Yes, Max Gains Blue FX is a scam and has been warned by the Financial Conduct Authority (FCA), the UK financial watchdog.
Max Gains Blue FX is a platform, allegedly domiciled in the US, that claims to offer binary options, Forex, and spreads. It purports to be regulated by the Commodity Futures Trading Commission (CFTC), the Belize Financial Services Commission (Belize FSC), and the Cyprus Securities and Exchange Commission (CySEC). However, these claims are unfounded.
If it were regulated by the CFTC, it would have been registered as a member of the National Futures Association (NFA). But the search results out of the NFA reveal that it is not an NFA member. This is a red flag.
We also searched the registers of the Belize FSC and the CySEC for this broker but no official data matching the fake platform either. What's more, the FCA has issued a warning against Max Gains Blue FX, stating that it is an unauthorized firm. The full warning can be accessed here.
Therefore, BrokersView strongly suggests investors stay away from scam broker Max Gains Blue FX. Entrusting the platform with funds and personal information is dangerous, as there are no rules in place to safeguard them. If any violation occurs, its clients may not able to reclaim their money or get compensation from any official body. As such, it is advisable to choose a fully regulated broker instead.
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