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Basel Markets Forex Broker provides real users with * positive reviews, * neutral reviews and 12 exposure review!

Basel Markets Broker Review

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Basel Markets Review 12

Latest All(12) Exposure(12)
Exposure
Editing interferes with customer accounts.

The exchange locks transactions, adjusts swap fees, removes profit taking, cuts losses on customer orders, and requires withdrawal fees

dao4129
2023-09-15
Exposure
The scam exchange increased the overnight fee even though it was still clear

The fraudulent exchange adjusted the overnight fee even though it was still the same day as the transaction, disabling the account from further trading.

dao4129
2023-09-11
Exposure
They burned investors' accounts.

The floor automatically entered orders with unknown codes and entered at the same time when buying and selling burned investors' accounts.

buiminh
2023-07-21
Exposure
Basel Market intentionally liquidated my 34k

I still keep sending mail for 2 months, but the platform does not respond. Looking up the hotline number to contact the platform, there is no: why does the government let such a platform cost? In the process of playing this platform, I used to have all kinds of tricks used by the exchange 1. Sudden increase in overnight fees 2. Spread expansion 40-100 times 3. Failure to pay ccor on time 4. High difference between deposit and withdrawal ( 24.5-23.3) at the same time 5. some friends reported that they couldn't withdraw their money 6. the brokers find every reason to ask you to deposit more money into your account

Chien5432
2023-01-11
Exposure
does not pay dividends to investors

I have invested in Basel Market since December 2, 2022 with an initial capital of 6k$. If mt5 transaction is 1027380, after half a month, I can see that the deposit and withdrawal are ok in the morning. Seems reputable until 12/14 pm to add another 20k to buy VOW stock because it pays a high dividend of 19.6eu. But on the date of dividend payment on December 19, I still couldn't see the dividend, so I contacted the exchange via Mail, did not reply through a few IB banjs, and said it was late even though other exchanges paid dividends. When I opened the session because of the orders I placed, the orders were closed because of the price gap. During that session, I always asked about dividends, the exchange took the reason that I had not received the dividend, so I cut it so I didn't pay anymore. In the following days, I sent Mail on the floor many times with no reply. So far (December 21) I have not received a reply from the floor regarding the dividend issue. I write these words hoping the online community will help me get my dividends back?

Chien5432
2022-12-21
Exposure
Can't withdraw money to account

I have made a withdrawal from the platform since August 26, 2022, and still have not been able to withdraw to my account. Sent email to the platform, but no response

Vu phuong nam
2022-12-12
Exposure
Should stay away from this platform

My name is NVT. I opened a trading account on the exchange with a capital of 1500usd. I have been trading for 2 weeks, so my profit increased to 4061usd. In the trading session on April 25, 2022, I have Sell 41 shares total and have 1 order to place Profit 12. Tesla shares in the session because the day before Tesla announced revenue and tended to decrease sharply, the way my orders were both generating good profits. at 10:5pm I found it profitable, so I wanted to cut the order and go to the army, but I couldn't execute the order and lost the (x) button. I looked at the email and saw the updated information on the platform but did not notify the customer in advance. I am afraid the exchange will Touch tk and want to be sure of the order, so wait for the update to finish to cut the order for peace of mind. Until 12 o'clock at night, the order in platform jumped continuously, but the candle line did not change. while the market price is down, the whole order increases very quickly, continuously jumps more than 100 prices, and increases until the account is burned. I have taken pictures as proof. The next day, I had a petition to go to the floor and was informed by the support staff to wait 1 week to have a deposit. Next week, the floor has solved it for me, but I got back 1000u of capital and 1000u of bonus at the price. The floor just wanted to appease customers, I also know how difficult it is to get the credit back, so I have to accept that offer. So I call it beneficial or harmful to trade 1500u and have made a profit on capital up to more than 4000u in previous trading profits. So please stay away from this floor, don't lose money like me. I provide below screenshots of my trading account that day, the price list I captured that day of trading for proof. But what I have mentioned above is absolutely true.

FX2313572012
2022-04-29
Exposure
Do not allow withdrawals and deduct overnight fees

Do not allow customers to withdraw when the transaction is profitable

Hieu Vo
2022-02-19

  

Basel Markets 2025 Review: Everything You Need to Know

  In the ever-evolving world of online trading, Basel Markets emerges as a controversial player. This review synthesizes various sources to provide a comprehensive evaluation of the broker, highlighting its strengths and weaknesses. The overall sentiment leans towards caution, primarily due to regulatory concerns and mixed user experiences.

  Note: It's essential to consider that Basel Markets operates under different entities across regions, which may affect its regulatory status and user experiences. This review aims to present a balanced view based on available information.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service & Support 3
Trading Experience 4
Trustworthiness 2
User Experience 3

  We score brokers based on user reviews, expert opinions, and factual data from credible sources.

  

Broker Overview

  Founded in 2021, Basel Markets operates from Saint Vincent and the Grenadines, a location often associated with offshore brokers. The platform primarily utilizes MetaTrader 5 (MT5), a popular trading platform among forex traders. Users can access a variety of asset classes, including forex, commodities, indices, and cryptocurrencies. However, it is crucial to note that Basel Markets lacks proper regulatory oversight, which raises concerns about its credibility and the safety of client funds.

  

Detailed Analysis

  Regulatory Landscape

  Basel Markets operates without formal regulatory oversight, which is a significant red flag. While it claims to be associated with the National Futures Association (NFA), it is labeled as unauthorized. This lack of regulation can lead to higher risks for traders, as there are no safeguards to protect consumer interests. According to PediaFX, the broker has been flagged for its unregulated status, which could jeopardize client funds.

  Deposit and Withdrawal Options

  Traders can deposit funds using various methods, including credit cards, debit cards, and online banking. The minimum deposit required is $500 for the standard account. However, users have reported issues with withdrawals, indicating a lack of transparency and efficiency in processing requests. Negative reviews on platforms like WikiFX suggest that users often face difficulties in withdrawing their funds, raising further concerns about the broker's reliability.

  Asset Classes and Trading Costs

  Basel Markets offers a variety of trading instruments, including forex pairs, commodities like gold and silver, and indices. The cost structure features spreads starting from 2.0 pips and leverage up to 1:500, which can be attractive for traders seeking high-risk opportunities. However, the absence of a clear fee structure and the potential for hidden fees can complicate the overall trading experience. According to WikiFX, the lack of transparency in costs is a common complaint among users.

  Customer Support and Languages

  Customer service is a critical area where Basel Markets falls short. Users have reported slow response times and inadequate support, which can be frustrating for traders seeking assistance. The broker provides support through email and phone, but the overall user sentiment reflects dissatisfaction with the quality of service. This is echoed in various reviews, where customers express disappointment with the responsiveness of the support team.

  Geographical Restrictions

  Basel Markets does not accept clients from certain regions, including the United States and Hong Kong. This limitation can hinder its global reach and restrict potential traders from accessing its services. The broker's offshore status further complicates matters, as users from regions with strong regulatory frameworks may find it challenging to engage with Basel Markets.

  

Repeated Ratings Overview

Category Rating (out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service & Support 3
Trading Experience 4
Trustworthiness 2
User Experience 3

  

Detailed Breakdown

  •   Account Conditions: The minimum deposit requirement is $500, which is relatively high compared to other brokers. The lack of diverse account types also limits options for traders.

  •   Tools and Resources: While the MT5 platform offers advanced trading tools, the educational resources provided by Basel Markets are minimal, which can be a drawback for novice traders.

  •   Customer Service & Support: Users have reported slow responses and insufficient support, leading to a poor customer service experience.

  •   Trading Experience: The trading conditions, including high leverage, can be appealing, but the overall trading experience is marred by concerns about withdrawal issues and a lack of transparency.

  •   Trustworthiness: The absence of regulation and numerous negative reviews significantly impact the trustworthiness of Basel Markets. Users should approach this broker with caution.

  •   User Experience: Overall user experiences are mixed, with many traders expressing dissatisfaction over withdrawal processes and customer support.

  •   In conclusion, Basel Markets presents itself as a trading platform with potential but is hindered by significant regulatory and operational concerns. Prospective traders should weigh these factors carefully before engaging with the broker. Always conduct thorough research and consider seeking regulated alternatives to ensure the safety of your investments.