Operating status: SCAM
On August 8, 2023, the Financial Conduct Authority (FCA) issued a warning against Blockstramfx, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/blockstramfx
Blockstramfx fails to disclose its regulatory information, a significant scam indicator.
While it provides an address in the UK, it fails to obtain authorization from the Financial Conduct Authority (FCA), as evidenced by the warning from the FCA.
In essence, Blockstramfx is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
On 16 November 2023, the UK Financial Conduct Authority (FCA) added the domain name and company name used in the scam, believing that the broker may be providing financial services or products without appropriate authorization: https://www.fca.org.uk/news/warnings/blockstramfx-fxblockstream