Bull Sphere Review – Can You Trust This Offshore Brokerage?

Bull Sphere Limited is one of the rare offshore companies that has impressive features. Not only that, but they are also a licensed brokerage.

Therefore, many traders think this company could be the right choice. However, this Bull Sphere review presents you with the other side of the coin. Keep reading carefully!

Legal info: Is Bull Sphere legit?

In the first place, Bull Sphere company is coming from Vanuatu. The main financial regulator is the Financial Services Commission (VFSC). Indeed, the company is listed in their database. Generally, applicants just need to deposit a certain amount of money and get regulated in a few days. However, if you compare it to Tier 1 regulations, you will see the disadvantages. 

With BullSphere firm, you don’t have compensation funds, segregated bank accounts for deposits or guaranteed stop-loss. This is why we always recommend brokers holding ASIC, BaFin, or FCA, so you would enjoy maximum protection.

Who are Bull Sphere clients?

One of the disturbing facts is that the company was registered in August 2022. Overall, the bullsphere.com doesn’t have many restrictions. Still, there are some countries where the company is not operating. 

But the main areas where they run the business are:

• Thailand
• India
• Malaysia
• South Africa
• Laos

Since there are not many reviews are available, be the first one to leave it. Let us know about your experience with this firm.

Leverage, Commissions, Spreads, Fees and Taxes

Another key disadvantage of this brokerage is its leverage. The maximum leverage goes up to 1:1000. However, top tier regulators wouldn’t allow such a thing. Overall, the main reason behind it is the extreme risk investors are taking. In combination with missing negative balance protection, you could end up owing them money.

Sadly, swap rates and commissions are not disclosed. At least, their starting spreads are available. Even though they start from 1 pip, that’s not necessarily what you get.

Bonuses

Once you complete the Bull Sphere login procedure, you can request a $30 welcome bonus. Surprisingly, without a deposit requirement. However, bonus clauses are limiting traders with withdrawals. 

In fact, there is a potentially troubling disclaimer. Bull Sphere forex company requires you to make 3 standard lots in the trading volume before getting a withdrawal. But why would any legitimate company do that? Think about it.

Bull Sphere Trading Features

If you look at Bull Sphere broker software choices, you will quickly understand what attracts traders. 

Many advanced features are a desire of every investor, primarily the ones that are making the trading easier. These may include copy trading, social trading or EAs. But if you can lose all of the funds in the blink of an eye, is it worth it?

Trading Platforms Available

Surprisingly, this brokerage offers all three top software choices. Those are MT4, MT5 and cTrader. Therefore, any trader can find itself a suitable option. Most importantly, all software options are trusted and proven.

Available Trading Assets

One of the biggest disadvantages of this company is a lack of tradeable instruments. In fact, they only offer:

For any other features, you might as well look at other companies. With the current situation in the world, it’s better to find a brokerage with stocks and cryptos available.

Account Types

With all of the account types, Bull Sphere no deposit bonus is not an option. On top of that, there are quite low minimum requirements for all accounts. The difference is mainly hidden in spreads and commissions. 

Anyway, the options are:

• Micro
• Standard
• ECN
• Classic

Mobile Trading App

Generally speaking, all the trading apps depend on the software brokers are using. With this one, you can enjoy all three platforms wherever you are. More importantly, whether you are an iOS or Android fan, they have something for you.

Demo Account

On the negative side, this company doesn’t offer a demo account. Their logic is that the minimum deposit is quite low and everyone could try it. 

However, there are downsides to it. Clients are leaving personal details without knowing what’s going to happen next. For better clarity about the importance of a demo account, read our GoldenrodFX review.

Bull Sphere Withdrawal

As mentioned earlier the company has quite an interesting bonus policy. Therefore, potential withdrawal issues can happen. Not to mention that the company doesn’t have transparent withdrawal fees and processing time.

Since they are offering card and bank transfers, you should be generally safe. Just make sure not to provide anyone with access to your accounts.

Customer Support

Another key fact is that the company has offices in Thailand. Also, the call center number is listed to be there. Working hours are not zone-specified, but you might guess it’s Thailand time zone. The phone support is available from 1 PM – 8 PM.

Besides, you can reach them 24 hours on live chat. In addition, you can get in touch via e-mail and web form if there are no urgent inquiries.

Key Information To Consider About Bull Sphere

In the first place, the company doesn’t have any top tier regulations. Even though the software choice is fantastic, the funds protection features are weak. Primarily speaking of negative balance protection. Generally, too many risks involved, especially if you know of better options it’s not a wise choice to invest here.

Lastly, but most importantly, keep an eye on withdrawals. If you think there is anything wrong during the process, feel free to contact our chargeback experts. You can get the first consultation free of charge. Book your meeting today!

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