BlackStone Futures Review
Blackstone Futures offers its clients two trading accounts, depending on which platform you choose: MetaTrader 4 or the broker’s proprietary cloud-based platform. Both accounts offer commission-free trading, fixed spreads, leverage up to 1:100, as well as the option to trade in micro lots.
The Company. Security of Funds
BlackStone Futures is a South African brokerage, offering trading in forex, global equities, commodities and stock indices on two platforms. The brand is operated by BlackStone Futures (Pty) Ltd., a company which is licensed to provide investment and brokerage services by the Financial Services Board (FSB).
The FSB is in charge of the licensing process and oversees the non-banking financial services industry in the country, which includes the activity of financial service providers. What is more, licensed brokers must keep all client funds in segregated trust accounts in a recognized bank in South Africa.
Although regulation in South Africa is not among the strictest and most reputable ones (such as the one in US or UK, for example), it provides a certain level of reliability.
Minimum Initial Deposit
In order to open an account with BLACKSTONE FUTURES, traders have to invest a minimum of R5 000 which is around $357. Such minimum initial amount is average for the forex market. In comparison, Alfa Financials, which is also licensed by FSB, requires $1 000 as a start.
Spreads & Commissions
BlackStone Futures`s sole account provides only fixed spreads. The ones available on the MT4 platform are quite good, amounting to 1 pips on EUR/USD, while those on the proprietary platform are average – 2 pips for this pair. As most fixed-spread brokers, this one also does not charge commission, as it gets its remuneration through the spread.
For purposes of comparison, Cypriot broker Markets.com, which recently got a license from FSB, offers fixed spreads of 2.0 pips on the EUR/USD.
For more information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage level offered by BlackStone Futures is 1:100, which is considered a mediocre ratio, since most brokers provide more. Here is a list of brokers offering leverage equal to or exceeding 1:500.
Keep in mind, however, that the higher the leverage, the greater the risk.
BlackStone Futures supports the renown MetaTrader 4 (MT4), as well as its in-house CloudTrade platform.
As its name suggests, CloudTrade is a cloud-based trading platform. It is easy to use and provides relatively fast and reliable performance, allowing for instant execution of market orders and several pending order types. Thera are also CloudTrade apps available to download on android and apple.
However, we find that its charting package is quite limited and it lacks many of the advanced functionalities offered by MetaQuotes’s platforms, such as Expert Advisors (EAs).
So, it is a good thing that BlackStone Futures also supports the powerful MetaTrader 4, which is highly regarded by the online trading community mostly because it allows users to fully automate their trades by choosing from a wide range of EAs. What is more, it offers a number of technical indicators, extensive back-testing environment and advanced charting package. Here is a list of more forex brokers offering MT4 platform.
In fact, we find that the information on this broker’s website is rather scarce. Nothing is mentioned about account management services, VPS hosting or signals trading.
Methods of Payment
Clients of BlackStone Futures are able to use only bank wire transfers a payment method.
BlackStone Futures is a relatively young South African broker that offers trading in a number of financial instruments on its in-house web platform CloudTrade, and on MT4. The main thing that bothers us with this broker is that it does not offer ECN environment with variable spreads (it may be a MM).
BlackStone Futures Review Conclusion
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