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TradeBase24 Review: Tradebase24.com Dubious Scam Exposed

TradeBase24 Review: Tradebase24.com Dubious Scam Exposed

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TradeBase24 (Tradebase24.com) is a Crypto and Forex scam with limited website information. TradeBase 24 is a broker that should be avoided at all cost. Trade Base 24 is most likely an offshore broker trying to imitate legit platforms. Cloning of trading websites is nothing new and offshore brokers have perfected this art. And it is why unsuspecting investors get swindled. The scam tricks used by this broker must be revealed. Read this genuine and transparent TRADEBASE24 Review for more information.

TradeBase24 Review

About TradeBase24

Information regarding the broker and website is missing. These brokers don’t want anyone sieving through their platform. And this is a major issue investors must note. Any broker without accurate information on their website should not be trusted. TradeBase24 is hiding information regarding their background and trading history. And this is proof we are dealing with a rogue online trading platform. These scam brokers should be investigated by authorities and their platform shut down.

TradeBase24 is unclear on when they began offering online trading services. One of them is guaranteeing a payout of 200 percent on the initial investment. These false claims are what have driven most investors to sign up. A 200 percent investment option is a good incentive to sign up. Beware of such claims as there is no broker or robot that can achieve this fete. It is all a mirage to entice investors to sign up. A genuine broker will state the risks involved in trading.

Assets found on TradeBase24

The broker claims to offer a unique platform for Cryptocurrency and Forex markets. TradeBase24 is still unclear on the leverage and spreads available on these assets. What they claim to offer is a guaranteed payout on available assets. The total number of trades this month as quoted on their website is 321, 251. These are random numbers meant to give credit to the platform. With a guaranteed payout of 200 percent, it is expected to have more trades. The number of trades does not change even after a month. It is a sign of a false platform.

Business Owner

TradeBase24 is unclear on who runs and operates the platform. They claim the platform was focused on creating a state of the art trading platform. Trade Base 24 is claiming to have over 17,000 members worldwide. They also post that they offer 80 percent payout on each trade. From what we can gather, this is another anonymous online trading platform to avoid. Such platforms are a huge money losing venture. If they offered such a guaranteed and high payout, we would all sign up.

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Domain Details

Records show tradebase24.com was created on 20th February 2019. It means the broker is barely two years old. Complaints about the platform’s inability to release funds started late last year. And this means only the first members who signed up got to withdraw funds. After word got out the broker allows withdrawals, investors signed up. With more sign ups, the broker decided to show their true colors and started blocking withdrawals.

Is TradeBase24 Licensed or Registered?

TradeBase24 is not licensed or registered to offer any trading services. They fail to show any license or registration details on their platform. And this is proof of the broker’s inability to get a valid license. The Financial Conduct Authority has no broker licensed or regulated under the name Trade Base 24. They are in fact not based in the UK which means not regulated anywhere near Europe. And this poses a huge risk to investors.

TradeBase24 Trading Terminal

Other regulators in the region are planning to issue an alert over the use of this platform. An alert will greatly help investors stay away from the platform. A look at the entire website reveals no information regarding compliance. A true broker will post details of their license using copies of their certificates. Stay away from such a broker as no one will get any compensation in case of bankruptcy.

Restrictions of TradeBase24

Account Types

TradeBase24 is unclear on the account types available on their platform. We checked the entire website and could not find any information regarding account details. It means the broker has not listed the acceptable minimum deposit. And this is a huge problem as it gives the broker leeway to ask for any amount. Members have been depositing in excess of over $5,000 to have an account with the platform. Imagine depositing such an amount and failing to withdraw even a penny. It is what a majority of members are going through.

Contact and Support

According to their contact and support page, Tradebase 24 is using a message board and phone number. The support ticket demands users to leave their contact information. With anonymous brokers, users should be suspicious as the broker will likely sell personal information. The phone number used is not a UK number. Scam brokers are using virtual phone number to try and fool investors. They want investors to believe the broker is located in the listed region.

Deposit and Withdrawal

Trade Base 24 is using a number of depository channels on their trading platform. These brokers are using AstroPay, Bitcoin, Giro, MasterCard, Neteller, Visa, among others. The depository channels allow anyone in the world to deposit funds. Depositing funds with the broker takes less than five minutes. It is not a good enough reason to sign up and deposit funds with an anonymous broker. Withdrawing funds with the broker remains to be the biggest challenge yet.

Payout Promised

Any broker who makes a guarantee profit margin is using false information to sign up investors. The markets are volatile and prices change without warning. A guaranteed payout is false statement which will entice unsuspecting investors to sign up. The broker simply wants to target investors who want to make a quick turnaround. Once they see a broker who is guaranteeing a high payout, they sign up without a second thought. And this is the start of a terrible trading experience.

Trading Terminal

Missing information on the platform is in regards to the trading terminal available. TradeBase24 is mum on the available trading terminal. A closer look at a screenshot sent by a victim reveals they are using a custom made platform. The problem with online custom-made platforms is lack of proper security features. Lack of DDoS and SSL encryption on the platform makes it unstable. Members are facing a slow execution speed with the platform.

Security of funds with TradeBase24

TradeBase24 Contact Information

TradeBase24 is not able to safeguard funds deposited by members. Hackers can easily gain access to the platform and steal vital information. Credit card information is at risk especially when depositing funds with the broker. With their unsecured channel, it makes it easy for hackers to steal credit card information. Stay away from such a broker who puts funds at risk with clumsy trading features.

Scam or Legit with TradeBase24

Evidence clearly shows Trade Base 24 is a scam worth staying away from. Such scams are a huge problem especially with newbie traders. With a promise of a high payout, investors sign up without a second look. Mark all their promotional emails as spam and don’t join their affiliate programs. They also don’t pay their affiliate members.

Final Thought

The broker must explain why they are offering harsh trading conditions once caught. These are scam brokers who will stop at nothing to get your funds. Warn your family members from joining online platforms with insane payout promises. They are most likely scam websites which lure investors to deposit funds with them.

Continue reading our reviews for more on online trading products and services. Joining a Crypto trading platform? Why not use approved Crypto tools backed by Digital currency experts.

We wish everyone a safe trading experience.

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