BlackBull Markets Review

Regulations - 7/10

New Zealand Regulation

BlackBull Group LTD. (aka BlackBull Markets) is a regulated Financial Service Provider in New Zealand. The NZ Financial Markets Authority (FMA) has issued them an FSP No.403326 as testimony to Black Bull Markets's legitimacy.

Seychelles Regulation

BBG LTD. is BlackBull Market's offshore entitiy, and they are regulated by the Financial Services Authority (FSA) Seychelles, as a Securities Dealer. Their license number is SD045.

Account Types - 6/10

1. ECN Standard Account

This account has a spread-only fee structure, so it is appropriate if you don't like to deal with commissions per trade. It is an ideal account for starters.

2. ECN Prime Account

On this account you pay commissions on every trade plus lower spread than what you pay on the Standard Account.

3. ECN Institutional Account

This account has the lowest spread than all the other accounts and its commission is also lower than what you pay on the ECN Prime Account. However, it has a very high minimum deposit.

Funding & Withdrawal - 10/10

BlackBull Markets Minimum Deposit

BlackBull Markets minimum deposit is $1 on the Standard Account and $2,000 on the ECN Prime Account. The ECN Institutional Account has an even higher minimum deposit of $20,000.

The payment providers that service BB Markets, also specify their own minimum deposit as follows:

BlackBull Markets Minimum Withdrawal

BlackBull Markets minimum withdrawal is $0, meaning you can withdraw as little as you like. You can also withdraw as many times as you like, as there is no embargo on the number of times you can withdraw in a day.

BlackBull Markets Withdrawal Time

BlackBull Markets withdrawal time is instant, but if you are withdrawing to an international bank it may take up to 3 days.

BlackBull Markets Fees - 8/10

Spread & Commission

The Standard Account spreads start from 0.8 pips which is below the industry average of 1 pip.

The Standard Account does not require you pay any commissions per trade though.

The ECN Prime Account requires you pay a commission per trade of $3 per side but in return you get lower spreads from 0.1 pips.

For us this is not good enough, because most brokers who charge a $3 per side commission, also charge lower spreads from 0.0 pips.

Now speaking of 0.0 pip spread, the ECN Institutional Account offers it plus a $2 per side commission; but the minimum deposit is pretty high at $20,000.

Inactivity fees

BlackBull Markets does not charge an inactivity fee. This means that if you leave your account idle for a period of time, you will not incur any charges for that inactivity.

Overnight Fees

When holding leveraged positions past the trading day's end, BlackBull Markets charges overnight fees (swap fees or financing rates). These fees are interest payments for borrowed capital.

Range Of Markets - 8/10

1. Forex CFDs

BlackBull provide access to 70+ currency pairs, including major, minor, and exotic ones.

2. Indices CFDs

Over 10+ indices are on offer including the popular ones like NAS100, US30, etc. You can also trade Asian indices like AUS200, JPN225 and ChinaA50.

3. Stock CFDs

Over 1,500 stock CFDs are on offer and they are stocks from major US, EU & Asian companies

4. Commodity CFDs

Commodities on offer are few. Energy includes just WTI & Brent Crude. Metals are around 10+ pairs including XAU/USD.

5. Futures CFDS

BlackBull has Futures trading on Bonds, Gold, Silver, Energies & Indices.

6. Crypto CFDs

There are 20+ Crypto CFDs on offer including BTC/USD & ETH/USD.

Account Management - 7/10

Account Currency

BlackBull Markets account can be opened in a variety of base currencies for its trading accounts. These include USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, ZAR, CHF, and THB.

Max. Number of Trading Accounts

You can open 5 of each account type which means a total of 15 trading accounts (5 Standard, 5 ECN Prime & 5 ECN Institutional)

Leverage

BlackBull Markets offer Up to 1:500 leverage.

Negative Balance Protection

BlackBull Markets offers negative balance protection. This means that if your trading account balance goes negative due to market volatility your losses will not exceed your initial deposit. This protection is available on all account types and ensures that traders are not liable for losses beyond their invested capital.

How to Open a Live Account at BlackBull Markets

Step 1: Register & Create a Profile

Visit the BlackBull Markets website to signup. You will be promoted to enter in your email address, password, your name, Surname, middle name, and Select your country of residence & nationality, password, then proceed to verify your email address.

Step 2: Select Your preferred trading Platform

BlackBull Markets trading platforms includes TradingView, MT4, MT5, cTrader, BlackBull copy Trader.

Step 3: Choose your Account Currency & Account Type

Select the account display currency you are comfortabkle with.

Step 4: Answer A few Questions on your Financial Experience

Here, you will be asked questions about your employment status, source of funds, investing experience etc.

Step 5: ID Verification

Upload your government issued means of identification and submit.

Platforms - 10/10

Tools - 9/10

1. Calculators

On their website, BlackBull provides a Margin Calculator, Profit/Loss Calculator, Swap Calculator & a Currency Converter.

2. FIX API Trading

BlackBull Markets has API trading and this feature allows your trading robot to communicate directly with BlackBull ECN grid. The result is Direct Market Access, Lower Latency, Better Execution Speed etc.

3. Copy Trading

You can copy the trades of others or even offer your trades to be copied by others at BlackBull.

They have their own copy trading app called "BlackBull Copy Trader".

You can also connect your BlackBull account to external copy trading providers like Myfxbook & ZuluTrade, and copy the trades of strategy providers using those platforms.

Support - 8.5/10

Live Chat

BlackBull offers 24/7 support through Live Chat & Whatsapp. The wait time is below 1-minute.

Telephone & Email Support

There is a telephone number (not toll-free) that you can reach BlackBull Markets on. It is displayed on their website alongside a support email address.

Education

BlackBull has provided beginner, intermediate & pro educational courses on their website.

Final Verdict - 7.5/10