VOYAFX – The alleged investment service provider VOYAFX presents itself on its website https://voyafx.com/ as a trading platform… Here, investments in forex, indices, commodities, shares and EFTs are possible. You have invested with VOYAFX and want your money back? The law firm Herfurtner will help you with any problems.

VOYAFX – customer-oriented online broker?

Currently there is an extremely high number of online trading platforms such as VOYAFX. Because of this, it has never been as easy but also risky as today to invest in the unpredictable financial markets. Especially because there are so many options, choosing a provider can be time-consuming and daunting. Especially if you want them to meet your particular investment needs. You have already invested with VOYAFX? In this case, the following points are relevant for you as an investor.

  • In online trading, you can use a variety of order types.
  • An ideal address for money investors who want to find out about securities, futures, binary options and cryptocurrencies is a website like this one.
  • Accessing international exchanges becomes more convenient and lucrative for investors through online investing.
  • Officially licensed brokers on the internet, reputable provider sites, fees and commissions, offer options and customer feedback are just selected considerations you need to take into account when making your final choice.

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

Does VOYAFX have an official licence? You have to pay attention to this

Both financial markets and investor protection benefit from rules of conduct and organisational responsibilities. Investment service providers and companies like VOYAFX have to comply with a number of regulations. The same applies to their employees. This requirement is intended to prevent conflicts of interest and the associated disadvantages for investors.

This includes the obligation of the provider to inform his corporate clients about the most essential characteristics of the transaction before sealing a financial deal. This applies both to the respective investor and to the investment itself. According to this idea, additional information is mandatory for corporate clients who want to engage in highly speculative or risky transactions. Towards their clients, companies like VOYAFX have a responsibility.

This goes far beyond the provision of an offer or service. Does the provider have an authorisation to sell financial products? You should definitely check this. For this purpose you can use the broker check directory of a financial supervisory authority and enter the brand name of the financial service provider in the search function.

Transfer abroad – also desired by VOYAFX?

Is it beneficial for you to transfer money abroad? Pay close attention to what you are doing. Countless investors have already lost assets in this context. It is conceivable that you lose track of where your money goes and how it is invested. When capital has been provided to a broker, it has often happened that the company did not invest the amount of money received as agreed or even not at all. There have also been cases where the company simply did not exist, even though it presented itself in a similar way to VOYAFX.

Apart from the licensed providers, there are many dubious online trading websites where a very similar procedure can be observed in the majority of cases. Potential investors are contacted by employees of the respective trading website. For example, with a phone call if the new customer has left non-binding contact information on the provider’s website. In many cases, however, they are also contacted by mass e-mails. These entice with seemingly lucrative investments.

The investor is directly provided with his own online broker, who instructs him on how to set up an online trading account and make his first investments. The investor initially feels well advised and online trading usually starts with smaller sums. But shortly afterwards, higher transfers are requested – very often to accounts located abroad. Such deposits are intended to increase the possible profits. Obstacles with dubious service providers finally arise when the investor wants a repayment.

This is often continually delayed or linked to additional payments such as alleged taxes and brokerage commissions. In the past, the perpetrators operated solely from dubious locations. Now they operate from completely different locations such as the United Kingdom (including London), the Netherlands, Canada, the Kingdom of Spain, Dubai and many others. For the vast majority of people, it is difficult to identify tricky methods.

Businesses often receive email orders with very large order volumes that are disproportionate to the typical purchase amounts. In order to lure the German company, large promises of profits are made. However, the enormous order volume only serves as leverage in conversations with the seller to demand correspondingly increased registration and licensing costs. It is not always clear whether the addressee of this payment is also the client of the products.

However, one can assume that sellers who are active abroad will not have to pay local taxes on deliveries to other countries in the near future. Check whether this also applies to investments at VOYAFX.

Investment orders you do not allow – protect yourself

Placing orders for securities transactions without the account holder’s consent can, in individual cases, lead to a jump in the price of certain shares. This applies in particular to open market transactions in illiquid foreign shares (over-the-counter market). Therefore, remain sceptical if you are asked to disclose sensitive data about your investment with VOYAFX completely without your consent, citing seemingly lucrative deals or profit announcements.

Under no circumstances should you disclose your International Bank Account Number, SWIFT code and other bank codes to anyone you do not know. You should also not disclose your bank account or custody account numbers or passwords. Do not give custody account documents or securities statements from VOYAFX to someone you do not know. Callers posing as investment advisors, brokers or employees of a financial regulator are also unpredictable.

Take legal action if online broker does not pay out

Investors are often wooed by an “online broker” or a call centre representative after they have registered on the alleged online trading platform. The intention is to persuade the investor to increase his permanent investments in order to maximise his profit. This is also an initially legal goal of the service provider VOYAFX. Shortly after the investor has deposited his capital, possibly preliminary profit developments are shown on his user account.

This should motivate the investor to continuously invest in the financial instrument. The operators of the trading platform, on the other hand, can use fraud software to fake account changes and earnings, even without the consumer being aware of this.

Check that accounts can be authenticated equally at VOYAFX.

In reality, no trading takes place at all on several platforms. Instead, the assets paid are forwarded by the scammers to accounts outside Germany’s borders. This is not noticed by the buyers for the time being. The “online brokers” delay the disbursement of the represented profits by demanding the payment of apparently due taxes and processing costs from the investors.

These manipulations only serve the purpose of increasing profits. Sooner or later, the connection breaks completely. The money invested is used up. From that moment on, the only thing left to do is to go to a lawyer to launch the necessary measures.

Unsolicited offers to retrieve deposits?

Anyone who has ever lost capital through a fraudulent investment platform knows how devastating this can be. That alone is terrible enough. But in addition, the fraudsters behind the bogus model contact you by email or phone within a short period of time. This time, however, they do not pretend to be financial advisors from VOYAFX. Instead, they guarantee to help recover the lost money in exchange for an upfront payment.

Many criminals even seem to have been hired or commissioned by reputable institutions such as a financial regulator. After stealing your personal data, the perpetrators often pose as good Samaritans. They promise to assist you in recovering the stolen money. Even if you have invested money with a service provider like VOYAFX, your contact details may be stolen. Those who have lost an immense amount of money are predominantly desperate.

The criminals take advantage of people’s worry by posing as “recovery” companies. They offer their services under the bogus pretext of helping them recover their assets. That is, they make dubious assurances that they will recover the lost capital.

Payout from VOYAFX does not work? Call in a law firm quickly

In order to be able to assess whether you have a repayment claim against the broker VOYAFX, it is necessary to evaluate your case in particular. The lawyers of the Herfurtner law firm will do this for you in the context of a free initial consultation. The starting point for this assessment is always the facts of your case. In addition, similarities to similarly situated cases can very often be noted. You therefore benefit from the extensive experience of our lawyers.

After the complete examination of all documents and the legal classification, the procedure is first directed against the provider VOYAFX itself, should certain breaches of duty be verifiable. In order to be able to prove these breaches of duty, the contract papers, the email communication and possibly other documents should be examined. Furthermore, regulated online trading providers are also obliged to make and keep telephone records of conversations with clients.

The demand for the release of these recordings and the subsequent analysis is nevertheless a sensible 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 judicial proceedings.

The financial institutions and crypto exchanges that are on the receiving end should also be focused on in this context. Due to the fact that the sums of money involved are usually considerable, the question repeatedly arises as to whether the institutions have fulfilled their duties to provide information and their obligations under the Money Laundering Act.

It is not possible to make a general statement in this regard; rather, the case of the individual must be considered. The same applies to the beneficiary on the receiving side, who is very often not identical with the financial service provider itself. Under certain circumstances, the financial service provider must also be held liable if breaches of duty can be proven.

After civil law options have been exhausted, the procedure remains at the criminal law level if the initial suspicion of a criminal offence is substantiated. This requires contacting investigating authorities at home and abroad and coordinating further measures.

Many federal states have now established special departments for the topics of fraud in connection with online and crypto trading. The lawyers of the Herfurtner law firm are in regular contact with these departments. It should not be forgotten that providers also offer helpful information on the owner of the web address. However, contacting the providers, who are often located outside of Germany, is extremely difficult for the layperson.

Furthermore, financial supervisory authorities in Germany and abroad are helpful contact points for aggrieved investors. In addition to the complaint against the respective online trading provider, which is intended to protect other potential investors from investments, further information can possibly be obtained from the financial authorities as a source of information. In many cases, this information makes it possible to link investigative proceedings in the Federal Republic of Germany, Austria and Switzerland.