Altreserve review — this is yet another attempt to warn traders about a Forex/CFD broker that cannot be trusted. Of course, they make many promises, and the offers of additional services may seem quite attractive. However, in reality, the only option clients have is to fund their accounts on the platform and forever forget about the money they deposited. Some might say we are being too harsh, but we have every reason to be, as you’ll find below.
Brief Overview
- 🖥Official Website: https://www.altreserve.net/
- ✈️Contact Address: Hardstrasse 201, 8005 Zürich, Switzerland (Prime Tower)
- 📞Customer Support: [email protected]; +41-71-77-93350 (CH), +44 191-300-5878 (UK), +1-450-914-5761 (CA), + +31-852-083-859 (NL), +61-251-108-280 (AU)
- 🔐Licensing and Accreditation: no
- ⏳Track Record: since 2024
- 🧰Specialization: Forex & CFD broker
- 🤝Terms of Cooperation: min deposit $5,000, spreads up to 0.2%, leverage from 1:5 to 1:50
- 💰Additional Services: Futures and Options trading, Savings plan, Staking, Mining, Compound Interests etc.
Altreserve.net Examination
The official website of Altreserve leaves a disappointing impression. No, the homepage looks quite presentable, as does the contact page. But it seems the developers ran out of motivation or time for the other pages. As a result, the remaining sections are dull texts, where even the headings are hard to distinguish.
Some may argue that the design of a broker’s website isn’t the most important thing. We can agree with that, but altreserve.net is also unimpressive in terms of content. It’s quite strange to see the following on the site:
- A menu section titled “Trading Avenues” that provides only basic information about the available markets.
- A complete absence of details about the trading platform being used.
- The omission of critical information such as the company’s registration location, date of establishment, financial reports, etc.
It gives the impression that the company’s staff either doesn’t know what traders care about or are deliberately hiding the most important details from them. In the first case, it suggests the broker is run by amateurs who have no clue about the services they intend to provide. In the second case, it points to a scam operation trying to deceive potential clients. Neither scenario is suitable for trading.
Company Contacts
The “Contact Us” page on Altreserve’s site is also far from perfect. The broker attempts to provide basic support contact options, including:
- A feedback form.
- An email address.
- Phone numbers in Switzerland, the UK, Canada, the Netherlands, and Australia.
- A Swiss office address.
However, a closer look at this information raises several questions:
- Why is a mobile phone number with a Swiss country code being used when there is supposedly a physical office in Switzerland? Have offices stopped installing landlines? Or is there no real address, and the company just grabbed the first one they found online?
- What prevented them from deploying live chat on the website? Is it a reluctance to offer traders the best way to resolve issues quickly, or is it simply because the company cannot afford to staff operators 24/7?
- Why are there no links to social media pages? Does the company have nothing to say to its audience? Or do they lack the resources to create and maintain active groups and channels? Perhaps they just don’t want clients from social media, especially those who could expose the broker’s shortcomings online?
In short, the company’s contact details are typical of most scam projects. We doubt this is a coincidence and believe the fraudsters are simply following a tried-and-true scheme that they see no reason to change since it’s making them money.
Key Conditions
Altreserve’s trading conditions are also far from ideal. Some of them can be found on the account types page. Users can open accounts of five types:
- Advanced. Minimum deposit $5,000, spreads 0.2%, trading commissions 5%, leverage up to 1:2.
- Premium Circle. Minimum deposit $25,000, spreads 0.15%, trading commissions 4.7%, leverage up to 1:5.
- Elite Circle. Minimum deposit $50,000, spreads 0.1%, trading commissions 4.1%, leverage up to 1:10.
- Prestige Circle. Minimum deposit $100,000, spreads 0.05%, trading commissions 3.6%, leverage up to 1:15.
- Diamond Circle. Deposit not specified, account only available by invitation, spreads 0%, trading commissions 2.3%, leverage up to 1:20.
At first glance, nothing seems out of place on this table. However, once you do the math, many questions arise.
- Spreads. With the current price of the EUR/USD pair at 1.0922, a 0.2% spread for the Advanced account equals 21.8 pips. Even the smallest non-zero spread on the Prestige account is 5.4 pips. This is while leading brokers offer spreads on this pair starting from 0.6–0.7 pips.
- Commissions. With a standard Forex lot size of 100,000 dollars, a 5% commission comes out to $5,000. Even at the minimum 2.3% commission on the Diamond account, traders would pay $2,300. Even if this is assumed to be the total fee for both opening and closing a trade, it still far exceeds the commission rates of any real broker, which are typically around $12–$14 per round lot (both opening and closing the position). With fees this high, a trader would quickly part ways with their deposit just through commissions.
The trading costs for clients are astronomical. And the table doesn’t even mention swap rates, which we assume are just as extreme as the published figures.
But that’s not all. The table includes a line that says, “Up to 25% Awaiting deposit” (the amount varies by account type). Without further explanation, it’s difficult for users to understand what this means. We assume it’s referring to a bonus added to the deposit after funds are transferred. Naturally, we’re curious how regulators, who supposedly oversee Altreserve’s operations, would view such a generous offer.
Another confusing line in the table reads, “Up to -10% Account Coverage” (again, the figures vary by account type). It’s not clear what this metric represents. If experienced traders struggle to understand it, imagine how beginners would feel.
But the surprises from Altreserve don’t end there. The broker offers potential clients nearly a dozen highly sought-after services, such as:
- Savings account.
- Futures and options trading.
- Staking.
- Mining.
- Compound interest account.
- Pension account.
- Safe haven account, etc.
These are excellent offerings, but none of them are detailed on the broker’s official website. Moreover, they are not mentioned in the client portal, and there are no links to activate these services. But this is to be expected — after all, for scammers like Altreserve, promising doesn’t mean delivering.
Exposing Altreserve
The most compelling evidence of Altreserve’s fraudulent activities came to light when we analyzed the official data provided. There is certainly a lot to uncover here.
The company, of course, avoided the topic of its registration on its official website. However, it couldn’t completely ignore it. In the published materials, no less than three countries are mentioned that could claim the (dis) honor of being the “homeland” of this “unique” project:
- Switzerland, as it is the only country where Altreserve allegedly has an office (according to the contact page).
- The United Kingdom, since the Terms & Conditions mention that the company’s activities are carried out in accordance with the laws of this country.
- Poland, where traders are advised to resolve disputes with the broker in court.
Which option do you prefer? We checked them all.
As it turns out, even the business name Altreserve does not appear on the Swiss registry. The same situation was found in the database of the UK Companies House and Poland’s business registry.
Is this strange? Not really. The conclusion is simple: the company exists only virtually, as a product of the imagination of the website’s owners at altreserve.net. And the brokerage services it supposedly provides are just as virtual, as it is impossible to sign agreements with liquidity providers or quote suppliers without official registration.
Equally fake is the copyright date of 2020, displayed in the footer of the site’s pages. Some people might believe that the broker has been around for four years. We don’t need to believe it, though — we can verify it.
According to the Whois service, the domain currently in use, altreserve.net, was registered on April 4, 2024. A little earlier, on March 29, 2024, the domain altreservegroup.net, used for the company’s mail server, was registered. This means the platform has only existed for about six months. Any claim of a 2020 launch is out of the question; this date is being used to mislead traders.
So, the broker publishes false information on its website. Can you trust your money to a company that deliberately deceives its clients? Our opinion is clear: absolutely not.
What Reviews Do Users Leave?
After six months of operation, there should certainly be many publications about the broker online. Most Altreserve reviews can be found on Trustpilot. The company’s rating is quite high — over 4.5 stars across 117 reviews.
However, upon closer examination of these posts, it becomes evident that the project owners didn’t hesitate to invest in building a positive image. The majority of positive comments are from users who seem to have little understanding of the broker’s specifics. As a result, you see praise for non-existent services and vague statements about the “best broker” without any details.
Nonetheless, there are also plenty of reviews on Trustpilot calling the platform a scam, and most of these are among the recent posts. It’s clear that more and more of the company’s clients are facing difficulties in withdrawing the money they deposited. This, of course, was to be expected.
Expert opinions on specialized websites are far more unanimous. They clearly point out all the flaws of this pseudo-company and give it a definitive label — scam.
Conclusions
In our Altreserve review, we have provided substantial evidence that this project was created by fraudsters. We’ve shown potential clients that the company operates without registration or a license, provides false information, and that its trading conditions are either complete nonsense or outrageously greedy. Are you still thinking of trading on this scam platform? Remember, the chances of losing your money here are close to 100%.
Pros/Cons
- Fast website loading speeds.
- Low leverage, allowing investors to trade with minimal risk.
- The company does not provide any registration details and has not officially undergone this procedure anywhere.
- It lacks any license to provide brokerage services, making its operations entirely illegal.
- The website publishes false information.
- Most important details are hidden from traders.
- A minimum deposit of $5,000 is hardly acceptable.
No earnings!!! The scammers at Altreserve intentionally block your account when it’s time to withdraw funds. After that, they stop responding. Only after contacting regulators for help did I learn that they are fraudsters, and I lost my money for nothing. It’s impossible to get it back, and the regulator can’t help either.
Yes, Alt reserve is a SCAM! After depositing $20,000, I couldn’t log into my account after a couple of days. Support has been silent ever since! Of course, I’m devastated about the money, but it looks like I’ll have to forget about it. So, stay away from them!!!!!!