Blackwell Global Broker Review

Is Blackwell Global safe?

Founded in 2010 and headquartered in the United Kingdom, Blackwell Global Investments (UK) has gained a strong international presence in over 90 countries, including Singapore, China, Thailand, and the Bahamas.

Blackwell Global holds a Financial Conduct Authority (FCA) licence in the UK and is regulated by the Bahamas Securities Commission. The broker has expanded around the world with nine additional offices across Cyprus, Cambodia, and New Zealand.  See below for more details:

• Blackwell Global Investments (UK) Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register Number 687576.
• Blackwell Global Investments Limited is authorised and regulated by the Securities Commission of The Bahamas, Certificate Number SIA-F215. TIN. 109226376.

Blackwell Global held a licence with CySEC since 2011, but in 2018 the Cyprus financial regulator announced its decision to wholly withdraw the Cyprus Investment Firm (CIF) authorisation.  CySEC did not give any specific reason for its decision.  According to Blackwell Global, it was a voluntary renunciation by the company in order to focus on the development of other areas of its business, and it no longer needed the CYSEC licence because it had acquired a regulatory licence from the FCA (UK). 

Traders should be aware that as an STP/ECN, Blackwell Global transmits trades to the following execution venues:

• Divisa Capital:
• Sucden Financials:
• Blackwell Global Investments Limited.

The transmission of trades to Blackwell Global Investments Limited may create a conflict of interest, because the company obviously has a material interest in this execution venue.  However, Blackwell Global states that the platform on which orders are transmitted will display the best available price without bias as to the venues available, thereby reducing the scope for conflicts. 

Blackwell Global has also won numerous industry awards, including:

• Best Forex Broker UK 2019 – Acquisition International
• Best Forex Broker UK 2019 – Global Business Outlook
• Most Trusted Financial Service Provider 2019 – Wealth & Finance

Note that Malaysian traders will be trading under Blackwell Global Investments Limited, registered in the Bahamas.  Client funds are segregated from the company’s operating capital, but Malaysian traders are not offered automatic negative balance protection.  The company will, however, prevent traders from going into a negative balance by setting Stop Out levels at 50%. 

Trading Conditions

Blackwell Global offers trading on multiple instruments, including 47 currency pairs, 12 CFD indices, and commodities on four live accounts.  All accounts are market execution accounts and can be denominated in either USD, EUR, or GBP, with a minimum trading volume of 0.01 lots.  There are no minimum deposit requirements, and leverage is up to 200:1. 

Although it states on the website that negative balance protection is afforded to all clients, according to customer service, Blackwell Global does not offer this service to its global clients (under the Bahamas’ regulation), and so Margin Calls are set at 80% and Stop Out levels are at 50% to prevent traders going into a negative balance.  Blackwell Global only supports the MT5 platform and allows all trading strategies, including hedging, scalping, and copy trading.  Malaysian traders will be pleased to note that Blackwell Global offers Islamic swap-free accounts. 

Turbo Account

Blackwell Global states that spreads on the Turbo Account start at 0.2 pips; however, Turbo spreads are not published on its website.  A commission of 2.5 USD/lot per side (or 5 USD round turn) is charged on each trade.  However, traders can only deposit a maximum of 5,000 USD/EUR/GBP, and according to customer service, the account will not be closed if earnings exceed this amount. 

Premium Account

Premium accounts are commission-free accounts with no minimum deposit requirements.  Maximum deposits are 5,000 USD, and accounts are denominated in EUR/USD/GBP.  Although it states on the website that Premium account spreads are low, nowhere are these spreads published. 

Standard Account

The Standard Account is a commission-free account, with spreads significantly wider than the industry average, starting at 1.80 pips on the EUR/USD.  Standard account-holders are offered the support of a personal account manager.

ECN Account

Spreads are also wider than other industry players, starting at 0.7 pips (EUR/USD) on the ECN account, and a high commission of 4.5 USD/lot per side (9 USD round turn) is charged.  Traders can also choose to trade in micro-lots. 

Spreads and Commissions

Spreads on the Turbo Account start at 0.2 pips for the EUR/USD and start at 0.6 pips and 1.8 pips on the ECN and Standard accounts, respectively.  Spreads for the Premium account are not published.  No commissions are charged on the Standard or Premium accounts.  Commissions on the ECN account are high, at 4.5 USD/lot per side (9 USD round turn), and are 2.5 USD/lot per side (5 USD round turn) on the Turbo account.  

Deposit & Withdrawal Fees

In line with Anti-Money Laundering policies, all deposits must be made from an account/card registered in your name, and Blackwell Global does not accept third-party deposits.  Blackwell Global does not charge deposit or withdrawal fees, and withdrawal times vary depending on the banking provider but range from one to five days.  All accounts are denominated in EUR, GBP, and USD.  See below for details:

• Bank Transfer – No deposit fees are charged and can take up to five days to reflect, depending on whether the bank is local or international.  Minimum withdrawals are 100 USD, and there are no maximum withdrawal amounts.
• Visa/Mastercard – Deposits and withdrawals are processed instantly, and the minimum withdrawal amount is 0.01 USD.
• Skrill – Deposits and withdrawals are processed instantly, and the minimum withdrawal amount is 0.01 USD.
• Neteller – Deposits and withdrawals are processed instantly, and the minimum withdrawal amount is 0.01 USD.

Inactivity Fees

Blackwell Global charges an inactivity fee of 25 USD per month after six months of account dormancy. However, the broker is happy to waive these fees if you discuss a trading break with them beforehand. Daily financing costs (swaps) also apply to positions rolled over to the next day.

Blackwell Global for Beginners

Blackwell offers a fairly limited selection of educational and market analysis materials for beginner traders, and there is a discrepancy between what is available for clients trading under the FCA-regulated entity and global clients trading under the Bahamas’ regulated entity.  However, the responsive customer service is available 24/5 in 11 different languages.  Note that neither the website nor its educational and market analysis materials are translated into Malay.   

Educational material

Note that educational material is not available for Malaysian traders regulated under the Bahamas subsidiary.  For clients trading under the FCA-regulated entity, Blackwell Global provides educational guides, but these mainly delve into the specifics of how to set up a Blackwell demo account, video tutorials on how to use the MT4 platform, various e-books, and training articles on forex, MT4 indicators, and technical analysis.  Traders can also sign up for free webinars through the Trading Bootcamp. 

Market Analysis

The market analysis materials are more extensive than its educational section, featuring a series of trading tools, Market Outlook, an Economic Calendar, and a general news section.  The Market Outlook section provides market insights from the in-house analysis team on relevant market events.  Blackwell Global also provides regular articles on relevant company news.   Again, these materials are not available through the Bahamas subsidiary website. 

Customer Service

Customer support is available 24/5, via live chat, telephone, email, and a call back service in 11 different languages, but unfortunately not in Malay.

For the purposes of this review, we found the customer service responsive and polite.

Trading Platforms

Malaysian traders can only trade using the MetaTrader5 (MT5) platform.  MT5 is a multi-asset platform that allows trading Forex, stocks, and futures. It offers superior tools for comprehensive price analysis, algorithmic trading applications (trading robots, expert advice), and copy trading. It also has a more modern interface than its predecessor, MT4, and allows for an unlimited number of charts to be used, shows Depth of Market, and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system. The MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4.

Evaluation Process

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Markets.com offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Blackwell Global Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Blackwell Global would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

Blackwell Global is an FCA-regulated broker based in London, offering a range of account types on the MT5 platform. Turbo, Standard, Premium, ECN, and Islamic accounts are all available, but trading conditions are generally poor compared to other STP/ECN brokers.  Malaysian traders are afforded leverage of 200:1, and there are no minimum deposit requirements.  A significant drawback is the lack of educational and market analysis material, making it a poor choice for beginner traders.

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.