Welcome to our BEAR & BULLS Trading Academy App Review, in which we investigate the website currently found at bearandbulls.com.
On April 21, 2023, we received the following complaint from one of our visitors:
I invested 50000 PHP to USD [~$900] in BEAR & BULLS Trading Academy App in October 2022, but I haven’t received any profit from it yet. They keep showing the accumulated amount or profit on my dashboard, but I am unable to withdraw it.
I have reached out to the customer support team of BEAR & BULLS Trading Academy App multiple times to inquire about the status of my investment and the reasons why I cannot withdraw my funds, but they have not responded to my concerns so far.
So what is BEAR & BULLS Trading Academy App and is it a SCAM?
BearAndBulls.com Review
BEAR & BULLS Trading Academy App is a mobile application that helps aspiring traders to learn the basics of forex trading and eventually teach others too. It is a free app that provides users with access to a variety of educational resources, including video tutorials, articles, and webinars. The app also offers users the opportunity to connect with other traders and mentors, and to participate in live trading simulations.
Here are some of the features of the BEAR & BULLS Trading Academy App:
Free access to educational resources: The app provides users with access to a variety of educational resources, including video tutorials, articles, and webinars. These resources cover a wide range of topics, from the basics of forex trading to more advanced strategies.
Opportunity to connect with other traders and mentors: The app allows users to connect with other traders and mentors. This can be a valuable resource for new traders, who can learn from the experience of others.
Ability to participate in live trading simulations: The app offers users the opportunity to participate in live trading simulations. This can help users to test their trading skills and strategies in a risk-free environment.
Overall, the BEAR & BULLS Trading Academy App appear to be a valuable resource for aspiring traders. It provides users with access to a variety of educational resources, and it offers users the opportunity to connect with other traders and mentors.
BearBullTraders.com Review
BearBullTraders.com is a website that offers educational resources for aspiring traders. They have a variety of courses that cover topics such as setting up a trading platform, finding stocks to trade, applying risk management rules, and executing trading strategies.
They also offer mentorship opportunities and weekly webinars.
BearBullTraders.com offers a variety of courses for aspiring traders. One of their courses is geared towards beginners and provides information on how to properly set up a trading platform, find stocks to trade, apply risk management rules, and execute trading strategies.
Another course discusses the most effective criteria for stock selection and how to successfully execute a trade using a number of proven day trading strategies. They also have a course designed to assist with developing an education plan, identifying the trading strategy that best suits you, building a TradeBook, and successfully transitioning to live trading.
Additionally, they have a set of courses developed by their psychology team that focus on helping traders conquer the psychological pitfalls they may encounter.
They offer an Elite Annual membership for $999 which gives you full access for one year. This includes access to a live onboarding session, day trading and options courses, weekly webinars and mentorship, and 1:1 psychology coaching.
Other options are available as well: Test Drive for 7 Days at $39 with one week access, Basic billed monthly at $99 for a taste of trading, and Elite billed monthly at $199 for serious traders.
All plans include access to a live onboarding session, day trading & options courses, access to stock & options chatrooms, advanced course, weekly webinars and mentorship, and 1:1 psychology coaching.
There is also the option to cancel anytime for the monthly billed plans and the Test Drive plan does not auto-renew.
BEAR & BULLS Trading Academy Reviews
We have briefly reviewed two online trading educational apps, which have a similar name. It’s time to check whether or not these, and especially the former on which we received a complaint, are a scam by looking into user reviews.
As for bearbulltraders.com, it does not seem to be a scam. They are promoted by Investopedia, who rates them as the best online course for day traders. They are transparent regarding their ownership and have a LinkedIn page, according to which, Bear Bull Traders is a professional training and coaching community for traders who are passionate about trading the US stock market. They are based in Vancouver, BC, and 23 of their employees can be found on LinkedIn.
Andrew Aziz is the Founder and CEO of Bear Bull Traders and currently he is the Managing Partner at Peak Capital Group. He has a significant following with 3,684 followers and over 500 connections.
We do find a negative review about Andrew Aziz on TrustPilot from September 9, 2020, however even legitimate companies may receive occassional negative reviews. Here is the review:
The author (Mr. Aziz), in his ebook, graciously offers his readers the opportunity to join his chat room. This offer is presented at the start of the book. However, upon further investigation, I found that it requires a subscription of $39 per month, which I consider to be misleading. I am interested in setting up a website like this, but I do not wish to take advantage of others. Shame on you! Karma will catch up to you. I’m glad I discovered the truth before any positive reviews appeared. Let this be a warning to others.
As for BEAR & BULLS Trading Academy (bearandbulls.com), according to scam-detector.com, it has a medium authoritative rank of 65.8 out of 100. The website is listed under the Forex Trading niche and is said to be legitimate, known, and vetted. The website has a threat profile score of 15 out of 100, a phishing score of 7 out of 100, a malware score of 15 out of 100, and a spam score of 1 out of 100. Overall, the website is recommended by Scam Detector as a trustworthy investment platform in the Forex Trading industry.
The website’s domain creation date is March 21, 2022, and it has a valid HTTPS connection. It is not detected by any blacklist engine and has a low proximity to suspicious websites.
Interestingly, while bearandbulls.com was registered in 2022, there is an adjudication order from 2017 regarding a company or individual referred to as the “Noticee” in the matter of Bear and Bulls. The Noticee had received a Show Cause Notice (SCN) from the Securities and Exchange Board of India (SEBI) and had requested extensions for submitting replies and for personal hearings. The Noticee had also admitted to being aware of a previous order from SEBI dated December 30, 2015, which directed them to cease and desist from acting as an investment adviser.
The adjudication order discusses various facts, including the Noticee’s involvement with Singhania Media Solutions Pvt. Ltd. (SMSPL) and Bear and Bulls, a venture under SMSPL, which allegedly provided investment advisory services without being registered with SEBI as an investment adviser, broker, or sub-broker.
The Noticee had contended that SMSPL and Bear and Bulls were separate legal entities, and that they were not aware of being barred from acting as an investment adviser based on the previous order. The adjudication order does not agree with the Noticee’s contentions, citing that the previous order from December 30, 2015 clearly directed the Noticee to cease and desist from acting as an investment adviser, and that the Noticee’s involvement with SMSPL and Bear and Bulls made them liable for the activities of the venture run by SMSPL.
The order also notes that Bear and Bulls had collected fees from clients for its investment advisory services without being registered with SEBI.
The penalty of Rs. 26,00,000/- (Rupees Twenty Six Lakh only) [approximately $30,000) has been imposed on Mr. Ankitkumar S Singhania.
Whether or not there is a connection between bearandbulls.com from 2017 and bearandbulls.com from 2022 is unknown to us.
Finally, since bearandbulls.com has an app, we need to check out their reviews on the Google Play store.
The Bear&Bulls App is a mobile application that offers free training for aspiring forex traders. It has a 4.1-star rating with over 2.34K reviews on Google Play.
Some users have reported issues with withdrawing earnings from the app, expressing frustration and concerns about potential scams. However, there are also positive reviews praising the app and its team for their breakthrough in the community.
Diving deeper into the comment section, we read a review from March 3, 2022, according to which, a user expressed frustration in withdrawing their earnings from an app. Despite multiple attempts, the user’s latest withdrawal request made on Feb 26 was still pending after 5 days, and their attempts to contact the app’s support team had been unsuccessful. The user had been patient but was increasingly frustrated as they were unsure if they would ever receive their hard-earned money.
Another user on March 18, 2023, also expressed similar concerns about difficulties in withdrawing earnings from the app, citing delays in receiving their withdrawn funds in their bank account. They expressed disappointment and suspicion that the app might be a scam.
However, there were also positive reviews from other users who praised the app for being user-friendly, secure, and helpful in monitoring their accounts. They appreciated the efforts of the app’s IT team and expressed hope for further improvements and success in the future.
Some users also mentioned suggestions for notifications on pending code requests and successful earnings crediting.
There was also feedback from a user who encountered issues with the app after an update and was unable to access their account for a week.
Despite the challenges faced by some users, there were also expressions of support and optimism for the app and its community.
Bottom Line
In conclusion, after investigating the BEAR & BULLS Trading Academy App and bearbulltraders.com, it appears that bearbulltraders.com is a legitimate online trading educational platform, with positive reviews and transparency in terms of ownership and team members.
As for the BEAR & BULLS Trading Academy App, based on the complaint received from a visitor regarding their inability to withdraw funds and lack of response from the customer support team, it raises concerns about the legitimacy of the app.
While it may not be a full fledged scam, especially since it’s completely free to use, there may be some problems with the app which you should take in consideration and it is not certain that you would be able to withdraw any profits you make using it.
If you have been scammed by BearAndBulls.com or their app, please share your experience with us by leaving a comment below.
If you lost money online to online scams, make sure to get a free consultation with one of our recommended scam recovery companies.