BlueOnyx Trade has been flagged by Autorité des marchés financiers for "Unregistered/Unlicensed entity offering financial products or services". BlueOnyx Trade is not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: blueonyxtradeltd.com.
I wanted to transfer my portfolio from another broker to BlueOnyx Trade. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Automated trading options|Risk management tools|Professional team|Competitive fees
Cons: Alert system is basic|No integrated tax optimization
After seeing ads for BlueOnyx Trade online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Autorité des marchés financiers. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Pros: Website looks legitimate on the surface
Cons: Flagged by Autorité des marchés financiers|Cannot verify credentials
BlueOnyx Trade offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Good analytical tools|Good mobile app
Cons: No dark mode on mobile
Tried to withdraw my funds from BlueOnyx Trade and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
BlueOnyx Trade had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Quick verification|Market news feed|Fast support response
Cons: No crypto staking|Inactivity fee applies after 12 months
The so-called education at BlueOnyx Trade is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for about ten months thinking they would help me learn.
Pros: Good mobile app|Quick verification|Regular updates|Comprehensive tools
Cons: Inactivity fee applies after 12 months