blackrockcoltd is not a licensed or regulated broker even though it states offers that look good to be true. blackrockcoltd claims it is owned and operated by Unocal Group Limited, a company authorized and regulated by the US National Futures Association (NFA) and the Australian Securities & Investments Commission (ASIC).
We searched the above two authorities. First, we did not find any match results to blackrockcoltd or Unocal Group Limited in ASIC. The regulatory information in ASIC is a false statement for unsuspecting investors.
Second, when we searched in NFA, we found this broker is not under valid regulation by NFA since it is not an approved member of this regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, blackrockcoltd doesn't satisfy these conditions.
The truth is, blackrockcoltd is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like blackrockcoltd and trade with licensed brokers.
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