Bullgeko Review – Can it offer any Value?

Bullgeko Review

Even if you have zero trading experience, you have probably heard of the financial markets and the lucrative opportunities they offer. After all, some of the richest people in the world have made their fortunes via trading and this makes it an intriguing activity.

Furthermore, its capability of helping you make solid returns in a shorter time span, as opposed to other investment options, has also contributed to its popularity. Therefore, it is not surprising that online brokers are in high demand, but this Bullgeko review is meant to indicate that not all companies are cut from the same cloth.

When you start your quest of finding a good brokerage that can offer you some value, you are going to be flooded with numerous options. One after the other promises to be the best brokerage for your trading needs and offers attractive features and services.

Of course, you cannot just believe everything they say because no company is ever going to tell you its own flaws and issues. But, you have to bear in mind that it is not just good, mediocre and low quality services you need to worry about in terms of brokerages.

You will find that there are plenty of platforms that are fraudulent and fake. Indeed, the number of scam brokers has risen exponentially because of the amounts of money involved and this indicates that you have to proceed with caution to avoid getting conned.

Those times are gone when all it took was just one glance to discover a shady company. These days, they are well-designed and attractive, which means you have to do a complete evaluation for finding the answer. It is the same for Bullgeko that may claim to be a reliable forex broker, but needs to be evaluated. Let’s get down to it.

Licensing and regulation

The easiest way to distinguish between a trustworthy and professional broker and an unreliable one is via their licensing and regulatory status. The former are those that have a license and are regulated by a third-party authority, while the latter do not have a license and do not follow any rules.

Even though the latter may offer you very lucrative conditions and features, you should not fall into their trap because this is how scammers lure you in.

Bear in mind that scam and fraud brokerages do not have a license and will try to conceal their true nature as much as possible. This will become apparent with Bullgeko because the company does its level best to hide the fact that it is operating without a license.

You will not be able to find an address on its website, which usually indicates what regulatory body should have authorized the firm.

This is because Bullgeko is operating from the Marshall Islands, a fact that you will discover only when you thoroughly scour through its Terms and Conditions.

Why is that not a good thing? This is an offshore jurisdiction that does not regulate its forex industry, which means there is no oversight. The companies can vanish anytime, make their own policies and not have to worry about any accountability. Does that sound like a company that can offer value? Of course it does not.

Trading bonuses

Many traders who are new to the online trading space will be very attracted to the lucrative bonuses that some brokers offer. However, you have to bear in mind that when something sounds too good to be true, it usually is and the same applies to trading bonuses. There was a time when they were quite popular, but things have changed and now these are banned in most jurisdictions.

Regulatory authorities were focused to impose a ban on this practice because the bonuses came with strings attached. These were meant to exploit traders and were downright malicious, so they were banned. As far as scam and fraudulent brokerages are concerned, they offer generous bonuses, as Bullgeko does, and this is aimed at drawing people in.

As for the conditions, they are added for preventing clients from making withdrawals, which allows the scammers to keep your money. This is no different in the case of Bullgeko because when you check their bonus policy, you will discover that they have asked you to achieve a specific turnover before you will be permitted to withdraw your money.

The problem is that fraudulent brokers like Bullgeko deliberately keep the turnover requirement so high that it is impossible to fulfill, which means your money will be gone for good.

Trading software

A broker’s trading software needs to be evaluated thoroughly because it is the feature you use for executing your trades. It also comes with the technology and tools needed for making profitable trades, so it is not something to be compromised on. There are some good trading software that exist in the market and every brokerage is free to offer whatever platform they want.

A look at the Bullgeko trading software shows that it has absolutely nothing special to offer to you. It is rather pitiful and comes with basic functionalities. The web trading platform is lacking in the advanced tools and sophisticated technology that professional platforms like the MT5, or cTrader, can offer to their users.

Trading conditions

The trading conditions at Bullgeko are downright terrible and will not allow you to achieve your profit goals. This is because their spreads start at 2 pips for FX majors, which shows that they do not have tight spreads like some other renowned companies.

Apart from that, you will not find any information about the leverage ratios that Bullgeko offers and this is also a big concern.

Payment options

The fact that you can only make payments on Bullgeko via Bitcoin alone is yet another problem because crypto payments are a favorite of scammers due to their lack of chargeback. This means there can be no refunds, as bitcoin payments are final and your money will be lost.

Final Word

It is apparent that Bullgeko cannot offer you any value in the long run and you should not open an account with this broker.