Cryptofxtrade.co.uk Review: Scam (aka BlueBird Options) - Topedgefx.com

Cryptofxtrade.co.uk Review: Scam (aka BlueBird Options)

Cryptofxtrade.co.uk is owned and operated by the same people who run Bluebird Options Limited.

They are a Forex broker that claim they won the award of the highest rated FX and CFDs broker for 2018 and 2020. Actually, both websites have used this statement on their homepage.

The two websites are basically a copy-paste of each other. Only logos have been changed.

Their marketing materials claim that this award was given to Bluebird Options Limited aka CryptoFXTrade.co.uk by Wealth & Finance International Awards.

Unfortunately, the broker’s website (bluebirdoptions.com) only began functioning in November 2019.There is also enough evidence that cryptofxtrade.co.uk was only registered a couple of months ago.

There is no way they could have won this award when they were not in business at the time.

Nevertheless, we will continue with this review to let you know whether they intend to set themselves apart from established brokers who have their houses in order and serving thousands of clients per day.

Note: Since the two brokerage websites are operated by the same person who is basically copy pasting texts from both websites, we will talk of BlueBird Options limited at the same time referring to CryptoFXTrade.co.uk.

BlueBird Options Limited (Crypto FX Trade) review

Even though this broker is offering two trading platforms, MT4 and xStation5 to their customers, we’re still skeptical about their service in general.

bluebird options limited review

Like every other Forex broker, Bluebird Options Limited claims that they have fast execution speeds, 1500 trading instruments, negative balance protection, and so on.

This is what every other CFDs broker have always promised on their website and we do not see anything here that is unique compared to what other brokers are already promising.

Apart from the above features which this broker is using to market their products and services, they also claim to be regulated by the FCA.

They even claim on their website that BlueBird Options Limited has 14 years of experience in the industry.

We know that this can’t be true based on the date of their website’s registration.

Also, the broker is offering 2 account types. Details of those accounts are as follows:

Account TypeCommissionLeverageMin Deposit
StandardZero30:1N/A
ProFrom 2.5GBP per lot30:1N/A

Deposits and withdrawals

BlueBird Options Limited is accepting deposits and withdrawals from various payment methods.

These include wire transfer, VISA, MasterCard, PayPal and Skrill.

However, they have fee levies on withdrawals that are below their stated threshold.

For thresholds of $100, they deduct $20.

For thresholds of 80 EUR, a fee of 16 EURO will be deducted.

For thresholds of 60GBP, they deduct 12 GBP.

We actually do not know why these fees are applicable when traders want to withdraw any amount they wish to receive.

These levies are unnecessary. Brokers who operate like this always have an ill motive.

Is Bluebird Options Limited Regulated?

The broker claims to be regulated by the FCA but upon close inspection, we find that they are actually using regulatory details of brokers like xopenhub.pro and xtb.com.

In fact, they’ve been called out by the FCA for using details of the above regulated brokers.

All you have to do is read between the lines to see that this broker is actually operating illegally.

Conclusion

We always advise against trading or investing with unregulated brokers.

BlueBird Options Limited and CryptoFXtrade.co.uk are actually two websites owned by doggy individuals if what we have found out is anything to go by.

Cloning other brokers is quite unprofessional. This broker and fraudulent individual should actually be included in our hall of shame for operating in a creepy manner.

Both websites don’t even have online reviews in the first place. The best thing to do is to avoid such brokers at all cost.

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