BlackBull

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AspectDetails
broker popularity top broker high popularity best reviews benchmark
Leverage1:500
Minimum Deposit$0
Year Established2014
RegulationFinancial Markets Authority (FMA)
Payment methodsSkrill, Visa/Mastercard, Bank Wire
Publicly Traded
Employees<25
Type of BrokerForex Broker
MT4
MT5
Trading AssetsForex, U.S. Stocks, International Stocks, Cryptocurrency (Derivative)
Demo Account
Islamic Account
CopyTrading
Signals
Deposit Fee
Withdrawal Fee
Rating★★★★ 4.4
Offers Official Website

Alternative Brokers

Pros and Cons

Pros
  • Diverse Range of Account Types: Catering to various trader preferences.
  • Competitive Spreads and Fee Structures.
  • Extensive Offering of Over 26,000 Tradable Symbols.
  • Access to MetaTrader 4 and MetaTrader 5 Platforms: For desktop and mobile trading.
  • Support for Social Copy Trading: With platforms like ZuluTrade and MyFxbook.
Cons
  • Limited Educational Resources: Compared to top brokers.
  • Relatively Small Number of Regulatory Licenses.
  • No Proprietary Mobile App Available.
  • Research Coverage: While expanding, still trails behind industry leaders.
  • Standard Account May Have Higher Spreads: Compared to ECN Prime.

Introduction

BlackBull, established in 2014, emerges as a prominent player in the forex and CFD brokerage space, headquartered in New Zealand.

Recognized for its commitment to transparency and client-centric services, the broker has gained traction among traders seeking diverse and accessible trading options.

With a comprehensive range of account types, including the Standard, ECN Prime, and ECN Institutional accounts, the broker caters to a wide spectrum of traders, from beginners to seasoned professionals.

Offering competitive spreads, plenty of tradable instruments, and a commitment to technological advancements, BlackBull aims to provide a robust and user-friendly trading environment.

In this overview, we delve into the key features, account types, fee structures, and overall offerings that make this broker a notable choice in the ever-evolving world of online trading.

Is BlackBull Markets Safe?

At Brokfolio we have rated BlackBull Markets as Average Risk with an overall Trust Score of 82 out of 100.

The broker is not publicly traded, does not operate a bank, and is authorized by one Tier-1 regulator (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk).

BlackBull Markets is authorized by the Financial Markets Authority (FMA).

Official Website: www.blackbull.com

Overview

BlackBull Markets stands out as a dynamic and versatile trading platform, offering a range of account types to accommodate various trading styles and preferences.

With its Standard, ECN Prime, and ECN Institutional accounts, the broker caters to a diverse clientele, providing flexibility and choices to traders at different levels of expertise.

The Standard account, with no minimum deposit, appeals to those starting their trading journey, while the ECN Prime and ECN Institutional accounts target more experienced and institutional traders with their competitive spreads and potential discounts for active or VIP traders.

This diverse account structure, coupled with the broker’s commitment to transparency and cost-effectiveness, positions BlackBull as a valuable option for traders seeking a tailored and efficient trading experience.

Offering of Investments

BlackBull Markets has expanded its markets with BlackBull Shares, offering over 26,000 tradable symbols.

Cryptocurrency trading is available through CFDs, but not for trading the underlying asset.

  • Forex Trading (Spot or CFDs): Yes.
  • Tradeable Symbols (Total): 26,000.
  • Forex Pairs (Total): 72.
  • U.S. Stock Trading (Non CFD): Yes.
  • Int’l Stock Trading (Non CFD): Yes.
  • Social Trading / Copy Trading: Yes.
  • Cryptocurrency (Physical): No.
  • Cryptocurrency (Derivative): Yes.

Types of Accounts

BlackBull Markets prides itself on providing trading solutions that cater to a diverse range of traders, and this is reflected in its account offerings.

The broker presents three distinct account types – Standard, ECN Prime, and ECN Institutional – each tailored to meet specific trading preferences and requirements.

Standard Account

  • Minimum Deposit: $0.
  • Average Spread EUR/USD: 0.827 (indicating the cost of trading this popular currency pair).
  • Active Trader or VIP Discounts: Yes (highlighting the potential for reduced costs for frequent or VIP traders).

The Standard account is designed for traders who prefer a commission-free structure and want to get started without a minimum deposit requirement.

It offers a competitive average spread on major currency pairs, making it an accessible choice for those starting in the trading world.

ECN Prime Account

  • Minimum Deposit: $2,000.
  • All-in Cost EUR/USD – Active: 0.827 (reflecting the comprehensive expense, including spreads and commissions).
  • Active Trader or VIP Discounts: Yes (indicating potential benefits for high-volume or VIP traders).

The ECN Prime account is ideal for traders seeking tighter spreads and are willing to commit to a minimum deposit.

While there is a commission associated with trades, the overall cost, considering both spread and commission, remains competitive, especially for those actively involved in trading.

ECN Institutional Account

  • Minimum Deposit: $20,000.
  • All-in Cost EUR/USD – Active: Customized (as commission rates are negotiated individually).
  • Active Trader or VIP Discounts: Yes (showcasing exclusive benefits for high-volume or VIP traders).

The ECN Institutional account caters to professional and institutional traders with specific needs.

The minimum deposit requirement is higher, but in return, traders gain access to personalized commission rates and potentially lower overall trading costs.

Create Account

Mobile Trading Apps

BlackBull lacks a proprietary mobile app.

The broker supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on iOS and Android.

  • Android App: Yes.
  • Apple iOS App: Yes.
  • Mobile Alerts – Basic Fields: Yes.
  • Watchlists – Total Fields: 7.
  • Watchlist Syncing: Yes.
  • Charting – Indicators / Studies (Total): 30.

Other Trading Platforms

The broker offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), BlackBull Shares, and TradingView.

The broker supports social copy trading via ZuluTrade and MyFxbook.

  • Virtual Trading (Demo): Yes.
  • Proprietary Platform: No.
  • Desktop Platform (Windows): Yes.
  • Web Platform: Yes.
  • Social Trading / Copy Trading: Yes.
  • MetaTrader 4 (MT4): Yes.
  • MetaTrader 5 (MT5): Yes.
  • ZuluTrade: Yes.

Market Research

BlackBull Markets enhanced its research with the acquisition of ATM Strategy.

The broker provides daily technical and fundamental analysis.

  • Daily Market Commentary: Yes.
  • Forex News (Top-Tier Sources): No.
  • Autochartist: Yes.

Education

BlackBull Markets’ educational offering includes themed articles, videos, and an Education Hub.

While it has improved, further enhancements could be beneficial.

  • Education (Forex or CFDs): Yes.
  • Client Webinars: Yes.
  • Client Webinars (Archived): Yes.
  • Videos – Beginner Trading Videos: Yes.
  • Videos – Advanced Trading Videos: Yes.

Final Thoughts

In conclusion, BlackBull stands as a maturing forex and CFD broker, having made notable strides in enhancing its offerings over nearly a decade of operation.

The broker has earned a Trust Score of 82 out of 100, reflecting its position as an average-risk choice for traders.

While holding authorization from the Financial Markets Authority (FMA) in New Zealand, it is important to note the relatively limited number of regulatory licenses compared to some competitors.

BlackBull Markets boasts an expansive range of tradable symbols, including over 26,000 across various platforms.

Its trading costs are deemed average, with variations based on the chosen account type.

The Standard, ECN Prime, and ECN Institutional accounts cater to different trading preferences.

Notably, the broker offers a $0 minimum deposit for the Standard account, making it accessible to a broad range of traders.

The availability of MetaTrader 4, MetaTrader 5, and its proprietary BlackBull Shares platform, along with support for social copy trading tools, enhances the overall trading experience.

However, BlackBull Markets faces some areas of improvement, particularly in education and research offerings, where it lags leading brokers.

The broker has demonstrated commitment to growth, as evidenced by the recent acquisition of research firm ATM Strategy and a growing product range.

While challenges exist, the broker’s continued efforts to secure additional regulatory licenses and enhance its educational resources could contribute to an improved competitive standing in the market.

Traders considering opening an account should weigh its strengths in diverse tradable instruments, competitive spreads, and accessible minimum deposit against areas that may require further development.

Overall, BlackBull Markets remains a broker to watch, especially if it continues to address existing limitations and build upon its positive momentum in the industry.

Visit BlackBull

Frequently Asked Questions

Is it a regulated broker?
Yes, BlackBull Markets is authorized by the Financial Markets Authority (FMA) in New Zealand.
What account types does it offer?
BlackBull Markets offers the Standard, ECN Prime, and ECN Institutional accounts.
What is the minimum deposit requirement?
The minimum deposit is $0 for the Standard account.
Are there VIP discounts for active traders?
Yes, BlackBull Markets offers VIP discounts for active traders.
Which trading platforms are available?
BlackBull Markets provides MetaTrader 4, MetaTrader 5, and its own BlackBull Shares platform.
Can I trade cryptocurrencies?
Yes, cryptocurrency trading is available through CFD.
What are the average spreads for EUR/USD?
The average spread for EUR/USD in the Standard account is 0.627.
Does BlackBull Markets have a proprietary mobile app?
No, the broker relies on MetaTrader 4 and MetaTrader 5 mobile apps.
Is there a minimum deposit for VIP accounts?
Yes, the ECN Prime account requires a minimum deposit of $2,000.
What educational resources does it offer?
The broker provides an Education Hub with articles and video content for traders of different experience levels.

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Last updated: June 11, 2024