Finance24 Base is not a credible broker in the United States. However, our research has uncovered that the company operates without any regulatory oversight, which poses significant risks to clients’ funds and raises concerns about the transparency of their trading activities.
Due to the lack of regulatory supervision, we strongly advise against engaging in transactions with Finance24 Base to protect your financial assets. It is essential to be cautious and avoid doing business with entities that lack proper regulatory authorization to safeguard your hard-earned money from potential risks and uncertainties.
Finance24 base Regulation
| Guaranteed Funds | Segregated Accounts | Negative balance protection | |
| Finance24 base | ❌ | ❌ | ❌ |
| UK regulated brokers | £85 000 | Yes | Yes |
| EU regulated brokers | €20 000 | Yes | Yes |
| AU regulated brokers | No | Yes | Yes |
| US regulted brokers | Yes | Yes | No |
Finance24 Base attempts to appear legitimate by claiming to be a credible broker registered in the United States. Moreover, the company falsely asserts authorization by the UK’s Financial Conduct Authority (FCA).
Additionally, our investigation revealed that the respected Commissione Nazionale per le Società e la Borsa (CONSOB) in Italy has identified Finance24 Base’s unauthorized services in their jurisdiction. In response, CONSOB issued a stern warning, categorizing Finance24 Base as an unauthorized entity operating illegally within their jurisdiction.
These warnings should be taken very seriously, as they aim to protect traders from potential financial harm.
In summary, engaging with Finance24 Base involves significant risks that should not be ignored. Safeguarding your financial security is crucial, and it is imperative to avoid any business dealings with unregulated and unauthorized entities like Finance24 Base.
Trading Platform
Given the overall lack of reliability associated with Finance24 Base, it is unsurprising that they fail to offer a dependable trading platform. Rather than providing a comprehensive trading solution, Finance24 Base merely offers TradingView-enabled charts that do not support actual trading activities. This is a significant drawback for traders seeking a robust and reliable trading environment.
To ensure that both your time and money are invested wisely, we highly recommend choosing a reputable broker that offers industry-standard trading platforms. Selecting a broker with these credible and well-tested platforms can significantly enhance your trading experience and contribute to the security of your financial investments.
Minimum Deposit
Moreover, Finance24 Base offers a range of account types tailored to suit diverse trader preferences, with different minimum deposit requirements: $1000 for the Starter Plan, $10,000 for the Master Plus Plan, $20,000 for the Premium Plan, and $50,000 for the Ultimate Plan.
In contrast, it’s noteworthy that most reputable forex brokers typically request deposits of up to $250, highlighting a significant disparity in minimum deposit requirements between Finance24 Base and industry standards.
Payment Methods
Finance24 Base offers payment transactions facilitated through cryptocurrencies such as Bitcoin and Ethereum, adding another layer of concern regarding the company’s reliability. Cryptocurrencies are inherently untraceable, anonymous, and irreversible, posing significant risks for traders.
In contrast to standard payment methods like credit/debit cards and bank transfers, which provide more established security measures and recourse mechanisms, the use of cryptocurrencies introduces heightened uncertainty and vulnerability to fraudulent activities. This divergence in payment options underscores the importance of exercising caution when considering transactions with Finance24 Base, particularly given the risks associated with cryptocurrency transactions.
Trading Instruments
According to their website, Finance24 Base purportedly offers trading in Forex, cryptocurrencies, and binary options. However, it is important to note that due to the absence of a real trading platform, none of these trading options are actually available to traders.
Finance24 base Spread
Furthermore, our investigation did not uncover any information regarding the spreads offered by the company. This lack of transparency is concerning, as it prevents traders from fully understanding the costs associated with their trades. The absence of this crucial detail raises additional red flags about the company’s transparency and reliability.
Leverage
Likewise, no details are available regarding the leverage offered by Finance24 Base. This lack of information about leverage limits traders’ ability to assess their risk exposure and effectively manage their trading positions. Leverage plays a significant role in forex and CFD trading, amplifying both potential profits and losses. Therefore, comprehensive details about leverage are essential for traders to make informed decisions and tailor their trading strategies accordingly.
Withdrawal Requirements
| Trading volume requirement | Fee/Tax on withdrawal | Minimum withdrawal | |
| Finance24 base | Not specified | Not specified | Not specified |
| UK regulated brokers | No | No | No |
| EU regulated brokers | No | No | No |
| AU regulated brokers | No | No | No |
| US regulated brokers | No | No | No |
Finally, it’s worth noting that Finance24 Base’s website lacks any information about withdrawal fees or minimum withdrawal amounts. This absence of crucial details raises concerns about transparency and leaves traders uncertain about the potential costs associated with withdrawals. Without clear guidance on withdrawal fees or minimum amounts, traders may face unexpected charges or restrictions when accessing their funds, impacting their overall trading experience.
Pros and Cons
| Pros | Cons |
| None | Unregulated |
| Falsely claims registration in the US | |
| CONSOB warning | |
| No reliable trading software | |
| High minimum deposit requirements |