Blooms Markets Limited is a forex broker that claims to offer a variety of trading services, including CFDs, forex, and commodities. However, there is a lot of evidence to suggest that Blooms Markets Limited is a scam broker.
Company Overview
Blooms Markets is a company registered in the Seychelles. However, it does not have any legitimate licenses or regulations. The company’s website is also full of grammatical errors and typos, which is a red flag.
Does Bloom’s Markets Limited Have Any License?
No, Blooms Markets Limited does not have any legitimate licenses or regulations. The company claims to be regulated by the Financial Conduct Authority (FCA) in the UK, but this is not true. The FCA has issued a warning against Blooms Markets Limited, stating that it is not a legitimate broker.
Is Blooms Markets Limited Regulated By Any Authority?
No, Blooms Markets is not regulated by any authority. The company claims to be regulated by the International Financial Services Commission (IFSC) in Belize, but this is also not true. The IFSC has not licensed Blooms Markets Limited.
Blooms Markets Limited Pros and Cons
Pros:
- The company’s spreads are relatively competitive.
- The company offers a demo account for beginners to practice trading.
Cons:
- The company is not regulated by any authority.
- The company’s website is full of grammatical errors and typos.
- There are many complaints about the company online, including claims of fraud and money laundering.
How Does Blooms Markets Limited Reach To Their Prey?
Blooms Markets Limited uses a variety of methods to reach its prey, including:
- Cold calling: Blooms Markets Limited employees will cold call potential victims and offer them free trading lessons or investment advice.
- Social media: Blooms Markets Limited will use social media platforms like Facebook and Instagram to target potential victims.
- Online ads: Blooms Markets Limited will place online ads that appear to be from legitimate financial institutions.
Technical Details of Blooms Markets Limited
Minimum Deposit:
The minimum deposit requirement for Blooms Markets Limited is $250. This is relatively low compared to other forex brokers.
Trading Platform:
Blooms Markets Limited uses the MetaTrader 5 trading platform. This is a popular platform that is used by many forex brokers. It is a powerful platform that offers a variety of features, including:
- Charts and technical analysis tools
- Automated trading
- Market news and analysis
Spread:
The spreads offered by Blooms Markets are competitive. The average spread for the EUR/USD currency pair is 1.0 pips.
Leverages:
Blooms Markets Limited offers high leverages. The maximum leverage that is available is 1:500. This means that you can control a position that is worth 500 times your deposit.
Packages and Products They Offer
Blooms Markets Limited offers a variety of packages and products, including:
- Standard account
- Premium account
- VIP account
The standard account is the most basic account type. It offers the lowest spreads and commissions. The premium account offers more features, such as access to more technical analysis tools and market news. The VIP account offers the most features and benefits, such as a dedicated account manager and access to exclusive trading signals.
These offered products are
Withdrawal and Deposit Method
Blooms Markets Limited offers a variety of withdrawal and deposit methods, including:
- Credit card
- Debit card
- Bank wire transfer
- Bitcoin
The withdrawal and deposit fees are relatively high. There is a $25 withdrawal fee and a $50 deposit fee.
What Do Their Previous Traders Say?
There have been a number of complaints about Blooms Markets Limited from previous traders. These complaints include:
- Difficulty withdrawing funds
- Unrealistic profit claims
- Customer service issues
Summing Up- Why Should Not You Trust Blooms Markets Limited
There are a number of reasons why you should not trust Blooms Markets .
- The broker is not regulated by any major financial regulator. This means that there is no oversight to protect you from fraud.
- There have been reports of customer complaints. These complaints allege that the broker has difficulty withdrawing funds, makes unrealistic profit claims, and has poor customer service.
- The broker has a history of being accused of being a scam. There have been a number of lawsuits filed against Blooms Markets Limited alleging fraud.
If you are considering trading with Blooms Markets Limited, we strongly advise against it. There are many legitimate forex brokers that are regulated and have a good reputation. There is no reason to take the risk of trading with a broker that has a history of being accused of being a scam.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have been scammed by Blooms Markets, you may be able to get your money back. There are a number of organizations that can help you, including:
- The Financial Conduct Authority (FCA) in the UK
- The Australian Securities and Investments Commission (ASIC)
- The Securities and Exchange Commission (SEC) in the US
You can also contact us to get a free consultation and service recommendations to help you in recovering the lost fund. We can also provide you with some educational resources.
File A Complaint Against Scam Broker's
Final Thoughts
If you are looking for a forex broker to trade with, it is important to do your research and choose a legitimate broker. There are a number of red flags that can indicate that a broker is a scam. If you see any of these red flags, it is best to avoid the broker.
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