Bulltraders Review – is it scam or safe?

Bulltraders Review – Is bulltraders.com scam or safe forex broker?

2 RATING

Find Better Forex Broker

0 REVIEWS

Trading accounts and conditions

Account type	Minimum deposit	Minimum trade size	Maximum leverage	Average spreads
Micro	None	0.01 lot	1:200	2 pips
Standard	$1000	0.1 lot	1:100	2 pips
Pro	$5000	1 lot	1:200	2 pips

Bulltraders has three real trading accounts. A demo account was supposed to be available for trying the web-based trading platform, but the attempts to open one end with the message “operation forbidden”.

The broker has a large portfolio of tradable assets that includes forex, CFDs on Bitcoin, indices, metals, oil and futures. There is also the option to trade in binary options.

The Company. Security of Funds

Company	Country	Regulation
BT Technologies LTD	SVG	FSA, SVG

Bulltraders is owned by the company BT Technologies Ltd, based in the offshore zone Saint Vincent and the Grenadines. The broker is supervised by the local Financial Services Authority (FSA), but the regulator is not known for its robust oversight. On the contrary, the offshore zones are generally known for their lax regulation and business rules and non-existent corporate taxes.

For those reasons the offshore zones are preferred mostly by two types of companies: crooks and those who want to cut financial corners. The latter is not necessarily a bad thing, but it is always better to choose a broker with robust regulation, like the one provided by UK's FCA or the Australian Securities and Investment Commission (ASIC).

It is worth noting that Bulltraders does not accept clients from the United States, Japan, Korea, Canadian provinces of British Columbia, Quebec and Saskatchewan, as well as other areas where these services can not be provided in connection with the existing restrictions of the legislation.

Trading platforms

Bulltraders appears to have a proprietary platform – Bulltrader – developed by UTIP Technologies. It comes in versions for desktop, web and mobile devices.

The platform has numerous features and supports trading in forex, CFDs and binary options. It provides four order types, take profit and stop loss options, analysis tools, full trading reports, analysis and market quotations.

Unlike the majority of forex brokers, Bulltraders does not offer the popular MetaTrader 4 program.

Promotions

Bulltraders has an extensive bonus program. The broker offers a standard 10% bonus for all new clients who request it and an up to $100 bonus for certain account types. There are also programs for bonuses on client deposits for pro accounts, which in essence is a monthly interest on deposits. The broker also offers non-deposit bonuses.

All bonuses are subject to conditions.

Methods of payment

Bulltraders accepts client deposits through debit and credit cards and the internet wallet systems Orangepay, Cauri, WinPay and OKPay.

Conclusion

We must start off with the fact that Bulltraders is an offshore forex broker. Like we noted, this does not necessarily mean it is a scam, but one should always proceed with caution when dealing with them.

On the other hand, it seems Bulltraders is a serious company with average trading conditions, even though the leverage is somewhat low. Of course, there are other brokers with better conditions and more robust regulation, but – to each their own.

Pros	Cons
Extensive bonus program	No MT4
	Low leverage

Latest news about Bulltraders

Broker	Advantages
	FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
	easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.
	HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 1.8 pip

	FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
	XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
	FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
	FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

	FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

	Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
	Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

Broker	Country	Regulation	Platform	Min Deposit	Review
	Cyprus	CySec	MT4, MT5, Web	$5	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, Web	$100	Review Website
	UK, Cyprus, Hong Kong	FCA, CySEC, SFC	MT4, Web, PrimeTrader	$100	Review Website
	UK, Australia, Singapore	FCA, ASIC, MAS, BaFin	MT4, Web, ProRealTime, 2Dealer	$0	Review Website
	UK, Australia	FCA, ASIC	MT4, Trading Station, NinjaTrader	$50	Review Website
	UK, Cyprus	FCA, CySec	MT4, MT5	$5	Review Website
	UK, Cyprus	FCA, CySEC	MT4, MT5, cTrader, SuperTrader, FxPro Markets	$100	Review Website
	Belize	IFSC	MT4, MT5	$100	Review Website
	Cyprus	CySec	MT4, Web, Gwasy	$100	Review Website
	Belize	IFSC	MT4, MT5, Web	$1	Review Website
	Cyprus	CySEC	MT4, MT5, cTrader	$300	Review Website
	Seychelles	FinaCom	MT4	$10	Review Website
	UK, Cyprus, Bulgaria	FCA, CySec, FSC	Web	$150	Review Website