Bulls400 is a crypto exchange where users can buy, trade, and hold cryptocurrencies. However, in addition to these assets, the company offers 4 other types of instruments. By the way, we haven’t heard of such an exchange until now. Therefore, we are almost certainly sure that this is a regular CFD broker and a scam in general. We will check this company and reviews about it to prove our point of view.
- Bulls400 General Information
- Registration and Client Portal Review
- Bulls400 Trading Conditions
- Account Types Review
- Trading Platform
- Bulls400 — Deposit and Withdrawal of Funds
- Additional Options
- Is Bulls400 a Scam?
- Legal Information and License
- Bulls400.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Bulls400 General Information
|Address||4 Bartholomew lane, London, EC2N 2AX, United Kingdom|
Registration and Client Portal Review
Bulls400 greets visitors with a huge banner. It says that this is where you will find endless possibilities. What the creators of the site mean by this is quite difficult to understand. In fact, trading opportunities are limited here. The official website looks pretty formulaic. We didn’t see anything new on it. Listing the advantages of the broker and self-promotion occupies the main space. The content is translated into English only.
To register, the client can fill out a small form. It consists of the following fields:
- First and last name
- Phone number
- Country of residence
- Promo code
- Account currency.
Bulls400 doesn’t require you to confirm the email address. This crypto exchange doesn’t even have two-factor authentication. Isn’t it weird?
You will immediately get access to your personal account. The Client Portal, by the way, is just as nasty as the official website. It is also a template. We have seen this from many scam brokers. Only by its design can we say that Bulls400 is not an exchange. On the main page, you will see your balance, profit, successful orders, and transaction history. In the main menu, you can change the settings, fund your account, or withdraw money. Also, you can immediately start trading.
Bulls400 Trading Conditions
Bulls400 offers the usual brokerage services. There’s no single hint that this company provides cryptocurrency trading. The only trading asset here is CFD.
Account Types Review
So the hero of our review is not even an exchange. However, its appetites are impressive. So, for beginners who are just starting their way into trading, the minimum deposit is $10,000. By the way, the broker does not even allow you to test its terminal in demo mode.
Other types of accounts can be founded for 50, 100, 250 thousand, and even a million dollars. Of course, the larger the amount on the account, the more services are offered. Clients with premium accounts can count on daily market analysis, personal manager services, and even increased leverage.
As we have already mentioned, you can only trade CFDs. There are no real assets on this platform. Thus, you will not be able to buy a cryptocurrency and hold it in your wallet. The trading platform also has limited functionality. You can only use the web interface. Bulls400 does not provide downloadable desktop and mobile applications. There are enough indicators. However, the terminal doesn’t look too good. Well, it is unlikely to expect something expensive and high-quality from such a broker as Bulls400.
Bulls400 — Deposit and Withdrawal of Funds
The official website does not indicate how you can fund your account. At least we found this information in the Client Portal. You can deposit using a credit card, Bitcoin, or some e-wallets that work with cryptocurrency. Such a choice cannot be called wide. By the way, it is not indicated at all how quickly applications for money withdrawal are processed.
The broker requires clients to pass the identification. In the Client Portal, the trader will be able to attach scans or photos of the necessary documents. As usual, proof of identity, residential address, and payment details will be required. Bulls400 also has the right to be aware of the financial status of the client. You may be asked to provide documents confirming the legality of the origin of funds.
Bulls400 additional services are real trash. No, seriously, what other broker’s personal manager services cost 10 thousand dollars? And if you fund your account by a million, then you will be invited to a VIP event. What kind of trader needs this at all? Besides, all these signals and forecasts are distributed by people who are not famous in the trading sphere at all. There is not a single mention on the platform about who works on the project team. Absolutely everything here is anonymous! Such reviews and forecasts are worthless. There is absolutely no evidence that Bulls400 analysts are professionals. Even the statement is not presented. This pseudo-broker is just trying to get as much money out of you as possible with its dubious services.
Is Bulls400 a Scam?
A CFD broker, which for some reason calls itself a crypto exchange, fits only into the category of scammers. Besides, these are not all the problems that we have found on this platform.
Legal Information and License
Bulls400 claims to be registered in Australia, although the office is located in the UK. However, legal details are important to us now. There is such a company in the registry of Australia. As you may have noticed, the broker even posted a link to it in the footer. Meanwhile, simply registering a company in Australia is not enough. The local regulator, ASIC, issues a financial services license to such firms. Of course, Bulls400 is not on the list of licensed companies. So, this broker provides its services illegally.
Bulls400.com Domain Info
Moreover, we are sure that Bulls400 is just posing as an Australian company. By the way, this is a fairly common fraud scheme. The first reviews and comments on the Bulls400 appeared quite recently while the original company was registered back in 2015. However, there is no mention of it at all until 2022. The domain bulls400.com was created on November 22, 2022. We are sure that these scammers just found a suitable Australian company, quickly created a website, and now pretend to be a broker.
With the broker’s contacts, it didn’t work out. We don’t really understand why they lie about the Australian registration and specify the English office and phone number. By the way, users in the reviews complain that they cannot contact support. And of course, the Bulls400 doesn’t have any social media profiles. Although apparently in 8 years of work, it was possible to start a Facebook page. However, let’s not forget about the real age of this scam.
By the way, if Bulls400 were a real exchange, it would give its users more guarantees. Since this is an ordinary dealing desk, it disclaims all responsibility. It will not be responsible for any losses and failures in the software either.
Pros and Cons
- Fake legal information.
- No license.
- The short period of work.
- The minimum deposit is too high.
- Dubious additional services.
- No demo.
- Negative reviews.
Frequently Asked Questions (FAQ)
Even though Bulls400 calls itself a crypto exchange, it offers ordinary brokerage services. You can trade CFDs on different assets here.
There are greedy brokers. However, the Bulls400 surpasses even them. To trade on this platform, you will need a minimum deposit of at least 10 thousand dollars.
No, this is a pseudo-broker who pretends to be a real Australian company. In fact, it is unregulated. Therefore, your money will not be safe.