360BullFXTrading – Is It a Scam?

| Publish date: 01/02/2020 (Last updated: March 24, 2020 02:48 PM)
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Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

360bullfxtreading - DO NOT TRADE WITH THIS PROVIDER
2.9/10
$100
Minimum Deposit
X

updated 2020

360BullFXTrading claims to be a binary options brokerage offering more than 100 trading instruments. It also claims that it offers a good payout and has a web-based trading platform.

Due to the fact that 360BullFXTrading did not have a demo account, we opened a live account. Upon doing so, we found that this broker offers just one account type with which to trade – the Standard Account.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 Review - Regulated broker
Europe's #1 CFD Trading Platform

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

Website URL: https://www.360bullfxtrading.com/

Founded: 2018

Regulations: Unregulated

Languages: English

Deposit Methods: Bitcoin, MoneyGram, PerfectMoney, Skrill, Western Union

Minimum Deposit: $2,000

Free Demo Account: No

Number of Assets: N/A

Types of Assets: 100+ Tradeable Instruments, Cryptocurrencies

Trading Accounts and Conditions

360BullFXTrading claims to be a binary options brokerage offering more than 100 trading instruments. It also claims that it offers a good payout and has a web-based trading platform.

Due to the fact that 360BullFXTrading did not have a demo account, we opened a live account. Upon doing so, we found that this broker offers just one account type with which to trade – the Standard Account.

The minimum deposit required to be able to start trading is a massive $2,000. There is no information given about the spread or even the leverage levels, so we don’t know what the trading conditions are.

360BullFXTrading – Advantages

There is only one advantage that we found in this broker’s claims. 360BullFXTrading claims that it offers good payouts, however, even this claim is not substantiated by any information on the broker’s website.

360BullFXTrading – Disadvantages

There are so many reg flags that we have discovered with 360BullFXTrading, that at the very outset, we would like to warn traders to keep away from this broker. Here is why:

  • Link to Other Scam Websites

360BullFXTrading is owned and operated by a company called Gembell Limited, however payments processing for the broker seems to be done by Tifiya Group SRO.

Gembell is registered in the Marshall Islands, while Tifiya Group seems to be incorporated in either Slovakia or the Czech Republic (this is a conclusion we reach based on the abbreviation in the company name). Tifiya Group apparently represents the company’s interests in the European Union.

The point here is that these two companies – Gembell and Tifiya – are known to have been behind another website called Pocket Option. Pocket Option, launched in 2018, was revealed as a scam.

This is a clear signal that 360BullFXTrading is just another scam perpetrated by the same party or parties.

In fact, the client agreement used in Pocket Scam is what has been used in the 360BullFXTrading homepage.

Plus500
$100
Minimum Deposit

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

 

  • Lack of Regulation

360BullFXTrading claims to be regulated by the International Financial Market Relations Regulation Center in Russia, also called the FMRRC.

However, FMRRC is actually an anonymous website that is used by unscrupulous brokers to lend a sense of legitimacy to their websites. It is not a government agency at all.

Added to the fact that the broker is using a fraudulent website to claim regulatory legitimacy, none of the entities – 360BullFXTrading, Gembell Limited, Tifiya Group or even Pocket Options – have any license to operate in any EU state. There is no evidence anywhere on the broker’s website that it is a licensed entity.

We recommend that traders only trade with brokers who are regulated by the best financial authorities such as the FCA in the UK or the CySec in Cyprus, to name a couple.

Such government agencies have stringent laws of conduct and protect traders from scammers as well as broker bankruptcy. Added to that reputed brokers also provide insurance that covers losses in case they were to go bankrupt.

None of this protection is available if a trader chooses to trade with an unregulated broker.

  • Extremely High Minimum Deposit Requirement

When we were able to open an account with 360BullFXTrading, we found that the minimum deposit requirement to start trading on the broker’s platform was a massive $2,000.

This is almost 10 times the industry average. Most legitimate brokerages require you to make a minimum deposit of just $100 to $250 dollars.

  • Trading Platform

360BullFXTrading uses a web-based platform that is very poorly constructed. The dashboard looks almost broken, and it offers two different chart types, both of which are disjointed and don’t make much sense.

The lack of a decent trading platform such as the MetaTrader 4 platform is a big negative for us. Trading platforms today give traders much more than just the ability to trade.

For example, the MT4 platform, which is the most popular trading interface in the market today, offers its users more than 100 market indicators that can be customized, automated trading bots, and charting options.

360BullFXTrading, on the other hand, seems to be offering a random set of trading software, none of which are actually directly connected to the broker itself.

  • Suspicious Payment Process

360BullFXtrading has a very strange deposit and withdrawal process. We began the deposit process, but found that the broker could not give us a minimum deposit directly from its dashboard.

Instead, users were required to send the broker an email request, or deposit the sum into a Bitcoin wallet. Cryptocurrency transactions are virtually untraceable, which makes these convoluted transactions seem very suspicious.

None of the traditional deposit methods were available to us. So, if you wanted to trade on this broker’s platform, you would not be able to use your credit/debit card or even do a regular bank wire transfer.

When we attempted to click on the withdraw funds button, we were redirected to a blank page, clearly showing us that this site is a scam, where it will accept your money but will not allow you to take back your funds.

Conclusion

After having checked out all the information mentioned on the 360BullFXTrading website, we strongly advise you to not trading with this broker because it has all the hallmarks of being a scammer.

Not only are the red flags so glaringly obvious, there are tons of client complaints online about how they have been duped by this broker. So, protect yourself and your funds by avoiding this scammer and invest with a regulated and reputed broker instead.

360BullFXTrading

2.9

User Experience

3.0/10

Payment Options

3.2/10

Security

2.4/10

Support

3.0/10

Reputation

2.8/10

Pros

  • Good Payouts (unconfirmed)

Cons

  • Linked to Scam Website
  • Lack of Regulation
  • Extremely High Minimum Deposit Requirement
  • Shoddy Trading Platform
  • Suspicious Payment Process

Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:

Plus500
$100
Minimum Deposit

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

eToro
$200
Minimum Deposit

eToro is a multi-asset platform which offers CFD and non CFD products. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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