What is Basel Markets？
Basel Markets is a trading platform founded in 2021 and is headquartered in Saint Vincent and the Grenadines. Despite its recent inception, it offers a diverse range of market instruments for traders, including currency pairs, precious metals, indices, and energy.
Unfortunately, it currently operates without any formal regulatory oversight. Potential traders can familiarize themselves with the platform using its available demo account. With leverage going up to an impressive 1:500 and competitive EUR/USD spreads of 2.3 pips, Basel Markets tries to ensure flexibility in trading. The required minimum deposit stands at $100, and the platform primarily uses the widely recognized MT5 trading platform. For any queries or assistance, users can approach their customer support through phone and email channels.
Pros & Cons
Pros:
Wide Range of Trading Instruments: Basel Markets offers a comprehensive portfolio of trading options, including currency pairs, precious metals, indices, and energy. This diversity allows traders to spread risk and explore multiple markets.
Unparalleled Trading Conditions: With attractive features like leverage of up to 1:500 and competitive EUR/USD spreads of 2.3 pips, Basel Markets ensures that its traders have an edge in the market.
Protection of Funds: Basel Markets emphasizes the security of its users' capital, employing strategies and mechanisms to ensure that funds are kept safely.
Committed to Financial Education: Recognizing the importance of informed trading, Basel Markets is committed to providing resources and educational tools, enabling traders to make knowledgeable decisions.
Cons:
Unauthorized regulation by NFA: Being flagged or viewed suspiciously by the National Futures Association (NFA) can raise red flags for potential investors, as it brings up concerns about the platform's credibility and trustworthiness.
Restricted Access in Certain Countries: Traders from specific regions might find themselves unable to access Basel Markets, limiting its global reach and potential user base.
Limited Platform Options: Being primarily centered around the MT5 platform limits traders who are familiar with or prefer other trading software options.
Is Basel Markets Safe or Scam？
Basel Markets operates under the National Futures Association (NFA) but it is labelled as unauthorized, a fact that potential users should approach with caution. The absence of regulation means that Basel Markets isn't bound by the standard protocols, guidelines, or safeguards that are enforced by regulatory bodies to protect consumers. Such a status can entail higher risks related to security, transparency, and the overall reliability of the platform, as there is no external body monitoring or ensuring its adherence to typical industry standards.
Market Instruments
Basel Markets boasts a comprehensive and diverse array of market instruments, catering to the varied needs of its global clientele. From traditional forex trading to Equities, the platform provides multiple avenues for potential investment. Here are some examples of the instruments available:
Foreign Exchange (Forex): At its core, Basel Markets offers a robust foreign exchange trading platform. Here, traders can speculate, hedge, or invest in various currency pairs, capitalizing on the fluctuations and dynamics of the global forex market.
Commodities: Commodity trading is yet another highlight of Basel Markets. Traders can delve into the world of tangible assets, including precious metals like gold and silver. Additionally, energy commodities, such as oil and natural gas, are available for those keen on trading based on global energy demand and geopolitics.
Indices: Basel Markets provides its users with the opportunity to trade on major global indices. This allows traders to take positions based on the performance of top companies in particular regions or sectors, reflecting broader market movements.
US Equities: For those interested in the American market, Basel Markets offers access to US equities. This provides a chance to invest in some of the largest and most influential companies based in the United States.
EU Equities: In addition to the US market, traders can also venture into European stocks. The EU equities segment opens doors to the European corporate landscape, offering a diverse range of investment opportunities.
Cryptocurrencies: Recognizing the growing importance and popularity of digital currencies, Basel Markets has incorporated cryptocurrency trading. With this, traders can participate in one of the most volatile and potentially rewarding markets, dealing in popular digital coins and tokens.
Account Types (Minimum Deposit, Leverage, Spreads)
Standard STP Account:
The Standard STP account is an entry point for traders looking to venture into global markets. With a modest minimum deposit, traders gain access to global equities, currencies, and more. This account is tailor-made for those beginning their global investment journey with a focused mindset.
Minimum Deposit: $500
Minimum Spread: 2.0
Maximum Leverage: 1:500
Minimum Trade Size: 0.01 lots
ECN Trading Account:
The ECN Trading account offers a more direct approach, where orders are routed straight to the liquidity provider. This ensures competitive pricing, making it a suitable choice for the professional investor. Notably, this account operates with no commission.
Minimum Deposit: $5,000
Minimum Spread: 1.0
Maximum Leverage: 1:500
Minimum Trade Size: 0.01 lots
Institutional Managers Account:
Designed specifically for Fund and Portfolio Managers, the Institutional Managers account boasts the lowest spreads. Trades are linked with Tier 1 financial institutions, ensuring optimal execution. This premium account offers trading costs that can go as low as 0.0 pip.
Minimum Deposit: $10,000
Minimum Spread: 0.0
Maximum Leverage: 1:500
Minimum Trade Size: 0.01 lots
Each account is structured to offer traders a specific set of advantages, from beginner-friendly settings in the Standard STP account to the razor-thin spreads in the Institutional Managers account. This allows traders of all levels to find a suitable platform for their trading needs at Basel Markets.
Trading Platform
Basel Markets exclusively offers the MetaTrader 5 (MT5) platform, heralded as an advanced successor to MT4. MT5 enhances traders' capabilities with expanded timeframes, an extensive array of technical indicators, and broader asset class support, making it a versatile tool for navigating financial markets. With an enriched library of technical tools, traders can conduct more comprehensive technical analysis, while the platform's support for various time intervals caters to a wide range of trading strategies.
Additionally, they have an innovative social trading system, where traders from around the globe can connect with one another, discuss trading strategies, and benefit from patented CopyTrader technology. With this technology, users have the opportunity to replicate the trading portfolios and performance of experienced traders who have a proven track record. With just a few clicks, they can follow, learn from, and mimic the moves of these top traders, allowing them to access their insights and expertise while harnessing their success to enhance their own trading journey. Traders can join the community today and unlock a new dimension of trading possibilities, where collaboration and cutting-edge technology converge for their financial advantage.
Deposits & Withdrawals
It is quick and easy to deposit funds into your Basel Markets trading account. Funds can be deposited using a wide range of payment methods including credit card, debit card, payment wallets including Neteller and Skrill, online banking and bank wire transfer:
Credit & Debit Card:
Accepted Currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
Deposit Time: Instant funding on MT5
Deposit Fees: None
Bank Transfer:
Accepted Currencies: All currencies
Deposit Time: 1 business day from when the funds are received
Deposit Fees: No deposit fees charged by Basel Markets. Notably, for deposits greater than 10,000 USD, Basel Markets will cover international fees up to 50 USD.
Other Instant Funding Options (Dragonpay, Fasapay, Zotapay):
Accepted Currencies: Various, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, INR, MYR, IDR, THB, VND, among others.
Deposit Time: Instant funding on MT5
Deposit Fees: None
Users should note that while Basel Markets ensures flexibility in deposits, withdrawal of funds might be subject to commissions from the payment system. These commissions can change without prior notice as determined by the respective payment systems.
Trading Hours
The operational hours for CFD and Forex markets primarily revolve around the trading hours of global financial exchanges such as the London Stock Exchange, New York Stock Exchange, Hong Kong Stock Exchange, Tokyo Stock Exchange, and others. Given the dispersed locations and time zones of these markets, monitoring trading hours for various financial instruments can be complex. However, when it comes to currency pairs, their trading availability extends throughout the week, except for weekends. For instance, forex trading hours are 00:02-23:59 and USDRUB is 10:00-23:50.
User Exposure on WikiFX
On our website, you can see reports of scams and unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: (+1) 2624 09 2115
Email: services@baselmarkets.com
Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Linkedin and YouTube.
Conclusion
In conclusion, Basel Markets presents itself as a comprehensive and user-centric trading platform. With its diverse market instruments, ranging from forex to commodities and equities, it caters to a wide array of trading interests. Additionally, its structured account types, from Standard STP to Institutional Managers, ensure that both novice and expert traders find an environment tailored to their needs. The array of funding options, emphasizing instant funding and zero deposit fees, further accentuates its commitment to client convenience. Despite certain regulatory concerns, Basel Markets' offerings underscore its intent to be a competitive player in the global trading arena, prioritizing flexibility, transparency, and user experience.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2023-03-14 17:07
2023-01-11 09:14
