Bulls Capital Markets Review
Bulls Capital Markets is a No Dealing Desk (NDD) brokerage offering trading in over 70 currency pairs, and precious metals on the renown MT4 platform. Behind this brand is Bulls Capital Markets LTD, a company incorporated in the UK, which, however, is not regulated by the FCA, nor by any other authority.
Bulls was started in the year 2009 as Money and Capital Markets in the USA. With the changes in the US laws and regulations a few years back, Money and Capital Markets transformed itself as Bulls Capital Markets and moved out of USA.
Despite of the lack of regulated status, Bulls Capital Markets announces on its website that clients’ funds are held in segregated accounts, separate from their corporate ones.
Nonetheless, if you intend to invest a large amount of money, we would advise you to select a forex broker licensed in UK, Cyprus or Switzerland for instance, where regulation is strict and there are compensation schemes set, which will protect your money, in the event that the broker becomes insolvent or ceases trading.
Minimum Initial Deposit
In order to open an account with Bulls Capital Markets, one has to deposit at least $50. This is a reasonably low minimum initial deposit requirement, given that this broker is not regulated. In comparison, offshore broker ForexBrokerInc, requires a minimum of $100 for all account types as a start.
Average spreads & Commissions
Bulls Capital Markets provides floating spreads, which vary by account type. The ones offered on the Mini and Premium account type are far from competitive, starting from 2.5 pips and 1.6 pips on EUR/USD, respectively. Spreads on the other two accounts are tighter, yet average, as trading costs fall within the range of 1.0 – 1.5 pips. ECN account offers spreads starting from 0.6 pips on EUR/USD, plus a commission of $5 per standard lot, so minimum trading costs would be 1.1 pips. What is more, we consider a minimum initial deposit of $1000 for ECN environment a bit high.
In comparison, Belize-based FX Choice offers variable spreads averaged 1.2 pips on EUR/USD on its commission-free account, and typical ECN spreads of 0.5 pips with $7 commission round turn with minimum deposit of just $100 for both account types. For further information, you may look up real-time spreads of 15 leading brokers here.
This broker offers leverage up to 1:500, which is a relatively high ratio. Yet many other brokers provide leverage equal to or exceeding 1:500, including ForexBrokerInc.
Please, be advised that higher leverage levels may not only multiply your earnings on a small deposit, but also lead to heavy losses in excess of initial investments.
Like most brokers, this one supports MetaTrader 4 (MT4), the preferred forex platform of most experienced traders, as it is equipped a number of technical indicators, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades. What is more, the platform’s user-friendly interface allows even inexperienced traders to easily find their way around it. MT4 is available as PC and mobile versions with this broker. Click here to see other brokers that use this trading platform.
In addition, Bulls Capital Markets offers VPS hosting which allows traders to access their own virtual desktop 24/7, anywhere-anytime and run Expert Advisor (EA) algorithms without any interruption.
Currently this broker offers its clients the following promotions:
– Refer-A-Friend bonus from $10 to $500, depending on the initial amount the referred friend has deposited (also some trading volume requirements have to be met);
– Deposit bonuses of up to 30% of the deposit only available for Premium Account holders.
What is more, Bulls Capital Markets regularly launches demo and live account competitions, organizes educational seminars and publishes various forex trading materials.
Methods of Payment
Bulls Capital Markets offers its clients the following payment modes: bank wire, Credit/Debit Cards and via E-wallets such as Neteller, Skrill, OkPay, Estropay, Trasuz and FasaPay.
Accepted deposit currencies are USD and SGD.
Clients of this broker are allowed to withdraw funds up to the initial deposit amount via the same method which used for deposit. However, amounts above the initial deposit can be done via bank wire transfer only.
Bulls Capital Markets Review Conclusion
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