Alternatives Broker: Bafin warns consumers about new website alternativeseu(.)com

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website alternativeseu(.)com. According to information available to Bafin, this website – formerly known as alternatives(.)broker – is being used to offer financial and investment services without the required authorisation.

The provider claims to be regulated in Switzerland, Canada and the European Union. This is false. The provider accepts funds from investors through third-party companies, including an account held by STil-eConcept UG, against which Bafin has issued a ceasing order.

Anyone providing financial or investment services in Germany may do so only with authorisation from Bafin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by Bafin can be found in Bafin’s database of companies.

Bafin is issuing this warning on the basis of section 37(4) of the German Banking Act (Kreditwesengesetz – KWG).

Bafin, the German Federal Criminal Police Office (BKA) and the German state criminal police offices (Landeskriminalämter) warn consumers to watch out for internet-based financial fraud. If you wish to invest money online, exercise the utmost caution and do the necessary research beforehand in order to identify attempted fraud at an early stage.

In the Recognising financial fraud section of our website, you can view Bafin’s current warnings about companies operating without the required authorisation and find out how to protect yourself from fraud on the financial market.