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General Information & Regulation
Bull Sphere is an online broker, operated by Bull Sphere Global Limited. There is no contact number, no address, and no mention whatsoever of regulation, so we can safely conclude that this broker is not regulated, which a major red flag.
At Bull Sphere, there were around 50 forex pairs available for trade, as well as CFDs on silver, gold, and oil. Most broker offer more currency pairs and wider range of CFDs, also including stocks, indices and cryptocurrencies like Bitcoin.
The minimum initial deposit is just $10, seemingly attractive. However, since Bull Sphere is an unregulated broker, it unsafe to start real trading on this platform.
The maximum leverage provided to clients is as high as 1:1000, quite generous. However, trading with an unregulated broker offering high leverage is not a good option, for leverage magnify returns as well as potential risks.
Spreads & Commissions
The spreads announced on almost all accounts seem good, and we found demo ones as low as 0.1 pips on EUR/USD, with a commission of around $9 charged per standard lot round turn. However, traders should note that the trading costs are not as important as the security of your funds, which depends on whether the broker holds a license from a reputable financial agency.
Trading Platform Available
Bull Sphere offers its clients two of the most popular forex trading platforms: the industrys standard MetaTrader 4 (MT4), and cTrader, developed by Spotware especially for ECN trading. The MT4 is preferred by most traders, because it is user-friendly and reliable, supports automated strategies, and offers advanced charting with a number if build-in technical analysis tools. cTrader also has a large set of advanced charting and market analysis tools, such as a number of chart timeframes, technical indicators, trend lines, Fibonacci levels, market depth, etc.
Bull Sphere supports only bank wire and cards (debit or credit) as payment methods. So, its clients are not able to use PayPal, Skrill, nor other popular e-payment systems.
The Bull Sphere customer support can be reached through Line: @bullsphere.th, telephone: 097-972-8927, and email: firstname.lastname@example.org. Besides, Bull Sphere is also on some social media platforms including Facebook and Instagram.
The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.
Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.