Blaze Markets Overall rating

We tested Blaze Markets using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.

Trustworthiness & Regulation

Blaze Markets is regulated in Comoros, but it is important to note that these jurisdictions are not considered major financial authorities. The broker offers segregated client money and negative balance protection, providing some level of security for traders. However, Blaze Markets does not offer a deposit compensation scheme, which may be a concern for some investors.

Blaze Markets has been in operation since 2020, which classifies it as relatively new in the forex market. It has garnered a moderate amount of web traffic, with 4,931 organic monthly visits according to SimilarWeb.

Despite this, Blaze Markets currently has no user reviews, ratings, or verified accounts, which could indicate a lack of widespread trust or recognition among traders.

The broker ranks 471 out of 1101 forex brokers based on user ratings and 323 based on expert ratings, suggesting that while it is making its presence felt, it still has significant room for improvement.

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
Blaze Market Limited	Comoros - ML MISA					200 : 1
Blaze Market Limited Saint Vincent and the Grenadines						200 : 1

Deposit Insurance

Blaze Markets does not offer a deposit compensation scheme, meaning that in the event of the broker's insolvency, clients may not be eligible for compensation. This can be a critical factor for traders who prioritize the security of their funds.

Investors should consider this aspect carefully when choosing Blaze Markets as their broker, especially when compared to brokers regulated by authorities that mandate deposit insurance schemes.

Spreads and Costs

When comparing asset class averages, Blaze Markets offers competitive spreads on Forex and Commodities, but slightly higher averages on Indices compared to industry-leading brokers.

The broker's Forex average spread is 2.89 pips, which is lower than HFM and XM but higher than Pepperstone and Axi. For commodities, Blaze Markets has a spread of 0.21, which is on par with HFM and IC Markets.

Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers

Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.

Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.

Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.

Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.

Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers

Comparison to other Brokers

When comparing Blaze Markets to other industry-leading brokers, several factors come into play. Blaze Markets is relatively new, established in 2020, and regulated in jurisdictions that are not considered major financial authorities.

It offers competitive spreads on Forex and Commodities, though it falls short in providing a comprehensive deposit compensation scheme. In terms of user reviews and popularity, Blaze Markets has a lot of catching up to do, with no verified user reviews and a moderate amount of web traffic.

In contrast, brokers like IC Markets and Pepperstone, which are regulated by top-tier authorities, provide more assurance to traders through robust regulatory oversight and compensation schemes.

They also boast better user reviews and more significant market presence. However, Blaze Markets' competitive edge lies in its lower spreads on specific asset classes and the availability of negative balance protection.

Trading Platforms - Mobile, Desktop, Automated

Blaze Markets offers the popular MetaTrader 4 (MT4) platform, known for its robust charting tools, comprehensive technical analysis, and automated trading capabilities through Expert Advisors (EAs). The platform is available on mobile, desktop, and web, providing flexibility for traders to manage their accounts and trade from any device.

MT4 supports automated trading using the MQL4 programming language, which is user-friendly and widely supported by the trading community, making it easier for traders to develop and implement automated trading strategies.

What Can you Trade?

Blaze Markets offers a variety of trading instruments, primarily through CFDs (Contracts for Difference). This includes over 120 CFDs, more than 40 Forex CFDs, 100+ Stock CFDs, 9 Stock Index CFDs, and 7 Commodities CFDs. While the broker does not offer Crypto CFDs, ETFs, or Futures CFDs, it provides a diverse range of other assets to trade.

It's essential to understand that trading CFDs does not involve owning the underlying assets but rather speculating on their price movements, which can be highly leveraged. Leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the potential for significant losses.

For more detailed information on the specific instruments available, visit Blaze Markets' official website.

Available Leverage

Blaze Markets offers a maximum leverage of 200:1 for retail clients. This leverage is consistent across its entities in Saint Vincent & The Grenadines and Comoros.

Leverage allows traders to amplify their exposure to the market with a relatively small amount of capital. However, while higher leverage can increase potential profits, it also significantly magnifies potential losses, making it a double-edged sword.

Traders should exercise caution and ensure they fully understand the risks associated with leveraged trading.

Prohibited Countries

Blaze Markets does not explicitly list prohibited countries on its website. However, it is common for brokers to restrict services to residents of certain jurisdictions due to regulatory and compliance reasons.

Traders are advised to consult Blaze Markets' customer support or refer to the broker's terms and conditions for detailed information on any country-specific restrictions.

Typically, brokers do not offer services to countries with stringent financial regulations or where they do not have the necessary regulatory approval.

Blaze Markets Account types

	Standard	Pro
Commission	FX Pairs / Metals / CFDs – $0 Cryptocurrencies – 0.5%	FX Pairs – $4 Metals – $8 CFDS – $8 Cryptocurrencies – 0.5%
Maximum leverage	200:1
Mobile Platform	MT4 Mobile
Trading platform	MT4
Spread Type	Variable Spread
Minimum Deposit	100	250
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

	Standard
Commission	FX Pairs / Metals / CFDs – $0 Cryptocurrencies – 0.5%
Maximum leverage	200:1
Trading platform	MT4
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	100
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

	Pro
Commission	FX Pairs – $4 Metals – $8 CFDS – $8 Cryptocurrencies – 0.5%
Maximum leverage	200:1
Trading platform	MT4
Mobile platform	MT4 Mobile
Spread type	Variable Spread
Minimum deposit	250
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

Blaze Markets Web traffic

Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.

Blaze Markets Profile

Segregated Accounts

Accepts Canadian clients

Variable spread