Blue Trading Reviews 

Con artists at worst, woefully inept at best.
I am shocked by the events of the last few days. I joined Blue Trading 6 months ago. I joined with my eyes open.... i.e. day trading comes with risks and they are an unregulated business so no safety net from the FSCS should the worst happen. However, on the plus side they had a 3-year track record in the retail space and an exceptional one at that. The fact that you can lose 100,000+ euros to an alleged system glitch and they can just walk away is truly shocking. To rub salt into the wound they then gave us the good news they will be back with a different identity. You couldn't make this stuff up.

I have today written to the IFMRCC (International Financial Markets Relations Regulation Centre), who have Blue Trading as one of their 12 certificated companies, to notify them of this catastrophic failure and to ask them to compensate Blue Trading's customers (long shot). The "About Us" section of the IFMRCC website notes...

International Financial Market Relations Regulation Center (IFMRRC) is a non-commercial organization created to regulate the quality of services provided by brokers, dealing centers, as well as the reliability of services provided by participants of the cryptocurrency market: cryptocurrencies, cryptocurrency exchange markets, cryptocurrency cloud mining services and companies, which attract investments through ICO.

The Center’s mission is the provision of traders and investors with maximum security of their transactions on the stock and foreign exchange markets, as well as on the cryptocurrency market. In pursuing its objective, the Center employs certification of companies that provide their services on the Forex and BO markets, and on the cryptocurrency markets.

The website notes in relation to the compensation scheme.....

3. Payouts from the Compensation Fund

3.1. The payouts from the compensation fund are permissible solely in cases when the IFMRRC Board has acknowledged the infringement by the IFMRRC NCP certified brokerage company and in turn the company refuses to consider a claim and reimburse the losses to the customer.

3.2. The means of the compensation fund are spent solely for the purposes stated in provision 1.3 of the present Regulations.

3.3. In case of acknowledged relevancy of the customer’s claim and necessity of its satisfaction, IFMRRC Board makes a decision to conduct the payout from the compensation fund. The payout is performed within 10 business days after the according decision.

3.4. The payouts are performed in accordance with payment details provided by the customer and IFMRRC NCP has the right to request any necessary documents to validate the customer’s identity. In case of the customer’s refusal to provide the requested documents IFMRRC NCP reserves the right to refuse payout from the compensation fund.

Can anyone contacted onyx capital, please?
I can't, because I not speak english good

Lost 5340 euros of my hard earned money. They are scum and i think they have pocketed most of that money and not lost it in trading. I feel bad seeing so many people lost such huge amounts of money its crazy. there must be something we can do

If anyone is gaining traction against BY can you please advise on this forum so we can all contribute.

All good until it wasn't. A week before there was the dodgy zero transactions and then the "trading incident " which appears to be fraudulent. Lost €20k.

Edit. Received email from Brian Hart that states only some lost their money. Does anyone know if that is the case? The Onyx statement looks dodgy and as said elsewhere this looks like a planned scam as they allegedly had €36m under control yet Onyx shows a much smaller amount. Throw in that Dash went up and so long positions were unlikely to have been closed at a loss and this seems like straight up fraud. If there is a WhatsApp group please post details.

I too have lost money with Blue Trading. Seemed too good to be true and finally it was proven to be the case.
Please do not fall for any other scams advising that you can recover your money because unfortunately you cannot.
Just have to accept that our money is gone and not coming back through Blue Trading.
As Blue Trading have stated "we WILL be transitioning to a NEW Exchange under a different brand where clients can deposit and have trading in the next months" we must ensure that we use Trust Pilot and other forums to continue to blacklist Blue Trading or whatever trading name it uses in the future to prevent people becoming victims to the same scam.

Lost all my investment with them. I left my money in the trading account to compound and after some solid gain (theoretical - can't be sure it was actual cash) they placed a couple of trades which wiped their entire clientbase's money. Any reputable investment company would have risk management. I trade independently and my stop losses would protect me from wiping out my account so even after some losses I can come back to trade tomorrow - and I am an amateur not a million pound fund like blue trading claim to be.

Joined this fund in March 2018 after much research and thought were a trustworthy and reputable company. How wrong I was!...

Lost 34k in a matter of minutes which I hadn’t thought would be possible given previous trade activity on my account

Surely if it’s an internal error that created all this mess the investor should be compensated!?! No?...

I’m up for joining a group to pursue these charlatans

Update. We have formed a whats app group and welcome anyone who would like to join, we are all currently in the process of making a claim via IFMRRC, it’s free to claim and they have a compensation fund. I have a template for eyeryone to use

Post your contact numbers with your reviews and I will have you added

Many thanks

at this difficult time it is hard to believe any recovery without any solid proof. once beaten twice shy. Everyone wants their money back but at the same time Malaika told me it's 2500€ before anything can be done. How do u believe all these guys as they are not far off from scammers. pls share proof if advertising any recovery guys otherwise it's waste of space and time.

Blue Trading Failure
I am another victim of the Blue Trading "cessation of trading" incident. I do not know if the entire program has been a scam or they have actually been a victim of an Onyx Capital system failure. As a result, my account went from a Euro 29.1K position to a negative position.

If Blue Trading "scammed us" over the years, then we need to do whatever is necessary to try and recover and blacklist them and all the individuals involved. However, if they were indeed "scammed" by Onyx Capital, or suffered a loss by Onyx's business failure, then both Blue Trading and all their clients (us) should engage professional to take necessary actions against Onyx Capital. At the minimum, Blue Trading should have a certain amount of cash reserves, as they have previously implied they make selected trades, and Onyx Capital and their Software providers should have insurance to cover all or part of the losses incurred as part of their risk management responsibilities. So to start with, there should be a proper filing of a police report by Blue Trading, and then they should engage a company or lawyers to facilitate in filing a claim against the parties with whom we entrusted our money. If they are prepared to commence actions, then it will be more believable that we were not scammed; however, if they fail to take appropriate action, then their explanations and actions are meaningless, and then we draw our own conclusions.

In the meantime, please include me in any actions to be taken in an effort to recover part or all of our investment.

This is not a "trading loss" for which we all know the risks, but rather a mismanagement and operational loss, for which there should be corporate accountability a recourse of action!!

I have been caught too 21292 EUR can I please be added to group
Cheers
Trevor

Same here. If there is a channel, in slack, discord or whatever, created to take some actions all together, let us know. I can also see there are scams on top of the scam, companies for money recovery. Beware.

Like most here I too lost a substantial amount. All the so called recovery messages on here are scams - never pay up front, any Legitimte recovery company will work on a percentage recovered and they won’t get it back after just a few days (if at all) of this happening. The only way to get any money back is if we work collectively and together. I’ve seen Messages here about WhatsApp groups, etc some have gone to Interpol. Has anyone yet set up a group that we can join to tackle this collectively?

I'm a victim of BT lost 13700 euro. Please help me with it.

I see a lot of comments saying how good Malaika Recovery were at recovering their money.! I chatted with someone from that company yesterday and did not believe a word of what they are saying. For a start, you have to pay 1500 euros up front for them to "investigate" then they will "try" to recover your money. The advisor I talked to told me that he would charge me even more than 1500 when I came back to him later.!! This whole Blue Trading crash started on the 21st of Feb and I am writing this on the 26th. So these people are saying they transferred money to Malaika and they recovered their money within 5 days.!!!??? Sorry but I doubt this can even be possible. Totally fake in my opinion. Incidentally, I lost 6k and doubt that I will ever get it back.

I see that some are consulting lawyers, recovery firms...
I have no phone, just an email and today the cost of internet seems to me to much....so i will check your message on this site to be informed and to give info you may need _list of banks who received my money.....

My friend is an engeneer in informatics and he is telling me that a software glitch should show trades taken all at the same time and with the same lot size, which was not the case. So it is Not an algorythm problem, a software problem something else happen...

Please let me know what progress is made in the legal action , i would like to be part of a group legal action, but....we need first to know who is the scammer:blue trading , onys capital , the banks, all of them
???????

3_

Blue trading claimed they were active for few years and gave some annual returns.
Is there people who were client vfor two or more years here. Please let us know.

Like everyone else i got scammed by this lot.
I was only in for 2 weeks and lost 20,000 AUD.

After the first trading loss i and others had small positive balances. They dealt with all of those over the next 2 days with bogus trade updates.

When i noticed the russian involvement i knew it was over.
Very keen to contribute to any action that will help hunt these low lifes down.
Spoke to someone from mychargeback. If you used:
PayPal: forget about it
Bank wire transfer: possible if it was recent and over $10k USD
3rd Party (eg Transferwise): Pretty much forget about it. The amount would have to be large for them to consider it.
Credit card: The best chance of reclaiming.

I think it has to be recent though. Upfront cost as well...There's a saying "don't throw good money after bad" which is probably apt in this scenario....

Have joined the Whatsapp group.

Like everyone else I have lost funds too and surprised at the undeniable gut feeling I have. I have taken it up with action fraud UK and trying to report to Interpol. I believe that there was a switch because the company swapped over banking and names. There are their own banks, addresses and business owners who need to be held responsible for this. Here is all the information and names I could gather after going through my emails. I have a 4 month old boy who was going to benefit from this!!!

Names of workers :
Emma Parsons - Finance
Sharlah Gonzales
Brian Hart - Client relations manager
Ryo Watanabe - Trading manager
Madelaine - Assistant
Hannah Smith - Finance assistant
Svetlana - Finance assistant
Veronika

Japan Address:
6-2-30 Roppongi
Roppongi Hills Tower
Tokyo Minato-ku 100-0032
JAPAN

Company details in November:
Company Name: STRONIT GmbH
Company Address: Hauptstraße 134 , 51143 Köln, Germany

Banking details in November:
Name: Postbank Berlin
Address: Eckenheimer Landstrasse 242, Frankfurt, 60320
Account: DE16100100100924066108
Swift: PBNKDEFF
Surely you have to go into the bank to set up an account? CCTV?

Banking details in Jan 2019:
Postbank Nürnberg
90329 Nürnberg BLZ 760 100 85
Account IBAN: DE32760100850118579850

Company details in Jan 2019:
ION & Maga Consulting GmbH
Unsöldstrasse 2 80538 München

Glyntown Glanmire Cork ( place Where chocolates came from)

P.s. stay away from any company who is trying to retrieve funds as it is a double scam. If they are going to do it, it just be at no initial cost and only payment when the money physically lands in your account!

Hi

Anyone that was left with a positive balance - have you succesfully made a withdraw to your bitcoin wallet ?
(As in you physically have the funds)

One star because its obviously SCAM.

End of the day I got lucky and walked away with 4600 EUR. Initial investment was 3100 EUR.

Withdrawal done, money hit my crypto wallet. Win-win situation for me.

My heart goes to all those who had insane losses. Finally, I have learnt my lesson and will stay away from these scams.