On the website, the operators have published details about the broker authorisation purportedly granted to Basetrade LTD, Amsterdam, Netherlands, by the Cyprus Securities and Exchange Commission (CySEC). In addition, the website presents a certificate that was supposedly issued to Basetrade by the UK’s Financial Conduct Authority (FCA). However, there is no evidence to be found with CySEC or the FCA that a company called Basetrade LTD or Basetrade actually exists.

On most of the website, the operators refer to themselves as Basetrade, citing business addresses in Amsterdam, Netherlands, and London, United Kingdom. It should be noted, however, that some parts of the website refer to Nexus LLC, based in Saint Vincent and the Grenadines, as the operator of basetrade.pro. Furthermore, the terms available on the website concerning bonuses refer to the website berfammarkets.com, not basetrade.pro.

BaFin has come across Nexus LLC several times in the past as the operator of unauthorised trading platforms.

BaFin has information that the operators of basetrade.pro previously used a website with identical content, basetrade.io, which has since been deactivated.

Anyone providing financial, investment or cryptoasset services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

BaFin is issuing this warning on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomärkteaufsichtsgesetz).