BlackBull Markets Review 2023
- Daytrading Review Team
BlackBull Markets will suit traders of all experience levels with thousands of tradable instruments, tight spreads and the familiar MetaTrader platforms.
BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.
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BlackBull offers 64 forex pairs with very competitive pricing through its ECN accounts, with the standard commission-free spread starting from 0.8 and spreads with commission starting from zero. The broker supports diverse trading platforms including MT4 and MT5, and provides leverage up to 1:500.
BlackBull Markets offers CFD trading on an 2000+ global company shares with fast execution via MT4 or MT5. Spreads are variable and competitive, with a typical spread for Apple coming in at 0.04. All shares trading is done through derivatives meaning the company stocks are not bought or sold.
BlackBull Markets CFDs are offered on forex, stocks, indices, commodities and cryptos with tight spreads and high leverage. The ECN accounts offer fast execution and low slippage, and the broker provides traders with plenty of extra tools and features plus 24/7 customer support.
BlackBull Markets traders can speculate on 11 cryptocurrencies including Bitcoin, Litecoin and Ethereum with up to 1:5 leverage. The crypto tokens are traded in pairs with USD and the broker offers a transparent pricing schedule.
Blackbull Markets offers an excellent selection of social and copy trading products on its CopyTrader system, plus HokoCloud, DupliTrade and Myfxbook. Traders can copy trades and strategies in a range of popular financial markets with user-friendly risk management tools.
- Best ECN Broker 2022
- Deloitte Fast 50 Index 2021
- Best NZ Forex Broker 2021
- CopyTrader, ZuluTrade, HokoCloud and Myfxbook copy trading
- Commission-free trading with spreads from 0.0 pips
- Good range of platforms including TradingView Pro
- Responsive customer service during testing
- Excellent educational content for beginners
- $0 minimum deposit and 0.01 lot trades
- Huge range of 26,000+ instruments
- Autochartist plugin
- Withdrawal fees with some methods
- US traders not accepted
BlackBull Markets is an ECN broker based in New Zealand. Retail traders can enjoy spreads from as little as 0.0 pips, lightning-fast execution speed, leverage up to 1:500, and access to 26,000+ tradable assets, including forex, stocks, and indices. This 2023 review will cover the broker’s client portal, account types, spreads, minimum deposit requirement, and regulation, plus the live and demo account login processes. Find out whether to sign up with BlackBull Markets today.
Founded in 2014, Black Bull Group Limited (BlackBull Markets) offers access to thousands of instruments on industry-renowned and proprietary trading platforms. The broker is headquartered in Auckland, New Zealand.
The company founders offer 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.
Today, BlackBull Markets serves over 20,000 day traders across 180+ countries.
The broker is licensed by the New Zealand Financial Markets Authority (FMA) and registered as a security dealer by the Financial Services Authority (FSA) of Seychelles.
BlackBull Markets offers several platform options so there is something for everyone. This includes a proprietary shares app plus MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MT4 and MT5 are available for download to Windows and Mac devices or can be used via all major web browsers. Download links are available on the BlackBull Markets website.
The MT4 system is the go-to option for many brokers and traders. The platform offers near-instant execution speeds, 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 robots.
Traders can also access multiple order types, 30+ pre-installed indicators and analysis tools, nine timeframes, one-click order execution, multiple chart set-ups, and a market watch window.
The WebTrader eliminates the need to install any additional software and offers all the same benefits as the desktop version, including drawing tools, financial news and live pricing.
MT5 offers advanced financial trading functions. This includes comprehensive price analysis, the use of algorithmic trading applications and copy trading.
In addition, users can benefit from access to superior tools for technical and fundamental analysis, hedging capabilities and advanced pending order functionality. Other key features include 21 timeframes, 38 built-in indicators and an integrated economic calendar.
The broker also offers TradingView as an alternative platform. The world’s leading charting and social trading platform can be used on both desktop and mobile devices. The terminal provides access to 12 chart types, 100+ pre-built indicators, 50+ drawing tools and multi time-frame analysis.
The interface is modern, with clear navigation and customizable features.
BlackBull Shares is the broker’s proprietary mobile app providing access to global share trading across 80+ markets. It is available for free download to iOS and Android devices. When we used BlackBull Markets stocks application, we were impressed with the one-stop shop to trade and manage your account whilst on the go.
Key features include:
- 70+ order types
- ESG dashboard filters
- Extended trading hours
- Advanced analysis tools
- Data feeds from 66+ third-parties
Connect with expert traders across the world. BlackBull Social is a powerful platform that allows you to execute trades following the strategies of master traders. The ultra-low latency ecosystem means copy-trades are executed as close to the masters as possible. You can leverage the broker’s interactive environment and advanced monitoring features to social-proof the strategies you choose to follow.
The main functions include:
- Set advanced trade parameters
- Access dedicated 24/7 customer support
- Review the trade history of all master traders
- Review real-time reporting on all investments
- Connect with traders via exclusive social features
Assets & Markets
BlackBull Markets offers an impressive 26,000+ global instruments. This includes 64 forex pairs, CFDs on some of the world’s most popular indices and cryptocurrencies, commodities including oil and natural gas, plus gold and silver.
Stock trading is also available via leveraged CFDs and on underlying shares.
Blackbull Markets Fees
BlackBull Markets trading fees are competitive, though these costs vary by account type and instrument. The broker charges no commission on the ECN Standard profile, with spreads from 0.8 pips. Clients using the ECN Prime account will incur tighter spreads from 0.1 pips, with commissions from $6 per lot. Advanced investors trading under the ECN Institutional account type can benefit from negotiable commission rates and spreads from 0.0 pips.
Swap fees apply for keeping positions open overnight.
When we used the BlackBull Markets platform, we were pleased with no account opening costs or inactivity fees for dormant profiles.
The broker offers substantial margin trading opportunities with a maximum leverage of 1:500 available on currency pairs and precious metals. For energies and indices, you can utilize leverage up to 1:100. Although investing with significant leverage can increase profit prospects, it can also increase losses. Ensure you have appropriate risk management strategies in place. We would not recommend beginners use a high leverage ratio when getting started. Margin call calculations are explained in the Product Disclosure Statement.
All platforms are available with mobile compatibility, including free downloads to iOS and Android devices. When we used the apps on a portable device, our experts confirmed all options are fully functional with interactive navigator windows.
MT4 and MT5 permit access to all trading indicators, drawing tools, and automated functionalities found within the web-based platforms.
The broker also offers the ZuluTrade mobile app, a social copy-trading platform available on iPhone, iPad, and Android.
Deposits & Withdrawals
Deposits are accepted in nine currencies including USD, EUR, GBP, JPY and AUD. When we used the BlackBull Markets terminal, we were pleased to see all payment methods are free, although third-party charges may apply.
Available deposit methods include:
- China Union Pay
- Bank Wire Transfer
- Credit/Debit Cards (Visa & MasterCard)
All payments are processed instantly, apart from bank wire transfers which can take up to three working days for funds to clear.
Withdrawals must be made using the same method that you originally deposited. The broker aims to process withdrawals within 24 hours. Fees apply at 5.00 in the base account currency for credit/debit cards, Neteller, Skrill, and international bank wire transfers.
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 a useful 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.
Regulation & Licensing
Black Bull Group Limited is incorporated and registered in New Zealand, regulated by the local Financial Markets Authority (FMA). 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.
Global clients may trade under the BBG Limited subsidiary, registered in the Seychelles and regulated by the Financial Services Authority (SVGFSA). The levels of support and protection may vary depending on the entity.
The broker maintains a strict Anti-Money Laundering (AML) / Counter Financing of Terrorism (CFT) policy.
We are satisfied with the additional features offered by the broker. Day traders can make use of social trading tools such as Myfxbook, HokoCloud and ZuluTrade. The broker also offers free VPS services for traders who meet certain criteria, including NYC Servers and BeeksFX. Institutional clients can also access prime services and PAMM accounts.
It is good to see various educational resources, ideal for beginners. This includes MT4 videos, forex analysis guides, and a trading glossary.
There is also an economic calendar to keep an eye on market news and events.
The online broker partnered with Autochartist in 2022 to offer powerful market analytics and automated opportunity identification. The plugin, which is integrated with MT4 and MT5, scans the markets and alerts users to potential trading opportunities.
It uses pattern recognition technology to monitor the markets 24/7 and is an important feature in many traders’ toolkits.
Blackbull Markets offers three account types to day traders; ECN Standard, ECN Prime, and ECN Institutional. Packages have been tailor-made to suit clients needs, with varying initial investment values. All accounts have access to leverage up to 1:500, all instruments and a minimum lot size of 0.01.
We outline the features of each profile below:
The Standard Account type is perfect for beginners. With no commissions applicable and low spreads, it’s easy to get started.
- NY4 equinix server
- $0 minimum deposit
- Spreads from 0.8 pips
The most popular profile with a true ECN experience using direct to market processing.
- NY4 equinix server
- Spreads from 0.1 pips
- $2000 minimum deposit
- Commission from $6 per lot
For retail traders looking for institutional services and advanced functionality.
- Spreads from 0.0 pips
- $20,000 minimum deposit
- Commission from $3 per lot
- Custom equinix server options
It is quick and easy to open a new account. To register, select ‘Sign Up’ on the top right of each web page. Complete the application form and provide the relevant verification details including identity documentation. KYC and AML compliance is adhered to here.
Note, Islamic accounts and Active Trader accounts are available for eligible clients.
The default server time in MT4 is GMT+2 (GMT+3 DST). Trading hours will vary by instrument. 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. Sessions are 01:00 – 24:00 for crude oil and 03:00 – 24:00 for brent oil (Monday to Friday).
Keep an eye on the latest session timetables via the broker’s terminal interface. This is particularly useful to stay up to date with upcoming market closures such as public holidays.
You can contact the customer support team via several methods, including telephone, email, and 24/7 live chat.
- Telephone – (+64) 9 558 5142
- Email – email@example.com
- Office – Level 22, 120 Albert Street, Auckland 1010, New Zealand
Security & Safety
Our experts are pleased with the security measures implemented by the broker. All transmitted information is encrypted via a secure SSL connection. BlackBull Markets adheres to segregated client funds in top-tier banks and offers negative balance protection.
Additionally, the company is registered with the FSPR meaning strict legislation must be followed. AML and KYC policies are operational for all new client registrations and ongoing.
Overall, we’re comfortable BlackBull Markets isn’t a scam.
BlackBull Markets Verdict
Our review of BlackBull Markets has uncovered several good reasons to open a live account, including access to competitive spreads and a wide choice of platforms and tools. Regulation and customer protection will vary between the trading entity. Utilize demo profile services before opening a real account.
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. Complete the online registration form and submit your ID verification. You will 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 promotions.
What Is The Margin Call And Stop Out Level When Trading With 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 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.
BlackBull Markets Details
|Minimum Trade||0.01 Lots|
|Regulated By||FMA, FSA|
|Mobile Apps||iOS & Android|
|AI / Machine Learning||No|
|Negative Balance Protection||Yes|
|Guaranteed Stop Loss||No|
CFD Trading Details
|FTSE Spread||10.4 pips (variable by account)|
|GBPUSD Spread||0.8 pips (variable by account)|
|Oil Spread||5.2 pips|
Forex Trading Details
|GBPUSD Spread||Average 0.8 pips (variable by account)|
|EURUSD Spread||Average 0.2 pips (variable by account)|
|EURGBP Spread||Average 0.8 pips (variable by account)|
Cryptocurrency Trading Details
|Crypto Auto Market Maker||No|
Top 3 Alternatives to BlackBull Markets
Compare BlackBull Markets with the top 3 similar brokers that accept traders from your location.
IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group
Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Go to Just2Trade
Kwakol Markets – Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of asset classes are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
Go to Kwakol Markets
BlackBull Markets Comparison Table
|BlackBull Markets||IG Group||Just2Trade||Kwakol Markets|
|Markets||Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos||CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting||Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds||CFDs, Forex, Stocks, Indices, Commodities, Crypto|
|Minimum Trade||0.01 Lots||0.01 Lots||0.01 Lots||0.01 Lots|
|Regulators||FMA, FSA||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||CySEC, NFA, FINRA, Bank of Russia||ASIC, FINTRAC|
|Bonus||–||–||Up to $2,000 for professional accounts||–|
|Platforms||MT4, MT5, TradingView, AutoChartist||MT4, AutoChartist, TradingCentral||MT4, MT5, TradingCentral||MT4, MT5, AutoChartist|
|Leverage||1:500||1:30 (Retail), 1:250 (Pro)||1:20||1:1000|
Compare Trading Instruments
Compare the markets and instruments offered by BlackBull Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
|BlackBull Markets||IG Group||Just2Trade||Kwakol Markets|
BlackBull Markets vs Other Brokers
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|BlackBull is a New Zealand-based CFD broker with trading opportunities on forex, stocks, indices, commodities and cryptos. The broker supports the MetaTrader 4 and 5 platforms as well as TradingView and a proprietary mobile app. Clients can trade with high leverage and tight spreads from 0 pips on the broker's ECN accounts.|