Read our detailed Altreserve review to understand why we strongly advise against trading with this broker. This review is specifically about altreserve.net.
Is Altreserve a Scam or Legit?
After examining their website, it’s evident that Altreserve is not regulated by any financial authority, which is a significant red flag! This lack of regulation alone is a compelling reason to avoid investing with them. Moreover, they collaborate with websites offering “Automated trading software,” which is another alarming sign, as such platforms are notorious for scams.
In summary, Altreserve operates as an unregulated forex broker, meaning that customer funds are not protected. There’s a high likelihood that they could abscond with your hard-earned money, and there would be no regulatory body to hold them accountable.
How Does the Scam Work?
Unregulated forex brokers like Altreserve typically operate by contacting potential victims and convincing them to make an initial deposit. They entice with offers that seem too good to be true, such as doubling your initial deposit or promising easy daily profits. Don’t be fooled—it’s a scam! Once the initial deposit is made, the victim is handed over to a more skilled scammer, known as a retention agent, who will attempt to extract even more money from them. It’s important to note that you shouldn’t trust any positive Altreserve reviews you might find online; these are often paid for to artificially boost their reputation.
Withdrawing Funds from Altreserve
If you have funds with Altreserve, submit a withdrawal request immediately, as your money is not safe with an unregulated broker. This is where the trouble begins.
When you try to withdraw your money—whether or not you’ve made any profits—they will delay the process for months. If they manage to delay it for six months, you lose the ability to file a chargeback, and your money is effectively gone. No matter how persistent you are, you will not get your funds back. Additionally, if you’ve signed the Managed Account Agreement (MAA), which gives them full control over your account, they will likely deplete your funds, leaving you with nothing to withdraw.
How to Recover Your Money from Altreserve
If you’ve already deposited money with Altreserve and they refuse to return it—which is highly likely—don’t lose hope. There are steps you can take to recover your funds.
First, keep all emails as proof that you’ve requested your money back and that they have either refused or delayed the process with the intent of not refunding you.
Your first course of action should be to initiate a chargeback immediately! Contact your bank or credit card provider and explain how you were deceived into depositing money with a non-regulated trading company. Make sure to mention their refusal to return your funds. A chargeback is the simplest and most effective way to get your money back and can significantly harm their relationship with payment service providers. If you’re unsure how to proceed or need assistance in presenting your case, we can help you prepare your chargeback. Contact us at info@thefxreview.com, but don’t let the broker know you’ve read this article or that you’re in contact with us.
What About Wire Transfers?
If you transferred money via wire, a chargeback isn’t an option. In this case, you’ll need to escalate the situation. Inform Altreserve that you intend to report them to the authorities and file a formal complaint. This threat may make them reconsider your refund request. Additionally, you can draft a letter or email to the relevant regulatory agencies. Depending on your location, search online to find the appropriate regulatory body for forex brokers in your country. After drafting your complaint, show it to Altreserve and inform them that you will submit it if they do not refund your money. If you need help with this step, contact us at info@thefxreview.com or through our contact form.
Leave Reviews About Altreserve on Other Sites
To further protect others from falling victim, leave reviews on other websites. If you’ve had a negative experience, share it in the comments section below or on other review sites. These scammers often change their website names and may contact you again under a new identity. If they do, mention the new website name in your review or let us know directly. Additionally, if you receive calls from other companies, share the names in the comments or send them to us, and we’ll expose them as well.
Altreserve Review Conclusion
We hope our Altreserve review helps prevent others from losing their hard-earned money. Always thoroughly research any forex broker or company before making any financial transactions. If you have any questions or need advice about the withdrawal process, feel free to reach out to us at info@thefxreview.com. If you enjoy trading, ensure you do so with a reliable, regulated broker by choosing one from the list below.
