English Name of the Company: Inbasetrader
Chinese Name of the Company: 英汇
Type of Business: Forex Broker
Business Tags: Ponzi Scheme
Trading Software: Ctrader
Regulating Authorities: U.S. NFA (False), Canada Fintrac MSB (False), Australia ASIC AR (No Retail Forex Authority)
Trading Accounts: Professional Account, Personal Account, Demo Account
Company Registration Location: Australia
Company Establishment Date: August 15, 2023
Domain Registration Date: June 4, 2023
InbaseTrader is a forex investment platform not regulated by any authority. As of the date of publication, the company has been established for less than a month. The firm claims to be regulated by the U.S. NFA, Canada Fintrac MSB, and Australia's ASIC AR. However, inquiries reveal that Inbasetrader's NFA registration type is non-member, and it is not regulated by the NFA. The supposed Canadian MSB license could not be verified on the MSB official website.
On the official ASIC regulatory website, it's found that the company has bought representation from STAR FUNDS MANAGEMENT PTY LTD, whose parent company STAR FUNDS has no retail forex authority, meaning the AR authorization does not regulate InbaseTrader's business operations. Funds invested in the company do not go into a third-party regulated account but directly into InbaseTrader's account or its affiliated company accounts, leaving users' funds unsecured.
This broker falsely advertises having a 20-year history, yet public searches reveal no information about the company prior to August 15, 2023. InbaseTrader's claims of receiving over 20 international honors could not be verified online.
![Establishment Date](https://production-app-asset.traderknows.com/images/d7a7666f8c0440a4ba76ec105f7a45ce.width-800.jpg?Expires=1728329715&Signature=Fump9T8nFsenDd47uLM1qJAkiPzXjM3FhMbNsBsdXHfo14EcR69YmzAbELqcE-uOH0pxyCsQw5NWV2VYoBOZ~2e4Px1FVSMITPbOKsgQt0EqkZ00ldr15IdJ47i8Kgg9Ff8PMqygJv5WF3fwsECYpdUOjaJwMOyrc~wm4rY~wqAxqqCFzl1N3okRMgK2sogwYps0uRSuanhLrb4X49aGzf5OjBr2ijagADXFwnwd~ZRArDetR~SKg~q4hQKLPM4NSpmhRKDO6h4VWzid2Ob521MdjPkwhQe1QLERa~4DuN52lPrpwVYVDTP3edPSf-NcHcjd0zh6cIgRmo03zZxMNA__&Key-Pair-Id=K3LHBTUA5A7KEY)
The broker attracts investors with the promise of high returns, but ultimately, the users' funds become inaccessible. Trade Encyclopedia warns that a common operational method of such investment schemes is to attract new users with high rates of return, using the new users' funds to pay back previous users. When the incoming funds are insufficient to fully pay back the old users, the scheme will collapse, leading to a bubble burst. All participants involved in recruiting others will also face legal consequences.
Participants hoping for luck should be aware that this scheme has crude packaging and is highly likely to shut down and abscond with the funds shortly. Please withdraw your funds timely to protect your financial safety.