Bull Fighters – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Bull Fighters - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% 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
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://bullfighters.net
Founded: 2023
Regulations: Not Regulated
Languages: English, Arabic, German, Polish, Portuguese, Russian, Spanish
Deposit Methods: $150
Minimum Deposit: Unknown
Free Demo Account: No
Number of Assets: 300+
Types of Assets: Forex, Cryptocurrency, Shares, Futures, Raw Materials
Trading Accounts and Conditions
Bull Fighters offers the following types of trading accounts to their customers:
- Trial: The deposit ranges from $150 to $1,000. There is a 10% bonus.
- Standard: The deposit ranges from $1,000 to $10,000. There is a 30% bonus.
- Premium: The deposit ranges from $10,000 to $25,000. There is a 35% bonus.
- Ultra: The deposit ranges from $25,000 to $100,000. There is a 70% bonus.
- Platinum: The deposit ranges from $100,000 to $250,000. There is an 85% bonus.
- VIP: The deposit range is from $250,000 onwards. There is a 100% bonus.
The broker states that their spreads start from 0 pips, and that their leverage is at 1:100. However, in another section of their website, the broker states that their leverage ratios are at 1:500. But then, on their trading platform, that leverage spikes up to a massive 1:2000.
Bull Fighters – Advantages
There are no advantages to trading with Bull Fighters.
Bull Fighters – Disadvantages
Listed below are all the reasons why Bull Fighters is a scam operation and should be avoided at all costs:
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Lack of Regulation
The biggest indicator of this broker’s scam is their lack of regulation. In fact, this broker lies about their regulation status.
On the footer of their website, Bull Fighters claims to be an investment company that is regulated and authorized by the UK SIC 66110 – the Financial Markets Authority. The broker also presents a certificate number (14083373), which has been issued to BULLFIGHTERS UK LTD, and then the broker gives a London, England address.
These claims are all lies. The financial authority that authorizes forex brokers in the UK is called the Financial Conduct Authority. There is no government body called the Financial Markets Authority in the UK! This is a name this broker has made up in an effort to appear legitimate. They are banking on the fact that most traders will not investigate further into their claims.
We decided to check the FCA’s online register to see if maybe this broker had made a mistake on their website regarding the name of the financial authority. There is no record of Bull Fighters or their parent company on the FCA’s database, which means that this broker has lied about being regulated in the UK.
A broker that consciously lies about their regulation status – along with being unregulated – is a scammer.
82% 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
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
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.
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Poor Trading Software
Regulated brokers offer their clients the best possible trading software they can get since this is their main product offering. This means that most of them opt for the MetaTrader 4 or MetaTrader 5 platforms. Together, these two platforms are used by more than 80% of all traders and brokers. This is because these platforms are user-friendly, so much so that even novice traders can navigate around them easily. And for pro traders, there is a wealth of added features – analytical tools, charting tools, automatic trading bots, a massive third-party marketplace with thousands of apps to help with trading, and so on.
Scammers on the other hand, either offer no trading software (and lie about it), or they offer a poorly constructed one that barely functions. With Bull Fighters, it is the latter case. This broker offers their clients a really basic platform that does not do much more than buy and sell a few assets. Since our account was unverified, the current buy and sell prices were not being listed, and we could not place orders either.
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Issues with Trading Conditions
Apart from the trading platform, a broker’s trading conditions are a key service/product. Therefore, brokers need to ensure that they are not only competitive but also profitable at the same time.
With Bull Fighters (as with most other scammers), their trading conditions are incomplete.
While the broker has mentioned the various types of trading accounts they have, there are no trading conditions associated with each of those accounts. The broker only states that they offer bonuses for each account type.
Added to that, the minimum deposit seems to be just $150, but the jump to the next account type is massive, where you need to deposit $10,000!
Spreads are said to be 0 pips, but when we checked their platform, it was at 1.7 pips for the EURUSD pair. While both are within limits, it is the lack of consistency that raises a red flag here.
The leverage ratio is a huge red flag. At 1:100 it is a little risky, but at 1:2000, it is massively risky. Either way, both amounts are illegal in the jurisdiction that this broker targets (the UK and Europe). In these countries, the maximum leverage that the regulators allow is 1:30.
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Issues with Payments
On Bull Fighters’ home page, we see multiple payment processors’ logos: Neteller, Skrill, Visa, MasterCard, Local Transfers and Cryptocurrencies (Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Dash, Monero, and Ripple).
The broker also states (in another section of their website) that they offer more than 45 payment methods. We could not find any others listed besides the logos we have mentioned already.
Added to that, when we accessed their payments page, we found that the deposit menu was inactive. So, there was no way to verify the real payment methods.
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Issues with Bonuses and Withdrawals
We also found issues with the kinds of bonuses this broker offers as well as their withdrawal policy around these bonuses.
While the minimum withdrawal limit is $10, you cannot make withdrawals unless you have completed at least 5 trades. There is also a 5% withdrawal fee.
And for the bonuses, you are not allowed to withdraw unless you have reached a trading volume of 100 to 300 lots, which is an impossible target!
Conclusion
Bull Fighters is a scammer and cannot be trusted.
Bull Fighters
Pros
- None
Cons
- Lack of Regulation
- Poor Trading Software
- Issues with Trading Conditions
- Issues with Payments
- Issues with Bonuses and Withdrawals
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% 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
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
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 is a multi-asset platform which offers CFD and non CFD products. 74% 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.