5 warning indications of an offshore trading scam, according to a review of Blink Trades
The company operates in Saint Vincent and Grenadines, for which they provided a registration number. Such companies are always suspicious because they are not working practically under any regulations, like Blink Trades.
|Broker status:||Unregulated / Offshore Broker|
|Regulated by:||No regulation|
|Blacklisted as a Scam by:||N/A|
|Owner:||Blink Trades LLC|
|Headquarters Country:||St.Vincent and Grenadines|
|Supported Platforms:||Web-Trader / MT5|
|Minimum Deposit:||200 EUR|
|Cryptocurrencies:||Yes – BTC, BNB, ADA|
|Types of Assets:||Forex, Crypto, Stocks, Indices, Commodities|
|Free Demo Account:||Yes.|
|Accepts US clients:||No.|
That’s exactly why most scamming companies will be registered offshore. The institutions there don’t bother with regulating the forex and trading market at all. The company doesn’t provide any phone number where it can be reached. Huge red flag at the start of this Blink Trades review.
Blink Trades Broker Scam Without a Legitimate Forex License?
Registration number and license number are two completely different things. This company is trying to mislead clients into believing that their registration number presented on the website is something good. Actually, it is not.
Above all, this company doesn’t have any license, especially not from Tier 1 Regulators like BaFin, FCA or ASIC. We wanted to do the full research and we checked a database of mentioned regulators.
As a result, we couldn’t find anything linked to Blink Trades broker.
Blink Trades provide a trusted trading platform, but they don’t provide any security. There is no negative balance protection, no license and no contact number anywhere, only an e-mail contact option. Stay away!
Why It Is Better Not to Choose An Unlicensed Broker
These companies are using dirty tricks to lead clients into their scamming net. This company for example is scamming traders from Italy and UK. They are often providing services that are not allowed according to regulations.
For example, cryptocurrencies are not allowed with FCA. Leverages higher than 1:50 are not allowed as well. Not to mention bonuses and similar benefits that companies are using as tricks.
Blink Trades Software – How Safe Is The Platform?
The company has done a very good job of hiding its downsides. They provide a very standard platform for trading which is Meta Trader 5. Besides that, the company states they provide clients with web trader as well.
This is very good compared to other companies, but don’t let that trick you. This Blink Trades review is showing that their web trader is nothing spectacular. To be precise it doesn’t exist.
This is standard for trading companies these days. Especially desktop version has a lot of advantages and functions. For example, this version offers a Market Depth function with sales information. It includes as well support for trading orders, execution models and more.
Once we wanted to check out web-trader we were redirected to MT5 again. If the company offers something that they can’t provide we should back out on time.
In short, even if it exists it would be questionable if it’s not manipulated. Like many other web-traders that we saw in the past that were presenting false information.
Blink Trades Range Investment Opportunities – Trading Instruments
With Blink Trades trading, you have a wide specter of assets available. To clarify, cryptocurrencies are not allowed with licensed brokers. Let’s name some available:
- Forex AUD/JPY, CAD/USD, GBP/EUR
- Commodities Gold, Platinum, Natural Gas
- Indices DAX30, FTSE100, S&P500
- Stocks Amazon, Adidas, Apple
- Cryptocurrencies BTC, ETH, USDT
Don’t forget that leverage is that leverage on these assets is very high and dangerous.
Where Does Blink Trades Commit Fraud? – Countries Of Service
Going through Blink Trades reviews we found that they are scamming people from:
We highly doubt these are the only countries. They are just avoiding countries that are very strict and powerful against scammers. By the end of this BlinkTrades review you will have a full conclusion.
Blink Trades Accounts Overview
The company only offers two different live account types. Those are Standard and Premium accounts. The minimum requirement is 200 EUR for Standard and 5000 EUR for Premium account.
Minimum lots are the same 0.01 and there is a commission on the Premium account in the amount of 0.05 dollars per micro-lot ( 0.01 )
Company Offers a Demo Account?
Great thing is that you can see exactly why not to trade with this broker. Checking spreads and platforms with a demo account you quickly realize it’s not worth it.
To invest money in a company that doesn’t have a license would be nonsense. Better than a demo account is a live micro account with 10$ investment.
Minimum Deposit and How Do I Withdraw?
As mentioned, the minimum requirement is 200 EUR. The first initial deposit needs to be done with a bank transfer. Others could be done with a debit or credit card.
After you submit the withdrawal, the company needs to confirm that. You can use only the method that you used for depositing.
Moreover, if you are not able to get the funds there, they ask you for alternative payment information.
Partnership and Bonuses
This program allows you to bring more people into Blink Trades company. For that, they have developed all logistics for advertisements. Your job is just to bring people. Sounds like a Ponzi scheme.
As a result, you can get up to 700$ for that affiliate program. Besides that, they offer revenue sharing. You allegedly get percentages and commissions from people that you bring into this scam.
Blink Trades Terms and Conditions
Since this broker is not regulated, we would take any T&C with reserve. Their spreads are 1pip for standard account + interbank spread. For Premium, you only have interbank spread.
This interbank spread represents the difference between the bidding and asking price of currencies.
Scammed by a Blink Trades Broker? – Allow Us to Hear Your Story.
The worst thing is when you think that everything is gone if you are scammed. That is not true. Share your story with us and let us know what happened.
We are sure that our experts can give you advice on your first step with a chargeback.
What Is the Chargeback Procedure?
This is a process that involves requests from cardholders or merchants to reverse transactions. It can be performed when a Credit or Debit card is used.
If you have never done this, don’t worry. Book a free consultation with our experts now!
FAQ About Blink Trades Broker
What Is Blink Trades?
It’s an offshore trading company that is registered in St. Vincent and Grenadines. Of course, they don’t have any Tier 1 Regulations.
Is Blink Trades a Scam Broker?
Yes. There are many indicators. No license, no contact info and high leverage.
Is Blink Trades Available in the United States or the UK?
The company only offers services to UK clients but not US.
Does Blink Trades Offer a Demo Account?
Before you open one of two live accounts, you can check their demo account first.