Blufx Review : Hi, Friends Today, I am sharing much more exciting information on the topic of Review on Bluefx. Please move on to the article and; keeps reading it.
What is Blufx: Is it a scam company?
It is a support trading firm. It means their business model involves funding traders at a fee.
Blu FX claims that they are providing the traders with zero liability. No hiding cost at all. I doubt if this is the case.
They also claim Blu FX is the first original and pricing model trading platform. They were allowing the best traders to rise to the top in the Forex marketplace.
On the other side, we see that BluFX is trying to strike a healthy balance between a Forex broker’s operations. A traditional proprietary business firm.
At some point, it will need a license because they are offering a fully established business platform like any other broker out there.
They are offering MT4 software for download.
BluFX Review: A complete overview
Their website is professionally designed, but at the same time, their brokerage operations are never straightforward at first sight.
Yu Song is claimed that he has been backing the traders and coming up with a business platform. It minimizes costs; simultaneously, maximizing access to the actual business is the energy behind BluFX Ltd.
Read the companies terms and conditions, and I won’t see any truth in the above statement. TheirThey’re About us page discloses that their CEO is Yu Song.
Most of the company’s terms and conditions stating the following:
- Compensation is doing on a profit split basis; there, traders take 50% of the profit, only if there is a profit of 5%.
- Withdrawal requests can be made when the subscription is active. The account reaches the 5% profit target.
- In case of the refund, deduct any losses made during the subscription period from the trader’s subscription money.
- Only a maximum drawdown of 10% is allowed. Traders must stop trading if drawdown exceeding 10%.
These are the other several statements in their terms and conditions. It restricts the traders from having freedom. They will enjoy it if they opt for a usual MT4 broker.
The method of operation is also interesting, since their website stating that there are no expensive Training Costs, Complicated Exams, or Trials.
Students are required to signing up to starts a business to earn.
How BluFX works: The ultimate guide
Is it that easy to make a money business in the Forex market? The answer is Yes and No.
It is a Yes. Suppose one is trains and has enough experience to trade the market without suffering a significant drawdown.
On the other side, most traders of 95% lose all their money to trading. Because they are constantly falling into the traps of companies, it will claim the people. Those can make money trading the Forex market even with no experience.
We see the same pattern on the Blu FX website. The fact that they are opening their doors to incompetence means they are setting them up for losses.
It will claim that no Exams, Trials, or Hidden Costs are involved.
It automatically works against the financially highly developed. Those may believe that the simple act of paying the amount of €99 monthly will mean the profits are the guarantee.
They even claim that no deposits are needed. That is why a subscription to one of their packages will cost £249.
The subscription is paid out of the trader’s pockets. Until the payment is made, traders cannot use the specified fund accounts.
If they are seriously looking for potentially good business to share the profits, the service should cost nothing. That is how we know whether a prop trading firm is legal or not regarding recruiting the traders.
Why BluFX Ltd is a scam?
Generally speaking, the funded trading account concept is Fraud. Think about it:
One should pay £99 or £249 billed monthly to get funds to start the business.
One is a Non-Professional at this point so that one will kill the organization’s program account. Plus, lose the subscription money in the process.
Blu FX management is not a bunch of idiots to let one gamble their money on a real account.
If one is good at trading, one can grow any account regardless of the size of the deposit. On the other hand, poor traders that Blu FX Ltd is looking for will permanently lose the money whether they are trading an amount of £100 or a £100,000 account.
Therefore, if one is up to the game, how do you start with whatever one has and grow the account slowly?
One can fund the account with a fully regulated broker if this is the direction one wants to take.
Unrealistic trading conditions | Blufx review
Two subscription packs come with so many conditions that may limit traders in many ways.
For example, strategically using financial instruments is not allows; drawdown is restricted to 10%. Plus, the company Blu FX makes indefinite statements like an unauthorized pattern of trading, unauthorized trades, and unauthorized trading activity.
It is no clear definition of what unauthorized business means in the context.
Blu FX also retains earnings the right to terminate a trader’s account when they find an unauthorized trading pattern.
No one knows whether these excuses for opting down a trader’s account are authentic.
Also, it is unclear whether a trader will recover their original deposit. That they pay for the subscription if their account is terminated.
We also concern that despite BluFX offering brokerage services. Where they give used to MT4 trading software, nowhere did they mention their regulatory status.
It is not reassuring because trading with a broker. He is not regulated is not safe.
Since the website’s domain is blufx.co.uk, we believe a law courts system is in the United Kingdom. Whether in the case, they need to have a license from the FCA. That is the primary financial regulator in that jurisdiction.
BluFX is probably using the funds account business concept to outwit these regulatory requirements.
By simply looking at their website, one will think their primary business model is to fund traders. When one digs deeper, then one should realize that BluFX is also a Forex Broker.
The conclusion | Blufx review
Both the Professional and Amateur traders are likely to lose their money to BluFX. Because of how the fund trading business model will operate.
The owner of Blu FX knows that one cannot beat the casino. But they will be on the good side after the 14 day refund period has passed.
The business model approval the owner and not the trader, even if traders are using fund accounts to earns a living. They must be very few if anyone.
Thanks for reading BluFX review. I am looking forward to the comments.
Note: Will filter the Fraud comments promoting the fake fund recovery services.
So, it is vital information on the topic of Blufx review.
If Queries or Questions is persisting then, please comment on the viewpoints.
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