BL Finance Advisors: customer reviews on working in 2023

Scam Schemes: Newbie Scam

From the experience of compiling reviews, it becomes clear that scammers often direct their tricks towards inexperienced investors who lack financial literacy. If experienced traders are difficult to deceive, “Pinocchios” fall into the networks of scammers. BL Finance Advisors, judging by reviews, has left many naive investors without funds. Let’s consider what tricks fraudsters use.

Platform Review

According to information on the website blglobaladvisors.com, our hero has been providing financial services to private and corporate investors since 2005. Criminals seek to convince potential clients of their reliability and experience. However, upon closer inspection, this information turns out to be false. According to the Whois database, the domain was created only in 2017, which does not match BL Finance Advisors’ claims. The domain was updated in October 2022, and presumably, it was then that the scammers started their activities.

According to the presentation, the company’s founder is a person named William Bachl. There is a welcome letter from him on the website, but we have no information about his face or profiles on social networks. This raises suspicions: why would the real leader of a brokerage firm hide their identity? Apparently, the scammers invented this person, as there is no objective information about him online.

According to BL Finance Advisors’ statements, their main office is located in the UK. However, they did not provide a link to registration in Companies House. We decided to check this information and found that there is no information about this company in the British registry.

Additionally, BL Finance Advisors states the presence of an office in the Russian Federation. We used the Unified State Register of Legal Entities for checking information about local legal entities and found that there is no information about this company.

At the bottom of the page, there is a link to the license presumably obtained by the scammers. According to their statement, the license was issued by the FCA, but this information raises doubts about the truthfulness of the scammers’ words. Reviews indicate that the British regulator has no dealings with scammers, so the FCA would not collaborate with BL Finance Advisors. Let’s carefully examine the presented data. Here are discrepancies indicating that fraudsters hide behind the data of another company:

• Registration of our review hero was not found in the UK, although BL Finance (NI) Limited can be found in the register of legal entities under a specific number in the FCA database.
• The email address provided on the website and in the database does not match.
• The license was issued in 2016, when the company did not yet exist.

The absence of BL Finance Advisors in the FCA register is the final blow to the lies about their activities.

The fraudulent website is available in Russian, and reviews about them can only be found on the Russian-speaking Internet. The conclusion is self-evident: scammers target traders from CIS countries. Neither the Central Bank of Russia nor the Association of Russian Stock Market Participants have any information about them. We recommend avoiding illegal companies to avoid losing all funds in a matter of days.

Terms of Cooperation

BL Finance Advisors target newcomers who have no experience in online trading. There is no information about the minimum deposit, swaps, leverage, and spreads, which would undoubtedly raise suspicions among experienced investors. Scammers promise their clients:

• Over 150 assets: stocks, currency pairs, bonds, and commodities.
• The opportunity to participate in initial public offerings of stocks.
• Individual approach to each client.
• Risk management.
• Transparent financial operations.
• Low commissions.

Reviews of Scammers

There are no positive reviews of the fraudulent project. Not a single trader has managed to recover their investments and make a profit.

Methods of Deception by BL Finance Advisors

According to reviews, scammers act very boldly. They demand the installation of the AnyDesk program, which gives them access to the client’s computer and trading account. With this program, they steal money without any explanation. When the client starts to worry, the scammers brush it off and accuse the client of making erroneous trading decisions. If a user tries to withdraw money, their account is blocked, and their personal data is transferred to other dummy brokers, allowing scammers to earn twice.

Conclusion

BL Finance Advisors is a typical financial scam created for money theft. If you are interested in online investments, it is better to choose another broker and stay away from these fraudsters!