BullGeko seems to be another fraudulent crypto platform. The brokerage offers to trade and stake digital coins yet has no financial regulations. It means that all the services are unsupervised, which can lead to financial losses. Read our BullGeko review and find it all out.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | bullgeko.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | Marshall Islands |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $0 |
| Cryptocurrencies: | Available – BTC, ETH, XRP |
| Types of Assets: | Cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
Is BullGeko a Licensed Broker?
BullGeko’s Terms and Conditions indicate that the company is based in the Marshall Islands, and every issue will be resolved in front of the Marshall Islands courts. Knowing this, we’ve checked the GLOFSA register. While GLOFSA may be a loose regulator, it’s still there. However, BullGeko has never entered their register.
Thus, we’re unsure who’s behind this website or if it’s really based in this offshore country. All we know is that it provides unregulated financial services.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers have numerous issues. Most of them don’t provide negative balance protection or any kind of a money-back guarantee. Once they shut down the website, clients have to seek justice on their own without being able to file a complaint with a regulator.
In addition to the above, we strongly advise you not to invest in TradeBaionics, Supreme Capital and HubbleBIT fraudulent brokers.
So, Is BullGeko a Good Broker or a Scam?
BullGeko is an unregulated offshore trading firm. While the initial deposit of $0 may lure you into investing, you should know that the firm has many negative reviews.
Traders’ Experience With BullGeko
BullGeko seems to be advertising through fraudulent ads showing Elon Musk opening specialized platforms for the Australian and Canadian markets. Once clients signed up, they were pressured to invest more, and the account manager manipulated their trades so everything would look profitable and promising. Once big money was invested, these same account managers simply disappeared.
Don’t fall for the BullGeko scam. The broker is not honest, there’s no specialized platform, and your money is at risk.
What Platforms Does BullGeko Offer? – Available Trade Software
BullGeko offers only proprietary WebTrader. Thus, it’s quite easy to manipulate market prices and show profits or losses according to their needs. Fraudulent brokers usually use this tactic to pressure clients to invest more or to make them believe that all the funds are lost once they ask for a payout.
We advise you to find a legitimate investment firm offering reputable trading software if you want to start trading. With MetaTrader, for example, you’ll be safe from price mess, and you’ll have a vast number of trading tools.
Mobile App for Android
The company has a mobile app for Android based on WebTrader. However, it can also be manipulated.
The Importance of Legal Documents
Legal documents are your proof that the broker is trustworthy and reliable. Or, you can find out the opposite while reading them. If you’re missing basic details, like we have nothing on the company owner with BullGeko broker, you should know that something is not alright.
Always read the Terms and Conditions and Privacy Policy and find all the information regarding the broker and its regulations. Furthermore, inform yourself about the Bonus Policy before it’s too late and you cannot withdraw your money.
All About BullGeko Accounts
There are four BullGeko account types. They are:
- Classic
- Silver
- Gold
- VIP
As you can tell, minimum deposits are not specified. Accounts differ in different charts, trading tools, education sessions, and APY for coin staking.
BullGeko Broker – Countries Of Service
Our review has shown that BullGeko mainly operates in:
- Australia
- Canada
- New Zealand
- UK
- Netherlands
Also, remember the names of the AltoFX, Arkcoin and AGM Markets trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
BullGeko Awards – Company Achievements
Another trademark of fraudulent trading firms is fake achievements. If you see a company exaggerating the number of profits, trades, or customers, you should know that you’re being scammed.
BullGeko claims to exist since 2013, even though the website was registered in 2021. Furthermore, the company claims to have over $500 million daily, over 12 liquidity providers, and offices in 3 countries. Since this is not elaborated on, you know that everything is fake.
BullGeko Range of Trading Instruments & Markets
BullGeko is a Bitcoin-based trading platform offering crypto trading. Customers can trade in the most popular digital coins, including:
- Bitcoin
- Ethereum
- Ripple
- Litecoin, etc.
While some fraudsters exploit customers’ lack of knowledge when it comes to crypto trading, you should know one thing. Every crypto trading provider ought to have a license for CFD trading. And BullGeko doesn’t have one.
What Trading Terms BullGeko Provide?
We faced a significant lack of information when we tried to check BullGeko’s trading terms. Here’s what we know.
Minimum Investment Amount
BullGeko has no minimum deposit. Basically, you can start with any amount from $0. As you can imagine, your account manager will keep pressuring you to invest more all the time until your life savings are with this trading firm.
About Leverage
Regulators allow leverage of 1:2 for crypto trading. BullGeko didn’t specify anything besides the fact that customers can get leveraged profit. Thus, we believe that they didn’t follow the regulatory directive and that the leverage is higher than permitted.
BullGeko Deposit, Withdrawal Methods, And Fees
The company accepts only one payment method – Bitcoin. This is the best solution for scammers since crypto transactions are virtually untraceable, and chargeback is not permitted. Also, you should know that there’s a way to find your stolen crypto.
As per fees and withdrawals, this trading firm didn’t provide us with any information, as expected. Anyway, withdrawals are not an option.
Bonuses and Referral Program – A Fraudulent Methods
BullGeko offers deposit bonuses and referral program bonuses for those who bring their friends and family. However, this money is not free. The Terms and Conditions state: “All accounts with bonuses are required to meet trading turnover before withdrawal (deposit+bonus x30 = withdrawal).”
Therefore, for the bonus of $200 on the same deposit, you will have to have a turnover of $12,000.
Scammed by BullGeko Broker? – Let Us Hear Your Story
If you or someone close to you was scammed by BullGeko, let us know. Our recovery experts are here to assist you in tracing your lost crypto and recovering the funds. While this may seem like a mission impossible, we have the knowledge and the right tools.
Contact us via online chat to book a free consultation and let’s start the process before it’s too late.