Project Bulls Review: Is Projectbulls.com Scam?
Project Bulls is a new signal vendor intending to provide both free and premium signals for Forex, Stocks and Cryptocurrencies.
Options trading is the only service they don’t offer.
I therefore encourage you to check out for the appropriate service here.
Project Bulls is also intending to manage trading accounts of its clients while promising a 34% annual return.
The website claims that their signals have a win rate of +85% and will provide up to 5 premium signals per day.
Unless we see proof that they can maintain this win rate, we can’t take their word for it or even include them in the most coveted list of consistently profitable traders.
Project Bulls also feels that they are successful because they stand for sustainability, consistency and simplicity.
All services and description can be found at Projectbulls.com web address.
The about us page discloses names of people running this signal and investment service, though their location is not known.
They claim that the service is operated by a team of 3 people namely Jonathan Smith, Ph.D., Aris Petkov, CFA, and Jeff Koning, LLB.
All of these guys are alleged to have worked as brokers and wealth managers with over 8 years of experience.
Marketing materials on the Project Bulls website even claims that this team has consistently beaten the indices by a high margin in the last 5 years.
The sales page is definitely oozing with confidence and the community would like to see the performance results before anything else.
That is the purpose of our review anyway.
Project Bulls Review- breakdown of the service
The cost of their premium signals is from €10 to €15 monthly.
This fee is obviously on the lower side. One would definitely question the quality of signals that this vendor intends to offer.
On the other, the vendor claims that this is a 50% discount, and despite the low price, we’re going to get the following:
1.Forex and Stock signals
2.Past daily trade signals
3.Basic education and daily journal
If you want to access premium signals for free, Project Bulls recommends signing up with their affiliated broker, Ava Trade for this to happen.
Traders must deposit at least $100.
What about Project Bulls investment plans?
At first I thought this was a HYIP only to discover that they are trading other people’s accounts through a MAM setup with their broker.
Basically, an investor needs to sign an LPOA, deposit a minimum of $1,000 and let these guys manage the funds.
The minimum investment duration is 6 months, although investors typically pull out anytime they want.
Therefore, while this is not a HYIP, investors should be concerned with the reliability and consistency of the strategy.
And it’s the job of this signal vendor to prove how good they are at trading and managing other people’s money.
They claim that it’s a combination of fundamental and technical analysis where Project Bulls traders will carefully select stocks and also make sure no open positions are running at the end of the month.
Their strategy insight discloses that the team will look at overvalued stocks with high short-term potential.
On the other hand, they only use Forex as a hedging tool.
While this is a fair explanation to the strategy they use, it does not go into details.
Curious investors want to know how the team is managing risk or drawdowns when they happen.
Currently, Project Bulls website is only highlighting their trading styles and average drawdown values.
Fees for their managed trading account
Project Bulls will charge their customers a 20% incentive fee based on Hig water mark value.
This means the vendor will not charge fees until there is a profit and the account has grown bigger than the last size.
Investors are to expect 34% for their riskiest trading strategy and 11% for their conservative trading strategy.
Performance history of Project Bulls
The vendor has posted performance history files on their website.
However, they also mention that they can provide their performance for the last 5 years if contacted.
I looked at the readily available performance history and discovered that this vendor is actually trading on a demo.
This is a major setback for Project Bulls because their website suggests that they are a serious business.
Trading on a demo is the last thing I would expect to see from guys who claim to have 8 years of experience in trading.
It would be better to publish this performance on a statement sharing platform like myfxbook.
I’ve had a lot of success analyzing strategies on myfxbook than with trading statements.
There is zero feedback for this signal service and this is because they are new to the market.
The community can therefore use this opportunity to hold a meaningful discussion in the comment section.
If you have used this service before, I welcome your feedback.
Project Bulls appears to be a professional signals and managed accounts vendor.
However, they shouldn’t be showing us results from a trading simulator.
Moreover, we find that what they charge for their fees is very low.
Probably this is to attract customers as the service is very new.
Ultimately, I expect them to up their game by fixing the areas discussed here so they can fairly compete with established trading signals providers.