Blackwell Global review
This broker was not featured in our 2020 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
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Blackwell Global, also known as Blackwell Trader, is a global financial brokerage firm that deals in Forex trading through the Straight Through Processing protocol for direct market access trading. Blackwell Global was launched in the year 2010 in Cyprus, which is one of the most popular broker destinations in the entire world. Naturally, Blackwell Global regulation duties are assumed by the excellent Cyprus Securities and Exchanges Commission (CySEC), under the carefully guarded regulatory framework of the ECB and the European MiFID derivatives. Due to the extent of Cyprus’s participation in the European Economic Area Agreement (EEA), all CySEC regulated brokers are free to indulge in cross-border sharing of services without any additional authorizations. Therefore, Blackwell Global has a significant presence across the European continent, along with its representative office in London, UK. Since the Brexit and UK’s subsequent referendum from the EU, Blackwell Global is considering its options on its European regulatory status, and there is a good chance that the company might also set up its brokerage under the UK’s FCA guidelines. At present, the FCA works with the ECB by conforming to the MiFID derivatives, until further notice. Elsewhere in the world, Blackwell Global also has its satellite offices in Australia, New Zealand, Hong Kong, China, Singapore, and Nigeria in Africa. Although the broker has its presence in numerous major cities across the world, Blackwell Global seems to be regulated only by the CySEC, while other representative offices merely act as branches that do not have any significant role to play in the broker’s overall services portfolio. However, Blackwell Global does appear to have a large investor following in the Middle East and African region, where oil-rich states of the Arabian Gulf has a high concentration of high-net-worth individuals that make up a significant percentage of Blackwell Trader clientele.
|Forex, Precious Metals, Energies|
Blackwell Global Account Opening & Payment Options
Blackwell Global advertises itself as an STP broker that guarantees direct market access for its clients through the non-dealing desk (NDD) model. Customers are treated to a large liquidity pool that comprises of top investment banks and global exchange houses, which provide instant price quotes and competitive pricing. However, the STP model does not have the advantages of the ECN protocol, as Blackwell Global spreads start from 2 pips on major currency pairs such as the EUR/USD and the USD/JPY. Despite the lack of a commission, the broker does charge expensive spreads for most of its currency pairs, which might have an adverse impact on traders. STP trading accounts also accompany other problems of trading such as slippage and order requotes, which may prevent professional traders from enjoying some of the benefits offered by an ECN account. Blackwell Global has three different types of trading accounts according to the minimum initial deposit equirements. The smallest account option starts with a minimum deposit of $500 and up to a maximum of $10,000, which gets access to a maximum Blackwell Global leverage of 1:400. The primary account provides access to 32 different currency pairs, gold and silver trading, and the availability of a SWAP-free account for Islamic traders. Other than these benefits, there aren’t any other significant advantages to the basic account, which requires traders to invest a comparatively large initial deposit of at least $500. For deposits larger than $10,000 and up to $100,000, Blackwell Global offers a reduced leverage of 1:200 with access to a dedicated account manager and the Trading Central platform. Trading Central is a third-party market analysis software that provides timely information about the different factors that determine the price action of major currency pairs that are traded on the Forex markets. Deposits that are worth more than $100,000 gets the assistance of a chief market strategist that provides timely trading calls and market insights to clients. The leverage for this account is also reduced to 1:100, but all other trading conditions remain similar to the other two types of trading accounts.
Are Blackwell Global Accounts Costly?
Blackwell Global has one of the most expensive Forex trading accounts in the market, with the minimum deposit requirement of $500 being eligible for a full-fledged ECN account at other competing brokers. The higher categories of accounts are also considered to be highly expensive, as even a small investment of $5000 can qualify for a VIP account at other leading Forex trading companies. As far as spreads are considered, Blackwell Global is certainly on the higher side, with a minimum average of 2 pips being expensive among competing STP brokers. Therefore, Blackwell is certainly not recommended if your top priority is to enjoy a cost-effective trading account that provides world-class Forex products for manageable costs. Traders can choose from a wide range of payment options for both deposits and withdrawals. Online payment options include Skrill, Neteller, and credit/debit card payments, while traditional forms of bank transfer and check are also accepted. All funds are kept in segregated accounts as per the CySEC instruction, which is available for withdrawal without any restrictions whatsoever. If a broker falls into insolvency or other liquidation procedures, the CySEC has created an Investor Compensation Fund (ICF) that offers insurance for a trader’s capital of up to €20,000. The ICF is provided as a layer of protection for traders if their broker is unable to meet their debt obligations, which should help traders to enjoy peace of mind while trading with Blackwell Global.
Are Blackwell Global Trading Platforms Any Better?
Blackwell Trader seems to have made a wise decision by opting for the MT4 trading terminal, which is an excellent trading interface for trading the Forex market. MetaTrade is an incredibly popular trading platform that has one of the largest percentages of retail traders in the entire industry. Blackwell Global provides access to all the different versions of the MT4 terminal, including mobile apps and multi terminals. Apart from the dedicated MT4 desktop trading platform, mobile users can also use the dedicated iOS and Android MT4 apps as their preferred Blackwell Global mobile trading platforms. The broker also offers the MT4 WebTrader for browser-based FX trading, along with the Multi-Terminal that allows money managers and fund managers to manage multiple Forex trading accounts through a single trading platform. The broker has also enabled its clients to access their accounts for taking care of all administrative tasks by accessing the online account dashboard known as the Infinitum. The Infinitum platform offers a 24 hours support channel, accounts overview, funding/withdrawal options, account management, report generation, and other marketing tools for affiliates and partners. The Infinitum is an advanced version of the regular online account management systems that are offered by other mainstream brokers, but the Infinitum seems to do things better than the rest.
A Final Blackwell Global Broker Review & Perspective
Blackwell Global may not be suitable for smaller traders, in particular for those who are looking for the cheapest account option. Even the lack of an ECN account for larger account holders may be considered as a drawback, but the STP option should offer plenty of trading opportunities without any major conflict of interest. Read through some our other recommended broker reviews for finding a better option for your Forex trading needs and other investment ventures.
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