Bulls Capital Markets Review Scam Complaint
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Bulls Capital Markets is established in the year 2009 as money and capital markets in the USA. But after the US laws and regulations change, Money and Capital Markets converted itself as Bulls Capital Markets and moved out of USA. The broker is a No Dealing Desk brokerage that offers more than 70 forex pairs and precious metals to its clients for trading. Bulls Capital Market it owned by a company named Bulls Capital Markets Ltd, incorporated in the UK.
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About the Bulls Capital Markets:
Bulls Capital Markets is an offer and an unregulated broker. It offers 4 types of accounts for trading, namely, Mini, Standard, Premium and ECN account. All these accounts are commission free and offer leverage up to 1:500. There is a small commission on the ECN account where maximum leverage of 1:200. Moreover, PAMM accounts are also available to the so called money managers, and Muslim investors can opt for Islamic account, which is swap free and therefore Sharia compliant. If one wants to open an account with Bulls Capital Markets, he has to deposit at least $50 which is very economic. This is a reasonably low minimum initial deposit requirement, given that this broker is not regulated.
Bulls Capital Markets provides floating spreads according to the various trading account type. The spreads offered on the Mini and the Premium account types are far from the competitive ones, starting from 2.5 pips and 1.6 pips on EUR/USD, respectively. Whereas, spreads on the other two accounts are tighter, and the trading costs of these fall within the range of 1.0 – 1.5 pips. This broker supports MetaTrader 4 platform for trading, which is the most preferred forex platform of most experienced traders. Bulls Capital Markets allows its clients to withdraw funds up to the initial amount of deposit via the same method which they used for deposit.
Is Bulls Capital Markets legit or scam?
Bulls Capital Markets is an offshore NDD broker that is unregulated, it offers trading in precious metals and currency pairs on the well known trading platform MT4. Despite of being incorporated in UK the company is not registered with FCA. The initial minimum deposit requirement of the broker is also not justified and is very low to be true. Charging mere $50 as initial deposit for trading is something that looks fishy as the industry average of minimum deposit lies in between $100-$150. Therefore this broker doesn’t seem legit.