BlueMax Capital Review
BlueMax Capital is an offshore forex broker with four trading accounts. All of the accounts require different initial investments and has floating variable spreads. The broker offers advance PAMM that allows segregation of an account into many sub-accounts. There are many concerns about this broker, and in this BlueMax Capital review, we will discuss them one by one. So, stay with us and read the full BlueMax Capital review here.
About BlueMax Capital:
The company behind BlueMax Capital is BlueMax Capital Global LTD, and its headquarter is situated in Belize. The other branches of this broker are in Hong Kong and the United Kingdom. The BlueMax Capital claims to hold registration from the International Financial Services Commission of Belize. IFSC has very little control over forex brokerage provider. It does not pay attention to compliances and does not perform regular audits. So, it is advisable to do a fact check before investing in Belize- registered brokers. There is zero chance of funds recovery in times of scam from such brokers.
The broker does not have any trading bonuses offered, and this makes BlueMax Capital odd man out from several other offshore brokers. Also, it does not charge any withdrawal fees. The most popular trading platform the MetaTrader is offered by BuleMax Capital. The MetaTrader is available on the desktop, web, and mobile platforms. MT is userfriendly, convenient to use platform with many advanced features like charting, auto trading, EA, and many more. It also allows multi-management of different accounts from a single terminal.
The payments at BlueMax Capital can be performed via different channels including cards, bank transfer, eWallets and crypto coins. The withdrawal takes only 48 hours. The minimum deposit required at this broker starts from $1000 to $200000. The floating spreads offered from 0 pips to 1.5 pips. Also, the leverages offered are 1:50 to 1:400. The provided trading conditions are at the higher side, and the overall cost of trading is more than traders generally expect.
Is BlueMax Capital scam or legit?
The forex broker BlueMax Capital registered under IFSC of Belize. The IFSC is reluctant towards compliances and audits, makes trading with this broker hard and insecure. The trading conditions increase the cost of trading many folds. Also, the initial investment is high. In a nutshell, the BluMax Capital is a potential Australian trading scam. There is very little chance of recovery of funds with this broker. So, the traders advised being away from BlueMax Capital for the safety of their funds.