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Blockchain Exchange Pro Review - is it scam or safe?

Blockchain Exchange Pro Review - is blockchainexchangepro.com scam or good crypto broker?

RATING: 1.1 / 6 REVIEWS Blockchain Exchange Pro
Blockchain Exchange Pro is an offshore broker. Your money is not safe.

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 Blockchain Exchange Pro is broker brand owned and operated by the Dominican company Options Tech Limited. It’s stated address is at 8 Copthall, Rosean Valley. We have our doubts about this brokerage – read the whole review to find out why!

 

Disadvantages 

 

Major security concerns

 

We have major security concerns about the brokerage and the company operating it. Not only does the government of Dominica not include within its regulatory framework forex trading, but, furthermore, prestigious regulatory agency FCA has issued a warning regarding the company behind the brokerage. We read that “This firm is not authorized or registered by us but has been targeting people in the UK, claiming to be an authorized firm”, and then they go on to say that the firm is most probably a fraudster and should not be trusted. 

 

Such clear cut evidence should unambiguously tell us that Blockchain Exchange Pro is not a legitimate brokerage and that clients funds will not be safe with them. 

 

Without compliance to a trust-worthy regulatory organ - we have no guarantee of the segregation of accounts i.e. we do not know whether the brokerage handles the money of their clients separately from their own, which greatly increases the chance for fraud. Clients also do not participate in a compensatory mechanism, such as the Investor Compensation Fund of the Cysec authorities, where by the traders losses may be covered in the unlikely case of the brokerage’s bankruptcy. All this, and much more, impels us to advise interested traders search for better and safer trading conditions. Here is a list of our top Cysec-regulated forex brokers:

 

>>List of Cysec-regulated forex brokers<< 

 

 

Not enough information 

 

There is no information to be found on the website regarding account types, minimum deposits, leverage, pretty much everything that constitutes the trading conditions of a brokerage. The lack of information should always be seen as huge negative, but having in mind the regulatory status of the brokerage, it is no surprising it is missing. BEP does not even let us know what sort of payment methods are available for potential clients. We would advise clients to always be as informed as possible before deciding to trade with a brokerage. 

 

Restrictive withdrawal conditions 

 

We read in the Terms and Conditions of the brokerage that there is a turnover requirement for withdrawal. The exact words are "Turn over requirements: 3 times over without bonus and 30 times over with allocated bonus." This means that a trader must achieve a turn over that amounts to three times the initial deposit, or thirty times the deposit if they have recieved a bonus. This is a highly unfavorable measure and raises concerns about the brokers intentions.

 

Advantages 

 

Pretty good web-based trading platform 

 

After registering for a demo account and activating it through email, we were granted access to the trading platform of the brokerage. On it we could see that the brokerage is in fact a binary broker. The charting is pretty readable and crisp. Here is a screenshot: 

Click to zoom.

 

 

Wide variety of crypto-currencies 

 

On the trading platform we could see a number of cryptos which is always a welcoming sign. Potential clients of the brokerage may trade all the most popular coins such as Ripple, Litecoin, Bitcoin and many more. However, having in mind the troubling security status of the company behind the brokerage, we recommend interested traders check out our list of trust-worthy binary options brokers:

>>Trustworthy Binary options brokers<<

 

 

Conclusion 

 

Going through the brokers website and its trading platform – we stumbled across all the warning signs and more. There is a serious lack of information on crucial aspects of a brokerage, as well a lack of clarity as to precisely what the brokerage is offering. However, most important of all is that the FCA has issued a warning about the company behind the brokerage, stating it is most likely a fraud and that interested traders should not trust it. All this compels us to say that traders should not risk investing with Blockchain Exchange Pro.

 

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Traders` reviews for Blockchain Exchange Pro

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Soo much stress

I would love to see these guys go down, Caused me soo much stress.

Michael Beaumont
Anthony Joseph

Probably not their real names.

karen england 09/28/2018

information

Does anybody know where this firm is lodged if any anybody out there would like to find these scammers please contact me through this web site

colin norris 09/27/2018

it seems that the web site is dead

started trading with this firm in late April all went well until may when I asked to withdraw I started with £5000 and by may my account the balance was £17360 I have been unable to get any of my monies back.
know it seems that the web site is dead as are there phones.
the name of the so called account manager is Anthony Joseph he is a scammer don't trust is mane

colin norris 09/25/2018

Blockchain Exchange Pro - unable to get back the money I invested

In April last, I invested a total of £10,000 in the above company. I have not received a single penny in dividends from this firm and am unable to get back the money I invested. There is no way of contacting them, either by telephone or email and letters to the address 160 City Road, London are not answered. Am at my wit's end wondering how to recover this £10,000 which I can ill-afford to lose. Can anyone help with some advice?

Sheila Margaret Bell 09/20/2018

blockchainexchangepro withdrawal

I invested £2000 my account is now 10,450. After the trial period I requested £5000, I was told. It would be in my account 7 to 14 days.Im now nearly 3 months and nothing in my account?been given lots of excuses. It had caused slot of financial stress, to the point I may have to sell my house.

Karen England 08/15/2018

Ripped off by blockchainexchangepro.com

I have been ripped off by blockchainexchangepro.com I had been researching trading platforms and most have a landing page for collecting emails and phone number and they all call you a million times a day if you haven't made your mind up and so I got blockchainexchangepro.com call me ans as I was skint I could only go £250 for my first deposit as the day's past they call and ask for me to deposit more some I agreed but I never had any cash for another2-3 weeks then I got another £250 again as a few day's past they called again and asked for more money at the same time telling that there is 3 levels which is not in there terms and conditions so in the end I paid them every last penny I had and told them that.

They traded my money in the software and it increased to £2000 I asked to withdraw because he said I could so I asked for £500 and waited then a week past and I looked in the record of transactions and my withdrawal have been cancelled so I used the software to withdraw everything in my account only to be told that they did not have some proof of ID and when they receive it it will take anther 30 day's before I get my money again this is not in there terms and conditions so I send my proof of Id and the month past with no payout for which I called and had words with the person who took my money I was so annoyed I that I swore at him and that's when I new he was ripping me off I still have no payment from him and really with I had seen this site before depositing.

I am gutted and that was my only chance to try and build up towards my pension as I am 53 without a pension.

Your discretion of the site is spot on.I do not want to give them any stares below but it is from 5 down to one but they should get nothing and get them shut down.

Derek Weller 08/15/2018
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