Forex trading has gained immense popularity over the years, and with it, the number of Forex brokers has increased as well. While some brokers are legitimate and trustworthy, there are others that engage in fraudulent activities, and forex bullish.com is one such broker that has been accused of being a scam. In this review, we will discuss the company overview, license and regulation status, legal warnings against them, client feedback, and how FXfarmupdate can help if you get scammed.
Company Overview:
Forexbullish.com is a Forex broker that claims to provide its clients with trading services and platforms. According to their website, the company is located in the Marshall Islands, and they have a contact address in Hong Kong. But, when we searched with the address, we found no company in these addresses.
Broker Name | Forexbullish |
Website | https://forexbullish.com |
Location | Not identified |
Regulation | Not regulated |
Warning | FINMA |
Team
A legitimate broker always tries to convince their visitor by showing their team members’ details. It shows how strong their business foundation is. But, we did not find any information about their team. The website does not have the information on this.
Services or Products
Forexbullish.com offers its clients trading services and platforms for Forex, CFDs, stocks, and commodities. They claim to have low spreads and fast execution speeds. But, when we tried to find the details about them, we found nothing. They required us to open an account.
Trading Platforms
Forex bullish provides its clients with the MetaTrader 4 (MT4) trading platform, which is a popular platform used by many Forex traders. The MT4 platform provides traders with advanced charting capabilities, real-time market data, and customizable indicators. But, there was no demo account or demo dashboard to see.
License and Regulations
License Status
Forex bullish claims to be licensed and regulated by the International Financial Services Commission (IFSC) in Belize. However, upon checking the IFSC website, we found that the license they claim to have is not listed on the website. This raises concerns about the legitimacy of their claim.
Regulation Status
We tried other regulatory websites and we found no other regulatory companies provide regulation authorization for them. But, we found a warning against this broker from FINMA.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers is risky because it means that the broker is not regulated, and there is no oversight of their activities. This can lead to fraudulent activities, such as misappropriation of client funds, false advertising, and manipulation of trading data. In addition, if a client has a complaint against an unlicensed broker, there is no regulatory body to turn to for assistance.
Legal Warnings Against forexbullish.com:
There are several legal warnings against forexbullish.com. The central financial authority of Switzerland, FINMA has issued a warning against this broker about their unregulated status.Â
Client Feedback About forexbullish.com
The client feedback about forexbullish.com is mostly negative. Many clients have reported that they were unable to withdraw their funds, and customer service was unresponsive. In addition, there have been complaints about the trading conditions, such as slippage and requotes.
About Trading
Many clients have reported that they experienced slippage and requotes when trading with forexbullish.com. Slippage is the difference between the expected price of a trade and the actual price at which the trade is executed. Requotes occur when the broker is unable to execute a trade at the requested price and offers a new price instead.
About Customer Service
Many clients have reported that the customer service at forexbullish.com was unresponsive and unhelpful. They were unable to get their issues resolved and felt that the company was not trustworthy.
How Can FXfarmupdate Help You If You Get Scammed?
If you have been scammed by forexbullish.com or any other Forex broker, FXfarmupdate can help you. If you get scammed, please submit your case to us and we will provide you with a free consultation. We will also provide you with recovery service recommendations to help in retrieving the lost fund.
Final Thought
Forexbullish.com is a Forex broker that has been accused of being a scam. Dealing with unlicensed brokers is risky, and it is important to do your research before investing your money. If you have been scammed by a Forex broker, FXfarmupdate can help you. It is important to be cautious when trading in the Forex market and to only work with reputable and trustworthy brokers.
