Finotrend - Experiences with fraudulent online broker

The apparent online broker Finotrend claims to be a secure platform for online trading with Forex, CFDs and ETFs. However, there is increasing evidence that FinoTrend has a conspicuous number of inconsistencies. More and more traders are reporting telephone terror, rip-offs and investment fraud at FinoTrend. All have lost their capital invested with FinoTrend. More and more doubts are spreading. Meanwhile, many FinoTrend investors are worried that it is an investment scam. The FinoTrend website is still open. All FinoTrend traders are wondering if they have been victims of an investment scam? And what can FinoTrend investors do if the suspicion of investment fraud is substantiated? How can FinoTrend traders get their money back? Does it make sense to file a criminal complaint against FinoTrend with the police? What help is available in the event of investment fraud?



FinoTrend: Questionable promises on the website!
What do stunned investors read on "FinoTrend is an online forex and CFD broker dedicated to providing our clients with a comprehensive trading experience. Thanks to our state-of-the-art client portal and industry-leading encryption measures, you can rest assured that your funds are protected. FinoTrend gets the lowest cost from our liquidity source by using advanced bridging technologies. Our payment methods are lightning fast and allow accounts to be credited and debited quickly. Opening an account with FinoTrend is easy, and the verifications are even faster, so you can start trading immediately. We've got your back when you're on the go! With FinoTrend's mobile internet trading tools, you can trade on the go and react quickly to market changes to take advantage of opportunities. FinoTrend is dedicated to providing its customers worldwide with a simple web-based platform that provides access to over 300 of the most popular tradable instruments." This is just a small text of the over-the-top promises prospective customers will find on FinoTrend's website. Not one of these full-bodied promises from FinoTrend has been delivered. Unfortunately, suspicious business conduct tends to make for unhappy investors and miserable experiences!

FinoTrend: Hide and seek with the domain entry!
Remarkable for the business practices of the FinoTrend makers is that the website does not contain any imprint with full details of the legally responsible operators of the website. If one looks at the corresponding domain data of the website, one finds that the website was only registered on 27.09.2021 by a Finseas World Ltd. 

FinoTrend: Who is behind it?
Many investors will find it rather difficult to answer this question, as the FinoTrend makers do everything they can to conceal the true circumstances. This is not unusual, however, as the perpetrators often operate various of these websites with the supposedly same business model and quickly put them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? On the website there is no information about this. A business address is completely missing, only an e-mail address can be found in the contact details. In the company register of Great Britain a Finseas LTD is found which possibly has an offshoot, in the form of the letterbox company Finseas World Ltd, on the Marshall Islands. Finseas Ltd was founded on 30.06.2020 by a Hungarian citizen, Lyudmila Mohacsek. This has already been targeted by the FCA in connection with the fraud scheme. It is quite possible that there is also a connection with the now defunct fraudulent online broker

FinoTrend: The customer acquisition of the investment scammers
The same approach can be found here again and again:  In order to attract new traders, FinoTrend's offers are advertised in every conceivable media and channel. For example, advertisements are placed in social media such as Facebook. Often, these recommendations are inaccurate claims. In addition, they upload videos on Youtube or Vimeo in which prospective customers are convinced with false references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with the erroneous reference to the TV show "Die Höhle der Löwen". At the same time, a mostly aggressive affiliate program is launched to encourage others to intensively promote FinoTrend.

FinoTrend: Criminal business practices!
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their many years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software such as "Anydesk" or "Teamviewer" on their computers so that assistance can allegedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. In some cases, even small sums are returned in order to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?

FinoTrend: Repayment of the money is subject to conditions
However, an exit is then usually no longer possible, rather a repayment of the money is linked to further payments. This is where the employees come in, claiming alleged tax debts and commission payments. These would have to be settled first, then it would come to the disbursement of the allegedly obtained profits. In addition tax and commission calculations are sent to the investors, which are frequently decorated with falsified coats of arms and must be paid naturally urgently. A clearing with the allegedly obtained profits is however never possible. If one refuses these further payments, the alleged profits are often turned into losses and the customer is harmed to the maximum. With it the fright is however usually not to end, but the investors are confronted frequently permanently with calls of other dubious offerers, which indicates that the contact contacts of the investors are traded further among the investment cheats. In the end, the "saviour" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, he's part of the scam gang. The next rip-off! And of course the "rescuer" also wants a small fee - in advance!

FinoTrend: Is it investment fraud?
The online broker FinoTrend is not legitimised. FinoTrend is not regulated by a recognised European supervisory authority, such as the UK Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Similarly, there is no approval from the Swiss Federal Financial Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. It is not difficult to see that FinoTrend is a scheme of capital investment fraud. All investors harmed by FinoTrend are advised to consult an investment fraud lawyer as soon as possible.

FinoTrend: Where do the fraudsters operate?
Certainly, investors are dealing with investment fraud at FinoTrend in Germany, Switzerland and Austria. FinoTrend's illegal activities were by no means limited to German-speaking countries. Because FinoTrend also targets English-speaking traders, it is only a matter of time before those defrauded by this group of speakers come forward. Going through the list of regulators is advisable before making any financial commitment to reduce the risk of becoming a victim of an investment scam.

FinoTrend: Investors want their money back!
The circumstances are by far more promising than it seems. The aggrieved traders can take legal action against those involved in the investment fraud and reclaim the money invested. At the moment, it is not likely that the FinoTrend investment fraudsters will be caught in the near future, but there is nevertheless reason to hope. The reason for this is the fact that the money transactions took place via accounts provided by reputable financial institutions. Their managers obviously failed to check the traders' deposits, some of which were large and therefore subject to controls, and their forwarding for legality. Such negligence enabled the investment fraudsters to carry out their criminal activities in the first place.

FinoTrend: You want your money back! How does it work?
Equipped with this knowledge, the interested parties would not have agreed to invest with FinoTrend. Now the only way left for those who were defrauded is to seek compensation for damages. Many investors cannot even imagine that there is any real chance of ever seeing their money again. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions are obliged to take action against money laundering. This is where we come in if there is a good chance of success. To this end, relevant questions should be answered. Where have the funds moved by FinoTrend been taken? Are there realistic prospects that the victims of the investment fraud will get back the money they invested with FinoTrend? What actions are due from now on? Such questions can best be answered by a lawyer specialising in investment fraud.

FinoTrend: Who can help?
What can be done in the event of investment fraud? What help can the victims of FinoTrend hope for in the event of investment fraud? FinoTrend victims will ideally find the help they need from an experienced investment fraud lawyer. He or she will be able to take care of your FinoTrend case both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A trading lawyer is also an option because they are also aware of the methods used by fraudulent brokers such as FinoTrend.

FinoTrend: Follow the money trail!
Such abuses on the grey capital market have been pursued by the internationally active investor protection law firm Resch Rechtsanwälte for more than 30 years. Accordingly, FinoTrend's approach is nothing new. Over the years, Resch Rechtsanwälte has developed effective and powerful tools for tracking down the seized capital and tracing the money trail. In times of the Internet, it has become really difficult to make funds disappear. The sooner the victims follow the money trail, the better the chances are that they will get back their invested capital. What is important now is that those harmed by FinoTrend take action without delay.

RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of FinoTrend and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.