Stock24Based is a platform claiming to operate in Forex, cryptocurrency, and binary options trading, with the website domain stock24based.com. According to Whois information, this domain was registered on May 10, 2024.
Company Background and History
Company History as Stated by the Official
According to the official website, the company claims it was established in 2012 and is a subsidiary of Stock24Based Plc.
The parent company is said to have over a century of history and is among the world’s largest companies. The company claims its headquarters is in the United States, with global operations, committed to helping clients achieve financial freedom through investment services.
The company describes its development process including:
- 2013: Started sponsoring innovative projects, expanding from individual operations to multiple private equity funds.
- 2014: Launched private closed-ended funds and optimized fund management structure.
- 2015: Infrastructure reforms to strengthen liquidity and clearing mechanisms, expanding services to the retail market.
- Recent years: Expanded international market influence through social platforms like Facebook.
Verification Check
Despite detailed descriptions on its website, no public records of a company named “Stock24Based Plc” could be found.
Additionally, no official accounts associated with the platform were discovered on major social media platforms like LinkedIn, Facebook, Instagram, Twitter, or YouTube, contradicting their claim of global operations with extensive social media promotion.
Core Business Content
Stock24Based's website claims that its main businesses are:
- Providing fund management services, managing investor funds.
- Operating short-term and long-term investment projects for high returns and capital safety.
- Involved in markets across multiple countries and claiming to have joined the U.S. Investor Compensation Fund (ICF).
Questioning the Authenticity of the "ICF" Claims
No official entity named “Investor Compensation Fund (ICF)” exists in the United States.
The real investor protection agencies in the United States include:
Securities Investor Protection Corporation (SIPC)
- Full Name: Securities Investor Protection Corporation
- Primary Function: Protects investors' accounts when securities brokerage firms go bankrupt
- Coverage Limit: Up to $500,000 per customer, including a cash portion up to $250,000
Federal Deposit Insurance Corporation (FDIC)
- Full Name: Federal Deposit Insurance Corporation
- Primary Function: Protects bank deposits
- Coverage Limit: Up to $250,000 per account
The “ICF” does exist in some European countries, such as Cyprus (regulated by CySEC), but it is not a U.S. entity. Therefore, the platform’s claim of “U.S. ICF protection” is misleading or false information.
Regulatory Information
The platform claims on its website that:
- The company has received U.S. government certification;
- Registered and regulated in the United States;
- Authorized by the UK Financial Conduct Authority (FCA).
Results of Actual Verification
- No regulated entity named Stock24Based was found on the FCA's website or the U.S. Securities and Exchange Commission (SEC).
- The website displays a blurry UK company registration certificate, which cannot be confirmed. Next to the certificate, the company is labeled as “24StockOptions”, with registration number 07309208.
- The UK company registration number 07309208 corresponds to the real company ETRADE SOLUTIONS LTD.
Investment Plans and Analysis
Stock24Based offers various investment plans, covering monthly, weekly, crypto assets, and NFP plans. All plans promise high returns with a "money-back guarantee".
Investment Plan Overview
Pricing
From Starter Plan to Corporate Plan, investment thresholds range from $1,000 to $100,000, with annual return on investment (ROI) expectations between 30%-80%, and a flat 20% commission.
Weekly Pricing
Investment starts from $3,000, with return rates ranging from 20%-40%, and commissions vary from 5%-50%.
Monthly Pricing
Similar to the Pricing plan structure, but commissions drop to 10%.
NFP
This series claims a return rate of up to 150%, especially with the Ultimate Plan requiring an investment of $100,000.
Bitcoin Crypto Plans
Priced in Bitcoin, with a minimum requirement of 1 BTC and a maximum of over 30 BTC, return rates range from 90%-95%.
Investment Plan Questions and Risk Analysis
- High Returns and Fixed Income
All plans promise stable high returns, far exceeding typical market annual yields. Some plans even exceed 100% annual returns, which is often a hallmark of Ponzi schemes used to attract investors.
- Opaque Profit Model
The platform does not disclose how funds are used or trading strategies, such as whether they invest in forex, futures, or cryptocurrencies. Commission rates are extremely high, deviating significantly from mainstream market practices.
- False "Money-Back Guarantee"
All plans promise a "Money Back Guarantee". However, legitimate financial institutions would clearly state investment risks and cannot make "no-strings-attached" refund promises.
- Lack of Effective Regulation
The platform is not formally regulated by any financial authority. It doesn't comply with basic KYC/AML compliance mechanisms and lacks regular audits or disclosure obligations.
- Encouraging Increased Investment
All investment schemes have different earning tiers based on the amount, manipulating investors to continually increase their contributions to sustain the scheme.
- No Disclosure of Market Risks
The website doesn't mention any investment risks, creating a false impression of "guaranteed profits", further confirming typical scam characteristics.
- Opaque Withdrawal Mechanism
It only states that account managers must be contacted with documents for review, lacking detailed procedures and time frames, which can lead to difficulties in withdrawing funds.
Company Address and Staff Situation
The website lists the operating address as: 1000 Main St 12th floor, Houston, TX 77002, USA.
Upon checking, this address is a shared office building with numerous tenants, but no information on Stock24Based being located there was found. This address has also been used by multiple similar types of scam platforms, indicating it might be a templated fake address.
Furthermore, the website doesn't disclose any staff or management details, and no related personnel information could be found publicly online.
Website Structure and Suspicious Factors
Based on the statistics from the web analytics tool Semrush:
- stock24based.com receives fewer than 100 visits per month
- The platform has nearly no organic traffic and very low user activity
Additionally, the platform shares the same website template and content structure with multiple exposed scam websites (such as Quantumtrade, Cryptfx Trades, Frexpromarket), suggesting they were likely produced in bulk by the same team.
User Feedback and Brand Exposure
Currently, no user reviews or feedback about Stock24Based can be found on public network platforms.
Moreover, the well-known third-party platform ScamAdviser has listed this platform as a high-risk scam site, giving it a negative trust rating. Aside from this record, no news reports or references from authoritative media regarding Stock24Based have been found, indicating its brand exposure is extremely low, and its market credibility is seriously lacking.
Contact Information
The contact information provided on the official website includes:
- Phone: +1(347) 9708-530
- Whatsapp: +1 719-581-9680
- Email: [email protected]
Risk Report
In summary, Stock24Based presents the following major risks:
Company Background Risk
The company entity does not exist, background information is unverifiable, and there are exaggerations and fabrications in its official statements.
Regulatory Risk
The platform lacks any official financial regulatory backing, and its claims of authorization are false, leaving investors’ rights unprotected by law.
Investment Product Risk
All investment plans promise unreasonably high returns, suggestive of a classic Ponzi scheme with undisclosed sources of returns, posing extremely high risks.
Deposit and Withdrawal Risk
The withdrawal mechanism is unclear, with a high probability of future funds being frozen or withdrawals being denied.
Legal and Compliance Risk
The platform seriously lacks information disclosure, failing to meet basic KYC, AML, and other regulatory requirements.
Cyber and Information Security Risk
The website traffic is extremely low, with a lack of a user base; contact information, company address, and webpage structure closely resemble those of known scam platforms.
User Protection Risk
There is no real customer support system, and the "money-back guarantee" is difficult to fulfill, making investor claims challenging to enforce.
