BlueTrading has posted a response to the Financial Commission's action. CLICK HERE to view or add your own response.
Website is down. Company seems to be out of business.
5 Stars for Best Scam Ever -
Scammers they have stolen all my money
Russian people hidden behind brilliant English names have emptied all customers' accounts.
Blue Trading is a Ponzi scam
They have run off with everyone's money they should be made liable I am one of those unfortunate people who lost 15k
Feb 9, 2019 - 5 Stars I joined up January this year I am very happy to report they are a legitimate team, I am very happy with my returns so far five stars to them!
Surprise! Surprise!.... NOT
Oct 23, 2018 - No Rating Having gone through so many managed fund website in my quest to differentiate what is a real managed fund and what is a potential scam, here's what I can share with everyone looking to invest with Bluetrading.
What I found out is a managed fund DO NOT hold an investor's fund. As such why Bluetrading insist on ppl deposit money with them is suspicious.
Take for example UK-based, registered and licensed Hartswell Capital Management and Brookestone Management or Dubai's SCG (Success Capital Group), these companies will link investors with a FCA or some other regulated Forex Broker like SwissQuote, FXCM, Hotforex etc (that, by law, must segregate investors fund from theirs).
Investors are then advised to open an account with these brokers and sign a limited power of Attorney LPOA agreement that gives these fund managers the right to trade with their money.
These Managed fund companies need not be regulated by FCA or others themselves but the forex broker they use must (as that is where investors' funds are). These are the same as when we use PAMM, MAM accounts with regular forex broker. The traders we choose to trade with our fund have no way of accessing our account directly.
If I am wrong pls enlighten me.
It looked too good to be true
I even had referral accounts and was making earnings from them. Luckily I advised them as well to withdraw their investments and no losses occurred. Imagine - having refereed to friend who then loose their money, what a disaster.
What made me suspicious and triggered my investment withdrawal was
- changing contact persons
- pdf account statement inconsistent with web-page, but changing and adapting all the time (just something that would not happen in a real account).
- no real company address (company unknown in the building)
- audit by some company in Africa
- bank deposit to some strange company in Germany, with the house blanked in google streetview
- bank withdrawals payout from changing sources
- withdrawal requests via email (why not implement this in a password protected area in mirror trader as other platforms do)
- mirror trader web page - why was there the bloomberg channel, a trading chart etc. All this makes absolutely no sense for mirror trading.
- company existed apparently since 2012, started trading 2015, but the domain was only set up much later
I admit that many of the above mentioned was already there in the beginning, but the high gains can make one blind. There was always a bit of hope and they also appeared to work on improving the platform etc., yet I always said to my friends, "let's see how long they will still be there". And even now that they went away with the remaining funds, one could still have a bit of doubt and believe that it is true, it was just a software error. But seeing it from some distance - it was a scam.
The reason I write this here is to warn you all including myself for the future - lesson learned: If a company has no real address, no real audit, no regulation, but just invented awards and performance that is higher than anything else, be even more suspicious and do not invest at all, unless you can afford to loose the money! Bluetrading writes that they will come back with a different company name - be warned, they will do the same thing again...
Oct 27, 2018 - 4 Stars Hi, I am an investor with bluetrading since March 2018. I was very skeptic in the beginning, made only the minimum required deposit and was constantly checking on the account. After two months I made a withdrawal just for testing. It has been promptly executed. I then decided to deposit more funds and take the account to VIP level. The performance I see on my account matches the results published on their webpage. The account value tripled by now, and I still leave my initial deposit with them. Because the trade sizes also grow with account balance, one can expect an exponential growth if the performance of BT remains good.
My periodicity of checking the account reduced from daily to usually Friday nights. Then all trades are closed. I see the whole thing a bit as a game and by now I am quite relaxed about BT. I would advice to simply only deposit funds that you are willing to risk – after all it is trading, and there is risk involved, though it seems to me that they have extremely good risk management in place.
The support team has always been prompt and friendly in replying to my questions and concerns. More in-depth questions related to the actual trading have not been answered by the first-level support team, but I have even been put in direct contact with trading team in that case, which I thought was great.
I plan to do first "real" withdrawals middle of next year and then will report again.
Bluetrading.com did end up being a full on scam. Massive draw down on accounts. They are blaming software malfunction. BS. Putting my account into negative balance. 3600euro to minus 260euro. They should be watching their backs.
Nov 29, 2018 - 5 Stars
Hi to All
I have been with Blue trading for 19 weeks now. Joining as a VIP member depositing my funds via Bank Transfer.
Funds were cleared and my account was up and running with in 24 hours. Being with them now for 19 weeks with one week showing a small lost. Average returns have been showing a monthly of 15% to 20%. I have made several withdrawals via Bitcoin with the funds showing in my Wallet with in hours.
What I find on their web site is true and correct. Also the Mirror platform keeps me up to date on my portfolio 24/7. Their support is second to none getting back to me with in hours.
I give Blue Trading five stars and more, they stand head and shoulders above most managed funds.
Kind Regards to all FPA members and here's to a good year ahead with your investments.
Cheers Roderick ONeal
Aug 25, 2018 - 5 Stars Hi to all.
I have been with Blue Trading just on a month now. I signed up as a V.I.P investor, up to this time the returns are past my expectations and the support is second to none. Keep up the great work Blue Trading.
Lost money and asked to withdraw a negative balance
Now the website says that the account balances have been updated and to withdraw everything before 15 March, but how exactly do I withdraw a negative balance?
Well, as the old saying goes, "If it's too good to be true, it's not". It's all for yourself here in this industry.
SCAM - nothing more to it...
So it looks like the "too good to be true" Blue Trading has finally come to an end? Im sure for many of you it all seemed very positive as profits were being shown BUT then all of a sudden as of last week its all come to an end? Like many of you I stand to lose a substantial amount of money and there is nothing we can do?
OR is there? Does anyone have any idea / direction we could use to help gain some of our profits if not at least our deposit capital back?
Im being told its a technical error... so basically the "traders" and all their experience means nothing if they are simply just using a computer system to run their trades?? Surely if a human was entering and monitoring their trades this could have been avoided.... just another SCAM it looks like... anybody heard anything from the support staff lately??
On 22 feb,2019, blue trading announced massive draw down and said were investigating. My account as on 22 feb 2019 was still showing Euro2573 in balance.
Today on 24 feb,2018 they sent message that blue trading is closing down and and we should withdraw our balance and balance now reads Negative 249 Euros. So without trading they have wiped out my entire account and I am sure same is the case with everyone else with blue trading. And these scammers have the guts to say that they would be back with another company /name to fleece more customers.
I had deposited my funds to VILARDES GROUP Ltd. in UK through wire transfer as it was the address given to me by them.
So beware if they reappear anywhere else with different name. Anyone on the forum who can share how to raise a complaint against a company with UK FCA.
€ 231.91. It looks like they started some new system which they obviously don't even check when it places orders and the bloody thing blew everyone's accounts. I guess the system that was working for 3 years and was making money wasn't good enough so they decided to fix what isn't broken and lose everything.... or they just decided there was a lot of money in the pot and thought to grab it all and tell us suckers that the system lost it all.
Great Retuns, great customer support
I highly recommend them, here's proof of earnings
They even issue withdrawals during weekend within few minutes, this is a little gem truly, but I don't think they will last long
Reply to company's comment (Natasha) - Update of previous review: All Good (Dec 29)
Dec 29, 2018 - 5 Stars I wrote a review for Blue Trading on 20.12.1018 under the title "Unfortunately a big scam". It was based on a negative experience I had due to withdrawal delays. I am not sure why the delays occurred but the fact is Blue Trading did try to resolve the issue and I finally got all my money back including my profit. I would recommend to all fellow readers to avoid bank wires and prefer Bitcoin withdrawals. That's how I got paid. Performance-wise, Blue Trading did a very good job. I got 17% net return in 2 months. Assuming all future withdrawals will be hassle-free, I think it's fair to rate them 5-star.
Dec 28, 2018 - No Rating For the sake of fairness I need to say that the second withdrawal (3000 Euro in bitcoin) was finally made. They said it might have been a problem with the blockchain. The first withdrawal (500 Euro bank wire) is still not completed. Although I was relieved to receive the biggest chunk of my money, I am not sure I will deposit again. Too much frustration.
Dec 20, 2018 - 1 Star I opened my Blue Trading account and deposited the minimum required amount (3000 Euro) on 12-10-2018. By the end of November my account was in profit by slightly more than 500 Euro. On 4-12-2018 I requested my first withdrawal for 500 Euro. At the same day I got an email confirmation that they had processed a bank wire. Until today I haven't got my money. Moreover, all responses from the finance department have been vague and frustrating. Fact 1: A first 500 Euro withdrawal never reached my bank account. Money is still missing.
As they state on their website that Bitcoin withdrawals are being completed instantly (1-3 hours they say) I decided to stay calm and request one more withdrawal for my initial capital, the 3000 Euro I had deposited in the first place. On 18-12-2018 I got an email confirmation that they had processed the bitcoin withdrawal.Until today I haven't got my money. Fact 2: A second 3000 Euro withdrawal never reached my bitcoin wallet. Money is still missing.
You judge if it is a scam or not, for me it's the definition of scam and it's very well planned. My total loss was 3500 Euro, capital and supposed profit. I told them I would flood the Internet with my negative review. Legal action is meaningless for a 3000 Euro amount (legal cost will be much more to pursue a company in Tokyo) so my only line of defense will be to spread the word about this rip-off.
Reply by bluetrading submitted Jan 10, 2019 Dear Tassos,
I am showing on your account that you had two withdrawals processed, both successfully and one failed withdrawal due to your bank not accepting the wire - then you requested two other withdrawals that were both successful. To call us a "scam" because of this is beyond misleading. Your emotions should not look over the simple facts that we actioned your withdrawals immediately. Good luck to you!
Should have known better
Bluetrading system drawdown
What do they mean by system drawdown?! Did we loose all our money, total is more then 24k €.
I lost in one day more than 60% of my investment. Is this what also happend with the whole community of blue traders?
Blue Trade website not available
Oct 4, 2018 - 4 Stars Update: as of 2018-10-04
I have received my funds through BTC withdrawal.
Raised the issue through the call center, at the end the delay came from a server issue - my emails not being received.
Despite of FCA / FC warnings, i'm a happy investor. Expect 15-20% return monthly
Oct 2, 2018 - 3 Stars Guillermo - BlueTrading account number: #57825534
BlueTrading has been successfully investing my money for 5 months. Average monthly return of 15-20%, easy deposit and usually timely withdrawals.
However, since the latest news from Financial Commission and FCA, it seems that withdrawals are being delayed.
I requested on Friday 28th a BTC withdrawal for EUR 20k. Still no news and it's supposed to be processed within 1 business day.
On Monday I sent many follow-up emails, and contacted the call center twice, didn't work. I instructed to cancel any new market trades, but despite of that i have seen new trades opened.
Would like someone from BlueTrading to explain what the situation is
Very good returns, but nothing lasts forever in FX
Unfortunately ..the reality however is any leveraged FX system hitting 20% a month or even 10% a month won't last. It's statistically impossible over 5-7 yrs MAX.
The likelihood of big DD happens constantly on every system I have seen on Myfxbook or FPA performance testing. I am in 7 EAs currently and the longest one running is currently 11 months which is VERY good. 5-6 years is the top 1% and I run back tests to trade with these of course over the other 99% that hit huge DD the first 90 days..
BT is definitely in the 1% but they never last "forever".. just the food for thought and a reminder that FX should always be RISK CAPITAL only.
Good luck to everyone with their trading! :)
Just if you will avoid wire transfers, then funding and withdrawing in BTC will be sooo fast in 1-2 hours. I did 2 withdrawals without any issues.
So glad till now without any issues, let us pray for them keeping doing that good!
Nov 30, 2018 - 5 Stars This company is the biggest absolute gain is unprecedented seriousness, I withdrew my profits several times without having ever had any kind of problem, I can not understand who can complain about this great company,
Nov 7, 2018 - 5 Stars Bluetrading is the best managed trading company, I have been with them for six months and my profits have risen sharply, I have also retired many times and have always been quick and kind,
So far so good
Need more information
Nov 29, 2018 - 5 Stars fund arrived on time with no issue. Confused why some get issues? If just fund withdrawal problems that should not be counted, Just wondering the audit information
Nov 19, 2018 - 5 Stars I have been with bluetrading since August. There are no issues about bank transfer. I have requested one more withdrawal and will keep updating to post.
Oct 22, 2018 - 5 Stars I am a real bluetrading customer, so far so good. But if extra security for example compensation from third independent party provided, will be much better to clients.
Oct 18, 2018 - 5 Stars stay with bluetrading for 2 months, so far so good,
Just want to see them as they perform over the common!
- deposit 4700 euro via bank wire from ANZ bank, waiting until 2019.01.04 still no respond, so dropped a query to BT, the account was credited successfully that evening.
As a forex industry professional, I'm always seeking good forex fund managements, brokers, trading technology suppliers. If the experience at BT is good enough in the following next couple of months, I might recommend others to join in BT because the fact is to trade FX is extremely difficult for retail customers. Some points I want to say.
- "UK FCA warning " shouldn't be a problem since the majority of powerful regulators such as FCA, ASIC, BAFIN wouldn't allow the broker to manage clients' fund, which should be separate from broker's operation cost. BT's approach decides it couldn't get these regulation. So no powerful regulations doesn't mean BT is a scam.
- It's also reasonable that some people doubt it's a Ponzi Scheme. Because nobody witness the whole process of BT's trading, also no sufficient info about their trading method on BT's site, how do you know BT wouldn't use your fund to reinvest others?
- I can't search out a single staff or any company's info on linkedIn, no idea if they are hiding their identity intentionally.
Although there are many doubts, I still would give BT a shot. Because FX itself is highly risky and I couldn't find any other FX fund management firm which better than BT. Time will prove everything.
Thanks Blue Trading for the perfect service
Nov 29, 2018 - 5 Stars I have invested in a management account by Blue Trading since april and the service is superb
Every withdrawal request is processed and confirmed within hours and it always consistent. Compliments for this excellent service in the Crypto world.
Jun 15, 2018 - 5 Stars I started investing in cryptos way back, and now I stopted mining myself this it the perfect solution.
Every question is always answered within a few minutes, withdrawals are instant after conformation and I can follow the spread we're invested in!
A big compliment for Blue Trading for starting such an innovative product!
Reply by bluetrading submitted Jun 30, 2018 Thank you for your kind feedback! Please let us know anytime we can assist you.
So far there is nothing to complain about! I am very satisfied!
My experience with Blue Trading has been excellent
I don't understand how some customers have had wildly different experiences with Blue Trading than I have.
Thank you to Blue Trading!
Sep 29, 2018 - No Rating I am an investor in Blue Trading...only standard account to date.
Planning to continue regardless of expulsion by so called Financial Commission and warning from UK FCA.
Obviously these are not positive events but let's put them into context:
1. Financial Commission is a private company acting as a self-regulatory body. Therefore their decision doesn't make me want to pull out my capital; and
2. UK FCA warning is to be expected really. Only big boys with massive compliance departments involved in organised institutional fraud are allowed. Regulators don't have a clue what's really going on in the markets anyway. UK FCA was only born in 2013 from the ashes of the defunct FSA after the financial crisis.
So BlueTrading isn't authorised to market their services to UK clients => So what?!
As long as they continue to perform and process withdrawals in a timely fashion I don't care what happens.
As with any investment DO NOT RISK CAPITAL THAT YOU CAN'T AFFORD TO LOSE.
BEST DECISION EVER
I have been with blue trading for a couple of months now. Absolutely fantastic.
No issues what so ever. Best decision I have ever made. I opened a VIP account, and have seen the account grow and grow. I have withdrawn my funds a few days ago as I need the money for Christmas and Testing. Withdrawal was processed within 24 hours. Just waiting for funds to hit my account. Will keep you updated on that.
I would like to thank the whole team at blue trading especially Hannah and Brian Hart for doing a fantastic job. They really do a good Job and reply quite quickly
15% growth in 6 weeks, very impressed - but still, some FX signals grow faster.
I'm pleased with my experience, although I was a little unsure based on the warnings. Even the low monthly performance I have seen is within the statistical range reported on their website, and at least it's not negative. I thought the 5 stars on Google was confirmation enough, and for every negative review there are plenty of positives - they ought to be the envy of any financial institution!
Too Many Red Flags
Blue Trading was my first investment into the FOREX market. As I started looking into other managed FOREX accounts, I started to identify some pretty obvious things that Blue Trading weren’t doing that my other managed accounts were doing. I will highlight these below.
I should point out, that in the seven months I invested with Blue Trading, I made over €10,000 on my initial €12,500 investment. I was mostly satisfied with the customer service I experienced from Blue Trading and most of the time, withdraws were handled the same day and funds were mainly transferred in good time. From this point of view, I had very little to complain about.
However, there were a few red flags that I discovered along the way. I eventually decided I was better to withdraw my full balance from Blue Trading as I felt the risks were outweighing the positives.
I am going to list a few of these red flags below:
Where is the Broker?
As Blue Trading was my first investment in managed FOREX accounts I didn’t fully understand how the process works. I have since invested in other FOREX managed accounts and now have a far greater understanding of how the process works. What was concerning, was that Blue Trading claimed to use several brokers, yet as an investor, I didn’t have access to any of the brokers directly.
Usually in FOREX managed accounts, there are two parties - the broker and the trader. In the case of Blue Trading, they were acting as both.
The bank account details supplied were not consistent with that of a broker. It appeared that the funds were simply being lodged into a bank account and not directly with a broker. Yet, whenever there was conversation with the Blue Trading customer support, they made it clear that a reference must be included and that I needed to send through a SWIFT payment confirmation so that they could clear the funds from their side from the broker. This process is very suspicious and not in line with industry best practice.
Lack of Performance Fees being charged
Blue Trading claim to only make money from their monthly performance fees, yet in the seven months I had an account with them, they only took a performance fee about four times. And even then, the performance fee they charged seemed far less than expected.
This was a red flag for me. Surely if a companies only source of profit is from the performance fee, then they would look to take that fee on a regular basis.
Lack of Contract or Legal Documentation
Normally when opening a managed FOREX account, some form of Investment Management Agreement is signed. With Blue Trading, not only was this not done, but there weren’t even specific terms and conditions on their website.
“Zero Profit” Trades
This one was interesting. There were several trades where the market would go against the position they had. There was one week, where the price of Bitcoin dropped considerably, yet when the trade was closed on the Friday, the account showed a loss of zero.
I emailed Blue Trading support on these, and they said:
“These are just limit orders that never executed at our target price so they were closed with no P/L.”
This didn’t fully make sense. As a trader, your price for entry would most likely be below the current market price. Assuming Bitcoin dropped as much as 7%, it is very unlikely that the limit order would not have been triggered.
Secondly, why would the trade even show on their platform if it hadn’t been triggered.
Lack of Transparency on Trades
This expands on the point made above. Normally trading accounts would show the exact entry price and time, as well as closing price and time, yet with Blue Trading, we only see the position (long or short) and the size of the trade. They claim that they don’t show any other details as they don’t want their trades copied, but this makes no sense, as they could still show the exact trading details after the trade has closed.
Unlikely Trading Strategy
Their platform seems to suggest that they simply buy or sell an asset, wait a few days, and then close that trade. Talk to any professional trader, and they will tell you that trading is far from that simple - and that it is very unlikely that approach will result in consistent 20% per month profit. Trading involves multiple and many trades - making trades to strengthen your overall chance of success. Simply buying or selling, then waiting a few days and closing a position is very unlikely to be a good long term strategy. There is just too much volatility in FOREX trading for that to be a successful strategy.
Furthermore, there is never any mention of what leverage is being used and the drawdown as the trading is commencing. This is extremely important when it comes to using leverage. Blue Trading seem to fail to mention anything about their drawdown and margins - there is a serious lack of transparency in this regard.
Odd My FX Book Links on their website.
Blue Trading list 13 different MyFXBook profiles on their website, claiming that they belong to their traders. This is inconsistent with my experience with other managed FOREX traded accounts, where you would typically expect to see only one link - as there is only one fund. Furthermore, none of these funds show profits anywhere near that match the performance as outlined on their website.
End of Month Trades would always be the best
I started to notice a pattern in the profit from the trades. It seemed that almost every month, the following would happen:
The first half of the month, would have trades that would either lose money overall or break even.
The last couple of days of every month would see huge profit on some trades that would push the overall monthly profit to 15%+.
This pattern was almost predictable by the end. There was one month, where they had two trades, a long on EURJPY and a short on EURUSD. The euro had a bad week that week and fell considerably in value.
Yet, the final results were a loss of €50 on the EURJPY trade, and a whopping €500 on the EURUSD trade. It just seemed so inconsistent.
40 Employees, where are they?
Blue Trading claim to have 40 employees, yet there is little to no mention of them on linkedin.
Problems with Bank Withdraws
In early October I had a problem withdrawing funds via bank transfer. This seemed very suspicious. They were happy to send the funds via bitcoin. I ended up waiting a week for bank withdrawals to work again.
Is Blue Trading a Ponzi Scheme?
I eventually concluded that there is a very good chance that Bue Trading is a Ponzi Scheme. I was fortunate enough to be an early investor and so I was able to withdraw my funds without too much of an issue.
When studying the overall closed trades from my Blue Trading account over seven months, the trades that made a profit was about equal to the trades that made a loss. The difference, was that the trades that made a profit always showed a big profit, whereas the trades that lost, tended to be smaller loses.
The scam is simple. Take an asset such as Gold or Bitcoin, pick whether the price will go up or down (and thus, record it as a long or short trade) and then wait a couple of days and see if the position did go in the direction that was predicted. If it did, a high profit would be recorded. If it didn’t, either a small loss would be recorded, or even better, no loss would be recorded and it would be put down that that price never “triggered” and thus the trade never happened.
Where the money really goes, I am not sure about. Part of me suspected the money is being converted to Bitcoin and then onto other cryptocurrencies that are perhaps harder to trace. The fact that Blue Trading pushes Bitcoin as a withdrawal method makes me think that there is a good possibility of this.
Either way - what they are actually doing is really irrelevant. I came to the conclusion that there were enough red flags that it was time for me to move on. I eventually asked for my final balance to be withdrawn via Bitcoin to my Coinbase account and I was happy the day it arrived.
Hopefully my experience will help you decide if your investment with Blue Trading is worth the risk. I feel lucky to have got my funds out of Blue Trading and would advise anyone currently invested there, to do the same. In my opinion, investing with Blue Trading will eventually end in tears.
Jul 22, 2018 - 5 Stars I've been so impressed with Blue Trading. It has been refreshing reading these reviews as 3 months ago when I signed up, there weren't many reviews from real users.
Its been a wonderful, experience for me. The customer service team are great and very helpful and my 6,000 euro investment has grown to 9.000 euro in 3 months.
Their trading strategy is clever and they follow a clear strategy with spreading their orders to minimize risk.
Reply by bluetrading submitted Aug 7, 2018 Thank you for your kind feedback! Please let us know anytime we can assist you.
Blue trading is Genuine
Most importantly, I like their customer service , they are very prompt and friendly.
I am able to withdraw profits(around 10-11 %after performance fee deduction for Nov month) without any
delay(ideally takes 3 working days for wire transfer,I have not tried bitcoin option yet).
I was bit skeptical while joining because of high return.Right after joining,
I closely monitored their trades and even I placed the same trade in my own trading account to track.I think they walk the talk from my experience so far.
I will update my review again in early New year.
And ha e a 13% profit based on 3000 euro investment
I had a couple of teething problems with BWT but that was my fault
I have made one withdraw via bitcoin which took around 4 hours to complete
Up to now all is good I have no complaints
Let’s hope it continues and give future returns as good as past returns
So far so good
Have been with BT for about 2 months now. Profits have average 5-15%.
Have requested withdraw x2 via BTC, in both instances very prompt payment. Within a couple of hours or at most one day. Clearly this is the recommended method for withdrawals.
Fingers crossed for some more profits!.
Nov 13, 2018 - 5 Stars Great service. Quick deposit and same day withdrawal.
Returns are not quite as advertised on site. Expect 5-15%.
Other Tha that would recommend to use sensibly.
STAY AWAY - FOLLOW UP TO MY LAST REVIEW
I left the guest review below from Justin talking about my experience. As you can see "Hannah" has resonded... (I am leaving guest reviews because I am travelling and having trouble creating an account with this blog).
Interesting response saying there is no clients with withdrawal responses, because I'VE STILL NOT RECEIVED MY FUNDS.
One second they are saying the funds definitely sent on the 6th of Nov. Then when I kept asking for a response from Brian telling him the funds hadnt come in and the bank confirmee that he then said he persinally checked with the exchange and the funds were returned due to incorrect account number even though I have provided the correct details. Then I re gave them the details and asked them to send again only for them to say the system was saying "operation not allowed".
Then I gave them different account details to send it to and then a different person Natasha responded saying "actually we can see there was a successful transfer back on the 6th" and now I have had to explain that is bull, because they had already told me funds were returned due to incorrect details.
Stay away from these guys, dodgy as hell and if they can't even get a simple bank transfer right why would you trust them with your money?
When I first did my due diligence I saw bad reviews and thought "these are just normal haters" and thought the responses from Hannah were very confident and a good sign.
Now I can see that the reviews left by other people are legitimate and Hannah is just great at leaving convincing reviews. If you look at the response she left to my previous review, firstly its false because there is at least one person experiencing issues with withdrawals- ME!!! And there are others I know, but secondly ask yourself if thats really the type of response a professional and courteous company would leave to a concern such as mine?... I think not! All she has said is you're wrong, you're nasty and good bye.
NO apologies for the experience I have had. NO attempt to fix the problem that they still have my money. Nothing..
Think about it.... STAY AWAY
Nov 16, 2018 - 1 Star STAY AWAY!!
DONT MAKE THE MISTAKE I DID.
I am a sophisticated investor with a number of other investments. When I joined Blue Trading I did some due diligence, though my mistake was not following my process and doing enough - because I was referred to this company by friends who were saying they were very happy..
I opened a VIP account with them. While trying to do so, I needed more information for the "international liquidity fund's" bank where I was sending the funds. As they had not included it in the wire transfer instructions, I tried googling the company and could not find it on Google. So I asked Blue Trading and got a response from "Hannah" who was very rude and basically told me no one else has ever needed the information I was asking for and so I had everything I need.. (the piece of info I asked for was required by my bank and I could not submit the transfer without it lol). This should have been a sign for me but I regret that I did not see this as a red flag at the time.
I finally got the funds transferred by just putting something generic in the required field and my account was open. For the first 2 weeks things looked like they were going well, the account was profiting from trades and was up a few percent.
Then a friend I referred told me of some red flags he found and so I dug deeper and found some of the negativity online. I tend to take reviews with a grain of salt because even the best companies have negative reviews by competitors or whiny people.
But I decided to ask Blue about what I had found. When I queried about the expulsion from the FCA their response was:
Thank you for writing! We would be glad to share with you the details surrounding the controversy with the Financial Commission.
Our membership was terminated suddenly for no apparent reason in September 2018.
This is not unusual at all for the Financial Commission.
As you can see on their own website, they have as many ceased members (27) as active members(27): 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.
As for the FCA - they are a British regulatory agency.
We are an Asian Cryptocurrency trading firm with no operations in the UK whatsoever.
Furthermore, the UK does not even regulate Crypto trading activity.
Therefore, it would be impossible for two 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 1000s of companies.
It is extremely important to note we have zero complaints and the list is a simple bullying tactic used by regulators to discourage people from trading outside of their country or in any Cryptocurrency product. We are currently in contact with the FCA through our legal team however to remove this listing.
I hope that clarifies the matter candidly for you - please let me know if we can assist you further.
Seems kind of fair enough... Til I thought that makes no sense, they wouldn't just kick you out for no reason without telling you. Especially when on the regulators website it says "expelled for repeated offences".
So then I decided to ask about some other claims that Blue is just another version of Iiinvestments and that their accountant who apparently audited their results is in South Africa (?) And no one can find evidence of the accounting firm the address is just in the middle of the desert and the phone rings out and I again mentioned that I had trouble finding the company when making my bank transfer.
Now let me be clear, I was very respectful in my email communication. I even said that I was very happy with them so far, that I wished to continue, that I understand every company gets negative reviews and that I was just doing my due diligence for myself and the people I referred...
Well they didnt like that and here's the response I got from "Hannah":
"Dear Mr. Farina,
We honestly don't pay any attention to this web negativity that all companies receive. We have far too busy of a thriving business to give it any concern. If you aren't comfortable with our company we suggest trading elsewhere perhaps. Thank you.
Not really the service you'd expect for a VIP account holder who has just referred approximately 20 people to them in 2 weeks is it?....
Now the red flags started to stack up and it became clear that regardless of whether all the negativity online was true or not, something is not right with this company.
So then I chose to withdraw my funds because of the stacking red flags. At first they seemed happy to process the request and got to it quickly.
However that was on the 3rd November 2018 when I requested the withdrawal and at the time of writing this it is the 17th of November 2018 and I still have not received my funds and I'm not the only one. The guys who referred me decided to pull some funds and some have still not received their money either and they asked before I did.
I've emailed a number of times over the last week asking for evidence of the transfer being made and where it was sent, yet no evidence has been sent, just emails back from them saying:
Yes you are correct your funds left our account on 6.11.2018 to your Suncorp bank account. Just wait for a few more days you should get them soon.
Now isn't that interesting.. Your money is supposed to be deposited to an international liquidity fund (the one in Hong Kong I couldn't find on Google) and Blue is only supposed to have control of it to trade via a connection and yet you contact Blue to get it out and they say "the funds have left OUR account"...
Then I tried calling last night 3 times to speak with someone and the call centre lady said Brian would call me back to discuss. After 3 calls and an email direct to Brian and it being 1am here, I had still not heard from him so I decided to go to sleep with my phone on loud.
Well I woke up this morning, no call just another email from Brian saying:
I have just checked with Finance now they confirmed your funds have already reached your account. IF you still did not get it today, please try to call your bank or wait until Monday to see if they are just floating in their exchange.
Let me know if you have any other questions.
How do they know funds have hit my account? And so I check again... Nope no funds there!
And still no call from Brian despite my 3 calls, the lady I spoke with apparently leaving urgent notes for him to call and me emailing requesting a CALL.
I am just glad out of those I referred only 1 had deposited and he got his money back through a BTC transfer - this seems to be the only way people can easily get their money back - funny that, it was the same thing the online negative reviews said when I read them...
STAY AWAY FROM THESE GUYS
Reply by bluetrading submitted Nov 20, 2018 Dear Justin,
We do not have one client with any withdrawal issues or whom has lost money trading with us. It's very disappointing you would choose to leave such a nasty review considering you and all of your referrals have actually made profit trading with us and have failed to actually identify any reason why you feel we are not a trustworthy company. The FCA/FC issues have been addressed at length in a transparent fashion. I am glad you have withdrawn your funds and I hope you find a company you are happy with!
We wish you the best,
I'm also from Australia and friends of mine suggested this company who had nothing but issues recently. I'm glad I didn't sign up. I done my due diligence checks and it's didn't meet my requirements. Company setup offshore in low regulations countries, accountant verified audited is nonsense and all supposed contact numbers worldwide just redirect to same Ireland location. Smells fishy. We decided to deal with an Aussie based services we can deal and speak locally.
TO MAKE O LONG STORY SHORT I HOPE THEY WILL BE ABLE TO CONFIRM THE PERFORMANCE .
THE 3300,00 EURO FUNDS WAS ALREADY IN SO I CAN AFFIRM THAT THE BLUE TRADING SUPPORT TEAM ARE A BIT TOO PRUDENT AND THAT FOR NOW MY EXPERIENCE WITH THEM HAS BEEN VERY,VERY POSITIVE. I HOPE TO BE ABLE TO REFUND MY BLUE TRADING ACCOUNT IN DECEMBER .
Simply A Dream!
I have been with Blue Trading for over six months.
They do everything they would say they would do.
The returns are fantastic. The customer service a dream.
I have not had any problems with Blue Trading in the time that I have been with them.
I can attest that they are legitimate. I have made 3 withdrawals.
Them letting me be a member is awesome. I'm not investing much, but they let me do it, and even with my small amount they still treat me with respect about my queries.
I couldn't recommend them more. In fact, I have been recommending them.
The trick is, invest using bitcoin. Withdraw using bitcoin. That way you don't have to wait or get screwed by bank fees.
8 months profitable with zero issues.
While it's obviously a very aggressive trading company, the performance is real.
I opened an account 8months ago and have not had a losing month yet. 3/5 of the traders I've followed on other social trading sites have blew out an account.
Withdrawals and deposits take about 1 day and their customer service here is also fast and friendly. I do wish they had an app and more strategies / trading options to choose from like at the social trading sites but really happy here.
No problem with Bluetrading
I have been with Bluetrading now for over 5 months ,same story as everyone else started with the basic account and watched it nearly double in 3 months ,I then upgraded to VIP account and what can I say but wow ,I have withdrawn for the last 4 months with no problem ,The BTC transfer was requested and BTC was in my wallet within 24 hrs ,At this rate I will have my investment back in full in 2 months and still have my original money I invested ,where else can you do that ,like everyone I also was skeptical at first but glad I did it .They always answer you within hours ,sure the responses may be short and sweet but always give you an answer .I cant complain about anything to be honest ,Im sticking with them ,where else can you get a return like that .Thank you Bluetrading
Nothing but good things to say about Blue Trading.
They are exactly as they advertise and it's pity that some people insist on being so critical of a company with not even one single actual scam complaint like 90% of Forex companies.
I hope to be a client for many years to come of Blue Trading!!
Feasibility / Reality from a Long Term perspective
I will definitely try and start with 3000 Euros. However, it sounds too good to be true that one can be a millionaire in 8 years with a capital of 3000 Euros and simply be idle and do nothing.
great customer service and always quick replay
they are great
This 6 month with them, withdraw 2 times of profit successful. Yes when you are doubt about the deposit and withdrawal , email them, ask everything, they do reply . Follow up with them until you get what you want the answer.
Yes, scam forex are everywhere, I believe if blue willing take this as a business model for long term, they will success. Forex is huge market and they should stand firm and build their name reputable, so that make this blue to be the first market fund managed success in the globe.
If you think need to be open an account for try why not give a chance to see it believe it and grab your passive income
REFERRAL LINK REMOVED
Always invest with the capital you are affordable, risk is by own responsibility, although I give them a good review, but I believe their doing best look after our trading. Cheers
Affiliates have a vested financial interest in the companies they are associated with getting good ratings.
Oct 10, 2018 - No Rating I have an account on Bluetrading.com from August. I've received the withdrawal of my profits for the first 2 months. Now it looks like there is a delay and i still haven't received it, I have no news about it after the 24 working hours...
I'll let you know as soon as they can solve it.
Reply by bluetrading submitted Oct 18, 2018 We are very sorry to hear you are having any issues with withdrawals but we process all withdrawals the same day. Please immediately contact email@example.com if you're having any issues. I am not sure why you would post here instead of simply contact us. The only time a withdrawal is ever delayed is due to the increasingly strict banking climate for wires associated with Cryptocurrency-related transactions. We have clients in over 30 countries and therefore some countries do not receive wires in 1-3 days like a typical bank wire. ALL BTC/E-Wallet transfers are instant however as well. We take very good care of our clients and find it disappointing when clients resort to leaving posts like this without actually reaching out to their account manager, etc directly. Thank you!