BLOCKOTRADES

Note: BLOCKOTRADES' official website: https://blockotrades.com/ is currently inaccessible normally.

BLOCKOTRADES Information

BLOCKOTRADES is allegedly a forex and CFD broker founded in 2017 and registered in the United States. The broker claims to provide its clients with various tradable financial instruments including forex, metals, stocks and CFDs on cryptos. There are six different investment plans with minimum initial deposit from $100.

However, the broker does not maintain functional website so far, leaving its current operational status unknown to the public. Worsely, operation without valid regulation from authority bodies further exacerbates its trustworthiness and reliability.

Regulatory Status

Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of BLOCKOTRADES, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.

Downsides of BLOCKOTRADES

Unavailable website: BLOCKOTRADES' website cannot be opened currently, which indicates possibility of cease of operation.

Regulatory concerns: The broker operates without valid regulation by any financial institutions, meanig that it might not comply to industry standards. This heightens trading risks with them.

Limited transparency on trading conditions: BLOCKOTRADES does not disclose key information about trading conditions such as spread, leverage and commissions, which are essential benchmarks for clients to learn about their trading costs in advance.

What Can I Trade on BLOCKOTRADES?

BLOCKOTRADES offers trading in mainly four asset classes:

Forex (Foreign Exchange): The global marketplace for trading currencies, where one currency is exchanged for another based on market fluctuations.

Metals: Commodities like gold, silver, and copper, traded as investments or hedges against inflation and market volatility.

Stocks: Equity investments that represent ownership in a company, entitling shareholders to a share of its profits and potential capital gains.

CFDs on Cryptos (Contracts for Difference): Financial instruments that allow traders to speculate on the price movements of cryptocurrencies without owning the actual digital assets.

Investment Plan

BLOCKOTRADES claims to offer six types of investment plans with different investment scale, with minimum deposit from USD100, 300, 500, 1000, 5000, 10000 respectively. No more useful information about the plan details or other trading conditions.

Deposit and Withdrawal

BLOCKOTRADES only accepts payment via several cryptocurrencies (bitcoin, ethereum, litecoin, dogecoin, bitcoincash, ripple, busd, usdt, tron, zcash, bitcoin gold), perfectmoney, payeer, visa, mastercard and maestro,with minimum withdrawal requirement at $10.

It's always recommended not to make payment through cryptos, which is typical scam broker practice since crypto payments are anonymous and non-refundable.

Bonus

BLOCKOTRADES claims to offer a$50 referral bonus. However, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task.