Our focus today is on blockchaingates.com broker who is claiming that their trading platform offers low spreads and ultra-competetive commission. The about page of Blockchain Gates suggests that the company was founded in 2013 and that in 2019, over 74% of client orders were executed at the requested price. The broker also claims that their trading platform is dynamic and innovative and their company is implementing a client-centric approach. In other words, BlockchainGates is implying that they’ll put your interest first.

Today, many Forex brokers on the internet make these sorts of claims in order to woo clients to their platform. It doesn’t mean that these brokers are honest when they tell you that your interest will be considered first before theirs. For that reason, we took some time to assess Blockchain Gates services because their website looked professional and good promises were abound.

Before you make any considerations to use the services of BlockchainGates, you should be concerned with the points that we will raise in this broker review.

Basic information about Blockchain Gates broker

Website	https://www.blockchaingates.com/
Company	BlockchainGates Center (Unverified company)
Email	support@blockchaingates.com
Location	A virtual Switzerland address
Phone number	+442080975939
License	None
Assets	Forex and CFDs
Trading platform	TradingView

Review of the BlockchainGates broker website and their client portal

We found their website to be very professional and attractive. However, we also found out that the broker was not very transparent and honest with their promises. In addition to this, we could not ignore the nuemrous red flags which implied that this broker is a scam.

The following is our assessement of this broker’s website:

(1) The broker claims that the company BlockchainGates Center was founded in 2013. However, our assessement of the company’s website suggests that this broker was founded in October 2023.

(2)The company BlockchainGates Center has no online footprints and it seems this name has never been registered. A company that is more than 5 years old should at least be traceable when you search them out on Google.

(3)While the website is professional and attractive to look at and interact with, they still failed to capture their spreads, fees and commission. Every broker must state this information on their website so that traders are not caught by surprises when they meet the cost of trading on the platform.

(4)The physical address of this broker is a virtual one. This means the broker doesn’t have a presence in the physical address which they are using on their website. This must have been acquired from a third-party address provider such as matchoffice.com.

The client portal of BlockchainGates broker doubles up as the trading platform.

As soon as we registered with this broker, the broker blocked our access because they knew we were writing a review of their platform and were not genuinely interested in trading. Still we managed to pick out the most important details about their client portal and how things operate here.

Our observation is that it is a simple client dashboard with functions such as user profile editing, KYC verification center, deposit/withdraw page and of course the TradingView window was placed right in the center.

We also noticed that Blockchain Gates broker only offers a handful of assets for trading as opposed to the hundreds of assets which they boast of in their marketing material.

Deposits and withdrawals are processed via a third-party payment processor called payorderss.com.

The broker also provides an in-built live chat feature. To engage with the staff, one has to include their name and email address despite the fact that the user is sending a message right from their account and user dashboard.

A review of BlockchainGates broker account types

The broker’s minimum deposit for their basic account is $250. It comes with a dedicated account manager. To entice clients to upgrade to the next account (which attracts a deposit of $10,000), the broker is offering weekly signals, access to webinars and a “secret group”. They also claim that the higher account types come with swap discounts. The higher the account, the more the discount.

While perusing the broker’s supposed education material, we realized that it was very basic and no strategies were offered either. Furthermore, their webinars page is inactive. It is written “coming soon”. And their weekly signals is somehow suspicious because this broker failed to verify that their signals are profitable.

Is Blockchain Gates a scam broker?

This broker is a scam because they failed to tick all the checkboxes. For example, the broker lacks a regulatory license. This license is important because it assures us that the broker is following regulatory guidelines and will not scam traders. Secondly, their virtual address is a matter that cannot be sweeped under the carpet because it shows that the people who operate this brokerage are unwilling to disclose their real physical address. This is something we see quite a lot when reviewing offshore brokers. Finally, Blockchain Gates doesn’t have any track record. The name of their company is fake and the alleged track record on their about page is also fabricated.

The Pros and Cons of trading with this broker

Summary of this broker review

We found out that BlockchainGates is a broker with no track record whatsoever. We discovered that they are unlicensed and offshore-based. We also found that the broker’s services is incomplete. Their signals and trading education is a scam. Also we couldn’t ignore the fact that this broker’s identity is anonymous and they are using a virtual Switzerland address instead of their offshore address. This is not a broker that you can trust with your money. Stay away from them.