Score
BLGlobal
New Zealand|5-10 years| http://www.blgm.co.nz/
Website
Rating Index
Contact
Licenses
Licensed Institution：BL GLOBAL MARKETS LIMITED
License No.：414426
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
New Zealand
5-10 years Suspicious Regulatory License Suspicious Scope of Business New Zealand Straight Through Processing(STP) Revoked High potential riskUsers who viewed BLGlobal also viewed..
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Genealogy
VIP is not activated.Company Summary
Note: Regrettably, the official website of BLGlobal, namely http://www.blgm.co.nz/, is currently experiencing functionality issues.
| BLGlobal Review Summary | |
| Registered Country/Region | New Zealand |
| Regulation | FMA (Revoked) |
| Market Instruments | Currency pairs, precious metals, and crude oil products |
| Leverage | N/A |
| EUR/ USD Spread | N/A |
| Trading Platforms | MT4 |
| Minimum Deposit | N/A |
| Customer Support | Phone and email |
What is BLGlobal？
BLGlobal, a brokerage registered in New Zealand. It trades currency pairs, precious metals, and crude oil products, BLGlobal offers the popular MT4 trading platform to its clients. Moreover, BLGlobal provides customer support services via phone and email. However, concerns about of their trading platform have been raised due to the unavailability of their official website and revoked FMA license.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
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Pros of BLGlobal:
- MT4 Supported: BLGlobal offers support for the widely used MetaTrader 4 (MT4) trading platform, providing traders with familiarity and a range of tools for analysis and execution.
Cons of BLGlobal:
- FMA (Revoked): BLGlobal's regulatory status with the Financial Markets Authority (FMA) has been revoked. This revocation means that BLGlobal is no longer under the oversight and regulation of the FMA, which can raise concerns about the brokers credibility, adherence to regulatory standards, and the level of protection available to traders.
- Reports of Withdrawal Issues: There have been concerning reports of withdrawal difficulties associated with BLGlobal, indicating potential operational and financial risks for traders.
- Inaccessible Website: The unavailability of BLGlobal's official website raises red flags regarding the transparency and accessibility of information and services.
- Limited Product Selection: BLGlobal offers a limited selection of products compared with other brokers, potentially restricting diversification opportunities for traders.
- Unclear Trading Conditions: BLGlobal's trading conditions, including information on spreads, commissions, swaps, account types, and funding methods, are unclear, which can lead to uncertainty and potential surprises for traders.
Is BLGlobal Safe or Scam？
The regulatory status of New Zealand-based trading platform under the Financial Markets Authority (FMA) is currently abnormal, with the official regulatory status marked as “Revoked.” (License Type: Straight Through Processing (STP) with license number 414426). This situation alerts investors to potential risks associated with engaging with the platform.
Additionally, the unavailability of their official website further compounds worries about the dependability of their trading platform. The lack of access to essential information raises significant doubts about the legitimacy of the platform and can lead to increased uncertainties for investors considering participation.
Market Instruments
BLGlobal offers trading instruments including popular currency pairs in the Forex market, precious metals, and crude oil products. This means that traders on the platform have the opportunity to engage in currency trading with major and minor currency pairs, such as EUR/USD, GBP/JPY, or AUD/CAD.
Additionally, they can trade precious metals like gold and silver, which are often considered safe-haven assets in times of economic uncertainty. Furthermore, BLGlobal provides access to crude oil products, allowing traders to speculate on the price movements of commodities like Brent crude oil or West Texas Intermediate (WTI) crude oil.
Trading Platforms
BLGlobal provides the MetaTrader 4 (MT4) trading platform for its clients, a widely used and highly respected platform in the financial industry. MT4 offers a user-friendly interface with advanced charting tools, technical analysis capabilities, and customizable indicators, allowing traders to conduct in-depth market analysis and make well-informed trading decisions. The platform supports automated trading through expert advisors (EAs) and allows for the implementation of various trading strategies, including scalping, hedging, and algorithmic trading.
Additionally, BLGlobal's MT4 platform offers real-time quotes, news updates, and economic calendars to keep traders informed about market developments that may impact their trading positions. Traders can access a wide range of financial instruments, including currency pairs, commodities, and indices, all from within the same platform. With secure and reliable execution, traders can place market orders, set stop-loss and take-profit levels, and monitor their positions in real-time.
User Exposure on WikiFX
We highly recommend that you thoroughly review the reports available on our website concerning withdrawal difficulties and scams. Prior to engaging in any trading activities, we encourage you to visit our platform to access the necessary information. In the unfortunate event that you encounter fraudulent brokers or become a victim of their practices, we kindly request that you report the incident through our Exposure section. We greatly appreciate your cooperation, and our team of experts is dedicated to assisting you in resolving any issues you may encounter.
Customer Service
Customers can get in touch with customer service line using the information provided below:
Telephone: +64 9 367 6888
Email: cs@blgm.co.nz
Conclusion
Overall, while BLGlobal provides support for the popular MT4 platform, the reports of withdrawal issues, an inaccessible website, revoked license, and unclear trading conditions raise significant concerns for potential traders, highlighting the importance of thorough due diligence and caution when considering engagement with the brokerage.
Frequently Asked Questions (FAQs)
| Q 1: | Is BLGlobal regulated by any financial authority？ |
| A 1: | No. It has been verified that this broker currently has no valid regulation. |
| Q 2: | How can I contact the customer support team at BLGlobal？ |
| A 2: | You can contact via phone: +64 9 367 6888 and email: cs@blgm.co.nz. |
| Q 3: | What platform does BLGlobal offer？ |
| A 3: | It offers MT4. |
| Q 4: | What services and products BLGlobal provides？ |
| A 4: | It provides currency pairs, precious metals, and crude oil products. |
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- New Zealand Straight Through Processing(STP) Revoked
- High potential risk
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FX2587103885
Hong Kong
During the 3 weeks before February 28th, the system showed that my account is “banned”. And the broker is banned for search since March 2nd. There is still $3000 left in my account. The former address, 1502, No. 111, Tiyu West Road, Guangzhou, is a facade now. Hope related regulator see to this. It is simply a scam!
Exposure
2020-03-04
FX6044908092
Hong Kong
My experience was similar to the article. Firstly, they invited me for interview with high salary and boasted how promising the company would be, which motivated us a lot. After we joined the company, they enabled us to use virtual account. Having trapped us successfully, they induced us to deposit money, saying that monthly income of 100 thousand RMB is accessible. I didn’t resist the temptation and deposited 7000 RMB, while they said that the threshold is at least 21000 RMB. Given that I was a beginning practitioner. They lowered the threshold and told me to deposit fund into BLGlobal . At first, I was excited at the profit. Then I made constant losses, until my account becoming forced liquidation. Eventually, there was only 559.72 RMB left. As no more money left, I applied for the withdrawal. They agreed my request in case that I found that suspicious. I haven’t realized that I was cheated until I saw this article. And I figure out that the receipt is blank. One can seen from my uploaded annex.
Exposure
2020-02-21
FX3783273521
Hong Kong
Look at the picture, peers know the knows the lowdown on these top platforms. new comers should pay more attention to it! These recorded platform are so disgusting.
Exposure
2019-09-06
FX1078299926
Peru
I have absolutely no interest in this platform and for one thing it provides very little information which shows a lack of sincerity in my opinion. On the other hand, and more importantly, it seems very insecure! Without reliable supervision, I am put off by bad reviews from other users.
Neutral
2022-11-30