de | cn | ru

BlueLexus Review - is it scam or safe?

BlueLexus Review - is bluelexus.com scam or good crypto CFD broker?

RATING: 1 / 14 REVIEWS BlueLexus
BlueLexus is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Minimum deposit Maximum leverage Spread
Basic       $250 1:200 $135 BTC/USD
Bronze   $1 000 1:200  
Silver      $2 500 1:200  
Gold       $10 000 1:200  
Platinum  $25 000 1:200  

 

BlueLexus is an unregulated broker that offers trading in cryptocurrency CFDs on a web-based trading platform. Its clients can choose from the 5 accounts listed above, however it is not clear whether the essential trading conditions, such as spreads and leverage, differ. It seems that the advanced account holders only higher welcome bonuses and some extra services such as 1-on-1 Trading trainer, Trading Signals and such.

 

 

BlueLexus Advantages

 

A lot of crypto CFDs

Clients of this broker are offered 40 coins in the form of CFDs, which is quite a long list. BlueLexus offers trading in Bitcoin, Bitcoin Gold, Das, Ripple, Ethereum, Ethereum Classic, Litecoin, OmiseGo, Monero, Zcash, USDT, and more. These are traded against each other, USD, EUR, and AUD.

 

Relatively nice trading platform

The web-based platform provided by BlueLexus can by no means be compared to MetaQuotes’ software (MT4 or MT5), but it still offers some advanced features. The charting is good, powered by TradingView, and there are mobile apps available. Here is a snapshot:

 

 Click on the image to zoom-in.

 

Many payment methods

This broker supports a lot of convenient methods, such as credit/debit cards, bank wire and numerous e-payment systems, including Neteller, Skrill, Web Money, Qiwi, Yandex, and AstroPay.

 

 

BlueLexus Disadvantages

 

Not regulated

According to the information on its website, BlueLexus is a trade mark of GG CAPITAL GROUP LTD., a company registered offshore, in Saint Vincent & the Grenadines (SVG). The website of the broker also mentions H.I. CAPITAL GROUP, a company based in Sofia, Bulgaria that operates another crypto broker – Bitcoin Giants.

 

as a CFD provider, H.I. CAPITAL GROUP should be registered with the Bulgarian Financial Supervision Commission (FSC), or a similar financial agency in another EU country, but they aren’t. The offshore company, on the other hand, is surely not licensed, nor regulated by any governmental agency. This is a major red flag and the main reason why we gave BlueLexus such a low rating.

 

High cost of trading

Most brokers, who offer Bitcoin CFDs provide a spread in the range of $30-$50 on BTC/USD. When we tested BlueLexus’ platform, we saw the spread for this pair was $135, which is way higher.

 

Charges on withdrawals
This is not a major flaw, yet we have to mention it. Withdrawal requests at BlueLexus handled within 7 business days, the minimum amount allowed being $100$. The broker’s clients are subjected to the following withdrawal fees:

 

Credit card – 4.8%, minimum fee $20, maximum fee $500;
Bitcoin – 4.8%, minimum fee $20, maximum fee $500 ;
Wire Transfer – 5%, minimum fee $50, maximum fee $2,500.

 

No forex pairs and CFDs on indices, commodities and stocks

Unlike a number of forex and CFD brokers, who added a number of crypto CFDs to their offering, which focuses on currency pairs, stocks, indices, and commodities, BlueLexus offers only CFD pairs with coins. One cannot trade EUR/USD or gold with this broker. In case you miss any of these assets, check out the link below:

 

 

>> Forex brokers offering Bitcoin CFDs <<

 

 

Dangerously high leverage levels

BlueLexus offers up to 1:200 in leverage, which is a very high ratio, given the volatile nature of cryptocurrencies. Most real crypto exchanges don’t support margin trading, while the majority of crypto CFD and forex brokers do, but the usual levels are 1:2 up to 1:10.

 

 

Conclusion

 

BlueLexus is an unregulated crypto-CFD broker. Although it offers trading in wide range of coins in different pairings and its platform is not bad, we don’t recommend dealing with it. The main reason is that it is not overseen by any governmental authority. On top of that, the broker offers leverage levels that we find too high, and the costs of trading don’t seem attractive either.

 

 

>> Trade Bitcoin with a well regulated broker <<

 

 

To sum up the above:

 

Pros Cons
A lot of crypto CFDs Not regulated
Relatively nice trading platform High cost of trading
Many payment methods Charges on withdrawals
  No forex pairs and CFDs on indices, commodities and stocks
  Dangerously high leverage levels

 

Latest news about BlueLexus
No news about BlueLexus . Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Hong Kong SFC MarketSpeed FX,
Trading Station
$1 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa, UAE CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website

Traders` reviews for BlueLexus

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

ripped off

I truly believe i have been ripped off.

Lad Kihi 01/17/2019

Gutted

Do not go there.
Constantly asking for extra money.
Told them over the phone I am going to close the account, same day made a trade and lost an extra $4500.
Lost nearly $10000 in approx 2 months

Jerrod Thomson 01/10/2019

Disappointed with BlueLexus

I opened an account with Blue lexus cautiously and with a bit scepticism.
In hindsight I did the right thing.

I wanted to try and confirm that all the functions worked and worked easil;y as they tell us. The first hassle was actually opening the account. It was ball achingly painful. Miracluously when I said "too hard, forget it", it was opend in a flash.

I then was contacted by Richard Green who I actually didn't mind dealing with even though he was quite condescending most of the time. My initial deposit was 250 euro which was converted to BitCoin. We made three small trades which were successful.

Then I wanted to make a small withdrawal to check that the process worked as explained. It was difficult and i had to ask twice, but the money did finally arrive in my bank account - not my credit card.

I then decided to go through the process again to be sure. I made a deposit with the assistance of Richard, and guess what! The money left my credit card in a flash and has never arrived into my Blue Lexus account.

I was assured by Richard that it hadn't left my credit card account and my bank enures me it has, and my balance supports that!

I then told Richard that I didn't have the confidence in the process to go any further so would like to close the account - This is the last I have heard from them. There is no number to call them on and my money is now stuck in a Blue Lexus account with no means of getting it back, despite me activating the withdrawal function.

My only saving grace is that I went in with the view it might fail and i have only lost about 600 euro.

On a 1 to 10 rating...I give them a big fat '0'.

Grabnt nicholson 29/12/2018

Grant Nicholson 12/28/2018

AVOID BlueLexus AT ALL COST - Will not let you withdraw a penny!

Don't listen to Blue Lexus support LIES, they won't let you withdraw a penny. They stole over £30,000 worth of my trading profits. They made up some cock & Bull story about FCA UK instructing them to suspend my account, when they're not even regulated by FCA. I have all the documents to prove it, & have since complained to the Police.

DO NOT OPEN AN ACCOUNT WITH BLUE LEXUS CHARLATANS

Hossein Tabatabai Yazdi

Hossein Tabatabai Yazdi 12/27/2018

To Mr. Noel Biggs

Dear Noel,

As already explained to you, we must follow the AML law. Therefore, we must send you the funds to the same credit card you have made your deposit with.
Once your bank will receive it, they will contact you and transfer the funds to your new account.

If, for any reason, the transaction will be reversed back to us, we will send it to another bank account you have.

You must understand one thing - WE HAVE SENT YOU THE FUNDS. Your money is not in your account with BlueLexus. If we were trying to "scam" you, we wouldn't have sent the funds. The only problem is that you have closed your bank account and therefore it will take a bit longer.

So please, don't try to hurt the good reputation that BlueLexus has, and to try to mislead people that are looking for a good company to invest.

We are always here to help, you can contact us at [email protected] or [email protected]

Sincerely,
BlueLexus Support Team

BlueLexus Support 12/26/2018

Dirty scammers!

We invested $250USD and was promised if we wanted to withdraw within 7 days we were able to no questions asked.

The very next day, we smelled a rat, and requested our money be returned.
After much going backwards and forwards they agreed to return the money, but we had since closed the account that we paid the money from.
They will not return our money to our new bank account.
These people are Dirty Scammers.
Do NOT Invest with them.

Noel Biggs 12/23/2018

BlueLexus Support

Dear Traders,

At Bluelexus, we have dedicated ourselves to the safety & security of our traders. We do understand that some customers are unsatisfied from time to time - just like any other business. However, we are always here to assist.

Most of the things written in this "review" are incorrect and you check it for yourselves.

Regarding the traders that have posted reviews here - please post your account number and we will assist you with everything you need. Or, you can just contact us at [email protected] - we will be happy to assist.

Sincerely,
BlueLexus Support Team

BlueLexus Support 12/21/2018

Bkuelexus is total scum

This company is total scum. Do not use them. I deposited money on promise I would make money in a few weeks.Lliars! Wish I had checked this site first. They delayed by saying they needed further credentials to verify account. Dan Sterling gave me his email details [email protected] He would ring at inconvenient times in the evening and leave a message. AFter checkling out further I realised they had scammed me of US equivalent of $250 aus which is $357.98

I refused to give my credit card details and gave bank details. I received some wierd Chinese emails shortly after and suspect this is a money laundering operation. I will report to ATO and also Fair Tarding and anyone els I can think of. They steal money DO NOT INVEST

Victoria Harris 12/18/2018

No follow up

Not sure but my gut tells me that I done money f*ck it can't trust anyone

Robert kolk 12/13/2018

Avoid BlueLexus at all cost - Will not let you withdraw a penny!

THESE GUYS ARE CHARLATANS, they pursue you aggressively (call you myriad times daily etc.) until you open an account & deposit money. You then start trading, & everything appears fine, UNTIL you want to WITHDRAW money! They give you a bonus (usually equal to amount you deposit), which at first seems excellent. But you're required to do 100 * (bonus + deposit) amount of trading, before withdrawing, which again seems fair enough. But every attempt at withdrawing money is met with some obstacle. I must've asked 100 times if I'd done enough trading to be able to withdraw. They never answer you. Then, when I was certain I'd done many more times the required trading, I submitted withdrawal request. They gave me every excuse in the book, from "haven't traded enough yet" to "it will take time to process" etc. etc. Finally, they made up some BS about my trades being "suspicious" due to lack of spreads for some trades. Like I had anything to do with spreads on their site! As previously stated, they're unregulated, but claimed FCA UK had ordered the suspension of my account!? Totally made up LIE, so they could steal my profits. They suspended my account, stole all my profits (over £30,000), & sent back my initial deposit, because they knew I'd get that back anyway, by putting those charges in dispute with my credit card company. Its a great business they've got going, if you lose your money, they'll accept it gratefully. But if you make a profit, they'll steal it anyway, they can't lose!? I will file an online fraud case with the Police soon.

AVOID THEM LIKE THE PLAGUE.

Hossein Tabatabai Yazdi 12/03/2018

Do not use BlueLexus

I was led to believe the platform was associated with Gina Rinehart after reading an article on social media. I signed up and deposited the minimum $250 to start trading on their recommended platform BlueLexus. After a few google searches about BlueLexus, I realised I had made a mistake.
I signed up with BlueLexus on the 18 Nov 2018, since that date, I have constantly requested for the helpline and also to my personalised BlueLexus accountant Amber Johnson to assist me selling my stock, withdrawl my money and close my account.

Till this date, I have not received a response from BlueLexus regarding my request, only a generic email stating I need to submit identification details to verify account. When I attempt to sell any of my stock, the platform does not allow me to as I need to submit identification details. I dont see the need to submit my identification details as I wish to not trade with the platform.

My experience with BlueLexus has been awful. Lacking customer service and they would attempt to contact you at unreasonable times such as 10pm. Contact me during business hours!! Not very professional!!

I have submitted a chargeback with my bank in hoping I can retrieve some if not all my money. Worst mistake ever.
DO NOT DEAL WITH BLUELEXUS!!

Julius 11/27/2018

cripto investments

as a old age pensioner i invested £150.00 and they kept asking for more money i refused and of as of a month ago they did not contact me at all i must be a fool for putting money into a company that i know was a scam thank you bastards

mr john foster 11/16/2018

Disgruntled trader

So they wouldn't accept my ID after 2 weeks I demanded my money back or I would contact European authorities and they said they will return my money ,
Let's wait and see

Andrew 11/02/2018

Rip off broker

Promised that they would match my deposit and help with trading none of this has happened and view as a complete loss

Alex Dafov 09/14/2018
de | cn | ru