Overall Score20 / 100The Wikilix trust rating of Caibull, out of 100, built from the five factors below.It copies another firm's identity, and it holds no valid licence.Regulation0%Identity42%Client terms50%Trading offer78%Service51%Score last calculated 2026/11/04
Do not trustBelow 35, or a stop sign applied: a confirmed or likely scam, or a copied identity. Keep your money away.Why: It copies another firm's identity, and it holds no valid licence.
20 out of 100 · 81% checkedThe share of the record we could verify. What we could not check counts as unknown and pulls the score toward the middle, never down.
Do not trust
High risk
Fair
Good
Excellent
It copies another firm's identity, and it holds no valid licence.
Capped at 20 · Clone firm or copied identity
We checked Caibull on 2026-11-04 across its regulation, company record, client terms, trading offer and service, and could verify 81% of its record. It holds no valid licence: every licence we knew of has ended or could not be found on its register. The score was held at 20 because it copies another firm's identity. What would move the score: site integrity, policy risk, critical clauses. Our published investigation found it is likely a scam, with 2.3 years of track record. Its client terms have not been reviewed yet. Trading EURUSD costs about 0.0 pips all-in, spread and commission together.
Whether a financial authority supervises this broker: the licences it holds, whether we verified them on the official register, how strong that regulator is and what protection it gives clients. Worth 35 points of 100.
Identity
Who is behind it, and for how long?
42out of 100
Poor
Counts for 15% of the score85% checked
What we checked
Registry-verified entity50
3 entity(ies) recorded with a registration number · Sep 19, 2026Source
Who is behind it and for how long: a company registration we verified, years of verified history, how openly it names its entity, address and owners, and whether its website is intact. Worth 15 points.
Client terms
Are the client terms fair?
50out of 100
Fair
Counts for 15% of the score13% checked
What we checked
Policy riskNot checked yet
No published policy review
Critical clausesNot checked yet
No published policy review
Withdrawal rails50
2 rail(s): 2 fee-free of 2 known, 0 instant of 2 known, minimum unknown · Sep 18, 2026Source
Language parityNot checked yet
No published policy review
What this measures
How fair the client agreement is: the risk found in our policy review, the number of critical clauses, withdrawal rules, and whether the terms say the same in every language. Worth 15 points.
What trading costs and how clearly it is disclosed: pricing per account type, the all-in cost of EURUSD, instruments, platforms, leverage against regulated limits and the minimum deposit. Worth 20 points.
3 of 6 support checks (phone, email, 24/7 chat, 2+ languages, messenger, complaints email) · Sep 18, 2026
Reputation footprint30
Scam check reputation 7/10 · Sep 19, 2026
WIKILIX communityNot checked yet
0 approved review(s), fewer than 10
What this measures
How clients are treated: support channels, complaints about withdrawals and reputation from our investigation, and reviews by WIKILIX members. Worth 15 points.
75%Scam riskScam risk is our overall estimate that this broker is unsafe, from 0% (safe) to 100% (almost certainly a scam). It blends the six risk areas below, weighted by how strong the evidence is. Higher means riskier.
Likely scamOur overall call, based on the evidence we could verify. From safest to worst: Appears legitimate, Insufficient evidence, High risk (unverified), Likely scam, Confirmed scam. A separate "Not a broker" verdict is used when it does not really offer trading.Confidence: MEDIUMHow sure we are of this verdict, based on how much solid, checkable evidence we found. Shown as Low, Medium or High.
2.0/5Safety rating 2 out of 5
The Wikilix safety rating, from 1 to 5 stars. It mirrors the scam risk (5 = safest, 1 = riskiest), so a higher risk percentage means fewer stars.
Caibull is a likely scam and we could not treat it as safe. The Comoros (MISA) licence it advertises, number T2023415, is recorded on the regulator's own register under a different company, Eva Marke…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation7/10 · HighIs it overseen by a strict, well-known financial regulator? Offshore-only or missing licences score higher.Scored 0 (clean) to 10 (worst). This area is 7/10 (High).Identity & transparency8/10 · CriticalHow openly it shows who and where it is (legal entity, address, owners). Hidden details score higher.Scored 0 (clean) to 10 (worst). This area is 8/10 (Critical).Withdrawals & conduct4/10 · ModerateCredible reports of clients being unable to withdraw their money. More such reports score higher.Scored 0 (clean) to 10 (worst). This area is 4/10 (Moderate).Reputation7/10 · HighWhat independent reviews, regulators and watchdogs say about it. A poor track record scores higher.Scored 0 (clean) to 10 (worst). This area is 7/10 (High).Website claims8/10 · CriticalWhether the site claims (awards, years active, licences) actually check out. False claims score higher.Scored 0 (clean) to 10 (worst). This area is 8/10 (Critical).Operational history7/10 · HighHow long and how consistently it has genuinely operated. Brand-new or murky history scores higher.Scored 0 (clean) to 10 (worst). This area is 7/10 (High).
Editorial review
Updated
Broker Summary
What Wikilix has recorded about Caibull: its history, the licences it holds, its trading conditions and its fees.
Caibull Broker Overview
Caibull is an online forex and CFD brand operated by CaiBull Ltd, a company registered on the Island of Moheli in the Union of the Comoros under number HY01123442. It offers a single trading platform, MetaTrader 5, across four account tiers with minimum deposits from 10 USD to 200 USD, and quotes maximum leverage of up to 1:2000 on a lot based, stepped model. The company states it is licensed by the Mwali International Services Authority, an offshore authority whose licences carry no client money protection.
Caibull Regulation and License
CaiBull Ltd states on its that it holds licence number T2023415 from the Mwali International Services Authority (MISA), Island of Moheli, Union of the Comoros, described as an International Brokerage and Clearing House authorisation. The same licence number and company number are repeated in its Terms of Business, Withdrawal Conditions and AML policy. This is a claimed and unconfirmed licence: the authority operates no public licence register, so the number cannot be matched to an official record, and Caibull publishes no verification link of its own. Caibull also presents itself as part of a group, naming Finorka Ltd (company number C186708) as licensed by the Financial Services Commission of Mauritius under licence GB22200267. That licence is held by a separate company, and Caibull does not state that Finorka Ltd operates the trading service or holds client accounts.
Is Caibull Regulated?
Caibull is not regulated by any authority that supervises retail forex in a major market. The only licence claimed for the trading entity is an offshore one from the Comoros, and that claim has not been confirmed against an official record. Clients of CaiBull Ltd have no access to a statutory compensation scheme or an independent financial ombudsman.
CaiBull Ltd and KYMM Capital Ltd
The identity of the contracting company is inconsistent across Caibull's own documents. The website footer, the regulations page, the Withdrawal Conditions and the AML policy all name CaiBull Ltd. The definitions clause of the , which is the binding agreement, instead defines the Company as KYMM Capital Ltd trading as CaiBull, attributing to it the same registration number HY01123442 and the same licence T2023415. A third group company, Modisa Fintech Ltd, is registered in Cyprus under number HE 441220 and described as an independent representative handling payment services. The Cyprus Registrar of Companies confirms that company, incorporated on 4 December 2022, and records its previous name for the same company number as U Trade Markets Fintech Ltd.
Is Caibull Safe?
Nothing Caibull publishes can be independently confirmed to protect client money. The company states that client funds are held in segregated accounts with tier one banks and reconciled daily, but it names no bank, no auditor and no custodian, and an offshore licence of this class imposes no such obligation that a client could enforce. Its Terms of Business also reserve the right to act as a market maker, to hold positions contrary to the client's, and to cancel a trade where a quoted price is later judged faulty.
Caibull Account Types
Caibull offers four USD denominated accounts, all swap free, all with a minimum trade size of 0.01 lot and a 50 percent margin call.
CENT: from 10 USD, spreads from 1.2 pips, commission up to 0.10 USD, forex and gold only, maximum deposit 1,000 USD, one account per client, stop out 30 percent.
PRO: from 25 USD, spreads from 1.7 pips, no forex commission and 0.02 USD on shares, leverage to 1:1000, stop out 30 percent.
RAW: from 100 USD, spreads from 0.0 pips with 4 USD per lot on forex, leverage to 1:1500, stop out 20 percent, dedicated account manager.
VIP: from 200 USD, spreads from 0.8 pips, no forex commission, stop out 20 percent, dedicated account manager.
CENT and VIP are quoted with dynamic rather than fixed maximum leverage. Every tier allows up to five accounts per client except CENT, which allows one.
Caibull Spreads, Commissions and Fees
The cheapest advertised spread is 0.0 pips on the RAW account, which charges 4 USD per lot on forex. The commission free tiers start at 0.8 pips on VIP and 1.7 pips on PRO, and share CFDs carry 0.02 USD per lot on PRO, RAW and VIP. Caibull states in its Withdrawal Conditions that it charges no deposit or withdrawal fees, and that any charge is levied by the bank, card issuer or payment gateway rather than by the company. No inactivity fee is published.
Caibull Leverage
Maximum leverage is 1:2000 and is lot based, stepping down as net open lots per symbol rise and varying by asset class: 1:1000 on minor currency pairs, 1:500 on metals, indices and oils, 1:200 on exotic pairs, 1:50 on shares and 1:10 on crypto. Leverage at this level is not permitted for retail clients in most regulated markets.
Caibull Trading Platforms
MetaTrader 5 is the only platform, running on the Caibull-Trade server with Expert Advisor support, depth of market and one click trading. Caibull advertises Windows, Mac, web and mobile access, but on its the Mac download and the web trader link both resolve to the same Windows installer.
Caibull Deposits and Withdrawals
Caibull documents two funding routes, cards (Visa and Mastercard) and bank transfer. Withdrawals must return to the method used for the deposit, and a card refund cannot exceed the amount originally deposited on that card, with any balance paid by bank transfer. Card deposits older than six months cannot be refunded to the same card, and expired cards cannot be used. Requests are handled Monday to Friday between 08:00 and 17:00 server time and processed the same or the next working day, which is narrower than the instant processing advertised on the home page. Caibull can cancel a withdrawal request where KYC documents are not supplied within seven days, and clients whose accounts are only partially approved cannot withdraw at all. No minimum or maximum withdrawal amount is published.
Caibull Support
Support is by email at support@caibull.com, a web contact form and a live chat widget, with cover advertised as 24/5. Caibull publishes no telephone number anywhere on its site, and complaints are directed to the same general support address. The only postal address given is the registered office in the Comoros.
Caibull Pros and Cons
Strengths:
Trading terms are published in unusual detail, with symbol level spread, commission and leverage tables for every asset class.
A complete set of legal documents is available without registering, including withdrawal conditions and an order execution policy.
A 10 USD entry point, swap free trading on every tier and stated no fee funding.
Limitations:
The only licence claimed for the trading entity is offshore and unconfirmed, with no compensation scheme or ombudsman behind it.
The binding Terms of Business names a different company, KYMM Capital Ltd, as the contracting party.
The company reserves the right to act as a market maker and to hold positions against its clients.
The home page advertises more than 1,000 instruments, while the published instrument tables total about 173.
No telephone number and no named officer is published.
Caibull Review and Assessment
Caibull presents a detailed and well organised retail offer built on MetaTrader 5, with low entry costs and terms that are easier to read than most in this segment. What sits behind it is thin: an offshore licence that cannot be checked, a contracting entity that the binding agreement names differently from every other page, and a group structure in which the only conventionally regulated company is not the one taking the trade. Anyone considering an account should treat the deposit as fully at risk and confirm in writing which legal entity will hold the money before funding.
Website archive
Captured
Website snapshots
4 full-page captures of Caibull's own site, archived so what they said can still be read after the pages change.
Every licence on record has expired or been closed on its register. We hold no evidence that Caibull is regulated today.
1 of 1 checked
Licences on recordEvery licence or registration recorded for this broker, whether the broker claims it or our check found it.
1
Confirmed on registerLicences we located on the issuing regulator's own public register, with a screenshot taken at the time.
0
Tier 1 or 2Licences from tier-1 or tier-2 authorities (FCA, ASIC, CySEC and peers), the strongest client protection. A registration we could not confirm as a licence is not counted.
0
OffshoreLicences from offshore registers, which typically carry no compensation scheme and lighter oversight.
0
WIKILIX
Licence intelligence
The only licence on file
Licence Verification Record
Moroni International Services AuthorityT2023415
Wikilix read the MISA register on Sep 19, 2026. This is what it said.
Jurisdiction
ComorosOffshore
Authority strength
Tier 4
Licence type
Retail Forex License
Register status
Registered to Eva Markets Ltd, not to CaiBull Ltd; listed Active on the register, though the recorded term ran to Nov 2025.
Effective
Nov 27, 2023
Expires
Nov 27, 2025
Shown on the Caibull website
Shown
No longer in force
Checked Sep 19, 2026
What our check found
An offshore registrar authorisation. On the MISA register this licence (T2023415) and company number HY01123442 are recorded to Eva Markets Ltd (evamarkets.com), a different, now-defunct broker, not to CaiBull Ltd. Client protection: None in practice; MISA is not a functioning financial supervisor and its licences have been publicly disavowed. Effective: 27 Nov 2023. Expires: 27 Nov 2025.
Client protection under this licence
No compensation scheme
No complaints route
These are the rules MISA sets for the firms it licenses. They are not a statement about how Caibull applies them, or about which of its companies would hold your account.
A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
1Site-wide footer, Restricted Jurisdictions: 'Caibull does not provide services to residents of jurisdictions of United States of America, Sudan, Syria, Iran, North Korea, Myanmar and the United Arab Emirates' (https://www.caibull.com/). US, SD, SY, KP, MM and AE are recorded as confirmed blocks: each is named in that text and each is also absent from the registration country selector, so both sources agree.
2Registration form country selector at https://www.caibull.com/open-account/ is a closed list of 117 countries, which is what actually governs who can onboard. Those 117 codes are recorded as the whitelist, with the selector as the evidence.
3Conflict, resolved in favour of the onboarding form: the footer text at https://www.caibull.com/ names Iran as a jurisdiction Caibull does not serve, but Iran is still offered in the registration selector at https://www.caibull.com/open-account/. IR is therefore recorded in the whitelist and not as a confirmed block, and the contradiction is left visible here rather than resolved silently.
4The United States is named as a block but its dependent territories are not mentioned anywhere on the site, so PR, GU, VI, AS and MP are recorded as dependent territories covered by the parent block rather than as confirmed blocks in their own right.
5Terms of Business (https://www.caibull.com/docs/Caibull_Terms-of-Business.pdf) was read in full: it has no capacity, eligibility or restricted-jurisdiction clause at all, and names no country. Its contents are Introduction, Acknowledgement, Scope, Definitions, Internet and Electronic Trading, Market Making, Arbitrage, Prohibited Trading, Untrue Trades, Islamic Accounts, Trading Volume Limitation, Default, Advertising and Refund and Cancellation.
6AML and KYC Policy (https://www.caibull.com/docs/Caibull_AML-KYC-Policy.pdf), clause 5 Sanctions and Screening, says only that Caibull 'takes into consideration applicable sanctions and relevant international restrictions' and 'may refuse to establish or continue a relationship'. No country or region is named, so no codes were inferred from it.
7Withdrawal Conditions (https://www.caibull.com/docs/Caibull_Withdrawal-Conditions.pdf) was read in full and sets no country restriction; it restricts payment routes and KYC status only.
8No dedicated restricted or accepted countries page exists. The site publishes 31 pages in its sitemap (https://www.caibull.com/sitemap_index.xml) and none of them covers country eligibility; the regulations page says only that services are provided 'where such provision is not contrary to local law' and directs the reader to contact support.
Deposits & withdrawals
Funding Methods
2 ways to fund an account. 2 with no deposit fee.
2 methods
Method
Deposit fee
Withdrawal fee
Min deposit
Withdrawal min / max
Processing
Visa / MastercardCredit CardCaibull states it charges no deposit or withdrawal fees and that any charge comes from the card issuer or payment gateway. Withdrawals must return to the card used for the deposit and cannot exceed the amount deposited on it; the balance above that is sent by bank transfer. Card deposits older than six months cannot be withdrawn to the same card, and expired cards cannot be refunded. Withdrawal requests are handled Monday to Friday 08:00 to 17:00 server time and processed the same or next working day. No per channel minimum or maximum is published.
Free
Free
—Not recorded
—Not recorded/—Not recorded
Up to 24 hours
Bank TransferBank TransferNamed by Caibull as the alternative route used when a withdrawal cannot go back to the original card. The company states it charges no fees of its own, with bank or gateway charges borne by the sender or receiver. Payments may need to be in the client's own name, and no per channel minimum or maximum is published.
MetaTrader 5 on the Caibull-Trade server, with Expert Advisor support, depth of market and one click trading. The Mac and web trader links both point to the Windows installer.
CaiBull LtdActiveComoros·Registration HY01123442The entity Caibull names as the licensed operator of the trading service, holding Mwali International Services Authority licence T2023415. The Comoros does not publish a searchable public company register and no equivalent authoritative record was found, so the registration could not be confirmed independently. The company's own Terms of Business defines the contracting Company as KYMM Capital Ltd trading as CaiBull under this same number and licence, which conflicts with every other page and document on the site.
Modisa Fintech LtdActiveCyprus·Registration HE 441220·Established Dec 4, 2022Group company Caibull names as an independent representative handling payment services, expressly not operating any trading terminal. Confirmed on the Cyprus Department of Registrar of Companies and Intellectual Property as a registered private company incorporated on 4 December 2022, whose registered office matches the address the site publishes. The register also records a previous name for the same company number, U Trade Markets Fintech Ltd.
Finorka LtdActiveMauritius·Registration C186708Group company Caibull names as licensed and regulated by the Financial Services Commission of Mauritius under licence GB22200267. Caibull does not state that this company operates its trading service or that client accounts are held under it, and the Mauritius company register could not be queried, so neither the registration nor the licence was confirmed. Its registered office is a corporate services provider address.
Company registry check
Checked
Company Registration
Caibull names CAIBULL Ltd as the operating company. We could not confirm that registration on the registry.
By email at support@caibull.com, through the contact form, or via the live chat widget on the site. Complaints go to that same general support address under the Complaints Handling Procedure. There is no telephone number published anywhere on the site and no named compliance officer, and the only postal address is the registered office in the Comoros.
It reserves the right to. Section 6 of the Terms of Business states that Caibull may act as a market maker in forex and CFD contracts, may hold positions contrary to a client's, and may retain a proprietary position with the intention of making a trading profit. The same document acknowledges that this creates a conflict of interest between the company and its clients.
Caibull says so, describing segregated accounts held with tier one banks and reconciled daily. None of it can be checked: no bank, auditor or custodian is named, and the offshore licence it claims imposes no segregation duty that a client could enforce. Treat the statement as a marketing claim rather than a protection you could rely on.
Its registration form offers a closed list of 117 countries, and that list is what actually governs who can open an account. Caibull separately states that it does not serve residents of the United States, Sudan, Syria, Iran, North Korea, Myanmar or the United Arab Emirates. Six of those seven are indeed missing from the registration list, but Iran is still selectable, so the two do not quite agree.
Caibull publishes symbol level tables covering about 70 currency pairs, 66 share CFDs, 16 crypto CFDs, 10 index CFDs, 8 metals and 3 energy contracts, which is roughly 173 instruments in total. Note that the home page advertises more than 1,000 instruments, a figure the published tables do not support. The CENT account is limited to forex and gold.
MetaTrader 5 only, running on a server named Caibull-Trade, with Expert Advisor support, depth of market and one click trading. Caibull advertises Windows, Mac, web and mobile access, though on its platforms page the Mac download and the web trader link both lead to the same Windows installer.
Yes, and the conditions are set out in its Withdrawal Conditions document. Caibull can cancel a request if you do not supply updated identification or bank details within seven days, if the request is incomplete, or if you chose a withdrawal method that breaks its same method rule. Clients whose accounts are only partially approved cannot withdraw anything until their KYC documents are accepted.
Caibull states that requests are handled Monday to Friday between 08:00 and 17:00 server time and processed the same or the next working day, which is narrower than the instant processing its home page advertises. The company says it charges no deposit or withdrawal fees of its own, and that any charge comes from your bank, card issuer or the payment gateway. No minimum or maximum withdrawal amount is published.
The two routes Caibull documents are cards, meaning Visa and Mastercard, and bank transfer. Withdrawals must go back to the method used for the deposit, and a card refund cannot exceed what was originally deposited on that card, with the remainder paid by bank transfer. Card deposits older than six months and expired cards cannot be refunded to the card at all.
The lowest advertised spread is 0.0 pips on the RAW account, which charges 4 USD per lot on forex. The commission free tiers are more expensive in spread terms, starting at 0.8 pips on VIP and 1.7 pips on PRO, with CENT at 1.2 pips and a commission of up to 0.10 USD. Share CFDs carry 0.02 USD per lot on PRO, RAW and VIP.
Up to 1:2000, but only on major currency pairs and only on small positions. Leverage is lot based and steps down as your net open lots on a symbol rise, and it varies by asset class: 1:1000 on minor pairs, 1:500 on metals, indices and oils, 1:200 on exotic pairs, 1:50 on shares and 1:10 on crypto. Leverage at this level is not permitted for retail clients in most regulated markets.
10 USD, on the CENT account. The other tiers start at 25 USD for PRO, 100 USD for RAW and 200 USD for VIP. All accounts are denominated in USD, and the CENT account is capped at a maximum deposit of 1,000 USD.
There is no evidence that Caibull is a scam, and equally nothing that confirms it is safe. It runs a real trading service on MetaTrader 5 and publishes an unusually complete set of legal documents and pricing tables. What cannot be established is the thing that matters most: whether anyone supervises it, and which legal entity actually holds client money. Treat it as unverified rather than clean.
Caibull is a brand of CaiBull Ltd, registered under number HY01123442 at Bonovo Road, Fomboni, Island of Moheli, Union of the Comoros. The picture is not entirely consistent: the definitions clause of the Terms of Business names the contracting company as KYMM Capital Ltd trading as CaiBull, using the same registration number and licence. No director or beneficial owner is named anywhere on the site.
Not by any authority that supervises retail forex in a major market. Caibull claims a single licence for its trading entity, number T2023415 from the Mwali International Services Authority in the Comoros, and that claim is unconfirmed because the authority operates no public licence register. The company also advertises a Mauritius licence, but that one is held by a separate group company rather than by the entity you would trade with.
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