BaFin, Germany’s Federal Financial Supervisory Authority, has issued a consumer warning against alternativeseu(.)com, a financial services website operating without required authorization. The platform, formerly known as alternatives(.)broker, solicits investor funds while falsely claiming regulation in Switzerland, Canada, and the European Union. BaFin determined that the provider accepts deposits through third-party intermediaries, including an account operated by STil-eConcept UG, which has been subject to a BaFin ceasing order.
- Website: alternativeseu(.)com (formerly alternatives(.)broker)
- Regulatory Status: Operating without required BaFin authorization
- False Claims: Purports regulation in Switzerland, Canada, and the EU
- Fund Collection Method: Third-party accounts including STil-eConcept UG
Under German law, any entity providing financial or investment services within the country must obtain authorization from BaFin. Consumers can verify a company’s regulatory status through BaFin’s official authorization database. The regulator has issued this warning under Section 37(4) of the German Banking Act (Kreditwesengesetz), which permits BaFin to publicly alert the financial services industry and the public to unauthorized financial service providers.
BaFin, working alongside the German Federal Criminal Police Office (BKA) and state criminal police offices, has cautioned consumers to exercise heightened vigilance against internet-based financial fraud schemes. The authorities recommend conducting thorough research before investing online and consulting BaFin’s official warnings database to identify unauthorized operators early. The regulator maintains a dedicated section on its website detailing current warnings and fraud-prevention guidance.
