banner

BluOr Bank

Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?

Page content
    img/jpg

    He makes money by deception - reviews of BluOr Bank with evidence of the drain, review of money back

    The company pretends to be a Forex broker, but works like a dealer, manipulates prices and cheats everyone out. The broker pretends that the client is trading via ECN. In fact, dealing occurs inside its servers.

    Status

    SCAM

    Year of foundation

    2001

    Affiliate program

    No

    Regulation and jurisdiction

    Latvijas Banka

    Website

    bluor.trade

    Contacts

    Latvija

    Rīga

    Smilšu iela 6

    +371 67 034 222

    Pros
    • Strict jurisdiction license
    Cons
    • Dealing instead of interbank withdrawal
    • Inflated spreads and off-market quotes
    • Constant malfunctions in the terminal
    Trading Platform

    JForex

    Types of accounts

    Standard

    Currency

    EUR

    Deposit/withdrawal

    Wire Transfer

    Min Deposit

    € 100

    Leverage

    1:30

    Spread

    0,2 pips

    Financial Instruments

    Forex, CFD metals, indices, bonds, stocks, cryptocurrencies, ETFs

    Margin call / Stop out

    100 % / 20 %

    Bonus

    No

    BluOr Bank Review

    BluOr Bank is a relatively young Latvian bank. Before that it was called BlueOrange Bank and Baltikums Bank. It has a rich pool of banking services. Including mediation in trading on the stock exchange, forex dealing.

    Forex dealing raises a number of questions. Rating Forex warns: it is unclear where exactly positions are transferred and whether they even reach the real market, liquidity providers.

    There are no questions about BluOr Bank documents. The bank is legal. There are all necessary licenses. At the same time, they categorically cannot be considered a guarantee of honest service. Reviews make it clear: the bank is very far from ideal. Because of him there are only losses.

    There is one type of asset in the BluOr Bank pool of instruments that leaves no doubt about how our hero works. We are talking about cryptocurrency CFDs. This asset speaks louder than the reviews that the transactions are definitely not going anywhere.

    People open a “Personal Account” at BluOr Bank and receive simulated trading. The office can change the quotes in order to drain more efficiently.

    The terms of trade are almost in full. Not enough spreads. Without them, you won’t understand exactly what trading strategies you can use.

    The leverage of BluOr Bank is typical for the eurozone. The swaps are too big. The commissions are also not the most pleasant. Combined with unknown spreads, this indicates a high risk of getting screwed.

    Methods for replenishing and withdrawing money from BluOr Bank are not listed. Everything will become clear only after registration and opening an account for trading. There is an opinion: the set is standard – card and bank transfer. Considering the presence of crypto among the traded assets, you can expect anything.

    Terms of cooperation. How to make money with BluOr Bank?

    BluOr Bank offers investments in 8 types of CFDs:

    • currency pairs;
    • metals;
    • raw materials;
    • indexes;
    • bonds;
    • shares;
    • ETF;
    • cryptocurrency.

    The dodger website gives tables with all the tools. This is good. At the same time, the bad thing is that Sharashka’s office offers trading in cryptocurrency pairs.

    Rating Forex reminds you: crypto pairs do not have liquidity providers. This means that there will be no withdrawal of money to the interbank market. The program only simulates trading without the participation of real capital.

    There is only one Forex account. But BluOr Bank pretends that there are several of them. At least in the description of the minimum account balance. It can vary from 20 to 500 units of deposit currency. The exact figure depends on the account chosen. Only on our hero’s website there is only one.

    To trade with BluOr Bank on Forex, you need to deposit at least €100 into your account. It turns out that the minimum balance on the account where the stop-out is triggered is 20%. This is a very low figure. Here is the best proof that trades are not released to either the real market or liquidity providers.

    Rating Forex warns: low stop-out levels are common among scammers. It helps them drain client depots faster. One unsuccessful transaction is enough to leave almost nothing left in your account. To create such conditions, scammers create price spikes.

    Terms of trading with the BluOr Bank scam:

    • Shoulder – 1:30. For qualified traders it may be wider. BluOr Bank is doing its best to transfer every trader to qualification. This makes it possible to cancel the protection against negative balance in order to drive you into debt, to push a wide leverage for accelerated drainage.
    • The minimum transaction is 0.01 lot. This proves that orders are definitely not being sent anywhere.
    • The maximum deal is 20 lots. Proves liquidity problems.
    • Spreads – from 0.2 points. There are no specifics for each financial instrument.
    • Margin call – 100%. Moderately low.
      Commission – 0.008% for Forex, 0.012% for other CFDs.

    Swaps are both positive and negative. Moreover, the latter are greatly inflated in order to more effectively reset the deposit on a rollover.

    Registration, regulation, replenishment and withdrawal

    BluOr Bank is managed by BluOr Bank AS, registered in Latvia. Registration number: 40003551060.

    BluOr Bank appeared in 2001. Then it was called Baltikums Bank. This continued until 2017. Afterwards the bank renamed itself BlueOrange Bank. He did not keep this name for long. Already in 2022 he took the name he has now.

    Rating Forex warns: frequent changes of a bank’s brand are a very bad signal. There is a possibility that the company was trying to clear its reputation. According to reports for 2012, the bank was experiencing difficulties with clients. He ranked 16th, his performance was falling. Under the name BlueOrange Bank, our hero became the fifth largest Latvian financial institution.

    Legal status is not a reason to trust BluOr Bank with money. The bank, which has been operating for more than 20 years, has very few reviews. They are like crazy in English, Russian and Latvian.

    Rating Forex found an article for 2018. It said: BluOr Bank was fined €1.2 million for non-compliance with the law on the prevention of money laundering. Initially, they wanted to punish him for € 4 million. But he agreed to change the approach to checking documents and analyzing client transactions in the direction of increasing control.

    Regulation

    BluOr Bank has 3 licenses to provide services:

    • banking;
    • payment system;
    • professional participant in the financial instruments market.

    This makes it possible to display transactions on the exchange and simulate trading in CFDs.

    Attention: the license does not protect against fraud. Scammers have plenty of legal ways to stop traders from cheating.

    Rating Forex advice: it is important to check the intermediary not only by monitoring his documents. You need to understand the trading conditions and reviews. BluOr Bank is doing poorly with this. Specifications cannot be trusted. Also, the reviews are mostly negative.

    How to withdraw money from BluOr Bank and top up your account

    The BluOr Bank scammer didn’t say a word about how they withdraw and top up. There is information only for stock traders. They can transfer money between brokers.

    There is an opinion: a trader needs to open an account with BluOr Bank. Then replenish the deposit from there. This is a tedious procedure. They are very dissatisfied with the banking services of BluOr Bank. Commissions are high. The timing of deposits and withdrawals is a secret.

    Rating Forex warns: there is a possibility that you will have to pay hidden fees. For example, a BluOr Bank scammer may charge a separate service fee for inactivity on a trading account.

    Expert opinion

    Eugene Rudenko

    Among the many services that the official BluOr Bank website sells is brokerage services on a real exchange. It is unclear why this frame was used by Forex. Reviews make it clear: nothing good awaits traders. People merge in batches.

    The goal of BluOr Bank is to milk as much as possible every poor guy who opens a “Personal Account”. Absolutely all typical schemes of legal dealers are used. The trickster manipulates quotes, imposes loss trades, and slows down the execution of profitable positions.

    There is definitely no point in opening a “Personal Account” with BluOr Bank for anyone who does not know the Latvian language. Apart from him, the support only understands English. Trying to trade Forex with such a rotten broker is also useless. Guarantee: you won’t be able to make money. At best, you will be able to leave with your money.

    Over the 7 years of operation, BluOr Bank has undergone rebranding three times. There is an opinion that the purpose of the bit is to distance yourself from negative reviews.

    Want to spread the word about your company or have you been in a negative review? Contact the portal editorial office right now

    Reviews of BluOr Bank

    Despite the fact that BluOr Bank has been operating under different names for more than 7 years, there are not many reviews about it. And we are not just talking about brokerage services.

    For example, on wikifx.com one person says: the bank has very high commissions for lending. He extracts the maximum from everyone. Therefore, you should not contact him.

    Rating Forex warns: if a bank is so aggressive in lending, that is, in its core work, which brings the main income, nothing good awaits traders. The commissions will obviously be such that only BluOr Bank will benefit.

    There are also many dissatisfied with banking services on sudzibas.lv. People complain about the poor quality of service. The staff is not very qualified and jumps from one language to another. He also uses different names and gets confused by them.

    In addition, Internet banking is implemented very inconveniently. Transferring money to a card takes up to 10 minutes. Finding the detailed information needed for financial transactions requires a great deal of effort. Even the terms of service at ATMs change non-stop. To avoid mistakes, you have to regularly monitor the site.

    The website reiting-brokerov.com gave reviews from traders who tried to make money from BluOr Bank. There are a lot of complaints about constant problems with the trading terminal. Slippages and requotes occur regularly, which prevent you from closing trades with a profit.

    BluOr Bank also has huge difficulties with liquidity. This raises questions among traders. One person had problems removing beans. To withdraw the remaining capital, the scam broker:

    • strongly recommended to contact the tax office;
    • I pretended that I needed to declare my income.

    The fact is that the trader did not earn anything. He just lost. Therefore, he does not need a declaration.

    Entrust the withdrawal of money from the fraudulent broker BluOr Bank (“BluOr Bank”) to the lawyers of Rating Forex. Consult for free on every issue that requires a solution. We will take your capital from any scam.

    How BluOr Bank scams you out of money

    “BluOr Bank” is a legal legal entity that provides brokerage services within the framework of current legislation. Can he throw money away? And how.

    Sharashka is doing poorly with clients. She does not advertise herself as a broker. If so, everyone who opens an account will begin to wring the bit like a rag. For example, it will impose unprofitable trades to help quickly drain the entire deposit. Moreover, the fraudster can present his recommendations as analysts or market signals.

    Sharashka talks about ECN. At the same time, the trading conditions indicate that transactions are not withdrawn. The minimum pose volume and stop-out are too small.

    Every single quote is under the control of the scammer BluOr Bank. He manipulates them to drain them. At the same time, the trickster will explain any non-market prices with tales about a liquidity provider who allegedly provided exactly such data.

    Another popular scam method used by legal banks is to impose the status of a qualified trader. Managers will try to pull information about major purchases. For example, about mortgages.

    Fraudsters will do everything to pass off each investment as investment capital and trade in large volumes of assets. This is enough to qualify, which opens the door to wide leverage and trading without negative balance protection.

    Conclusions

    If you don’t understand anything, BluOr Bank is a Latvian bank and Forex broker. Everything is in order with his documents. But the service is very bad.

    Unqualified technical support is not able to cope with customer problems. This is especially critical in Forex. Any delay may result in a colossal minus at the depot.

    The pool of instruments includes cryptocurrency. This refutes the fairy tales about ECN trading, since crypto pairs do not have liquidity providers.

    In theory, you can trade with BluOr Bank. But this will be dealing. Moreover, the trickster can at any time widen the spreads against the backdrop of news or try to close the position with a plus. There will be no profit.

    OPEN AN ACCOUNT WITH A RELIABLE BROKER

    Ready to start investing? Open an account with a proven broker with the best conditions and favorable bonuses

    FAQ

    icon
    How do client reviews about BluOr Bank affect the company's rating?

    Customer reviews are one of the main criteria that influences the placement of a broker in the ranking of the best companies. You can see all the reviews about BluOr Bank on the company’s official website.

    icon
    How to write a review about cooperation with BluOr Bank on the Rating Forex website?

    Register on the Rating Forex website – it’s free and takes up to 5 minutes, taking into account the registration confirmation via the link that will be sent to your email. Detailed instructions on how to leave a review about BluOr Bank can be found here.

    Reviews

    All Reviews

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    News

    img/jpg

    C.K.Expro crypto exchange review – reviews from real clients, signs of fraud, scam scheme

    An anonymous sharaga drains user deposits, refuses to withdraw deposits, blocks accounts, removes hidden […]

    Read more
    img/jpg

    WhiteBit – reviews of the project, conditions for earning and withdrawing money

    The whiteBit crypto exchange has been providing its services for just over five years. […]

    Read more
    img/jpg

    What Scam Did the Opera System Invent? – Reviews from People Attempting to Withdraw Their Money

    Opera System offered signals and a robot for automated income through speculative trading and […]

    Read more
    img/jpg

    Successful Diamond Investment: Smart Capital Allocation and Avoiding Fraudster Tricks

    Diamonds, the most expensive natural gemstones, are in demand for long-term investments. Their popularity […]

    Read more