BlackStone500 review – 5 things you should know about blackstone500.com

BlackStone500 review – 5 things you should know about blackstone500.com

Beware! BlackStone500 is an offshore broker! Your investment may be at risk.

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You probably asked yourself, what could go wrong when trading with a broker that hold a name as daring as BlackStone500, a broker label that suggests it will live on forever. With a website that is literally too heavy for its own good, as confirmed by the obvious lag present throughout, BlackStone500 tries way too hard to invest passerby into its operations. Indeed, this firm flies high, but it’s in the detail of the execution that BlackStone500 fails to deliver. With all that text and accompanying images, only a small portion of it is in fact useful. The rest is just filler. Read the review to find out more.

It’s never a good sign when we can register in less that twenty seconds. It shows that the broker will take in just anyone, conveying a sense of desperation whilst also foreshadowing its true intentions. Once at the client dashboard, our suspicions started growing, for what we saw was a laughably simplistic dashboard, one that does not in any way compare to the display of grandeur on the website.

With that said, we did continue with accessing the trading platform which revealed a EUR/USD cost of trade of 0.6 pips, which left us quite dumbfounded, for this spread is superb. We were not able to choose our leverage cap; it was already predetermined to 1:200. We could not find a way to change the leverage value. The terminal also revealed that users can trade with the following instruments – Forex Pairs, Cryptocurrencies, Commodities, Indices, and Stocks – making this list very decent.

The client portal’s menus can be translate into Italian, English, German, Spanish, Russian, whilst, confusingly, the website is only available in English. This might be an insignificant detail, but it furthers the proof that there is something fishy going on here.

BLACKSTONE500 REGULATION AND SAFETY OF FUNDS

Here we are at the crucial part of the review, where all hands are dealt. With BlackStone500, these hands were nervously shaking before throwing in the cards.

Let’s begin form the footer. Giving us two distinct countries side by side is never a good sign. Smart Trade and Investments LTD is the supposed holding company which is either located in the UK or Canada, if we are to follow the footer’s lead. The contact us page points at an UK address, while the Terms and Conditions would have us believe that users have to be informed on local Estonian laws, suggestion a registration in the Baltic nation.

Let’s start with Canada. The great nation of Canada has one main financial market overseer, the Investment Industry Regulatory Organization of Canada (IIROC), which sets very high standards for brokers to follow, a reason for the country’s low popularity in the forex industry. We checked the online register of IIROC’s licensees, and found no result of both broker and parent company names.

Next is the FCA, which needs no introduction. This British regulator is somewhere in the top watchdogs for many reasons. Needless to say, we did not find the names of the broker/holding company in the official FCA register.

Finally, the most peculiar of the bunch, Estonia. This small European country is not the most popular forex destination, which has, consequently, made it a preferred destination for scammer brokers. The official, Estonian Financial Supervision Authority or Finantsinspektsioonacts, is the local financial regulator. Unsurprisingly, the database of regulated entities holds no results of BlackStone500.

What’s more is that BlackStone500 has not once said that it is actually regulated anywhere. It just throws unconnected information to trick its clientele.

We can only conclude that this broker is UNLICENSED, and thus a risk to all those that deposit in it.

Traders should be trading with risk-free brokers, that hold licensed from renowned and austere agencies, like the FCA or CySec , which have made a name for themselves as some of the top regulators. Readers should be aware that both agencies have adapted very strict rules of conduct, and their licensing framework guarantees safety and security for all clientele. A good example of this is the segregation of accounts which assures that client money and broker money are kept in separate accounts. Furthermore, FCA/CySEC brokers participate in a financial reimbursement scheme that cover traders losses in case the broker becomes insolvent. The FCA provides up to 85 000 pounds per person, while CySEC guarantees up to 20 000 euros.

BLACKSTONE500 TRADING SOFTWARE

Once registered, we were granted full access to the Activ8 terminal.

Each assets at this platform has its own little box, which is then maximised to a separate window where the chart for the buy/sell price is clearly visible. This, copy trading strategies, and pending orders are the only additional elements to compliment the buying and selling of assets.

It’s obvious that this trading software is no match for the MT4, which is or choice of a platform, and so should yours. The MT4 is so incredibly detailed, that its learning curve can span multiple years, where as the Activ8 platform can be quite boring to deal with.

BLACKSTONE500 DEPOSIT/WITHDRAW METHODS AND FEES

The user dashboard reveals that there is only one way to fund an account, which is through XchangePro, a bitcoin purchasing gateway. It does not even look like we will receive a deposit in our trader’s account. What we think happens is that users are tricked into thinking that they are depositing, but instead, they will be buying bitcoin. This results in a mystery minimum deposit amount, if any.

Withdrawals are charged with fees, yet we do not see the connection between buying bitcoin from a third party source and withdrawing from an illicit broker. Nevertheless, her is what the legal documents revealed -Wire Transfer are charged with $50, Credit Cards have a $35 fee, e-payments are levied $25, and there is a 10% charge if the user has not executed a turn over of his/her deposit at least 200 times prior to withdrawing.The processing time is 5 days for withdrawal requests.

There is a 10% charge on any account that has been stamped as inactive. For an account to be dormant, it must have not been traded with for at least 6 months.

Bonuses plus deposits must be traded with at least 25 times in order fro the bonus to become withdrawable:

All this information is completely useless once you reach the Non-Deposited Funds clause. Essentially, this tells you that all profit is treated as Non-Deposited Funds, which are in fact not eligible for withdrawal.

This is the last nail to the coffin: BlackStone500 is clearly a scam!

Here is one of many instances when the broker absolves itself and its third party affiliates of all liabilities:

Furthermore, all claims against BlackStone500 will become obsolete after 12 moths, a clause that ties together with all of the indemnification provisions:

 

We strongly advise traders to only deposit the minimum deposit, or better yet – not deposit at all! As for the withdrawals, scammers are known to either deny such requests, or impose incoming and unexpected charges.

How does the scam work?

Users will be in the middle of a scam without even knowing it, that’s how efficient these scams are. Yet, clients will also be surprised that the most utilized scammer structure is laughably easy to grasp, making it predictable. We have dedicated the following section to the reveal of how the scam works.

The internet is filled with ads, it’s the fuel of the industry, and a big chunk of said advertisements are misleading and some are downright deceitful. The ads concerned with unregulated forex brokers are often very promising, and most of the times utilize completely false claims of immediate profit. Those tempted enough will be redirected to a robo-scam website that further guarantees profits. The only thing that separates the user from the unrealistic promises is a fast registration process that requires a phone number and an email address. After inputting this info unsuspecting users will start getting phone calls from illicit broker representatives, whose one and only job is to initialize the scheme by pushing a trader to make that first deposit of around $250. After that’s done, the senior representatives will be calling. These expert scammers are extremely good talkers, and will start working on you to start putting even more money in. They say that the more money invested, the higher the profit will be. At this point most traders start seeing the big picture, and will want to withdrawal their money and get out fast.

However, the scammers have anticipated this development, and are ready to counter any withdrawal request. Typically they find excuses for delaying the request in the legal documents that hold specific clauses for these purposes. The reasons are many. One thing to remember is that all illicit brokerage firms will deny the withdrawal request for as long as they can, because of the imposed time limit traders have for filling a chargeback. Once the crucial due date is not met, any chargeback requests will be denied.

What to do if scammed?

Those of you who deposited using VISA and MasterCard will be glad to know that both companies have extended their chargeback time span to 540 days, especially if the reason for it is an online scam.

Scammers will steal directly from a bank account, if the traders has provided crucial details, like banking password or security code. If it get down to this, be sure to either block the account or change the password.

Sometime victimized users will stumble upon the so called recovery agents that promises to magically reclaim all lost investments, for a fee that is. Needless to say, they will not get back any of the lost funds, and will basically scam you a second time.

Rich Snippet Data
Review Date
Reviewed Broker
BlackStone500
Broker Rating
11stargraygraygraygray

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25 Comments

  1. Blackstone500 – scam – don’t make any investment this gang. Everything is fake. Stay away from them. They are fraud.

    1. SEDAT UYSALEFE

      Dear All,
      I got my money back from Blackstone500. Thanks . I want to delete this review now.

      1. Jahanzeb Ramzan Qureshi

        SO dear i didn’t.

        And why your user name is different

  2. Siddique Rahman

    How do you delete BlackStone 500 account?

  3. I have blackstone 500 account and have been trying g to get my withdrawal but seems its not possible because pesonally I felt cheated from these scammeres…no one is bothered for the Withdrawal request

  4. I am writing 4th times to delete my scam review .
    No one responding to me from the forex reiew.com .
    Blackstone500 paid my all money back, THANKS Adam Prestone . He did great job.

  5. Jahanzeb Ramzan Qureshi

    provide us with the contact

  6. Jahanzeb Ramzan Qureshi

    Dear they are total scam.

    Once you start registering online they start calling you like hell and in 10 min you are the one depositing minimum balance.and they ar eworking in England but deducting amounts in Russian Currency equals to Euro.
    and once you realized its a scam its already done.
    they don’t bother to reply on withdrawal request, even you Start calling them.
    Below are the numbers of team there:
    +442035198561
    +442035198559
    +442035198561
    +442035197465
    +442038854199

  7. Pauliasi Mateboto

    I just started with Blackstone 500 last week with a deposit of 800 URO and the way my broker is doing trading I just don’t know if this is real,they promise me that you gonna make more money and pay off your mortgage and all your credit,for the first week I made about $600 AU,and reading some of the reviews from clients I start to wonder wether to put more money or not,because he keeps on telling me to add more funds,Also my other question is Are they Real Company or Scam??

  8. Folks do not under any circumstance hand anything to this company they are a total scam not regulated by anyone. trust me I have lost thousands of pounds. Speak to your bank immediately and document and conversations. Request an immediate chargeback and prepare a letter sending to the bank’s chargeback unit with all evidence. Take screenshots of all conversions. There is a scammer called George Borini and his supervisor called Timothy at blackstone500. It’s all a scam. please please be extremely careful of them putting pressure to invest more money and they will eventually lose all your deposit and they will tell you they can reverse the trade if you payment some huge amount of money. its a total scam once again.

    this is the contact number they call me with +442035197210

  9. thieves!

  10. Friday 31st July, I emailed my trader Dean Witter and advised I wanted to close my account as I no longer wanted to trade with them. I also submitted a withdrawal request to withdraw all my funds. Over the weekend he opens contracts on my account without my knowledge or authorisation. He then said I cannot close my account with these contracts open. As soon as he opens the trades it wipes out all the funds in my account. I am a small investor, do not trust them with your money.

  11. inam(blacktone scammeres)

    These are fucking scammers..dont awake any risk better you help someone instead throw your money to these fuckers…..bug time layers and scammers!!!0

  12. BLACKSTONE500 IS FUCKING SCAMMERES……….

  13. 101% scammers, stay away!!!!!!!

  14. Absolute scammers. Dean Witter is an ignorant bully. His reply to my challenging him? “I am a US citizen!” Constantly shouted me down. I lost £250. When I tried to speak he said “you will not control this conversation”. I did. I cut him off. I’ll just accept I was stupid and move on. AVOID

    1. Do not worry I did exactly the same,You are not the one, best regards.

  15. Hi, I lost 250 pounds from this thieves blackstone500 never ever register to these scamers,I was so stupid to do it You do not want to do the same please!!!

  16. Don’t invest in Blackstone500.com. You never get money back. Initially agreed with some amount and after they will call and ask for more funds. They will convenience like you will invest money. With the funds they will trade and you can see profits in your account and again they will call and ask for more funds. If you say no and then they will start place loosing trade. Then you will feel that instead loosing money invest more funds. And again they will ask more money. If you say no again same game plan place loosing trades and I am sure you will be feel annoying and will ask for withdraw request. Then you can see there mentality. They will place loosing trades without knowing you all money gone. The game will start from withdrawal. One thing sure you can’t get back invested money even you can see profit in account. So I would recommend not invest single penny in this platform. They are big scammers.

  17. Don’t invest in Blackstone500.com. You never get money back. Initially agreed with some amount and after they will call and ask for more funds. They will convenience like you will invest money. With the funds they will trade and you can see profits in your account and again they will call and ask for more funds. If you say no and then they will start place loosing trade. Then you will feel that instead loosing money invest more funds. And again they will ask more money. If you say no again same game plan place loosing trades and I am sure you will be feel annoying and will ask for withdraw request. Then you can see there mentality. They will place loosing trades without knowing you all money gone. The game will start from withdrawal. One thing sure you can’t get back invested money even you can see profit in account. So I would recommend not invest single penny in this platform. They are big scammers.

  18. They scammed me out of over 1000 pounds now what do I do the bank told me I cant claim back because I gave the deposit etc but it looked so real and the guy talked me into depositing everything I had now I dont know where to turn I cant get I to my account now so I really dont know how I get it back so upset about this it’s taken me on a downward spiral since it happened

  19. I deposited into my trading account, it’s 3 weeks now, it hasn’t reflect yet. Stay away from them !

  20. I just got off the phone from their broker, Leo Novak. I opened an account with them yesterday and found out that they were not licensed. I spoke to their (legal) finance department Michael Porter and they really complicate things. They won’t allow you withdraw YOUR money.That’s $250 hard-earned money. They even call me names and say I am a Nigerian scammer and that they don’t want to deal with my “shit”!In the first place, that was MY money.How can I be a scammer? Mr. Novak even threatened me to seek legal assistance to hunt me even mentioned FBI. It’s so sad that I fell into a trap. It’s not fun to feel that you tried to grab the chance to earn extra buck from your savings but ended up being scammed by this trading company. $250 will go a long way here in the Philippines. Sadly, it’s gone. Don’t be fooled!

    IT’S A SCAM!!

  21. I also deposited £1,000 which grow at a nice rate thank you. But, I was not convinced the trading platform was real. Then they requested I transfer £10,000 more so that real train could start with greater percentage returns. This is when I smelt a rat and requested my account be closed and initial fund returned. Which was now £1250.
    However, it seamed impossible to have the funds returned without first opening a bitcoin wallet. for this they needed a credit charge of £2,500 (which they said would immediately be returned. (yes right)
    Clearly I was not falling for this.
    So we have a stalemate, they have my money and they are unwilling to return.

  22. Blackstone500 is a scam company which is not registered in the Uk as they claimed. In the course of my recovery with them, i realized that they operate sometimes from Russia and their ISP is also traceable to Switzerland. Max Tillman who was assigned to manage my account made me lose all my money. When i wanted to take out the money that i invested, he asked me to pay 30% of my invested capital. please note that this was never stated from the beginning. After back and forth i had to pay the 30% because i invested a-lot of money and i couldn’t afford to lose that. After this, he became dodgy. He. doesn’t pick calls or reply to my emails and my account was still running in their mining. Because they represent that they operate from the UK, i reported to the FCA and it turned out to be that they were scam. Upon this, Bermuda Finance Security was in reference in one of the publications in Times and i applied to them for onward recovery. Although i was able to recover my money through them but they realized that my credit card was billed recurrent. Max Tillman was able to do this when he asked me to instal Anydesk and i obliged since i told him that i do not know how to trade.
    Ensure that you report them to your local police as well because even after getting back my money, i did same.

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