The BLOCKWAVE-EXCHANGE.COM website makes similar claims of being a licensed and regulated forex broker as do many other fraudulent businesses. They claim to have over 200,000 customers worldwide. They haven’t, however, offered any proof to back up their assertions. This broker is a good example of why it’s important to always verify the details to see if a forex broker is being truthful about their operations.
You must choose trustworthy, ethical forex brokers if you want to be successful as a trader. Numerous authorized businesses provide services related to currency trading. As a result, take your time opening an account and learn more about the broker. Assess their level of market experience as well to determine whether your money will be secure in their care.
HOW THEY WORK
The broker appears to be targeting individuals in UK. They assert that they provide an unparalleled fusion of low fees, quick execution, high-level liquidity, and an intuitive interface. They provide three different account kinds, each with different requirements.
The broker registered their domain in November 2023, and it will expire in November 2024, which we discovered when we checked. This brief window of time indicates that the broker intends to leave the market as soon as feasible.
We were unable to locate any relevant information regarding the company’s ownership or current executives. Even if the website has some images of people, some of them can be false. It was difficult to identify the individuals in the pictures. The broker’s lack of transparency on its present executives and founders suggests a tainted past.
Anonymity protects against legal repercussions. Scam brokers make it difficult for authorities to identify the people responsible for the fraudulent activity by hiding their identity. Furthermore, anonymity maintains the appearance of validity. Scam brokers may operate under a variety of identities, giving the impression of legitimacy to traders who are not cautious. This illusion would vanish if their genuine identities were revealed.
The broker has given any contact information. You can write them a note to get in contact with them, but they need personal information like your phone number and email address. You must ask them to call you in order to receive a phone call. This, we thought, was absurd for a broker that touts itself as customer-focused.
To open an account, the broker requires an astounding 10,000 euros as a minimum deposit. This is excessive as ordinary traders can open $5 accounts with even authorized firms. They haven’t mentioned the leverage, but the spread is set at 0.5 pip.
IN CONCLUSION
BLOCKWAVE-EXCHANGE.COM is a fraudulent forex broker that poses as a reputable financial institution. Regarding the services they provide, none of their claims are accurate. Their aim is to pilfer as much as they can from people.
Although they have made an effort to persuade traders that they are legitimate, a careful examination will reveal their genuine nature. Instead of falling for this con as a trader, deal with trustworthy, transparent, and authorized forex brokers who will safeguard your capital.