Reliability is the main factor that you must consider when it comes to Forex trading. You can’t invest your hard-earned money into something without proper knowledge or guidance. Here’s where a Forex broker comes to your aid. Today, let’s take a look at the BlueMax Capital review to check if this FX brokerage firm is reliable and trustworthy.
The Forex Market also known as Currency market is a huge industry of its own. It’ a global trading spectrum where many international banks, Governments, Investors, Traders, Brokers, Companies, and several Organizations indulge in currency exchange at a global scale. Hence, it becomes important to have a reliable Forex broker to help you understand the market and make a good profit from your investment in Forex trading
About BlueMax Capital
Headquartered in Belize, BlueMax Capital is an established Currency Trading brokerage firm with its offices in Hong Kong and the UK. It is primarily known for its online trading services in Forex on one of the leading Forex trading platform, MetaTrader 4
BlueMax Capital is a registered company named BlueMax Global Ltd. The company is an official license holder to provide brokerage/consultancy/advisory services administered by the International Financial Services Commission (IFSC) of Belize.
Being an IFSC-licensed brokerage firm ensures the credibility of BlueMax Capital for online Forex traders. To be IFSC approved, a brokerage or consultancy firm must own a minimum of $500,000 in assets and is required to keep client funds in separate accounts.
While this may offer some confidence in the brokerage firm, you must know that IFSC simply focuses on the circulation of the regulation and a binding code of conduct. The commission itself neither pays full attention to the reporting nor does it keep full-time supervision.
Hence, you must be aware of the power IFSC holds when you are investing through a Belize-registered broker. In short, IFSC doesn’t have control or offer any guarantee in recovering your funds in case of a scam or the brokerage firm claims bankruptcy.
BlueMax Capital Review
Although BlueMax Capital is a Belize based Forex broker, there’s nothing to worry about this firm as it is a legit FX brokerage firm. Unlike the ongoing scams or frauds, it doesn’t offer any bonuses to deceive clients or push them to trade large funds. The trust factor of BlueMax Capital can be anticipated by the fact that it has a 4-star rating at the Fore Peace Army Forum.
Types of Accounts
Being a highly reputed and renowned Forex brokerage firm, BlueMax Capital attracts a lot of traders and companies of different kinds. Hence, it provides a series of different account type that the traders can use based on their spending budgets. You can start with a minimal $1000 with an Explorer account and level up to the maximum $200,000 as a prime member.
The brokerage firm provides a solution to everyone whether you are an individual trader, Institutional Hedge Fund Trader, Beginner in Forex Trading, Expert in FX trading, Daytrader, or a Long Term position trader. It also provides an advanced PAMM account service where investors and Fund managers can collaborate to grow their capital.
While you may explore the Forex trading environment with an investment as low as $1000, the competitive spreads open only when you upgrade to Standard account or above and invest a minimum of $10,000.
Well, if you simply wish to get firsthand experience in Forex trading then try cTrader (ECN) account with CySEC regulated Fibo Group by investing just $300 and get better spreads.
The Trading Platform
A trading platform is the most important asset for any online trader, especially in Forex trading. BlueMax Capital comes with MetaTrader 4 (MT4) which is one of the best trading platforms in the industry today. You can use MT4 online or as a desktop or mobile app.
With MetaTrader 4, you can perform an extensive backtesting and use a wide range of technical indicators to find the right investment opportunities. In simple words, MT4 helps you fully automate your trades as it also delivers an advanced charting package and get help from Expert Advisors.
Hedge fund managers can utilize the Multi-Account Manager application featured on the MT4 terminal to manage different accounts on a single terminal.
Anyone can become a trader but not everyone will gain success. To succeed in Forex trading, you require an extensive knowledge of the industry as well as years of experience in currency trading. Here’s where BlueMax Capital’s PAMM Management service comes to play.
PAMM offers a platform where individual traders or investors can join hands with fund managers. While the investors can take advantage of the fund manager’s expertise, the fund managers could offer their account management service to the traders.
You can check the performance of the fund managers through the PAMM system offered by BlueMax capital and choose the one to handle your trading account. As the Fund Managers handle multiple accounts, there are huge funds involved which increase the profit opportunities as all the funds are smartly invested in different Forex markets.
In short, even if one or two investments fail, there are several others which may still be profiting. Hence, utilizing the PAMM service, you get returns based on the overall performance
Diverse Funding Options
One of the main factors in online trading is the speed of transactions. You are always on your toes as the market changes rapidly and Forex market is no exception. Hence, you need better and multiple funding options so you can invest your funds quickly without any territorial or technical limitations.
BlueMax Capital offers multiple channels of payment methods that traders or fund managers can utilize. Multiple funding options offered by BlueMax Capital include Wire Transfer, Credit/Debit Cards, Skrill, Neteller, and other Local deposit and withdrawal options.
Based on the funding option you select, remember that there are always transactions fees involve. So, choose wisely.
Other excellent features of BlueMax Capital
Dedicated ECN Engine
BlueMax Capital comes with a dedicated ECN engine which connects various banks across the world to offer the best reliable spread all the time. The trades are often processed via advanced Data Centres spread throughout the globe at different locations resulting in the swift trading flow.
Different Trading Instruments
Forex trading is very simple if you can research and perform an in-depth analysis of each trade. BlueMax Capital understands this and hence offers a wide range of tools and trading instruments such as Fx Majors, Fx Minors, Fx Crosses, Fx Exotics, Metals, Bullions, Energy, and many more. These trading instruments can help you analyze the market well and decide whether the trade will be profitable or not.
BlueMax Capital is undoubtedly one of the leading Forex brokers around the globe with its presence in more than 20 countries. It provides the best Forex trading platform MT4 and serves its clients with value-added services.
However, there are few things that go against this top rated Forex brokerage firm. For one, you need to invest at least $10,000 to actually enjoy the competitive spreads in the Forex market. Although regulated by the IFSC Belize, the authority doesn’t have the full control or guarantees of any kinds of recovery regarding your funds and investment in the case of frauds or bankruptcy.
Nevertheless, BlueMax Capital has been serving its clients well over the years so the light touch regulation doesn’t matter as the brokerage firm has established itself as a trustworthy brand. Though it has the best trading platform in the industry, BlueMax Capital doesn’t offer any choices for trading platforms other than MT4
BlueMax Capital may not be the ideal Forex broker for a beginner. Yet, it is undoubtedly the perfect choice for long-term Forex traders and Hedge Fund managers looking forward to making lucrative returns. With its wide range of services such as a dedicated ECN environment and high leverage levels as well as the PAMM management service, it becomes the best bet to make money in currency trading.
Our Rating: 4/5