Basiq Reserve (basiqreserve.com) has been flagged by Australian Securities and Investments Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The reporting at Basiq Reserve (basiqreserve.com) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Clean UI|API access
Cons: Limited ETF selection|Mobile app could be improved
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Basiq Reserve (basiqreserve.com) has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I lost a significant amount because Basiq Reserve (basiqreserve.com) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Wide product range|Personal attention|Dedicated account manager
Cons: Wish they had more educational resources|Desktop app not available on Linux
Basiq Reserve (basiqreserve.com) has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Clean UI|Intuitive for beginners
Cons: Desktop app not available on Linux|No live chat on mobile