BlackStone Futures is a contract for differences (CBD) and Forex Trading Brokers. It is situated in the South African locality known as Johannesburg. It was founded in the year 2009 by Nick Sproule. He is the co-founder and operates the company as the Chief Executive Officer (CEO).
The company offers its clients to trade for both international as well as local markets and provides more opportunities and options. There are more than 750 financial instruments available for the clients. They have a considerable reach to their neighboring countries Lesotho, Swaziland, and Namibia. It is an STP trading company. STP is short for Straight-Through processing. Liquidity in the market is retained and there is no conflict of interest.
More information on BlackStone Futures
As stated above, it was founded in the year 2009. The maximum leverage offered to the investors by the company is 1:400. BlackStone Futures have full-time support and trading hours are open full day for 5 days a week. It does not operate during the weekends. Base currencies include USD, ZAR, and GBP. The lowest value of the PIP (percentage in points) given is 0.6 pips EAU/USD. The platforms on which you can start trading or able to access are MetaTrader4 and WebTrader.
The modes of payment accepted to deposit are Credit/Debit Card, Neteller, OZOW, ATM, EFT, Bank Wire Transfer, Skrill.
Pros and cons while choosing the firm
- You can make same-day withdrawals
- Firm is regulated by the FSCA.
- Clients are protected against negative balance
- Customer service is much appreciated.
- You only get to create the standard and the raw account, Islamic account is not included.
- Trading platform till MT4 available, advance MT5 is not included.
Education for forex traders
If you are a beginner and looking forward to starting investing in the forex, then BlackStone’s website is the right choice for you. They have multiple educational tools and materials for young and enthusiastic traders. It is important to get acknowledged with the basic concepts and terms.
They also post video tutorials on their YouTube Channel. Provision of classes, writeups, Facebook webinars for beginners as well as for the professionals is available. Once you create your live account on the website, you can access all the material for free of cost. They have even used social media wisely.
Let’s see modes of payment in detail
One best thing about this website are that it has multiple modes of payment options.
- EFT (Electronic Funds Transfer)
Electronic fund transfer refers to the money transfer through an online portal. The deposited amount reflects in your account within minutes.
- OZOW transfer
This is an interbank fund transfer that is accessible to the accounts with ZAR currency (ZAR is the local currency of South Africa).
- Debit or credit card
This is the widely accepted and most popular payment option throughout the world. This also is mostly for ZAR accounts. But traders with USD accounts can also request this option.
- ATM card
Traders in South Africa can invest money directly into the account of the broker.
- Netteler and Skrill
Both Netteler and Skrill are kind of e-wallet options. Those are also eligible options.
- Bank wire transfer
When the traders are operating from outside of Africa, this method is used. They use their local USD. It takes 3 days to reflect in the broker account.
Is the demo account only for beginners?
When we see or hear the word demonstration, we think that it is for some who are new to the environment. Similarly in this case also, the demo account familiarises you with the trading process and terms. There is an exception though. Demo account can be and are mostly used by experienced traders to develop new techniques and strategies.
A demo account can be used for other purposes also. If you think that recently you are facing greater challenges in trading and that your money will be at stake, then you can turn to a demo account trying to cope up with the process. Once you create a demo account, don’t be inactive for a longer period. That will lead you to your account termination or deletion.
After gaining enough confidence, developing strategies, and getting used to the terms, you can finally open your live account.
You may be interested in: The Beginner’s Guide to Forex Trading