Broker Review

Overview

BaseMarkets.com is an online trading platform that offers access to various financial instruments, including cryptocurrencies, forex, indices, and commodities. The platform presents itself as a global brokerage service, targeting investors seeking opportunities in these markets.

Regulatory Status

The UK’s Financial Conduct Authority (FCA) has issued a warning stating that BaseMarkets.com is not authorized or registered by them. This means that the firm is operating without the necessary regulatory permissions to provide financial services or products in the UK. As a result, users dealing with this firm do not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme, which could leave them without recourse if issues arise.

Additionally, the Australian Securities & Investments Commission (ASIC) has issued a warning against BaseMarkets.com, believing this company might be providing financial services or products without proper authorization. This raises concerns about the platform’s legitimacy and regulatory compliance.

User Feedback

Independent review platforms have flagged BaseMarkets.com as a potential scam. The company’s website claims to offer various trading tools and features, but there is limited independent verification of these claims. The lack of regulatory oversight and transparency raises concerns about the platform’s legitimacy and the safety of client funds.

Key Takeaways

• Lack of Regulation: BaseMarkets.com is not authorized by the FCA or listed in the ASIC database, indicating it operates without proper regulatory oversight.

• Potential Scam: Reports and reviews suggest that BaseMarkets.com may be a high-risk platform, with some users labeling it a scam.

• Limited Recourse: Without regulatory authorization, users have limited options for recourse if they encounter issues with the platform.

Conclusion

Given the lack of regulatory authorization and the concerns raised by independent reviews, potential investors are strongly advised to exercise caution when considering engagement with BaseMarkets.com. It is recommended to seek alternative platforms that are properly regulated and have a transparent operational history to ensure greater security and recourse in case of issues.