Founded in 2014, BlackBull Markets is an award-winning true ECN brokerage firm that is based in Auckland, New Zealand, with offices across the globe. They are regulated in various jurisdictions and aim to become a leading online broker. The broker provides clients in over 180 countries with secure access to over 300 financial instruments across different asset classes, including equities, forex, commodities, CFDs, and more.
BlackBull Markets offers intuitive trading platforms, such as the MT4 and MT5 platforms, which are available in desktop, web, and mobile versions. They also make available a good selection of essential trading tools, learning resources, and the services of a knowledgeable client support team. Their clients enjoy institutional-grade trading conditions, such as low spreads from 0.0 pips, lightning-fast execution speeds, zero deposit fees, multiple account types, low trading fees, and more. The minimum deposit required to start trading is $200.
While the broker’s investment portfolio of just about 300 financial instruments may not be considered generous, the broker has various exciting features. They offer advanced trading platforms along with various useful trading tools. Their account opening process is straightforward. There are various trading account options, so traders can choose the account types that best suit their trading strategies. A responsive client support team is available 24/6 to assist traders.
In addition to the above exciting trading conditions, traders also enjoy low trading fees and zero commissions on the ECN standard account. Various learning resources — trading guides, training videos, glossaries, articles, and more — are provided to help traders make knowledgeable trading decisions. A demo account option is available to help acquaint themselves with the broker’s trading platforms before opening a live trading account type; the account comes preloaded with virtual funds for practice purposes. The broker does not charge an inactivity fee on dormant accounts.
The broker offers a selection of over 300 investment products, which comprises 64+ currency pairs, indices from major markets, precious metals such as gold and silver, and commodities including energy, gas, and oil. Interestingly, these trading products are available on all the broker’s trading platforms.
However, the broker does not offer shares and cryptocurrencies. This is somewhat disappointing, considering the massive attention that cryptocurrencies are gaining across the globe in recent times. It would be great if the broker added shares and cryptocurrencies to its product offerings. Traders can choose from the available financial instruments and get started with a minimum deposit of $200.
BlackBull Markets Instruments Summary
| Instruments | BlackBull Markets |
|---|---|
| Forex | ✓ |
| Stocks | x |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | x |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
If you are a seasoned trader, you would be familiar with some common trading fees that retail brokers charge, such as spreads, commissions, and overnight financing rates. While commissions are small transaction fees charged by brokers, spreads are the difference between an instrument’s buy and sell price.
At BlackBull Markets, there are zero commission fees on the ECN Standard account with a marked up spread starting from 0.8 pips, while the ECN Prime account has a commission fee of $6 lot per 100k traded and spreads starting at just 0.1 pips. The commission fees on the Prime can be expressed in three scenarios:
- For a 1 Standard Lot trade (100,000 units), traders will pay a $6.0 commission to open and close a trading position;
- For a 1 Mini Lot trade (10,000 units), traders will pay a $0.6 commission to open and close a position; and
- For a 1 Micro Lot trade (1,000 units), traders will pay a $0.06 commission to open and close the position.
Although a commission fee of $7 per round turn on the Prime account is similar to the commission fees of their major competitors, it is not the lowest commission fees that are obtainable in the industry.
It is worth mentioning that the broker provides high-volume traders that deposit at least $20,000 with an ECN Institutional account, which allows them to negotiate commission rates with the broker on a case-by-case basis.
| Fee | ECN Standard Account | ECN Prime Account | ECN Institutional Account |
|---|---|---|---|
| Commission (per standard lot per side) | $0 | $3.0 | Negotiable |
| Spreads from | 0.8 | 0.1 | 0.0 |
Deposit and Withdrawal Fees
All traders at BlackBull Markets enjoy zero deposit fees. While the broker does not charge withdrawal fees, transfer fees may be applied by the remitting bank(s) or payment system providers.
Inactivity Fees
The broker does not charge an inactivity fee on dormant accounts. This is impressive as many brokers charge exorbitant fees for maintaining inactive accounts.
The broker offers a good choice of intuitive trading platforms. You can trade with the social trading platforms or with the extensive MT4 and MT5 trading platforms. All the available trading platforms allow users to trade all the available financial assets.
MetaTrader 4
The MT4 is an award-winning platform that was launched in 2005 and has since grown to become one of the choicest trading platforms among forex and CFD traders. The platform is built with military-grade software security for an enhanced trading experience. BlackBull Markets provide the MT4 to ensure that traders enjoy a seamless trading experience.
The MT4 trading platform has an intuitive user interface, making it the best choice for all levels of traders. The platform is replete with essential trading features and functionalities, such as one-click trading, drawing tools, expert advisors, interactive charts, technical indicators, and more. Thanks to MT4’s fully customizable design, traders can configure the platform to suit their trading needs.
At BlackBull Markets, the MT4 is connected to the NY4 Equinix server located on Wall Street in New York. The Equinix server allows you to execute trades as fast as 2-5 milliseconds, using a range of Prime Liquidity providers to give you access to the best bid/ask prices available. The MT4 trading platform is available on multiple platforms: Windows, Mac, iPhone, Android, iPad/Tablet.
The MT4 WebTrader allows clients to access their MetaTrader 4 account through any operating system (Windows, Linux, Mac). It offers all the benefits of the MT4 desktop trading platform, and it is compatible with modern web browsers like Google Chrome, Mozilla Firefox, and Safari. Traders can use the MT4 WebTrader to trade from any device without needing to download additional software.
MT4 Platform features:
- Allows one-click trading
- Available on desktop, web, and mobile platforms
- Multiple order types
- Market Watch Window
- Navigator Window
- Pre-installed indicators
- Analysis tools
- Multiple chart setups
- Trade automation using expert advisors
- Order execution capabilities
MetaTrader 5
The MT5 is a next-generation trading platform that was launched in 2010 by MetaQuotes. It is an advanced trading platform that is designed to offer seamless access to different financial markets. The platform is replete with helpful trading tools, including nine chart types, expert advisors, multiple timeframes, and more. The platform is designed to give users an edge in the market with its suite of extensive capabilities, such as faster processing times, the ability to hedge positions, advanced pending order functionality, and more tools and indicators.
The MT5 trading platform is available as a desktop application for Windows and Mac computers, WebTrader, and a mobile app that is designed for smartphone devices running on Android and iOS.
MT5 Platform features:
- 21 timeframes
- Scalping allowed
- Over 30 built-in technical indicators
- Integrated economic calendar
- Optimized trade processing speeds
- Ability to hedge your trade positions
- Advanced pending order functionality
- Trade automation using expert advisors
- Available for desktop, web, and mobile platforms
ZuluTrade
ZuluTrade is an industry-leading, peer-to-peer, social trading platform that copies the trading strategies of expert traders. It is reputed for being the most popular auto trading platform available today. It allows traders to seamlessly replicate the trades of successful traders in their accounts. It features a database of traders from which you can choose the best for your individual goals and investing style.
Myfxbook
Myfxbook is a social trading platform that allows traders to share, analyze, track, and compare their trading activities. It features an intuitive user interface, which makes it very easy to use by traders. While it is mainly used to set up auto-trading to follow traders that you have selected, it can also be used to establish yourself as the main trader in an auto trading network.
At BlackBull Markets, the Myfxbook system is fully integrated with the popular MT4 trading platform, making it easier for clients to link the system to their trading platform and customize it to suit their trading and analysis preferences.
BlackBull Markets Platforms Summary
| Platform | BlackBull Markets |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | ✓ |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other (ZuluTrade, MyFxBook, VPS, FIX API) | ✓ |
Tools
VPS
This is an important trading tool that is used for enhancing and customizing clients’ trading experience. The VPS service that is available at BlackBull Markets is provided by BeeksFX, a provider dedicated to hosting finance servers. It is compatible with the MT$ trading platform and offers many benefits, including reduced slippage, enhanced security, automation of data backups, and more. The VPS servers are located in New York, London, and Japan, close to the relevant exchanges to maximize execution speed and reliability. The VPS service is only available on the BlackBull Markets Prime account, and as such, traders are required to deposit a minimum amount of $2,000.
FIX API
In a bid to ensure that traders get the most out of their trades, the broker makes available the FIX API tool. While the MT4 serves as the FIX or coding protocol for placing orders live on the market, the FIX API is provided for traders who wish to use their own FIX application. It offers direct market access (DMA), allowing traders to connect directly to the broker’s ECN network with faster speeds and lower latency.
Trading Academy
The broker’s trading academy is available as an “Education” section at the top of the broker’s website. It contains various educational resources, such as learning articles, trading guides, tutorial videos, and a glossary that displays various trading terms and their detailed explanations. The tutorial videos offer visual guides on how to trade with the broker.
Economic Calendar
BlackBull Markets provides traders with an economic calendar. It is an important trading tool that shows future market events’ schedule and their expected impacts on the financial markets. With the economic calendar, traders can know what moves the market and when the market moves. So they can plan their trading moves based on upcoming economic releases and market events from around the world.
BlackBull Markets Blog
The broker’s blog is replete with several trading articles on market reviews and expert analysis. The blog section also contains some news articles to keep traders up-to-date with the latest happenings in the financial markets. New articles are regularly uploaded on the blog, while old articles are often updated from time to time.
FAQ
FAQs are a comprehensive list of traders’ most common questions and their corresponding detailed answers. BlackBull Markets provides traders with a detailed FAQ section covering various topics, including account management, deposits/withdrawals, trading conditions, trading hour changes, security of funds, MetaTrader 4, and company info. To get the FAQ section, simply navigate to the “Support” at the top of the broker’s website.
BlackBull Markets Research and Education Summary
| Resources | BlackBull Markets |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | ✓ |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | ✓ |
| Other (Blog, FAQs) | ✓ |
There is a wide choice of secure payment methods at BlackBull Markets. This fosters the ease of making payments to and from your trading account. The broker accepts deposits in the following currencies: United States Dollar, Euro, Great British Pound, Australian Dollar, New Zealand Dollar, Singapore Dollar, Canadian Dollar, Japanese Yen, and South African Rand.
You have to log into your BlackBull Markets account through your secure client portal to deposit or withdraw funds. In the Client Portal, you will select your preferred deposit or withdrawal method to carry out the transaction. The following payment methods are available at BlackBull Markets for account deposits and withdrawals: bank wire, credit cards, and various electronic payment processors. However, withdrawals must be made using the same method that you originally deposited.
The time taken to process transactions may vary depending on the payment method in use. For instance, bank wire transfers may take up to 1 to 3 days to be processed, while some e-wallet payments are instant and allow you to manage your funds in real-time.
The minimum deposit amount is dependent on the account type you are trading with — the minimum deposit amount on the Standard and Prime accounts are $200 and $2,000, respectively. At the same time, the institutional account requires a minimum deposit of $20,000.
BlackBull Markets Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | x | x |
BlackBull Markets is a trading name of the BlackBull Markets Group, which is registered with the New Zealand Financial Services Provider Registry (FSPR) and is a member of the New Zealand Financial Services Complaints Limited (FSCL) dispute resolution scheme.
The FSPR aims to foster utmost transparency in financial market dealings. As a result, all companies who are registered with the FSPR must also be a member of an independent dispute resolution scheme. This is to ensure that complaints are dealt with impartially and independently.
BBG Limited is incorporated and regulated by the Financial Services Authority (FSA) of Seychelles
The broker also holds a derivative issuer license that was issued by the Financial Markets Authority. This government agency is responsible for the regulation of financial markets in New Zealand.
However, the lack of CFTC regulation is a strong indication that the broker does not offer its services to the residents of the United States.
BlackBull Markets Regulation Summary
| Regulator | BlackBull Markets |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other (FMA, FSPR, FSA) | ✓ |
BlackBull Markets Safety
As an online trading broker that has been in operation since 2014, we could say that BlackBull Markets is an experienced online financial services provider. The broker’s location is an added advantage as New Zealand is known to have a high standard of conduct and operational standards that all companies must comply with. The broker also maintains a strict Anti-Money Laundering (AML) / Counter Financing of Terrorism (CFT) policy to ensure that the broker runs above-board and ethically across all business practices.
Also, to ensure clients’ security and peace of mind, the broker keeps clients’ funds securely in segregated accounts within ANZ Bank in New Zealand.
The broker provides traders with a reliable support team who are available 24/6 to respond to clients’ general, technical, and account-based inquiries. The support team can be reached via telephone, email, and Live Chat.
Putting it all together, BlackBull Markets is an online brokerage firm that is designed to suit all levels of traders, from retail to high volume traders. They offer advanced trading platforms and essential trading resources — useful tools, educational materials, and more — to help traders gain an enhanced trading experience. The broker provides traders with competitive trading conditions, including low trading fees, zero commissions, multiple account options, and more. The minimum deposit required to start trading is $200.
