Beware! Blbdack.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
We are not sure what Blbdack.com exactly is. It talks about trading, but at the same time it not once behaves like a broker. It’s unlike anything we have ever seen, and not in a good way. The website is ridiculously short and shallow with close no details as to what Blbdack.com actually does. Not to mention that its name does not convey any industry-related meaning, and of course there was the issue of the complete nonsense written throughout the site, blabber that we really had no way of verifying.
The main reason for this was that we could not open an account. But not because we were not allowed to, but not due to the complete lack of a registration page or signup form. And taking the trading details from this website is the worst thing you can do because we have all the reasons to believe that nothing on the website is true.
Forex currency pairs, oil, metal, and indexes are mentioned once as being available but nothing makes it set in stone. There were no spreads, nor any leverage values. Actually, there is trading no software for that matter. Blbdack.com is not even a broker in any sense of the word. It offers no trading grounds.
We are starting to doubt the point of Blbdack.com. It may be an intermediary website, a sort of gateway to a different broker or financial scam. Whatever Blbdack.com is, it’s not a broker.
BLBDACK.COM REGULATION AND SAFETY OF FUNDS
The claim that Blbdack.com was founded in Hong Kong is as detached from the truth as you can get. Hong Kong is one of the top FX jurisdictions in the world where global market players have a solid presence. The local Hong Kong Securities and Futures Commission (SFC) is the regulator in place and it would ridiculous to even consider the SFC regulating this entity.
There is no further info concerning a license or even a fake registration. And we did not expect to find anything. Honestly, we are still shaken by the state of the broker, or whatever you can call Blbdack.com.
We would like to first label it as an unregulated and illicit entity. And then we can move on to calling it a collection of lies and irrelevant information that seems to serve absolutely no purpose at all!
Unless you wish to throw your money away for no reason , there is absolutely no incentive for investing in unlicensed brokers. In fact, you would be doing them a big favor by funding their further fraudulent projects. If you wish to trade real FX and CFD with regulated brokers, looks no further that those that are regulated, especially in well known locations such as Europe, the UK, the US, or Australia. The regulators there are pedantic to a ridiculous degree and will do everything in their power to uphold the rights of the user and the integrity of the market industry. It is within their power to penalize brokers and demand client compensation, as well as to set industry standards and introduce new rules and regulation.
BLBDACK.COM TRADING SOFTWARE
The one thing that we thought this so-called broker had nailed was an MT5, but unfortunately the MT5 on Blbdack.com was under some completely different name. What we mean is that the install file was not named “Blbdack” but some other irrelevant name that had nothing to do with the firm we are currently reviewing. This means that the trading conditions on this MT5 would not belong to Blbdack.com. Hence, the reason for concluding that there are no trading conditions.
BLBDACK.COM DEPOSIT/WITHDRAW METHODS AND FEES
We were not surprised to find out that there were absolutely no payment details whatsoever. The company is obviously not what it claims to be, so who’s to say that it needs payments details.
If we were to take it as a broker, we would at least expect a minimum deposit and some mention of payment methods, etc. But no; once again Blbdack.com proves to be something completely differnt, something that we don’t really know how to define.
There is absolutely nothing to this broker, or whatever Blbdack.com actually can be called. The entity is completely illegal and a huge risk to all investments! Do not deposit here, nor should you be wasting a single breath on this!
HOW DOES THE SCAM WORK
Getting scammed usually happens without you knowing it. It’s a deceivingly simple process that owes its success precisely because it seems so avoidable.
First, there is the matter of getting in contact with the broker which happens in one of two ways. Either it contacts you, or you it. If it calls, it means that somewhere in your net journey you accidently left a phone number or an email address. Or you were persuaded by the broker to contact it, which is why many scammer brokerage sites looks so appealing.
The hardest thing to achieve, for a fraudster, is to convince a user to invest an initial deposit. Prior to this a certain level of trust must be built, centered around a false sense of rapport. The broker will fake an interest in the user and in the process talk about market and profit opportunities, as well as investment choices. It’s all a part of a retaining strategy that will keep the user invested for at least a couple of thousand dollars, on average, until, eventually, he realizes the scammer pit he has fallen in.
When this happens, the broker will seize all contact with the user, and might even block the client from the website. It will go to great lengths not to return a single penny of the user’s money.
WHAT TO DO IF SCAMMED
The first thing you should do it to file for a charge back. That’s if you have invested by means of a credit or debit card. MasterCard and VISA have a chargeback period of 540 days giving users more than enough time to try to get their money back.
Wire transfer deposits are not as easy to acquire, and the best advice we can give you is to set up a reimbursement strategy with the bank leading the transactions. Most banks have strategies put in motion when these circumstances are met. Furthermore, if scammed via a wire transfer, it’s best to change your bank account user name and password.
Unfortunately, all crypto deposits are most surely lost for good. These transactions are untraceable and therefore once they reach the scammer end it all depends on the fraudsters if you see your money back or not.
Lastly, do not trust recovery agents or agencies. These are either separate scammers trying to get a hold of any leftovers, or can even be an extension of the brokerage scam.