BullFXOptions Review: Is This A Trustworthy Forex Broker?

BullFXOptions is a forex broker that offers a plethora of other services. The company is also offering education and premium insights. Additionally, it claims to be a top ten forex broker in the world. The company claims to have clients from over 13 countries. This is despite the company only being in the market from November 2020.

There is no way a company can rise to such a reputation within four months. There are trustworthy and regulated forex brokers that have been in the market longer. Such companies will give you professional services without compromise.

Only invest in such companies if you want peace of mind. Moreover, this company has a terrible level of transparency. The website has a lot of gaps in the information they provide. The only things on the website are marketing statements that mean nothing.

Ensure you do enough research before investing in any forex broker. That is the best way to ensure you do not lose your money to scammers. Check all the company’s aspects and verify that the company can deliver on what they promise. If a company is forex broker is guaranteeing you any returns, they are a scam. 

Bullfxoptions.com Review

We can say that this company is not operated by professionals who know what they are doing. For starters, the website is not clear on the services that the company provides. Additionally, the platform that this company provides is very confusing. The company claims to be a forex broker. However, the platform only contains cryptocurrency pairs.

This misdirection is common in illegal operations. People running such companies will do anything to get people to invest in the company. These people have no interest in servicing your investment needs. You are better of sticking with companies that have the trust of millions of seasoned traders.

Moreover, this company is also providing trading education. But, the company did not care enough to introduce us to any of its educators. You should never take trading advice from unknown people on the Internet. You may be taking training education from amateur traders. In that case, you will end up losing all your money.

In terms of customer support, there are two main ways to reach the team. You can call the team via 1-530-572-1101 or you can email them at support@bullfxoptions.com. While this may be good, there is no assurance that the company will respond to any of your queries.

BullFXOptions Trading Conditions

BullFXOptions boasts of providing the best trading conditions in the market. The company does a good job of backing this up by providing reasonable leverages. The company is providing leverage of up to 1:10. This leverage does not increase the risk that traders face in the market. However, some traders may enjoy slightly higher leverages.

In terms of spreads, this company does not tell us the spread levels. However, it does claim to take a commission of 0.08%. This commission is not too high. Therefore, this one of the cheapest forex brokers in the market.

However, these perks come with a dark twist. This is not a real forex brokerage company. There are no currency pairs in the trading environment. Therefore, you will not be investing in the forex market with this company.

Deposit and Withdrawal

BullFXOptions only supports one payment option. You can only deposit funds using cryptocurrency payments. Unfortunately, this poses a lot of risk to investors. Cryptocurrency payments are between abstract addresses. This makes it hard to trace funds once you send them out.

Additionally, cryptocurrency transactions are permanent. This means that it is impossible to recover your funds after you send them. Many scammers support this payment option because it is easy to steal from investors. They steal people’s funds and disappear from the market.

You should only invest in companies that support safe payment options. Ensure that you can make chargebacks in case of a problem. Better yet, you should stick to companies that have a proven track record. Only invest in companies that have the trust of millions of investors. Such companies will never steal from you.

Founders and Physical Location

The identity of the people behind this company remains a mystery. There is no introduction of the founding team anywhere on the website. Additionally, the company does not have a social media presence. This is common in scam operations. Only people running shady operations see the need to conceal their identities.

They do this to ensure that the law does not track them down. There are too many risks involved in sending your money to mysterious people on the Internet. They may disappear with your money and you will have no one to turn to. Moreover, it is impossible to recover your funds once you send them to these people.

In terms of physical location, this company claims to operate from New york. The company gives the address of its headquarters as 4138 Bingamon Road, Grahamsville, NY 12740. This means that you can walk into their offices in case of any problem.

While this may be good, we have to ask ourselves whether this company is in this location legally. A lot of forex scams operate in such jurisdictions without a license. Let’s look at the regulatory status of this company. It will tell us whether this is a legal operation.

Regulation and Fund Safety

Unsurprisingly, BullFXOptions does not have a license to provide financial services. The company claims to have offices in the USA, France, Poland, Turkey, and the UK. Additionally, it boasts of having the proper regulations to operate legally within these jurisdictions.

Luckily, it is easy to check the regulatory status of a company online. We checked the NFA’s website to confirm whether this company has regulations in the USA. We did not find any results matching the company.

The only conclusion is that this company is operating without a license. This makes it an illegal operation in most jurisdictions. There are too many risks involved in investing in unregulated companies. The law will eventually catch up with them and shut the company down. You do not want to be a client when that happens.

Moreover, no unregulated company can ever assure you of your funds’ safety. This company may not have the right banking setup to protect client funds. They do not have segregated accounts in a Tier-1 bank.

Further, there is no evidence of systems protection. This means that hackers can easily access and steal your funds and sensitive data. You better stay away from this company.

Final Verdict

There is nothing worse than an unregulated forex broker in the market. BullFXOptions is not a company you want to be handling your funds. This is an illegal company that is operating without a license. 

Additionally, these people are liars. There are no forex pairs to trade anywhere on the trading platform. There is no point in investing if you are not getting what you are paying for.

Even worse, we have no idea who is running this company. The identity of the founders remains a mystery. Only people running illegal operations conceal their identities.

You better invest in companies that value trust. Only the market’s top forex brokers can offer you the services you are looking for. They will help you safeguard and grow your accounts.

 

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