Helen always knew that her passion for journalism was more than just a hobby. It was a potential career. She began her professional journey at a local newspaper in the small town where she was born. Writing on a variety of topics, from local news to financial reviews, her persistence and investigative talent soon caught the attention of editors at larger publications. We are thrilled that Helen accepted our offer and now writes for fincapital-reviews. Her exposés always create a buzz. Sometimes, we think Helen could easily open her own detective agency.
Another offshore broker is up next, based in one of the most unreliable and high-risk jurisdictions — Mwali, Comoros. BullMarkets promises everything imaginable: fast execution, a modern platform, a wide range of assets, and various other benefits and privileges. However, this is nothing more than an attempt to lure inexperienced traders. If you want to understand why this is a potential scam, join us for our review.
BullMarkets’ website looks neat and modern. A dark theme, a large phone screen with a chart, and a slogan about “entering the world of online trading”. The menu is simple: Trade, Markets, Learning, and Account. Visually, everything is designed to make a beginner feel as if they are dealing with a serious global broker.
Below that is a block of promises: more than 160 CFD instruments, flexible accounts, fast execution, and an “advanced platform”. The screenshots feature their WebTrader. It all looks polished, but offers no real specifics — just standard marketing.
In the website footer, the following information is listed:
However, this is not enough. BullMarkets does not disclose its founding date, the names of its founders, or its business model. These are key elements that any legitimate company provides. There is no corporate structure, no liquidity providers, and no partnerships of any kind.
The most alarming — and easily verifiable — issue is the strong similarity between BullMarkets’ website and the websites of FXonet and BigMarkets, which we previously reviewed. The homepage structure of all three projects is almost identical. The About Us sections of BullMarkets and BigMarkets fully mirror each other, with identical subsections: “Compliance”, “Security”, “Support”, “Platforms”, “Quality”, and “Regulation”. This is a clear red flag.
As for contact details, everything is basic — BullMarkets offers:
However, there is no support through messengers such as Telegram or WhatsApp. There are also no social media accounts, even though any customer-oriented, modern broker would have these.
The minimum Basic account starts at $250, while the spread on EURUSD begins at 3 pips. This is the level of a typical offshore company, not a competitive market offering. Major CFD brokers such as FP Markets, IG, and Vantage offer floating EURUSD spreads starting from 0.0–0.2 pips on ECN accounts, and often under 1 pip on standard accounts.
And it gets even more unusual. To access at least somewhat reasonable spreads, BullMarkets requires deposits of $25,000, $100,000, or $250,000. In other words, normal trading conditions are tied to deposits more appropriate for a small hedge fund than for a retail trader. Reputable brokers operate with the opposite logic: you can open an ECN or Raw account with adequate spreads using modest amounts of capital, while large deposits typically unlock additional services — not “minus two pips on the spread” in exchange for hundreds of thousands of dollars.
Leverage up to 1:400 is not unique on its own, but combined with an offshore “regulator” and a complete lack of information about risk management, it looks more like a tool for draining client deposits quickly rather than honest leverage provided by reputable brokers.
BullMarkets does not disclose any information about commissions. It appears they are embedded into the spread. Traders are not given the choice between paying a commission with near-zero Bid/Ask or trading with wider spreads but no commission.
Next, we need to examine the more important aspects that ultimately determine whether such a platform can be trusted. The broker lists registration in Saint Lucia and Mwali, as well as regulation from the MISA (Mwali financial commission).
We checked the registries, and this is true. A company named ExpertPro Ltd does exist. It was registered in 2023, which is relatively recent. This means the platform has a limited operating history. BullMarkets is a fairly young player in the brokerage market.
Here is a key point that most beginners do not take into account. The Mwali International Services Authority is an offshore entity from Mwali Island (Comoros). Various reviews and legal firms openly state that MISA operates primarily as an offshore registrar rather than a strict financial regulator. Oversight is weak, investor protection is minimal, and licenses are issued to a large number of forex companies because it is a cheap and fast option.
The conclusion is simple: having an MISA license does not make a broker legitimate or safe. It is merely a piece of paper from a questionable jurisdiction, and serious market participants do not rely on it as their sole regulator.
Another reason to avoid this company is the absence of online reviews. There are very few of them, making it difficult to research the broker. A lack of commentary usually means a lack of clients, and that is always risky. It is one thing to trade with a company known by millions, and quite another to trade with one that no one has heard of.
By all indications, BullMarkets is yet another young offshore broker with no reputation, no transparency, and no proven reliability. Its regulation is purely formal, its trading conditions are unreasonable, and its website is copied from other high-risk projects. There are virtually no clients and no reviews. We do not recommend working with such platforms.
In my view, if there is a group of identical brokers, they all have one goal – to steal your money. There is no other explanation. So my advice is to avoid such pseudo-brokers altogether. Choose a real, regulated broker that has been operating for 10–20 years or more. With such companies, you will not face issues when withdrawing funds. Do not even consider these trash traps. They are fake, 100%!