Broker Name– BluFX
Owned by– Blueprint Capital Ltd
Regulation – Non Regulated
Warnings– Review websites
BluFX is unregulated forex exchanging firm. Dissimilar to other comparative organizations, it requires no history or some type of testing or training. In this BluFX review, you will get to know about the activities done by blufx.co.uk.
Blueprint Capital Ltd is the firm behind BluFX, situated in the United Kingdom. That being the situation, they don’t guarantee associated with the UK’s regulatory Financial Conduct Authority. This promptly raises doubt, as managing an unregulated organization generally conveys counterparty risk. The expenses of exchanging with the BluFX are not uncovered by the organization. They just work with day exchanging, a marginally higher spread can significantly influence the primary concern of any dealer. Typically forex dealers offer spreads inside the scope of 1.0 – 1.5 pips for the EUR/USD pair.
Possible scam activities of scam broker BluFX
- The broker may have made a number of false claims through its website.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The BluFX makes continuous calls to the traders and urge them to invest higher and higher amounts.
- The broker promises return which are too good to be true.
- The risk warnings may not be disclosed on their webpage or that would be hidden.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are haven for the scam brokers.
- BluFX provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals and ultimately you are not able to make withdrawal.
- Broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes name and website URL without any notice to existing traders.
Negative BluFX Reviews and Complaints
BluFX has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed BluFX in the list of scam brokers 2021.
Is BluFX scam or legit broker?
ReportScam does not recommend traders to trade with BluFX and your funds may not be safe with this broker. Instead look for regulated and reputed brokers who can really help in growing your investments.