BloomFxTrade claims anything is possible, even the fact that they are a shoddy forex investment platform. For Bloom FX Trade, the fact is that they are taking investors for a ride. There’s no investment taking place. We have to expose the rot taking place at bloomfxtrade.com. With complaints coming in from all corners of the world, something’s amiss with the platform. And that’s why we investigated the platform. Find out why members are crying foul in our clear BLOOMFXTRADE Review.
There are two services on offer, investment, and trading. And this makes BloomFXTrade a standout platform. It’s the reason why they have managed to sign up hundreds of users within a short time.
Their main selling point is they offer huge welcome bonuses to investors. Most investors will sign up expecting to get a huge chunk of the bonus. And that’s the trap laid for naïve investors. Regulators in the industry are against these bonuses; we will explain why.
Judging from the platform’s aesthetics, we can see why investors fall for it. At first glance, everything looks okay. When you dig deeper or become a member, you realize everything isn’t as it appears.
Sure, the platform uses moving call-to-action narratives with compelling imagery. You even get to see the live prices at the bottom of the page. Now this will make anyone believe that Bloomfxtrade.com is a real investing and trading platform.
Far from it, our Bloom FX Trade Review will expose the stench emanating from the website.
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On their trading front, the platform offers four accounts. The four plans include Mini, Standard, Executive, and VIP. Let’s take a brief look at each account type.
With the mini account, members must deposit $350 to start trading. Already, we see the depository amount is higher than the industry-accepted amount, $250. It comes with a 10 percent bonus, and withdrawal is after 10 days.
The minimum deposit with the standard account is $1,000. You get a 50 percent bonus with your first deposit amount. Some of the features that come with this platform include daily market reviews and an exclusive eBook.
There’s a 75 percent bonus amount available on the platform. To start trading with this account, you must deposit $2,500. Withdrawal is after 5 business days, and you get a personal account manager.
The VIP account comes with a custom-made bonus, and the minimum allowed deposit is $5,000. You get an account manager with 5 daily trading signals. There’s a 10 percent payout feature with weekly trading sessions.
All these accounts would offer an insightful way to trade if only the platform were legit. We have to say that the account features are appealing to the eye. The only problem we have is the lack of clear structure. You don’t get to learn about the available leverage and spread.
There are four assets available on Bloom FX Trade. These include Commodities, Currencies, Indices, and Stocks. Some of the commodities include Cocoa, Gold, Oil, Platinum, Silver, and Sugar.
There are 11 currency pairs, and the platform only offers major currency pairs. These include EUR/JPY, EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/RUB, USD/SGD, USD/SGD, USD/TRY, and USD/ZAR.
The indices found are some of the leading exchanges around the world. You will find the NASDAQ, NIKKEI, ISE, RTS, KL FUTURE, HANG SENG, DOW, DAX, CAC, and more.
There are stocks from the FAANG group, CITI, Coca-Cola, GAZPROM, NIKE, REUTERS, ROLLS ROYCE, TESCO, and more.
BloomFxTrade is not a licensed entity, and we don’t even know their headquarters. We did a check with regulators in America, Australia, and Europe. None of the regulators in these regions have registered the platform.
With their compliance in question, you would be a fool signing up and depositing with them. The best and safest way to invest is by joining reliable investment platforms. These platforms have gone through oversight from ASIC, CySEC, FCA, FINMA, or SEC.
Bloom FX Trade does not pass the regulatory test for various reasons. The people working behind it are probably based offshore. There’s no professional investor or trader who can verify their level of professionalism.
The platform will also fail the regulatory process due to a lack of funds. To get a license, the platform ought to deposit a minimum insurance amount to regulators. The amount is used to protect investors from bankruptcy and insolvency.
Now, this is where things start getting interesting. The platform doesn’t offer any direct contact with support. On their contact page, you leave your email, name, and phone number. You have to wait for them to respond.
We don’t know about you, but we would rather invest in a platform where support is available. The least they could have done is offer live support or their phone number. We are left wondering why they don’t share their contact details.
The contact page shows how desperate they are to stay anonymous. You should avoid any investment and trading platform that shares similar features. It’s your right to get a hold of support.
There are several deposit methods listed at the footer of their homepage. These include bank transfers, Neteller, Skrill, and more. The reason why you find every type of depository option is because they want anyone to invest.
Once you show interest, they will insist you don’t need prior trading knowledge. After all, the platform does provide account managers. To make the platform appear transparent, they even come up with a deposit and withdrawal table.
The only issue with it is they fail to make any changes. Once you visit the website a week from now, the table’s content will be the same. Furthermore, we haven’t heard or seen any member withdrawing funds exceeding $500.
For the investment aspect of this platform, there are four plans to choose from. The plans include Basic, Standard, Premium, and Deluxe. Here’s a closer look at the four plans individually.
There’s a 10 percent bonus with the basic plan, and the required deposit is quoted at $500. Users get a guarantee of withdrawing the same day they send a request. Other features include 24/5 customer support and daily market review.
You deposit $1,000 to get started with the standard account, which attracts a 50 percent bonus. The account has the same features like the basic plan apart from the bonus.
With the premium account, you get a 75 percent bonus.
You must deposit $10,000 with this plan and get a custom-made bonus.
With all the four plans, one thing stands out, and there’s no guarantee of winning. Unlike other investment service providers, Bloom FX Trade refrains from quoting their expected ROI.
The platform does not have a license, which makes the safety of funds a concern. Without a license, there’s no safety net provided by the insurance coverage. Once you deposit funds, your investment is at the hands of unknown persons.
You should invest with platforms that segregate accounts and offer insurance cover for deposits.
Due to the lack of proper regulation and withdrawal issues, we have to blacklist bloomfxtrade.com.
We do recommend using proven ways, which include Coin staking, DeFi, and Masternoding. Take a look at these investment options that offer transparency and safety.
If you have any queries, you can leave a comment or email us.
Once you attempt to withdraw large sums, the platform blocks your account
Since withdrawing is an issue, making returns is a hard bargain
The platform does not offer insurance cover to investors.
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