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Within 1 year

What major risks or drawbacks should I watch out for when dealing with BLUEMOUNT?

Broker Issues
BLUEMOUNT
Regulation
05-24
United States
WikiFX
Reply

In my experience as a trader, I am always particularly cautious about platforms with regulatory uncertainties, and BLUEMOUNT presents some significant concerns in this respect. According to my own due diligence, BLUEMOUNT’s SFC (Hong Kong) license is listed as "exceeded," which effectively means they are currently operating without regulatory oversight. This is a substantial red flag for me; regulation isn't just about ticking boxes—it provides a vital framework for client protection, dispute resolution, and transparent business practice. Trading with an unregulated or overrun entity introduces unknown risks regarding the safety of my funds, transparency, and recourse in case of issues. Additionally, the limited range of tradable instruments is a tangible drawback. BLUEMOUNT offers only securities and shares—no forex, commodities, indices, or cryptocurrencies. For someone like me who values portfolio flexibility, this lack of asset diversity restricts both hedging and strategic options. I also find it inconvenient that the deposit methods are limited to local bank transfers (with no RMB or USD accounts), and withdrawals require direct phone contact, which can be cumbersome compared to industry-standard online processes. Finally, I have noticed the lack of a demo account and relatively basic platform features, which do not meet the standards I expect for risk-free familiarization or advanced trading. The few available user reviews highlight concerns about aggressive solicitation and perceived unprofessionalism. Taken together, these factors make me extremely cautious and remind me of the importance of strict risk management and due diligence when evaluating brokers like BLUEMOUNT.

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