Xprestrade – An ostensibly intelligent automated trading software that exercises forex trading for the money investor. Consumer protectionists warn to the side https://xprestrade.com/
If you have invested with Xprestrade and there are problems with the payout, the lawyers of the Herfurtner law firm are ready to help you.
Xprestrade – Wealth overnight or total loss?
Typically, the contact request by criminal online brokers takes place by telephone. potential investors looking for a lucrative investment type in phrases like “Bitcoin Investment” or “Crypto Trading” in the internet search and end up on websites like Xprestrade.
These guarantee high and easily achievable profits. After providing personal contact information, brokers from various providers get in touch, who help the consumer open a trading account and give instructions for an initial payment of between two hundred and fifty and five hundred euros, which often has to be made by credit card.
In addition, there are often cases of fraudulent investors being contacted by online brokers via social media apps such as Facebook, Instagram or Telegram or dating portals such as Tinder and Lovoo. While the conversations are unsuspicious at first, after a while the topics of cybertrading and crypto trading come up.
The contact person claims either to be experienced in these areas himself or to know someone who is passing on insider information to him. Finally, the defrauded investors receive a hyperlink to an online trading platform, create an account there and are defrauded of their deposits.
This shows similarities to the Romance Scamming scam. After the initial deposit, the customer is assigned a personal account manager who is supposed to take care of the customer’s account and the alleged investments.
As a rule, the customers receive telephone calls several times a week in which the investments and the alleged results are communicated. In the process, contact is made – as with Xprestrade – almost exclusively via the account manager himself.
A callback is usually not possible for the consumer. Extraordinarily high earnings are quickly achieved on the trading account, at least apparently. In the meantime, it has become clear that the perpetrator groups use computer software that simulates the trading actions, so that no real trading is carried out.
As soon as the profits have continued to increase, the account manager persuades consumers to make further investments in order to be able to achieve allegedly higher earnings as with Xprestrade. Likewise, additional returns are guaranteed to be transferred to the trading account.
Such subsequent payments by the investor are usually made by bank transfer to accounts in Eastern Europe (Bulgaria, Hungary, Lithuania, etc.) or Asian countries. Often also to crypto exchanges such as Kraken, Coinbase, Nuri, etc.
In order to be able to use the discretion in crypto trading, the apparent brokers instruct the customers to open accounts (so-called digital wallets) at the crypto exchanges or open such wallets themselves via remote access via AnyDesk or Teamviewer with the customer’s consent.
After the investor has paid money into the wallet, the criminals access the investor’s computer again, buy Bitcoin or similar cryptocurrencies from the transferred money and forward them to their own wallets. Meanwhile, it is suggested to the customer that his assets have arrived in his trading account.
After further immense profits on the customer’s account, customers usually want to request a payout or at least a partial payout. However, this is refused for various reasons or linked to the condition of additional investments.
Additional information on providers such as Xprestrade can be found in the following sections. The following are general suggestions for investors – regardless of the platform you invest in.
Xprestrade checklist: Assessing service providers correctly
The following list serves to protect you from online brokers with fraudulent intentions.
- Is a company like Xprestrade listed in the company database of the respective EU supervisory authority?
- Is there a complete imprint on the website?
- Find out as much as possible about the company and the product you want to buy (Google, blog entries, online map services).
- Do not use any remote maintenance software that gains access to your end devices.
- Don’t be fooled by assurances of excessive returns without the risk of losing assets.
- In which city is the company’s head office?
- Is the trading service provider Xprestrade a company licensed by the Federal Financial Supervisory Authority or in another state of the EU?
- Ask yourself: What is the name of the contact person I should get in touch with?
- Identity theft is a serious nuisance: please do not leave a copy of your photo ID. Criminals often ask you to do this.
- Do not accept unsolicited investment advice from strangers via solicitation calls or emails.
Online broker Xprestrade calls by surprise?
Have you ever received a phone call from a stranger who presented you with an offer? Under no circumstances should you respond to it without checking carefully. Unsolicited calls are illegal. “Cold calling” is expressly not permitted with investment service providers and similar companies such as Xprestrade.
There are also groups that claim to work for reliable online trading platforms. In this way, they want to get people to entrust them with their personal data. Often you are asked to deposit more money after your first deposit. Phone scammers are always coming up with new scams to rob investors of their savings, cash and additional valuables.
A common strategy of the criminals 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 least concentrated.
In addition, the offenders pretend at the beginning of the conversation that they and the person being called know each other. The other possibility is to pretend that the callers are customer-oriented.
By doing this, the offenders give the person they are talking to on the phone a feeling of goodwill and trust. Check whether you are actually dealing with the Xprestrade company when you are contacted by phone.
Have you had any experience with unauthorised orders?
Placing orders for securities transactions without the account holder’s consent can, in individual cases, lead to a jump in the price of particular shares. This applies above all to open market transactions in illiquid foreign securities (over-the-counter market).
Therefore, remain sceptical if you are asked to disclose personal data about the investment at Xprestrade completely without your consent under reference to supposedly profitable transactions or profit announcements.
You should not provide your International Bank Account Number, BIC and other bank codes to anyone you do not know at any time. Similarly, you should not disclose your account or deposit numbers and passwords.
Do not hand over custody account documents or securities statements from Xprestrade to a third party you do not know. Callers posing as investment advisers, brokers or employees of a financial authority are also unpredictable.
Reliable brokers do not refuse to pay out
Buyers are often wooed by an “online broker” or a call centre employee the moment they have registered on the apparent trading platform. The aim is to get the investor to increase his permanent investments in order to maximise the income.
This is also a legitimate goal of the online broker Xprestrade. Shortly after the investor has deposited his money, the first profit developments will probably be displayed on his user account. This should encourage the investor to continuously invest in the financial instrument.
The operators of the trading platform, on the other hand, can use fraud software to feign false account changes and earnings without the buyer noticing.
Check that the accounts can also be verified at Xprestrade.
In reality, there is no trading at all on various online trading platforms. Instead, the money transferred is transferred by the perpetrators to bank accounts abroad. This is not noticed by the clients at first. The “brokers” delay the disbursement of the reported money by demanding that investors pay what appear to be taxes and commissions.
These tricks only serve the purpose of increasing profits. Sooner or later, the connection breaks down completely. The capital paid has been used up. From that moment on, the only thing left to do is to go to a lawyer to launch necessary measures.
Sudden offers of help to recover capital?
Anyone who has ever lost funds through a fraudulent investment platform knows how fatal this can be. That alone is bad enough. But on top of that, the rip-off artists behind the bogus model contact you in a manageable amount of time by email or phone call.
This time, however, they do not pretend to be online brokers from Xprestrade. Instead, they guarantee to help recover the stolen capital in exchange for a payment. Many criminals even seem to have been hired or commissioned by reputable companies such as a financial regulator.
After stealing your personal information, the rip-off artists often pose as good Samaritans. They promise to help you recover the stolen money. Even if you have invested money with a service provider like Xprestrade, your contact details may be stolen.
Anyone who has lost a large amount of money is usually desperate. The criminals take advantage of people’s desperation by posing as service providers to retrieve funds. They offer their services under the bogus pretext of helping them get their money back. This means they dubiously guarantee that they will get back the lost assets.
Refused a payout from Xprestrade? Get a law firm involved quickly
Investors who have suffered losses with a company like Xprestrade, or who are having difficulty getting their winnings paid out, should first and foremost refrain from making further payments. After that, it is definitely advisable to seek legal advice and have them clarify all options for compensating your funds.
It is important: act quickly, do not lose hope, seek legal help Do you have questions about Xprestrade? In this case, our legal advisors are at your disposal. Feel free to contact us to discuss Xprestrade.