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Safely of funds
Blaze Markets has been operating as a broker since 2020. The company is headquartered in Australia, Saint Vincent and the Grenadines, and the United Kingdom.
With Blaze Markets, clients can trade CFDs, currency pairs, commodities, indices, cryptocurrencies, etc. According to the company’s website, Blaze Markets Ltd. is licensed by the Financial Services Authority (FSA) of St. Vincent and the Grenadines as an International Business Company with the registration number 26027 BC 2020. However, the information about companies under this jurisdiction is not available online. Therefore, it is impossible to check the authenticity of this license.
It is also worth mentioning that in Saint Vincent and the Grenadines, the requirements for registering a legal entity are not strict. Almost everyone can register a company there. The local authorities will require a registration fee.
At the same time, the broker states on its website that clients’ funds are held in segregated bank accounts that are separate from the broker’s money. So, to some extent, Blaze Markets ensures the security of invested funds.
Trading conditions
The broker offers super low spreads and high execution speed. The available trading platform is MetaTrader 4, a widely popular platform among traders.
Trading accounts with Blaze Markets are suitable for day traders and scalpers and can also be used for trading with expert advisors. Let’s go through all of them.
The Standard account type requires you to have a minimum deposit of $100. The spread is just 1 pip and the trade size is 0.01 lots. The available leverage is 1:200 and the stop-out level starts at 30%. This type of account allows scalping and hedging. The broker will charge a 0.2% commission (per lot per side).
The Pro account type is good for those who are looking for tight spreads for scalping or intraday trading. The minimum deposit is $250, the spreads are 0.0 pips, and the minimum trade size is 0.01 lots. As with the first account type, the leverage is 1:200 and the stop-out level is 30%. Scalping and hedging are also allowed. The broker charges $4 for trading Forex and $8 for trading metals and CFDs. For cryptocurrency trading, a 0.2% commission will be charged.
The Cent account is suitable for beginners and those who want to trade with small amounts. This type of account is also a great option for those who use trading strategies that require big sums of money but who are lacking them at the moment.
Blaze Markets offers a wide range of payment methods, including Bitcoin wallets, wire transfers, and credit cards.
Customer support
Clients can reach out to the company’s managers through a feedback form, which is not the most convenient way to contact the company. They need to fill out a short questionnaire and leave a comment with a question they have. The website also features the official address (in Saint Vincent and the Grenadines), the UK phone number, and email.
Traders’ feedback
There is plenty of negative feedback about Blazer Markets online. Traders complain that their investments with Blazer Markets have simply vanished. Sometimes, trading accounts are blocked. Managers are unable to explain anything or cannot be reached at all.
Pros and Cons
Advantages:
- very low spreads
- scalping and hedging available
- various methods for depositing and withdrawing funds
- popular trading platform
Disadvantages:
- customer support is hard to reach
- offshore registration
- many negative reviews
