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BullWins Review - is it scam or safe?

BullWins review - Is bullwins.com scam or good forex broker?

RATING: 1 / 0 REVIEWS BullWins
BullWins is not regulated. We cannot guarantee your money is safe.

BullWins is a binary options website, which basically does not have the right to operate on the European market, as well as other regulated markets like the US, Australia or Japan. The broker is not licensed by any official financial regulator and that is why we seriously question their credibility.

 

Account type Min. deposit Max .payout
Standard Account n/a 80%

 

BullWins Advantages:

 

Accepts payments with Bitcoins 

 

Actually we are not sure even about this, as BullWins does not tell us explicitly what payment methods do they accept and yet, because they have the Bitcoin logo on their web page, and because in their Terms and Conditions they specify a minimum withdraw amount in Bitcoins, we will give them this credit. 

 

Have in mind that most brokers accept payments with major credit or debit cards like VISA and MasterCard, e-wallets like Neteller and Skrill, as well as bank wire. And if you like the idea of paying with Bitcoins, here you may check our list of brokers accepting Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

BullWins Disadvantages:

 

No license

 

BullWins says to be owned and operated by Redtulips Consultants Ltd and their contact address is in the UK. Unfortunately they are not authorized to provide financial services in the UK or Europe as they do not hold a license by any of the reputable financial regulators on the Old Continent such as the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC).

 

On top of that as we mentioned above BullWins offers binary options bets and such bets are prohibited by the  European Securities and Markets Authority, which banned them in early July.

 

Have in mind that trading with unregulated brokers is particularly risky because the safety of your investment depends solely on the integrity of the people, who operate those brokers.

 

Properly regulated brokers on the other hand are required to follow a strict set of rules, among which to provide negative balance protection to their clients, to maintain a certain level of operational capital, to keep all clients funds in a segregated, protected form creditors account, to refrain form offering trading bonuses, to file regular reports and in certain cases even to insure traders money.

 

Thus, if you are trading with a CySEC broker, for example, you will be compensated with up to 20 000 EUR in case the broker is unable to pay. Similarly with FCA brokers you will be able to receive up to 50 000 GBP of your capital back. Besides here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Low payout 

 

The payout with BullWins is up to 80%, which in our view is rather low with such kind of bets. Customers usually consider attractive payout of at least 85% and above.

 

Few trading instruments 

 

That was a bit of a surprise – on their trading platform we counted just seven currency pairs, five crypto pairs, oil, natural gas and several indices. As for the cryoto coins bets are available with Ethereum, Bitcoin and Ripple. All that said, here you may also want to check our list of brokers offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Unusual withdraw conditions

 

Going through  BullWins Terms and Conditions we came across a couple of rather unusual withdraw conditions – you can not withdraw less than 250 MilliBitcoins, which is actually a quarter of a Bitcoin or about 1600 USD, if the price of the Bitcoin is roughly 6400 USD.

 

 

There is also a minimum trade volume requirement in case you have accepted a trading bonus. So  be aware of the bonuses as well.

 

Lousy web based trading platform

 

BullWins offers a basic web based trading platform, lacking many standard features with classic trading solutions such as the MetaTrader4.

 

 

With the MT4, for example, you have numerous market indicators and even the option to run automated trading sessions with the help of specially designed trading robots. So here you may check our list of brokers, offering the MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

BullWins is a unregulated, binary potions broker, which does not have any legal right to operate on the European market. As always our best advise is to choose from brokers, authorized by well respected financial institutions.

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Traders` reviews for BullWins

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