The BlueLexus website seems fairly well designed and thought out, it is smooth to use and everything is visible and it is easy to navigate around the site.
The website markets the company as the global leader in online and cryptocurrency trading. I feel it’s a big claim. But it shows they have lofty ambitions which is admirable. Or, maybe, a marketing ploy for new investors who don’t know any better.
In terms of website design, I do like it. I can see where everything is and I am easily able to navigate around. It is one of the best websites I have come across thus far. But as we know the proof is in the product so let’s delve deeper!
BlueLexus is owned and run by a company named G.G Capital Group. This is a company that is based in St Vincent and the Grenadines (an offshore firm). This information is available at the bottom of their website for all to see. This is a red flag here. First of all the country does have a financial authority but there is no mention of the company. Neither BlueLexus or G.G capital are regulated by any financial conduct authority.
Another red flag I have for you regarding the company is that G.G Capital also supposedly own or have owned another cryptocurrency broker called Bitcoin Giants. They were also suspected of being a scam broker.
The final red flag I have found regarding the companies details is that G.G Capital Group is operated by another company! It’s called H.I Capital Group which is a company located in Sofia, Bulgaria. Now this is not to paint every company with the same brush. But from past experience, a lot of brokerages that are not regulated and are suspected of scamming clients are usually based in Bulgaria and have some link to an offshore company elsewhere. They should also be regulated in Bulgaria. But they aren’t, so it seems they are in breach of the rules in the country.
The information above should act as a major warning to anyone interested in depositing money with this company.
Their Platform And Technical Information
BlueLexus offers six different account types basic, bronze, silver, gold, platinum, and VIP. They vary degrees of access to certain extras they provide. The minimum deposit for a basic account is $250 dollars with the minimum for a VIP account being $100,000.
They offer a choice of around 40 different cryptocurrencies to invest in. The spreads on them are fairly wide in comparison to other brokers with a more reputable reputation. They also offer forex pairs but they too again have some wide spreads.
Their web platform is very basic and does not provide too much in the way for analysis, while they also have an app available. At the time of writing this, they had only one review that said it was “good” and not too many downloads at only 100+. From the look at the app it seems also a very basic set up with not too much going on in terms of extra features.
In regards to deposits and withdrawals there are various different methods of depositing into an account, you can choose between credit or debit card, many different varieties of e-wallets and also via wire transfer.
They don’t seem to offer any educational tools to help their traders which may be a blessing in disguise although when looking over their account types it does say that there is an educational centre available which is limited if you only have a basic account.
If you’re looking for a high quality educational center, take a look at DEGIRO!
BlueLexus claim they provide 24/6 support to all customers and they have a phone number, contact form, live web chat and a variety of email addresses on their website available to contact if needed.
So How Reliable Are They, WhatHave Clients Said?
As of now there are not too many customer reviews available, only one on the Android app and a few online. However those few online should tell you more then you need to know, they are given the lowest rating and are being accused of stealing money from clients or withholding profits from clients that have made money so I feel that should help you to make up your mind regarding how trustworthy they are.
As for their reliability, they are not regulated by anybody although they should be especially if they are working from Bulgaria which the rules require they need to be regulated and have limited reviews of which the majority are very bad indeed. I would say they are very unreliable If I am being honest.
In conclusion it seems that this is another brokerage that can be considered not trustworthy enough to deposit money in, it seems they are misleading clients and forcing them in to depositing money and once that is done they are finding a way to not release that money back once a withdrawal is requested. My verdict is AVOID them and don’t fall for the trick.