Blumanstock

GENERAL INFORMATION

BlumanStock is a forex broker that also offers trading education to clients. The company claims to be an award-winning forex broker. Interestingly, every shady company in the market says this about itself. You can never trust a company simply by what they tell you. Illegitimate companies will say anything to get you to invest your cash.

BlumanStock is an offshore broker bearing all hallmarks of a scam. But Taking a quick glance at BlumanStock interface is enough to make you believe that this is the broker that will provide you with trading opportunities to create a diverse portfolio and watch your money grow. However, joining this broker will be a huge mistake and here are the reasons why.

BlumanStock claims to be fully regulated and this is the first lie its trying to feed us. the address of this broker is in Marshall Islands which is an offshore zone for forex trade and there is no financial regulator for forex brokers. On top of that, anyone can register a company via the Internet without having to set foot there. This is sufficient proof that BlumanStock is non-legit and trading with it will expose your precious money to risk.

Scam works in different ways. It could be either that you receive an unsolicited telephone call or you see one of these flashy ads on the Internet or the social media promising you a quick and easy profit. Scammers will promise you the sky and the earth until you give way to temptation and deposit money. Once you give them money you get caught in the scammers mousetrap and the cheese in the shape of a big fat money fall is gone! It may take some time before you realise that you are being scammed.

BlumanStock is a forex broker that also offers trading education to clients. The company claims to be an award-winning forex broker. Interestingly, every shady company in the market says this about itself. You can never trust a company simply by what they tell you

Better stay away from these scammers and always run background checks to make sure that the broker you are about to open an account with is properly regulated. The security of the funds depends on this. BlumanStock is a company that is operating without a regulatory license. This company is operating from an offshore location without a forex regulator. This company is offering financial services illegally.

Additionally, this companys transparency level is terrible. The company does not introduce us to any of the founders or team members. We find this to be unusual for a company that claims to be reliable.

For these reasons, we cannot recommend this company to you.

ACCOUNT AND LEVERAGE

There are five main accounts to choose from on BlumanStock. These include the Green, Premium, Platinum, Executive, and Presidential accounts.

The Green account requires a minimum deposit of €5,000. This gives clients spreads between 2.5 pips to 3 pips. Additionally, clients get a dedicated personal analyst.

On the other hand, the Premium account requires a minimum deposit of €25,000. The spreads for this account start from 2 to 2.5 pips.

The next account is the Platinum account. This requires a minimum deposit of €50,000. The spreads for this account start from 1.5 pips to 2 pips.

Next up is the Executive account. This requires a minimum deposit of €100,000. For that, clients get spreads starting from 1 pip to 1.5 pips.

The final account is the Presidential account. This one accepts a minimum deposit of €250,000. This gives clients spreads from 0.5 to 1 pips.

These are some of the most expensive accounts in the market. Additionally, the company offers very high leverage. This increases the risk tha6t clients face in the market.

BlumanStock is said to have a minimum deposit of $100, but their most basic account type requires an initial investment of EUR 5000. But We consider the amount of the minimum initial deposit to be too high and if you compare it with what legit brokers would ask for, i.e. $1-5, or $50-$100, so you will see that there is a big difference.

SPREADS AND COMMISSION

The EUR/USD spread at BlumanStock is said to be around 2.5 – 3 pips, which isnt favorable for traders.

TRADING INSTRUMENTS

BlumanStock trades in forex, commodities, stocks, indices, metals, cryptocurrencies and shares.

TRADING PLATFORM

BlumanStock offers trading on the good old Metatrader4 (MT4) – a platform we generally recommend. But given that this broker is an outright scam, we would advise you to select among well-regulated MT4 brokers. Therefore this is the software that is at traders disposal and a web trader as the trading platform.

We have already pointed out that MT4 offers incredible charting options that contain various charts, time frames, colours and even the option of creating customised templates.

DEPOSIT AND WITHDRAWAL METHOD

The deposit and withdrawal methods available to the clients include payments via a credit card, bank transfer, Neteller, Skrill and Sofort. However, the minimum deposit at BlumanStock is said to have a minimum deposit of $100, but their most basic account type requires an initial investment of EUR 5000. The amount when making a deposit via credit card is 250 EUR/GBP and via wire transfer – 3,000 EUR/GBP. The minimum withdrawal amount via wire transfer is also 3,000 EUR/GBP.

As per the company‘s policy, if a trading account stays inactive for over 6 months, it incurs a 10% monthly fee. We must say that a percentage fee may result in a big chunk of money taken from the client’s account. Normally legit brokers would ask for a fixed fee, not a percentage.

CUSTOMER SERVICE

There are two main channels to reach the customer support team of BlumanStock. You can give the team a call at +441213143345. Additionally, you can email the team at support@blumanstock.com. Further, you can fill out a contact form on the websites contact us page.