BlackRock Forex is a foreign exchange broker established in 2023, primarily offering trading services in Forex, indices, futures, commodities, and cryptocurrencies. The company's official website supports only English. The transparency of information on the official website is poor, with a lot of key information not disclosed, which may lead to misunderstandings and asymmetry of information. The company has not disclosed any registration or regulatory information, thus there is a certain risk to the safety of funds.
Registration and Regulation Information:
The BlackRock Forex official website does not disclose any registration or regulatory information, making it impossible to know in which country the broker is registered or by which institution it is regulated, posing a significant risk to the safety of funds.
Account Registration:
BlackRock Forex provides links to register for real and demo accounts, but it's important to note that selection and registration can only be done through the homepage (see image below), and it's not possible to access details of real accounts, including leverage, spreads, minimum deposits, fees, etc., by clicking on banners.
Account Types:
The BlackRock Forex official website does not reveal specific account types, only announcing real and demo accounts without disclosing detailed parameters.
Currently, the only option available to users is the Standard Account, for which some specific data have not been disclosed, revealing only the leverage ratio and trading platform.
Leverage Ratio:
BlackRock Forex does not reveal specific leverage ratios on its website, including how to use leverage or achieve the maximum leverage, only announcing a maximum leverage of 1:500 in the account type section.
Trading Products:
According to the BlackRock Forex official website, the company offers trading services in Forex, commodities, indices, futures, and cryptocurrencies. It mentions a low spread account for Forex trading, but in practice, it leads to the same entry point as the standard account.
Each product's page includes spread and leverage, but these are not explicitly stated, leading to potential ambiguity.
Deposits and Withdrawals:
BlackRock Forex's official website has listed available deposit channels, including various currency types for different regions and some globally accepted methods. Except for the global Over The Counter (OTC) system, deposits are instantaneous; however, withdrawal details are not as clear, being dependent on the region and submission times.
The lack of clear withdrawal timelines may lead to misunderstandings and unintended losses for users.
Trading Software:
According to information on BlackRock Forex's official website, the company offers trading software that it has developed in-house, available through four different channels.
The use of proprietary trading platforms may pose a higher risk to funds.
Customer Support
BlackRock Forex's official website does not provide any contact information, offering only an inaccessible online contact page, with the claimed 24/7 support lacking an access point.
BlackRock Forex does not offer basic support services on its official website, meaning users facing doubts and difficulties cannot obtain the necessary support and help.
Conclusion:
As a foreign exchange broker, BlackRock Forex provides a variety of trading options including Forex, commodities, indices, futures, and cryptocurrencies, but specific data for each product is not disclosed. However, the broker lacks information in several crucial areas such as company background, regulatory transparency, account details, and withdrawal processes, and is not regulated by any financial institution. For investors considering trading with BlackRock Forex, thorough research and risk assessment are essential.
Currently, BlackRock Forex is listed as "Suspected Scam" on the traderknows.
