As the coronavirus epidemic swept across the globe, economy in many countries have experienced tremendous shocks, and the Philippines even temporarily halted trading in stocks, bonds and foreign exchange. While the volatility caused by the coronavirus epidemic has increased trading volume in the forex market, investors should not ignore risks in trading.
Recently, upon the requests of investors, WikiFX team visited forex broker Blackwell Global in Cyprus, and compiled the following survey report.
Broker profile:
Broker’s name：Blackwell Global
Visited by: WikiFX
Business scope: currency pairs, precious metals , CFD etc.
Address: 10-12 Emmanuel Rhoides Str, Ayia Zoni District, CY-3031 Limassol, Cyprus.
On-spot investigation: Blackwell Global’s office is located in a grand-looking office building, and visitors need to make an appointment to enter. The broker’s office in Cyprus truly exists, and the company logo can be found on the exterior of the building and at the office door. The company appeared to be well-established, and its office had around 30 cubicles.
Further information about the broker:
However, as early as in 2018, CySEC issued an announcement that it would revoke the broker Blackwell Global’s retail forex brokerage license (regulatory number 159/11),without offering specific reasons for the decision. Per investigation, we found on CySEC’s official website that the broker had “voluntarily relinquished its original CySEC license”. And given that the broker had become a licensee regulated by UK’s Financial Conduct Authority (FCA) in 2016, its decision to voluntarily give up the CySEC license seems reasonable. Blackwell Global currently focuses on Southeast Asian markets such as China and Thailand.
Conclusion
Through this visit, we confirm that Blackwell Global’s office address in Cyprus is in accordance with the regulatory information. The broker is rated at 8.37 on WikiFX App. In addition, both the FCA MM license and the Hong Kong SFC futures brokerage license held by the broker are under valid regulation.
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