A quick glance at the Bullden broker’s website confirmed our suspicions. We have no information about the owner or legal jurisdiction, let alone the trading license. Simply put, this brokerage is yet another anonymous financial swindler out to steal money from clients.
This in-depth Bullden review will teach you everything you need to know to avoid falling for their scams.
Furthermore, we strongly recommend that you avoid the fake brokers Cryptos Circus, MilleniumOne, and AlfaBTC.
Is Bullden Really a Scam Broker?
Bullden, as previously stated, is a completely anonymous website. We only know that the company offers Forex and CFD trading. There is no mention of legal jurisdiction, and no official owner would accept responsibility for the broker’s activities; hence you should avoid this scam broker.
We discovered nothing when we checked the registers of Tier 1 license providers such as FCA, ASIC, BaFin, and CONSOB. All of this points to the fact that Bullden cannot be trusted due to a lack of a license.
Reasons to Avoid Using an Unlicensed Broker
Unlicensed brokers can disappear whenever they want. No regulator will take responsibility if you file a complaint. Legal action is difficult to take because we don’t know where the official headquarters are.
Legitimate brokers require Forex providers to set up significant compensation funds and to secure their clients’ funds in segregated accounts. That is not something you will find with scheme firms like Bullden.
So, is Bullden a reputable broker or scam broker?
Bullden is an unregulated, anonymous trading firm. The Belgian regulator FSMA and the Canadian AMF of Quebec have both blacklisted the company.
Two official financial regulators, the Belgian FSMA and the Canadian AMF, exposed the Bullden trading scam.
The FSMA advised Belgians to avoid Bullden because it was a fraudulent trading website. Similarly, AMF stated that bullden.io is an unlicensed domain and that citizens should not entrust their funds to it.
What Are Traders Saying About Bullden?
The short answer is that there is none. Customers are dissatisfied with the level of service provided, the trading platform, and, of course, the inability to withdraw funds.
While everything appears to be fine at first, and you may even see your trading account grow, things will change when you request a withdrawal. According to reviews, this is when your trading account will be suspended, and the broker will refuse to communicate with you further.
Bullden Trading Software
Bullden provides a nice-looking WebTrader with some advanced features. Pending orders, Stop Loss, and Take Profit are all available, which can be very useful.
The real issue, however, is not the quality but the broker’s manipulations. When a trading firm owns the platform, they have back-end access to it and can change market prices. As a result, depending on their end goal, they can make it appear as if you made huge profits or lost everything you invested.
Instead of putting so much money at risk, look for a legitimate broker who offers dependable trading software like MT4 or MT5.
Trading Bonus Scam
The company offers bonuses that become a part of the deposit, securing the trading result, according to the Terms and Conditions. However, they are not withdrawable, nor is the profit, until the required trading volume is met. In lots, this volume equals the bonus amount divided by four.
If a client requests a withdrawal before meeting the required volume, any bonus profits will be forfeited, and the client will be able to withdraw only the initial deposit.
If it appears to be unfair, it is. All of this is part of Bullden’s trading scheme.
What Information Is Available About Bullden’s Trading Conditions?
Bullden’s trading conditions, like the broker itself, are unregulated. T&Cs include a number of hidden fees and malicious clauses, such as one referring to bonuses. If you are considering investing with this firm, we recommend that you first read the legal documents. It should be enough to put you off.
Concerning Leverage and Spreads
For the EUR/USD pair, the spread is stable at 0.4 pips. The leverage, on the other hand, is set at 1:100. The EU and UK regulators have set a limit of 1:30, while the US and Australia have set it at 1:50. This firm puts you at greater risk by providing more leverage.
Minimum Deposit and Unfavorable Withdrawal Terms at Bullden
Bullden does not have a minimum deposit requirement, according to the Account Types section. Clients can deposit as much as they want. This may appear to be appealing, but it is merely a ruse. Once you’ve been enticed to invest, you won’t be able to withdraw your funds due to various hidden terms.
Withdrawals are processed through the trading terminal, but no terms are specified. We know that the firm charges a $50 fee for accounts that are inactive for more than 30 days.
What Methods of Payment Does the Broker Accept?
The company only accepts cryptocurrencies as payment. This is the least desirable option because crypto transactions are difficult to track and funds are nearly impossible to recover. You cannot request a chargeback or cancel the transfer. As a result, it’s an ideal tool for con artists like Bullden.
Bullden Broker Scammed You? – Tell Us Your Story
Please notify us if you are a victim of a Bullden scam. It is not the end of the world, and there are methods to track and trace your funds.
Contact our recovery experts to schedule a free consultation, and we will thoroughly evaluate your case. Don’t let scammers steal your money. Let us all fight together!
