Big Boss foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.bigboss-financial.com/en/account/open, about the company's legal and temporary regulatory information, the company's address 1/F, First St Vincent Bank Ltd Building James Street Kingstown St. Vincent and the Grenadines.
Big Boss Forex Broker
Basic Information
Saint Vincent and the Grenadines
5-10 years Suspicious Regulatory License High potential riskCompany profile
Rating Index
Pro Spread Account
Standard Account
Big Boss Forex Broker - Comprehensive Information Guide
1. Broker Overview
Big Boss is a forex broker established in 2014, operating under the full name Big Boss Financial. The company is headquartered in Saint Vincent and the Grenadines, a popular offshore jurisdiction for financial services. Big Boss is privately owned and offers trading services primarily to retail clients globally, focusing on forex and CFD trading.
Since its inception, Big Boss has grown to become a recognized name in the forex trading community, providing a wide range of trading instruments and account types. The broker operates under the parent company Prime Point LLC and has developed its business model to cater to both beginner and experienced traders.
Big Boss offers a hybrid business model, combining both market-making and STP (Straight Through Processing) execution. This allows the broker to provide competitive spreads and leverage options that appeal to a broad spectrum of traders.
2. Regulation and Compliance Information
Big Boss operates under the regulation of the SVG FSA (Saint Vincent and the Grenadines Financial Services Authority), holding the license number 23356 IBC 2016. However, it is important to note that the regulatory framework in Saint Vincent and the Grenadines is minimal, which raises concerns regarding the oversight and protection of client funds.
The broker does not participate in any investor compensation schemes, which is a significant risk factor for potential clients. Big Boss adheres to KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures, requiring clients to provide identification and proof of address during the account opening process.
Client funds are kept in segregated accounts, which provides an additional layer of security. However, the lack of robust regulatory oversight means that traders should exercise caution when engaging with this broker.
3. Trading Products and Services
Big Boss offers a diverse range of trading products, including:
Forex Pairs: The broker provides access to numerous currency pairs, including major, minor, and exotic pairs. Notable major pairs include EUR/USD, USD/JPY, and GBP/USD.
CFD Products: Clients can trade CFDs on various assets, including indices, commodities, and cryptocurrencies. This allows traders to speculate on price movements without owning the underlying asset.
Cryptocurrencies: Big Boss supports trading in popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and others, providing clients with opportunities in the growing crypto market.
The broker regularly updates its product offerings, aiming to meet the evolving needs of its clients. Additionally, Big Boss provides retail trading services, catering primarily to individual traders. While institutional services are not explicitly mentioned, the broker's hybrid model may appeal to larger clients seeking competitive trading conditions.
4. Trading Platforms and Technology
Big Boss supports the widely recognized MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are well-regarded for their user-friendly interfaces, extensive charting tools, and support for automated trading through Expert Advisors (EAs).
MetaTrader 4: Known for its stability and customization options, MT4 allows traders to implement various trading strategies and manage their accounts effectively.
MetaTrader 5: An upgraded version of MT4, MT5 offers additional features, including improved analytical tools and the ability to trade a wider range of instruments.
Big Boss does not currently offer a proprietary trading platform or mobile application. However, both MT4 and MT5 are accessible on mobile devices, allowing traders to manage their accounts on the go.
The broker operates its servers in secure locations to ensure optimal trading conditions, although specific details about server locations are not disclosed.
5. Account Types and Trading Conditions
Big Boss offers several account types to cater to different trading preferences:
Standard Account: This account requires a minimum deposit of $1 and offers variable spreads. There are no commission fees for trades executed in this account.
Pro Spread Account: Designed for active traders, this account type features lower spreads but incurs a commission of $4.5 per lot traded.
Cryptos Account: Specifically tailored for cryptocurrency trading, this account type allows clients to trade various cryptocurrencies without a minimum deposit requirement.
The maximum leverage offered by Big Boss can reach up to 1:1111, although this may vary based on the account type and trading conditions. The minimum trade size is set at 0.01 lots, making it accessible for traders with different capital levels.
6. Fund Management
Big Boss provides various deposit and withdrawal options to facilitate fund management:
Deposit Methods: Clients can deposit funds using bank transfers, credit/debit cards, and cryptocurrencies. The minimum deposit for the standard account is $1, while other accounts may have different requirements.
Deposit Processing Time: Deposits are typically processed within 0 to 1 business day for credit/debit card transactions, while bank transfers may take 2 to 5 business days.
Withdrawal Methods: Withdrawals can be made via bank transfer, credit card, and other specified methods. Withdrawal requests are usually processed within 2 to 5 business days, but fees may apply, such as a $20 fee for USD accounts.
Big Boss emphasizes that all deposits and withdrawals must be made from accounts in the same name as the trading account holder, adhering to anti-money laundering regulations.
7. Customer Support and Educational Resources
Big Boss offers customer support through various channels, including:
Email Support: Clients can reach out to the support team via email for assistance with their inquiries.
Live Chat: An online chat feature is available on the website for real-time support.
Social Media: Big Boss maintains a presence on platforms like Facebook and YouTube, providing updates and educational content.
The support team operates during standard business hours, but specific service times are not clearly defined. Big Boss offers multilingual support, catering to clients in English, Chinese, and Japanese.
While the broker provides limited educational resources, clients can access market analysis, trading tools, and a FAQ section on the website. However, comprehensive webinars or tutorials may not be available.
8. Regional Coverage and Restrictions
Big Boss primarily serves clients in Saint Vincent and the Grenadines, but its services are available to traders globally. However, the broker does not accept clients from certain jurisdictions, including the United States, Japan, and Iran.
The company maintains regional offices to support its international client base, although specific locations and operational details are not disclosed. Traders interested in opening an account should verify their eligibility based on their country of residence.
In summary, while Big Boss offers a variety of trading services and products, potential clients should carefully consider the associated risks due to the broker's unregulated status and minimal oversight. Always conduct thorough research and due diligence before engaging with any financial service provider.
Big Boss Similar Brokers
Latest Reviews
Tracey
India
BigBoss has been my go-to for high-leverage trading, offering up to 2222:1, which is pretty intense but great if you know how to handle it. Their spreads are super tight, which helps a lot with managing trading costs. I also really appreciate the Negative Balance Protection—it gives a bit of peace of mind. Setting up and funding my account was straightforward, and while I haven't needed much support, it's good to know they're reputed for responsive customer service.
Positive
2024-06-04
Aloysius Rockweller
Russia
The lack of regulation was a major red flag for me, and it did play out in some aspects. The spreads were higher than what I've seen with other brokers, making it less cost-effective for me. Customer support was a bit lacking, and there were times when I needed assistance, and it took longer than expected.
37130
2023-12-06
Big Boss
News
News WikiFX Review: Traders need to be aware of a broker called Big Boss.
Recently, a broker called Big Boss has become a trending topic in forex markets. WikiFX made a comprehension review to help you better understand this broker. We will analyze the reliability of this broker from specific information, regulation, exposure, and etc. Let’s get into it.
太陽の神
Japan
While I was able to place an order through the app, the settlement did not complete properly, and actions that seemed like illicit transactions were also detected. Since the deposit was made by credit card, I reported this to the card company, and the transaction was canceled, with some funds being protected. However, afterwards, I received an email from someone claiming to be the 'Big Boss' saying it was an 'illegal act', with wording that could be interpreted as threatening. Furthermore, frequent threatening phone calls are now being received from an unknown number that doesn't belong to any particular country's international phone number: 8058640110, 18338330110.
Exposure
06-15