While GulfBulls claims to be a UK-based broker registered to deal with commodities and securities, it seems it has no license for its business. And operating without FCA authorization in the UK means you’re a scheme. How can we be so certain? Read our GulfBulls review, and you’ll notice all the red flags.
On top of that, we want to invite you to read our recently updated reviews of the scam brokersTrade-Union.pro,Soltechx and UnicoFX. Be careful with these brokers.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | gulfbulls.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Gulfbulls Ltd |
| Headquarters Country: | UK |
| Foundation year: | 2021 |
| Supported Platforms: | MT5 |
| Minimum Deposit: | $150 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | No |
| Accepts US clients: | No |
What About GulfBulls Regulation?
GulfBulls is a brand of GulfBulls Ltd, a firm registered in the UK in 2021. Since the nature of the business is “Security and commodity contracts dealing activities,” this firm needed to get an FCA license to regulate its operations.
Why Must a Broker Have a License?
When it comes to UK-based firms, FCA provides a high level of insurance and security. The regulator obligates financial firms to form compensation funds worth 730,000 GBP to reimburse potential victims. Furthermore, FCA limits leverage to 1:50 for the Forex market and victims have access to the FSCS fund, which may pay compensation of up to 85,000 GBP in case of issues.
Now that you know the value of regulation, you can understand how big of a disadvantage it is the fact that GulfBulls runs its business unregulated.
Traders Reviews About GulfBulls Scam
All the reviews we’ve had a chance to see are directed toward complaints clients filed with the FCA. It seems that the broker is misleading clients to believe the firm is licensed. Since GulfBulls is an illicit scheme, the FCA cannot help victims, so they’re left to seek a way to retrieve their funds alternatively.
Supported Trading Platforms – Available Trading Software
The broker provides MT5, one of the best platforms out there.
MetaTrader 5 Platform
While the platform may be considered a plus, here’s the minus right away. Instead of following FCA rules about leverage, GulfBulls enables it to be up to 1:500. Yes, MT5 is the most advanced platform, the successor of the MT4 with a broad offer of charts and indicators. Still, you cannot make any profit under unregulated trading conditions.
High Leverage – High Risks
Enabling leverage of up to 1:500 means exposing your funds to 10 times higher risk than any reasonable regulatory body would allow. Despite offering tremendous investment tools such as MT5, GulfBulls annulled it all, proving it’s an illegitimate cyber-scam. Don’t trust it with your money since you’re risking losing everything you have.
Everything About GulfBulls Trading Accounts
From all we know, GulfBulls has no account types. The firm requires you to deposit a minimum of $150 for the Live account, and you can start trading. Most brokers are forming some sort of a list, giving you more perks as you increase the investment amount. It seems that the broker didn’t care that much, being aware that once you make your deposit, you will be dragged on and on, and once you request a withdrawal, your account access will be denied.
Live Account
To open a Live account with GulfBulls broker, you must submit your personal details and banking information and explain your previous trading experience.
GulfBulls Range of Trading Instruments & Markets
The company offers trading with the following trading instruments:
- Currency pairs
- Commodities
- Indices
- Shares
- Cryptocurrencies
At the same time, avoid scammers such as Warden VC,FPC Markets andSungerFX. If possible, tell us about your scam experience.
GulfBulls Deposit and Withdrawal Methods
If we trust what’s written on the GulfBulls website, the broker accepts the following payment methods:
- Visa card
- Bitcoin
- China UnionPay
Since there’s no MasterCard or wire transfer, we’re unsure if the list is complete. However, same methods are available for withdrawals as well. The company says to offer a 100% bonus, but there’s no Bonus Policy or Withdrawal Policy listing terms and costs.
Scammed by GulfBulls Broker? – Let Us Hear Your Story
If you fall victim to the GulfBulls scam, let us know. Our chargeback specialists have assisted many with the refund, and we’re here to assist you too.
But What Is A Chargeback?
A chargeback is a way for the bank to recover stolen funds and recover your money. It’s a time-limited money-back solution, we need to act right away. Book your FREE consultation, and let’s start the process now!