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Thursday, 11 August 10:41 (GMT -05:00)

Stock and commodities markets

Blake Finance Ltd - scam or decent forex broker?

Blake Finance Ltd helps over 200,000 traders around the world make money. It appears to be a western broker offering over 200 assets including currency pairs and CFDs on commodities, indices, and stocks, with up to 1:500 leverage, ultra-low spreads, five account types, and the ability to choose between MetaTrader4 and 5.

At first glance, this may seem like a legitimate and attractive trading opportunity, but unfortunately, it is not. As a matter of fact, Blake Finance Ltd is not licensed and authorized, as it should be, to provide financial services in regulated markets such as the EU, UK, or Australia, and to make matters worse, the website is virtually anonymous, which obviously means what we are talking about is fraud.

Is Blake Finance Ltd legal?


Obviously not. Blake Finance Ltd is not a legitimate broker but an anonymous scam website without a license and without any trust. Instead, check out our list on the Masterforex-V website of legitimate EU-regulated brokers.
You may have noticed that the Blake Finance Ltd website is completely anonymous - aside from an obscure phone number, no additional information is given about the broker's whereabouts - no company name, no physical address, no corporate information at all. Not to mention the license or regulation. All this, despite the seemingly neat appearance of the site, clearly indicates that we are dealing with scammers.

Can I make money with Blake Finance Ltd?


No, you definitely won't be making money from an unregulated and virtually anonymous site like Blake Finance Ltd because you will most certainly be scammed. So better check out our list of brokers.
Blake Finance Ltd says in their Terms and Conditions that they reserve the right to refuse to process any withdrawal request if they decide in their sole discretion that you owe them money.
Colleagues from the Masterforex-V website report that representatives of the broker “Call traders (including those in America), promise profitability of 20-30% per month, promote them for a deposit, draw deals with big profits on their platform, and do not withdraw profits and deposits.
You start complaining, they just block you on Telegram, WhatsApp, and they don’t answer your mail.”
For example, they might just say that before you make any withdrawal attempts, you must first pay some taxes. So basically you will be asked to deposit even more money. This is a typical scam.
Keep in mind that withdrawing funds from unregulated brokers like Blake Finance Ltd is generally next to impossible.
And if that's not enough, Blake Finance Ltd charges a variety of fees for handling and processing withdrawals, including profit-making fees, account maintenance fees, and non-use fees up to $500, which will be charged after just two months, during which you have not posted a deal. Keep in mind that with legitimate and regulated brokers, you will never be asked to pay any fees like these.



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