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Bluelexus
Rating: Rated with 1 star
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
N/A
Regulated Broker
No

Bluelexus Broker Review

  1. Bluelexus

    Bluelexus is a new unlicensed cryptocurrency broker that opened in June 2018. They offer South African investors the chance to trade over 40 digital assets on a simple crypto trading platform, not unlike any other.

    At first sight, Bluelexus looks like yet another non-regulated cryptocurrency broker, no different than its competitors.

    Our team took the time to carefully test this broker and find out whether they are just another scam South African traders should stay away from or if they are worth investing any money in.

    Read our full review and verdict of Bluelexus below.

    Account Types

    Bluelexus has five different account types available, based on the initial deposit and extra features. As usual, the higher the deposit, the better the account and the more special features unlocked.

    All five accounts have the following features available:

    • 24/6 customer support
    • Education center
    • Daily market review
    • PRO webinars
    • Price alerts

    Check out the special features of each account below.

    Basic Account

    • $250 minimum deposit
    • 20% bonus

    Bronze Account

    • $1,000 minimum deposit
    • 40% bonus
    • Junior account manager

    Silver Account

    • $2,500 minimum deposit
    • 60% bonus
    • Senior account manager
    • Silver spreads

    Gold Account

    • $10,000 minimum deposit
    • 80% bonus
    • VIP account manager
    • Gold spreads
    • PIA gold trading signals
    • Personalized trading strategy

    Platinum Account

    • $25,000 minimum deposit
    • 100% bonus
    • VIP account manager
    • Platinum spreads
    • PIA platinum trading signals
    • Personalized trading strategy
    • 1-on-1 trading trainer
    • Exclusive position access

     

    It is always important to look carefully at the extra features each account offers, because brokers often try and make these top accounts sound very exclusive, like here with the “exclusive position access” , when in reality nothing really changes.

    All these extra features are also particularly vague. Bluelexus also mentions that spreads become available at the Silver Account but does not specify exactly what these mean – just that they upgrade in “color”. But what aresilver/gold/platinum spreads? What’s the difference?

    Trading Software

    As mentioned in the beginning of this review, Bluelexus have a simple web-based trading platform available exclusively for cryptocurrency trading. South African investors will have 40 different cryptocurrency assets to trade against other coins or versus the US dollar.

    We were disappointed to find that Bluelexus does not offer any mobile trading or even the popular MetaTrader4 (MT4) or MetaTrader5 (MT5) trading platforms.

    The minimum deposit to begin trading on the Bluelexus trading platform is $250. This will give you access to the first, Basic Account (check out the features of this account on the section above).

    The minimum withdrawal amount is $100.

    Education

    Before South African traders decide to invest money with any broker, they should always make sure to check out any education resources available about trading. Trading always entails some risk and all traders should be aware of the terms and process.

    Many brokers decide to offer these education resources themselves and encourage users to take a good look at them before beginning their trades.

    Bluelexus does not have any proper education material available. They only have a generic definition of cryptocurrencies and blockchain, but no further information on the trading process itself.

    Customer Support

    South African users can reach the Bluelexus customer support through email or by filling out the online contact form on their website. They do not have any live chat.

    Their website is also only available in English.

    Payment Methods

    Bluelexus is owned and operated by a company called GG CAPITAL GROUP LTD. They are located at Suite 305 Corporate Griffith Center, Beachmont, Kingstown, Saint Vincent and the Grenadines.

    If South African investors choose to start trading with Bluelexus, there are various payment methods they can choose. They can use credit card (Visa, Mastercard), e-payments and bank transfers.

    Verdict

    After careful review of this new broker, we can confidently say Bluelexus is not to be trusted. South African traders should be especially careful with brokers like this.

    They are not regulated under any entity, which is an immediate red flag and their entire site is very vague and non-transparent. They also do not mention any information about the trading process or the trading platform South African investors will be using.

    Finally, they barely have any education material to help new traders and offer too many bonuses that may appear appealing to newbies, but in reality are a huge nuisance.

    Don’t waste your time with unlicensed companies, when you can easily trade with the world-famous regulated broker IQ Option!

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