BlackBull Markets Review 2021

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BlackBull Markets Facts & Figures

BlackBull Markets offers forex and CFD trading on the MT4 & MT5 platforms.

InstrumentsForex, CFDs, indices, energies, metals, commodities
Demo AccountYes
Min. Deposit$200
Payment MethodsCredit Card, FasaPay, Mastercard, MoneyGram, Neteller, Skrill, UnionPay, Visa, Western Union
Min. Trade0.01 lots
Regulated ByFMA, FSA
MetaTrader 4Yes
MetaTrader 5Yes
STP AccountNo
ECN AccountYes
DMA AccountNo
Mobile AppsYes
Margin TradingNo
Auto TradingYes
Social TradingYes
Copy TradingNo
Trade SignalsNo
Islamic AccountYes
Buy and sell CFDs on the financial markets.
FTSE Spread10.4
GBPUSD Spread0.8
Oil Spread5.2
Stocks SpreadVariable

BlackBull Markets offers leveraged FX trading.

GBPUSD Spread0.8
EURUSD Spread0.2
EURGBP SpreadNot provided
Risk Warning – Your capital is at risk

BlackBull Markets is an ECN broker based in New Zealand, offering over 300 tradeable instruments on the MT4 and MT5 platforms. Here we’ll review the broker’s client portal, covering spreads, minimum deposits, regulation, plus the live and demo account login processes.

BlackBull Markets Details

Founded in 2014, Black Bull Group Limited (BlackBull Markets) is licensed by the New Zealand Financial Markets Authority and the Financial Services Authority (FSA) of Seychelles.

The broker is headquartered in Auckland, NZ and has an additional support office in Kuala Lumpur, Malaysia.

The company offers 10 years of combined institutional experience in the forex space. The broker is a true ECN, No Dealing Desk brokerage providing institutional-grade fintech services to retail clients.

Users can access award-winning platforms plus additional tools, including Myfxbook and ZuluTrade. Institutional clients can also access prime services and PAMM accounts.

Trading Platforms

MetaTrader 4

The MT4 system is the go-to option for many brokers and traders. The platform offers near-instant execution, interactive charts, and direct market trading using prime liquidity providers.

The platform supports Expert Advisors (EAs), as well as MetaScripts, which allow you to create your own automated trading robots. Traders can also access multiple order types, dozens of pre-installed indicators and analysis tools, multiple chart set-ups, and a market watch window.

MT4 is optimised for both Windows and Mac PCs, with separate download links available on the BlackBull Markets website.

The online version of MT4, MetaTrader WebTrader, is also available and allows clients to access trading via any supported web browser (Chrome, Mozilla, Firefox, etc.) from any device.

The WebTrader eliminates the need to install any additional software and offers all the same benefits as the desktop version, including a collection of indicators and drawing tools, financial news, plus live pricing and fast execution.

BlackBull Markets MetaTrader 4 trading platform
BlackBull Markets MetaTrader 4

MetaTrader 5

MT5 offers even faster processing times, hedging capabilities, advanced pending order functionality, and a broader range of tools and indicators. There’s also over 20 timeframes, an integrated economic calendar, and access to depth of market liquidity.

BlackBull Markets MetaTrader 5 Trading platforms
BlackBull Markets MetaTrader 5

You can download the platform straight from the BlackBull Markets website but you’ll need to create an account before you can start trading.


BlackBull Markets offers over 300 assets, including over 60 forex pairs, CFDs on some of the world’s most popular indices, commodities including oil and natural gas, plus gold and silver. Whilst a decent product list, we would like to have seen cryptocurrencies and shares.


Zero pip spreads are available at BlackBull Markets but typically start from around 0.8 pips in the ECN Standard account. Live spreads for EUR/USD start from 0.2 pips.

Blabkbull markets spreads review

Trading is commission-free in the ECN Standard account and in the ECN Prime account, the commission is $3.00 per lot ($6.00 per round turn). In the ECN Institutional account, the commission rate is negotiable.

BlackBull Markets also charges swap fees for keeping positions open overnight, which are calculated on an ongoing basis by the broker and are available in the trading platform.


The maximum leverage available at BlackBull Markets is 1:500 on currency pairs and precious metals. For oils and indices, you can leverage up to 1:100. Margin call calculations are explained in the Product Disclosure Statement.

Mobile Trading

The MT4 trading app is available to download on iOS and Android smartphones at no additional cost. The app is fully functional, offering a full set of trade orders, complete trade history, interactive navigator windows and charts, indicators, drawing tools, and automated trading functionality.

Blackbull Markets Mobile app platforms iOS and android

The broker also offers the ZuluTrade mobile app, a social copy-trading platform available on iPhone, iPad, and Android.

Payment Methods

Deposits are accepted in 9 currencies, including USD, EUR, GBP, and AUD, via bank wire, credit cards, Skrill, Neteller, Union Pay, and FasaPay. All options are processed instantly, apart from bank wire, which takes 1 – 3 days.

Withdrawals must be made using the same method that you originally deposited. The broker aims to process withdrawals within 24 hours. Fees are charged at 5.00 in the base account currency for credit card, Neteller, and Skrill, and 20.00 in the base account currency for international bank transfer.

Demo Account Review

BlackBull Markets offers a 30-day demo simulator with up to $100,000 in virtual funds. Users can choose between the Standard or Prime account and set their own leverage level up to 1:500. A demo account is an essential tool to test out trades and access real market data before experiencing the real thing.

BlackBull Markets Bonuses

At the time of writing, there are no promotional offers available at BlackBull Markets. Traders can check the broker’s website or social media pages for any future deals.


BlackBull Markets is incorporated and registered in New Zealand. The brokerage is also registered with the Financial Services Provider Registry (FSPR) with license number FSP403326 and is a member of the Financial Services Complaints Limited (FSCL) dispute resolution scheme.

The broker ensures the security of client funds, using ANZ Bank, one of the leading Australasian banks, to segregate money and manage its operational liquidity. Overall, we’re comfortable BlackBull Markets isn’t a scam.

Additional Features

Beginners can access a variety of educational resources, including MT4 videos, forex analysis guides, and a trading glossary. There’s also an economic calendar to keep an eye on market news and events.

The broker also offers free VPS services for traders who meet certain criteria, including NYC Servers and BeeksFX. In addition, there are two popular social trading platforms: ZuluTrade and Myfxbook.

ZuluTrade social trading at Blackbull
ZuluTrade social trading

BlackBull Markets Accounts

There are three main account types available at BlackBull Markets (ECN Standard, ECN Prime, and ECN Institutional), plus Islamic accounts and Active Trader accounts for eligible clients. The minimum lot size in the accounts is 0.01.


Spreads start from 0.8 pips in the Standard account and a minimum deposit of $200 is required. Trading is also commission-free in the Standard account.


Spreads are more competitive in the Prime account, starting from 0.1 pips. The minimum deposit required is $2,000. Commissions of $6 per round turn are payable.


For a $20,000 minimum deposit, Institutional account holders can access spreads from 0.0 pips. Institutional accounts also come with complimentary VPS access, customisable commission structures, dedicated 24/6 support, and customised MAM/PAMM platforms.


There are good reasons to open an account with BlackBull Markets:


Disadvantages of trading with this broker include:

Trading Hours

Note that the default server time in MT4 is GMT+2 (GMT+3 DST). Server times for forex are 00:00 – 24:00 Monday to Friday. For metals, trading times are 01:00 – 24:00 Monday to Thursday and 01:00 – 23:00 on Friday. Trading sessions are 01:00 – 24:00 for crude oil and 03:00 – 24:00 for brent oil (Monday to Friday). Specific opening times for indices can be found in the contract specifications.

Customer Support

You can contact the customer support team through several methods, including telephone, email, and 24/5 live chat.


All transmitted data on the platforms at BlackBull Markets is encrypted via a secure SSL connection. All client transactions are also managed within the secure client portal.

BlackBull Markets Verdict

Our review of BlackBull Markets has uncovered some good reasons to open a live account, including the competitive spreads and a wide choice of platforms and tools. We also liked the selection of deposit and withdrawal options. However, it would be nice to see negative balance protection offered as an added element of safety and regulation.

Accepted Countries

BlackBull Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use BlackBull Markets from United States.

Alternatives to BlackBull Markets

If you are looking for alternatives to BlackBull Markets we have compiled a list of the top 5 brokers that are similar to BlackBull Markets below. This list of brokers like BlackBull Markets is in order of similarity and only includes companies that accept traders from your location.

  1. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
  2. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  3. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  4. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
  5. Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.


How do I open a live account with BlackBull Markets? 

You can open a live account and set up your client login in just a few stages. Once you’ve submitted your ID verification, you’ll need to confirm your email address and wait for approval.

How do I open a BlackBull Markets demo account?

You can create a demo account by filling in a short online application form and setting the custom parameters of your account. You will then be emailed your demo login details.

Does BlackBull Markets offer any bonus deals? 

BlackBull Markets does not offer any bonuses or promo deals at this time. Check the broker’s website for future deals.

What is the margin call and stop out level at BlackBull Markets?

BlackBull Markets does not make margin calls. The stop out level is 50%.

Is BlackBull Markets a scam? 

Black Bull Group Limited (BlackBull Markets) is a legitimate company registered and incorporated in New Zealand (NZBN 9429041417799) and is a registered Financial Services Provider with a license issued by the Financial Markets Authority.

BlackBull Markets offers forex and CFD trading on the MT4 & MT5 platforms.

BlackBull Markets vs Other Brokers

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