Bull Sphere Forex Broker

Risk Warning Online trading involves significant 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. General Information Bull Sphere Review Summary in 10 Points Founded 2020 Registered Country/Region Thailand Regulation NFA (unauthorized) Market Instruments Forex, energies Demo Account N/A Leverage 1:1000 EUR/USD Spread From 0.2 pips (Standard) Trading Platforms MT4/5, cTrader Minimum deposit $10 Customer Support Phone, email, Line, online messaging What is Bull Sphere？ Bull Sphere is an online broker, operated by Bull Sphere Global Limited, offering online trading services in the forex and energy markets through the MT4/5 and cTrader platforms. However, Bull Sphere National Futures Association (NFA, License No. 0548533) license is unauthorized. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance. Pros & Cons Bull Sphere offers some advantages such as low minimum deposit requirements, multiple account types, and a variety of trading platforms. However, there are notable drawbacks, including the lack of regulation, limited payment options, an unclear commission structure, and reports of scams. These factors raise concerns about the safety, transparency, and trustworthiness of the platform. Pros Cons • Multiple account types offered • No regulation • Low minimum deposit ($10) • Reports of scams • MT4 and MT5 supported • Limited trading instruments • Unclear commission structure • Limited funding options Bull Sphere Alternative Brokers There are many alternative brokers to Bull Sphere depending on the specific needs and preferences of the trader. Some popular options include: HotForex - for traders looking for a wide range of trading instruments and competitive trading conditions. City Index - for traders seeking a well-established broker with a strong reputation and a comprehensive suite of trading tools. FXPro - for experienced traders who value advanced trading platforms, competitive pricing, and access to multiple financial markets. Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs. Is Bull Sphere Safe or Scam？ Based on the information provided, Bull Sphere appears to be an unregulated broker with an unauthorized license from the National Futures Association (NFA, License No. 0548533). The presence of scams reported is also a concerning factor. As a result, it is important for traders to exercise caution when considering Bull Sphere as a potential broker, as trading with an unregulated platform carries inherent risks. It is advisable to thoroughly research and consider the available information before engaging in any trading activities with Bull Sphere or any similar unregulated broker. Market Instruments Bull Sphere offers a range of market instruments for trading, including Forex currency pairs and energies. Forex trading allows investors to trade various currency pairs, taking advantage of fluctuations in exchange rates to generate profits. Energies trading involves the trading of energy commodities such as crude oil, natural gas, and heating oil. Accounts Bull Sphere offers four different trading accounts to cater to traders with varying levels of experience and trading preferences: Micro, Standard, ECN, and Classic accounts. Each account type has its own features and trading conditions to suit the needs of different traders. The Micro account is suitable for beginners or traders who prefer to trade with smaller volumes, while the Standard account offers standard trading conditions for regular traders. The ECN account is designed for advanced traders who require direct market access and faster execution speeds. The Classic account provides a more traditional trading experience. With a minimum initial deposit requirement as low as $10, Bull Sphere aims to make trading accessible and affordable for traders of all levels. Leverage Bull Sphere offers competitive leverage options for its clients. The Standard account provides leverage of up to 1:500, which allows traders to control larger positions with a relatively smaller amount of capital. This higher leverage can amplify both potential profits and losses, so it's important for traders to exercise caution and manage their risk effectively. The Micro, ECN, and Classic accounts offer even higher leverage of up to 1:1000, providing traders with the opportunity to maximize their trading potential. However, it's crucial for traders to understand the risks associated with high leverage and use it judiciously, considering their trading strategy and risk tolerance. Spreads & Commissions Bull Sphere offers different spreads and commission structures based on the account types it provides. The Micro account has spreads starting from 1 pip, while the Standard account offers spreads from 0.2 pips. The ECN account boasts competitive spreads starting from 0 pips, and the Classic account has spreads starting from 0.8 pips. It's worth noting that the exact commission charges for the non-Classic accounts are not specified. However, it's important for traders to prioritize the safety of their funds by ensuring that the broker is regulated by a reputable financial agency. While trading costs are a consideration, the overall security and regulatory compliance of the broker should always be a primary concern for traders. Below is a comparison table about spreads and commissions charged by different brokers: Broker EUR/USD Spread Commission Bull Sphere 0.2 pips (Standard) Unspecified HotForex 1.1 pips Zero on some accounts City Index 0.5 pips Varies depending on account FXPro 1.2 pips Zero on some accounts Please note that these figures are indicative and can vary depending on market conditions and account type. It's always recommended to check with the respective brokers for the most up-to-date and accurate information regarding spreads and commissions. Trading Platforms Bull Sphere provides its traders with a range of advanced and popular trading platforms. Traders can choose from the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which offer a comprehensive set of tools and features for analyzing and executing trades. These platforms are known for their user-friendly interface, extensive charting capabilities, and the ability to automate trading strategies using expert advisors. Additionally, Bull Sphere also offers the cTrader platform, which is renowned for its advanced order execution, depth of market information, and customizable trading interface. With these platforms, traders can access a wide range of trading instruments, execute trades efficiently, and take advantage of various technical analysis tools to make informed trading decisions. See the trading platform comparison table below: Broker Trading Platforms Bull Sphere MetaTrader 4/5, cTrader HotForex MetaTrader 4/5, HF App, WebTrader, HFcopy, FIX/API City Index Advantage Web, AT Pro, MetaTrader 4 FXPro MetaTrader 4/5, cTrader, FXPro Edge, FXPro Markets, WebTrader Please note that this table provides a general overview of the trading platforms offered by each broker. It's important to consider additional factors such as platform features, accessibility, and compatibility with different devices when choosing a trading platform. Deposits & Withdrawals Bull Sphere offers a limited selection of payment methods for its clients. Traders can fund their accounts using bank wire transfers and debit/credit cards. However, it's important to note that popular e-payment systems such as PayPal and Skrill are not supported by Bull Sphere. This may be a drawback for traders who prefer the convenience and speed of using these electronic payment methods. On the positive side, Bull Sphere has set a low minimum initial deposit requirement of just $10, making it accessible to traders with different budget sizes. Bull Sphere minimum deposit vs other brokers Bull Sphere Most other Minimum Deposit $10 $100 Bonuses Bull Sphere advertises a $30 withdrawable welcome bonus and a 50% new user bonus. However, it is important for traders to exercise caution when considering such bonus offers. Bonuses are typically not considered as client funds but rather as company funds. They often come with stringent requirements and conditions that can be challenging to fulfill. It's worth noting that regulated and legitimate brokers usually do not offer bonuses to their clients. Therefore, traders should carefully evaluate the terms and conditions associated with any bonus offers and be aware of the potential difficulties in meeting the requirements. It is advisable to prioritize the security and regulatory compliance of a broker over the allure of bonus promotions. Customer Service Bull Sphere provides customer support through various channels, including Line: @bullsphere.th, phone: 097-972-8927, email: support@bullsphere.com, and online messaging. This multi-channel approach allows clients to choose their preferred method of communication for addressing their inquiries or concerns. Additionally, Bull Sphere offers an FAQ section on its website, which can provide quick answers to commonly asked questions. The availability of customer support through multiple channels, coupled with an FAQ section, demonstrates Bull Sphere's commitment to assisting its clients and ensuring their satisfaction. Furthermore, the broker maintains a presence on social media platforms such as Facebook and Instagram, which can serve as additional channels for updates, announcements, and engaging with the trading community. Overall, Bull Sphere's customer service is considered reliable and responsive, with various options available for traders to seek assistance. Pros Cons • Multiple contact options • No 24/7 customer support • FAQ section for quick reference • Lack of live chat support • Presence on social media platforms • No multilingual support for international clients Note: These pros and cons are subjective and may vary depending on the individual's experience with Bull Sphere's customer service. User Exposure on WikiFX On our website, you can see that reports of scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. Our website provides valuable information and resources to help traders make informed decisions. We have a dedicated Exposure section where users can report fraudulent brokers or share their experiences if they have been victims of scams. Our team of experts is committed to addressing such concerns promptly and taking necessary actions to resolve any issues. We prioritize the safety and satisfaction of our clients and strive to maintain a trustworthy and transparent trading environment. Conclusion In conclusion, Bull Sphere presents a mixed picture with both positive and negative aspects. On the positive side, it offers multiple account types and various trading platforms. The low minimum deposit requirement is also appealing to traders. However, the lack of regulation and reports of scams raise significant concerns about the safety and reliability of the broker. The limited payment options and unclear commission structure further add to the uncertainties. Traders should approach Bull Sphere with caution and conduct thorough research before deciding to invest with them, considering the potential risks associated with an unregulated platform. Frequently Asked Questions (FAQs) Q 1: Is Bull Sphere regulated？ A 1: No. It has been verified that Bull Sphere holds an unauthorized National Futures Association (NFA, License No. 0548533) license. Q 2: Does Bull Sphere offer the industry leading MT4 & MT5？ A 2: Yes. Bull Sphere supports MT4, MT5, and cTrader. Q 3: What is the minimum deposit for Bull Sphere？ A 3: The minimum initial deposit to open an account is just $10. Q 4: Is Bull Sphere a good broker for beginners？ A 4: No. Bull Sphere is not a good choice for beginners. Though it offers competitive trading conditions on industry-standard trading platforms, it lacks legitimate regulation.