WikiFX Review: Is it OK to invest in BlueMax Capital?

About BlueMax Capital

BlueMax Capital is an online forex broker offering a series of financial instruments to its clients, including forex currency pairs. According to WikiFX, BlueMax Capital is registered and regulated in Saint Vincent and the Grenadines. Saint Vincent and the Grenadines is an attractive place for financial companies to operate through an offshore company. there is no sharp regulation or overseeing of the company operation implemented. The SVG broker can run its activity and accept forex payments through credit cards but is not overseen.

Account Types & Minimum Deposit

BlueMax Capital offers 4 different types of accounts for traders to choose from. They are Prime Account, Standard Account, Lite Account, and Explorer Account.

Leverage

The maximum trading leverage is 1:400 for the Explorer and Lite accounts, 1:200 for the Standard account, and 1:50 for the Prime account. All four accounts have a base currency of USD.

Spreads & Commissions

The maximum spread of the Explorer account on the BlueMax platform starts from 1.2 pips, and there are no trading commissions on Forex. The spread on the Lite account starts at 1.2 pips, and the trading commission is 3.5 USD per lot (per side). The spread on the Standard account starts at 0.2 pips, and the trading commission is 3 USD per lot, and the spread on the Prime account starts at 0.2 pips, and the trading commission is 2 USD per lot.

Trading Platform

BlueMax Capital uses MT4 and MT5 as its main trading platform.

Regulation: Is BlueMax Capital legit？

No, BlueMax Capital is not a regulated broker. Its official website does not indicate that it is subject to any active regulation. WikiFX has marked it as “ No License”. WikiFX has given this broker a low score of 1.87/10.

Exposures related to this broker on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

Conclusion

BlueMax Capital is an unregulated broker with a low WikiFX score. We dont advise you to invest in this broker as it may take away your assets fraudulently. It is not easy to find a good broker. WikiFX contains details of more than 36,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link below (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.