Rating
4.3

Introduction

BlackBull Markets was founded in Auckland, the technology-focused, financial capital of New Zealand. In 2014, BlackBull Markets’ founders decided to collaborate in the equities retail space with the goal of providing clients with the best trading experience.

Whether you are a new or active trader, finding the right online broker is critical. You not only get to save on costs but also gain access to various online trading tools. 

However, to find the right broker for your needs, due diligence is needed. After all, different online brokers are optimized for different types of traders. 

So, in this article, we’re going to look at Blackbull Markets. Basically, this is an award-winning online broker and also a proud sponsor of motorsport champion Tom Alexander. 

Now, you are probably wondering, is this a reliable Forex broker? And is it regulated? Here is our unbiased Blackbull Markets review. 

What is Blackbull Markets? – Company Overview

Essentially, BlackBull Markets is a regulated ECN broker that serves tens of thousands of traders from over 180 countries. The company, which is a leading online Forex broker, was founded in 2014 in Auckland, New Zealand. 

Over the years, the company has become a leading online broker specializing in Forex, CFDs, Commodities, Metals, Indices, and Energies. 

What’s more? The broker provides a range of premium trading tools and over 300 tradable instruments. Consequently, this makes it a suitable trading platform for both new and active traders. 

BlackBull Markets Regulation and Security

Trading with a regulated online broker is recommended. This is because it limits the potential for both fraud and malpractice. 

Now, you will be happy to know that BlackBull Markets is a New Zealand registered and incorporated company. The company is also registered with New Zealand’s Financial Services Provider Registry (FSPR).

However, the primary regulator of this broker is the New Zealand Financial Markets Authority (FMA). Besides, the brokerage is a member of the Financial Services Complaints Limited (FSCL), a scheme for dispute resolution. 

So, overall, we can say that the company is a compliant Forex broker and is also well regulated.  

On the flip side, though, the company does not provide negative balance protection to its clients. Therefore, it may not be wise to conduct highly leveraged trading with this broker. The good thing is that client’s deposits remain well-protected. 

Trading Platforms & Tools of BlackBull Markets

BlackBull Markets provides its clients with two major types of trading platforms, including the MetaTrader 4 and MetaTrader 5. 

1. MetaTrader 4

BlackBull Markets’ MT4 system is highly customizable and user-friendly. On top of that, it is packed with features like interactive charts, technical indicators, instant execution. These features allow you to personalize your trading experience.

What’s more? The broker connects your MT4 system to the NY4 Equinix server that is located on Wall Street. Consequently, this makes the platform more reliable, thereby allowing traders to execute trades as fast as 2-5 milliseconds. 

The best part is that the MT4 platform is compatible with Mac, iPhone, Android, and iPad/ Tablet devices. 

2. MetaTrader 5

With BlackBull Markets’ MT5, the platform is enabled for individual stock trading in addition to the index, commodity, and Forex trading. 

However, compared to the MT4 system, the MT5 boasts faster processing times. It also comes with features like more tradable instruments and indicators, advanced pending order functionality, and the ability to hedge positions. 

Therefore, the platform is sure to give traders a cutting-edge advantage as far as Forex trading is concerned. 

On the flip side, though, this system is only available on Windows devices. So, for Mac and iPhone users, they may have to go with the MT4 platform. 

3. VPS Trading

You will be happy to know that the broker provides you with a VPS trading tool for an enhanced trading experience. The VPS servers are located close to the relevant exchanges. This helps to maximize reliability and execution speed. 

Ideally, the VPS Trading tool helps minimize latency by up to 30% and boasts 99.999% uptime. It also allows for automated data backups and customizable security options. 

The best part? BlackBull Markets offers free VPS services from BeeksFX or NYC Servers to its clients. However, you need to be using a Prime account and have a minimum deposit of $2,000. You also need to have traded at least 20 lots per month. 

4. FIX API Trading

For traders who wish to use their own FIX application, the broker offers a FIX API trading tool. This tool allows traders to bypass the BlackBull MT4 application and connect to the broker’s ECN grid. 

Additionally, you will be happy to know that BlackBull’s FIX API is fully customizable and compatible with any FIX program. On top of that, it allows for lower latency and faster speeds when trading. 

Educational Materials &Trading Resources

For beginner traders, the brokerage provides a tutorial video section. This section has a few basic videos and Trading guides on how to trade. Also, the videos offer an in-depth introduction to Forex trading.

Additionally, the broker usually provides several market reviews articles every week under the market reviews section. A trading glossary is also available. So, whether you are an advanced or beginner trader, you are sure to find the educational materials helpful. 

Customer Support

One thing that clients love most about this brokerage is its great customer service. Their customer support is available 24/ via live chat. 

Additionally, you can contact them via email or telephone. And if you live in New Zealand, they have a toll-free phone number. 

If you want their contact information, you can find it on their website. You might also want to check their FAQ section as it will be helpful. So, overall, we can confidently say that BlackBull Markets’ customer support is top-notch. 

What Account Types Are Available?

BlackBull Markets offers a set of training accounts to suit the requirements of every trader. All the accounts have a minimum lot size of 0.01 and leverage of up to 500:1. These accounts include:

1. ECN Standard

A standard account is perfect for beginner traders and allows access to all the broker’s tradeable instruments. However, to open this type of account, you will need a deposit of only $200.

With this account, there are no commissions, which makes it ideal for new traders. On top of that, it boasts low spread and Micro Lots. You will also be happy to know that you can trade with this account on PC, mobile, Webtrader, and Mac. 

2. ECN Prime

If you are looking to gain an edge in Forex trading, you should consider getting a Prime account. This is because it is designed specifically for experienced traders. 

Besides, the commission is only $6 lot for every 100K you trade. As if that’s not enough, the spreads start at just 0.2 pips. 

However, you will need a minimum deposit of $2,000 to open this account. As a trader, you will also have access to all tradeable instruments and Micro Lots. 

3. ECN Institutional

Are you in search of institutional services and functionality? If yes, BlackBull Markets provide custom accounts to their largest traders. 

Basically, traders can tailor their commission, spreads, and more to suit their trading style. However, the minimum deposit needed to open such an account is 20,000 USD. 

Other features unique to this account type are VPS access, 24/6 technical support, and a customizable MAM/PAMM platform. 

4. Islamic Account

Islamic law does not allow its members to pay or even receive interest. For this reason, this brokerage has a swap-free account that is sharia law compliance. 

However, this account is only available as a variant for the other accounts. This means that the features are the same depending on what type of account you choose. 

5. Demo Account

Additionally, the broker offers a demo account with $100,000 to get you started. The big downside with this account is that you can only use it for 30 days. This means that you just have a month to practice trading.

The good news is that you can choose the demo balance between $5,000 and $100,000. On top of that, you can choose from a range of MT4 trading platforms. 

How To Open an Account with BlackBull Markets?

The process of opening an account is pretty easy. You start by choosing the type of account for you on the broker’s registration page. Then, fill out your details, including your name on their fast and secure application form.

Next, you will need to provide proof of identity using a national ID/ passport/driver’s license. Proof of residency is also required and can be done via bank statement/ phone bill/ insurance policy/ utility bill. 

After ID verification, you will receive a verification link within the email from the broker. Next, you will wait for your application to be reviewed and approved by the brokerage. 

If it is approved, you can go ahead and fund your account so you can start trading.       

Pros

  • No commissions for Standard Accounts
  • High leverage of up to 1:500 and spreads are tight
  • User-friendly and powerful platform
  • Has a great selection of tradeable instruments
  • Execution speeds are quite fast
  • Regulated, secure and stable
  • You can trade up to 64 currency pairs
  • Provides access to all major world markets         

Cons

  • Does not accept US clients
  • Lacks negative balance protection
  • The asset selection is limited 

Conclusion

Overall, BlackBull Markets seems like a highly trusted broker in the Forex industry. And it’s not just because it has won numerous awards in the past but also for other reasons.

One of these reasons is the fact that the company offers competitive spreads and a wide range of trading platforms and tools. On top of that, it has a great selection of deposit and withdrawal options. 

Therefore, we believe that it can provide a good trading experience for both new and advanced traders.