Bull Sphere: Get to Know Thailand’s New Broker 

Choosing a forex broker is a crucial step for traders, as it affects both their trading strategy and potential success. Bull Sphere, established in 2020 and based in Bangkok, Thailand, provides a comprehensive suite of services designed to meet the needs of traders at all levels.

This forex trading broker review aims to offer a clear overview of Bull Sphere, focusing on its foundational features and services to help traders make an informed decision.

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Bull Sphere: Overview 

Bull Sphere launched its operations in 2020, marking its entry into the forex trading industry. Based in Bangkok, Thailand, the broker offers a blend of traditional values and modern technological advancements in trading. Its establishment in Thailand allows Bull Sphere to operate in a market that is both accessible and strategically significant, providing a solid foundation for offering forex trading services worldwide.

To make forex trading accessible to a broader audience, Bull Sphere has set the minimum deposit at $10. This approach not only lowers the barrier to entry for novice traders but also reflects the broker’s commitment to making forex trading available to everyone.

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Regulation and Registration 

Bull Sphere has been the subject of scrutiny regarding its regulation and registration status. It claims to be authorized and supervised by the US National Futures Association (NFA) with registration number 0548533. However, it has been found that although Bull Sphere is registered with the NFA, it does not meet the necessary conditions to be considered a regulated entity in the forex market. As such, it operates without the oversight typically required for forex brokers, which raises concerns about its legitimacy and the safety of investing through its platform.

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Account Types of Bull Sphere

The trading account types offered by Bullsphere have the following details:

Micro Account

• Minimum Deposit: $10
• Maximum Leverage: 1:1000
• Spread: From 1 pip
• Commission: No commission
• Instruments: Forex, commodities, indices, stocks

Standard Account

• Minimum Deposit: $10
• Maximum Leverage: 1:500
• Spread: From 0.2 pip
• Commission: No commission
• Instruments: Forex, commodities, indices, stocks

ECN Account

• Minimum Deposit: $10
• Maximum Leverage: 1:1000
• Spread: From 0 pip
• Commission: $6 per lot
• Instruments: Forex, commodities, indices, stocks

Classic Account

• Minimum Deposit: $10
• Maximum Leverage: 1:1000
• Spread: From 0.8 pip
• Commission: No commission
• Instruments: Forex, commodities, indices, stocks

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Deposit and Withdrawal

To fund your trading account with Bull Sphere, the broker provides the option of using a debit or credit card or a bank wire transfer. Please note that you must make deposits from an account or card in your name, since we do not accept payments from third-party sources and will return them.

For withdrawals, traders should navigate to the withdrawal section and follow the prompts for withdrawal. The process may involve additional verification steps, including proof of identity, to protect your funds. Bull Sphere processes withdrawal requests only after verifying the provided details to their satisfaction. Also, the broker ensures funds are only transferred to accounts that are in the trader’s name, prohibiting transactions with third parties.

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Products in Bull Sphere

Bull Sphere offers trading instruments, specifically only two main types:

• Forex
• Energies

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Trading Platform of Bull Sphere

Bull Sphere provides its traders with access to advanced trading platforms, specifically focusing on: 

• MetaTrader 4
• MetaTrader 5
• cTrader

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Fees of Bull Sphere

Initially, specific details on swap rates and commissions are not transparently disclosed, making it challenging to assess the comprehensive cost structure for trading. Additionally, it is noted that starting spreads begin from 1 pip. In terms of swap fees, they are calculated in accordance with the contract specifications on the company’s website, and if applicable, the swap is charged daily at 10:00 PM. Lastly, Bull Sphere specifies that traders using the Classic account will not incur any commission charges.

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Bull Sphere Promotions

• $30 Welcome Bonus: New clients are greeted with a $30 bonus immediately upon signing up and opening a Welcome Bonus account with Bull Sphere, no deposit required.
• First-Time Deposit Bonus: New users receive an instant bonus upon their first deposit. Clients will receive a bonus of 30%-50% of the first deposit, up to $500 per 1 User ID.

The promotion was announced on January 14, 2021. For more details, you can visit the link: Bull Sphere – Promotions.

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Customer Support 

• Office Address: 1420/1 206L3 Crystal Design Center, Klong Chan Sub-District, Bang Kapi District, Bangkok, Thailand, 10240
• Email: [email protected]
• Tel: (+66)21260199

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Pros & Cons

Pros Explained

• Bull Sphere’s low minimum deposit requirement of just $10 makes it highly accessible for individuals who are new to trading or those not willing to risk a large amount of capital initially. This feature encourages a wider trader to start trading by minimizing the financial barrier to entry.

• Bull Sphere provides diverse account types such as Micro, Standard, ECN, and Classic, allowing traders to select the option that best aligns with their trading strategy and level of expertise. Each account type offers different benefits, such as varied commission structures and access to specific trading platforms, catering to the unique needs of each trader.

• Bull Sphere provides access to multiple trading platforms such as MT4, MT5, and cTrader, they allow traders to choose the software that best meets their trading needs. Each platform comes with its own set of features, including analytical tools, charting capabilities, and automated trading options, enhancing the trading experience.

Cons Explained

• The absence of regulatory oversight is a significant drawback, as it raises questions about the broker’s credibility and the safety of client funds. Regulation by a reputable authority ensures that a broker adheres to strict financial standards and practices, providing a layer of protection to traders.

• Bull Sphere’s trading offerings are confined to just forex and energies. This limitation means traders have access to currency pairs for forex trading and can engage in trading energy commodities like oil and natural gas.

• The lack of specific information regarding commission charges for non-classic accounts contributes to a lack of transparency about the overall cost of trading with Bull Sphere. Traders value clarity in the fee structure as it allows them to calculate potential costs and returns more accurately. An unclear commission structure can lead to unexpected charges, affecting traders’ profitability and trust in the broker.

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Is Bull Sphere Worth Considering?

Bull Sphere might be worth considering for traders prioritizing low entry costs, as it offers a $10 minimum deposit and diverse account types (Micro, Standard, ECN, Classic), catering to various trading strategies. Its access to popular platforms like MT4, MT5, and cTrader enhances trading experiences with advanced tools. 

However, the lack of regulation raises serious concerns about the safety of funds and the broker’s overall reliability.  The limited trading instruments, restricted to forex and energies, might not satisfy traders looking for a diversified investment portfolio. Additionally, the unclear commission structure could impact cost transparency and trader trust. Prospective clients should carefully weigh these factors against their trading needs and risk tolerance. Moreover, traders are advised to study various Bull Sphere review. 

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FAQs

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