BullCopytrade Review 2024: Another Recently Established Scammer Rated
The year 2023 brought a lot of things, from COVID to wars and that is not everything. In the trading world, it seems like most scam companies were established in 2023, probably because none of them lives long after being recognized and blacklisted.
Unlike FX Corp, which has years of experience behind it, BullCopytrade is a newer broker that appeared only recently. Instead of trying to break through and become successful, this firm decided to follow a different path. A path of scams and lies, which will all be uncovered in this BullCopytrade review.
At first glance, it will appear like the BullCopytrade broker is perfect. Regulated by multiple top-tier authorities, transparent, and eager to help traders to profit. However, nothing is as it seems and this broker is a dark lie. All lies and secrets will be uncovered in this BullCopytrade review.
By making you believe they’re a regulated and reputable brokerage with a 5-star rating on Trustpilot, they will lure you into depositing your funds only to later leave you without the possibility to withdraw. According to ScamAdviser, this company has a very low trust score, meaning it can’t be trusted.
The lack of transparency is also something to be concerned about. Although they present themselves as a reliable and transparent broker, the truth is much worse. According to WHOIS, the owner is hidden using a paid service, and the domain is registered on a completely different address they provided, which is Kalkofnsvegur 2 in Reykjavik, Island.
|Bull Trading Ltd
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|United States, Nigeria, Philippines;
|Unregulated broker deceiving investors;
According to the broker’s website, the Seychelles Financial Services Authority (Seychelles FSA) is in charge of overseeing the company. However, that claim has been refuted by a warning against this platform given by the Seychelles FSA. This inconsistency raises suspicions of possible fraud.
Additionally, the broker dares to claim to be regulated by the SEC, ASIC, BaFin, CIMA, ESCA, FSC, FMA, MAS, TFG, and VFSC. The BullCopytrade scam is so apparent and could be noticed from miles away.
Essentially, there is no regulatory agency that oversees BullCopytrade. It is extremely dangerous to entrust your money to this broker because there are no legal safeguards in place to protect you or your funds.
But don’t let regulatory status fool you. Sometimes even regulated brokers can pose a threat to your funds. Take BDSwiss as an example to learn from.
The available assets include 61 currency pairs for BullCopytrade forex, 25 Indices to trade from across the globe, commodities where you can trade energy, agriculture, and metals products like a currency pair against the USD or as a Futures CFD, +2100 stocks from ASX, Nasdaq & NYSE, bonds, cryptocurrency, and futures CFDs.
Trading on the MT4 and MT5 platforms is available, which you can test using a demo account. Additionally, the broker offers a proprietary web trader called BullCopytrade. The only thing they pride themselves on is fast execution and competitive spreads but you will have more luck with a regulated broker that costs more.
Additionally, if you are into copy trading, the broker offers BULL Autocopy, a program where you can copy trades from seasoned investors. Overall, they do provide a wide array of assets but what good will that do if you can’t withdraw what you earned?
There are only two account types to choose from and both of them are the same in terms of features. The only difference is in spreads, which is why the account is called raw spread. Other than that, you get pretty much everything right away, no matter which account you choose.
The leverage available for forex goes up to 1:1000, for indices up to 1:200, commodities 1:1000, stocks 1:20, and for bonds, cryptocurrency, and futures, the leverage is 1:200.
- Raw Pricing
- Commission Free
- 1:1000 Leverage
- Deep liquidity
- MetaTrader 4 & 5
Raw Spread Account
- Raw Pricing
- Spreads from 0.0 pips
- 1:1000 Leverage
- Deep liquidity
- MetaTrader 4 & 5
Despite the broker’s claims to be a 5-star rated company on Trustpilot with over 30,000 reviews, the truth is much worse. The total number of comments is 3 and all of them are 1-star reviews. BullCopytrade probably thought no one would actually visit Trustpilot to verify their claims.
That said, the comments for this firm don’t look very good. The website is fake, the reviews, regulations, and absolutely everything about this broker is one big fat lie. The audacity of this firm exceeds what we expected, to be quite honest.
Payment Options and Process
The accepted methods include credit cards and cryptocurrency, which is not at all surprising. Brokers like this often use crypto to hide their true intentions and after the trader deposits his money, crypto will be very hard to trace, almost impossible.
Withdrawing your funds is under question, as the process, fees, or even withdrawals as an option are not disclosed. I guess they expect traders to trust them blindly and leave their funds by making terms with never seeing them again.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
In conclusion, BullCopytrade is a fake, unregulated, and scam brokerage with a lot of courage. That is why it’s important to conduct a deep investigation of the company you’re planning to use, no matter if it’s a prop firm, broker, or an additional trading tool.
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What is BullCopytrade?
BullCopytrade is a brokerage firm offering various trading services but has shown deceptive practices and lacks transparency regarding its operations and regulatory status.
Is BullCopytrade Regulated?
No, BullCopytrade claims regulatory oversight by multiple authorities like Seychelles FSA, SEC, ASIC, BaFin, and others, but these claims have been refuted, and there is no legitimate regulatory oversight over this brokerage.
How to Withdraw Money From My BullCopytrade Account?
There appears to be no possibility of withdrawing funds from BullCopytrade. If you have issues, report the scammer to the authorities or companies that can get your money back.