BullCFDs-Overview of Minimum Deposit, Leverage, Spreads

General Information & Regulation

BullCFDs, a trading name of Horizon Targets Solutions LLC, is allegedly a forex and CFD broker registered in Saint Vincent and the Grenadines that claims to provide its clients with a variety of tradable financial instruments with leverage up to 1:500 and variable spreads on the Desktop Platform, Web Trader and Mobile Trader trading platforms, as well as a choice of four different live account types. Here is the home page of this brokers official site:

As for regulation, it has been verified that BullCFDs does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.13/10. Please be aware of the risk.

Market Instruments

BullCFDs advertises that it enables traders to trade worldwide financial stocks, indices, numerous equities, 50+ forex pairs and a large number of commodities.

Account Types

Apart from demo accounts, BullCFDs claims to offer four types of trading accounts, namely Basic, Gold, Platinum and VIP. The minimum initial deposit amount is $250 for the Basic account, while the other three account types have much higher minimum initial capital requirements of $25,000, $50,000 and $150,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage offered by BullCFDs is capped at 1:500, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

BullCFDs claims that different account types can enjoy quite different spreads. Specifically, the spread on the Basic account is regular, the Gold account has spread up to 10% markdown, while the Platinum account has a 20% markdown and the VIP account has a 25% markdown.

Trading Platform Available

Platforms available for trading at BullCFDs are Desktop Platform, Web Trader and Mobile Trader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

BullCFDs website says to work with credit/debit cards, bank transfers and wallet transfers. However, the real acceptable deposit method is credit cards, wire transfers, Bitcoin, USDT ERC20 and USDT TRC20. The minimum initial deposit requirement is said to be $250. The minimum withdrawal amount is $50 or $100 depending on the payment method.

The broker also charges 3.5% withdrawal fees, but no less than $30. Different account clients can have different free withdrawal times. For example, the Basic account holders only have only 1 free withdrawal, while the Gold account has 1 free withdrawal each month, the Platinum account has 4 free withdrawals monthly and the VIP account members always have no withdrawal fees.

As for the processing time of withdrawal requests, the broker says it processes and approves most withdrawal requests within 3-4 business days. While it may take additional time for your chosen payment service provider to complete the transfer process.

Bonuses

BullCFDs claims to offer some bonuses. However, the bonus can only be withdrawn when the traders with an amount 1000 times the bonus.

In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Customer Support

BullCFDs‘ customer support can be reached by telephone: +37281072364, +442037610878 (United Kingdom), email: support@bullcfds.com, live chat or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.