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When depositing, an account in the name of another person is designated as a currency exchange account. Even if you try to withdraw money, you cannot withdraw money unless you pass the system examination.
I opened an account on an exchange called Bulutun Wealth. When trying to make good profits and withdraw funds, investment manager Ishihara Ippei said, "You can't withdraw unless you pay the tax first." It was reported that the tax rate is 20.315% of the profit. I felt this was strange, and after checking with a lawyer in various ways, it is better to consult with the police in a fraudulent manner. Currently, you cannot withdraw even 1 yen. Please be careful of people named Ishihara Ippei and Nakamura Hiroyuki.
The funds were invested on 6/22, and the funds were withdrawn on 6/29, but the account was never received. Originally, I asked them that I would receive the funds within 2 or 3 days at most, and the funds would be received within 72 hours, but the funds never arrived. Only after paying taxes can the principal and benefits be withdrawn. Other platforms say that there is no such statement.
I was invited to join the line group in Japan to guide FX investment, and a person named Ippei Ishihara said at the Japanese office, but I can not withdraw after trading, after paying taxes, I will withdraw. When I asked another person that I could make money, I couldn't withdraw even if I paid. I'm cheating.
You can withdraw at any time before depositing, but it is said, but after withdrawing 3 times, you can not withdraw at all. They recommend depositing, if you want to withdraw, you have been paid in advance, now I can't withdraw at all
With the introduction of an acquaintance, I opened an account at Bulutun Wealth and started trading from a small amount. I made a good profit and achieved the target profit, so when I tried to withdraw, the investment adviser of the other party said, "You can not withdraw unless you collect the tax generated by the margin first. The tax rate is 20.315%. The tax is 20.315%. , The funds of the FX account cannot be used. It is necessary to transfer in cash. It has also been notified to the Japanese financial agency and is based on the law called the Unification of Final Declaration Law. " Initially, it was not reported that when a profit was generated at the age of withdrawal, the tax could not be withdrawn unless the tax was paid in cash. I have never heard of such a law when I checked with an acquaintance or a lawyer. I was told that it is strange to pay taxes first when withdrawing money in the first place. I can't help but feel that it's a scam. In addition, I am making a profit and I have put in the funds that will be the principal, so I would like to withdraw money, pay taxes firmly, and be a good citizen. Please investigate the cause, clarify the truth, solve the problem, and manage to withdraw.
|Bulutun Wealth||Basic Information|
|Registered Country/Area||United Kingdom|
|Founded year||1-2 years ago|
|Company Name||Bulutun Wealth|
|Regulation||Suspicious Regulatory License|
|Spreads||From 0.0 pips (allegedly)|
|Trading Platforms||MT4 trading platform|
|Tradable Assets||currency pairs, cryptocurrencies, precious metals (Gold, Silver, Platinum), energy (Brent, WTI, NATGAS) and more|
|Account Types||Not specified|
|Customer Support||Phone, Email|
|Payment Methods||Not specified|
Bulutun Wealth is a United Kingdom-based forex brokerage firm that was established approximately 1-2 years ago. Operating under the name Bulutun Wealth, this company raises concerns due to its suspicious regulatory license status. Tradable assets offered by this broker include currency pairs, cryptocurrencies, precious metals such as Gold, Silver, Platinum, as well as energy assets such as Brent, WTI, and NATGAS.
The minimum deposit requirement to open an account with Bulutun Wealth is set at $200, allowing access to trading with a maximum leverage of 1:500. The spreads, allegedly starting from 0.0 pips, may seem enticing but should be approached with skepticism given the dubious regulatory license. Bulutun Wealth utilizes the widely recognized MT4 trading platform, which provides clients with a familiar interface for executing trades.
Unfortunately, specific details regarding account types are not specified on the company's website, raising concerns about transparency and potential limitations for traders. Furthermore, Bulutun Wealth does not offer demo accounts or Islamic accounts, which may be important considerations for certain traders.
Customer support is available via phone and email, but the lack of dedicated educational tools should be noted. Investors seeking educational resources to enhance their trading knowledge and skills may need to look elsewhere.
Bulutun Wealth's regulatory aspect raises significant concerns and calls for further scrutiny. Bulutun Wealth claims to hold a regulatory license from the National Futures Association (NFA) under license number 0550279.
However, upon conducting a search on the NFA website, it becomes evident that Bulutun Wealth is not a member of the NFA, thus casting doubt on the legitimacy of their regulatory claims.
Bulutun Wealth presents an array of options, including currency pairs, cryptocurrencies, precious metals, and energy commodities such as Gold, Silver, Platinum, Brent, WTI, and NATGAS.
Currency pairs serve as the foundation of forex trading, providing traders with the opportunity to speculate on exchange rate fluctuations between two different currencies.
In addition to currency pairs, Bulutun Wealth extends its range of tradable assets to encompass cryptocurrencies.
Furthermore, the inclusion of precious metals like Gold, Silver, and Platinum allows traders to diversify their portfolios and potentially protect against inflation or economic uncertainties.
Bulutun Wealth also offers energy commodities, namely Brent, WTI, and NATGAS. These resources are widely used in various industries and hold significant value in the global market.
Instead of offering tiered trading accounts with varying features and benefits, this brokerage firm follows a simplified structure. At Bulutun Wealth, potential traders are met with a single account type, and to commence trading with Bulutun Wealth, clients are required to make a minimum deposit of $200.
It is noteworthy that Bulutun Wealth does not offer a demo account option. A demo account provides novice traders with the opportunity to practice trading strategies and familiarize themselves with the platform's functionalities in a risk-free environment. By omitting this feature, Bulutun Wealth limits potential clients' access to a fundamental tool for learning and experimentation.
Bulutun Wealth offers leverage of up to 1:500, giving traders the ability to control a larger position in the market relative to their available capital. By employing leverage, traders can potentially enhance their profit potential, as even small market fluctuations can yield amplified returns. However, it is crucial to recognize that while leverage can magnify profits, it can also multiply losses. The higher the leverage ratio, the greater the risk for traders, as their capital is exposed to larger market movements that can result in considerable losses.
When considering the spreads and commissions at Bulutun Wealth, it is important to note that this brokerage firm promotes the idea of “low spreads.” However, the specific details or range of spreads offered by this broker are not explicitly disclosed on their platform. This lack of transparency can leave potential clients in a position of uncertainty, as they are unable to assess the exact costs involved in their trading activities.
In addition to spreads, it is also important to consider any potential commissions that traders may be subject to when conducting trades through this brokerage firm. Commissions are separate fees charged by brokers for executing trades on their clients' behalf. However, Bulutun Wealth does not disclose specific information regarding the presence or absence of commissions in their trading services.
In addition to trading fees, it is essential to consider the non-trading fees associated with Bulutun Wealth. These fees encompass charges that are not directly related to the execution and management of trades but are nevertheless significant in overall cost assessment for potential clients.
One such non-trading fee that may be applicable is the deposit and withdrawal fees. These charges are imposed when clients add funds to their trading account or when they seek to withdraw their funds from the account.
Another non-trading fee to consider is the inactivity fee, which may be levied on dormant accounts. This fee is typically imposed when an account remains inactive for an extended period.
Furthermore, it is important to note that other non-trading fees, such as account maintenance fees, currency conversion fees, or platform fees, may be applicable to traders conducting business through Bulutun Wealth.
Bulutun Wealth asserts that it offers an industry-leading trading platform, namely the MT4 (MetaTrader 4) platform. MT4 is a widely recognized and popular trading software utilized by numerous brokerage firms globally. known for its extensive range of tools and functionalities, offering traders access to a diverse selection of financial instruments and markets.
The MT4 platform provides traders with the opportunity to engage in various trading strategies, including automated trading through the use of expert advisors (EAs). EAs are algorithmic trading programs designed to execute trades based on predetermined criteria, thus eliminating the need for manual intervention. This feature can be beneficial for traders seeking systematic and efficient trading approaches.
The minimum deposit required to open an account with this broker is set at $200. However, the absence of information regarding the available payment methods can be a limitation for potential clients as it hampers their ability to assess the convenience and suitability of the options provided.
Clients have the option to reach out to the broker via phone or email. For telephonic communication, clients can contact Bulutun Wealth using the provided phone number: +44 7312851096. Alternatively, clients can opt for electronic communication via email, using the designated email address: firstname.lastname@example.org.
However, precise availability and responsiveness of the customer support services offered by Bulutun Wealth are not explicitly stated.
When it comes to educational resources, it is important to note that Bulutun Wealth does not provide any explicit offerings in this regard.
Clearly, Bulutun Wealth is not suitable for beginners due to the following reasons:
No regulation: The absence of regulatory oversight raises concerns regarding the broker's adherence to industry standards, transparency, and client protection. Beginners may prefer brokers regulated by respected authorities as it provides a level of assurance and accountability.
No demo account: The absence of a demo account option deprives beginners of a risk-free environment to familiarize themselves with the trading platform, test strategies, and gain confidence before transitioning to live trading.
Unfriendly Minimum deposit: it appears that Bulutun Wealth does not offer beginner-friendly account options such as micro accounts or accounts with a user-friendly minimum deposit. This can be a drawback for beginners who may prefer to start with a smaller initial investment or trade with lower lot sizes to manage their risk effectively.
Based on the three dimensions you mentioned, it appears that Bulutun Wealth may not be suitable for experienced traders. Let's analyze each dimension:
No Competitive Pricing: Competitive pricing is crucial for experienced traders as they actively seek tight spreads, low commissions, and minimal slippage, while it seems that Bulutun Wealth disappoints experienced in this regard.
No Advanced Tools: Experienced traders often rely on advanced trading tools and features to conduct thorough market analysis and execute sophisticated trading strategies. However, Bulutun Wealth does not offer such tools, which put experienced traders at a disadvantage.
No Dedicated Customer Support: Experienced traders may value responsive and knowledgeable customer support to address their specific queries or issues promptly. However, if Bulutun Wealth does not provide dedicated customer support, it can be frustrating for experienced traders who expect timely and efficient assistance.
In conclusion, potential investors should exercise extreme caution when dealing with Bulutun Wealth. The company's suspicious regulatory license, lack of transparency, and limited offerings in terms of account types, demo accounts, educational resources, and payment methods should warrant careful consideration and thorough due diligence before engaging with this brokerage firm.
Q: Is Bulutun Wealth a regulated broker？
A: Unfortunately, Bulutun Wealth is not regulated.
Q: What trading instruments does Bulutun Wealth offer？
A: Bulutun Wealth provides access to a range of trading instruments such as forex currency pairs, commodities, indices, cryptocurrencies and more.
Q: What is the minimum deposit required to open an account with Bulutun Wealth？
A: The minimum deposit required by Bulutun Wealth is $200.
Q: Does Bulutun Wealth provide educational resources or analysis tools？
A: Bulutun Wealth does not provide any educational resources.
Q: Is Bulutun Wealth suitable for beginners？
A: NO, Bulutun Wealth is not suitable for beginners due to its lack of regulation, the absence of demo accounts and educational resources.
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