:38Z Registrar Registration Expiration Date: 2022-08-04T14:08:38Z

Management

The naming of the responsible persons is a sign of transparency. At the time of writing, the Vitacapitals website does not contain any information on persons responsible for the subject matter.

Contact details

This information on the location and on how to reach Vitacapitals could be found on the provider’s website in January 2022:

Call number: n. A.
Provider name: Vitacapitals, registered as “LoyalTech” LTD
E-mail: support[a]vitacapitals.eu
Address: Dr. Grass-Strasse 12, 9490 Vaduz, Liechtenstein

If problems should arise, the long distance between the company and the financier can cause complications in clarifying them. As a rule, investors within the European Union have somewhat more legal protection and more chances to enforce their rights – also and especially in case of losses – if necessary with the help of legal assistance.

What information is available about the company’s review by a European financial supervisory authority?

No information is given by the company in January 2022 about an inspection by a European financial supervisory authority such as the FI (Sweden), the FMA (Austria), CySec (Cyprus) or the CMVM (Portugal).

Therefore, one should not necessarily assume that the company has the indispensable licences needed to do business in the European Economic Area.

Vitacapitals – Warning from the Liechtenstein Financial Supervisory Authority

Warnings are issued by authorities and law firms at regular intervals. This does not automatically mean in every case that it is an investment fraud. As early as November 2021, a public warning was issued by the FMA, the Liechtenstein Financial Supervisory Authority, on the subject of Vitacapitals.

The authority wanted to point out that Vitacapitals, LLC, Vaduz, did not have a supervisory licence from the FMA and was not authorised to provide financial services requiring a licence in Liechtenstein.

Furthermore, the FMA strongly advises against making investments via the website of Vitacapitals or generally responding to offers from this company or transferring funds.

Excursus: Online trading as a popular fraud scheme

Quite a few online traders advertise with the claim of how convenient it is to trade profitably and achieve considerable returns. This is supported on the companies’ websites by suitably positive and light-hearted imagery.

Nevertheless, one should take into account that one can equally encounter a dishonest service provider who has fraudulent intentions.

Our law firm is aware of several cases of rip-offs on the internet where private investors have guilelessly set up an account with an online provider, deposited their savings and apparently executed a wide variety of trades.

In fact, however, they have been deceived by a systematic internet fraud, because despite allegedly high account balances and fictitious profits, these clients never received a payout. The problem is more widespread than one might think.

More and more often, interested investors come across websites on the World Wide Web where they are led to believe that they will get rich quickly and that the investment products will be extraordinarily profitable.

Moreover, the creators of such websites invest a lot of time and money in a professional appearance that gives the impression of a serious provider. This makes it difficult for most private investors to realise early enough that it is not a serious offer, but instead a scam.

Losses with Vitacapitals – What you can do

Have you lost capital in investment transactions? In this case, you should act quickly. First of all, you should refrain from further transfers. It is also advisable to contact the company to find out the reasons for the losses and to find out what options are available to recover the lost investment.