Not too sure on F04 - on my own ABB and others I've set up the "base frequency" is the normal mains frequency the motor expects, i.e. 50Hz for rest of the world, 60Hz for America.
The VFD uses this to work out the V/Hz curve when driving the motor, below base frequency the motor voltage is lowered as the inductance of the motor means its impedance drops with frequency, setting base frequency too low will apply too much voltage and send the motor over-current. Having the right V/Hz curve below base frequency puts the motor into constant-torque mode (one reason why you still need back-gear and gears to get best performance from a VFD-motor combination) and once above the base frequency the full mains voltage is applied, giving close to constant-power operation.
There should be a separate parameter to set the minimum frequency (F02?), which could be 0Hz if you wanted, be aware that motor cooling will be reduced a lot as the motor and its fan slow down (I *think* airflow is proportional to the square of the speed?) so either a thermal switch to halt the motor if it overheats or a cooling fan at low speeds is a Very Good Idea (I fitted a big axial fan on the end of the motor that "fails safe", comes on with the VFD's mains power and cuts out above 35Hz from the VFD** when the motor's own fan should supply enough cooling air, I run the motor down as low as 10Hz for jogging, a bit notchy but useful now and then, set my maximum to 85Hz to get 2500 RPM from a 1500 RPM lathe *for short periods* 150Hz may be a bit much unless the motor's built for it, a 3000 RPM motor would be running at 9000, might do a good impression of a hand-grenade).
HTH,
Dave H. (the other one)
**you may have the option to configure one of the VFD's relay outputs to open at a configured "supervisory frequency" if you want this feature and the VFD supports it