Blockwave Xchange is a CFD broker with its domain registered on September 10, 2023. The broker primarily offers investment services in markets such as forex, cryptocurrencies, indices, stocks, energy, and commodities. It does not provide services to countries or regions where doing so might violate local laws or regulations.
Company Registration Information and Regulatory Status
Public information on the Blockwave Xchange (www.blockwavexchange.net) official website indicates that the broker was founded in 2016, claiming that its company entity is ASN and is regulated by the Australian Securities and Investments Commission (ASIC). However, the broker has not disclosed its entity registration information or detailed regulatory information.
Upon verification, the Australian Securities and Investments Commission (ASIC) does not have any regulated company under the name "ASN".
Therefore, Blockwave Xchange (www.blockwavexchange.net) is essentially a scam brokerage website with no company entity or regulatory oversight.
Account Opening Process
Blockwave Xchange's account opening process: Visit the broker's official website, click "Open Account" on the homepage or "SIGN UP" at the top right corner of the page to go to the account registration page. Fill in your name, email address, and other personal information as required, set a login password, and submit. After submission and account verification, registration is successful.
Trading Products:
Blockwave Xchange offers customers a variety of trading products, including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies, known for its high liquidity, allowing traders to profit from fluctuating exchange rates.
- Indices: Index trading allows speculation on the performance of an entire market or specific sector without trading individual stocks, offering diverse trading opportunities and leveraging potential gains.
- Commodities: Commodity trading covers key resources in the global market, allowing traders to buy and sell various raw materials, including metals, energy, and agricultural products.
- Stocks: Stock trading enables investors to participate in public companies' price fluctuations, earning profits from price changes and dividends based on the company's performance without actual stock ownership.
- Cryptocurrencies: Cryptocurrency trading offers enthusiasts opportunities to profit from highly volatile digital assets.
Investment Plan
Blockwave Xchange's official website does not disclose information on account types, spreads, trading leverage, margin calls/stop-out levels, trading commissions, minimum/maximum trade sizes, maximum positions/order sizes, or minimum price increments.
Trading Platform
Blockwave Xchange provides a self-developed trading platform, claiming that it has an average order execution speed of less than 7.12 milliseconds and boasts over comprehensive liquidity providers, with more than 12,000 orders executed per second.
Deposits and Withdrawals
Blockwave Xchange only supports deposits and withdrawals via cryptocurrencies.
Conclusion:
Traderknows reminds investors that Blockwave Xchange is a scam broker that entices investors with high returns to deceive them. The website has no corporate entity and no regulation. It is recommended that investors choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
