Windmine – the company describes itself on its website https://www.windmine.cc/ as an online broker. Windmine offers its clients a wide range of services in the field of cryptocurrencies.
If you have invested in Windmine and there are problems with the distribution, the lawyers of the Herfurtner law firm are available to help you in word and deed.
Windmine – Online Broker with serious intentions?
Currently there is an enormous number of providers such as Windmine. As a result, investing in the unpredictable financial markets has never been as easy but also as risky as it is today. Especially because there are countless options, choosing a financial service provider can be time-consuming and daunting.
Especially if it is to suit your individual investment plans. Are you thinking about investing money with Windmine? Then the following aspects are important for you as an investor.
- In online trading, you can use a number of order types.
- Entry to global exchanges is becoming more convenient and lucrative for money investors through online investing.
- State-regulated brokers on the internet, trustworthy platforms, costs and commissions, product options and key data are just some of the features you need to consider when making your irrevocable choice.
The following statements are general advice for investors – regardless of the platform you invest in.
Identify trustworthy providers and invest profitably
Investors have a wide range of investment options to choose from, with reputable and questionable providers vying for their attention. There are many clues that a financial service, as well as a product, is not reliable, and it is essential to have a focus on this.
Here are the details to look out for once you invest your hard-earned capital. Banking, financial services and insurance companies such as Windmine are only allowed to operate in Germany with state authorisation. The companies may have received a licence, but this in no way means that the products sold are of excellent quality.
If a prospectus or information sheet approved by the German financial supervisory authority has been published in advance, share certificates and investments can also be made available to the general public. BaFin alone ensures that the prospectuses are complete, catchy and coherent.
Windmine’s prospectus or information sheet is not necessary in every context. Before investing, you should think about your sustainable expectations and investigate whether you have the financial means to achieve them. Do not rush the process.
Before investing your assets in a capital investment, take time to review the pros and cons. Do not make a choice promptly, even if you have consulted with others.
Are there any trial investments with Windmine?
Does Windmine tempt you to try investments with a smaller sum? Can’t find any data on the company because it is supposedly a recently founded company with highly interesting business ideas? The probability is high that the “insider” tip is pure rip-off.
After a short time, the online broker will tell you that your investment was a huge success and encourage you to increase your investment. The success of your trial investment may make you want to make further investments.
Here are some examples of dubious investment tips: “Give us just 5 minutes of your time and become a billionaire” , “With the automatic share profit method you will earn 3500.00 euros a month!” , “5-star share with a profit share of 47.88 %” Anyone who promises too much, and that too unsolicited, is rarely trustworthy!
But also check which promises and offers are presented to you by the investment company Windmine.
What does Pump and Dump mean?
The term pump and dump is used to describe a procedure in which the price of a share is artificially inflated by insiders. The same share is then sold at a loss to other investors. This is therefore a fraud. A manipulation that profits from the cluelessness of small investors and stock market novices.
This strategy is therefore prohibited on a controlled stock market and for providers like Windmine. The crypto market, on the other hand, is still by and large “Wild West” as far as such tactics are concerned. For this reason, extreme caution is required! Pump-and-dump scams are frequently encountered there in connection with the so-called altcoins.
The pump-and-dump scam is used by fraudsters to drive up the price of an unknown or even independently created currency. They achieve this by spreading disinformation on the WWW or on social media or by recruiting co-investors with unreasonable profit expectations.
Make sure that the provider of the windmine provides you with all the information you need on the subject.
Examine advertisements for online trading platforms for seriousness
Fraudulent internet platforms offer a variety of investment products that are advertised heavily on blogs and social networks in order to convince investors. In addition, “multi-level marketing” is used to solicit new investors. The advertising mainly emphasises the promise of immediate profitability.
In order to start investing, a potential investor must first create a user account with the online trading platform – like Windmine. Then the perpetrators contact the investor via a call centre and do everything they can to convince him to invest large sums of money.
The investors’ positive attitude towards cybertrading is partly reinforced by the idea of future profits. Buyers are more willing to invest in the future if they see exactly the kind of results they hope for. At this point, investors are misled by a manipulated trading algorithm about the true trend in stock market data and prices.
Windmine does not necessarily fall into this category. The criminals use their own unilaterally defined price values when calculating returns. This means that the provider has complete control over whether or not a profit is made. Until the supposed profits are distributed, this rip-off will continue.
When the moment of distribution arrives, the clients suddenly no longer have access to their accounts and the direct contact persons associated with them. The vast majority of investors lose all their capital invested in this illegal trade, forcing them to seek legal assistance.
Compare brokers: How much commission is realistic?
Before investing with Windmine, find out how much of your investment amount will be used to cover costs such as fees and commissions. This is a useful time to look in detail at the info provided by the service providers! Investors need to be informed about all costs included and their impact on the profit margin of investment service providers.
In addition, remuneration must be listed separately. Should you request a breakdown of all fees, investment service providers are under an obligation to provide you with this information. A service provider like Windmine is usually interested in as many trading transactions as possible for obvious motives.
Very often the costs are so enormous that it is difficult to make a profit. The fees can even eat up the invested assets in a very short time. Therefore, be sure to pay attention to the costs! The broker’s commission fees must be publicly visible.
The transparency of the structure of the costs is also specified in the regulatory requirements and licensing. In the event of an offence, the service provider’s official licence can be revoked.
Repayment of money invested in windmine: Increase your chances
If you have already made investments with Windmine and would like to reclaim them, there are several ways to do so.
- Often, problem resolution can be arranged with the provider directly. In many cases, our lawyers can reach out-of-court settlements with platform operators. Our clients then recover their full transaction amount or part thereof.
- If transfers have been made abroad, the financial supervisory authorities and financial institutions based abroad can also be notified in this case. These usually then initiate additional investigations of their own. This also pursues the intention of seizing sums of money in the bank accounts and then repaying them to our clients.
- If an examination by our lawyers confirms the suspicion that the service provider may have acted fraudulently, we file charges on behalf of our clients with the responsible law enforcement authorities. The Herfurtner law firm is in constant dialogue with public prosecutors who manage nationwide investigation proceedings. As a rule, there are many hundreds or even thousands of aggrieved investors in these investigative proceedings. The investigations repeatedly extend to other EU countries. In recent years, the public prosecutor’s offices have repeatedly achieved significant successes in their investigations.
- In the event that it is guaranteed that no solution can be found with the service provider, it is possible to file a complaint with the responsible supervisory authority. The supervisory authority checks the situation and has the possibility to order the provider to pay compensation. Our client will then be reimbursed the amount by the provider. Contact points for complaints can be, among others, financial supervisory authorities or the Financial Ombudsman.
- In the event of an arrest of the masterminds, claims of the investors who have suffered losses can be asserted in the course of court proceedings. For this purpose, we take our clients through the so-called adhesion procedure. In this way, we are able to obtain court titles for our clients against the alleged service providers. In most cases, these can then be enforced directly into the seized money of the fraudsters.
- If there is a suspicion that the bank accounts into which our clients have paid are part of a money laundering scheme, these accounts can be blocked. Deposits into these accounts can then be reclaimed from the receiving bank.