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BullBell Review - is it scam or safe?

BullBell Review - is bullbell.com scam or good forex broker?

RATING: 1 / 0 REVIEWS
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Trading Accounts and Conditions

  

Account type   Minimum deposit Minimum trade size Maximum leverage Spreads (& Commission)
Standard $100 0.01 1:100 From 2.5 pips 
Professional $3000 0.1 1:100 From 1.0 pips + $5/lot
Advantage $15000 0.5 1:100 From 0.8 pips + $4/lot
Rider $25000 1 1:100 Customized


BullBell offers its clients four trading accounts – a commission-free Standard one, and several other accounts, which offers tighter spreads, but involve commission fees. All accounts offer variable spreads, and leverage levels up to 1:100. Micro lots are available only on Standard accounts.

 

Spreads starting from 2.5 pips on EUR/USD are high, as most brokers offer spread within the range of 1.0 – 2.0 pips for this pair. Unfortunately, when we tried out BullBell’s demo Standard account, we found out that the spread on EUR/USD is around 5.8 pips. This is one of the highest spreads we have ever seen. Considering that BullBell is also not properly regulated, we do not recommend doing business with it. 

 

The Company. Security of Funds

 

Company

Country

Regulation

BullBell Ltd.

Labuan, Malaysia

N/A

 

Founded in 2016, BullBell offers trading in forex currency pairs on the ever popular MetaTrader 4 platform. Popular financial instruments such as CFDs on indices, stocks and precious metals are not available with this broker. The company behind the brand Is based in Labuan, a federal territory of Malaysia and a popular offshore financial center.

 

According to the information on BullBell’s website, the broker is regulated by the Labuan Financial Services Authority (FSA). Indeed, there are certain registration and annual fees applicable to Labuan companies, however even their physical presence in Labuan is not required. Forex brokers on this offshore group of islands are simply registered, and not regulated, nor supervised.

 

Offshore brokerages are not required to meet any capital adequacy requirements, to report transactions, to apply client protection rules, etc., investing with such is extremely risky and we generally do not recommend it.

 

To cut things short, when dealing with such a company there is no guarantee you will get your money back, so you’d better invest with brokers regulated by reliable authorities such as UK’s FCA, or Cyprus’ CySEC, for example. 

 

Trading Platform

 

As we have mentioned above, BullBell supports MetaTrader 4 (MT4), the most popular and widespread FX trading platform worldwide. It is equipped with technical analysis indicators, extensive back-testing environment, solid charting package and a wide range of Expert Advisors (EA), allowing clients to automate their trades. We have reviewed some of the commercially available trading robots here.

 

 

BullBell’s MT4. Click for a larger image.

 

Methods of Payment

 

BullBell offers its clients deposits and withdrawals via bank wire transfer, credit/debit cards and eWallets Skrill and Neteller.

 

Conclusion

 

BullBell is a Malaysian MT4 forex brokerage that has two major disadvantages: lack of regulation and extremely high spreads. Besides, its product portfolio is limited. That is why it is not recommended. To sum up the above:

 

Pros Cons
MT4 available Not regulated
  Very high spreads 
  No CFDs available for trade

 

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Deposit/Withdraw

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Summary

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Traders` reviews for BullBell

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