BlumanStock Review: A Terrible Forex Scam from Marshall Islands

BlumanStock is a forex broker that also offers trading education to clients. The company claims to be an award-winning forex broker. Interestingly, every shady company in the market says this about itself. You can never trust a company simply by what they tell you. Illegitimate companies will say anything to get you to invest your cash.

We can assure you that BluemanStock does not have enough experience in the market. This company only started on the 13th of October 2020. Such a company cannot boast to be among the best legitimate forex brokers in the market. This is yet another company that is overselling itself to get you to invest.

You are better off investing in companies that have been in the market for a long time. Such companies have the trust of millions of investors for a reason. They operate with full transparency and professionalism. 

If you are looking to invest in the forex space, this is not the company for you. They have no intention of sticking around for long. Their only goal is to steal people’s funds. Here is our detailed review on why you should not trust this company with your funds.

Blumanstock.com Review

This company claims to have the technology and expertise to keep you ahead in the forex market. While the technology might be there, we doubt that these people have any expertise. The company has less than a year in the market. Such a company should not be bragging about its expertise in the market.

Moreover, you can tell that the people behind this company are not professionals. The website lacks transparency. We have no idea who is behind the operation. Professionals will never leave out such critical information.

Furthermore, the services this company offers require us to know the team. The company is offering trading education to clients without revealing the identities of the educators. Legitimate companies will always introduce educators and present their trading results.

Taking trading education from unknown individuals on the Internet is a bad idea. You may be taking trading advice from people with terrible trading results.

On a good note, though, this company offers one of the best trading platforms in the market. The trading platform that clients get is an MT4 platform with a slot of features. However, this is not enough to trust a company. Such perks mean nothing when coming from shady companies.

BlumanStock Contact Details

There are two main channels to reach the customer support team of BlumanStock. You can give the team a call at +441213143345. Additionally, you can email the team at support@blumanstock.com. Further, you can fill out a contact form on the website’s contact us page.

Having several contact channels is necessary for a company handling people’s funds. However, there is no guarantee that this company will respond to any of your queries. Many scam operations block the numbers of their victims once they steal from them.

While the customer support might be there, this company lacks in all other aspects. You should avoid these people like the plague. They are only in the market to steal people’s money.

BlumanStock Account Types and Trading Conditions

There are five main accounts to choose from on BlumanStock. These include the Green, Premium, Platinum, Executive, and Presidential accounts.

The Green account requires a minimum deposit of €5,000. This gives clients spreads between 2.5 pips to 3 pips. Additionally, clients get a dedicated personal analyst.

On the other hand, the Premium account requires a minimum deposit of €25,000. The spreads for this account start from 2 to 2.5 pips. 

The next account is the Platinum account. This requires a minimum deposit of €50,000. The spreads for this account start from 1.5 pips to 2 pips. 

Next up is the Executive account. This requires a minimum deposit of €100,000. For that, clients get spreads starting from 1 pip to 1.5 pips.

The final account is the Presidential account. This one accepts a minimum deposit of €250,000. This gives clients spreads from 0.5 to 1 pips.

These are some of the most expensive accounts in the market. Additionally, the company offers very high leverage. This increases the risk tha6t clients face in the market.

Founders and Physical Address

Like many other scam operations, BlumanStock does not introduce us to any of the founders or team members. The people behind this company are operating under total anonymity. There are a lot of risks involved in investing in mysterious people on the Internet. Such people hide their identities to ensure that the law does not track them down.

Moreover, revealing their identities would help win the trust of clients. We do not understand why they wouldn’t just do it. Run from this company while you still can. These people cannot provide you with the services you are looking for.

Furthermore, it is impossible to track these people down. The company claims to operate from Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. However, we can assure you that you will not find this company in this location.

The Marshall Islands has very loose laws. This makes it easy for anyone to register and run a company in this jurisdiction. They do not even have to step foot in the company. As such, this is a fake address that scam companies use in the Marshall Islands.

Regulation and Fund Safety

BlumanStock is a company that operates without a regulatory license. We can confirm this because the Marshall Islands does not have a reliable forex regulator. That is why scam companies operate from this location.

Such companies are illegal before the eyes of the law. You do not want to invest in an unregulated company. They may decide to take off with your money and you will have no one to turn to. Remember that regulatory bodies are there to protect clients against scam operations.

Moreover, no unregulated company can assure you of your funds’ safety. Such companies do not have the right banking setup to protect your funds. There is no assurance that they have segregated accounts in Tier-1 banks. 

Additionally, BlumanStock does not provide any evidence of systems’ protection. There is no mention of the software or hardware they use to keep out intruders. Professional companies would never leave out such information. 

We believe that this company does not have any measures to keep out third-parties. This means that hackers can easily access and steal your funds and sensitive data. There is too much to lose with this company.

Final Verdict

BlumanStock is a company that is operating without a regulatory license. This company is operating from an offshore location without a forex regulator. This company is offering financial services illegally.

Additionally, this company’s transparency level is terrible. The company does not introduce us to any of the founders or team members. We find this to be unusual for a company that claims to be reliable.

For these reasons, we cannot recommend this company to you. These people are scammers who have no interest in servicing your investment needs. Moreover, this is still a young company. It is better to wait it out before investing.

If you are looking to invest, we recommend sticking to trustworthy and regulated forex brokers. Only such companies can help you protect and grow your accounts.

Tags: BlumanStock Scam Review, Blumanstock.com Review