Note: For some unknown reason, we cannot open Black Gate Brokers official site (https://www.blackgatebroker.com) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
Black Gate Broker, a trading name of BlackGateBroker LLC, is allegedly a forex broker registered in Austria that claims to provide its clients with forex trading with leverage up to 1:500 and floating spreads from 1.2 pips.
As for regulation, it has been verified that Black Gate Broker does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.10/10. Please be aware of the risk.
Market Instruments
Black Gate Broker is a forex broker that mainly offers forex trading. However, more specific information about tradable assets cannot be found on the Internet.
Leverage
A leverage ratio of up to 1:500 is offered by Black Gate Broker, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Black Gate Broker claims that the spread on majors starts from 1.2 pips.
Trading Platform Available
Black Gate Brokers website openly states that it gives its traders the leading MetaTrader5 trading platform. However, all the MT5 links were unresponsive to clicks. There was even a web trader version of the MT5 that was also unavailable. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
Black Gate Broker says to work with Visa, MasterCard, and bank wire. However, since the payment area was also malfunctioning, we can not say for sure what payment methods they really do accept. There is no minimum deposit requirement for the most basic account type.
According to the brokers Terms and conditions, the minimum withdrawal amount is $20 for all methods except for bank wire withdrawals, where the minimum is $100. If a trader requests to withdraw an amount lower than those, the broker will charge wires with a fee of $50 and cards with $10.
Bonuses & Fees
Black Gate Broker claims to offer some bonuses, yet we cannot be sure if the bonus can be withdrawn without any limitation.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Also, there is an annual inactivity fee of $100 for accounts that are dormant for a period exceeding 12 months.
Customer Support
Black Gate Broker‘s customer support can be reached by telephone: +43 664 1944 546, email: support@blackgatebroker.com. You can also follow this broker on social networks such as Twitter and Facebook. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
