Blackstone500 claims to be an international trading online corporation, offering 24-hour access to a wide range of trading instruments including currencies trading in Forex, commodities, shares, indices, and Cryptocurrencies. The broker offers trading through the Activ8 – a popular trading platform, with leverage up to 1:30 and risk management tools. Despite all these benefits, some information on the website doesn’t actually add up because of the multiple discrepancies we are going to list.
Is Blackstone500 a scam or legit broker?
No, it is not safe to trade with Blackstone500 as it is not regulated. The broker doesn’t disclose the company behind the brand’s name. It claims to have headquarters in Zürich, Switzerland, but at the same time provides the UK contact number. In addition, according to the terms and conditions, Blackstone500 operates under the Estonian Governing laws. It is not clear which jurisdiction oversees the broker’s activities and after checking the registers of the major EU regulator we can say – none of them, as we couldn’t find any mentions of this broker.
Moreover, the UK’s Financial Conduct Authority has warned against Blackstone500:
“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by us. This firm is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization.”
The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As Blackstone500 got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.
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We advise all investors and traders to avoid Blackstone500 and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.com.