Blaze Markets-Overview of Minimum Deposit, Leverage, Spreads

General Information

Established in 2020, Blaze Markets is an online forex broker registered in Saint Vincent and the Grenadines, offering its clients access to over 150 trading instruments, such as forex, CFDs, Metals and more through the leading MT4 trading platform. Two trading accounts are available on this platform and traders can use maximum leverage up to 1:200.

Blaze Markets is the trading name of Blaze Markets Ltd, registered by the Financial Services Authorities (FSA) of St. Vincent and the Grenadines as an International Business Company with the registration number 26027BC2020.

Is Blaze Markets safe to trade with？

When it comes to regulation, Blaze Markets disappoints us due to the lack of authorization and licenses to operate forex and CFD trading services.

The regulatory status of Blaze Markets on the WikiFX website is marked as “No License” and it only receives a quite low score of 1.32/10.

Bear in mind that trading with an unregulated and offshore forex broker contains a high level of risk. Before you deciding on any broker, you are strongly recommended to check out a forex brokers regulatory licenses on WikiFX.

Market Instruments

Blaze Markets claims to offer its clients over 150 trading instruments. Different types pf trading assets, such as Forex, Cryptocurrencies, Metals and CFD products are all available through this brokerage platform.

Account Types

The Standard and Pro accounts are designed for retail traders and professional traders respectively. To open a Standard account, a minimum deposit of an acceptable $100 is required and the Pro account asks for an initial deposit of $250.

Swaps are charged for both accounts.

Margin Call: 100%, Stop Out: 30%

Leverage

With the Blaze Markets platform, the maximum trading leverage that traders can use is up to 1:200, which is much above the levels considered appropriate by the vast majority of regulators.

Many offshore forex broker love to offer high leverage to attract investors jumping into their traps, as leverage can magnify gains, and more importantly, it can cause serious fund losses.

Spreads & Commissions

Trading accounts ultimately determine spreads and commissions. Spreads offered by the Standard account start from 1 pips, with zero commission on FX pairs, Metals and CFD trading, 0.2% on Cryptocurrencies trading. The Pro account offers raw spreads, yet with commission charged: $4 on FX pairs, $8 on Metals and CFD trading, 0.2 % on Cryptocurrency trading.

Trading Platform

Blaze Markets offers its clients access to the leading MT4 trading platform, which can be accessed on any device, Windows, Desktop, Android and IOS. The MT4 trading platform is among the most popular trading platforms around the world, featuring robust charting package, multiple technical indicators, and more importantly, it supports EA, allowing traders to automate trading themselves.

Trading Tools

Aside from the MT4 trading platform, some trading tools also available on this platform, which include Forex Market Hour, Economic Calendar, Calculators, Market Overview & Data, Heat Map Analysis.

Deposit & Withdrawal

The minimum deposit amount varies depending on payment options:

• Bitcoin: Minimum deposit of $10

• Bank Transfer: Minimum Deposit of $100

• Credit Card: Minimum Deposit of $100

Customer Support

Traders with any inquiries or trading-related issues can get in touch with Blaze Markets through the following channels:

Telephone: UK: +44 2037699241

Email: support@blazemarkets.com

Registered Company Address: Suite 305, Griffith Corporate Centre,Beachmont, P.O.Box 1510, Kingstown, Saint Vincent and the Grenadines

Or you can keep up with this brokerage through some social media platforms, such as Linkedin, Instagram, Facebook, and Twitter.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved, and it is not suitable for all investors.

The information presented in this article is intended solely for reference purposes.