A United States regulator warning has been issued against Blues Elevation in September 2023
If you are looking for a reliable and trustworthy online broker, you might have come across Blues Elevation, a platform that claims to offer low spreads, fast execution, and high leverage. But is Blues Elevation a scam or a legit broker? In this review, we will examine the features, pros, and cons of Blues Elevation and help you decide if it is worth your time and money.
What is Blues Elevation?
Blues Elevation is an online broker that offers trading services in forex, commodities, indices, stocks, and cryptocurrencies. The broker was founded in 2019 and is based in St. Vincent and the Grenadines. Blues Elevation claims to be regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, but there is no evidence to verify this claim.
Blues Elevation offers four types of trading accounts: Basic, Standard, Premium, and VIP. The minimum deposit for the Basic account is $250, while the maximum leverage is 1:200. The spreads start from 2.8 pips for the Basic account and go down to 0.1 pips for the VIP account. The broker also offers a demo account and an Islamic account for Muslim traders.
Blues Elevation provides its clients with a web-based trading platform that is compatible with any device and browser. The platform has a simple and user-friendly interface that allows traders to access various tools and features, such as charts, indicators, news, signals, and trading history. The platform also supports automated trading with expert advisors (EAs).
Blues Elevation also offers educational resources, such as articles, videos, webinars, and ebooks, to help traders improve their skills and knowledge. The broker also has a customer support team that is available 24/5 via phone, email, and live chat.
Pros and Cons of Blues Elevation
Pros:
- Low minimum deposit
- High leverage
- Variety of trading instruments
- Web-based trading platform
- Educational resources
- Customer support
Cons:
- Unregulated broker
- High spreads
- No MT4 or MT5 platforms
- No US clients accepted
- No deposit or withdrawal methods disclosed
Conclusion
Based on our research and analysis, we cannot recommend Blues Elevation as a reliable and trustworthy broker. The broker is unregulated and has no transparency about its trading conditions and fees. The broker also does not offer the popular MT4 or MT5 platforms that are preferred by many traders. Moreover, the broker has received many negative reviews and complaints from its clients who have reported issues with withdrawals, account verification, and customer service.
Therefore, we advise you to avoid Blues Elevation and look for a regulated and reputable broker that can offer you a safe and secure trading environment.
What to Do If You’ve Lost Money with Blues Elevation?
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