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ForexBull Review - Is it scam or safe?

ForexBull Review - is forexbull.com scam or good forex broker?

RATING: 1.2 / 5 REVIEWS ForexBrokerz ForexBull
ForexBull is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Trading Account  Minimum deposit  Min. trade size Maximum leverage Spreads
Micro  $5 0.01 1:888 From 1.0 pips
Standard  $5 0.01 1:888 From 1.0 pips
ECN $100 0.01 1:500 From 0 pips

 

ForexBull offers its clients several account types.  All accounts are offer floating spreads, high leverage levels and the opportunity to trade micro lots on the MetaTrader 4 platform with no commission fees.  Besides, there are Islamic (swap-free) options for traders of Islamic belief on all account types.

 

Account management (PAMM) services are also available with this broker.

 

The trading conditions of ForexBull seem attractive: you can start trading with a couple of bucks, use high leverage and the spreads fall within the average range of 1.0 – 1.5 pips for EUR/USD. However, we would not recommend this broker, as it is not regulated and supervised by any authority.

 

There are a number of licensed companies that have similar or better offerings. CySEC-licensed EverFx, for example, offers spreads averaged 0.2 pips on EUR/USD, with a commission of $8 round-turn, and leverage up to 1:1000. You can open an account with this broker by investing just $25.

 

The Company. Security of Funds

 

Company

Country

Regulation

 ELKTON INC

SVG

N/A

 

Established in 2016, ForexBull claims to be a STP/ECN forex and CFD broker that offers wide range of instruments for trade and allows all trading styles and strategies, including hedging, arbitrage, EAs, news trading and high volume scalping. It has offices in Spain, China and United Kingdom and is registered offshore, in Saint Vincent and the Grenadines.

 

International Business Companies (IBC) like ELKTON INC registered in SVG are not required to face any capital adequacy requirements, to report to any authority or to comply with strict rules. This means that clients of such companies have no protection id the broker disappears with their money or goes bankrupt.

 

Because trading with an offshore broker is a risky business, we advise traders to invest their money with duly regulated brokerages in reputable jurisdictions, such as UK, Cyprus, or Australia for example.

 

Trading Platform

 

ForexBull offers its clients the widely used MetaTrader 4 (MT4), desktop, and mobile versions available.

 

MT4 is globally popular for its innovative, on the go trading capabilities, variety of useful built-in indicators, advanced charting package, automated trade options with Expert Advisor strategies (EA) and extensive back-testing environment. Here is a list of more forex brokers offering MT4 platform.

 

Promotion

At the time of writing of this review, ForexBull runs a no-deposit welcome bonus of $50, available to new clients. The profit from the bonus can be withdrawn if 50 standard lots of both buy and sell trades are made (with maximum leverage 1:200). 

 

Methods of Payment

 

Payment methods with ForexBull are the following: credit/debit cards, bank wire transfer, and e-wallets Skrill, Neteller, WebMoney, FasaPay and K-net Payment Gateway.

 

Accepted currencies: USD, EUR, JPY.

 

Conclusion

 

ForexBull is a STP/ECN broker registered offshore that offers trading in numerous currency pairs and CFDs on commodities, precious metals, indices and shares on the MT4 platform. Although its trading conditions seem attractive, we would not recommend doing business with ForexBull, because it is not licensed and supervised by any regulator.

 

Pros Cons
Low minimum initial deposit required Not regulated
Competitive spreads  
MT4 available   
ECN environment available  

 

Latest news about ForexBull
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Traders` reviews for ForexBull

Spread

Pros

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Slippage

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Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

scam

it's scam..100/100 scam ..my account number is 4297 .They stole my money

yan 12/30/2017

SCAM $1800

I got email 12 Oct 2017 from Forexbull.com they asked me for provide OKpay account for process my withdraw... at the same day i provided Okpay account but since from that time no response... look like they really SCAMMED with me $1800....

my account already they have disabled but i have my full statement as well.

I thought there was some maybe technical error that's wy there was delay but i was wrong.......

Please do not use this broker ......they are SCAMMER

www.forexbull.com is scam broker

Arshad Ali 10/27/2017

SCAM Alert 4084

Withdrawal Pending over 15 days ... they just say soon will process but nothing receive .

IF i receive my withdraw i will update here . please wait or avoid it until update me..

Account : 4084
Amount : $1800

Arshad Ali 10/06/2017

Cheaters

I am a freelance videomaker and I have been cheated by this company. I created several videos for them, all promoting their company, and they failed to pay for the work.

I wouldn't be surprised to find out that they have done this to many freelances. They are cheaters. Beware.

Michael 06/28/2017
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