Blaze Markets, founded in 2020, operates as an offshore and unregulated forex broker, officially registered in Saint Vincent and the Grenadines. It is important to note that Blaze Markets caters to clients from various countries, excluding the United States and certain nations subject to sanctions. One notable feature of Blaze Markets is its extensive array of free trading tools offered to clients.
About Blaze Markets
Established in 2020, Blaze Markets is a brokerage firm with a global presence, maintaining offices in key locations such as Australia, St. Vincent and the Grenadines, and the United Kingdom.
Blaze Markets distinguishes itself as a versatile broker, offering its clients the opportunity to trade a wide range of financial instruments, including CFDs, currency pairs, commodities, indices, cryptocurrencies, and various other assets.
On its official website, Blaze Markets Ltd. claims to hold a license from the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. However, it's worth noting that this information lacks concrete verification from publicly available sources. Saint Vincent and the Grenadines, being an island state in the southern Caribbean, is known for its relatively lenient regulations concerning licensed entities. This openness to registration implies that businesses can be established with relative ease, with the primary focus being on contributing to the local economy.
Blaze Markets asserts that it prioritizes the safety of client funds. They claim that all client funds are securely held in segregated bank accounts, distinctly separate from the company's operational accounts. This measure is designed to provide an additional layer of protection for clients.
Free Trading Tools
Blaze Markets distinguishes itself by providing an impressive array of free trading tools. These encompass various trading calculators such as pip calculators, profit calculators, and margin calculators. Traders seeking assistance with their trading strategies can benefit from specialized tools designed to calculate pivot points on charts, as well as a Fibonacci calculator to identify crucial support and resistance levels.
Blaze Markets offers a diverse range of trading instruments that should cater to the needs of most traders. Forex and CFD traders can access more than 45 popular forex pairs, along with over 20 different stock indices. Furthermore, the broker provides CFDs on various commodities, government bonds, and stocks from major US companies.
In addition to traditional assets, Blaze Markets has a robust offering for cryptocurrency traders. With over 20 crypto pairs available, traders can access not only major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) but also smaller-cap tokens such as THETA, Namecoin (NMC), and Tezos (XTZ), among others.
Blaze Markets exclusively supports MetaTrader 4 (MT4) as its trading platform. MT4 is available for download on Windows computers and as mobile versions for Apple and Android smartphones.
Blaze Markets offers two primary types of trading accounts: Standard and Pro. The Standard account requires a minimum deposit of $100, features spreads starting from 1 pip, and offers commission-free trading. On the other hand, the Pro account necessitates a minimum deposit of $250, boasts spreads from 0 pips, and levies commissions ranging from $4 to $8. Both account types charge a 0.2% commission fee for crypto trades.
Blaze Markets accommodates swap-free Islamic accounts upon request.
Blaze Markets accepts various funding methods, including Bitcoin, credit cards like Visa and MasterCard, and bank wire transfers. The minimum deposit for Bitcoin transfers is a mere $10, whereas bank wire or credit card deposits require $100 or more.
For client assistance, Blaze Markets provides a UK phone number and email support. It is important to note that the broker lacks a live chat function on its website, which may be considered inconvenient by some traders.
Pros and Cons:
Advantages of Blaze Market:
- Ultra-low spreads
- Scalping and hedging allowed
- Wide range of deposit and withdrawal methods
Disadvantages of Blaze Market:
- Inconvenient means of contacting company representatives
- Broker registered in an offshore zone
- Presence of negative reviews
Blaze Markets appears to be an intriguing new entrant in the brokerage space, particularly appealing to stock and crypto traders due to its expansive selection of these asset classes. The acceptance of Bitcoin as a deposit method also stands out as an advantage, reducing transaction costs and enhancing privacy.
However, it's vital to bear in mind that Blaze Markets operates offshore in a jurisdiction without forex broker regulation. Consequently, obtaining assistance in case of issues with the broker may prove challenging. As always, we strongly recommend that traders conduct thorough due diligence before depositing funds with any broker to mitigate potential risks.
Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.