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Blix Group (Blix-group.com) is another blacklisted broker who is using false credentials. BlixGroup is claiming to offer CFDs, Cryptocurrency, Forex, Indices, and Stock assets. They claim to be based in Estonia and yet, have UK phone address. Members of the platform are up in arms with the broker’s attempt to block withdrawals. Since inception, none of the members have withdrawn funds. And this is the sad fate facing all members. Read this genuine and honest BLIX GROUP Review for more.
The about us page claims Blix Group was created for traders to trade CFDs on a user-friendly platform. They claim to have a five star personnel and support assistance which is far from the truth. These are empty claims which are meant to drive unsuspecting investors to sign up. To protect the online trading world, such brokers must be exposed. They tarnish the good online trading name. To trade safely, it is best to sign up with INNOVATIVE brokers who are seasonal experts.
None of the members knows how long the platform has been in existence. Scam brokers will come up with an enticing website to try and sign up newbie traders. In most cases, they use cloned trading websites which look like real trading websites. Once investors sign up, they immediately start noticing withdrawal issues. The broker is rarely available and emails are not responded on time. And Blix Group is a classic example of a broker gone rogue.
Assets listed include Commodities, Currencies, Cryptos, Indices, and Stocks. Commodities available include agricultural products such as cocoa and sugar. Energy assets available on blix group include crude oil, gasoline, heating oil, and natural gas. There are livestock commodities available on the platform. They include cattle feeder and live cattle. Traders also get the chance to trade with precious metals such as Copper, Gold, Platinum, and Silver. The broker fails to mention the currencies available on the platform.
Cryptocurrencies listed on the platform include Bitcoin and Etherium. When it comes to indices, the broker is unclear on the number of indices available on their platform. Stock or equities available on the platform include NASDAQ and NYSE. They have divided the asset classes by market capitalization. These include small cap, middle cap, and large cap stocks. On the about us page, the broker is unclear on the type of leverage and spreads available. Members are signing up without knowing whether the trading conditions are favorable.
Disclaimer at the footer of the homepage claims Blix Group is owned by AlepLink Solutions Ltd. The company has their address in Estonia which we believe is a false statement. These scam brokers will quote European addresses to try and sell their location. A closer look at the company register in Estonia reveals no such entity exists. The registration number posted is a hoax and is used to throw off prying eyes. And this is proof we are dealing with a rogue online trading platform. It is best to stay away from an anonymous broker.
According to the trusted domain register whois.net, the website was recently created. Records indicate Blix Group is a website which was created on 18th February 2020. It is an indication of things to come if authorities do not act and shut down the website. More and more unsuspecting traders will fall for the trap is action is not taken. Be safe and steer clear of this ridiculous trading platform.
The broker claims to be located in Estonia and yet, Estonian authorities have no records of the broker. The Financial Conduct Authority has issued a warning to traders regarding this broker. A warning from such an established regulator is proof something’s wrong with the platform. And this leaves investors with a choice to make, sign up and risk losing everything.
Blix Group is NOT LICESNED by any regulatory institution in the world. The broker is operating without a valid license contrary to set industry rules. Recovering funds from such a broker is next to impossible. These brokers have been soliciting funds from unsuspecting online investors. Without a valid trading license, anyone who signs up will lose their funds. Regulators will not be able to recover funds nor will recovery agents. An anonymous broker is hard to track down.
The broker has a number of account types to choose from. BlixGroup is furnishing traders with six account plans. They include Basic, Silver, Gold, Platinum, Diamond, and Millionaire Club. Most of the accounts come with the same features which do not offer any trading advantage. What we noticed off with the account features is having a money management feature. Does this mean the broker is now acting as an online bank? Do they follow set banking regulations and rules?
Blix Group is furnishing traders with account managers who are far from being professional. Scam brokers will hire call agents to act as professional account managers. These agents constantly call members asking them to deposit more funds and increase the odds of winning. Stay away from such a broker as this is a ridiculous way to lose money.
The broker has an email address and two phone numbers from different locations. Phone numbers have codes from the UK and Switzerland. What is odd is the broker does not have a phone number from the region they claim registration. Without an Estonian phone number, the broker is clearly not from Estonia. Emails will not get any quick responses especially if they are in regards to withdrawal. A broker who is not available on demand is not worth your money and time.
Blix Group is using easy to access depository channels which are an advantage to the broker. It ensures any trader from any part of the world can deposit funds with the platform. Deposit process takes less than five minutes which is not a reason to sign up. With members complaining of withdrawals, no one is safe. The broker is not clear on how long withdrawal process takes which is a huge problem. Brokers should make sure they inform members on deposit and withdrawal terms.
Vital information is missing regarding the type of trading platform available on the website. About us page claims they have a platform that is compatible with all devices. The problem with custom built web platforms is lack of proper security features. Lack of security software on the platform leaves members open to third party attacks. Hackers will easily steal credit card information from this trading platform.
According to the findings, BlixGroup is pooling funds in one account. Members are depositing funds straight to owner’s bank account. And this is contrary to set industry regulations which demand segregation of funds. Without DDoS protection and SSL encryption, it makes members open to hacking. Once you deposit funds with this broker, it is the last you see of it. Compensation is out of the question as the broker does not participate in a compensatory scheme.
After reviewing all the facts, we are sure Blix Group is a scam. Most of the trading features are missing from the website making it a risky platform. Warn your family and loved ones from signing up with the broker. Mark any of their promotional emails sent as spam. These are offshore brokers who will stop at nothing to get your banking information. Stay away from the platform or else risk losing more than your initial deposit.
By adding the broker to our scam blacklist, we will be exposing their ways. Remember to use affordable brokers who are backed by Crypto experts.
Stay safe and keep reading our reviews for more on online trading products and services.
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