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BullTrend Trader Review – is it scam or safe?

BullTrend Trader review – Is bulltrendtrader.com scam or safe forex broker?

RATING: 3 / 0 REVIEWS BullTrend Trader
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 Trading accounts

 

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Trader €100/$130/BGN 200 0.1 lot 1:200 2 pips

 

 

Bull Trend Trader has one type of account for trading in forex and CFDs, which we call Trader for convenience. The broker also offers a free demo account.

 

The trading portfolio of Bull Trend is rather limited, with just 23 forex pairs, mainly major. The broker also offers trading in silver and gold.

 

Like we already said, this is a rather small asset portfolio, especially compared to, for example FxPro and IG, who offer trading in over 70 pairs – major, minor, exotic and emerging.

 

The Company. Security of Funds

 

Company Country Regulation
Bull Trend Brokerage Bulgaria FSC

 

 

Bull Trend Trader is a Bulgarian brokerage company, part of the Bull Trend Brokerage. It is regulated by Bulgaria's Financial Supervision Commission (FSC). Being an EU-regulated broker means it can operate throughout the EU, thanks to the MiFID passporting rules.

 

The company is also a member of Bulgaria's Investor Compensation Fund. It which covers up to 90% of the due sum in case the company goes bankrupt, but not more than BGN 40 000 (around EUR 20 000).

 

 

Trading Conditions

 

Minimum initial deposit

Bull Trend's minimum initial deposit is average: €100, or $130 (roughly the equivalent of $100). Other Bulgarian forex brokers like Bulbrokers and Euro-Finance have similar requirements. On the other hand, there are major international brokers like IG, who require just $1 and XM and FXTM with $5.

 

Spreads and commissions

Bulltrend offers fixed spreads, which are more or less average for the industry. The tightest are EURUSD – 2 pips and AUDUSD – 3 pips, but all others are fairly wide, going all the way up to 15 pips for EURCHF. Another broker with similar spreads is Grand Capital.

 

Leverage

Bull Trend's max leverage is 1:200, but the standard is 1:100. The max leverage is more or less in the average for the industry, even though there are other brokers like XM, which gives 1:888 and FXTM with 1:1000.

 

Trading platforms

 

Bull Trend offers the industry favorite – MetaTrader 4 (MT4), which it calls Bull Trend Trader.

 

MT4 has been in use for over 10 years and is preferred by traders and brokers alike for its functionality, ease of use and compatibility with third-party applications. MT4 offers numerous options like hedging and automatic trading, has multiple technical analysis and charting tools and supports money management systems like PAMM.

 

Perhaps it will eventually lose its popularity to its successor MetaTrader 5 (MT5), which has started gaining ground after the introduction of the hedging option in the spring of 2016 and the conscious effort of its developer MetaQuotes Software to promote it, but only time will tell.

 

Promotions

 

Bull Trend gives a starting deposit bonus of up to €/$ 2000 bonus. Of course, the broker has a number of requirements, besides the deposit in order for clients to withdraw the bonus.

 

 

Methods of payment

 

Bull Trend accepts payments through bank transfers, debit and credit cards and through PayPal. Clients can also fund their accounts in cash in Bull Trend's office.

 

 

Conclusion

 

Bull Trend has more or less average conditions. Its Bulgarian regulation means its can target clients throughout the EU, but, frankly, there are other Bulgarian brokers with better conditions and white label partnerships with major global brokers, which is a significant advantage.

 

 

Pros Cons
EU regulation Wide spreads
MT4  

 

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Traders` reviews for BullTrend Trader

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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