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Blue Stars FX Review | A Customer-Oriented, Safe and Profitable platform or Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 3
Blue Stars FX - logo

Blue Stars FX offers to learn the basics and advanced trading techniques through the education package, and then earn money. The company promises the trader that if they open an account here, they will fall in love with their trading environment. Meanwhile, the firm calls itself a customer-oriented, international, safe, and profitable platform. However, online reviews are rare, licenses are not listed, there is no specific legal address, and registration documents are not presented on the website. Can one trust money to such a brokerage organization or not? Could it be a scam? Join us if you want to find out what this broker is about.

Highlights

🏛️ Country Estonia, UK, Australia
⚠️ Regulation
🖥️ Website https://bluestarsfx.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $10,000
⚖️ Minimum and Maximum Leverage 1:200
⚙️ Trading Platform WebTrader
📨 E-mail support@bluestarsfx.com
📞 Phone +61721394929, +442037576389

First Impression of Bluestarsfx.com

The website quite corresponds to the company’s name. The design is done in blue and white tones. Throughout the website, Blue Stars FX talks about itself, what a wonderful broker it is, what advantages and merits it has, and what it can offer to traders, but at the same time, the obvious lack of evidence and specific facts is striking. There are many vague phrases, and many sentences without details and specific meaning.

Blue Stars FX - site

The site supports translation into almost 100 languages, but unfortunately, it is an automatic translation done using an AI, not a human, so the quality leaves much to be desired. In general, the colors and font are well-chosen. There is standard information about the terms and the company at the top, and a small risk warning at the bottom. Blue Stars FX has made an ordinary website without anything unique and interesting.

Partnership and Bonuses

Clients can receive bonuses for deposit replenishment, however, based on the information from the official website, this opportunity is available only to those who are ready to invest a minimum of $25,000. The bonus size ranges from 25% to 50%. At the same time, Blue Stars FX does not just give out these bonuses, but under certain conditions. The trader needs to make a trading turnover of 30 times, exceeding the amount of the deposit and bonus. Without meeting the conditions, it is impossible to withdraw either the bonus or the profit obtained with its help.

In addition, Blue Stars FX offers an affiliate program. Strangely, you can only find out about it at the moment of creating an account because there is a field named “promo code”. There are no conditions for the affiliate program mentioned on the website.

Account Opening on Bluestarsfx.com

The procedure for creating an account at Blue Stars FX includes providing the following information:

  • Name.
  • Contacts.
  • Promo code.
  • Password.
  • Country, residential address, and postal.

You also need to agree to the user’s terms and confirm that you are 18 years old.

Registration

After providing all the information, a personal account is opened. At this point, Blue Stars FX does not even require email verification. The dashboard interface is very primitive and simple. Users can only edit data, perform deposit and withdrawal operations, submit documents for verification, and track statistics on the affiliate program.

Dashboard

By the way, a demo account is missing. At least, we did not find such an option either in the personal account or on the website.

Verification

In the “Legal Regulations” section, there is a subsection dedicated to the AML Policy, which explains that the client needs to go through identity verification. This procedure is standard, just like at any other financial organization. Blue Stars FX requires three types of documents:

  1. Proof of identity.
  2. Proof of address.
  3. Photo of a bank card. Only the last 4 digits of your credit card must be visible.
Pros
  • None.
Cons
  • Blue Stars FX requires a picture of a bank card.

Trading Software

The company calls its WebTrader the best choice for beginners with a user-friendly interface, eliminating the need to download software/applications to a computer or smartphone. According to Blue Stars FX, the platform supports advanced chart display options, indicators, instant execution, trade history, pending orders, and automatic functionalities. In short, the broker praises its software as if it were the top-1 platform among traders.

Terminal

However, looking at WebTrader, can we say that it is some kind of professional and advanced software popular among traders? Definitely not. In reality, Blue Stars FX’s platform has a built-in chart with tools from the Tradingview service. On the left is the assets panel where you can mark the watchlist, on the right is the order parameters panel, and at the bottom is all the information about trades and history.

Features Blue Stars FX ZocDocStocks Aegis Corporate Financial Services
Demo Account
Mobile App
Own Development

How Can I Trade With Blue Stars FX?

The number of available assets, additional services, and the quality of trading conditions depend on which tariff the trader chooses. Let’s look at the details of the rates at Blue Stars FX next.

All Info About Accounts

The firm has developed just four types of accounts: Bronze (minimal deposit is $10,000), Gold (from $15,000), Platinum (from $25,000), and SMSF Account (from $50,000). The better the tariff, the more opportunities Blue Stars FX offers to traders:

  • Full education package.
  • Personal account manager and personal financial advisor.
  • Trading expert.
  • 24/5 customer support.
  • Dedicated customer support.
  • Daily signals/analysis.

Account types

Spreads start at 0.7 pips, and leverage is up to 1:100-1:200. However, the size of the commissions is not specified anywhere, although it is one of the most important parameters. The unrealistically high requirements for the minimum deposit from $10,000 – stand out. Such an entry threshold looks very strange because if you look at what minimum deposits the most popular, well-known, and safe firms offer, it will be $1-10. Will people be willing to invest such an amount in Blue Stars FX without even being able to test the service on a demo account?

How else can we comment on the trading conditions of the broker? Firstly, a leverage of 1:200 is clearly against all the norms and requirements set by regulators. Therefore, the company probably does not have a license. Secondly, there is no Islamic account. Thirdly, who are the personal managers and financial advisors? Do they have permission to operate, the appropriate education, and experience? Who are they, and what is their biography?

Pros
  • Not found.
Cons
  • Blue Stars FX requires a huge minimum deposit.
  • The Islamic account is missing, as is the demo option.

Market Analysis and Education With Bluestarsfx.com

The broker has developed separate educational courses for three types of markets: Forex, stocks, and crypto. Additionally, the company provides basic information about trading and asset classes. There is also a ticker showing online quotes of popular instruments. Other analytical and educational services from Blue Stars FX are described in the tariff plans.

Deposit, Withdrawal, and Fees

Deposits and withdrawals at Blue Stars FX are available using both fiat methods (Visa/Mastercard, or bank wire transfers) and cryptocurrencies (Bitcoin, Ethereum, Tether, Binance Coin, and others). Traders are required to pay a withdrawal fee ranging from $25 to $50 depending on the payment method. It is also important to know that if a trader has not traded the deposit amount 200 times, or has not verified their account, a fee of 10% is charged.

The processing of withdrawal requests at Blue Stars FX takes from 2 to 5 business days. In the case of using credit cards, this can take up to 14 business days. And one more important note that cannot be ignored: The firm does not undertake to comply with any specific deadlines. Does it mean that the firm can process withdrawal requests for years?

Features Blue Stars FX Investus Pro Impresamarkets
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

For communication with managers, two phone numbers are provided (one from the UK, the other from Australia) and an email address. The most interesting thing about Blue Stars FX contacts is that the email address turned out to be nonexistent. What do you think, is it normal for a broker to have a fake email address?

Fake email

Pros
  • Not found.
Cons
  • Email doesn’t exist.

Is Blue Stars FX Dangerous?

A minimum deposit of $10,000 without the possibility to try a demo account – is this a sign of a verified or dangerous broker? A fake email address – is this good or bad? Obviously, Blue Stars FX looks extremely suspicious and dubious. However, in order to draw a full conclusion about that company, it is necessary to check how long it has been in existence and what licenses it holds, if any.

How Long Does The Broker Work?

Information about the duration of Blue Stars FX’s operations is not provided. Registration documents are not uploaded, and a specific legal address is not specified. Online reviews are rare, which is not typical for a popular and well-known brokerage firm. And still, when did the organization start its activities? It can be found by checking when the website’s domain was registered. It was registered in August 2023, which is when the broker started serving traders.

Domain

How Is Blue Stars FX Regulated?

The user agreement mentions the jurisdiction of Estonia, so it is necessary to check the financial commission’s registry in this country. Unfortunately, Blue Stars FX was not found at The Estonian Financial Supervision Authority. We even checked the registers of the FCA (UK) and ASIC (Australia), as phone numbers from these jurisdictions are provided, hinting at the possible presence of representations and branches. However, no licenses were found. The broker is not even registered in Estonia, as it is absent in the official registry of legal entities.

Blue Stars FX - Estonia

Features Blue Stars FX Fine Capitals SeguroFX
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Blue Stars FX?

All that is required to start trading is to register an account on the website and then fund the deposit. Additionally, the company may require KYC verification. There is no demo account, so to start trading, you will need to fund your deposit, with a minimum of $10,000.

Is Blue Stars FX Legit?

Not only does the broker lack a license, as the registry check showed no regulation, but the firm is also probably not registered in the jurisdiction indicated in the user agreement.

How Risky Is It?

It is not advisable to cooperate with brokers that do not have a license. Firms like Blue Stars FX can easily take your money, but they will not return it. You will lose money and it will be impossible to get it back.
Kevin Berry
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Expert Opinion

Ha-ha, a standard and blatant fraudulent broker. Such scammers are immediately apparent; you don’t even need to think too much about it. If you see a minimum deposit of $10,000, absence of a license, hidden terms, and legal data – it is 100% a scam broker. And so, Blue Stars FX looks like the most typical fraudulent project, created for one purpose – to deceive traders, scam people out of money, and engage in criminal activity. The scammers didn’t even try to create a more-or-less plausible website, but just slapped together some parody of a broker. This time it was very easy to expose these crooks.

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Blue Stars FX rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Blue Stars FX

God666 September 11, 2023 - 02:49
Blatant scam
The level of trust
Quick withdrawal of funds
Efficiency of technical support

It’s an outright scam, that’s it. You can’t call “this” a company or a broker, but you can call it a dealing desk, a scam, a dump, a garbage bin, and so on.
Do not invest here; you will lose all your funds.

Reply
Steph Arish October 20, 2023 - 19:03
I can't withdraw my funds. What should I do?
The level of trust
Quick withdrawal of funds

The withdrawal function doesn’t work. I am a fool because I invested $15K in Blue Stars FX. I don’t know how to tell this to my father, as part of the money was his. He gradually gave me money to buy an apartment. And I gave it all to the scammers. What should I do?

Reply
Izi-dao November 4, 2023 - 12:19
No point in trading here as it is a fake and scam broker
The level of trust
Quick withdrawal of funds
Efficiency of technical support

You may be a super trader, you may be a psychic, but at Blue Stars FX you still will not earn anything. You will lose all your money because it is a dealing desk with fake charts, so they will scam you left, right, and center. But the main joke is that withdrawing funds from Blue Stars FX is impossible. You will ask them to give you your money back, and these scammers will ignore you. If you have invested here, you’ve fallen for a fraud. And there is no way to save your money anymore. So think well about where you intend to trade, so as not to fall for such fake brokers.

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