Is Blue Lexus a reliable crypto broker? Why should we pay attention to its license?
When you start thinking about making money you should consider an investment. If you get into the sphere, you will get a lot of advantages. But as the sphere is hard, it will take much time. But if you settle with this, the sphere may help you to be successful.
First, before the start, you should know whether the broker you want to invest a scam or not. Nowadays it’s very important not to face scams. They are everywhere and brokers are no exception. Our first priority is keeping you from really bad luck and trying to save your money. We, as experienced traders, help you to sort the wheat from the chaff.
How to Recognize a Scam?
We’ll help you with this and explain how to do that and will do it using the example of Blue Lexus.
What do we know?
- The first fact is that it deals only with Cryptocurrency;
- It is exchanged trading broker;
Blue Lexus launched the website in 2018, namely in June.
Blue Lexus offers a web investing platform and promise that you will use it intuitively and easily.
As they claim their main advantages are:
- profitability and many other benefits like personal account managers.
They are the unlicensed and unregulated company that is trying to fake a reliable and safe broker. Their phone number is +44-203-868-1866, as will be seen later. Registered address (owned by the company GG CAPITAL GROUP LTD) is situated in the capital of Saint Vincent and the Grenadines – Kingstown. The official website (only in the English language) is www.bluelexus.com.
They do not use well-known platforms as MetaTrader5 and any other mobile investing apps.
What Do They Offer?
At first glance, it is an ordinary broker, which offers the same thing that other trading Crypto brokers do.
What concerns numbers: the minimum deposit is $250 (too high, you may find lower) and min withdrawal account for $100. The company offers about 70 popular assets for trading. Conditions differ depending on account type. For example, if you have a basic account you will get just 10-20 percents bonus, have regular spreads and support. Your access to the education centre will be limited and webinars won’t be available. But if you have a VIP account, with a minimum deposit $100 000 you will have 100% bonus, no spreads and a private analyst.
They offer 40 coins that are an advantage because it’s too many for Crypto brokers. They are traditional Bitcoin, Ethereum and Ethereum Classic, you can find Litecoin and many other not so traditional and well-known.
We can also name such advantages as various payment methods and quite a trading platform.
What about Regulation?
Maybe you don’t know, but each company dealing with money should have a license and be under the regulation of serious financial authority.
On the one hand some people may not think about this fact seriously and invest with various brokers without any license, but on the other hand, this helps dishonest companies to make money. So, we’ll ask the question: «Is Blue Lexus legit? ».
Unfortunately, the answer will be disappointing. They do not have a license and do not regulate by any financial authority.
As they have registration in Saint Vincent and the Grenadines, they are not under regulation of some serious European, American or Australian authorities. Such isles like Saint Vincent and the Grenadines allow various financial organizations to register there as offshores. This is the way they make money. It’s complicated for isles to earn money as they do not have any resources, so they have tried to fill the financial gap this way. They register various brokers and others who do not want to pay taxes into their state coffers.
Saint Vincent and the Grenadines has a very small manufacturing sphere and their agriculture is in decline because of climate and constant tropical storms. So its authorities had decided to register such companies like Blue Lexus because they generate money for this country. To open the bank account and start their own business you have just paid once a year with no worries that your information will be sent to others. You have the right to work with people’s money and no responsibility for it.
Let us explain that if such company registered as offshore disappears there will be no consequences for them because police and any financial authority will not be able to find them and punish. Countries that do this paperwork undertake not to give out personal details of their clients.
So they sheltered themselves and minimized vulnerabilities by registration as an offshore.
For beginners, it may be too difficult to sort various brokers and understand what system deserves attention.
What Our Conclusion Is?
The fact that the trading broker Blue Lexus is a scam leaves no doubt. We were trying to find even one nice review, but for Blue Lexus, there is not a single good review on the Web.
Investing with such company is not safe, and we are here to caution you that you shouldn’t use them. There are many other brokers that are reliable and we may advise you to trade with them. One of such is OUR RECOMMENDATION because this one is tested by our team. We use it to make money. We checked them several times before started to trade with them. Nowadays this is one of the most well-structured and well-designed systems for earning.
Unfortunately, our review of Blue Lexus is one of the dozens of bad reviews which you can find online. People complain about high exchange rates, lack of cooperation with support. Users cannot do any withdrawal because of consultants trying to cheat traders and not to give them their money back. When you want to withdraw your money the broker reveal its true intentions and Blue Lexus has not so honest intentions.
All we trying to do is to protect your money from loss and theft by this trading broker. Regrettably, people are continuing to invest with this company and this aggravates the situation. We hope that with time the situation would improve and traders will become more conscious towards their choice.