BullTrades has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Pluritec. We’ve received over 6 complaints against BullTrades.
BullTrades transparency in ownership and complaint handling is grounds for concern. BullTrades, which works through cryptocurrency investments and lacks transparency in its remuneration system, prioritizes affiliate recruitment above legitimate investments. Concerns grow as there is no confirmation of its AI-based trading promises, pointing to a possible Ponzi scheme facing financial risks.
Key Takeaways
Is BullTrades Regulated? Do They Have a License?
In the fast-paced world of digital investing, the promise of instant rewards can frequently cloud the judgment of even the most competent investors.
BullTrades is one such website that has drawn attention and criticism. A closer look reveals troubling truths that potential investors should be wary of, despite its appealing promises and dazzling claims.
BullTrades raises instant red flags by failing to offer any information about its ownership or executives while registering its website domain as private.
This lack of transparency in an MLM (Multi-Level Marketing) business should serve as a warning sign to potential investors. Before becoming involved, it is vital to understand who is behind a financial platform, their expertise, and their track record in the industry.
The lack of regulation or the presence of poor regulation is a huge red flag. It means BullTrades is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of BullTrades, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at BullTrades
The major business strategy of BullTrades is bitcoin investments, with affiliates able to invest varying sums for guaranteed returns.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
At first look, the compensation structure, which is based on investing in cryptocurrencies and earning daily returns for a certain period, appears enticing, but it lacks transparency and verifiable evidence.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
BullTrades Customer Service: Do They Handle Complaints Well?
The way a genuine firm handles complaints is an important part. Unfortunately, BullTrades does not disclose any concrete information on how the company handles client complaints or grievances.
This lack of visibility casts doubt on the platform’s accountability and commitment to resolving consumer issues.
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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BullTrades Reviews: What Do Others Say?
BullTrades is a system focusing mostly on affiliate membership recruitment rather than true investment opportunities due to the lack of tangible products or services to sell and an emphasis on recruiting affiliates.
Examining internet reviews and feedback presents a troubling picture, with many consumers expressing mistrust and displeasure with their BullTrades experiences.
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like BullTrades tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust BullTrades reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of BullTrades, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like BullTrades enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “BullTrades reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising BullTrades.
You should always look out for consumer complaints. In the case of BullTrades, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about BullTrades? You can share your complaint in the comment section or submit an anonymous tip.
Is BullTrades Legit Or Scam?
BullTrades claims to use artificial intelligence (AI) for FX trading, although there is no evidence of such technology or any money made as a result of it.
The financial basis of the site is unsustainable, casting major doubt on its validity. Furthermore, the structure resembles that of a Ponzi scheme, in which fresh contributions are used to pay returns to existing investors, boosting the possibility of eventual collapse.
BullTrades is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind BullTrades can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust BullTrades?
All the evidence suggests that BullTrades is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is BullTrades a scam?
Can I withdraw money from BullTrades?
Where is BullTrades Located?
How do I get my money back from BullTrades?
How The BullTrades Online Scam Works
Intelligence Commissioner Authorized Online Investments
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
