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Is BlueMax Capital a scam broker?
The BLUEMAX CAPITAL is an offshore brokerage company that offers four types of trade accounts. The unique thing of this broker is it offers PAMM feature. The main objective of this PAMM is to provide sub-accounts. let us discuss what else this broker has to offer.
About BLUEMAX CAPITAL:
The four accounts are Explorer, Standard, Advanced, and Prime. The minimum deposit starts from $1000 and stretches up to $200000. The minimum trade size varies according to the different account types. The trade size offered is 0.01, 0.1, and 1. The heartbreaking fact about BLUEMAX CAPITAL is it offers competitive spreads on higher trading accounts with a minimum deposit of $10000. The generous spreads are not offered by this broker.
The broker is owned and operated by BLUEMAX CAPITAL GLOBAL LTD situated in Belize. It also has offices in other countries like the UK and Hongkong. The broker is claimed to be authorized by the International Financial Services Commission. Being regulated by IFSC gives some sort of confidence in this broker. Eventually, IFSC is very liberal in terms of supervision and checking of compliance. This means there is no guarantee of the security of the trader’s funds. The BLUEMAX CAPITAL does not offer any bonuses to the traders. It also does not forces its customers to trade in large volumes. The traders of BLUEMAX CAPITAL can avail of the prime MetaTrader platform. This gives the broker an extra edge. This broker also features a Multi-Account Manager App associated with the MetaTrader. The payment channels provided are all credit and debit cards, bank wire transfer, Neteller, Skrill, and also bitcoins. There are withdrawal charges associated but the process is completed within 24 hours. There are several positive feedbacks and comments about the BLUEMAX CAPITAL available throughout the internet. It also provides an Electronic Communication Network this helps to keep transparency in trading.
Is BLUEMAX CAPITAL scam or legit?
The BLUEMAX CAPITAL looks legit and licensed. It offers a variety of features to its customers. Payment and withdrawal are fast. But the offshore nature of BLUEMAX CAPITAL is worrisome. Besides its good reputation in the trading market, its offers are unattractive. Being a genuine reviewer we can advise you to always trade with reputed and licensed brokers. There are very few signs to conclude this as a scam broker. But trader must consider all the aspects before pouring in their hard earn money to the brokers like BLUEMAX CAPITAL.