Bulltraders Review – is it scam or safe?

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

RATING: 2 / 0 REVIEWS

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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

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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, FxPro Markets, cTrader	$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
	Seychelles	FinaCom	MT4	$10	Review Website