BLGOTD is a CFDs broker whose official website domain was registered on June 28, 2024. The broker mainly provides investment services for markets such as forex, digital currencies, metals, energy, futures, and indices. It does not offer services to countries and regions where such activities might violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
Information on BLGOTD's official website states that its registered entity in Colorado, USA, is BLGOTD FX GLOBAL LIMITED, with the company registration number 20201899500. The broker claims to be regulated by the U.S. Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA), with MSB number 31000276204174 and NFA ID: 0564906.
Verification shows that the Colorado information market and FinCEN have a registered entity named BLGOTD FX GLOBAL LIMITED with the corresponding registration number as provided by the broker. However, there is no regulated company with NFA ID 0564906 in the National Futures Association (NFA).
Additionally, "The mission of the U.S. Financial Crimes Enforcement Network (FinCEN) is to safeguard the financial system from illicit use, combat money laundering and related crimes (including terrorism), and promote national security through the strategic use of financial authorities and the collection, analysis, and dissemination of financial intelligence," and thus, it imposes fewer restrictions on normal financial derivative trading.
Therefore, BLGOTD is essentially an unregulated scam broker website.
Trading Products:
BLGOTD offers a variety of trading products, including forex, indices, metals, commodities, and cryptocurrency CFDs.
- Forex: Forex trading involves the exchange of different currencies and is renowned for its high liquidity, allowing traders to profit from exchange rate fluctuations.
- Indices: Index trading allows speculation on the performance of an entire market or specific sector without trading individual stocks, providing diversified trading opportunities and potential high returns through leverage.
- Commodities: Commodity trading covers key global market resources, allowing traders to buy and sell various raw materials, including metals, energy, and agricultural products.
- Precious Metals: Precious metals trading refers to the buying and selling of metals like gold, silver, platinum, and palladium in financial markets. Their rarity and industrial use often make them a store of value and a hedge against inflation.
- Stocks: Stock CFDs are derivatives allowing traders to speculate on the price movements of individual stocks without owning the underlying asset, enabling profit from stock price trends.
- Cryptocurrency: Cryptocurrency trading provides opportunities for digital currency enthusiasts to profit from highly volatile assets.
Account Opening:
The account opening process for BLGOTD trading accounts involves visiting their official website, clicking "Open Account" on the homepage or in the top right corner, entering an email to receive a verification code, setting a password, and submitting the form. The account is created upon successful submission.
Trading Account Information:
BLGOTD offers users two types of real trading accounts: STANDARD ACCOUNT and ECN ACCOUNT.
STANDARD ACCOUNT:
- Trading Platform: BLGOTD
- Execution Speed: Instant execution
- Products: Commodities, futures CFDs
- Maximum Leverage: 1:500
- Spreads: Starting from 1 pip
- Trading Commission: $0
- Minimum Deposit: $200
ECN ACCOUNT
- Trading Platform: BLGOTD
- Execution Speed: Instant execution
- Products: Commodities, futures CFDs
- Maximum Leverage: 1:500
- Spreads: From 0 pips
- Trading Commission: $6 per round turn
- Minimum Deposit: $200
Trading Platform:
BLGOTD claims to offer a proprietary trading platform for users, available on both web and mobile. The mobile platform uses software called Proket, while the web platform is similar to those used by multiple scam brokers.
Deposits and Withdrawals:
BLGOTD supports deposits and withdrawals through Mastercard, VISA, NETELLER, Skrill, and bank transfers.
Summary:
Traderknows reminds investors that BLGOTD is actually a scam broker website with no valid regulation. The website does not disclose a genuine company operating address and does not provide any contact information. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
