BlackBull Markets Review 2024
Website: www.blackbull.com
Min. Deposit: US$ 0
Leverage: 1:500
Trading Platforms: MT4, MT5, cTrader, BlackBull Trade, Trading View
Regulation: FMA, FSA
Headquarters: New Zealand
Founded: 2014
Regulatory Licenses:
- Black Bull Group Limited – authorized by FMA (New Zealand) registration no. FSP403326
- BBG Limited - authorized by FSA (Seychelles) license no. SD045
Updated on March 27, 2024
Quick Links
BlackBull Markets stands as a prominent Forex Broker and trading entity, offering a multitude of trading solutions as a financial services provider. With proprietary software, it aggregates robust trading performance alongside competitive pricing. Launched in 2014 in Auckland, New Zealand, BlackBull Markets has woven years of institutional Forex experience into its offerings, focusing on providing valuable resources to retail traders.
As a leading Forex Broker and trading firm, BlackBull Markets delivers extensive trading solutions backed by proprietary software that enhances trading performance through competitive pricing. Since its inception in 2014 from Auckland, New Zealand, it has integrated institutional Forex expertise into its services, tailoring its offerings to meet the needs of retail traders. Moreover, BlackBull Markets emerged as a prime broker, extending its retail trading solutions and ensuring trading facilities are available within major trading centers including London, UK, and Malaysia, thereby ensuring global outreach. The broker offers a variety of conditions and assets for trading, complemented by educational materials and programs for active traders. Additionally, professional services for institutional accounts, money managers, as well as MAM and PAMM accounts are also provided.
BlackBull Markets Pros and Cons ▲
Pros
Founded in New Zealand with global operations
Regulated by the FMA
Boasts global industry awards
No minimum deposit requirement
Offers tight, low spreads
Provides options for both professional and retail trading
Cons
Relatively limited trading tools
International offering available through an SVG entity
Document verification conditions may vary per entity rules
Our investigation reveals that BlackBull Markets is a highly esteemed broker, earning accolades for its exceptional trading conditions and customer service. The broker has received numerous awards, attesting to its success within the industry for its innovative technology. BlackBull Markets has evolved from focusing on its local market to becoming a recognized global broker. It is distinguished for providing quality trading conditions, being a fully regulated broker, offering high leverage, a $0 deposit requirement, some of the lowest spreads based on our extensive research, and high-quality education and research resources.
Is BlackBull Markets safe or a scam? ▲
BlackBull Markets is not a scam, offering low-risk Forex and CFD trading. The Black Bull Group Limited, trading as BlackBull Markets, is a company registered and incorporated in New Zealand, also regulated by the FMA. This regulatory oversight is crucial as it ensures the broker has been vetted, complies with necessary laws and operational models, hence deemed a safe investment firm. However, international trading is facilitated via an offshore entity, which is a point of consideration.
Our Ranked BlackBull Markets Trust Score is 4.0 out of 5, reflecting years of dependable service, a reliable license from the FMA in New Zealand, although international trading is conducted through an offshore entity.
Is BlackBull Markets regulated?
Registration under the NZ legislation signifies BlackBull Markets' commitment to reliability and the legitimacy of its services, meaning it is a fully legitimate broker adhering to regulatory standards. The broker implements money protection rules and policies, ensuring a qualified service and trading environment. However, for countries unable to register with the FMA, an account can be opened under BlackBull International entity in SVG. Despite recommending caution with offshore brokers, BlackBull's FMA license denotes reliability, although document requirements for account approval may vary due to differing standards imposed by the FMA.
BlackBull Review Summary in 12 Points
Headquarters: New Zealand
Regulation and License: FMA, FSA
Platforms: MT4, MT5, TradingView, Social trading with Myfxbook and ZuluTrade
Instruments: Forex, Index and Single Stock, Crypto CFDs, Commodities, Precious Metals, and Energy
Costs: 0.9 pips
Demo Account: Available
Minimum deposit: $0
Base currencies: Various base currencies offered
Education: Comprehensive Forex Education and tools provided free
Customer Support: Not available 24/7
Overall BlackBull Ranking
According to our expert analysis and compared to over 1000 brokers, BlackBull Markets is esteemed for its reliable offerings and favorable trading conditions. Key highlights include low fees, high leverage accessible to all traders, and excellent platform availability. The Overall BlackBull Ranking is 4.5 out of 5.
BlackBull Alternative Brokers
While BlackBull Markets primarily focuses on Forex and CFDs, lacking in Cryptocurrency trading and with the international entity offering differing conditions, it's beneficial to consider alternative brokers. In view of spreads, high leverage, and educational offerings that are commendable at BlackBull Markets, here are our selected Alternative Brokers:
eToro – Ideal for CopyTrading and Cryptocurrency Trading
Dukascopy – Excellent for Shares, Futures Trading
InteractiveBrokers – Recommended for Real Stocks Trading
BlackBull Markets offers significant leverage opportunities, a key highlight within this comprehensive review. Traders, whether retail or professional, can access high leverage levels up to 1:500. This offering is consistent for international traders through the Seychelles entity, presenting a unified leverage strategy across its client base. The ability to utilize such high leverage is particularly noteworthy, considering the global trend towards restricting leverage levels. The New Zealand authority's provision for high maximum leverage ratios emphasizes the importance of using this tool wisely to manage trading risks effectively.
BlackBull Markets has developed three distinct account types, all utilizing ECN execution to provide competitive trading conditions without the intervention of a dealing desk. The diversity in account offerings reflects BlackBull Markets' commitment to catering to traders of various sizes, portfolios, and needs. Additionally, the broker offers specialized access for institutional trading and professionals, with conditions tailored upon request. For active traders, BlackBull Markets extends additional services such as VPS hosting, advanced reporting, and rebate programs to enhance trading capabilities.
Pros
Diverse account offerings catering to a wide range of traders
Tailored solutions for institutional trading and professionals
Cons
None noted
BlackBull Markets boasts low trading costs, incorporating both spread and commission charges depending on the instrument. Traders should also consider additional costs such as rollover or swaps, and any non-trading fees, like deposit fees. Based on an extensive comparison to over 1000 other brokers, BlackBull Markets' fees receive a low ranking with an overall score of 4.5 out of 5. This assessment underlines the broker's competitive edge, with spreads being among the lowest in the industry. However, it's important to note that fees may vary depending on the specific entity offering.
Pros
Competitive trading costs
Low fees in comparison to industry standards
Cons
Fees may vary by entity
At BlackBull Markets, traders can select the most suitable cost structure for their trading style. For beginners or regular-size traders, the ECN Standard account includes all costs within the spread, starting from 0.8 pips. In contrast, active or professional traders may prefer the ECN Prime account, which offers raw spreads from 0.1 pips and a commission charge of $6 per trade. BlackBull Markets' spreads are competitively low, with an overall rating of 5.0 out of 5, based on testing and comparison with other brokers. The broker's forex spread for EURUSD is notably lower than the industry average, and the spreads for other instruments also present a very attractive proposition, especially when combined with the availability of high leverage.
BlackBull Markets offers a broad exposure to various global markets, featuring over 64 currency pairs, forex, indices, metals, commodities, energies, and a limited range of crypto CFDs. This diversity allows traders to effectively diversify their portfolios, leveraging BlackBull Markets' competitive cost strategy. However, it's noteworthy that their cryptocurrency trading options are relatively narrow, primarily focusing on CFDs. Given the comprehensive range of trading instruments, especially for Forex and CFDs, BlackBull Markets earns a strong instrument score of 4.2 out of 5.
As a regulated entity, BlackBull Markets provides a secure array of funding solutions, ensuring client funds are managed with utmost trust and safety in top-tier segregated bank accounts. The broker's approach to funding methods is highly commendable, receiving an impressive rating of 4.5 out of 5. No minimum deposit is required for the ECN Standard account, aligning BlackBull Markets with the more accessible spectrum of forex brokers. In contrast, the ECN Prime account necessitates a $2,000 initial deposit. Notably, BlackBull Markets stands out for not imposing deposit fees, though withdrawals incur a charge of 5 units of the base currency. Withdrawal processes are swift, typically completed within 1-2 business days.
Pros
No minimum deposit for ECN Standard account
Wide range of funding methods including credit cards, bank wires, ewallets, and crypto
Cons
Withdrawal fees apply
Limited cryptocurrency trading options
BlackBull Markets provides access to the popular MetaTrader4 and MetaTrader5 platforms, as well as direct trading on TradingView. This selection caters well to both novice and seasoned traders, supported by a robust suite of research tools and social trading capabilities through ZuluTrade and Myfxbook. The inclusion of TradingView recently marks a significant enhancement in their offering. Rated excellently at 5.0 out of 5, BlackBull Markets' platform offering is distinguished by its comprehensive features, including mobile trading options and advanced analytical tools.
Pros
Availability of leading platforms MT4, MT5, and TradingView
Support for social trading
Cons
Web trading slightly limited compared to desktop versions
BlackBull Markets prioritizes customer satisfaction through its comprehensive support system. Accessible via live chat, international phone lines, and email, the support team is well-equipped to handle various inquiries efficiently. This commitment to customer service is reflected in an excellent rating of 4.5 out of 5, based on the promptness and knowledgeability of their responses.
BlackBull Markets enriches its trading environment with an array of educational resources tailored for traders at all levels. This includes trading videos, guides, a glossary, and a trading blog that offers market insights and analysis. The broker's cooperation with leading data providers enhances the quality of its research tools, contributing to an education rating of 4.5 out of 5.
In conclusion, BlackBull Markets presents a well-rounded offering to the global trading community. Its regulated status, combined with advanced trading capabilities and competitive conditions, positions it as a strong contender in the forex broker landscape. Supporting a variety of trading styles and strategies, BlackBull Markets is particularly suited for traders looking for high leverage options, social and copy trading, as well as algorithmic trading. With its comprehensive platform options, including MT4, MT5, and TradingView, alongside a vast range of market instruments and educational resources, BlackBull Markets is highly recommended for both beginner and professional traders.
Based on our extensive review and comparison against over 1000 brokers, BlackBull Markets stands out for its:
Support for beginning and professional traders
Preference for MT4, MT5, and TradingView platforms
Capabilities in high leverage strategies and trading
Offering for EAs, copy trading, and algorithmic or API trading
Suitability for currency trading and CFD trading
Flexibility in accommodating a variety of trading strategies, including scalping and hedging
