The Ultimate BlackBull Markets Review
- Free Demo Available: Yes
- Minimum Deposit: $200
- Regulations: FSPR, FMA New Zealand
- Payment methods: Mastercard, Visa, Bank Transfer, Neteller, Skrill, UnionPay, FasaPay
- Features: BlackBull Markets’ unique feature lies in its stated goal of delivering an “institutional” trading experience to retail clients, No-Dealing Desk Broker (NDD), with Straight Through Processing (STP) all done on a true ECN, State of the art Equinix servers, based in New York (NY4), London (LD5) and Tokyo (TY3)
Table of Contents
- 1 The Ultimate BlackBull Markets Review
- 2 Summary: What to expect from BlackBull Markets
- 3 3 Ways to Get the Most Out of BlackBull Markets
- 4 BlackBull Markets Fees to Trade Forex
- 5 Countries Where BlackBull Markets is Available
- 6 BlackBull Markets Background
- 7 Breaking Down BlackBull Markets
- 8 Did you Know that...
- 9 Opening an Account
- 10 BlackBull Markets Trading Platforms
- 11 What Makes BlackBull Markets Unique?
- 12 BlackBull Markets Pros & Cons
- 13 Bottom Line: Is BlackBull Markets a Good Choice to Trade Forex?
Summary: What to expect from BlackBull Markets
BlackBull Markets is a CFD and Forex broker that was founded in 2014. Based in New Zealand, their headquarters are located in Level 22/120 Albert Street, Auckland Central, Auckland 1010.
They have other offices in New York, Malaysia, England, Hong Kong, and Tokyo. They offer more than 300 tradable assets and maximum leverage that reaches up to 500:1.
With 30 forex pairs and 14 CFDs, this regulated broker provides traders with many accounts. Each of these is segregated, keeping your funds separate from the company’s, thus protecting you from bankruptcy.
3 Ways to Get the Most Out of BlackBull Markets
BlackBull Markets offer a demo account that will allow you to paper trade with real-time quotes. You can even use the maximum leverage, try out a new strategy, or practice your trading.
In GMT time you will be able to keep up with all the major world events that could change the direction of your asset.
With their MT4 platform, you can trade on the go from your phone. This is ideal if you have to travel or make a fast trade if the market suddenly changes.
BlackBull Markets Fees to Trade Forex
Below we have listed the specific fees and commissions along with their cost.
- Spreads: they start at 0.0 pips.
- Round turn transaction cost: also known as round trip cost, the minimum is at 0.8 pips for EUR/USD for the standard account. It will vary depending on the account.
- Swap fee: this broker charges fees for overnight trades which are calculated through the trading platform.
- Inactivity fee: there are no inactivity fees on this broker.
Regulation and security
A regulated broker is important because it ensures the interest of financial businesses and clients. BlackBull Markets is registered in their home country, New Zealand in the Financial Services Provider Registry (FSPR). Any financial firm or company in New Zealand has the obligation to register.
They are also members of the Financial Services Complaint Limites (FSCL). FSCL is independent and they are in charge of financial disputes.
Countries Where BlackBull Markets is Available
Thanks to their regulations, BlackBull Markets can receive many clients from around the world. Operating globally is important to access different markets and clients.
Although this broker accepts many countries, some of these are Australia, Thailand, Canada, United Kingdom, South Africa, Chile, Denmark, United Arab Emirates, Hong Kong, India, Singapore, and many more. However, U.S clients are not allowed.
BlackBull Markets Background
BlackBull Markets is a broker founded in Auckland, New Zealand in 2014 when the current management decided to team up and offer retail clients forex and CFD trading. Michael Walker is the Co-Founder and CEO of the company.
After almost a decade of work, they are present globally. They offer fintech development, special tools, and data security.
This is an ECN broker which stands for Electronic Communication Network. It is a computerized system that allows traders to make financial transactions directly with other traders.
Breaking Down BlackBull Markets
Every broker offers different features and functionalities. These will vary according to the assets they offer, account types, and platforms. Below we have reviewed the purpose and performance of each of these.
Website Interface and Usability
The website interface is user friendly for all. Their menu bar is well distributed where you can find the information under the correct categories. All of the terms and conditions are explained through the website, and they can also be downloaded.
Their live chat, and other customer support services are easy to find. Their website is available in seven languages.
Which Forex Pairs Can I Trade?
Foreign Exchange is the most liquid and popular market in the world. With BlackBull Markets you can trade major, minor and exotic forex pairs.
Minor pairs include EUR/JPY, GBP/AUD, and NZD/CAD. USD/SGD, USD/HKD, and EUR/SGD are some of the minor forex pairs.
Other Assets available on BlackBull Markets
BlackBull Markets offers over 300 tradable instruments. Some of the assets you can trade are the following:
- Forex: major, minor, and exotic pairs are available so you can enter the biggest and most popular financial market in the world.
- Index CFDs: buy CFDs and track major indices such as SPX500, GER30, AUS200, US30 Exchange, and more.
- Commodities: you can access precious metals like gold and silver or energy such as natural gas and crude oil.
Account Limits and Liquidity
This forex and CFD broker is an ECN and NDD execution broker. This means that the liquidity provider is directly contacted. This allows for high capacity execution.
They offer three different ECN accounts depending on the knowledge, funds, and level of the trader. The minimum deposit will vary from $200 to $20,000 as well as the commission. All of the accounts offer 500:1 maximum leverage and a minimum lot size of 0.01.
Deposits and Withdrawals
As mentioned above, the minimum deposit will depend on the account. You may deposit in nine currencies like USD, EUR, AUD, GBP, and others. Deposit methods include bank wire transfer, credit cards, e-payments such as Neteller or Skrill.
There is no deposit fee, but if you transfer it will take up from one to three business days to credit into your account. On the other hand, withdrawals are processed within 24 hours maximum, but they include fees depending on the method.
Depending on your base currency withdrawal are flat fees. It is $5.00 for credit card or e-payments, and $20.00 for transfers.
Did you Know that...
BlackBull Markets allows social trading. You can message other traders who are more experienced, watch them, and copy their trades. You can track their performance. However beneficial this may sound, remember you will be making their risk your own.
Opening an Account
If you want to open a live account you will have to fill in some information such as your name, email address, and number. They will ask you for your address, date of birth, and a few questions like your annual income.
Lastly, you will need to provide trading information and proof of identity. After this, a verification code will be sent to your email. Your account must now be verified before you can make your initial deposit.
BlackBull Markets offers three ECN accounts: standard, prime, and institutional. The standard account is commission-free and has a minimum first deposit of $200. For prime members, there is a $6 per lot commission and a $2000 initial deposit.
The institutional account allows spreads and commissions to be customizable. Their first deposit is the highest of all accounts because of their target clients. It is $20,000.
You can also open an Islamic Account if you must comply with Sharia. These swap-free accounts can be opened as either standard or prime. Lastly, high volume and successful traders can open an Active Account. It will have a dedicated manager, VPS hosting services, and advanced reporting.
There is also a demo account that gives traders 100,000 worth of paper money. Here you can practice trades before trying it with your own funds.
BlackBull Markets Customer Support
Customer support on BlackBull Markets is good. They have an online chat that is open 24/5. If they are offline you can request a follow up leaving your name, email and request. You can also contact them via a phone number or email address.
This broker also has social media accounts where you can send messages or comment. They have FaceBook, Twitter, LinkedIn, and YouTube. Customer support is also available at their local offices.
Educational Resources and Additional Perks
This broker has different educational resources for their clients to help them with basic trading knowledge. The Learn to Trade is the name of their educational section which offers a financial overview.
It is divided into a trading video, a trading guide, and a trading glossary. The video lessons will cover candlesticks, templates on your platform, timeframes, drawing lines, and more.
The trading guides are entries written by one of the team members. They explain basics like technical analysis, swaps, support level, bid and ask price, and more. Lastly, the trading glossary will help you familiarize yourself with trading terms.
Additional perks include their YouTube videos that are being uploaded with frequency. They have “trade in sixty seconds”, “whiteboard wizards”, analytics, and more exciting information.
Alternative Forex Brokers
What Makes BlackBull Markets Unique?
BlackBull Markets is unique because of what it offers its clients like social trading, numerous accounts, many deposit methods, and great educational resources. They have great customer support and have an easy to use interface.
BlackBull Markets Pros & Cons
Bottom Line: Is BlackBull Markets a Good Choice to Trade Forex?
BlackBull Markets is a good choice to trade forex if you like that it works as a no dealing desk. They offer major, minor and exotic forex pairs through well-known platforms. Their fees and commissions are not that competitive, but they are not above the average.
As always, your decision will depend on your goals and financial income, but this broker is competitive when it comes to account types.
Frequently Asked Questions
Yes. They are regulated by FSPR and they are members of the FSCL.
Level 22/120 Albert Street, Auckland Central, Auckland 1010, New Zealand.
They were founded in 2014.
They make money off commissions and fees.
Credit card, epayments, and bank wire transfer.
You use the same deposit methods and withdraw directly from the trading platform.
You must find the green registration button, and fill in the required information.
You can use leverage on BlackBull Markets, but there are no specific margin accounts.
Yes. They are registered and your account is segregated.