Bontobel (formerly Wontobel) is a new unregulated Crypto CFD and Forex Broker, that only opened on January 6th 2022.
They claimed to be located at Markt 4, 09484 Oberwiesenthal, Germany, but do not show a German brokers license. Now they are showing a fake address of; Ground Floor, Unit 24, Grand Central, Birmingham B2 4BF, Great Britain. This is the address for Natwest Bank.
No phone number is listed for the brokers, just an email address of: [email protected]. Official website is at: https://Bontobel.com/.
If you are having problems making a withdrawal from this broker, read this.
Bontobel Broker Reviews
Our full review of this new broker called Bontobel finds, that the trading app their investors are using is a white label. The trading platform is a very basic web-based CFD software, and you will not find an option to use MetaTrader 4, or a mobile trading app. Look at the screenshot shown below, and you will see what their web-based trading platform looks like.
We have reviewed many brokers that are using this trading platform, and they all have the same thing in common. They are all offshore, and they are setup to receive leads from get rich quick trading apps. We registered for a fake trading app called YaunPay, and this is how we ended up with an account at this broker. Many trading apps are now promoted on Fake News Websites and they are using fake testimonials of famous celebrities.
Day Traders and Investors at Bontobel will find hundreds of underlying assets available for CFD trading including; Shares, Crypto Currency, Forex Pairs, Stocks, Commodities and Market Indexes. The minimum deposit for a new trading account is officially $250. Their website is available in English, Polish, Spanish, French, German and Russian.
Before you also become a victim of a get rich quick scam, read this article.
Is Bontobel a Legit Broker?
No, Bontobel is not a licensed or regulated broker. Although they accept investors from the European Union, they do not have a license from FSMA, FMA or BaFin.
At the Scam Broker Investigator, we use a quick and easy approach to determine whether a CFD broker is legitimate or a scam. We check if the broker is licensed and regulated by any one of the following government regulators; FSCA South Africa, FCA United Kingdom or ASIC Australia. All Forex & Crypto brokers, no matter where you live, must be licensed and regulated by the financial regulatory agency in your country.
You can find popular Forex brokers that are licensed and regulated listed here.
Compare Popular Brokers
Investor have so many Crypto Brokers and Forex Brokers to select from today, and therefore, you should first try one of popular licensed brokers.
If you are currently investing at this broker, please share your experience in the comments below.