BlueStarFX is an offshore broker registered as a Financial Dealer with the Vanuatu FSC (VFSC) since June 2023. We have not found much about the broker; it should be relatively new. There are no reviews or Similarweb statistics, but the broker is online. Therefore we were able to register and do a compliance check. This has resulted in us putting BlueStarFX on the Red Compliance list and recommending traders avoid the broker.
Key Data
| Trading name | BlueStarFX |
| Business activity | Multi-asset brokerage platform |
| Domains | https://bluestarfx.net https://www.bsfxbroker.net |
| Social media | not disclosed |
| Legal entities | BlueStar Equity Group Limited, Vanuatu |
| Contact data | not disclosed |
| Jurisdiction | Mauritius Vanuatu |
| Authorization | VFSC Financial Dealer |
| Membership | Financial Markets Association (FMA) Vanuatu |
| Related individuals | not disclosed |
| Leverage | up to 1:1000 |
| Payment options | Bank transfer, crypto |
| Payment processors | not exposed |
| Trustpilot | not yet reviews |
| Compliance rating | Red |
Short Narrative
BlueStar Equity Group Limited d/b/a BlueStarFX obtained a financial dealer license from the VFSC in June 2023. The website is online but hardly visited. The Similarweb statistics show less than 5,000 visitors for the last three months.
No review has been written on Trustpilot yet. Apparently, the offshore broker is still in the middle of launch preparations or is a flop.
Compliance Check
BlueStarFX is registered with the VFSC in Vanuatu as a Financial Dealer. The offshore broker does not provide any information about the beneficial owners or the acting individuals on its website. Only an address in Mauritius is given. The website does not provide telephone numbers and links to social media accounts. BlueStarFX tries to operate in stealth mode.
We have registered as an EEA resident with the offshore mutation of BlueStarFX without any problems. This gave us access to maximum leverage of 1:1000. However, a maximum of 1:30 is allowed for retail traders in the EEA and most other Western and Asian regulatory regimes. BlueStarFX has no regulatory permission in any other jurisdiction except Vanuatu.
Payment options available are bank deposit or crypto. For bank transfers, prior verification is required. On the other hand, we could theoretically make unlimited pre-KYC deposits via crypto.
Because of the regulatory issues and the absence of any information about the operators, we have put the BlueStarFX scheme on our Red Compliance list. In this regard, we would like to point out that the clients of Offshore Mutation are not entitled to Investor Compensation Schemes or Financial Ombudsman support.
Share Information
We recommend staying away from this unregulated offshore broker scheme. If you have any information about the scam operators or supporting partners, we would be happy if you share it with us.
