Bullexo is an unregulated offshore CFD Broker, that opened on August 17th 2022, and closed on December 8th 2022. Just another example of a scam trading broker.
Who is Bullexo and can they be trusted? They are actually a clone of Wixi, a broker that shutdown when the FCA warned investors that they are a scam! It took the FCA until December 16th 2022 to warn investors about this scam.
For complaints or withdrawal problems, read more here.
Bullexo Review
Our review of this new broker called Bullexo was pretty easy to do, as there are many other white label companies using the same platform. The trading app they are offering investors is called Panda TS. If you search our website you will find many brokers using this platform, and some are actually licensed brokers.
It is only available as a web-based CFD trading platform. You will not find a mobile trading app, and you will not be able to use MT4. Take a look at the screenshot below, and you will see what their CFD trading app looks like.
You will find that they offer you hundreds of underlying assets available for CFD trading. CFD trading is broken down into these categories; Shares, Crypto Currency, Forex Pairs, Stocks, Commodities and Market Indexes.
It is weird that for Bitcoin trading, they do not offer margin. Therefore, there is no reason to trade a Bitcoin CFD, when you are safer buying Bitcoin directly on an exchange.
Bullexo.com’s website and trading platform is available in English. They officially offer five different account types, and the starting minimum deposit requirement amount is a whopping $500. The base currency is set to USD by default, with no ability to change the account currency to EUR. Leverage / Margin trading is available with rates as high as 1:600 depending on your account type.
Depositing into your account is only available to do via sending Bitcoin. The big problem with using Bitcoin is there is no banking protection, and the transaction cannot be reversed.
Is Bullexo a Licensed Broker?
No, Bullexo is not a licensed or regulated broker. Although they display an SVG FSA logo on their website, it doesn’t mean anything.
A physical address for this broker is unknown. Contact phone number is: +442080973880. Whatsapp support is: +447361596529. Customer support email address is: [email protected]. Official website & login is: https://Bullexo.com.
From the SVG Financial Services Authority; “Forex trading brokerage activities are not licensed in St. Vincent and the Grenadines.”
https://svgfsa.com/unlicensed-forex-binary-options/
After we exposed the original Wixi brokers scam, the FCA in United Kingdom warned investors to be cautious, see here.
You can choose to send your money to an offshore broker, but just don’t expect to get it back. Go look at the regulated CFD brokers that are listed here.
Crypto Trading Apps
90% of newbie investors today get hooked into investing via a trading app like Bitcoin Circuit. Just like you, we also found this new broker, because we took the bait and signed up for Bitcoin Circuit. The problem with these fake trading apps is, that most of them don’t make money, and you lose your investment fast.
Fake news websites advertise these trading apps, and illegally use the names of trusted money experts like Martin Lewis.
Take a few minutes and educate yourself on the pitfalls of using an automated trading apps, read this.
Comparing Brokers
Scam Broker Investigator has reviewed hundreds of brokers since 2013, and more than 380 of them already disappeared. Our proven method when reviewing a new broker to see if they are a legitimate or a scam broker is straight forward.
We check to see if the broker is licensed and regulated by the governments regulatory agency. Each country has a financial regulatory agency to monitor online brokers. All online brokers in the United Kingdom must be licensed and regulated by the FCA.
ForTrade is a regulated broker that many investors are using today. Fortrade gives you Free Trading Signals, MT4, and an intuitive trading platform. Plus, they are regulated in Europe, Canada and Australia.
Open a Free Trading Account, Signup here.
If you are an existing investor at Bullexo, please share your experience in the comments.