blocksbrokers.com Reviews

The website blocksbrokers.com claims to be a global, multi-asset broker offering clients access to trading CFDs on forex, commodities, indices, and shares. It promotes a state-of-the-art trading platform, 24/7 customer support, and various financial services. However, several red flags and inconsistencies are present, which raise concerns about the legitimacy of this platform.

1. Unverifiable Company Information: The website is operated by “mcg marketing ltd,” a British investment company, but the legitimacy of this entity is questionable. The address provided is Suite 10 Mawtec House, New Street, Mawdesley, Ormskirk, Lancashire, United Kingdom, L40 2QP. It’s essential to verify the existence and credibility of this company through official business registries and financial authorities in the UK.

2. Lack of Regulatory Information: While the website claims to be registered and authorized by the UK government with license number 12825536, this information should be independently verified. Financial regulatory bodies, such as the Financial Conduct Authority (FCA) in the UK, provide databases to check the authorization status of financial service providers.

3. Restricted Jurisdictions: The website explicitly states that it does not provide services to residents of several countries, including the United States. This can be a tactic used by illegitimate platforms to avoid scrutiny from strict financial regulations in those jurisdictions.

4. High Interest Rate Claims: Promising a 7.2% interest rate on account balances, especially in the context of trading, is highly unusual and potentially misleading. Such high returns are not typical in legitimate financial markets and should be approached with extreme caution.

5. Disclaimers and Liability Waivers: The website includes disclaimers that absolve the platform from liability for any losses incurred from trading. While disclaimers are common in financial services, the language and extent of these disclaimers should be carefully evaluated.

6. No Trading Advice: The website explicitly states that it does not offer trading advice, recommendations, or guidance. This can be a way to avoid legal responsibility for any misleading information or investment decisions.

7. Generic and Ambiguous Content: The website’s content, including its descriptions of services and benefits, is quite generic and lacks specific details that would be expected from a reputable financial service provider.

8. Limited Information on Trading Platform Security: While the website mentions robust security measures, there is limited specific information about how they protect users’ funds and data.

9. Minimum Deposit Requirement: Requiring a minimum account deposit of $250 is not uncommon in the trading industry, but it can be a red flag when combined with other suspicious elements.

10. Use of Cryptocurrencies: While the platform offers trading in cryptocurrencies, this can be a high-risk area for investors, especially when combined with other questionable practices.

Given these red flags, it is strongly recommended to exercise extreme caution and conduct thorough, independent research before engaging with this platform. Potential investors should seek advice from financial professionals and verify all claims made by blocksbrokers.com through reliable, official sources.”

the reasons behind this review :
Unverifiable Company Information, Lack of Regulatory Information, Restricted Jurisdictions, High Interest Rate Claims, Disclaimers and Liability Waivers, No Trading Advice, Generic and Ambiguous Content, Limited Information on Trading Platform Security, Minimum Deposit Requirement, Use of Cryptocurrencies