BlackBull Markets DetailsTrading PlatformsInstrumentsFeesLeverageMobile TradingPayment MethodsDemo Account ReviewBlackBull Markets BonusesLicensingAdditional FeaturesBlackBull Markets AccountsBenefitsDrawbacksTrading HoursCustomer SupportSecurityBlackBull Markets VerdictAccepted CountriesAlternatives to BlackBull MarketsFAQ
BlackBull Markets is an ECN broker based in New Zealand, offering over 300 tradeable instruments on the MT4 and MT5 platforms. Here we’ll review the broker’s client portal, covering spreads, minimum deposits, regulation, plus the live and demo account login processes.
BlackBull Markets Details
Founded in 2014, Black Bull Group Limited (BlackBull Markets) is licensed by the New Zealand Financial Markets Authority and the Financial Services Authority (FSA) of Seychelles.
The broker is headquartered in Auckland, NZ and has an additional support office in Kuala Lumpur, Malaysia.
The company offers 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.
Users can access award-winning platforms plus additional tools, including Myfxbook and ZuluTrade. Institutional clients can also access prime services and PAMM accounts.
Trading Platforms
MetaTrader 4
The MT4 system is the go-to option for many brokers and traders. The platform offers near-instant execution, 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 trading robots. Traders can also access multiple order types, dozens of pre-installed indicators and analysis tools, multiple chart set-ups, and a market watch window.
MT4 is optimised for both Windows and Mac PCs, with separate download links available on the BlackBull Markets website.
The online version of MT4, MetaTrader WebTrader, is also available and allows clients to access trading via any supported web browser (Chrome, Mozilla, Firefox, etc.) from any device.
The WebTrader eliminates the need to install any additional software and offers all the same benefits as the desktop version, including a collection of indicators and drawing tools, financial news, plus live pricing and fast execution.
BlackBull Markets MetaTrader 4
MetaTrader 5
MT5 offers even faster processing times, hedging capabilities, advanced pending order functionality, and a broader range of tools and indicators. There’s also over 20 timeframes, an integrated economic calendar, and access to depth of market liquidity.
BlackBull Markets MetaTrader 5
You can download the platform straight from the BlackBull Markets website but you’ll need to create an account before you can start trading.
Instruments
BlackBull Markets offers over 300 assets, including over 60 forex pairs, CFDs on some of the world’s most popular indices, commodities including oil and natural gas, plus gold and silver. Whilst a decent product list, we would like to have seen cryptocurrencies and shares.
Fees
Zero pip spreads are available at BlackBull Markets but typically start from around 0.8 pips in the ECN Standard account. Live spreads for EUR/USD start from 0.2 pips.
Trading is commission-free in the ECN Standard account and in the ECN Prime account, the commission is $3.00 per lot ($6.00 per round turn). In the ECN Institutional account, the commission rate is negotiable.
BlackBull Markets also charges swap fees for keeping positions open overnight, which are calculated on an ongoing basis by the broker and are available in the trading platform.
Leverage
The maximum leverage available at BlackBull Markets is 1:500 on currency pairs and precious metals. For oils and indices, you can leverage up to 1:100. Margin call calculations are explained in the Product Disclosure Statement.
Mobile Trading
The MT4 trading app is available to download on iOS and Android smartphones at no additional cost. The app is fully functional, offering a full set of trade orders, complete trade history, interactive navigator windows and charts, indicators, drawing tools, and automated trading functionality.
The broker also offers the ZuluTrade mobile app, a social copy-trading platform available on iPhone, iPad, and Android.
Payment Methods
Deposits are accepted in 9 currencies, including USD, EUR, GBP, and AUD, via bank wire, credit cards, Skrill, Neteller, Union Pay, and FasaPay. All options are processed instantly, apart from bank wire, which takes 1 – 3 days.
Withdrawals must be made using the same method that you originally deposited. The broker aims to process withdrawals within 24 hours. Fees are charged at 5.00 in the base account currency for credit card, Neteller, and Skrill, and 20.00 in the base account currency for international bank transfer.
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 an essential 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.
Licensing
BlackBull Markets is incorporated and registered in New Zealand. 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.
The broker ensures the security of client funds, using ANZ Bank, one of the leading Australasian banks, to segregate money and manage its operational liquidity. Overall, we’re comfortable BlackBull Markets isn’t a scam.
Additional Features
Beginners can access a variety of educational resources, including 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 broker also offers free VPS services for traders who meet certain criteria, including NYC Servers and BeeksFX. In addition, there are three popular social trading platforms: HokoCloud, ZuluTrade and Myfxbook.
ZuluTrade social trading
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 Accounts
There are three main account types available at BlackBull Markets (ECN Standard, ECN Prime, and ECN Institutional), plus Islamic accounts and Active Trader accounts for eligible clients. The minimum lot size in the accounts is 0.01.
Standard
Spreads start from 0.8 pips in the Standard account and a minimum deposit of $200 is required. Trading is also commission-free in the Standard account.
Prime
Spreads are more competitive in the Prime account, starting from 0.1 pips. The minimum deposit required is $2,000. Commissions of $6 per round turn are payable.
Institutional
For a $20,000 minimum deposit, Institutional account holders can access spreads from 0.0 pips. Institutional accounts also come with complimentary VPS access, customisable commission structures, dedicated 24/6 support, and customised MAM/PAMM platforms.
Benefits
There are good reasons to open an account with BlackBull Markets:
ZuluTrade, HokoCloud and Myfxbook copy trading
Commission-free trading available
Cross-platform trading
Autochartist plugin
Trading academy
Drawbacks
Disadvantages of trading with this broker include:
Shares and cryptocurrencies not available
No negative balance protection
US clients not accepted
Trading Hours
Note that the default server time in MT4 is GMT+2 (GMT+3 DST). 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. Trading sessions are 01:00 – 24:00 for crude oil and 03:00 – 24:00 for brent oil (Monday to Friday). Specific opening times for indices can be found in the contract specifications.
Customer Support
You can contact the customer support team through several methods, including telephone, email, and 24/5 live chat.
Office – Level 22, 120 Albert Street, Auckland 1010, New Zealand
Email – support@blackbullmarkets.com
Telephone – (+64) 9 558 5142
Security
All transmitted data on the platforms at BlackBull Markets is encrypted via a secure SSL connection. All client transactions are also managed within the secure client portal.
BlackBull Markets Verdict
Our review of BlackBull Markets has uncovered some good reasons to open a live account, including the competitive spreads and a wide choice of platforms and tools. We also liked the selection of deposit and withdrawal options. However, it would be nice to see negative balance protection offered as an added element of safety and regulation.
Accepted Countries
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.
Alternatives to BlackBull Markets
If you are looking for alternatives to BlackBull Markets we have compiled a list of the top 5 brokers that are similar to BlackBull Markets below. This list of brokers like BlackBull Markets is in order of similarity and only includes companies that accept traders from your location.
FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.
Infinox – Infinox is a UK-based broker offering MT4 trading with tight spreads.
OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
RoboForex – RoboForex is a multi-asset online broker offering powerful trading aides.
Vantage – Reliable and affordable trading since 2009. Join over 900,000 others trading on 400+ CFD products over assets like forex, gold, indices, cryptocurrency and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
FAQ
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. Once you’ve submitted your ID verification, you’ll 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 deals.
What is the margin call and stop out level at 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.