BullQuote was a new CFD broker, that opened in October 2021. They are now out of business.
Like many offshore brokers, they are marketed via get rich quick trading apps like MetaProfit. For complaints or withdrawal problems, read this.
BullQuote Reviews
Our review of this broker finds that they are offering their new Forex & Crypto investors a very basic, web-based trading platform. The software is 100% web based and it offers CFD (Contract for Difference) trading on the full range of underlying assets. They do not offer the popular trading apps of MT4 or MT5. Also, there are not any mobile trading apps available.
You will find Forex, Commodities, Stocks, Indexes and Crypto Currencies. Crypto listed for trading including: Ripple, Bitcoin, Litecoin, Dash, Ethereum, CVC, XEM, OMG, ZEC and STR. When analyzing their trading conditions, we can see that they are not realistic, since they show spreads of only $0.01 (a penny) on Bitcoin. Four account types are shown, with the minimum deposit requirement starting at $250 for the smallest account.
Like many offshore brokers, Bullquote offers bonus money for new accounts. A savvy trader will read their terms and conditions page and see “Bonuses are only available for withdrawal after trading 30 times the deposited amount + the bonus value”. Bonus money is a major reason for complaints by investors when they want to withdraw their funds, read why.
Get Rich Quick Scams
Hundreds of “Get Rich Quick” scams focused on Crypto Currency trading, are now permeating the online world. We came across this broker after we signed up for an account with MetaProfit. You probably also received a phone call within 10 minutes of signing up from a boiler room agent.
Before you become the next victim of a scam, educate yourself how these scams operate, read more here.
Is Bullquote a Legit Broker?
No, Bullquote is not a legit broker, since they are not licensed or regulated by the government.
According to their terms and conditions page, they are based in the Marshall Islands which is a hotspot for offshore brokers. They list a contact phone number in United Kingdom of: +442045489842. Contact email address is: [email protected]. Official website is: https://Bullquote.com/.
The way that the Scam Broker Investigator reviews a new CFD Forex or Crypto broker to determine if they are legit or a scam, is by checking for a valid brokers license. Legitimate CFD brokers must be licensed and regulated in the United Kingdom by the FCA or in Australia by ASIC.
Compare Regulated Brokers
Who is the best CFD broker for a new investor? Smart investors always use a broker that is licensed and regulated in their country. You can see our list of Best Regulated Brokers.
If you are already investing with the brokers at BullQuote, please share your experience with other readers in the comments section below.