Broker Information
  • Company Name: BlackBull Markets
  • Founded: 2014
  • Country: New Zealand
Broker Services
  • Regulators: FSPR
  • Minimum Deposit: $200
  • Leverage: 1:500
  • US Clients: No
  • EURUSD Spread: From 0.1
Platform Info
  • Platform: MT4

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BlackBull Markets Pros
  • Leverage Up To 500:1
  • $200 Min Deposit
  • 60+ Tradeable Instruments

Pros Cons
  • User-friendly platform with great trade-analysis tools
  • Leverage Up To 1:500
  • Spreads as low as 0.1 pips
  • Quality trade execution thanks to high-spec IT infrastructure
  • Numerous ways to replenish and withdraw funds
  • Number of markets is satisfactory but not ground-breaking

 

Trader’s Viewpoint

BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following.

The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. However, the trading experience is supported by an impressive technological infrastructure that ensures high-quality trade execution that will also impress more experienced traders.

The BlackBull registration process is straightforward and one neat feature is that the deposits and withdrawals process has been simplified. A move some other brokers might want to consider following.

More than 300 markets are on offer, which is sufficient for most needs. While there isn’t much depth in terms of instrument choice, the key asset groups are covered. It’s possible to trade more than 60 major, minor and exotic currency pairs, six index-based CFDs, gold, silver, oil and natural gas.

Another positive feature is that BlackBull Markets offers a greater than average range of account types. There are six different options to choose from to ensure you get the best fit for you.

More experienced traders will note the potential to take advantage of very generous margin terms. Leverage of 1:500 is possible and execution spreads can be as low as 0.1 pips.

BlackBull is a well thought out platform, as demonstrated by its selection of MetaTrader4 and MetaTrader5. They are available in Desktop, WebTrader and mobile App format and compatible with Android and iOS operating systems.

If you’re just starting in trading BlackBull is an excellent pick for your short-list of candidate brokers. If you’re more experienced and looking to switch from another broker then a quick scan of the list of the add-ons found at BlackBull will grab your attention:

  • Equinix Data Centre
  • FIX API
  • NYC servers
  • Beeks FX
  • CPA Affiliates
  • Myfxbook
  • White Labels
  • VPS
  • ECN
  • SwipeStoc
  • PsyQuation
  • MAM/PAMM

About BlackBull Markets

Most CFD/FX brokers 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 developed a passionate following in the trading community. Forums and message boards are rife with raving reviews from actual users.

BlackBull Markets is a true ECN, no-dealing-desk broker. Founded by a team of seasoned and successful professionals, it has all the hallmarks of being run by traders, for traders.

There is also a fintech twist with the firm tapping into the world-renowned ‘can-do’ attitude of New Zealand tech firms. The premium trading tools and services they have developed have in turn driven rapid growth in what is an ultra-competitive sector

Regulatory compliance is among the brokerage’s top priorities, but it has also picked up several awards for its overall evolution, 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, nor those of the US, France or Belgium. Its global reach is impressive; with the firm developing a global client base, including Canada.

Black Bull Group UK Limited represents the brokerage’s UK branch that is 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.

Who does BlackBull Markets appeal to?

Above and beyond its solid regulatory status and unsurpassed reputation among traders, BlackBull Markets offers superb ECN execution, MT4 and MT5 platforms 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.

BlackBull shines yet again market coverage-wise, not only does it offer access to a staggering range of FX pairs, but it can also provide exotics/crosses on request. Such flexibility is a neat additional feature.

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 Website Screenshot

There are six different accounts to choose from, which ensures clients can opt for the T&Cs which are right for them.

Standard account

Minimum deposit requirement of $200 with zero commissions. 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. Micro-lot trading is also available, making it an outstanding option for beginners.

Prime account

Minimum deposit requirement of $200 with high-quality execution and spreads starting from just 0.2 pips. This is BlackBull’s most popular account.

Institutional account

Minimum deposit requirement of $20,000 with super-tight spreads, 24/6 tech support and VPS, White Label and MAM/PAMM trading options.

Active Trader account

Improved T&Cs, including 24/7 dedicated account manager.

Islamic account

Shariah-compliant, this swap-free setup can be accessed through the Standard and the Prime accounts.

Demo account

Free and easy to set up

Markets and Territories

Offering a default package of more than 60 currency pairs is impressive enough but BlackBull takes things further. Utilising their tech infrastructure’s potential, they also allow clients to set up bespoke crosses and exotics. Some six index-based CFDs can also be sold along with a handful of metals and energy.

Fees and commissions

As noted above, a standard BlackBull Markets account has a minimum round-trip price of trading a Forex currency pair of at least 0.8 pips without commission.

The main account has a minimum round-trip price of EUR / USD of at least 0.1 pips plus a commission equivalent to 0.6 pips, that is, account holders of this type will never pay less than 0.7 pips.

Institutional account has low spreads and negotiable commission rates. This can be an extremely profitable deal for large investors with at least $ 20,000.

Average round-trip fees and the cost of other offered CFD instruments are industry average.

BlackBull Markets also deserve recognition for not charging additional administrative fees such as account inactivity fees.

Platform Review

The award-winning MetaTrader4 (MT4) trading platform comes in several versions, covering Windows, Mac and Mobile platforms.

There is also the option to use the WebTrader format of MT4, which ensures you can access the markets via any internet browser.

Even the Demo account has no fewer than 85 technical indicators pre-installed. It’s also possible to tap into the global MT4/MQL5 community and bolt-on the customised indicators developed by other traders or the world-renowned Expert Advisors (EA) service.

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 genuine and useful possibility due to the availability of a free VPS service.

Though MT4 is indeed just one platform variant, it is an all-in-one solution which works very well by itself.

BlackBull Markets Platform Screenshot

MetaTrader5 (MT5) offers even faster processing times than MT4 and the ability to hedge positions. The upgrade to pending order functionality and additional tools and indicators are also an excellent addition.

  • +20 time-frames
  • +30 built-in indicators
  • Integrated economic calendar

Mobile Trading

The BlackBull Markets mobile App is available for free and is compatible with iPhone, Android, iPad and Tablet.

The feel and touch of the mobile desktop is just the same as the desktop version. Considering the incredible range of powerful software tools included in the MetaTrader package, the App does an outstanding job of crossing nearly all those indicators over to a small screen format.

Social trading and copy trading

Social and copy trading is increasingly popular due to the ability of clients to gain exposure to markets without having to invest hours in research.

  • Expert Advisors offers a form of copy trading which is still the benchmark for the sector.
  • ZuluTrade, which is also on offer, offers a next-generation approach and slightly more user-friendly functionality.
  • Myfxbook allows users to share, analyse, track and compare their trading activities between their friends.

Education

BlackBull Markets’ educational offerings are reasonably extensive, but a little lightweight. Their education section offers trading training videos, trading guides, and a trading glossary.

The section “Trade resources” offers an economic calendar and daily market reports that summarise the hot topics of the day.

Trader protections by territory

BlackBull Markets has a moderate level of regulation. The company is registered as a financial services provider in the New Zealand Financial Services Provider Register (FSPR) with registration number FSP403326.

BlackBull Markets is also registered in the Financial Services Complaints Limited (FSCL) dispute resolution system. On matters related to money laundering and combating the financing of terrorism, the broker reports to the New Zealand Financial Markets Authority (FMA), which is the regulatory body for such cases in New Zealand.

BlackBull Markets is a subsidiary of BlackBull Group Limited. The parent company is also registered in New Zealand under registration number 5463921.

In accordance with the rules, BlackBull Markets holds clients’ funds in a tier 1 bank (currently ANZ bank) on segregated accounts and offers withdrawal and deposit methods on the same day.

BlackBull Markets uses modern technology to ensure the security of personal information of customers. All transmissions are protected and secured using 128-bit SSL encryption.

BlackBull Market’s traders can fund their accounts via a decent number of money transfer solutions.

Bank Wire is 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 two days.

How to open an account

The easiest way to open an account with BlackBull Markets is to visit the site and go through the registration procedure. It will take no more than five minutes.

To register for an account with BlackBull Markets, the customer will need to provide a valid ID and utility bill to show and confirm residency. To prevent money laundering or criminal activity third-party deposits or withdrawals are entirely unacceptable

Customer support

The easiest way to contact BlackBull Markets support is to use the official website’s chat feature.

If the client cannot contact the support staff via chat, then it is recommended to use e-mail (support@blackbullmarkets.com) or phone ((+64) 9 558 5142).

The bottom line

BlackBull Markets is a relatively new entrant to the sector, but it has moved trading on quite some way in a short period.

The tech infrastructure the broker operates on is institutional grade but that doesn’t mean things are complicated. The opposite is true, the site has a straightforward functionality and the ability to set up bespoke markets is a stand-out feature. As with most tech advances, the software upgrades are doing the heavy lifting resulting in a very pleasing user experience.

It’s a great broker for beginners with a market-leading range of add-ons that will allow clients to take their trading experience as far as they want to go.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

James West
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