BlackBull Markets Review
Founded in 2014, BlackBull Markets are an award-winning online broker based in New Zealand who offer institutional grade trading conditions to traders across the globe, specialising in Forex and CFDs. They provide clients with user-friendly trading platforms, tight spreads, low fees, rapid trade execution speeds and excellent customer support.
Pros / Cons
- User-friendly & powerful trading platforms
- Good selection of trading instruments
- Various account types & funding options
- Commission free accounts
- Tight spreads & fast execution speeds
- Electronic Communication Network (ECN)
- Straight Through Processing (STP)
- No-Dealing Desk (NDD) & No re-quotes
- Prime liquidity providers
- Global Equinix servers
- FIX API trading
- Swap-free Islamic accounts
- Excellent customer support
- No US clients
- No fixed spread accounts
In this detailed BlackBull Markets review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
BlackBull Markets Overview
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.
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.
Black Bull Group Limited is a registered Financial Services Provider (FSP403326) and holds a Derivative Issuer Licence issued by the Financial Markets Authority. The Financial Markets Authority is the government agency responsible for regulation of financial markets in New Zealand.
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.
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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. Some BlackBull Markets broker features and products mentioned within this BlackBull Markets review may not be available to traders from specific countries due to legal restrictions.
BlackBull Markets 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. The broker also provides some useful trading guides and several market review articles each week under the market reviews section.
BlackBull Markets 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. Clients can trade from market open on Monday to market close on Friday, 24 hours a day 5 days a week. The brokers specific opening hours are different across the world due to time zone differences.
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 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.
As broker fees can vary and change, there may be additional fees that are not listed in this BlackBull Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a BlackBull Markets broker account for online trading.
BlackBull Markets Support
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, fasapay 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 FAQ
What is the BlackBull Markets minimum deposit?
BlackBull Markets require a minimum deposit to open a trading account. The minimum deposit amount depends on the type of account the you want to open.
- Standard Account Minimum Deposit: $200.00
- Prime Account Minimum Deposit: $2,000.00
- Institutional Account Minimum Deposit: $20,000.00
After you have made this initial deposit, your trading account balance can go below the minimum deposit amount without there being any penalties and the minimum deposit requirement is removed for any future deposits.
How do I deposit money into BlackBull Markets?
BlackBull Markets have made depositing into your trading account as easy as possible. You can choose from multiple deposit methods including bank wire transfers, credit/debit cards and e-Wallets such as Skrill and Neteller. Whatever your preference, there is a deposit option to suit everyone.
In order to deposit funds into your BlackBull Markets account, you can simply login to your BlackBull Client Portal where you will find multiple funding methods to choose from. Set your amount and desired method, then submit.
Bank wire transfers can take a few business days to clear whereas online payment processors can be instant, allowing you to manage your account balance in real time.
The broker accepts deposits in the following currencies: USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY and ZAR. Keep in mind that the brokers Skrill account is in USD, therefore you may incur exchange rate fees if using a different currency. The currencies available through Neteller are: USD, AUD, EUR, GBP, CAD, JPY and SGD.
What are BlackBull Markets deposit fees?
Unlike some other brokers, BlackBull Markets do not charge any deposit fees. The amount of money that you request to deposit is the amount that you will see in your trading account.
How do I withdraw money from BlackBull Markets?
You can withdraw funds from your trading account via the BlackBull Client Portal. In the Client Portal, under ‘Funding’, click the ‘Withdraw Funds’ button to begin submitting a withdrawal request.
It is important to be aware that during the withdrawal process, if you are using Credit Card, Skrill, FasaPay, Neteller, or union pay, you will only be able to withdraw up to the amount that you have originally deposited via that method. This is due to BlackBull Markets’ stringent AML Policies. Any additional profits must be sent via Bank Wire to a Bank Account in your own name. As with most brokers, they do not accept third-party deposits or withdrawals.
Credit card and bank transfer withdrawals can take 3-5 business days to clear whereas e-Wallets can be deposited into your desired account within 24 hours.
What are BlackBull Markets withdrawal fees?
The withdrawal fee depends on the withdrawal method being used. Credit card, Neteller, Skrill and international bank transfer have a withdrawal fee which is 5.00 of the account base currency. Currency conversion will be at the exchange rate (+2% conversion fee) at the time of withdrawal approval.
What is BlackBull Markets commission fee?
The BlackBull Markets commission fee depends on the trading account type that you have with them. You can choose between a commission free account where the commission is included within the spread or an account with tighter spreads that has a small commission fee added to trades.
- ECN Standard Account: No commission
- ECN Prime Account: Commission is $3.00 per lot ($6.00 per round turn)
- ECN Institutional Account: Commission is negotiable
Are there any BlackBull Markets inactivity fees?
BlackBull Markets do not charge any account inactivity fees. Thus, they will not deduct funds from your account if you do not access it for a sustained period of time.
What are BlackBull Markets account types?
BlackBull Markets have 3 account types to choose from. This is a great way to ensure that they can cater to the differing needs of individual clients. The BlackBull account types are as follows:
- ECN Standard Account: Minimum Deposit $200, Spreads From 0.8, No Commission
- ECN Prime Account: Minimum Deposit $2,000, Spreads From 0.1, $6 Commission
- ECN Institutional Account: Minimum Deposit $20,000, Spreads From 0, Negotiable Commission
Is there a BlackBull Markets demo account?
Yes, there is the option of opening a BlackBull Markets demo account. This can be a great way to practice trading online without any risk involved. When you open a demo account you can choose the type of account (Standard, Prime or Institutional), currency, leverage and starting balance.
What are BlackBull Markets spreads?
When you trade certain instrument online, you will need to pay the broker something called the spread. This is the difference between the bid and ask prices that they provide. Generally speaking, the lower the spreads, the better price quotes you can get. BlackBull Markets have very low spreads, starting from just 0 pips.
- ECN Standard Account: Spreads start from 0.9 pips
- ECN Prime Account: Spreads start from 0.2 pips
- ECN Institutional Account: Spreads start from 0.0 pips
In order for BlackBull to offer the lowest spreads to clients, they use a number of major liquidity providers including the Bank of America, Goldman Sachs, Citibank, Barclays, RBS, Credit Suisse, Commerzbank, ABN AMRO and BNP Paribas.
When combined with the brokers aggregation system, the ECN model ensures that liquidity providers directly compete with each other to help provide clients with the best trading experience and consistently lower spreads.
What is BlackBull Markets leverage?
BlackBull Markets have Leverage Tiers which depend on your account equity. These tiers are as follows:
- Equity 0 to 50000: 1:500
- Equity 50001 to 100000: 1:200
- Equity 100001 to 999999: 1:100
Trading with leverage allows you to open a position size greater than you would have been able to without it. Whilst this can increase profit potential, it can also greatly increase your overall risk exposure. Therefore, it is of paramount importance to have a clear understanding of leverage before trading leveraged positions.
What are BlackBull Markets margin & stop out levels?
When your margin drops below 70%, the broker will issue you a margin call notice to top up your funds. Once your margin drops below 50% your trades will automatically be closed out.
Do BlackBull Markets allow hedging, scalping & expert advisors?
Yes, BlackBull Markets state that all trading styles are welcome, including scalping, hedging and expert advisors (EAs).
Is there a BlackBull Markets Islamic account?
Yes, BlackBull Markets offers Islamic Accounts that comply with Sharia law. These are accounts with no swap rates or rollover costs on overnight positions. If you are signing up for an account you can select an Islamic Account when you chose your Account type. If you open a Live Account in Malaysia or Indonesia, your account will automatically be an Islamic compliant Account.
What are BlackBull Markets trading instruments?
BlackBull Markets have a generous selection of 80+ trading instruments with institutional grade pricing. Options include 64+ currency pairs, indices from major markets, precious metals such as gold and silver, and commodities including energy, gas, and oil.
How do I open a BlackBull Markets live account?
You can open a BlackBull Markets live account by completing a short and secure application form on the brokers website which is accessible by clicking “sign-up” from the menu. Once you have completed the application you will need to click the verify link in an email sent from the broker. Your application will then be reviewed and approved by the accounts team. After it has been confirmed, you can fund your account using any of the free deposit options and then start trading online using the provided platforms.
How do I verify my BlackBull Markets account?
When you apply for an individual trading account with BlackBull Markets, you will need to provide some documents for verification purposes. This is a standard part of any brokers KYC and AML procedures. Accepted documents include passports, drivers license, utility bill and bank statements.
What is BlackBull Markets trading platform?
The BlackBull Markets MetaTrader 4 platform is the primary trading platform. The broker has made this freely available for clients on Windows, Mac, Android, and iOS.
They also offer access to the WebTrader Platform, so that clients can access the markets wherever they have an internet connection.
Where can I download BlackBull Markets platform?
You can get free instant access the BlackBull Markets MT4 platform directly from the brokers website or alternatively, you can download the MT4 trading app on your iOS or Android mobile device from the relevant app store.
Where is BlackBull Markets located?
BlackBull Markets are headquartered in Auckland, New Zealand. However, they serve a global clientele, with the exception of a few countries.
Is BlackBull Markets regulated?
Yes, as a business and company offering Financial Products in New Zealand, BlackBull Markets are registered with the Financial Services Provider Register (FSPR) with number: FSP403326.
Regulations are put in place to protect investors and can help to give peace of mind that the broker is following rules and regulations. Thus, we would always prefer to trade with a regulated broker such as BlackBull Markets.
What countries do BlackBull Markets accept?
BlackBull Markets cannot accept clients from OFAC sanctioned countries, the United States of America (USA), Spain, or any other country or location deemed too risky by their compliance team.
Is BlackBull Markets a scam?
No, BlackBull Markets is not a scam. They are a regulated broker with some of the best trading conditions that we have seen from any online brokerage firm.
How can I contact BlackBull Markets support?
You can contact the BlackBull Markets support team via email, telephone or the live chat button on the brokers website. They are available 24/5 and we found them to be very helpful in their responses to a variety of different questions.
BlackBull Markets Summary
BlackBull Markets 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.
BlackBull Markets provide all clients with an institutional level of treatment, regardless of their experience or investment size. They are constantly furthering and bettering their brokerage service to the benefit of their clients.
The BlackBull Markets platforms and technologies are amongst the best in the industry and in place to make sure that clients can retain and grow their competitive edge in the global markets.
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.