Overview of Big Boss
Big Boss is a broker based in Saint Vincent and the Grenadines that operates without regulation or oversight from any financial authority. This lack of regulation poses a high risk for traders, as there is no government agency overseeing the broker's activities or protecting its clients.
The broker offers various trading accounts, including the Standard Account, Pro Spread Account, and CRYPTOS Account, catering to different trading needs. They provide trading instruments in major, minor, and exotic forex pairs, as well as various cryptocurrency pairs.
Big Boss utilizes the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms known for their features and customization options. Customer support is available through email, a blog, Facebook, YouTube, and Twitter. However, it's important to note that due to the lack of regulation and associated risks, caution should be exercised when considering Big Boss as a trading option. Traders should thoroughly evaluate the potential consequences before engaging with this broker.
Pros and Cons
Big Boss, a broker operating without valid regulation, presents both pros and cons for potential traders. On the positive side, Big Boss offers a variety of market instruments, including major, minor, and exotic forex pairs, as well as various crypto pairs. The availability of different account types, such as the Standard Account, Pro Spread Account, and CRYPTOS Account, caters to different trading preferences. The leverage options provided for both the Standard and Pro Spread accounts can be advantageous for traders seeking higher exposure. Big Boss also offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, known for their extensive features and customization options. However, it's crucial to note that Big Boss lacks regulation, which poses significant risks to traders, as there is no oversight or protection from a financial authority. Additionally, the spreads offered by Big Boss are slightly higher than the industry average. Traders should exercise caution and explore alternative options that offer proper regulatory oversight and protection.
Is Big Boss Legit？
The broker Big Boss is not regulated by any financial authority. This means that there is no government agency that oversees its activities or protects its customers. As a result, there is a high risk of fraud or other financial losses if you trade with this broker.
Market Instruments
Forex Market Instruments:
FOREX MAJOR: Big Boss offers trading instruments in major forex pairs such as BTC/USDT, ETH/USDT, XRP/USDT, BCH/USDT, EOS/USDT, LTC/USDT, NEO/USDT, and UNI/USDT. These pairs involve popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, NEO, and Uniswap, paired with Tether (USDT). Traders can participate in the forex market using these major pairs, with each lot representing a specific quantity of the respective cryptocurrency.
FOREX MINOR: In addition to major pairs, Big Boss also provides trading opportunities in forex minor pairs. An example of a minor pair offered by Big Boss is BTC/JPYT (Bitcoin vs USDT against Japanese Yen). These minor pairs involve cryptocurrencies paired with fiat currencies like the Japanese Yen. Traders can engage in forex trading with these minor pairs, with each lot representing a specific quantity of the respective cryptocurrency.
FOREX EXOTIC: Big Boss also offers trading instruments in forex exotic pairs. These pairs involve cryptocurrencies paired with less commonly traded currencies. However, the provided information does not explicitly mention specific exotic pairs. Traders interested in exotic pairs can explore the offerings of Big Boss to identify the available options.
Crypto Market Instruments:
CRYPTO PAIRS: Big Boss facilitates trading in various crypto pairs, which involve cryptocurrencies paired with Tether (USDT) or Japanese Yen (JPYT). Examples of crypto pairs offered by Big Boss include BTC/USDT, ETH/USDT, XRP/USDT, BCH/USDT, EOS/USDT, LTC/USDT, NEO/USDT, UNI/USDT, BTC/JPYT, ETH/JPYT, XRP/JPYT, BCH/JPYT, EOS/JPYT, LTC/JPYT, and NEO/JPYT. These pairs allow traders to participate in the cryptocurrency market, with each lot representing a specific quantity of the respective cryptocurrency.
About BigBoss Coin (BBC):
BigBoss Coin (BBC) is a token issued by BigBoss, a platform providing various services, with the flagship service being the forex platform. Holders of BBC enjoy several perks offered by BigBoss Group, including optimal conditions for margin trading, fee discounts on spot digital assets trading, participation in Staking, an enhanced affiliate program, and participation in gaming contents such as “Gacha” and IEOs (Initial Exchange Offerings). BBC serves as a utility token within the Big Boss ecosystem, providing benefits and access to the platform's offerings.
Pros and Cons
Account Types
Big Boss offers different types of trading accounts to cater to the needs of its clients. These account types include the Standard Account, Pro Spread Account, and CRYPTOS Account.
STANDARD ACCOUNT
The Standard Account is designed to provide top-class spread and trading execution. It supports multiple account currencies such as USD and JPY. The trade model for this account is NDD STP (Non-Dealing Desk Straight Through Processing). Traders using the Standard Account have access to a wide range of trade pairs, including Forex Majors, Forex Minors, Forex Exotics, and various CFDs. The leverage for this account can reach a maximum of 1111:1, although it may vary based on the account balance. The trade units for Forex lots are set at 100,000 currency units, while CFDs have specific lot sizes for different instruments. The minimum order size for Forex trades is 0.01 lot, and there are no commissions charged for trades executed in the Standard Account.
PRO SPREAD ACCOUNT
The Pro Spread Account is tailored for active users who require narrow spreads for their trading strategies. It also offers the NDD STP/ECN (Non-Dealing Desk Straight Through Processing/Electronic Communication Network) trade model. Similar to the Standard Account, the Pro Spread Account supports account currencies in USD and JPY. Traders can access Forex Majors, Forex Minors, and Forex Exotics with this account type. The leverage can reach a maximum of 1111:1, and the trade units for Forex lots remain the same as in the Standard Account. The minimum order size for Forex trades is 0.01 lot. However, unlike the Standard Account, there is a commission of $4.5 per lot for one-way trades executed in the Pro Spread Account.
CRYPTOS ACCOUNT
For those interested in cryptocurrency trading, Big Boss offers the CRYPTOS Account. This account type is specifically designed for trading cryptocurrencies and is facilitated through the CRYPTOS platform. The CRYPTOS Account allows traders to trade various cryptocurrencies such as BBC, USDT, BTC, ETH, EXC, XRP, RSVC, BXC, JPY, and USD. Traders can engage in spot trading and benefit from a user-friendly and highly functional platform. The minimum order sizes vary depending on the cryptocurrency being traded, and there is no minimum deposit requirement. Trading hours for the CRYPTOS Account are 24/7, providing continuous access to the cryptocurrency markets.
How to Open an Account？
To open an account with Big Boss, follow these steps:
Visit the Big Boss website and locate the “Quick Open Account” button.
Click on the “Quick Open Account” button to proceed with the account opening process.
3. Fill in all the required information in the provided fields. The information includes:
Platform: Select “MetaTrader5”.
Account Type: Choose “JPY Standard 1111:1 & CRYPTOS”.
Name: Enter your first name and last name.
Date of Birth: Provide your birthdate by selecting the day, month, and year from the dropdown menus.
Email Address: Enter your email address (e.g., example@global.com).
Email Address Confirmation: Re-enter your email address for verification.
Nationality/Country of Residence: Select your nationality and country of residence from the dropdown menus.
Captcha: Enter the characters shown in the provided picture.
Client Agreement: Read through the terms and conditions listed in the Client Agreement, which includes information about leveraged foreign exchange trading and the terms and conditions for CRYPTOS. Check the box to acknowledge that you have read and agree to the Client Agreement.
4. Once you have entered all the required information and agreed to the terms and conditions, click on the submit button or any other designated button to complete the account opening process.
Leverage
Big Boss offers leverage options for both its Standard Account and Pro Spread Account. In the Standard Account, the maximum leverage provided is 1111:1. It is important to note that the leverage offered may vary depending on the account balance. For specific information regarding leverage based on your balance, it is advisable to refer to the provided details.
For certain trade pairs such as Forex Exotic, CFD Index, CFD Energy, and N225_JPY, the leverage is fixed at specific ratios. Forex Exotic, CFD Index, and CFD Energy have a fixed leverage of 100:1, while N225_JPY has a fixed leverage of 200:1. Additionally, Crypto CFD has a fixed leverage of 50:1.
In the Pro Spread Account, the maximum leverage available is also 1111:1. This account type follows the NDD STP/ECN trade model and allows trading in Forex Major, Forex Minor, and Forex Exotic pairs.
Spreads & Commissions
Big Boss Financials offers spreads that typically fluctuate between 1.5 and 1.6 pips on the EUR/USD currency pair.
Bonuses & Promotions
BigBoss offers a feature called “Play Gacha with BigBoss Points,” which allows users to earn BigBoss points (BBP) as they engage in trading activities. These points have no upper limit, meaning that the more one trades, the more points they accumulate. The process is hassle-free, as there is no need for any complicated application. By simply initiating trades, the points will be automatically credited to the user's account. These BigBoss points can be later exchanged for credit bonuses or other potential rewards. Additionally, BigBoss provides a deposit bonus of 10% for customers who hold BBC (BigBoss Coin) on their cryptocurrency exchange platform, “CRYPTOS.” When users deposit into their FX account with BBC, they are eligible to receive a credit bonus of 10% based on the deposit amount. There are certain conditions to be aware of, such as a maximum BBC deposit limit per transaction and a maximum credit bonus limit per month. The total BBC deposit amount is calculated by considering all relevant accounts held by users. The applicable exchange rate is determined at the completion of the deposit.
Deposit & Withdrawal
DEPOSIT:
Bank transfer and credit card deposit methods are available for Big Boss. To explore other deposit options, you can log in to your MyPage account and review the available methods. When using bank transfer, it generally takes 2-5 business days for the remittance or transfer to be received, depending on the involved banks. Please note that successful crediting of your remittance/transfer is not guaranteed for certain deposit methods. For other methods, the deposit is typically credited to your trading account within 0-1 business days. If you choose to deposit using cryptocurrencies, it may take 0-2 business days for the deposit to be credited to your trading account.
WITHDRAW:
Big Boss offers various withdrawal methods, including International Bank Transfers and BXONE. Similarly, you can log in to your MyPage account to view the available withdrawal options. When opting for bank withdrawals, Big Boss applies a charge of $20 for USD accounts or 2000 yen for yen accounts. It's important to note that the exact fee may vary depending on the country of the bank from which the funds will be withdrawn. After deducting the handling fee, it typically takes around 2-5 working days for the transferred amount to reflect in your account.
Trading Platforms
Big Boss offers two main trading platforms, namely MT4 (MetaTrader 4) and MT5 (MetaTrader 5).
MT4 is widely recognized as the most popular electronic trading platform among online retail foreign exchange traders. It provides essential indicators for trading, and users can also download newly developed indicators. The platform allows for the installation of automated trading programs called Expert Advisors (EA), enabling automatic trades even when the user is away from the computer. Big Boss offers free downloads of MT4 for both live and demo accounts.
MT5, on the other hand, is an updated version that incorporates all the features of MT4 while introducing enhancements for technical analysis and user experience. With improved speed, an intuitive interface, and extensive customization options, MT5 caters to traders of all levels, from beginners to advanced. Similar to MT4, Big Boss offers free downloads of MT5 for both live and demo accounts, allowing users to enjoy a world-class trading experience on this evolved platform.
The Big Boss MetaTrader platforms (MT4 and MT5) offer various features and functionalities. These include compatibility with Expert Advisors (EAs) and custom indicators, the ability to handle a large number of orders, multilingual support, one-click trading, the creation of custom indicators from multiple time periods, comprehensive technical analysis with over 50 indicators and charting tools, management of historical data, and an internal mailing system. Users can access the platforms through different versions, such as MT4 for Mac, MT4 WebTrader, MT5 for Mac, and MT5 WebTrader.
Notably, Big Boss emphasizes that their MT5/MT4 platforms for Mac offer the same functions as the Windows-based versions, eliminating the need for Boot Camp or Parallels Desktop. Traders using Mac can enjoy a seamless trading experience without requotes or rejections. The platforms support over 50 financial products, including FX, CFD, and futures, and provide features like low spreads starting from 0.1, Expert Advisor (EA) functionality, one-click trading, a wide range of technical analysis tools, and the ability to hedge positions.
Also, Among the available options is the web-based trading platform designed specifically for cryptocurrency trading. This platform allows users to access and trade cryptocurrencies directly from their web browser.
Customer Support
Big Boss provides customer support through various channels, including a blog, Facebook, YouTube, and Twitter. These platforms serve as avenues for customers to seek assistance and gather information related to their inquiries.
On Twitter, Big Boss can be reached at their official account, @fx_bigboss. Customers can follow this account to stay updated on the latest news and announcements. However, it's important to note that the information shared on Twitter may not always be related to customer support directly.
The official Facebook page, accessible at https://www.facebook.com/bigbossfxofficial/, offers another platform for customers to engage with Big Boss. While the page provides general information and updates about the company, it also serves as a means for customers to reach out with their queries or concerns.
Big Boss maintains a YouTube channel at https://www.youtube.com/channel/UCVZCu6abkPtyN85pCe7dqRg/, where they share educational videos and tutorials related to trading. While customer support may not be the primary focus of the YouTube channel, customers can find useful resources and potentially seek assistance through the comments section.
For a more direct approach, customers can send an email to support@bigboss-financial.com. Big Boss aims to respond within the next working day. In case customers do not receive a notification about their Live Trading Account or encounter a delay in response to their inquiries, it is recommended to check the spam folder and verify the correct spelling of the email address provided.
Additionally, Big Boss offers a Frequently Asked Questions (FAQ) section on their website, which provides answers to common inquiries. Customers are encouraged to refer to this section to find relevant information that may address their concerns.
Conclusion
In conclusion, Big Boss is an unregulated broker operating in Saint Vincent and the Grenadines. The lack of regulation means that there is no government oversight or customer protection, posing a high risk of fraud or financial loss for traders. While Big Boss offers a variety of trading instruments, including major and minor forex pairs and cryptocurrency pairs, the spreads are slightly higher than the industry average. The broker provides the MT4 and MT5 trading platforms, which offer features such as compatibility with Expert Advisors and customization options. However, customer support options are limited, and caution is advised when considering trading with Big Boss due to its unregulated status and associated risks.
FAQs
Q: Is Big Boss regulated？
A: Big Boss is not regulated by any financial authority, posing a risk to traders due to the lack of oversight and customer protection.
Q: What are the risks associated with Big Boss？
A: Trading with Big Boss carries high potential risk due to the lack of regulation and a suspicious regulatory license. It is important to be cautious and aware of the potential for fraud or financial losses.
Q: What is the WikiFX score for Big Boss？
A: The WikiFX score for Big Boss is 1.48/10, indicating a dangerous and risky broker.
Q: Where is Big Boss located？
A: Big Boss is located in Saint Vincent and the Grenadines.
Q: How long has Big Boss been operating？
A: Big Boss has been operating for 2-5 years.
Q: What is the website of Big Boss？
A: The website of Big Boss is https://www.bigboss-financial.com/.
Q: What is the influence of Big Boss？
A: Big Boss has a low influence with only 3 brokers in comparison.
Q: Are there any valid licenses for Big Boss？
A: No valid regulatory information is available for Big Boss, indicating a lack of proper licensing and regulatory oversight.
Q: What is the WikiFX score for Big Boss in terms of license index, business index, risk management index, and software index？
A: The license index, business index, risk management index, and software index for Big Boss are all 0.00 according to WikiFX.
Q: What are the other ways to contact Big Boss？
A: You can contact Big Boss via email at support@bigboss-financial.com.
Q: Is Big Boss legit？
A: Big Boss is currently operating without valid regulation, which raises concerns about its legitimacy and the associated risks. It is advisable to approach with caution and consider alternative options with proper regulatory oversight.
Q: What market instruments are available for trading with Big Boss？
A: Big Boss offers trading instruments in major forex pairs, minor forex pairs, and crypto pairs. The major forex pairs include BTC/USDT, ETH/USDT, XRP/USDT, BCH/USDT, EOS/USDT, LTC/USDT, NEO/USDT, and UNI/USDT. The minor forex pairs and specific exotic pairs are not explicitly mentioned.
Q: What account types does Big Boss offer？
A: Big Boss offers the Standard Account, Pro Spread Account, and CRYPTOS Account. The Standard Account has top-class spreads and supports multiple currencies. The Pro Spread Account offers narrow spreads for active traders. The CRYPTOS Account is designed for cryptocurrency trading.
Q: How can I open an account with Big Boss？
A: To open an account with Big Boss, visit their website and click on the “Quick Open Account” button. Fill in the required information, including platform, account type, name, date of birth, email address, nationality, and agree to the client agreement. Submit the form to complete the account opening process.
Q: What leverage options are available with Big Boss？
A: The maximum leverage offered by Big Boss is 1111:1 for both the Standard Account and Pro Spread Account. However, the leverage may vary based on the account balance. Fixed leverage ratios apply to specific trade pairs.
2024-06-04 14:31
2024-03-08 14:36
