Blackstone Futures Broker Review
Table of contents
Blackstone Futures, located in Rosebank Johannesburg, is a proudly South African Forex broker regulated by the FSCA. Despite being a local broker, they have a substantial reach within neighbouring countries such as Swaziland, Lesotho and Namibia. The brokerage, founded in 2009, ranks them as well established in the industry.
Experience zero conflict of interest due to Blackstone Futures being a straight-through processing broker. Enjoy tight spreads on both ZAR and USD account currencies.
Due to being a non-dealing desk, their goal is to educate and extend the longevity of clients’ accounts. This makes for an excellent beginner-friendly broker.
Execute trades on MetaTrader 4 and CloudTrade, a well designed proprietary trading platform for desktop and mobile.
You can find our comprehensive Blackstone Futures review below.
Pros / Cons
- Same day withdrawals
- FSCA regulated
- Negative balance protection
- No Islamic accounts
- Limited deposit options
- No MetaTrader 5
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Blackstone Futures (Pty) Ltd is a child company under Trade Nation Financial (Pty) Ltd in South Africa. They form part of a much bigger global business, regulated by ASIC in Australia and the FCA in the United Kingdom. Since their invent years, the FSCA regulated them under Blackstone Marketing (Pty)
- FSCA (Financial Sector Conduct Authority): 49846
Being regulated by the FSCA and having ties with ASIC and the FCA ensures trust and fair operations. Being a local broker offers the added benefit that allows traders to visit their offices in Rosebank Johannesburg.
Blackstone Futures is well regulated, safe and secure. An excellent broker of choice for South African currency enthusiasts seeking a regulated broker that has been in the industry for over ten years.
Blackstone Futures is an STP (straight-through processing) broker and do not take the opposite side of clients’ trades. This is a different approach to many leading brokers.
They offer traders a zero conflict of interest trading environment, which works well with their efforts to increase the lifetime of clients’ accounts. They only make money when you open trades, irrespective of the outcome.
Being an STP broker, slippage and order execution is heavily dependent on market volatility and liquidity, or lack thereof. Requotes and slippage rarely occur. Their liquidity providers receive orders directly for execution.
Their price feed seems to be accurate within standards with little to no latency. Price manipulation, such as stop-hunting is non-existent.
These trading conditions allow for the successful implementation of scalping strategies. Hedging is also allowed on their MetaTrader 4 platform but not on their CloudTrade platform.
Forex Trading Education
They have an extensive range of educational material available on their website, such as weekly webinars to discuss trading strategies. They also offer a Masterclass. This education helps traders learn the basics to trade Forex successfully.
All these features are provided free of charge but do require traders to have a live trading account.
Multiple educational articles can be found on their website, covering platform insight and Forex trading in general.
Due to their efforts, we rate them as a beginner-friendly broker.
Brokers that pride themselves on top-class support is a strong indication of trust and transparency. Their support team is extremely knowledgable and patient with beginners. Need help setting up your trading platform? They will happily assist you via TeamViewer on desktop or mobile.
Their support stretches 24/5, covering all trading hours. Blackstone Futures provides support via multiple different channels, making it easy to get in touch with them.
- LiveChat via their website: Available Monday – Friday from 07:00 to 22:00 and Saturday – Sunday 12:00 am – 22:00
- Email Support: Available Monday – Friday from 07:00 to 22:00
- Office Phone: Available Monday – Friday from 07:00 to 22:00
- Trading Desk: 24/5 – Account queries and Order Execution
- Whatsapp: Available Monday – Friday from 07:00 to 22:00 and Saturday – Sunday 12:00 – 22:00
- Social Media: Available Monday – Friday from 07:00 to 22:00 and Saturday – Sunday 12:00 – 22:00
Deposits and Withdrawals
Traders can start trading with as little as ZAR 1,000. You can top-up your account with ZAR 100 or more at a time. Deposits can be sped up by email proof of payment or informing support staff via LiveChat. When depositing, the client must use their trading account number as the payment reference.
They offer a wide range of local deposit options.
- EFT (Electronic Funds Transfer): A local way to deposit funds within South Africa. Deposits can reflect within minutes when using ABSA or take 24 – 48 hours when done from any other bank within SA. Doing an instant or immediate payment can reduce the time it takes to clear into your trading account. Traders can use this method to fund their ZAR or USD accounts.
- OZOW (iPAY): An instant EFT method from any bank within South Africa, free of charge. Only available to ZAR accounts. If you would like your funds in your USD account, you can request an internal transfer.
- Credit/Debit Card: Deposit using your VISA or Mastercard. An instant way to deposit funds into your ZAR account. If you would like your funds in your USD account, you can request an internal transfer.
- Bank Wire Transfer: Mostly used to fund USD accounts when located outside of South Africa. Can take 2 – 3 working days to reflect.
- ATM Deposit: Clients within SA can deposit cash directly into the broker bank account at an ABSA ATM. Instant in most cases.
There is no withdrawal limit or minimum amount. Withdraw your profits as often as needed. All withdrawals are processed the same day that it is requested. The cut off time is 15:00. Withdrawals are only made Monday – Friday.
Blackstone Futures covers all fees and bank charges enquered. The broker requires a document to show “proof of bank account” in the trader’s name before any processing of withdrawals is done.
To further assist traders, they offer a 30% welcome deposit bonus when depositing the minimum amount of ZAR 1,000. The bonus is only on first-time deposits. Make the most of it.
Blackstone futures believe all clients should get the same benefits, no matter their account size. All accounts come with negative balance protection. A great feature to have as a trader.
All clients have the option to open a free demo account without having to commit. The demo account is valid as long as it is active. Inactivity of 30 days will disable the account. Traders are allowed to have multiple demo accounts in each of the account currencies offered.
The only exception being their CloudTrade platform. Be sure to select the correct account currency as it cannot be changed.
Blackstone Futures applies a standard 1:100 leverage to all accounts. They can increase the leverage, on request, to a maximum of 1:400. Leverage can also be lowered.
Trading account leverage is not dependent on your account balance.
Spreads and Lot Sizes
Traders can execute micro lot sizes (0.01) on both USD and ZAR accounts and spreads are tight on both account types and platforms. MetaTrader 4 offers floating spreads, while CloudTrade provides fixed spreads.
Average Standard Account Spreads on Majors
- EUR/USD: 0.6
- GBP/USD: 0.8
- USD/JPY: 1.0
- AUD/USD: 0.6
They offer only one account type in three account currencies, ZAR, USD and GBP. Blackstone Futures does, however, not provide swap-free or Islamic accounts at the time of writing this review.
- MetaTrader 4: Offered in both USD and ZAR. MetaTrader 4 is the worlds’ most popular trading platform, designed by MetaQuotes.
- CloudTrade: Blackstone Futures’ proprietary platform. This platform is available on desktop as a web-based platform and as a mobile app for Android and IOS. CloudTrade was explicitly designed with simplicity in mind, as it caters for both beginner and experienced traders. The platform offers unique features such as guaranteed stops.
IB Affiliate Program
Blackstone futures offers a very competitive IB program. Due to not being a market maker, CPA and revenue share deals are not available. IBs earn a standard 40% spread rebate every time traders, referred by them, open a trade. This applies to the entire lifetime of their traders. Unfortunately, a ‘refer a friend’ program is absent as of current.
Blackstone Futures Review Summary
Blackstone Futures is a proudly South African FSCA broker. Traders have the benefit of visiting their offices, allowing them to meet the people with which they are dealing. A unique form of trust and deciding factor for traders.
They offer USD and ZAR account currencies on both MetaTrader 4 and CloudTrade. All clients are valued equally, receiving the same benefits, such as leverage and bonuses.
One of the standouts from the review is the same-day withdrawals. This allows South Africans to receive their funds with minimal delay.
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