Alt Saving – According to statements made on the website of the provider, the online broker is a service provider for online trading in the areas of shares, forex and cryptocurrencies, which provides its customers with various services. Accordingly, Alt Saving takes care of a high profit. Are you encountering difficulties with the distribution of your investment? Our lawyers can help you with claims against Alt Saving.

Alt Saving – Reviews

Currently, there is an extremely high number of online trading platforms such as Alt Saving. As a result, investing in the unpredictable financial markets has never been easier, but also riskier. Especially because there are numerous options, choosing a provider can be time-consuming and daunting. Especially if it is to suit your personal investment plans. Are you thinking about investing with Alt Saving? Then the following aspects are relevant for you as an investor.

  • Licensed online brokers, reputable platforms, costs and commissions, offer options and customer reviews are only selected criteria that you would have to consider when making your final decision.
  • A wide range of order types can be used in the area of trading on the internet.
  • Access to the international financial markets is becoming more convenient and affordable for investors through online investments.

The following information is general advice for investors – regardless of the platform you invest in.

Is Alt Saving authorised by financial regulators?

Both the financial markets and the protection of investors benefit from rules of conduct and organisational responsibilities. Equity services firms and companies like Alt Saving must comply with a wide range of conduct standards. The same applies to their employees. This is to avoid conflicts of interest and the associated disadvantages for investors.

This includes the duty of the financial services provider to inform its corporate clients about the most significant features of the transaction before sealing it. This applies both to the individual investor and to the investment itself. According to this idea, extended facts are necessary for corporate clients who wish to engage in highly speculative or risky transactions. Towards their clients, providers such as Alt Saving have a duty of care.

This goes far beyond the provision of an offer or service. Does the service provider have an authorisation to sell investment products? You should definitely check this. To do this, you can consult the broker check directory of a financial supervisory authority and type the brand name of the financial service provider into the search mask.

Beware – in case Alt Saving works with tight deadlines

Feeling the pressure of a tight deadline? Is the service provider enticing you with an exceptional offer, but you are under pressure to make a choice quickly? This is certainly not the best idea, because it is usually a ruse. Do not rush into anything! Not only can you receive serious offers now, but you can also invest capital with Alt Saving in the future. To get where they want to go, criminals know exactly what to do.

They try hard to get as much information as possible about their target person through cleverly crafted enquiries. In addition, they ask about the other person’s condition, for example whether he or she is home alone or whether he or she keeps cash at home. Furthermore, they play a game of “wait and see” to tire out the person.

They can keep their counterpart on the phone for a very long time until he or she agrees to go to the bank and hand over cash and additional valuables to the criminals. In one such scam, time pressure is imposed on the victim. With this very strategy, the injured party is made to ignore his own vigilance. Topical support scams use the same formula.

Since the contacted person’s computer is presumably infected by a particularly serious computer virus, the callers, presumably acting on behalf of Microsoft or such a service provider as Alt Saving, demand urgent payment of a maintenance contract in English with an Indian accent. The criminals maximise the stress, in the way that they threaten the targeted persons to make them pay if their computer is infected and transmits the infections.

Unauthorised orders? Trustworthy online brokers never act alone

Placing orders for transactions in shares without the account holder’s consent can, in individual cases, lead to a jump in the price of certain shares. This applies in particular to open market transactions in illiquid foreign securities (over-the-counter market).

You should therefore remain cautious if you are asked to disclose personal data about the investment with Alt Saving completely without your consent, with reference to supposedly profitable transactions or profit announcements. You should never give your International Bank Account Number, Business Identifier Code and other bank codes to anyone you do not know. Nor should you disclose your bank account or custody account numbers or passwords.

Do not give custody account documents or securities statements from Alt Saving to a third party who is a stranger to you. Callers posing as financial advisers, brokers or employees of a financial regulator are also dangerous.

Recognising investment fraud in general

Do you want to invest with Alt Saving? In this case, you should find out all elementary information about the company. Investment fraud is a special form of fraud. The criminal promises or deceives a larger group of people about a lucrative investment in the capital market. Capital investment fraud is punishable by a prison sentence of up to three years or a fine, in accordance with § 264a StGB.

Sometimes subsequent services and tactics can be considered as capital investment fraud:

  • Unsolicited telephone advertising calls, so-called cold calling
  • Investments in shares, funds and certificates
  • Scammers use the brand name of the service provider Alt Saving and clone the company
  • Boiler Room Scam, a cold call in which investors are sought by phone call

Those who have fallen for investment fraudsters have often invested a lot of assets. What can you do in case of investment fraud?

  1. Withdraw or contest contracts: Affected persons who have concluded a contract can withdraw or contest the said contract in the case of investment fraud.
  2. Involve the police and financial authorities through a legal expert: There are collective police proceedings against specific fraudulent companies in the FRG and also abroad. The criminal investigation department is authorised to have the criminals’ accounts blocked and to keep the money safe. The public prosecutor’s office also becomes active.
  3. Claim damages: People who were not advised correctly can assert claims for damages against the investment advisor.
  4. Reclaiming capital: If payments have been made via the credit card, this can be reclaimed in several cases by calling in a law firm. In the case of bank transfers from the current account, this can usually be recovered by bank order.

Broker commission: Make sure you get clear information in good time

Before investing with Alt Saving, find out how much of your investment amount is used to cover costs, fees and commissions. This is a good time to examine the information provided by service providers in detail! Investors must be informed of all fees payable and their impact on the return from investment service providers. In addition, remuneration must be listed separately.

Provided that you request a detailed overview of all fees, the providers are obliged to give you this information. For obvious reasons, an online broker like Alt Saving is normally interested in as many transactions as possible. In quite a few cases, the costs are so enormous that it is difficult to make a profit. The costs can even eat up the invested assets in a very short time. Therefore, be sure to pay attention to the costs!

The trading fees of the online broker must be publicly available. The clarity of the cost structure is also set out in the applicable regulations and licensing. In connection with a violation, the provider’s licence can be revoked.

Payout of Alt Saving not made? Seek legal advice immediately

If you have already made investments with Alt Saving and would now like to get them back, there are several approaches.

  1. If an assessment by our lawyers would substantiate the suspicion that the provider may have acted fraudulently, we file a complaint with the competent criminal authorities on behalf of our clients. Our law firm is in constant dialogue with public prosecutors’ offices, which manage investigation proceedings throughout Germany. As a rule, there are hundreds or even thousands of aggrieved investors in these proceedings. The investigations regularly extend to countries outside Germany’s borders. In recent years, the public prosecutor’s offices have repeatedly achieved important successes in their investigations.
  2. Often, a solution can be determined with the provider itself. In many cases, our law firm manages to reach out-of-court settlements with the providers. Our clients then get back their entire investment sum or a share of it.
  3. If there is a suspicion that the money accounts to which our clients have transferred money are part of a money laundering scheme, it is possible to have these money accounts blocked. Deposits into these accounts can then be reclaimed from the receiving bank.
  4. If transactions have been made abroad, the financial supervisory authorities and financial institutions abroad can be informed. They will then usually initiate their own investigations. This also has the aim of securing sums of money in the accounts and then repaying them to our clients.