BlackBull Markets Review
BlackBull Markets were founded in 2014 by a team of experienced professionals with a background in forex, fintech development and data security. They have rapidly become one of the leading online trading brokers specialising in Forex, Commodities, Indices, Metals, Energies & CFDs.
BlackBull Markets are based out of Auckland, New Zealand, which is home to a rapidly growing Fintech industry that is backed by the government. The ever-increasing popularity of BlackBull Markets has seen them expand their offices to New York, Kuala Lumpur, Jakarta and London. They take great pride in operating above board with the upmost honesty and integrity.
They are a true Electronic Communication Network (ECN) broker with Straight Through Processing (STP) and No-Dealing Desk (NDD), so no conflict of interest. Global partners include prime liquidity providers (LPs) for deep pool liquidity and huge depth of market. This gives traders across the globe institutional grade trading conditions with fast execution speeds and tight spreads from just 0.1 pips, backed by excellent 24/6 customer service and support.
Liquidity comes from multiple top tier international banks such as Goldman Sachs, Credit Suisse, JP Morgan, Merrill Lynch, RBS, SMBC, Commerzbank, Bank of America and BNP Paribas.
The premium trading tools and services they provide have seen them win multiple awards for technology and innovation. They are one of the fastest growing companies across the technology ecosystem, winning the highly commendable Deloitte Fast 50 award for the fastest growing exporter for Auckland, New Zealand, in 2018. They achieved this through the development of multiple fintech solutions including their proprietary in-house trade aggregation software.
In addition to institutional grade products and innovative technologies, clients get personal account managers, daily market updates & analysis, educational resources, trading tools, social trading, VPS and more. The depth of market allows up to 100 lot trades per click at 1:500 leverage with the proprietary trade-order aggregation system implemented for decreasing spreads whilst increasing execution speeds.
They have three dedicated state of the art Equinix servers located as close as physically possible to the three major exchanges for instantaneous market access. This gives the lowest achievable latency for traders located all around the world. There is an ECN Bridge Equinix NY4 located in New York, an ECN Bridge Equinix LD4 in London and ECN Bridge Equinix TY3 in Tokyo. There are a further two Equinix servers in the case that backups are needed.
Pros / Cons
- Commission free accounts
- FIX API trading
- Electronic Communication Network (ECN)
- Straight Through Processing (STP)
- No-Dealing Desk (NDD)
- Prime liquidity providers
- Global Equinix servers
- No US clients
- No fixed spread accounts
- Limited educational material
- Limited trading tools
BlackBull Markets Regulation
The BlackBull Markets Group is registered with the New Zealand Financial Services Provider Registry (FSPR) and are a member of the New Zealand Financial Services Complaints Limited (FSCL) dispute resolution scheme. The purpose of the FSPR is to increase transparency, provide company information and help to meet AML/CFT international obligations. All companies who are registered with the FSPR must also be a member of an independent dispute resolution scheme. This is to ensure complaints are dealt with in an impartial and independent manner.
In addition to this, they have a strict Anti-Money Laundering (AML) & Counter Financing of Terrorism (CFT) policies. This are to ensure that business practises are run ethically and above board. They are constantly striving to uphold the highest levels of conduct and operational standards with a well-constructed supervisory framework in place to actively protect traders.
Client funds are held securely in segregated accounts for quick processing and to ensure that they are not used for any other purpose, thus giving clients peace of mind. They use ANZ Bank as their banking partner who are one of the leading banks in the Australasia region and also have a global presence.
BlackBull Markets established relationships with ANZ Bank and the FSPR help to ensure that they maintain the highest level of security for clients. Company files and audits must be submitted every year with the majority of this information publicly available and falling under legal body oversight.
BlackBull Markets Countries
BlackBull Markets accept clients from across the globe apart from some UN sanctioned nations (e.g. North Korea), the USA, Russia, Spain, and only professional traders from New Zealand.
BlackBull Markets Trading Platforms
BlackBull Markets use the popular and highly acclaimed trading platform MetaTrader 4 (MT4) by MetaQuotes. Virtual Private Servers (VPS) and FIX API Trading are also available.
MT4 is the platform of choice for many traders and levels of expertise. It is known for its user-friendly interface, quick learning curve and highly customisable features to personalise your trading experience.
MT4 features include real-time market quotes, 85 pre-installed technical indicators, tools for chart analysis, multiple chart timeframes, multiple order types, trading strategy templates, automated trading and more.
The BlackBull Markets MT4 is connected to the NY4 Equinix server that is located on Wall Street and can execute trades from 2-5 milliseconds. This server allows you to directly trade the markets with a vast array of liquidity providers supplying the best bid/ask prices available, with less slippage and tight spreads.
MT4 is freely available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). The mobile option is useful if you need convenient full accessibility to your account from anywhere in the world. You can manage orders, enter/exit positions and more, all whilst on the go.
FIX API Trading
BlackBull Markets offer a FIX API option for clients who wish to use their own FIX application. This allows you to bypass the MT4 application and trade with Direct Market Access (DMA), connecting directly to the ECN grid. DMA can increase transaction speeds and reduce latency. FIX API trading solutions are available to institutional account clients.
BlackBull Markets Trading Tools
Whilst they offer the MT4 platform which has a vast collection of inbuilt tools, BlackBull Markets do not provide many other in-house stand-alone trading tools. Instead, they focus on offering additional services via partnerships with free access available to qualifying BlackBull Markets clients.
Virtual Private Servers
BlackBull Markets can provide you with Virtual Private Server (VPS) hosting connected by fibre optic cable to the Equinix Servers, so that you can keep the MT4 platform running remotely without needing your computer switched on. A VPS can be customised to your requirements and reduce latency by up to 30%. They are often used by traders who cannot afford any downtime (99.99% uptime) or who need to run the trading platform 24/7, usually when running an expert advisor (EA).
BlackBull Markets clients can qualify for a free VPS is they have a prime account, minimum $2,000 deposit and maintain 20 lots of trading volume per month.
MAM / PAMM
BlackBull Markets offer MAM (Multi-Account Manager) and PAMM (Percentage Allocation Management Module) solutions for money managers who need to execute bulk orders from one master account to multiple other accounts.
The auto trade function of MAM software is fully customisable to meet your trading requirements and is designed to run through the MT4 platform. The PAMM system is also customisable with a central liquidity pool to allocate profits and a high-water mark clause so that there are no management fees if the value decreases below the initial investment.
SwipeStox is an online social trading platform where a community of traders discuss everything trading related in order to help improve their knowledge and skills. You can copy signals from fellow traders for a compensation or you can provide your own signals. Via the intuitive user interface, you can access and then accept or deny any trade in real time. BlackBull Markets clients can sign up to SwipeStox for free and link their trading account to their SwipeStox account.
PsyQuation can analyse your trading, advising you on weak areas and ways in which they can be improved. You can set goals, control your trading via the dashboard, gain useful insights and set notifications. Traders can create a PsyQuation account and link it with their BlackBull Markets MT4 account.
There is an economic calendar widget on the BlackBull Markets website powered by MetaQuotes. This displays upcoming and historical news events that can be filtered by date. The calendar shows the relevant currency, news event and forecasts of releases.
BlackBull Markets Education
BlackBull Markets have a tutorial video section that includes a few basic videos covering topics such as how to use your trading account and how to conduct chart analysis.
BlackBull Markets Trading Instruments
BlackBull Markets offer access to trade a range of markets including 64+ major, minor and exotic currency pairs, indices from major markets, precious metals such as gold and silver, and commodities including energy, gas, and oil.
The foreign exchange market is the largest financial market in the world by daily trading volume and by value, averaging $5 trillion in exchanges per day. BlackBull Markets offer 64+ major, minor & exotic currency pairs available to trade 24/5, with flexible leverage of up to 1:500, spreads from 0.1 pips and institutional trading conditions.
Traders can diversify their portfolio and access global equity markets through a range of Index CFDs including AUS200, GER30, US30, SPX500, UK100 and JPN225.
Indices are a market wide value of specified markets based on the relative value of companies within the market. They are traded as Contracts for Difference (CFDs) and commonly grouped together by similar industries.
BlackBull Markets do not charge a commission on CFDs and there are no additional mark-ups or re-quotes. They can be traded with ultra-low latency and straight-through processing on the proprietary trading technology provided.
Traders have access to diversify their portfolio through a variety of commodities including energy, gas and oil. Leverage of up to 1:500 is available. Commodities are primary resources that fall into hard (e.g. gold, silver and crude oil) or soft (e.g. sugar, cocoa and livestock) categories. Commodities can be affected by political and environmental events.
Traders can trade precious metals such as gold and silver which can help diversify a trading portfolio and are often seen as a safe-haven to some. Leverage is flexible as are the minimum trade sizes.
BlackBull Markets offer energies such as natural gas and oil with a low-cost pricing model and flexible leverage.
BlackBull Markets Trading Accounts & Fees
BlackBull Markets have a set of flexible trading accounts to suit individual trader requirements. All accounts have a minimum lot size of 0.01, leverage of up to 1:500 and acess to all trading instruments. Demo accounts are available if you would like to test the different trading platforms and conditions before opening a real account.
The accounts provide deep liquidity from multiple banks with raw interbank spreads that start from just 0 pips. They are all compatible with the MT4 platform and have convenient methods of deposit and withdrawal. All trading strategies are welcome including scalping, hedging and automated trading.
High volume traders may be eligible for rebates and a more customised offering through the Active Trader Account. Islamic friendly accounts that comply with Sharia law are available.
The standard account requires a minimum deposit of $200 and runs on the Equinix NY4 server. Spreads start from 0.8 pips and the account is commission free.
The prime account requires a minimum deposit of $2,000 and runs on the Equinix NY4/LD4/TY3 servers. Spreads start from 0.1 pips and there is a competitive $3 commission charge.
The institutional account requires a minimum deposit of $20,000 and has customisable server options. Spreads start from just 0.0 pips and commission is negotiable. The larger your trading volume, the better commission deal you will be able to negotiate.
BlackBull Markets Customer Service
Customer support is available globally 24/6 via online chat, telephone and email. BlackBull Markets aim for a maximum 24-hour response time. With global offices, they have representatives in each major market to offer support and answers to general and technical questions. Clients also get personal account managers that are on hand to assist when need be.
BlackBull Markets Deposit & Withdrawal
There is a choice of account funding and withdrawal options to suit each individual, including bank wire, credit/debit card and online payment processors such as Skrill or Neteller. Some methods will be faster and more convenient than others.
Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear. Accounts can be opened in AUD, USD, EUR, GBP, CHF, JPY, NZD, CAD, SGD, HKD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
BlackBull Markets Account Opening
Signing up for an account at BlackBull Markets is a quick and easy online process. You simply complete the short form on the website and verify your email. You then need to upload your proof of identity and address documents for KYC purposes. Once approved, you can fund your account and start trading.
BlackBull Markets Conclusion
BlackBull Markets are relatively new to the industry compared to some other online brokers although they are expanding at a rapid pace, picking up multiple awards along the way. There is a great focus towards delivering exceptional trading conditions with tight spreads, fast execution speeds and competitive fees. Trading tools and educational material is limited although one would expect them to add to this as they expand their operations further.
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.