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BlackBull Markets Review

BlackBull Markets review

 

Overall, BlackBull Markets can be summarised as a credible and trusted broker regulated by the FMA and FSA.  Very competitive in terms of its trading fees (against major currency pairs). BlackBull Markets is a true ECN, no dealing desk brokerage specializing in Forex, CFDs, Commodities, Fibre Optic Communications, and Fintech solutions for a global clientele.

 

Blackbull Markets at a glance

 

Broker's NameBlackBull Markets
📍 HeadquarteredAuckland, New Zealand
📅 Year Founded2014
⚖️ Regulating AuthoritiesFMA, FSA
📃 License numberFSP403326
🌐 Countries not accepted for tradeAfghanistan, Belarus, Burundi, Canada, Central African Republic, Cuba, Democratic Republic of the Congo, Gaza Strip, Guinea Bissau, Haiti, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, Nicaragua, North Korea, Pakistan, Panama, The Philippines, Russia, Somalia, South Sudan, Spain, Sudan, Syria, Ukraine, United States, Venezuela, West Bank, Yemen, and Zimbabwe
📒 Account TypesECN Standard
ECN Prime
ECN Institutional
☪️ Islamic account (swap-free)Yes
👍 Demo AccountYes
💰 Sign up bonus No
📊 Institutional AccountsYes
📊 TradingView integrationYes
📊 Share trading of underlying assetYes
📊 Managed AccountsYes
📈 Maximum Leverage1:500
💰 Minimum Deposit$50
➕ Deposit OptionsBank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill, UnionPay
➖ Withdrawal OptionsBank Wire, VISA, MasterCard, FasaPay, Neteller, Skrill, UnionPay
💻 Platform TypesMT4, MT5, WebTrader, FIX, API
📈 Tradable assets offeredOver 23 000 tradable assets
📱 OS CompatibilityWeb, Desktop, Android, iOS (Apple)
👨‍💼 Languages supported on WebsiteEnglish, Chinese, German, French, Portuguese, Spanish
👥 Customer Support LanguagesEnglish, Chinese, German, French, Portuguese, Spanish
☎️ Customer Service Hours24/6
📌Open an account👉 Click Here 👈

 

Overall Rating

4.7/5

Rated #12 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

FMA, FSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Tradeable assets

23 000

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

BlackBull Markets Review – 19 Key Point Overview

 

  1. ☑️ Blackbull Markets at a glance

 

 

BlackBull Markets Overview

 

BlackBull Markets is a New Zealand forex broker company.

A Forex broker is a company that provides traders with access to platforms that allow them to buy and sell foreign currencies.

Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.

Forex broker services are also provided for institutional clients and large companies such as investment banks.

BlackBull Markets was founded in 2014 in Auckland, New Zealand, by a team with a collective experience of 10 years of institutional Forex.

BlackBull Markets is a true electronic communication network (ECN), no dealing desk brokerage that specializes in Forex, CFDs, Commodities, Fibre Optic Communications, and Fintech solutions to a global clientele.

BlackBull Markets has experienced rapid growth due to its premium trading tools and products offered and its ability to supply leading-edge fintech services to clients.

The company offers professional services like personal account managers, daily market condition updates, and analysis as part of an overall superior product to clients.

BlackBull Markets does not accept clients from OFAC sanctioned countries, the United States of America, Spain, or any country or location deemed too risky by its compliance team.

BlackBull Markets also only accepts New Zealand clients that fall under the ‘Wholesale Investor’ or ‘Eligible Investor’ definition as per New Zealand Financial Services Providers Act FSPA 2008.

 

Blackbull Markets Account types

🔍 Features🥇 Standard account🥈 Prime account🥉 Institutional Account
💳 Minimum Deposit$50$2000$20 000
📊 Leverage1:5001:5001:500
💳 Spreads from0.80.20.0
☪️ Islamic account (swap-free) optionYesYesYes
💰 Commission feesNo$6 per lot
📉 Micro lots size0.10.1
📉 Access to all Tradeable InstrumentsYesYesYes

 

Standard Account

🔍 Features🥇 Standard account
💳 Minimum Deposit$50
💰 Commission feesNo
📊 Maximum leverage1:500
📉 Micro lots size0.1
💳 Spreads from0.8
📉 Access to all Tradeable InstrumentsYes
☪️ Islamic account (swap-free) optionYes

 

The ECN Standard Account gives access to all tradeable instruments at a deposit of just US Dollar 50. It is commission-free and ideal for traders looking for a Forex experience with good value. You can trade with the Standard Account on any of their platforms.

 

Prime Account

🔍 Features🥈 Prime account
💳 Minimum Deposit$2000
💰 Commission fees$6 USD per lot
📊 Maximum leverage1:500
📉 Micro lots size0.1
💳 Spreads from0.2
📉 Access to all Tradeable InstrumentsYes
☪️ Islamic account (swap-free) optionYes

 

The ECN Prime Account is suitable for traders looking for a more competitive edge, with a commission of just US Dollar 3 lots per 100 000 traded and spreads starting at 0.2 pips. The Prime Account requires a minimum deposit of 2000 USD.

 

ECN Institutional Account

🔍 Features🥉 Institutional Account
💳 Minimum Deposit$20 000
💰 Commission feesCustomizable
💳 Spreads from0.0
📊 Maximum leverage1:500
💻 Complimentary VPS AccessYes
💻 Customizable MAM/PAMM Platform availableYes
☎️ Dedicated technical support24/5
☪️ Islamic account (swap-free) optionYes

 

The ECN Institutional Account is provided to larger traders with a minimum initial deposit of 20 000 USD and offers complimentary VPS Access, customizable commission structures, and White Label branding when preferred.

Successful and high-volume traders are entitled to several BlackBull Markets rebates and incentives to traders.

An Active Trader Account’s benefits include a dedicated account manager that is available at all times, segregated customer accounts, advanced reporting, VPS hosting services, and custom solutions.

Institutions can choose VIP Prime accounts with a personal account manager and Muslim clients to have access to an Islamic Account or swap-free account that operates in full compliance with Sharia Law.

Such an account is offered as a variant of the Standard, Prime, or Institutional Accounts, with all other features of the regular accounts.

Every account type allows hedging, scalping, and automated trading via Expert Advisors.

 

MAM/PAMM Account

 

MAM and PAMM accounts are also available and for those looking at social or copy trading, BlackBull Markets partnered with ZuluTrade and myfxbook to make this available.

ZuluTrade is an online social and copies trading platform which allows traders to copy the trades of more experienced traders in the forex and financial markets to achieve a level of automated trading.

This social element also enables traders to leave feedback and share ideas with others. ZuluTrade was founded in 2007 and by 2009, the company had more than 4 500 ‘expert’ traders or signal providers whose portfolios users could copy to make money.

In 2015 the platform was awarded an EU Portfolio Management License from the European Union, making it both legitimate and respected in the trading world.

 

BlackBull Markets Islamic Account

 

BlackBull Markets have created a swap-free account that operates in full compliance with Sharia Law and is offered as a variant of the Standard, Prime, and Institutional Accounts, with all the great features of the regular account types.

 

BlackBull Markets Demo Account

 

Blackbull Markets’ demo account sign-up is fully digitalized and hassle-free. It can be done within a few minutes and as soon as the trader is registered, demo trading can commence once the MetaTrader 4 or FIX API trading platform has been installed on either Desktop PCs that use Linux, Windows, macOS, or mobile devices such as tablets and smartphones that run Android or iOS operating systems.

 

BlackBull Markets Deposit and Withdrawals

💰 Funding Method➕ Deposit➖ Withdrawal
💳 Visa and Mastercard✔️ Yes✔️ Yes
💳 Bank Wire✔️ Yes✔️ Yes
💳 Skrill✔️ Yes✔️ Yes
💳 Neteller✔️ Yes✔️ Yes
💳 FasaPay✔️ Yes✔️ Yes
💳 UnionPay✔️ Yes✔️ Yes
💳 Paypal✔️ Yes✔️ Yes
💱 Currency typeUSD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, and ZARUSD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, and ZAR
⌛ Processing time24 hours24 hours

 

Depositing funds to a BlackBull Markets account is straightforward. Traders can use several methods including credit or debit cards, bank wire, FasaPay, Neteller, Skrill or UnionPay.

BlackBull Markets accept deposits in USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, and ZAR. All payments are instant, except from Bank Wire, which takes one to three days to process.

For the withdrawal process, you can also use those methods, but if you are using Credit Card, Skrill, FasaPay, Neteller, or UnionPay, you can only withdraw an amount up to what you have deposited via that method.

Additional profits can only be sent via Bank Wire to a bank account and you must be able to prove ownership of that account.

BlackBull Markets strives to process all withdrawals within 24 hours. BlackBull Markets does not charge for sending payments, but transfer fees are applied by remitting banks or providers.

Once a bank transfer withdrawal has been approved and processed, it may take three to five days more for the money to arrive in your account.

 

Cost and Fees, Commissions, and Spreads

🔍 Features🥇 Standard account🥈 Prime account🥉 Institutional Account
💳 Minimum Deposit$50$2000$20 000
💳 Spreads from0.80.20.0
💰 Commission feesNo$6.00 per lotNegotiable
📒 Open an Account 👉 Click Here 👈👉 Click Here 👈👉 Click Here 👈

 

The cost of trading depends on different factors like commissions, spreads, and margins.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions will vary between different brokers and also depends on the asset being traded and the type of service offered by the broker.

Execution-only brokers, which is a broker that does not involve in any personal investment advice and gives traders complete control over how they trade the markets, tend to have lower commissions.

While the contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, its trading on shares will incur a commission.

CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

BlackBull Markets’ Standard Account has a minimum round-trip cost for trading a Forex currency pair of at least 0.8 pips without commission.

The Prime Account has a minimum round-trip cost of trading the EUR/USD at a minimum of 0.1 pips plus commission equivalent to 0.6 pips. Thus, holders of these types of accounts will never pay less than 0.7 pips.

The Institutional Account has spread as low as zero and negotiable commission rates. This offers a competitive deal for large depositors with at least US Dollars 20 000 in funds. BlackBull Markets do not charge account inactivity fees.

 

Leverage

 

The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage. Such leveraged products magnify a trader’s potential profit – but of course, also increase the potential loss.

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has US Dollar 1,000 in his or her trading account and is trading ticket sizes of 500,000 USD/JPY, that leverage will equate to 500:1.

BlackBull Markets offers maximum leverage of 500:1 across all types of forex accounts.

 

Bonuses

 

Forex brokers tend to lure new traders with offers of attractive deposit bonuses. This can be useful, but it is essential to discern what a proper bonus is.

Such a bonus is but a way to compensate traders for choosing a certain broker since once the account is opened, the trader will have the same expenses as any other.

The bonus is just a reward for the trader’s choice that gives some of these expenses back to the trader, once proving himself as an active trader.

Traders should also realize that bonuses and promotions are nearly always subject to arduous terms and conditions. It is very rare for such an offer to be worthy of seriously influencing a trader’s decision to open an account with a certain brokerage.

No bonuses or promotions were currently at the time of this review.

 

Trading Platforms, Software, and its Features

 

The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades.

A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

The decision about which platform to choose will depend on what a client would like to trade, therefore it will be one of the criteria when choosing a broker too.

BlackBull Markets provides traders with the world-renowned MetaTrader 4 which can be downloaded on a preferred platform, including MetaTrader 4 Mac, MetaTrader 4 iPhone, MetaTrader 4 Android, and MetaTrader 4 iPad/Tablet.

The company also offers MetaTrader 5 and WebTrader.

MetaTrader 4 is the worldwide choice of traders because it offers competitive spreads and fees, research and training tools, as well as advanced customizable charting, automated trading, trading signals, Expert Advisor plugins, and live newsfeeds.

Traders have the opportunity to trade in many different languages on this platform and multi-account manager (MAM) accounts are also available.

MetaTrader 5 succeeded MetaTrader 4 and is a recognized multi-asset platform that offers outstanding trading possibilities and technical analysis tools, as well as being capable of enabling automated trading systems (trading robots) and copy trading.

MetaTrader 5 allows users to experience the freedom of movement to the full extent. The Web Platform provides enormous possibilities and allows a trader to work from any web browser or device.

Traders can stay active and trade the full 24 hours a day from smartphones and tablets if they have chosen this winning option.

 

Additional available services that increase the functionality of this platform and make its capabilities almost unlimited include:

 

• The built-in Market of trading robots,

• The Freelance database of strategy developers,

• Copy Trading and

• The Virtual Hosting service (Forex VPS).

BlackBull Markets also offers Virtual Private Servers and NYC Servers.

 

Markets, Products, and Instruments

🔍 Instruments📊 Available
📈 Forex✔️ Yes
📈 Commodities✔️ Yes
📈 Indices✔️ Yes
📈 Precious metals✔️ Yes
📈 Energy✔️ Yes
📈 Cryptocurrencies✔️ Yes

 

Forex

 

Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities

 

As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty.

 

Indices

 

Equity or stock indices are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific set of the largest companies of a nation or they can represent a specific stock market.

 

Precious metals

 

The trading of gold and other precious metals involves hard commodities that are contract-based tradable goods.

 

Energy

 

The high volatility of energy prices due to political and environmental factors, supply and demand, extreme weather conditions and global economic growth is a typical feature of this product, making it another popular trading choice.

 

Cryptocurrencies

 

Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels since its inception in 2008. It dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability. Litecoin is another very popular altcoin and LTCUSD is a fork of Bitcoin (BTCUSD), copied from Bitcoin’s code and with some alterations and launched as a new project.

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system. It allows instant cross-border fund transactions at very low costs.

Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Bitcoin Cash (BCH) was created by the Bitcoin hard fork in 2017 as a new version of the blockchain with different rules.

BlackBull Markets offers options that include 64+ currency pairs, indices from major markets, precious metals such as gold and silver, and commodities including energy, gas, and oil.

BlackBull Markets focuses on providing the lowest cost possible for forex traders and offer clients access to this market with flexible leverage up to 500:1.

This is the only market that is open 24 hours a day, each day of the week, providing clients the opportunity to find the most suitable conditions for their personal trading strategy.

Clients can access new markets and diversify their portfolios with BlackBull Markets’ range of Index CFDs since BlackBull Markets provide ultra-low latency trading on CFDs. BlackBull Markets provides access to a range of commodities across all their platforms.

These commodities are primary resources that are frequently used in industry, production, foodstuff, and general daily consumption, and are affected by diverse factors, other than that of other asset classes.

BlackBull Markets allows the trading of precious metals with flexible leverage and minimum trade sizes. They offer gold and silver, which are useful assets to diversify a trading strategy and are often flocked to as a safe haven during periods of market turmoil.

Trading products such as natural gas and oil have been made accessible thanks to BlackBull Markets’ low-cost pricing model, flexible leverage options, and fast execution speeds.

 

Safety and Regulations

 

BlackBull Markets is regulated by the FMA and FSA.

BlackBull Markets is incorporated in New Zealand and registered with the Financial Services Provider Registry (FSPR), register number FSP403326.

This ensures increased transparency for clients, the provision of an electronic register for clients to view information about FSP companies, and assistance in meeting its AML/CFT international obligations.

BlackBull Markets is also a member of the Financial Services Complaints Limited (FSCL) dispute resolution scheme and maintains a strict Anti-Money Laundering (AML) / Counter Financing of Terrorism (CFT) policy to ensure ethical business conduct.

ANZ Bank, one of the leading banks in Australasia, is their banking partner.

 

Customer Support

 

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.

 

BlackBull Markets provides several support articles on account management and clients needing assistance can get support articles on:

 

  • How do I deposit funds and how do I withdraw funds?
  • What are Minimum Deposits and Funding Methods?
  • How do I transfer Funds in between my MT4 Accounts?

 

Clients can also learn all about the basics of trading with BlackBull Markets in support articles on:

 

  • Who are your Liquidity Providers?
  • Where do your Forex prices come from?
  • Trading Conditions Overview
  • What are your Contract Specifications?
  • What are your other trading products?
  • Leverage Tiers

 

Awards and Recognition

 

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation.

BlackBull Markets was a winner in the Deloitte Fast 50 and awarded the Fastest growing exporter for Auckland, New Zealand, in 2018 and 2019.

 

Research

 

Potential traders should always do as much possible research about speculative trading before commencing to do it.

Trading with confidence and success relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

BlackBull Markets offers several trading resources including market reviews, an economic calendar, contract specifications, and more.

 

Education and Training

 

Before starting to trade, potential clients of BlackBull Markets should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.

If BlackBull Markets’ website itself does not provide enough means, a trader should explore other information sources and means to obtain that skills and knowledge.

An expert team of analysts from BlackBull Markets provides a range of resources explaining the details of market fundamentals, how to use technical indicators, and everything else a new trader needs to start in the foreign exchange market.

BlackBull Markets provide detailed insight into the global forex market and a guide to the advantages and risks, what to look out for, and where to find opportunities with various currencies to trade.

Traders can watch trading videos and stay up to date with the latest movements in the financial markets with market analysis too.

BlackBull Markets regularly releases trading guides to inform traders about the principles of trading and a Trading Glossary gives basic definitions of various financial and trading terms.

 

Conclusion

 

BlackBull Markets can be tried out by potential traders, knowing that their fees are reasonably standard while trading conditions are very good.

The range of assets offered is fair enough, making BlackBull Markets suitable for traders happy to focus more on Forex, the major metals and energies, and major stock indices only.

 

 

You might also like: Blackbull Markets Sign Up Bonus

You might also like: Blackbull Markets Demo Account

You might also like: Blackbull Markets Minimum Deposit

Disclaimer

 

BlackBull Markets warns all potential traders that Forex and CFD trading always carries a high level of risk and may not be suitable for all investors.

Before clients decide to trade the products offered by BlackBull Markets, they are advised to carefully contemplate their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

When traders use margin leveraged accounts, they should maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin carries a high level of risk.

While BlackBull Markets usually makes all efforts to fill a trade at the price requested, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement.

Potential traders should first acquaint themselves with all the risks associated with trading on margin and seek advice from an independent financial advisor if they have any doubts.

 

Frequently asked questions

 

Trading Environment

 

How many instruments can I trade with BlackBull Markets?

BlackBull Markets offers options that include 64+ currency pairs, indices from major markets, precious metals such as gold and silver, and commodities including energy, gas, and oil.

 

Which platforms are supported by BlackBull Markets?

BlackBull Markets provides the following popular trading platforms:

  • MT4
  • MT5
  • WebTrader
  • FIX
  • API

 

Does BlackBull Markets offer leverage?

Yes. BlackBull Markets offers maximum leverage of 1: 500

 

What spreads can I expect with BlackBull Markets?

BlackBull Markets offers variable spreads on its various accounts. The Institutional Account has spread as low as zero and negotiable commission rates. This offers a competitive deal for large depositors with at least US Dollars 20 000 in funds.

 

Does BlackBull Markets charge a commission?

More information on commissions can be obtained from the customer support service.

 

Are BlackBull Markets regulated?

Yes, BlackBull Markets is regulated by the FMA and FSA

 

Is BlackBull Markets a recommended forex trading broker for experts and beginners?

BlackBull Markets offers a good trading environment for all types of traders.

 

What is the overall rating out of 10 for BlackBull Markets?

9/10

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.

 

Does BlackBull Markets offer a demo account?

Yes

 

Can I convert my demo account to a live trading account with BlackBull Markets?

Not clear from the information on the company homepage.

 

Which live trading accounts does BlackBull Markets offer?

  • ECN Standard Account
  • ECN Prime Account
  • ECN Institutional Account

 

What are the available deposit currencies for a live trading account?

USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY and ZAR.

 

Deposits and Withdrawals

 

What is the minimum deposit for BlackBull Markets?

US Dollar 50

 

How do you make a deposit and withdrawal with BlackBull Markets?

BlackBull Markets offers the following deposit and withdrawal methods:

  • Bank Wire
  • VISA
  • MasterCard
  • FasaPay
  • Neteller
  • Skrill
  • UnionPay
  • Paypal

The same method as used to fund an account must usually be used to withdraw money and monies will be only refunded to accounts in the same name as the trading account.

 

Does BlackBull Markets charge withdrawal fees?

No, but fees from a financial institution may apply

 

How long does it take to make a withdrawal?

Once a bank transfer withdrawal has been approved and processed, it may take three to five days more for the money to arrive in your account.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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