Introduction to Bull Sphere
Bull Sphere is a forex broker which offers cTrader and MetaTrader 4 trading platforms to its clients. Bull Sphere offers to trade forex, precious metals and energy CFDs. Frankly, most of what you see on this companies website can be best described as generic. The about us page highlights a video of a young gentleman showing off his luxuries rather opulently.
Even though the information shown on the Bull Sphere forex broker website can pretty much be summed up in a few sentences, we will explore the companies social media profiles and online reputation. Most of the representation conducted by the forex broker appears to be done via Facebook where they have over 6,000 followers.
About Bull Sphere
First of all, the company doesn´t present any information regarding where it’s incorporated, it’s registered address nor it’s operating address. The one-piece of information about the company that we found on the website was the business name, “Bull Sphere Global Limited”. However, we actually found a company called “Bull Sphere Limited” with an LEI (Legal Entity Identifier) which is incorporated in Vanuata. Judging by the age of the companies Facebook page, Bull Sphere seems to have launched in mid-2018. In fact, most of the information we found about the company was via Facebook.
Thailand Forex Scams
Thailand has been subject to a number of high profile forex scams, such as Share Forex και Forex-3D who have been extensively covered in the Bangkok Post for embezzling huge amounts of money. We previously featured one former cTrader broker MarketeerFX who also caught the attention of local authorities in Thailand. Generally, overseas regulated forex brokers are more attractive to traders in Thailand and other Asia Pacific countries. This is because there is at least some level of credibility, even if investor protection schemes don’t reach their jurisdiction.
Bull Sphere Forex Regulation
While Forex trading is regulated by the BOT (Bank of Thailand), the rules are very rigid and therefore the conditions are not very attractive for retail traders or speculators. Because of this, most of the forex brokers providing services to Thai citizens and ex-pats living in the Kingdom are not formally regulated in Thailand or even not regulated at all. Because of the large amount of attention which forex brokers in Thailand get from local authorities, it sort of makes sense why Bull Sphere wouldn’t want to disclose too much information publicly online. Perhaps the business is conducted offline and face to face.
Unless you have a personal connection to the company, we wouldn’t recommend trading with Bull Sphere. Consider these forex brokers instead;
Bull Sphere Thailand
It would appear that Bull Sphere is focused on the Thai forex market. This was not a hard conclusion to make. Most content on the Facebook page is in Thai, as are the video tutorials and all seven of the people who manage the Facebook page are based in Thailand. Since the company is not formally regulated anywhere in the world, it looks like the company has engaged in some sponsorship activities to build credibility. Bull Sphere appears to support Narasak Wiphong a Thai rally car driver and aspiring contender of the World Rally Championship. Narasak recently drove a Citroën C3 R5 rally car in France, which was wrapped in Bull Sphere branding.
Bull Sphere Forex Trading Conditions
Bull Sphere offers to its trader’s four different types of trading account depending on the needs of their clients. Account types are categorised based on the amount of money a trader is willing to invest. Deposits and withdrawals are only possible through wire transfers and bank cards (debit or credit). This means that the broker does not support the use of popular electronic wallets like Skrill or Neteller.
The Micro account has a minimum deposit of just $10. For this account, the maximum leverage offered is 1:1000. The spreads start from 1 pip. This account is only available on MT4.
The Standard account requires a minimum deposit of $1000. The maximum leverage offered is 1:500. The spreads start from 0.2 pips.
The ECN account requires a minimum deposit of $500. The maximum leverage offered is 1:1000. The spreads start from 0.0 pips.
The Classic account requires a minimum deposit of $100. The leverage maximum leverage offered is 1:1000. The spreads start from 1 pip. This is the only account which doesn’t charge a commission on trades.
Bull Sphere Forex Trading Platforms
As mentioned at the start of the review, this broker offers two types of trading platforms. Many traders will be aware that both of these platforms are very popular in the online trading industry. As always, cTrader is available on Desktop and web, however, for mobile trading, Bull Sphere only offers the Android version of cTrader. The iOS cTrader app is not available with this broker. MetaTrader 4 (MT4) is only available in the desktop version.
Should you Trade with Bull Sphere
Forex scams in Thailand usually get shut down pretty fast and information spreads like wildfire. We do not conclude that Bull Sphere is a scam. But unless you are a resident of Thailand, our advice is to avoid them completely. If you do have a personal connection to a representative of the company, we suggest proceeding with extreme caution. In the meantime, check out our lists of cTrader brokers και international forex brokers.