My Blackstone Futures Review : Is it really a reputable broker?

Over the past few years, South African broker platforms have been continually growing and it’s good to know that Blackstone Futures is creating a buzz all over the internet. All positive traders’ reviews imply that it’s great to try. But, as a new forex trader, don’t forget to know everything about it before you make a decision.

Who is Behind this Broker?

Blackstone Futures is founded by Nick Sproule in 2009. Throughout the 9 years of availability in the industry, it is considered one of the oldest forex platforms in South Africa. Originally, its name was World Spreads and it became Blackstone Futures after 4 years.

As with other trusted trading solution out there, it’s regulated by the Financial Service Board (FSB). All the funds from different clients are in different accounts with ABSA. Plus, the withdrawals take a day to reach each client.

Trading Instruments

Blackstone Futures provides trade in stock indices, global equities, and commodities. This is available in two platforms such as the CloudTrade and MT4. Unlike the United Kingdom, the regulation of forex trading in South Africa is not strict. It also gives you an advantage during the price increase or decrease of finance instruments. Since you trade in Rand per point movement, the requirement to gain currency market exposure is not as complicated as you think. The company does not allow activities including arbitrage and scalping.

What does Latency Arbitrage Mean?

Commonly known as an effective trade strategy, latency arbitrage allows you to exploit the price differences between brokers and gain high profits. As with scalping, it’s important to respond to changes as quickly as possible. Plus, you can require inefficiencies in quotes between brokers.

Supported Trading Platforms

Aside from CloudTrade, Blackstone Futures supports MetaTrader 4. This is popular among many traders because of its overall features and ease of use.

CloudTrade

The name suggests how the CloudTrade platform works. This allows users to synchronize their trade data and accounts. This makes it user-friendly and comfortable to employ. It also gives reliable, functional, and accurate performance, allowing you to execute each market order and pending order. In addition, you can get CloudTrade app for your smartphones, from Android to IOS.

MT4

Known as the industry standard platform, MT4 is a more excellent alternative to various traders. Thanks to the tons of its amazing features. Due to its unconventional trading organization, foreign exchange agency model implementation, and competitive evaluation, it becomes the leading platform in the industry.

You can take advantage of its algorithmic traders and expert advisors to streamline your exchange and transform the process into a simpler one. Not only that, there’s more! It increases your chance to see the marketplace in the future. It’s going to keep you on track in real time and help judge exits or entrances.

Available Accounts

As with other forex trading brokers, a demo account is accessible for a month with R20000 in virtual money. As long as you have this free account, there is no need to fulfill any obligations.

Withdrawal and Deposit Methods

Unlike other forex brokers, your deposit and withdrawal option is limited. You can get wire transfers and the broker company. For you to open an account with them, you just need a minimum balance of R5000.

Blackstone Futures uses safe ways to receive your money. You will have the peace of mind that the transactions undergo a complex processing. You are rest assured that your money is safe, too.

Another withdrawal option to try is thru local bank transfer. Just prepare a certified proof of documentation before the submission of your withdrawal request. This consists of bank statements, proof of address, and scanned copies of ID.

Commissions, Spreads and Bonuses

Spreads – Blackstone Futures provides fixed spreads. For MT4, the spreads is equal to one pips on USD or EUR. For the CloudTrade, it’s the same as two pips for each pair.

Commission – There are no commission charges on every trade.

Leverage – The company platform provides users a leverage of 1:100. Yes, it sounds a mediocre ratio because there are higher leverages from other brokers. But remember that the higher the leverage, the greater the risk of serious losses.

Pros

  • FSA regulates all activities in Blackstone Futures

  • Trading is free of commissions

  • There are trading platform choices

  • MT4 has low fixed spreads

Cons

  • It lacks variable spreads

  • ECN environment is not available

  • Limited payment method

Conclusion

Despite the downsides, Blackstone Futures gives every trader the opportunity to trade in different financial instruments. Thanks to the CloudTrade and MT4 platforms. The fact that it doesn’t have an ECN environment or variable spreads, it raises suspicion among users and experts around the globe.