TimBullman Review: What Lies Under The Devious Disguise

This dubious firm, allegedly based in the UK, claims to offer a legitimate web trading platform. The appealing website advertises popular assets such as cryptocurrencies and stocks, multiple account types, and bonuses.

However, this platform cannot possibly be considered safe for investments. In order to learn the truth, you have to read our TimBullman Review and get familiar with how shady cyber schemes such as TimBullman and OrbiTrade work.

Legal Info: Is TimBullman Regulated?

TimBullman claims to have an office in the United Kingdom. The UK’s Financial Conduct Authority (FCA) begs to differ. Namely, the fierce British watchdog issued a warning against this illicit platform on August 17 this year and thus exposed the underlying trading scam.

Soon afterwards, the Italian regulator CONSOB also flagged TimBullman as unauthorized to operate in the European Economic Area (EEA). 

Trading with unlicensed providers can be detrimental because you “won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it’s unlikely you’d get your money back if the firm goes out of business,” according to the FCA.

You should stick to regulated brokers operating under the supervision of a reputable financial authority such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc.

Who Are TimBullman’s Targets?

According to godaddy.com/whois, the timbullman.com website domain was created on June 24, 2023. Since then, the financial swindler has been targeting mainly unsuspecting traders who reside in the following countries:

• United States;
• United Kingdom.

Both the US and the UK are regarded as major global financial hubs with heavy market regulations in force. TimBullman, as the FCA stressed, has no license to operate in the UK or any other country for that matter.

The data from similarweb.com shows that the number of visits to the cyber con artist’s website increased from 26.8k in July to 41.6k in August but then dropped down to 24.8k in September. In the last three months, UK traders accounted for 100% of the visits to the website. 

Trader Reviews – Sharing Experiences

Whichever trading forum we checked, we found only complaints against this broker. We visited trustpilot.com and read about how TimBullman “continually asked for more money and for me to upload thousands in order to withdraw funds as a conversion fee.”

It is illegal for a provider to ask clients to pay an upfront fee in order to be eligible to withdraw funds. More negative reviews can be found on scamcheck24.com and scamadviser.com. Read them to learn how the scam works. 

It seems that withdrawal issues are inevitable on this platform. Please avoid trading on unregulated platforms and instead stick to licensed and transparent brokerage companies that provide safe trading conditions.     

Which Trading Platforms Are Available?

TimBullman offers a web trading platform. It supports popular trading assets such as cryptocurrencies, crypto indices, commodities, and stocks & ETFs. Since it is browser-based, it can be accessed via both PC and mobile devices. 

We were unable to check out the online trading terminal because there was no demo account option. Web platforms offered by the likes of TimBullman and UltraBrokerz are usually lackluster, unpolished, and able to make funds disappear under suspicious circumstances.

It is yet another reason why you should stick to recognized third-party trading software such as MetaTrader 4, MetaTrader 5, or cTrader if you want a pure trading experience. And make sure your provider is licensed!

Available Live Account Types

Leverage, Spreads, Commissions, Demo Account

The maximum leverage that TimBullman offers ranges from 1:2 to 1:200. High leverage can amplify potential profits, but it also significantly increases the risk of potential losses.

A leverage of 1:2 is adequate for crypto trading but anything higher than that is a big gamble. Trading costs, i.e. spreads and commissions were not disclosed. Such a lack of transparency raises concern.

To make matters worse, there is no risk-free demo account. If you are a beginner, you should not be risking real money straight away. Every legitimate brokerage firm nowadays offers a demo account. 

Deposit and Withdrawal Process

TimBullman listed several available payment methods that can be used to fund live accounts:

• Credit/debit cards;
• Wire transfers;
• E-wallets;
• Crypto.

According to the website, the minimum deposit requirement is 250 USD but the minimum withdrawal requirement and the related fees were left undisclosed.

In case you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wire transfers can be reversed via a recall but this action can only work for transactions yet to be completed.

For crypto payments, though, you will need to seek out professional assistance. We offer our expertise so be sure to contact us in case you need help.

Key Facts To Consider About TimBullman

To sum up our review, TimBullman is an unlicensed online trading platform that supports cryptocurrencies, indices, metals, and stocks & ETFs. The crooked trickster mainly targets British and American traders.

In August 2023, the FCA blacklisted this platform as a fraudulent provider and the Italian CONSOB reposted the UK regulator’s warning. We do not recommend this platform because it is unregulated and blacklisted. In case you’ve already deposited funds into your account, you must seek our professional help to recover your money!

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the chargeback process and assist you every step of the way.

Book your consultation with us today and start the chargeback process.

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