Bloombex Options was founded in 2009 and the owner of the company was until recently Pipel Capital ltd which in turn was owned by Bloombex ltd. Pipel Capital ltd was registered in the UK, 20-22 Wenlock Road London N1 7GU which is a mail forwarding and virtual office. Today, Bloobex is owned and operated by E. B. Services Limited with new virtual addresses: 5th and 6th Floors, Landmark Bulding, 14 Tsar Osvoboditel Blvd., Sofia, 1000, Bulgaria and in UK at 4th Floor Radius House, 51 Clarendon Road, Watford, Hertfordshire, WD17 1HP. Bloombex is not regulated and interestingly, they are not authorized to operate in Bulgaria where they claim to be stationed.
Update 2017: Bloombex Options has registered no traffic for a period of several months and should be considered closed!
Is Bloombex Options A Scam?
Bloombex Options has been blacklisted by many national and international regulators, black listed by hundreds of alleged victims and to sum it up, we recommend avoiding this broker. In any case, Bloombex Options doesn’t seem to operate anymore, so you’re safe from scam.
Editor’s Note- Why does Bloombex Options Suck in 50 Words
There is no doubt over the fact that Bloombex certainly is a part of the Binary Options brokers’ category which does not deliver what it promises it will. Update 2017: Further research shows that Bloombex is still hiding behind virtual offices despite new ownership. We can also consider them a closed broker due to no traffic as of November 2016.
Why Bloombex Options Doesn’t Suck in 50 Words
Unlike most Binary Options brokers who does not support PayPal, At BloombexOptions a trader can deposit and withdraw via PayPal. Only a few brokers allow PayPal service, however, the maximum withdraw via PayPal cannot exceed the deposited amount.
Should I Open an Account with Bloombex Options?
Bloombex has been introduced as a versatile trading platform which supports forex as well as binary options trading. There is nothing new about this platform and it seems to be very similar to the other binary options trading platforms available in the market and thanks to the many complaints and CySEC warnings we fear that Bloombex is a scam. Update 2017: Bloombex seems to have ceased all operations as their traffic has stopped completely.
Some of the essential features which can be highlighted about this trading platform is that at a first glance the payouts look great, the one touch weekend options seems good, there are multiple assets to trade on, the demo tour seems informative and the numerous deposit options makes us feel like it is a great buy – if we didn’t know better. The OneTouch trading option helps traders to keep their positions open throughout the day and thus, they can hope to reach the payout, however, we must understand that Bloombex is not the only trading platform to provide customers the One Touch option. In fact, I have personally used several top trading platforms and all of them seem to have this feature.
Bloombex Options Complaints
First and foremost: a company, specially a poorly made white label that tries to hide its whereabouts and hides behind virtual offices shouldn’t be trusted. Second: we have confirmed that CySEC has issued a warning against ‘Pipel Capital’ that operates Bloombex options. This warning is now being shared by several other authorities around the globe in order to spread the word and hinder new potential victims. Third: the complaints from different sources are very serious and are about withdrawals and scammer account managers! Fourth: In one of our weekly “easy money exposed” scam reviews, we found out the broker affiliated with the scam called Virtnext is Bloombex. Thanks to our comment section below, we also know that Bloombex has partnered with similar “get-rich-quick” schemes before. One example according to the comment section is a scam called “Apple Bot”.
In conclusion, Bloombex is another lazy, poorly made white label put together to scam people. Add to it the fact that they don’t have any traffic anymore, it is obvious that they had to shut down due to the bad reputation and the warnings issued.
Click on the links below to read many more scam reports on Bloombex:
Tradercomplaint.com – Over 10 very serious scam reports!
Forexpeacearmy.com – Several similar scam reports as above.
Ripoffreport.com – Story of how a traders account was depleted by an account manager.
BinaryOptionsthatSuck.com – Comment section below contains multiple sad stories. Pay special attention to page 9. How a retired disabled Vet. (Thomas) was scammed of a fortune
Bloombex Options Regulatory Announcements and Warnings
18.11.2016: Bulgarian FSC warns against Bloombex and their new company E.B. Services LTD. Despite claiming to be addressed in Bulgaria, they are not authorized and licensed in the country. Source: FSC.bg
07.03.2016: The Ontario regulator, OSC, added Bloombex to their list of unregistered companies. Source: OSC.gov.on.ca
28.01.2016: FINMA in Switzerland warns against Bloombex which is an unauthorized financial service provider. Source: FINMA.ch
17.09.2015: CySec warns against Bloombex-options.com. Reason; not authorized by the commission or any other authority. Source: CySec.gov.cy
09.03.2015: Italian Consob warns against Bloombex for being unauthorized. Source: Consob.it
BloomBex Options Bonus
The bonus at bloombex options is at least 30% for any deposit. Another banner says that with every 100-500$ investment you get a 100% bonus. The bonus wager is 27 per 1$ bonus you get and you can absolutely not withdraw your money after accepting a bonus and neither can you cancel the bonus.
Bloombex Options Withdrawal
Check our article center for more information about withdrawal, and why it so important. Bloombex will not let you withdraw any funds, at best you might get some of your initial deposit back but that can take several months. Most likely you will never see your funds again. Moreover, the minimum withdrawal amount is way too high at 100 currencies.
Bloombex Options Ratings
User Friendly 5/20
Update 2017: Some things have changed since we last checked on them. They no longer offer Japanese language which is a good thing as they are not regulated in Japan (or anywhere for that matter). They have also clearly stated who the owner is but the address is still just a virtual one. The website is not appealing at all, it seems really cheap and not much effort has been made to bring us a unique experience. At least there is a “how to trade” tutorial in pictures showing where to click but even that place is hard to find.
No. of Assets and Expiry time 10/20
The total number of assets is only 58 which include 19 stocks, 12 currencies, 7 commodities and 20 indices. Having been in the business since 2010, it sucks that there are only 58 assets. The expiries are typical SpotOptions with many varieties from short term up to hourly, monthly and yearly.
Commissions, Support and Effective return 5/20
Bloombex don’t charge any fees or commissions from traders when they first deposit or purchase options. Withdrawals are charged with at least 1% to 5% of all fees, depend on which withdrawal method is chosen. All withdrawals have a minimum of 100$. Bloombex support is only supported via email or fax number. Bloombex live chat is pretty mediocre; it took awhile to get a representative on line. The effective return is the average with a maximum of 75% In-The-Money. The Out-of-Money refund is between 1-10%.
Edit 2016 Jan. Regarding the support. The rudest and least helpful live chat support I have ever encountered! Even other scam brokers I have chatted with before have been nice and helpful. But Bloombex support felt like the person responding had a gun put to their head. “You should talk to your account manager about these kind of things” was the answer to how high bonuses were and what types of account that were offered. Disregarding that I don’t even have an account yet.
Regarding fees: your account is considered dormant if you have not made additional deposits, withdrawals, traded nor have open positions after two months. After the two month period, you will be charged a 25$/€ monthly fee.
Deposit, Payment and Bonus 9/20
A minimum deposit of $300 is required for Bloombex Options and the maximum per option is $2500, above average for minimum deposit but not much for max. The deposit methods which are accepted by this trading platform are PayPal, Money Bookers, Liberty Reserve, Credit or Debit Card and Wire Transfer as well. Withdrawals are generally available via the same methods with minimum fees applied. The bonuses quite vary from time to time and they are able to offer a 30% bonus on all their deposits. The minimum withdrawal is 100.
Website Extra’s 9/20
Nothing here. Even the “Daily Market Review” reads: “No entries” as in no content which is however understandable for a broker that should be considered closed.
Bloombex Options Rating 38/100