Textbook scammers can often set up completely misleading website presentations and market their services as those provided by internationally recognized brokerage giants. The fraudsters running the scheme described in the following BlueStarsFX review want you to believe they provide a “secure and transparent trading environment”.
However, no license supports their claims and all of their blabbing is just self-glorifying to help the sham run smoother.
Based only on the website information, it cannot be determined where this company’s leaders reside or what their legal details are. That’s one immediate red flag that you cannot ignore.
Seeing how the company uses AnyDesk remote access software, they are also after the data on your computer, which can include credit card information.
Recovery of the lost funds is possible, but is a difficult process that requires expert help. Book a free consultation with our professionals in order to start your chargeback.
The name of the platform would imply that the firm itself has designed their own proprietary app that is exclusively in usage only on their site. Too bad it isn’t available in any other form except the screenshots posted on the site.
Even after joining and gaining access to the client area, we had no way of previewing or testing the platform. Judging from the pictures of it posted on the site though, that was no loss, considering that it appears no different from any other manipulated and overly simplified web terminal.
Due to the inability to get familiar with the trading software, we cannot neither deny or confirm the presence of the instruments advertised. After all, the market prices tracking widget is just imported from the Trading View, and anyone can do that on their site.
A common promise fraudsters make when it comes to packages is that they just want to make their offers as diverse as possible so any trader’s needs are met.
That’s pure rubbish, considering that these packages are absolutely overpriced and offer the conditions found with a majority of trading scams. Some of these promised services are personal advisors, bonuses and high leverage. Do the fictitious services justify the costs? You be the judge:
Leverage is one of the basic trading parameters that are strictly limited in the EEA (1:30). However, this false trading host will offer you a ratio of up to 1:200, as much as unregulated offshore schemes are free to offer.
All packages allegedly feature the same spreads from 0.7 pips on EUR/USD. That is hard to believe, as well, especially because no trading commission is revealed.
Fees involved with withdrawals range from 20$ to 50$ depending on the transfer method. Additional 10% levy is deducted in case you haven’t performed at least 200 trades. Lastly, dormant accounts are charged with 10% on a monthly basis.
More expensive feature bundles bring bonuses from 20% to 50%, which are treated as non-deposited funds. These cash rewards are not available for withdrawing unless you meet the minimum trading volume. In this concrete case, that amount equals to 30 times the deposit amount plus the bonus issued.
In order to provide the best possible environment for their investors, regulated firms include different education courses. This platform does the same, in an effort to seem legitimate and hide their true intentions.
In reality the provided education courses are nothing more than a couple of YouTube videos that greatly downplay the actual risks involved with trading on online markets. Whoever takes these videos seriously is more likely to lose their money on the actual market than to earn any.
We’ve already explained how costly it can be when attempting to withdraw your profits from this platform. Not only is the procedure shady, methods not clearly explained and time undefined, but there’s also a minimum withdrawal amount of 250$.
One major discrepancy exists when it comes to the methods allowed. While the legal docs claim to allow wire transfers, the client area only advertises crypto coins for payments. Heavy AML standards breach!
Unfortunately, there aren’t any pros to dealing with this firm. Everything that you see on the site is just another layer of lies, carefully tailored to make you believe you’re earning something, but the result is quite the opposite. It’s a total con intended to squeeze the last penny out of your wallet.
If you’ve lost money to this, or any other fraudulent scheme, feel free to contact our legal team. We are available 24/7 via the live chat, and our first consultation session is free of charge. Get in touch today, and start fighting back for your money!
It is a fraudulent platform that mimics the appearance of a forex broker to entrap victims.
No, the company is completely illicit, and does not have any license to provide their service.
Yes, recovery is possible! Contact our expert team via the live chat in order to start your chargeback.
The post BlueStarsFX Review – Trap Laid Out For Forex Newcomers appeared first on Global Fraud Protection.