|Large number of ways to replenish and withdraw funds||Online instructional videos have no depth|
|BlackBull Markets is an internationally licensed and regulated brand||The product portfolio is limited.|
Blackbull Markets is a reliable trading platform that provides its customers with access to cryptocurrency and exchange transactions. Blackbull Markets is registered in New Zealand; however, it does not accept customers from the country, as well as from the USA and several European countries.
The Blackbull Markets site is intuitive and easy to use, even for a beginner, it will not be difficult to understand.
A broker is a good choice; one of the reasons to pay attention to is the variety of trading instruments.
In addition to all major, minor and exotic currency pairs, the broker offers six index-based CFDs. Gold, silver, oil and natural gas, as well as cryptocurrencies, can be sold. This asset class is represented by pairs of BTC, ETH, LTC and DASH with the US dollar.
The registration process is simple and convenient and takes no more than 48 hours, but verification requires verification of identity and address.
It should also be noted that Blackbull Markets offers several types of accounts:
- Demo account
- Islamic account
- Standard account – the minimum required deposit is $ 200, also applies from 0.8 points.
- Main account – the minimum required deposit is 2,000 US dollars, STP execution and spreads, starting from just 0.1 points.
- Institutional account – the minimum deposit required is $ 20,000, spreads start at 0 points, and commissions are negotiable.
BlackBull Markets accepts conventional deposit methods. Bank transfer and some payment systems.
Cryptocurrencies are also traded through CFDs (which are derivative financial instruments).
This means that BlackBull Markets does not sell real cryptocurrencies, since CFDs offer only exposure to fluctuations in the price of the underlying asset. Actual property is not involved in this type of trade.
BlackBull Markets allows customers to select leverage ratios of less than 1: 500 in the range up to 1:30 in accordance with their level of comfort.
For online trading in the Blackbull markets, there is a platform Meta Trader 4 and WebTrader.
Several different MT4 options can be downloaded for free from the BlackBull Markets website, including Windows and Mac computers, as well as Android and iOS mobile systems.
The WebTrader platform is accessible through all major browsers, and in addition, the web trader’s service has been tested for security.
About BlackBull Markets
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.
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 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).
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.
Markets and Territories
Although the broker’s default choice of FX pairs is quite impressive, BlackBull Markets is very flexible in this regard. Traders can actually request access to various crosses and exotics.
Some six index-based CFDs can also be sold along with a handful of metals and energy.
The most interesting class of assets covered by the operator is cryptocurrency. In addition to Bitcoin, Litecoin, Ethereum and DASH are in this class.
Cryptocurrencies are also traded through CFDs (which are derivative financial instruments). This means that BlackBull Markets does not sell real cryptocurrencies since CFDs offer only exposure to fluctuations in the price of the underlying asset. Actual ownership is not involved in this type of trading.
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 does not charge any additional fees, such as account inactivity fees.
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.
BlackBull Markets does not have any mobile applications for trading, but the platform through which MT4 and MT5 offer to trade have a mobile app. It should also be added that the BlackBull Markets website is adaptive for mobile devices.
Social trading and copy trading
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.
BlackBull Markets’ educational offerings are fairly extensive, but a little lightweight. Their education section offers trading training videos, trading guides, and a trading glossary. The section “Trade resources” offers, in particular, an economic calendar.
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 stores customer 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 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.
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.
In order to register for an account with BlackBull Markets, the customer will need to provide a valid ID and utility bill to show and confirm the fact of residence. Third-party deposits or withdrawals are completely unacceptable to prevent money laundering or criminal activity.
The easiest way to contact BlackBull Markets support is to use the chat feature available on the official website.
If the client cannot contact the support staff via chat, then it is recommended to use e-mail ([email protected]) or phone ((+64) 9 558 5142).
The bottom line
BlackBull Markets is definitely a great place to trade. It offers an attractive leverage, outstanding trading conditions (with spreads from 0.1 points) and is the holder of many industry awards.
Perhaps most importantly, the broker provides evidence that the 5-year-old online FX / CFD broker can truly build and maintain an excellent reputation among real-life traders.
Given the above, we can sincerely recommend this broker.
Please note that some products and/or multiplier levels may not be available to traders from EEA countries due to legal restrictions.Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.