Table of Content
Bontobel Review – Lies Behind Bontobel.Com Broker
Table of Content
As yet another shady brokerage firm, Bontobel does not bring up the name of the owning company. As a matter of fact, an online search provided another result, Wontobel, which is also a scam broker site.
The only company info found online is the fictional address in the UK. Legal documents are shallow and do not give out all the necessary details about trading conditions or license proofs.
An extreme lack of transparency and regulation is enough for a serious investor to give up on the option of dealing with Bontobel. Despite anonymity and no regulation, the phony still shamelessly claims to offer professional service of the highest standards.
Our Bontobel review has set out to bring you the facts and shine a light on the truth of this scamming scheme.
|Minimum Deposit||250 $|
|Spread||From 0.1 pips|
Bontobel – Compliance and Safety
The first discrepancy that stands out the most about Bontobel is the UK address but no proof of being FCA regulated. To be allowed to offer financial services to UK residents, brokers registered there must obtain a license from FCA. Being one of the top-tier and most influential financial authorities in the world, FCA defines the licensing rules strictly and mercilessly. Not being in the FCA register of regulated brokers, Bontobel has certainly not been licensed.
FCA-authorized brokers have to own a hefty beginning capital, provide absolute security to investors’ funds and protect the investments through safety protocols and segregated bank accounts. Another simple fact that makes Bontobel distrustful is the leverage of up to 1:400 that they offer. FCA-approved companies have to restrict the leverage to 1:30 as one of the risk-reducing measures.
The address that Bontobel gives could be just for show, behind which an anonymous offshore company hides. To check if there are any regulations of their business at all, we went through the other lists of licensed enterprises that financial authorities keep.
Not entirely unexpected, Bontobel didn’t show up in the search results anywhere, including BaFin, CFTC, CySEC, ASIC, CONSOB, and CNMV databases.
Since this fraud does sell its services to EEA clients, it would have to comply with AML standards set by ESMA and MiFID. The fact they operate unregulated confirms they cannot be trusted not to misuse the customers’ funds for illegal transactions.
All in all, Bontobel is a newly registered, most probably foreign organization that utilizes illegal practices and accumulates profit by defrauding its investors.
Overview of Trading Platform
It is hardly a surprise to see the most generic-looking web-based terminal used by every other scammer today. Bontobel’s software seems like nothing more than a lazily designed, poor imitation of a reliable platform.
With only instruments presented and several customization tools, this can hardly pass as software meant to bring the best trading experience. There’s no trace of advanced features and options that can actually help traders build their strategy, test it and achieve their trading goals. No facilitating features for better control of investing are present either.
Plenty of licensed brokers provide trading on refined platforms like MT4 and MT5, so choose them over Bontobel and invest safely.
Account Types Offered
To match every trading style, Bontobel has designed a few types of accounts:
- Fixed spreads account from 1.8 pips no commission – $250
- Variable spreads account from 1.5 pips no commission – $250
- Raw spreads account from 0.1 pips +$4 per round- $5000
Separate account categories are VIP accounts that are seemingly bigger, and better and offer more options like a dedicated account manager, comprehensive market analytics, and better spreads. The price for unlocking this account is not given.
The possibility of opening corporate, Islamic, and demo accounts is also mentioned. Accessing the trading area after opening an account and without depositing is an option but the web trader’s functionality is purely fictive.
Over 200 instruments are arranged into major asset groups:
- Forex (AUD/CAD, AUD/CHF, EUR/NDZ, GBP/CAD, USD/CAD, NZD/JPY)
- Stocks (Ford, AT&T, Visa, Boeing, J&J, VF Corp, Adobe, Walmart, Intel, Moderna)
- Indices (CAC40, DAX, Dow Jones, MIB, IBEX, IRTS)
- Crypto (Cardano, Binance, Bitcoin, Chiliz, Polkadot, Ethereum, IOTA, Litecoin)
- Commodities (Natural gas, Cocoa, Sugar, UK Oil, US Oil, Wheat, Coffee)
- Metals (Copper, Palladium, Platinum, Silver, Gold)
Deposits and Withdrawals Process
Although the site describes several ways of depositing, including bank wire transfers and credit/debit cards, only crypto is accepted. Making an account took us to the deposit page to choose the payment option. There we found cryptocurrency depositing as the only accepted funding method.
Withdrawals are taking seven to ten business days to be processed. The minimum withdrawal amount for wire transfers is 500 USD and 100 USD for credit/debit card transfers. In order to withdraw funds from an account credited with a bonus, traders will be required to execute a minimum trading volume of (bonus amount + Deposit) x25.
Bontobel Defrauded Me – How Can I Receive a Refund?
Without giving you false hope or promising miracles, we have to admit that getting a refund in case of cyber theft is not easy. However, the means for it do exist.
Government institutions that are in charge of dealing with these crimes would know what’s the best thing to do. Police are also a reliable source of help, thanks to having the means to track down and legally prosecute criminals.
You are also obligated to seek assistance from your credit card issuer, just so you could prevent the fake broker from accessing your funds.
We are at your service for any additional guidance you might need related to the chargeback, so contact us any time.
As this review has proven, Bontobel is not a reliable broker for investing. There is some crucial information we would like you to remember in case you’re having second thoughts or if you ever encounter a similar-sounding broker:
- Bontobel is not regulated – this fake broker does not possess any license or regulation. It cannot be found in any database of authorized companies.
- The trading platform at Bontobel is a bogus software – limited functionality and unreliability speak volumes about this charade of a trading platform.
- Lack of risk-reducing measures- overly high leverage of 1:400 means risk of huge loss, which puts investments at additional risk.
- Unreachable trading volume – to be permitted to withdraw the bonuses, the client is expected to make a turnover of funds that is 25 times bigger than the original deposit with a bonus added.
FAQs About Bontobel Broker
Is My Money Safe at Bontobel Broker?
Investments are not safe with an unregulated broker that doesn’t implement security standards.
How Long Do Bontobel Withdrawals Take?
Withdrawal needs seven to ten business days to be processed.
What Are The Funding Methods For Bontobel?
The only possible way of funding a trading account at Bontobel is crypto depositing.