Max Gains Blue Fx review – 5 things you should know about maxgainsbluefx.com

Beware! Max Gains Blue Fx is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Max Gains Blue Fx is a rather poor attempt by a scam website to pose as a trustworthy investment intermediary. Max Gains Blue Fx can only be useful in one capacity – as a graphic example of what a fake broker looks like. Let’s take a detailed look at why you should under no circumstances trust Max Gains Blue Fx with your money and how you could choose a suitable forex broker.

Max Gains Blue Fx Regulation and safety of funds

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.

Max Gains Blue Fx does not name a company and does not provide access to Terms and Conditions or Client Agreement.

This anonymity means that Max Gains Blue Fx is lying by claiming to be based in the United Kingdom and holding licences from financial regulators in the United States, Cyprus and Belize.

A check of the databases of the relevant regulators confirms that there is no authorised broker by that name. The UK’s Financial Conduct Authority (FCA), specifically warns that Max Gains Blue Fx is a fraud:

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the FCA, Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

Max Gains Blue Fx Trading software

On the homepage of the web site we see images of trading platforms, but after registering an account we find that Max Gains Blue Fx does not have any trading software. This supposed broker does not actually have the technical capacity to facilitate trading in financial instruments.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Max Gains Blue Fx Trading instruments

Max Gains Blue Fx  advertises forex, cryptocurrency and binary options trading. Binary options trading is banned in the EU and the UK and heavily restricted in the US. Therefore, these allegations constitute further evidence that Max Gains Blue Fx  is not the regulated broker it purports to be.

Max Gains Blue Fx Spreads and cost of trading

Genuine forex brokers provide detailed information about the trading conditions. Legitimate companies also offer different account types to suit clients with different experience, capital and investment intentions. We do not find any information on trading parameters on the Max Gains Blue Fx website.

Max Gains Blue Fx Maximum leverage

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Max Gains Blue Fx Deposit and withdrawal methods

Quite expectedly, Max Gains Blue Fx  only allows the deposit of funds via cryptocurrencies.

This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Max Gains Blue Fx Minimum deposit

Max Gains Blue Fx does not specify a minimum deposit amount. But you should know that established brands offer beginner traders starter accounts with a very low entry threshold.

Max Gains Blue Fx Withdrawal requirements

Since Max Gains Blue Fx does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.