Table of Content
Bullquote Review: Learn More About This Broker
Table of Content
Bullquote broker claims to provide clients with a pleasant trading experience and high-profit margins. In addition, it claims to have several impressive awards, such as Brand of the Year 2020 or Top Broker 2021.
However, after checking several trading forums, we came across opposing reviews from clients from different regions. Some claim that the company enriched them. Others say that they cannot withdraw funds from their accounts.
Let’s start this Bullquote review and find out some details about the investment scam to understand if it can be trusted.
Regulation of Bullquote and Funds Security
Going to the official Bullquote broker website, you won’t find information about the company that leads this investment project or about the location of the main office. Obviously, legitimate financial companies never hide such data.
Certainly, we could not find any mention of regulation. After meticulous investigation, the only significant thing we found is the mention of the Marshall Islands law in terms and conditions.
In any case, most scam brokers that claim to be regulated by offshore financial authorities are scammers. The Marshall Islands don’t have their own regulator. This indicates that even if the company is based there, they are not subject to reliable financial authority.
Review of Trading Software
On the Bullquote website, we saw the claim that this is a “MetaTrader broker you can trust”. This must imply that Bullquote uses some version of the most popular software in the industry, MetaTrader.
But again, the truth is different. Bullquote only has a simple web-based platform, which is not the web version of MetaTrader.
While the platform has the basic features for placing orders, customizing charts, and application of technical indicators, it lacks the more advanced functionality found in MT4 and in the newer and even more advanced MT5.
What Account Types Does Bullquote Offer?
In regards to the account types Bullquote has, they have stated the following ones:
- Basic – $250
- Silver – $5,000
- Gold – $25,000
- Platinum – $100,000
We will not even speak about the outrageous investment amounts they are asking for. We all know that regulated and legit brokers will let you start as little as $10. So just stay away from this scam broker.
What Can Be Traded on Bullquote Market?
Bullquote has stated they offer the following trading instruments:
Generally speaking, that is a good selection of trading instruments when you are working with a regulated broker that Bullquote is not.
Deposit and Withdrawal Process
On the broker’s website, they have stated the following deposit methods:
- Visa or Master credit or debit
- Wire transfer
We agree this isn’t a clear indication that the firm intends on scamming their investors so that’s why it’s so crucial to do your research. As far as withdrawal is concerned, it seems impossible to withdraw your money from this particular company.
If you have had the misfortune of using Bullquote as a means of making your investments, contact us as soon as possible.
How Do I Get a Refund If I Was Swindled by Bullquote?
If you have already deposited with Bullquote or any other scam broker, you are probably wondering whether you could get back your money. You have already opted for a withdrawal many times and all your attempts have been turned down because scam brokers like this one simply don’t process withdrawal requests as a rule.
In this case, your only option would be filing a chargeback and this is possible if you have deposited with a credit card like Visa or Mastercard. Bullquote claims to accept such cards, bank wire transfers, and some of the most popular eWallets.
While conducting this broker review, we found that Bullquote is an offshore broker that follows no regulations and, therefore, offers no safety for traders’ funds. Not only are they unlicenced, but they have been falsely claiming to be.
The minimum deposit requirement is also allegedly set at $250, which is just too high and almost never seen with a regulated firm. On top of that, their trading platform is just a basic web trader that doesn’t even work properly. Overall, they are not worth your time.
Lastly, the broker doesn’t even offer a demo account for potential traders, which never happens with licensed brokers. A good rule of thumb is to carefully review as many forex companies as possible before you swipe a card. And also remember to always think twice before investing anywhere and make sure you read the reviews first.
FAQs About Bullquote Broker
Is Bullquote A Good Broker?
No, Bullquote is not a good and trustworthy broker as they have no licenses and follow no regulations.
What Are The Funding Methods For Bullquote?
There are three funding methods available on Bullquote which are credit/debit cards, wire transfers, and eWallets.
Does Bullquote Offer a Demo Account?
No, Bullquote does not offer a demo account for any potential clients to try out their services before committing to the live trading account.