As can be seen, Bullbit broker transparently reveals its UK address but not its legal name. This simply doesn’t add up. On top of that, we can see many more condition-wise-related problems.
Let’s see if you can recognize those through this Bullbit review. If you already have experienced some trouble due to those issues, feel free to contact us for advice. However, some general advice can also be found in our Cuarto Capital review.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | Bullbit.org; bullbit.net |
| Have Warnings From: | FMA, CONSOB |
| Registered In: | UK (allegedly) |
| Operating Since: | 2018 (allegedly); 2023 (indeed) |
| Trading Platforms: | Web trader |
| Maximum Leverage: | 1:400 |
| Minimum Deposit: | 2.000 € |
| Deposit Bonus: | Available up to 150% |
| Trading Assets: | Cryptos, commodities, indices, shares, forex |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | After multiple warnings and unclear trading conditions, you can’t expect this broker to allow any withdrawals. Since that option is not available, your last option is to apply for a chargeback. For professional assistance and a step-by-step guide, feel free to contact us. |
Legal Info: Is Bullbit Legit Or A Scam?
The easiest way to discover an investment scam is through regulation. To be precise, the lack of it. However, there are more and more companies with offshore regulations. Not the most convenient ones. In any case, it appears that Bullbit investment firm doesn’t have any. Primarily not the one from the Financial Conduct Authority (FCA).
We were checking for possible surprises in ASIC, CFTC, and BaFin registers, but we had no luck. On the other hand, we found something to work with. In mid-December 2023, two well-known authorities published a warning against this firm. Those are Austrian FMA and Italian CONSOB. Now, you are sure they are nothing but a scam.
Who Are Bullbit’s Victims?
In general, it looks like the Bullbit company has its tentacles spread all over the world. Their activities in highly regulated countries are already sanctioned. It’s just a matter of time before more warnings pile up and the company disappears.
Meanwhile, traders from the following countries should be even more careful:
- Italy
- Austria
- United States
- Germany
- India
Regardless of your residence, we encourage you to leave a comment about your experience. After all, we can help other traders avoid this trading trap. But if you need some professional advice or guidance, get in touch directly.
Traders Reviews
One of the clear signs of this fraud is the Bullbit reviews on Trustpilot. In fact, almost 95% of the 30 comments are negative. Mostly, traders have complaints regarding withdrawals, money being stuck in accounts, and frozen accounts.
All these things define scam brokers, indeed. Therefore, if you are in the same situation, let us know. Ultimately, our refund specialists can analyze your case and advise you on the funds recovery process.
Investment Costs With Bullbit
Another key issue is that the company doesn’t reveal any trading costs. Starting with fees, commissions, and spreads. With this in mind, you know they can make it up anytime. Before you even realize it, unexpected fees can wipe off your account balance.
On top of that, they are offering leverage of up to 1:400. Definitely not something legitimate UK brokers would be allowed.
Bonuses
Welcome bonus funds might appear attractive. Yet, if there are hidden intentions behind it, you better not accept it. The best way to see that is through the bonus policy. In this case, the company has a minimum trading volume requirement as the hidden trick.
Unless you make it, you won’t get any withdrawals approved. But the key is that such a requirement is almost impossible to reach. To be precise, 40 times (in standard lots) the bonus amount provided. For example, on a $500 bonus, that would be $2 billion.
Bullbit Trading Features
The only thing worth noticing features-wise are trading signals. Thus, with unregulated brokers, those can’t be trusted. Some advanced options like social and copy trading, Expert Advisors, and auto-trading are not available.
Trading Platform Available
Surprisingly, this company presents itself as reliable and transparent, but its platform is locked. So, if you are not registered, you won’t be able to check the features.
But we were not bored to do that. It paid off. We found this brokerage is only offering highly suspicious web-based platform. In general, nothing that can be compared to trusted options like Meta Trader or cTrader.
Available Trading Assets
Usually, tradeable assets don’t make much of a difference when choosing a broker. Still, more options are always favorable. With Bullbit broker, you can choose between:
- Forex – AUD/NZD, EUR/HUF
- Commodities – gold, crude oil
- Shares – Walt Disney, Amazon
- Indices – ASX200, CAC40
- Cryptos – ETH, XRP
Account Types
In general, Bullbit account types don’t reveal many relevant things. Apparently, traders can get ensured transactions, higher leverage, better support, and a loyalty program. But only if they deposit more money. Otherwise, you are worthless to them.
Anyway, the options are:
- Basic – 2.000 €
- Standard – 5.000 €
- VIP – 15.000 €
- PRIME – 50.000 €
Mobile Trading App
Another key disadvantage of this brokerage is unavailable mobile apps. Therefore, iOS and Android users can expect a lot of trouble trading on a web browser. To see why trusted mobile apps can make a huge difference, read our Investing X review.
Demo Account
Since the company is hiding platform details, we didn’t expect a demo account either. We were right, and such an option is not available. This tells you there would be some hidden costs or features for sure.
Education
If you want to learn more about trading, you can apply for Bullbit courses. There are beginner and advanced options, plus some video lessons. Also, traders can learn more about technical and fundamental analytics, cryptos, and trends.
Bullbit Withdrawal
Important to realize is that the Bullbit platform doesn’t reveal withdrawal processing time and fees. That’s quite disturbing, and nobody should accept such conditions.
Some problems expected during the Bullbit withdrawal procedure are non-existent fees and taxes, verification problems, and AML laws. If you experience any of these, you should apply for a chargeback immediately.
Customer Support
As can be seen, only traders with deposits higher than 50.000€ can have 24/7 support. All others can get assistance only during work days. Even though some good contact options are available, it’s hard to believe those are reliable. In any case, you have phone, e-mail, and web contact forms available.
Key Information To Consider About Bullbit
Besides all the hidden things like fees, commissions, and costs, there’s a shady platform as well. Not to mention the company’s lack of regulations and multiple warnings issued against them. Therefore, not a single reason to trust Bullbit scam broker.
But if you did for some reason, don’t bother. Our refund specialists can advise you step-by-step about the chargeback procedure. If you are worried about costs, don’t be. Our first consultation is free of charge. Book yours now.
FAQ Section
What is Bullbit?
Bullbit is an anonymous investment firm offering FX and CFD trading services allegedly from the United Kingdom.
Is Bullbit Regulated?
No. The company doesn’t have any valid licenses. Instead, they have warnings from FMA and CONSOB.
How to Recover Money From a Scam Broker?
The easiest option is always a chargeback. But if that’s not available, you can use alternatives. For a detailed explanation, feel free to contact us.
