Our Big Boss Review
Big Boss is an online forex and CFD broker. The broker’s parent company Big Boss Holdings is located in St. Vincent and the Grenadines. Traders using Big Boss have access to numerous account types and access to a wide array of tradable instruments.
Big Boss Account Types
Traders using Big Boss have access to three account types, which are the Standard Account, Pro Spread Account, and the FOREX account. With the first two accounts, traders have access to fx majors, minors, CFDs, and other asset classes. The FOREX account is designed with a focus on crypto trading. Besides the supported assets, the different account types differ in leverage and commission fees.
- Standard Account
The Standard Account does not have a minimum deposit requirement. It comes with a maximum leverage of 1:555. However, CFD trading comes with a maximum leverage of 1:50 as well as for the USD/RUB, USD/TRY, USD/ZAR fx pairs. The maximum leverage for the crypto-fiat pairs for this account is 1:5. There is no commission charged on CFDs and Forex. However, there is a commission on other asset classes at 0.4% per turn.
- Pro Spread Account
The Pro Spread Account does not have a minimum deposit amount. Leverage for the account is fixed at a maximum of 1:555. For CFDs and the USD/RUB, USD/TRY, USD/ZAR pairs, the maximum leverage is fixed at 1:50. The commission charged for this account is 1 Lot one-way at $4.5.
FOREX Account
The FOREX account is designed for crypto trading. Traders using this account have access to the base currencies of JPY, USD, BTC, ETH, OMG, EXC, QASH, XRP, and AXE. There is no minimum deposit amount for this account. The account does not have a margin call or stop out level. Trading continues 24/7, unlike other account types that close on the weekend. The commission charge is one-way at 0.2%. Traders using the FOREX account have access to the following trading pairs: EXC/USD, BTC/USD, ETH/USD, ETH/BTC, and XRP/USD.
Trading Platform
The Big Boss platform can be accessed as a downloadable MT4 application for Windows and macOS. MT4 is the most widely used trading platform in the world. It features many great features for both newbies and advanced traders.
Withdrawals and Deposits
Traders can make deposits via credit card, bank transfer, BitWallet, and from their Bitcoin address. The platform does not have a minimum deposit limit. All withdrawals from the platform can only be made via bank wire transfers.
The platform charges a $20 withdrawal for USD accounts or a 2000 JPY fee for JPY accounts per withdrawal. This fee applies to each withdrawal request made, regardless of the amount of money that is withdrawn. It usually takes 2-5 working days to process a withdrawal request.
Customer Support
Customer support is offered via a customer support form on the broker’s website. Once users make their request, a reply is sent to their email address. Traders can use the form of 24/7.
Summary
Big Boss offers traders access to multiple account types and high leverage. The commissions charged by the broker are reasonable and traders have access to the 24/7 crypto market. In general, it is a great platform for new and experienced traders looking to trade without any minimum deposit requirements.