“Beware of City Trade Group (citytrade.group) Scam: Real Experiences and Warnings”

If there are problems City Trade Group (citytrade.group) there, you are not alone. I have bad experiences from affected investors. The payment does not take place. It could be a large scale scam.

Danger: That too City Trade Trustpilot profile (citytrade.group) doesn’t look too rosy. Two very critical voices can already be found there. In one case, someone says the entire site is a scam. This agrees with the descriptions I have already received.

Caution: It could be that there is a real company with a similar company name. Then the crooks try to cling to the good reputation of the “real” City Trade. This phenomenon is called identity theft and is becoming more common.

Claim your assets back from City Trade Group (citytrade.group) immediately!

I am the operator of the website

broker-betrug.de

and know the machinations of dubious trading platforms and dodgy financial advisors from the Internet. These are not petty criminals we are dealing with – but highly organized, international gangs of fraudsters.

Those affected by City Trade Group (citytrade.group) can send me a non-binding e-mail about what has happened. I’ll take a look and get in touch with one free initial assessment back to you. So you know how I, as a lawyer, assess the matter.

1. City Trade Group (citytrade.group) Scam?
2. Payout promised, then blocked?
3. Experiences first positive, then catastrophic?
4. Request a lawyer immediately free of charge.

Real experiences with City Trade Group (citytrade.group) – this is how the scam works!

A desperate investor has contacted my office who appears to have been cheated at City Trade Group (citytrade.group). He described his experiences with the payment to me in detail.

The data subject indicated that he was a victim of fraud. The scam is related to the trading platform City Trade Group (citytrade.group). In order to invest money, the person deposited amounts of bitcoin into the platform via Bitpanda.

City Trade Group (citytrade.group) is now charging disproportionately high fees for withdrawing funds. These additional fees are said to be necessary because the Blockchain-System requires the activation of the “Manual Payments” function.

Withdrawal impossible at City Trade Group (citytrade.group)?

The person concerned had previously been informed in the alleged CityTrade support chat that the fees for withdrawals would only be 0.0005 Bitcoin.

However, now CityTrade claims that the “Manual Payments” feature needs to be activated in order to withdraw the funds and demands for it extraordinarily high fees.

This sudden increase in fees, especially after the person has previously been confirmed with lower fees doubts about honesty and transparency by City Trade Group (citytrade.group).

City Trade Group website (citytrade.group) just a fake? All fraud?

Another person sent me the link to City Trade Group’s (citytrade.group) supposed “legal terms” and compliance. At first glance, all this reads like a real trading platform.

But don’t be fooled. The fraudsters who are currently up to mischief on the Internet know exactly how to create a deceptively real illusion. For any contract documents, AGB or others Legal Pledges you can contact City Trade Group (citytrade.group) do not leave. In particular, caution is advised when the “financial advisors” communicate via WhatsApp (see: WhatsApp fraud).

The experiences that have been reported to me, as well as the critical comments on Trustpilot, leave me with the Alarm bells are ringing. I’m not interested in how “professional” City Trade Group (citytrade.group) appears – but whether they payout done on time!

BKA publishes report on cybercrime

Inexperienced investors have been increasingly harmed in recent years. The BKA estimates the annual Damage to several million euros. Law enforcement agencies are improving their investigative methods to catch criminals.

In his Cybercrime Status Report 2021 the BKA reports a clear-up rate of 30 percent, which is high for online fraud. Criminals use the internet to remain anonymous. Foreign scammers make prosecution difficult. But the investigators are also successful in internationally networked fraud (see also Broker does not pay out).

Not only Germany affected

Incidentally, the constellation of investment fraud described here does not only affect Germany. Exactly this form of investment fraud also occurs in Austria and Switzerland:

Die Austrian Federal Police reports on investment fraud and arrests. Targeted investigations have helped the Austrian law enforcement authorities to combat money laundering and investment fraud. All of this is possible when fraud victims come forward quickly and take legal action.