Important Clarification from Blue Trading Management in regards to Financial Commission / FCA Notice

bluetrading

BlueTrading Representative
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3
As part of our mission for transparency, it is important to clarify all matters with our clients.
In Fall 2018, our Financial Commission membership was ceased suddenly for no apparent reason citing generic "Terms and Conditions" violations. This being regardless of the fact we had zero client complaints ever with the Financial Commission over years of business.
Sadly, we have learned these types of practices are not unusual at all for the Financial Commission.

As one can see on their own website, they have more ceased members (31) as active members (22): https://financialcommission.org/members/participating-members-of-the-financial-commission/

In over three years, we have never denied a withdrawal request or had major issues with any clients. This was very sudden and we are still extremely puzzled to why they would behave so bizarrely so suddenly.

In reality however, we are actively lobbying global regulators to begin regulating Cryptocurrencies through the Crypto Valley Association in Switzerland. There is no substitute for real regulation and services like the Financial Commission only provide basic services.

Additionally, we are also aware of our entity being placed on the FCA "Unauthorised Firm" List along with thousands of other non-UK brokers, funds, and various worldwide financial firms.

As stated on our website, we are an Asian Cryptocurrency trading firm with no operations in the United Kingdom whatsoever.

Furthermore, the FCA does not even regulate Crypto trading. Therefore, it would be fundamentally impossible for both of those reasons for us to be regulated by the FCA.

The "Caution" listing as they call it is simply because we are not a British company and they have placed us on a list with thousands of other companies. Many of which like us, have zero complaints.

It is our position that both of these "warnings" are unjust but our client base is extremely fond of us and we will continue our business as this has not changed any of our practices.
If you have any questions, please contact us at info@bluetrading.com where we reply to emails 24 hours a day, Monday-Friday. Thank you.
 
The FCA makes it very clear that they do require registration for cryptocurrency futures, CFDs, and options.

https://www.fca.org.uk/news/statements/cryptocurrency-derivatives

Published: 06/04/2018 "It is firms’ responsibility to ensure that they have the appropriate authorisation and permission to carry on regulated activity. If your firm is not authorised by the FCA and is offering products or services requiring authorisation it is a criminal offence. Authorised firms offering these products without the appropriate permission may be subject to enforcement action."
 
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