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Score

1.58 /10
Danger

BlaFX

Hong Kong

Stoppage of Business

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Vanuatu Retail Forex License Revoked

High potential risk

https://blafx.com

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Comparison

Quantity 275

Exposure

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Score

Regulatory Index0.00

Business Index7.54

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

BETHLE ASTER GLOBAL INVESTMENT LIMITED

Company Abbreviation

BlaFX

Platform registered country and region

Hong Kong

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2024-12-23
  • This broker bas been verified to be stoppage of business, and it has been listed in WikiFX's Stoppage of Business list. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 249 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Exposure

275 pieces of exposure in total
Pyramid scheme complaint
Expose
Unable to Withdraw

Scammers. it is impossible to withdraw money.

Scammers. it is impossible to withdraw money.

2023-09-06 01:39
Unable to Withdraw

The deposit cannot be withdrawn

I started the withdrawal a while ago, and it was under review, and nothing arrived in my virtual wallet, please return my investment. Thank you

2023-09-05 11:10
Unable to Withdraw

CHEAT

I cannot withdraw my money. And I could not get it back in any way, the company confiscated the money from my account and that of many of my friends. We have been defrauded and we urgently request support.

2024-02-19 20:28
Unable to Withdraw

We can't withdraw our assets.

We are unable to withdraw our money. A forex company named bethle aster freezed our accounts and not allowing us to withdraw our assets. On 25 august they put a notice in their site and in telegram group that blafx is going to be suspended. Pay 27% more tax then we will open accounts. Some people paid and then too they did not open. Then after they closed their customer support and also are offline from that day. I made a complaint against bethle aster in CFTC website and SEC website. yesterday on 4 September that girl came online my team leader. tong yang. she replied my message of 25 august ..then she says. I won't give you a dollar. add more money for next project and we will recover. she said false things like she lost millions dollars she lost car house etc lies to convince that she was not part of that fraud. I have screenshots of everything. she forced me yesterday that add money or I shall delete our message chat in tele. I have her pic too

2023-09-05 17:31
Unable to Withdraw

Scammer

I can’t withdraw my funds. Is there at least some kind of compensation?

2023-09-04 02:05
Unable to Withdraw

Scammers

Does not withdraw money, wrote for support, at first they said about some taxes, then they stopped answering, it’s much easier than to solve the problem.

2023-09-04 17:08
Unable to Withdraw

Scam scammers

The Blafx.com trader carried out the promotion through deception from 08/18/2023. Without warning users of copy traders, the promotion was +100% to the replenished deposit and the withdrawal of funds was blocked until the end of 08/25/20023. On August 22, 2023, trading operations were stopped in Meta Trader 4 and the withdrawal of funds was blocked in the status subject to review. my deposit amount is 4411 US dollars, 500 of them are bonus.

2023-09-12 12:22
Unable to Withdraw

Impossible to withdraw money

Trader Blafx.com fraudulently held a promotion from 08/18/2023 without warning or consent of users (copy traders) promotion + 100% To the replenished deposit and blocked the withdrawal of funds until the end of the promotion on 08/25/2023. 08/22/2023 Blafx.c stopped trading operations with Meta Trader 4 and blocked the withdrawal of funds in the status (there are currently unprocessed orders for withdrawal or transfer, and the last operation cannot be completed, please wait for processing) from the account. The amount of my deposit is $7531, I am attaching screenshots from the Blafx.com account. On August 25, 2023, a message appeared on the site about restructuring and the payment of a tax (deposit) of 27% of the existing deposit if we want to withdraw our funds. After 08/25/2023 At the end of the promotion, the withdrawal policy did not change. Starting from 08/25/2023, it is impossible to withdraw funds; it says that the funds are in the “under consideration” status. Hope you help and support!

2023-09-04 02:17
Resolved

Scammers

They scammed me, I had $2268 in my account and it was impossible to withdraw.

2023-10-10 01:06
Unable to Withdraw

THEY DID NOT LET ME WITHDRAW MY MONEY

All the deposits I made are proof that they never responded to me after making the payment they asked me for, proof that they never unlocked my account, I need help, please, I beg you.

2023-09-09 11:23
Unable to Withdraw

Unable to withdraw

Unfortunately I invested in copy trading on the blafx platform for about 2 months. Lately they had some campaign where they said they will double the assets so clients get more profit, at the beginning of that campaign I tried to make withdrawal for my money and they said I can’t do it during the campaign. After campaign was done, I tried to withdraw my money but nothing happens, I contacted their customer support and they said I need to pay 27 % of my assets as taxes. I told them that I will file complaints on all regulatory bodies and their pages on the internet as well, if they don’t accept my withdrawal in the next 24 hours and they did nothing. The account linked to blafx to receive my funds is a Binance account. I appreciate if you tell me what steps can I take to handle that fraud please.

2023-09-07 16:12
Resolved

We were all very nicely cheated [d83d][de33]

Hello. My name is Alexander and I am also one of those people who are cheated in Blafx. It all started with the fact that a girl named Zola wrote to me on Instagram (she also introduced herself to others later as Nancy) and offered to earn money on the Defi platform, said that she was a trader with many years of experience and she had signals for trading. According to her, she just wanted to help me learn how to make good money. I started working and communicating with her, everything went well, I started earning, of course, not a lot, but I was surprised that everything was working out for me. I worked with her for more than a year and she constantly helped me, that's how we became friends and I began to believe and trust her. After some time, she told me that with her Ark Community team she created a project called Blafx and suggested that I go into it for more successful earnings and trading. Without hesitation, I followed her link, registered, deposited the first $25, and started copying the master trader. After all this, she said that I need to share this project with my friends by sending them a referral link. I began to bring people, many who did not believe in all this, and she began to throw off money for me so that I would bring my friends and acquaintances as much as possible. Even later, she offered to open an office and was ready to sponsor this whole thing, thank God that I did not have time to do this. She constantly told me that I need to invite more friends, the more the better for my earnings, fortunately I brought few people to this project, no one simply believed in it and everyone told me that we would all be thrown. I didn't trust anyone.

2023-09-04 19:30
Unable to Withdraw

It no longer allows me to log into my account

I can't log into my account to withdraw my money, it won't even let me enter the page

2023-09-04 05:27
Others

Blaxf changed their broker now they pretend to be another one

The blaxf platform stole our money a month ago now they pose as cloud bridge a currency trading platform there are people who still join this great scam I leave a photo of the broker so you can be careful

2023-09-22 07:50
Scam

SCAMMERS

Hello. BlaFX is the site I have been investing in for a while. In the first days of July, they said that they would pay the promotion as much as we deposited into our account under the name of the promotion. Of course, they restricted withdrawals during this promotional period. I have not been able to receive my money from this site since August 18 last year. The money belongs to me and I can't get it.. the company is under the name of changing hands. They told us we couldn't withdraw any money. They said that if I made another 10% investment after August 18th, my account would be verified. this figure was 15 percent. BlaFX increased it to 27% a few days later. I want my money back. What is done here is unethical. People are suffering. In this environment, some people use bank loans to sell their homes or cars.

2024-02-19 20:47
Unable to Withdraw

Scammers do not allow to withdraw money

Hello! It all started when a girl from China wrote to me on Instagram in the spring of this year; she introduced herself as Liu Tingting; After several days of communication, she offered me to earn money using her signals on a trading platform called DeFi. Everything went well, I made a small profit, after which she told me to withdraw my money and move on to the next project that she created together with traders who gave signals to the Ark Community called BLaFX, claiming that this project would be more large-scale and profitable. I immediately invested there all the money that I had withdrawn from DeFi and at first everything went well, I copied traders’ transactions, made a profit, and could withdraw money. Throughout the entire time, the girl from China who invited me actively wrote to me that I should invite friends and relatives, telling them to take out loans because... it guarantees that we will not lose our money. Suddenly BLaFX announced a promotion of +100% to the deposit and throughout the entire promotion there will be a ban on the withdrawal of funds, before this promotion there were no announcements either by email or on the website that withdrawal of money would be prohibited, this is a gross violation 19.08 Liu Tintin persuades me to deposit $2000 to get a bonus. 08/22 I learned from support that it is prohibited to withdraw money while the promotion is ongoing. A couple of days after this, support said that there were suspicious actions on my account and that to withdraw funds I needed to deposit the amount of 15% of the total deposit, a little later an announcement appeared on the site that the site was ceasing its activities and to withdraw funds you need to deposit 27 %, On the website, support wrote that you need to contact their telegram @Blafx967 when communicating with support, they started insulting me and did not give any normal explanation about the suspicious actions from my account. Please help me get my money back.

2023-09-07 23:04
    BlaFX · Company summary
    Aspect Information
    Company Name BlaFX
    Registered Country/Area Hong Kong
    Founded Year 5-10 years
    Regulation ASIC (Appointed Representative), VFSC (Retail Forex License)
    Minimum Deposit $300
    Maximum Leverage 1:400
    Trading Platforms MetaTrader4 (MT4)
    Products and Services Forex trading
    Demo Account Available
    Deposit & Withdrawal Only cryptocurrencies for deposit (No information provided about withdrawal options)
    Educational Resources Economic calendar, public holidays, profit calculator
    Customer Support Email support: service@blafxcrm.com, support01@blacrm.com, support@blafx.com
    Phone support: +852 58080807 (Hong Kong), +61 261452092 (Australia), 12056089251 (United States)

    Overview of BlaFX

    BlaFX is a trading platform that prioritizes regulatory compliance to provide a secure and trustworthy environment for and holds a Retail Forex License from the Vanuatu Financial Services Commission (VFSC). These regulatory licenses validate BlaFX's adherence to stringent regulations and industry standards, ensuring client protection, market integrity, and adherence to financial guidelines.

    BlaFX offers two types of trading accounts: Standard and ECN. The platform operates on the popular MetaTrader4 (MT4) trading platform, offering a user-friendly interface, a wide range of trading instruments, and features tailored to support forex trading.

    BlaFX focuses on foreign exchange (forex) trading, providing a relatively user-friendly environment for traders to engage in forex activities. BlaFX also offers educational resources such as an economic calendar, public holiday information, and a profit calculator to enhance traders' understanding of economics and financial markets. The platform offers various contact options and aiming to reply to inquiries within 24 hours on working days.

    image.png

    Is BlaFX legit or a scam？

    BlaFX prioritizes regulatory compliance to ensure a secure and trustworthy trading environment for its clients. The company operates under the supervision of two regulatory bodies, providing comprehensive oversight and adherence to industry standards.

    BlaFX is regulated by the Australia Securities & Investment Commission (ASIC) as an Appointed Representative (AR). With License No. 001302684, BlaFX complies with the regulatory framework established by ASIC. This regulatory body is recognized for its stringent regulations, which include client protection, market integrity, and strict adherence to financial industry guidelines.

    regulation

    BlaFX holds a Retail Forex License from the Vanuatu Financial Services Commission (VFSC) with License No. 14663. VFSC is the financial regulatory authority in Vanuatu and oversees the operations of financial service providers. By obtaining this license, BlaFX demonstrates its commitment to maintaining regulatory compliance and meeting the standards set by VFSC for retail forex trading services.

    regulation

    By operating under the supervision of these regulatory bodies, BlaFX assures its clients of a transparent and secure trading environment. These licenses validate BlaFX's adherence to regulatory requirements, ensuring that clients' interests are protected and that the company operates with integrity and accountability.

    Pros and Cons

    BlaFX offers a range of advantages that contribute to its appeal as a trading platform. Firstly, it provides comprehensive trading tools that empower users with the necessary resources to analyze the markets and make informed trading decisions. The platform also boasts a user-friendly interface, making it accessible to traders of all skill levels. Additionally, BlaFX offers extensive educational resources, including an economic calendar and a profit calculator, which enhance users' understanding of the financial markets. The platform provides reliable market data and implements robust security measures to ensure a safe trading environment. Lastly, BlaFX's customer support is highly responsive, ready to assist users with any inquiries or concerns they may have.

    Despite its strengths, BlaFX does have a few limitations. One notable drawback is its exclusive support for cryptocurrency deposits, which may limit the deposit options for traders who prefer other payment methods. Additionally, the website lacks explicit information about withdrawal options, necessitating users to contact customer support for more details. While these limitations may not significantly impact all traders, it is important for potential users to be aware of these restrictions and consider whether they align with their preferences and requirements. Conducting thorough research and seeking clarification from customer support can help users make an informed decision regarding the suitability of BlaFX as a trading platform.

    Pros Cons
    Comprehensive trading tools Exclusive support for cryptocurrency deposits
    User-friendly interface Lack of explicit information about withdrawal options
    Extensive educational resources
    Reliable market data
    Robust security measures
    Responsive customer support
    pros

    Market Instruments

    BlaFX is primarily designed as a platform for foreign exchange (forex) trading. It focuses on providing a robust and user-friendly environment for individuals to engage in forex trading activities. With a wide range of currency pairs available, BlaFX allows traders to participate in the global forex market and take advantage of price fluctuations to potentially generate profits. The platform offers various tools, resources, and features specifically tailored to support forex trading, empowering traders to make informed decisions and execute trades efficiently.

    Account Types

    BlaFX offers two types of trading accounts: Standard and ECN. Each account has different requirements and features tailored to meet the varying needs of traders.

    The Standard account is suitable for traders looking for a more accessible entry point. To open a Standard account, the minimum initial deposit required is $300. This account type provides traders with a range of trading instruments and features to engage in the financial markets.

    On the other hand, the ECN account is designed for more experienced and high-volume traders. It offers enhanced trading conditions and direct market access. The ECN account requires a higher initial capital of $5,000, reflecting its more advanced features and potential for larger trading volumes.

    By offering both Standard and ECN accounts, BlaFX caters to traders with different levels of experience and trading preferences. The varying minimum deposit requirements allow traders to choose an account type that aligns with their trading goals and financial capabilities.

    How to Open an Account？

    To open an account with BlaFX, please follow these steps:

    1. Visit the BlaFX website: Go to the official website of BlaFX, which is https://blafx.com/.

    2. Click on “Create Account”: Look for the “Create Account” or similar button on the website's homepage, usually located at the top right corner or in the main menu.

    open-account

    3. Fill out the registration form: Clicking on the “Create Account” button will redirect you to the account registration page. Fill out the required information, which typically includes personal details such as name, email address, phone number, and country of residence.

    open-account

    4. Choose the account type: Select the type of trading account that suits your trading preferences and goals.

    5. Read and agree to the terms and conditions: Carefully review the terms and conditions of BlaFX before proceeding. Make sure you understand and agree to the terms before proceeding with your account registration.

    6. Submit your application: Once you have filled in all the required information and agreed to the terms and conditions, submit your account registration application.

    7. Fund your account: Once your account is verified, you can proceed to fund your trading account. BlaFX may provide various deposit methods, such as cryptocurrencies or other payment options. Choose the preferred deposit method and follow the instructions provided to add funds to your account.

    8. Start trading: Once your account is funded, you can log in to the trading platform provided by BlaFX and start trading.

    Copy Trade

    Clients of BlaFX have the opportunity to benefit from copy trading, a feature that allows them to automatically replicate the trading strategies of successful professional traders. With copy trading, clients can follow and copy the trades of experienced traders without the need to spend extensive time and effort developing their own trading strategies. This feature provides a convenient and efficient way for clients to potentially profit from the expertise and track records of established traders.

    copy-trade

    Leverage

    When it comes to trading leverage, BlaFX offers a generous range with a maximum level of 100:1 to 400:1. It's important to note that while leverage can amplify potential gains, it can also increase losses. Therefore, inexperienced traders are advised to exercise caution and avoid using excessively high leverage. It is essential to have a thorough understanding of the risks involved and to employ responsible risk management strategies when utilizing leverage in trading.

    Spreads &Commissions

    BlaFX exclusively supports cryptocurrency deposits as the available deposit option. However, the information regarding withdrawal options is not explicitly mentioned on the BlaFX website. It is recommended to contact BlaFX's customer support for detailed information regarding the available withdrawal methods and processes.

    Trading Platform

    BlaFX provides access to the MetaTrader4 (MT4) platform, which is renowned as the world's most popular trading platform. With MT4, users can trade on their mobile phones, tablets, or desktops, enjoying the convenience of trading anytime and anywhere. The platform is designed to cater to traders of all skill levels, offering a highly customized and user-friendly interface that enhances trading performance. MT4 is available for free download and can be utilized on both demo and live accounts.

    Some key features and benefits of MT4 include:

    1. Wide Range of Indicators: MT4 comes with 85 pre-installed indicators, empowering traders with deeper insights into market trends and enhancing their technical analysis capabilities.

    2. Automated Trading: The platform supports automated trading, allowing users to trade the market 24 hours a day, Monday to Friday, without the need for constant intervention. This feature is particularly beneficial for those who prefer algorithmic or robotic trading strategies.

    3. Backtesting Capability: MT4 offers a backtesting feature that enables users to test and optimize their trading strategies using historical data. This helps traders assess the performance of their strategies and make necessary adjustments for improved results.

    4. Analytical Tools: MT4 provides a range of analytical tools that aid in making informed trading decisions. These tools include charting capabilities, trend analysis, and various technical indicators, allowing users to conduct thorough market analysis.

    5. Efficient Position Control: The platform offers multiple chart settings and tools that facilitate quick and efficient position control. Traders can manage their positions, set stop-loss and take-profit levels, and monitor their trades effectively.

    6. Expanded Functionality: MT4 allows users to access up to 28 indicators and EA (Expert Advisor) plugins through the Smart Trader feature. This expands the functionality of the platform and offers additional tools for advanced trading strategies.

    By offering the MT4 platform, BlaFX equips traders with a powerful and versatile toolset to engage in the financial markets, making trading more efficient, convenient, and customizable to individual preferences and trading styles.

    trading-platform

    Deposit & Withdrawal

    The only available deposit option is cryptocurrencies. There is nothing about withdrawal options on the website.

    Customer Support

    BlaFX offers comprehensive customer support services to assist users with any inquiries or feedback they may have. Here are the various ways to contact the BlaFX service team:1. Email:- Customer Service Exclusive Email: service@blafxcrm.com- System Release Email: support01@blacrm.com- Institution Contact Email: support@blafx.com2. Response Time: BlaFX aims to reply to inquiries within 24 hours on working days.3. Company Information:- Hong Kong Office Address: Office 5, 8/F, Mega Cube, 8 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.- Hong Kong Customer Service Phone (English): +852 58080807 (Service hours: HKT Monday to Friday 10:00-16:00)- Australia Office Address: 145 Dean Street, Strathfield South, New South Wales 2136, Australia.- Australia Customer Service Phone (English): +61 261452092- United States Office Address: 110 16th St Denver CO 80202, United States.- United States Customer Service Phone (English): 12056089251BlaFX's customer support team is readily available to address any questions, concerns, or suggestions from users, ensuring a prompt and efficient resolution to their inquiries.

    customer-support

    Educational Resources

    BlaFX provides a range of educational resources to enhance your understanding of economics and financial markets. Here are some key offerings:

    1. Economic Calendar: BlaFX offers an economic calendar that provides comprehensive information about upcoming economic events, such as releases of economic indicators, central bank meetings, and important policy announcements. This calendar helps you stay informed about significant events that can impact financial markets, allowing you to make informed trading decisions.

    2. Public Holidays: BlaFX includes a feature that displays public holidays from various countries. This information is particularly useful for traders and investors as it allows them to anticipate market closures and plan their trading activities accordingly. Being aware of public holidays helps you avoid potential disruptions in the markets and manage your investments effectively.

    3. Profit Calculator: BlaFX provides a profit calculator tool that enables you to estimate potential profits or losses on your trades. By inputting relevant information such as entry and exit prices, trade size, and leverage, you can calculate the potential outcomes of your trades. This tool helps you analyze risk and reward scenarios, allowing you to make more informed decisions when entering or exiting trades.

    These educational resources offered by BlaFX aim to empower individuals with the knowledge and tools necessary to navigate the world of economics and financial markets effectively. Whether you are a beginner or an experienced trader, these resources can contribute to your understanding and decision-making process in the realm of finance.

    Conclusion

    In summary, BlaFX is a legitimate trading platform with a strong regulatory framework, offering diverse trading accounts, access to the MT4 platform, educational resources, and reliable customer support. Traders should conduct their own research and consider their specific trading needs before engaging with the platform.

    FAQs

    Q: What regulatory bodies oversee BlaFX's operations？

    A: BlaFX operates under the supervision of two regulatory bodies, Australia Securities & Investment Commission (ASIC) and Vanuatu Financial Services Commission (VFSC).

    Q: What are the minimum deposit requirements for opening a trading account with BlaFX？

    A: BlaFX offers two types of trading accounts: Standard and ECN. The Standard account requires a minimum initial deposit of $300.

    Q: Does BlaFX provide a demo account for practice trading？

    A: Yes, BlaFX offers a demo account that allows users to practice trading in a risk-free environment.

    Q: What trading platform does BlaFX offer？

    A: BlaFX provides access to the MetaTrader4 (MT4) platform, a widely recognized and popular trading platform in the industry.

    Q: How can I contact BlaFX's customer support team？

    A: BlaFX offers multiple channels for customer support. You can reach out to them through email BlaFX aims to respond to inquiries within 24 hours on working days. Additionally, you can contact their customer service phone numbers.

    News

    ExposureStay Away from BlaFX’s Ponzi Scheme

    Blafx is running a campaign and making people fools by swindling their money. The broker is alluring clients by saying they will double their assets and make more profit. But in real, they are swindling clients' money.

    WikiFX
    2023-09-12 15:17
    Stay Away from BlaFX’s Ponzi Scheme

    ExposureAnother BlaFX Victim Reported Complaint Over Withdrawal Difficulties

    Explore the recent complaint against BlaFX's withdrawal practices. This article delves into a victim's distressing experience, the pitfalls of unregulated brokers, and offers guidance on safeguarding investments.

    WikiFX
    2023-09-08 11:57
    Another BlaFX Victim Reported Complaint Over Withdrawal Difficulties

    Exposure WikiFX continues to receive complaint reports from investors regarding BlaFX.

    Protecting the legitimate rights and interests of forex traders is always WikiFX's primary concern. In this article, we will present two new cases to reveal how this broker has been withholding withdrawals from investors.

    WikiFX
    2023-09-01 18:35
    WikiFX continues to receive complaint reports from investors regarding BlaFX.

    ExposureBlaFX Scam Update: “They ask me to deposit more money for the withdrawal.”

    In the world of online trading, the allure of quick profits often obscures the potential dangers that lie beneath the surface. One such perilous scheme that has recently come to light is the BlaFX scam, a cunning ploy that preys on the dreams of unsuspecting traders. This article sheds light on the unacceptable tactics employed by BlaFX, where users are coerced into making a significant account deposit of 15% before being granted any withdrawal.

    WikiFX
    2023-08-30 18:31
    BlaFX Scam Update: “They ask me to deposit more money for the withdrawal.”
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    Hugher
    more than one year
    Gotta be real – BlaFX throws me off with this crypto-only deposit scene. Withdrawal deets are a mystery, and where's the love for MT4/MT5? Customer support is quick, but these quirks got me wondering if BlaFX is really my trading match.
    Gotta be real – BlaFX throws me off with this crypto-only deposit scene. Withdrawal deets are a mystery, and where's the love for MT4/MT5? Customer support is quick, but these quirks got me wondering if BlaFX is really my trading match.
    Translate to English
    2023-12-07 14:27
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    Theophilusiya
    more than one year
    BlaFX talks a big game about being regulated by VFSC and ASIC, and they offer Standard and ECN accounts on that MT4 vibe. Educational stuff and quick customer support are cool, but only supporting crypto deposits and keeping withdrawal info low-key feels kinda limiting.
    BlaFX talks a big game about being regulated by VFSC and ASIC, and they offer Standard and ECN accounts on that MT4 vibe. Educational stuff and quick customer support are cool, but only supporting crypto deposits and keeping withdrawal info low-key feels kinda limiting.
    Translate to English
    2023-12-06 16:21
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