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BlueMax Capital Review - Is it scam or safe?

BlueMax Capital Review - is bluemaxcapital.com scam or good forex broker?

RATING: 2.2 / 4 REVIEWS BlueMax Capital
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Trading Accounts & Conditions

 

Account type  Minimum deposit Minimum trade size Maximum leverage Spreads  (& Commission)
Explorer $1 000 0.01 1:400 From 1.5 pips
Standard $10 000 0.01 1:200 From 0.9 pips
Advanced $50 000 0.1 1:100 From 0.4 pips + $3 per Lot
Prime $200 000 1 1:50 From 0 pips + $2 per Lot

 

BlueMax Capital offers several trading account types, deepening on the client’s initial deposit. All of them offer floating spread, which vary by account type.  Micro lots are available for trade on Explorer and Standard accounts. Besides, the brokerage offers advanced PAMM solutions, which allow distribution of trades from a single account to a group of sub accounts.

 

What bothers us with regards to BlueMax Capital’s offering is that in order to access competitive spreads, one has to invest at least $10 000.  The variable spreads on Explorer accounts start at 1.5 pips on EUR/USD, which is above the average for the FX market.

 

By comparison, by investing just $300 you can open a cTrader (ECN) account with CySEC-regulated Fibo Group and trade with average spreads amounting to 0.2 pips on EUR/USD, involving a commission of $6 per lot round turn, instead of investing thousands of dollars in an offshore brokerage.

 

For further information, you may look up the real-time spreads of 15 leading brokers here.

 

The Company. Security of Funds

 

Company

Country

Regulation

BlueMax CapitalGlobal Ltd.

Belize

IFSC

 

BlueMax Capital is an international broker that operates from its offices in Belize, Hong Kong and UK. It provides online trading in forex, CFDs on commodities and precious metals on the most popular forex trading platform, MetaTrader 4.

 

The company behind the brand, BlueMax CapitalGlobal Ltd., is licensed by the International Financial Services Commission (IFSC) of Belize as a provider for brokerage/consultancy/advisory services (List H).

 

IFSC-licensed companies are required to have a minimum of $500,000 net tangible assets and to keep client funds in segregated accounts.

 

Despite providing a regulated status, the IFSC has very liberal control over forex brokers. Its supervision focuses on promulgation of regulation and a binding code of conduct. Little attention is paid to compliance-checking, reporting and on-going supervision. So, keep that in mind if you intend to invest in a Belize-registered broker. Also, the chances to recover your funds in case of a fraud or bankruptcy are close to zero. 

 

We would like to note that BlueMax Capital does not seem like a typical offshore scam brokerage – it does not offer any bonuses to attract clients (and urge them trade in large volumes with great risk exposure in order to be able to withdraw them), and it has a 4-star rating at the Forex Peace Army forum.

 

Trading Platforms

 

BlueMax Capital offers its clients the leading MetaTrader 4 (MT4), available as desktop, web and mobile versions.

 

MT4 is easy to use and offers a number of technical indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades.

 

Besides, there is a Multi-Account Manager Application embedded within the MT4 terminal. This solution allows a trader to manage simultaneously unlimited quantity of managed accounts from a single MT4 client terminal application.

 

Methods of Payment

 

BlueMax Capital offers its clients the following payment modes: bank wire, credit/debit cards, Skrill, Neteller and cryptocurrencies (BTC and ETH). Withdrawals take up to one business day (2 for bank wire transfers). MaxWallet innovative payment processor 

 

Keep in mind that certain transaction fees apply.

 

Conclusion

 

BlueMax Capital is an offshore forex broker that has pretty good reputation, however Its offerings do’t seem very attractive. Its minimum initial deposit is high and in order to get competitive spreads, one has to invest even more. Here are, in a nutshell, the advantages and disadvantages of this broker:

 

Pros   Cons
ECN environment available Light touch regulation
High leverage levels offered  High minimum initial deposit required
MT4 available  Wide spreads on Explorer account
  No Choice of trading platforms

              

Latest news about BlueMax Capital
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Traders` reviews for BlueMax Capital

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

 

 

Reply from BlueMax Capital

Hello Yakshapriya,

Hope our BlueMax Representative made you aware of it. Practically it is impossible to give you returns of 10 to 15% weekly. Someone else have traded on behalf of you and gave wrong commitment but you mistakenly understood our company is responsible for that. We in BlueMax as a brokerage firm do not give such commitments. Hope now you got aware of it and kindly dont fall pray to this kind of false commitments in future.

BlueMax Capital 12/05/2018

How to withdraw amount from bluemax account???

Dear friends,

I am M.Mutuhraj, Tirunelveli, Tamilnadu. I want to start investment in bluemax account with fund manager { minmum deposit (1000 USD ) }.

1. Is it safe or scam ???
2. If any situation can I withdraw my amount without any approval from
bluemax??
3. Bluemax capital , Tirunelveli office confirm me (3% to 5%) profit monthly , Is it true ??

For kind request , Please share your experience and answer my question ..

Muthuraj 12/03/2018

Fraud

Hi,

I was invested $300 in the month of January'18 and I got profit in the month of February'18. After that i did not received any profit till today. My current balance is $49 only.

I keep talk with you representative manager, i am getting same update. market is up no issue, i will see profit within month. Totally i am frustrated about your service. when i invested in your company, got assurance i will get weekly 10-15% profit. Now, i lost money because of worst service.

I need better solutions to fix issue ASAP. I return my money $300......

Very Bad company.

yakshapriya 10/18/2018

False Promises

The Bluemax has highly unprofessional traders and does not have the sensitivity of clients hard-earned money. They will never accept their mistakes and in turn will just say sorry to have lost your money. There should be a penalty imposed to the traders if they make false analysis.

Never invest in this company, it will be a full wastage of time and money. Me and my 3 friends lost their money because they do not know what trading is.

Nisha Singh 01/13/2018
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