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Updated: Apr 6, 2020
1.837 · 24 REVIEWS
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BlueMaxCapital is a forex broker. Blue Max Capital offers the MT4 and MT Mobile forex trading top platform. offers over 35 forex currency pairs, bullions, commodities, energy, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Broker Details

Minimum Trade Size:0.01
Maximum Leverage:400:1
Minimum to Open Live:$1,000
Address:1st Floor, First St.Vincent Bank Ltd Building, James Street, Kingstown, Saint Vincent And Grenadines, +1 646 432 1500
Regional offices:
Prohibited countries:Unknown
Trading platforms:MT4
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Cryptocurrencies:(4) Bitcoin, Litecoin, Ethereum
CFD:(5+) Gold, Silver, Stock Indexes, Oil
EAs/Robots: Yes
News Spike Trading: Yes
Deposit Methods:Bank Wire, VISA, MasterCard, Bitcoin, Ether/Ethereum, Neteller, Skrill
Withdrawal Methods:Bank Wire, VISA, MasterCard, Bitcoin, Ether/Ethereum, Neteller, Skrill

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1.837 · 24 REVIEWS
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Consumer Reviews

Melbourne, Australia,
Mar 30, 2020,
Registered user

PAMM Account Hacked - Further Information

Service use: Live

Length of use: 3-6 Months

In Nov 2019 I made one of the early reports that Bluemax Capital had been hacked and all funds had been lost. At the time I was prepared to accept their claim that this hacking had been caused by some unknown third party. After a considerable amount of investigation by a small number of affected BlueMax investors based in Australia, we no longer believe this or any related claims to be true. The evidence supports the many reports from others that these funds were simply stolen by the directors of the company and a range of false stories about returning funds etc were made up by the these people to mislead investors and delay any action.
The matter has been reported to various regulators but there seems to very little likelihood that any action will be taken by any of them even though there are a number of other significant legal irregularities that have since been discovered and reported.
If you were a PAMM investor with Bluemax who lost money in this alleged hacking and would like further information about what this group of Australian investors are currently doing you are welcome to send an email to info at bluemaxhacked dot org
Tim Wilson

Nov 2, 2019 - 4 Stars On the 5th Oct 2019 I reported a problem with BlueMax Capital (BMC) when all our PAMM investment funds disappeared. This report is an update on the situation.

As reported in my previous posting, all the BMC PAMM accounts were hacked and drained almost completely of funds. This, together with quite a bit of other information, has since been confirmed by BMC to all PAMM investment account holders.

I have received independent legal advice that since the money was technically stolen, BMC are not liable for the losses. They appear however to be working hard to try to resolve the matter and make restitution. Current investors have been offered options to either continue trading or systematically withdraw their funds over time.

The hacking appears to have been initiated by "People In High Places" who were unhappy with BMC's business model which allowed PAMM investors to legally make significant and consistent profits trading in the Forex markets. This contrasts to the common 90-90-90 business model subscribed to by the vast majority of Forex brokers. The 90-90-90 rule implies that about 90% of clients will lose 90% of their money within 90 days.

We are advised that authorities are currently investigating. Hopefully this will lead to the arrest and prosecution of those responsible for this crime .

I have been in contact with a number of people who had money invested in BMC PAMM accounts. All were connected through a couple of Melbourne based organisations. My impression is that most of these people, while naturally upset at losing what was often substantial amounts of money, remain supportive of BMC's efforts. Most appear to have indicated their intention to continue trading with BMC and are hopeful of recovering all their funds in due course.

BMC communicated with all fund holders immediately after the theft was discovered. Their initial communications were rather terse while they were struggling to deal with the situation. Over time more detailed information was made available. There is nothing in any BMC activity or communication to suggest that they have been underhanded or dishonest in any way.

BMC is not currently accepting new PAMM clients or funds. A message to this affect appears on their website.

Existing PAMM clients should regularly check the notices section of their account for new information.

Apart from being an ordinary PAMM client of BMC I have no other connection or affiliation with them. This is an honest and accurate account of what I know to date. It is posted here for the benefit of any other BMC PAMM clients or anyone interested in knowing what actually happened.

Oct 5, 2019 - No Rating Yesterday I submitted a report on BlueMax capital. We discovered that all our funds had disappeared and I thought at first that we had been scammed. After looking at the matter in more detail, it now appears that their PAMM trader accounts were hacked and used to trade away most or all of the funds.

The hackers appear to have opened positions on currency pairs with relatively large spreads such as GBPSGD and then closed these positions after about 30 seconds. This then incurred a loss that approximated the spread amount for each trade. Based on the trading records there were approximately 100 trades executed on one account and 120 on the other. The attack on each account started at different times but both attacks occurred on Thu 3rd Oct during the early part of the London session.

BlueMax have advised that they are working on resolving the problem.

Please do not publish my original report as it could unfairly affect the reputation of this broker.

Oct 4, 2019 - 1 Star The following message was received today from BlueMax Capital
Dear Sir,

We are extremely sorry to inform you that our system was hacked yesterday and PAMM Manager account was wiped off because of abnormal and high lot size placing of trades hence your account also got wash out.

It is a very big loss for us too.

We are seriously working to report to cyber crime regarding this and will take necessary steps for the security tightening.

Kindly give 2 to 3 days so that we will update you on how and when we will recover the loss made in your account due to this.

We request all the traders and Investors to make full withdrawal of pending amount in any.

Need your kind cooperation in this hard time.

This appears to be a major scam. What they are claiming has happened seems highly improbable,
My partner and I had approx $US10,000 in 2 PAMM managed trading accounts. Both accounts now have a balance of just a few dollars so virtually all the money has gone. We know of 15 other people affected in this way.
Trichy, India,
Mar 9, 2020,
Registered user


Service use: Live

Length of use: 3-6 Months

My PAMM A/c No 102509 and 103197, I had invested $5000 in A/c 102509 & $1500 in A/c 103197. . I joined in May 2019 They convince me,They said investment monthly 3 to 5% returns. In 18 months your investment will get double. They shown the past records of 6 year from 2009 in their web site.
In didn't withdraw single penny from till Oct 2019
On 3rd Sep 2019 i got a trade statement all my investment vanished due cyber attack. Now I dint get any reply from their end, all office and service in India had closed. They escaped from India.
Please be aware don't invest in Blue max. They are cheater...
chennai, India,
Jan 8, 2020,

Bluemax Capital SCAM DETAILS

Service use: Live

Length of use: over 1 Year

Guys, i will explain clearly about forex companies in india in detail below before that

Bluemax capital is run by 3 people their names are given below with DIN


this company was founded in 2014 , before bluemax capitals MR.ARAVINTH has run another forex company and he has looted huge funds and then only he started BLUEMAX CAPITALS with that fund

He is from tirunelveli(TAMILNADU).

Every forex broker in india is a scam
they have a very clear vission on how to scam people in the name "FOREX trading"
every forex trading companies in india are based on PONZI SCHEME model
and if they have achieved a target(certain crores ) then they will close the company and fly off
and to clients they would say accounts has been closed due to server issue or closed due to server hack or any other silly reasons and they wont return the money back to clients .

This is the reason why government SEBI,RBI is not supporting forex in INDIA

In the past 2 years many forex comapanies has cheated many people in india all over the states.


PLS dont fall into prey , if you have invested in BLUEMAX i request you
Please go to tirunelveli commisioner office and give a complaint as a group(form a group of investors) and only then action will be taken against them or else you will never get your money back by these people

I Request you people to do this steps as soon as possible .

  2 traders have found this review helpful
Triunelveli, India,
Dec 16, 2019,

Bluemax capital company should refund atleast the principle amount

Service use: Other

Length of use: over 1 Year

I am from tirunelveli .Bluemax company have sended final settlement application form. Like others i filled up the form and sended to legal firm mail id. In one month principle amount will be settled announced. Let see will they settle or will face jail aravind (GM) and satham manager is fully responsible.

Nov 21, 2019 - 1 Star Bluemax capital said that amount has been hacked by hacker. What a silly reply. Then your server is not fully under tight security . If amount not refunded by bluemax capital, sure will give complaint to cyber police . Bluemax team will face to police and Court. No other choice .
  2 traders have found this review helpful
Chennai, India,
Dec 2, 2019,


Service use: Live

Length of use: Have not used

Investors amount were wiped out by this company. This company branches are closed now without intimation to investors.Please don't invest this kind of companies.Its cheating business and they promised to all customers trading start from Nov'2019. But its false news and when i visited branch, its closed completely. Its hard end money and totally loss with out gain.
  4 traders have found this review helpful
Narayan singh,
Pune, India,
Nov 28, 2019,

Scam Scam Scam

Service use: Live

Length of use: 6-12 Months

I invested 10000 us dollars, now they are saying simply we are going to close Blue max completely with silly reasons. They make every customer fools. Guys don't leave these fraud management and employees. Every one share contact numbers and will file case together.
  2 traders have found this review helpful
Bangalore, India,
Nov 19, 2019,
Registered user

BlueMax has been closed permanently

Service use: Live

Length of use: over 1 Year

Here is the response from the support team whic i got on 19/11/2019.

Dear Sir,

Received the details. will update you in this week on the refund status as BlueMax has been closed permanently

Thank you.

Warm Regards,

Support Team.
  2 traders have found this review helpful
Telangana, India,
Nov 17, 2019,
Registered user

blue max is scam company

Service use: Live

Length of use: 0-3 Months

i have only 2 trades open and i have closed with profit when close it got error but order or closed in profit it was not showing in my history or in open positions the i send a query to support but they said it was not closed and it reached margin call and closed with negative balance and my account got 0 who is responsible for this

when error message comes if i see my orders in open positions atleast i would have closed with some losses but it was not shown
Germany, Germany,
Nov 16, 2019,
Registered user


Service use: Live

Hi , i have been using the PAMM services for since Feb 2018 and till Oct 2019 it was going good. However since then according to them it has been wiped out and they said they are expected to to start trading again from Nov 1 , 2019 .. however they have still not started trading and the contact person have switched off their mobile phone and no one is responding when you write to the support ..
Does anyone has an update ?
  1 trader has found this review helpful
Chennai, India,
Nov 15, 2019,
Registered user

No response

Service use: Live

Length of use: 6-12 Months

After the hack alert, Bluemax promised that they will refund the money or continue trading. It's been 45 days and no response or updates from Bluemax. Is anyone heard or have a contact with a direct person? No response on their support number
  2 traders have found this review helpful