Most CFD/FX brokers that we review have at least some issues on the reputation front. That is NOT the case with BlackBull Markets.
Launched in 2014, the New Zealand-based operation has a superb standing in the trading community. Forums and message boards are rife with raving reviews from actual users. The only complaints concern the alleged difficulty of the registration process.
Apparently, sometimes traders have problems having their submitted documents accepted by the broker, despite the fact that they deliver an astonishing range of IDs, passports and bank statements.
The broker is obviously keen on the KYC/AML policy which its regulator compels it to observe.
Regulatory compliance is indeed among the top priorities of the brokerage, but it has also picked up a number of awards for the overall evolution of the business, from Deloitte.
The company behind the BlackBull Markets brand is Black Bull Group Limited, based in Auckland, New Zealand (at Level 22 120, Albert Street). The corporate entity is registered locally. Its company number is 5463921. The brokerage operates under the regulatory umbrella of the New Zealand Financial Services Provider Register (license number FSP 403326).
Interestingly, despite being based in New Zealand and regulated by the local authorities, BlackBull Markets does not accept local clients. Its global reach is impressive however; with the exception of the US and a handful of EU countries such as France and Belgium, it peddles its services everywhere, including the whole of Canada.
Most of the EEA is apparently within the reach of the broker as well, most likely due to its UK presence.
The UK branch of the brokerage is represented by Black Bull Group UK Limited, also a registered company (reg. number: 9556804). Payment clearing services for the operator are provided by BlackBull Group UK Ltd, based at 483 Green Lanes, London, Greater London, United Kingdom, N13 485.
Why would you, an average retail trader, want to make use of the services of this broker?
Above and beyond its solid regulatory status and unsurpassed reputation among traders, BlackBull Markets offers superb ECN execution, MT4 as its main (and only) trading platform and access to outstanding liquidity provided by some of the world’s top banks.
The broker is an NDD (No Dealing Desk) operation, meaning that it does not alter traders’ orders in any shape or form. STP (Straight Through Processing) is also part of the BlackBull Markets package.
Market coverage-wise, BlackBull shines yet again: not only does it offer access to a staggering range of FX pairs, it can also provide exotics/crosses on request. Such flexibility is always a mark of greatness.
Crypto CFDs can also be traded at the broker.
In addition to the above, BlackBull features cutting edge Equinix NY4 Servers, as well as segregated client accounts (required by its regulatory obligations).
BlackBull Markets Account Types
Unlike most of the brokers we review, BlackBull Markets focuses its account-type selection on practicality.
There are three real money account types (in addition to a very useful Demo one), every one of which has an actual role in the lineup.
The ECN Standard Account is for beginners. Requiring a minimum deposit of just $200, it is clearly aimed at the rank-and-file trader.
That said, it features some rather outstanding trading conditions. Spreads on this account start from just 0.8 pips and there is no commission charged. The maximum available leverage is a massive 1:500 – absolutely outstanding for a Standard account.
Furthermore: the Standard account offers access to micro lots as well as to the whole range of tradable assets (including crypto CFDs) brought to bear by the broker.
The ECN Prime Account is billed as BlackBull’s most popular account variant and it is easy to see why.
With a minimum deposit requirement of $2,000, ECN Prime does raise the stakes, but it does so in reasonable fashion.
Those who register for such an account get STP execution coupled with spreads starting from just 0.1 pips on major currency pairs. The commission is set to $5 per traded lot.
The maximum available leverage is 1:500 on this account-type too.
The top end of the account-type list is taken up by the Institutional Account, which is aimed at large volume traders.
The minimum required deposit on this one is $20,000 – so it is obviously not for small-timers. The spreads on this one start from 0 pips, commissions can be negotiated and the maximum leverage is 1:500.
Institutional traders benefit from a range of extra services, such as complementary VPS, MAM/PAMM options as well as White Labeling options and dedicated support.
Traders of the Islamic faith have the Islamic Account option. A swap-free setup, this account type can be accessed through the Standard- as well as the Prime accounts.
The maximum on the leverage is 1:500 on this account type too, and – it almost goes without saying – the full range of tradable assets can be accessed.
BlackBull Markets Trading Platforms
As mentioned, the only trading platform currently provided by the broker is MT4. The award-winning trading platform comes in several versions, covering Windows, Mac and Mobile platforms, though for the time being, BlackBull’s versions do not extend to Web Trading.
The basic Windows-based variant is quite the trading environment though. Even the Demo version is fully customizable, and it has no fewer than 85 technical indicators pre-installed.
Traders can always add more though and they can customize/create their own EAs (Expert Advisors) from scratch too.
MT4 supports multiple order types, scores of different chart types, time frames and setups, which can be saved for later use.
For high-volume traders, automated trading is a very real and useful possibility, due to the availability of a free VPS service.
Though MT4 is indeed just one platform variant, it is a true all-in-one solution which works very well by itself.
Market Coverage with BlackBull Markets
BlackBull’s market coverage is excellent and more importantly: flexible. In addition to all the major, minor and exotic currency pairs, the broker offers 6 index-based CFDs. Gold, silver, oil and natural gas, as well as cryptocurrencies can be traded. This asset class is represented by the pairings of BTC, ETH, LTC and DASH with the USD.
As always: it has to be pointed out that cryptocurrencies are traded through CFDs, and thus, they cannot be purchased from the broker in any shape or form.
Deposits and Withdrawals with BlackBull Markets
BlackBull Market’s traders can fund their accounts via a decent number of money transfer solutions.
Bank Wire is obviously the most basic. Credit Cards, like VISA and MasterCard are also supported, as are eWallets, such as Skrill and Neteller.
UnionPay and RPNPay round out the picture.
The broker aims to process all withdrawal requests within 2 days.
Customer Support from BlackBull Market
Support can be contacted through live chat, email ([email protected]), and phone ((+64) 9 558 5142). A support office is maintained in Kuala Lumpur, Malaysia, too.
BlackBull Markets Review Conclusion
BlackBull Markets is obviously a superb trading destination. It offers attractive leverage, outstanding trading conditions (with spreads from 0.1 pips) and it is the possessor of multiple industry awards.
Perhaps most importantly though, the broker delivers proof that a 5-year-old online FX/CFD brokerage can indeed build up and maintain a superb reputation among actual traders.
Considering the above, we can whole-heartedly recommend this broker.Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.