Bontobel is a shady trading firm that doesn’t provide even basic information. Whenever you come across a trading firm whose website is not complete with details about the owner, headquarters, and license, you should run as far as you can. This detailed Bontobel review will give you everything the broker missed to say or tried to hide.
Furthermore, we strongly urge you to stay away from BullGeko, TradeBaionics, and Supreme Capital fake brokers.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | bontobel.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | N/A |
| Headquarters Country: | UK (allegedly) |
| Foundation year: | 2021 |
| Supported Platforms: | Proprietary Platform |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Available – BTC, ETH, LTC |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:400 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is Bontobel a Licensed Broker?
Bontobel claims to be a UK-based trading firm yet fails to provide a license. Any company that wants to operate in this country needs to be licensed and supervised by the Financial Conduct Authority. According to the Deposits and Withdrawal section, the broker claims to have FCA, CySEC, and CIMA regulations. Furthermore, it states that the FSCS and ICF compensation funds protect customers.
Bontobel broker has never entered any commercial register, and the firm is not licensed by any major regulator, including ASIC, BaFin, CONSOB, CySEC, and more. Thus, it’s clear that the firm is only allegedly in the UK, while the actual operation can be anywhere.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers don’t provide any guarantees. Unlike licensed trading firms that have to follow strict rules and usually offer negative balance protection and a Demo account, unregulated brokers have no obligations. They can do whatever they want, even shut down the domain and vanish.
How Reliable Is Bontobel Broker?
Bontobel is not a legitimate investment brokerage. The firm claims to be based in the UK, yet it’s not registered as a business, nor does it have an FCA license.
Traders’ Experience With Bontobel
Traders’ experience with Bontobel is not quite positive. Customers mainly complain that they have been scammed and the broker didn’t approve their withdrawals. While you’re investing, everything seems to go great. However, once you decide to submit a withdrawal request, you will be denied, and the broker will vanish with your money.
What Platforms Does Bontobel Offer? – Available Trade Software
Bontobel offers only one trading platform – a proprietary trading solution. It’s a platform uniquely designed by the broker, not related to any software we know, such as MT4 and MT5. When it comes to the platform’s interface, it’s closer to a WebTrader than MetaTrader. The same stands for software features. There are EAs and some advanced functions, but the number of tools is lower than with MetaTrader.
Mobile App – Trade On The Go
There is a mobile app coming along, available for both Android and iOS users. It contains the same tools as the desktop version.
All About Bontobel Accounts
Bontobel offers its customers 3 account types:
- Fixed spreads from 1.8 pips – $250
- Fixed spreads from 1.5 pips – $250
- Raw spreads from 0.1 pips – $500
Accounts differ in the spread, as obvious, also initial deposits, commissions, and access to EAs.
Bontobel Broker – Countries Of Service
Based on reviews and complaints, the Bontobel trading scam is mainly active in:
- Germany
- Canada
- Sweden
- Bulgaria
Wherever you reside, we advise you to reject any offers coming from this unscrupulous trading scheme.
Bontobel Range of Trading Instruments & Markets
Bontobel offers investing in all major markets, including:
- Forex – EUR/USD, GBP/USD, AUD/CAD
- Commodities – gold, silver, oil
- Indices – Dow Jones, NASDAQ, FTSE100
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, ETH, XRP
Furthermore, we strongly urge you to stay away from XE Prime, CapitalCore, and WSXP fake brokers.
What Trading Terms does Bontobel Provide?
Since Bontobel is not regulated, its trading terms are against regulatory rules. Thus, we have unregulated leverage, leading to severe financial losses.
Minimum Investment Amount
The minimum deposit with this firm is $250 and can be considered an industry standard. However, you should know that legitimate companies often have Micro accounts starting with as low as $10.
About Leverage
The leverage goes up to 1:400, directly opposing the fact that this firm is UK-based. According to the FCA, a trading firm can offer leverage up to 1:30 and slightly higher for experienced retail traders.
Bontobel Deposit, Withdrawal Methods, And Fees
Besides claims that funds are protected by FCA and CySEC compensation schemes and transferred through major Tier1 banks, we have nothing about deposits and withdrawals. Allegedly, the broker charges no fees, but since everything else is hidden, we wouldn’t trust this statement.
This lack of transparency is the final nail in Bontobel’s coffin and final proof that this trading firm is a scam. Stay away for your own good.
Scammed by Bontobel Broker? – Let Us Hear Your Story
Being a scam victim is never easy. However, you should know that stolen funds can be recovered. There’s always a possibility to request a chargeback. If you have used your debit or credit card to make a deposit, you have up to 540 days to file a dispute.
But What Is A Chargeback?
This is a way for your bank to recover funds directly from the merchant. Contact us via online chat to book a free consultation with our experts, and let’s get back what’s rightfully yours.