Blazemarkets review

On-line since: 2023
Country of origin: Australia, Saint Vincent and the Grenadines, the United Kingdom
Regulation: Financial Services Authority St. Vincent and the Grenadines
Payment options: bitcoin wallets, wire transfer, and credit cards
Minimum account size: $100
Minimum lot size: 0.01 lot
Leverage: 1:200
Spreads: -

About the company:

Blaze Markets is a brokerage company founded in 2020. The company’s offices are located in three countries, namely Australia, Saint Vincent and the Grenadines, and in the United Kingdom.

According to the official website, the broker is licensed by the Financial Services Authority St. Vincent and the Grenadines. Notably, Saint Vincent and the Grenadines is the most popular offshore area where a company can be registered. Offshore areas in the state are free from taxes and there is no need to provide yearly reports. There, any company can receive a registration.

The company assures that all clients’ funds are kept at segregated accounts, which provides complete security.

Trading conditions

Blaze Markets offers its clients a popular trading platform – MetaTrader4.

It is one of such brokers that allow CFDs trading. The company’s clients may also benefit from such trading instruments as currency pairs, commodities, indices, crypto currencies, and some others.

The broker offers two account types – standard and PRO. For owners of a standard account, the minimum deposit totals $100, spread is 1 pip, the minimum trade size equals 0.01 lots, and the leverage is 1:200.

Meanwhile, those who choose a PRO account, have to invest at least $250. For this account type, spread is zero, the minimum trade size is 0.01 lot, whereas leverage is the same – 1:200.

Those who open a standard account should be aware about a 0.2% commission for all types of trading instruments. In case of a PRO account, the commission depends on a trading instrument. Thus, for currency pairs, the commission totals $4, for metals and CFDs, it is $8, and for cryptocurrencies, it is 0.2%. Scalping and hedging are available on both account types.

Notably, on the website, you can find some information about a CENT account, but there are no details. We only know that this account type mostly suits beginning traders and those who are not planning to invest big sums.

To deposit and withdraw funds, clients can use bitcoin wallets, wire transfer or credit cards.

Support service

Traders can contact the company’s managers via the feedback form. To do so, they should present the main personal information and explain a problem. After that, it is necessary to send a request and wait for an answer. Apart from that, customers have an opportunity to contact a manager via phone number (the UK office) or email.

Feedback

In most cases, traders leave negative comments. They complain that their funds vanish from their accounts and they cannot contact the company’s managers.

Advantages and disadvantages

Pros:

• scalping and hedging
• various methods to deposit and withdraw funds

Cons:

• feedback form is the main way to contact a manager
• company’s registration in the offshore area
• numerous negative reviews