Blackbull Markets Review

In $7.5 trillion forex trading per day, where every second counts and precision is paramount, BlackBull Markets emerges as a trusted name in the currency trading due to the blend of speed, reliability, and transparency. With a focus on speed and precision, this FinTech firm offers traders a promise of efficient ECN/NDD execution and access to deep liquidity through the popular MT4/MT5 trading platforms.

But amidst all the promises, we are here to cut through the noise and find out if BlackBull Markets truly delivers on its commitments. Can it really provide the kind of top-tier pricing and trading experience it boasts about?

Take a closer look at this BlackBull Markets review and see what is has to offer.

Blackbull Markets

Blackbull Markets open account

BlackBull Markets Review: Pros & Cons

Pros

  • Available in New Zealand: Unlike some brokers that lack proper licensing, BlackBull Markets is fully available to residents of New Zealand, thanks to its FMA license.
  • MetaTrader Support: Whether you prefer MetaTrader 4 or MetaTrader 5, BlackBull Markets has got you covered, offering both platforms.
  • Third-Party Tools: Access a range of handy trading tools from trusted providers like Autochartist and Acuity, enhancing your trading experience.
  • Numerous Investment Options: It has a wide range of investment options.
  • Copy Trading Support: Take advantage of multiple copy trading platforms like ZuluTrade, Duplitrade, and Myfxbook to follow successful traders effortlessly.
  • TradingView Integration: Seamlessly integrate with the TradingView web platform, and provide added flexibility and convenience for traders.
  • Diverse Tradable Assets: With BlackBull Shares, access over 26,000 symbols for trading, expanding your options and opportunities.
  • CopyTrader Web Platform: The newly launched BlackBull CopyTrader web platform enhances the social copy trading experience, making it easier to follow and replicate successful strategies.
  • Private Equity Investment: Recent investment from Milford Private Equity Fund III LP signifies confidence in BlackBull Markets’ future, strengthening its position in the New Zealand market.

Cons

  • Limited Regulatory Coverage: While licensed in New Zealand, BlackBull lacks additional Tier-1 regulatory licenses outside the country, potentially raising concerns for some traders.
  • Educational Content Scope: The educational resources provided by BlackBull are relatively narrow, falling short of the comprehensive offerings found with top MetaTrader brokers.
  • Average Commissions and Fees: Based on our findings, commissions and fees at BlackBull Markets seem to align with industry averages, potentially leaving some traders seeking lower costs elsewhere.

BlackBull Markets Review Offering of Investments

Blackbull Markets open account

BlackBull Markets Review: Offering of Investments

BlackBull Markets offers wide array of investment options waiting for you, including forex, equities, commodities, futures and indices. This means they have expanded their offerings, giving you more than 26,000 symbols to trade with. Among these, you can find around 2,500 symbols on platforms like MetaTrader 5 and TradingView, and about 311 symbols on MetaTrader 4.

Additionally, you can also invest on cryptocurrencies. They offer CFDs on cryptos. Basically, you are not buying the actual cryptocurrency like Bitcoin, but you are trading on its price movements. Just a heads-up though, if you are in the U.K., this option might not be available for retail traders or residents.

Blackbull Markets open account

BlackBull Markets Commissions and Fees

Understanding the costs of trading is crucial when choosing a brokerage, and BlackBull Markets is no exception. Let’s break down the commission and fees you might encounter with BlackBull Markets, bearing in mind that these can vary based on the type of account you choose.

Spreads

In October 2021, the Standard account at BlackBull Markets had an average spread of approximately 1.25 pips. However, if you opt for the ECN Prime account, which is often preferred for its lower costs, the spread tends to be narrower. Once you consider the commission (which is about equivalent to around 0.6 pips per trade) on the ECN Prime account, the effective average spread for popular currency pairs such as EUR/USD decreases significantly.

Account Comparison

BlackBull Markets offers three main types of accounts, each with its own fee structure.

  • Standard Account: This account type doesn’t charge any commissions and doesn’t have a minimum deposit requirement. However, keep in mind that the spreads may be wider compared to other account types.
  • ECN Prime Account: If you are looking for tighter spreads, the ECN Prime account might be your go-to choice. Although it requires a minimum deposit of $2,000, the spreads are typically lower. There is also a commission fee of $3 per side or $6 per lot for each round trip.
  • ECN Institutional Account: This is BlackBull Markets’ high-tier account, offered for active traders who deposit a minimum of $20,000. Commission rates for this account type are negotiated individually with the broker, offering a more personalized approach to fees.

While BlackBull Markets’ trading costs fall within the industry average, the specific fees you encounter will depend on the type of account you choose and your trading preferences. It’s essential to weigh the costs against the benefits offered by each account type to find the best fit for your trading style and financial goals.

BlackBull Markets Platform Features

Blackbull Markets open account

BlackBull Markets Platform Features

BlackBull Markets gives access to a suite of powerful tools and platforms designed to enhance their trading experience. Let’s delve into the platform features offered by BlackBull Markets.

MT4/MT5 Trading Platforms

BlackBull Markets offers traders the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. Known for their easy-to-use interfaces and powerful features, both MT4 and MT5 cater to traders of all levels. Whether you’re just starting out or you’re an experienced trader, these platforms provide the tools necessary to trade confidently.

Autochartist Plugin

For those who prefer a more hands-off approach to trading, BlackBull Markets offers the Autochartist plugin. This powerful tool assists manual traders by automatically recognizing chart patterns and trading setups. With Autochartist, traders can stay informed about potential trading opportunities without having to spend hours analyzing charts.

TradingView Integration

In addition to MetaTrader platforms, BlackBull Markets also integrates seamlessly with TradingView. It stands out as a well-liked independent platform recognized for its advanced charting features and lively trading community.

By connecting your BlackBull Markets account to TradingView, you can access a wealth of trading ideas and analysis from over 30 million traders worldwide.

FIX API Support

For algorithmic traders looking for advanced trading solutions, BlackBull Markets offers support for the FIX API. This allows traders to connect their algorithms directly to the market, enabling faster execution and greater control over their trades.

Free VPS Hosting

ECN Prime account holders with a trading volume exceeding 20 lots can take advantage of free VPS hosting provided by NYC Servers or BeeksFX. This offer ensures that traders can maintain optimal connectivity and execution speed, even during times of high market activity.

Social Trading Support

BlackBull Markets embraces social trading, allowing clients to connect with leading social trading platforms such as ZuluTrade, Myfxbook Autotrade, and newcomer HokoCloud. Through social trading, traders have the opportunity to follow and replicate the strategies of successful traders, which could potentially improve their own trading performance.

Blackbull Markets open account

BlackBull Markets Broker Review: Research Features

BlackBull Markets has been stepping up its game in the research department, recently acquiring the research firm ATM Strategy. While they’re making progress, they’re still not quite at the top compared to other forex and CFD brokers.

Daily Analysis

Every day, BlackBull Markets releases a series of reports that analyze both the technical and fundamental aspects of specific trading symbols. For instance, they have the “Trade in 60 Seconds” series, which are quick one-minute recordings focusing on a specific trading symbol, like a forex pair or a CFD.

Market News and Analysis

BlackBull Markets offers Market Reviews articles and a selection of videos created by their own team. These analyses offer thorough insights from both technical and fundamental viewpoints. Nonetheless, it appears that there could be a greater volume of daily content to ensure traders remain informed and engaged.

Live Streams and Expansion

One thing that could really improve BlackBull Markets’ research offerings is bringing back live streams. These could provide real-time insights and discussions, adding another layer of depth to their research. Additionally, expanding their daily content could help keep traders up-to-date with the latest market developments and trends.

Blackbull Markets open account

BlackBull Markets Review: Education

BlackBull Markets has been making strides in enhancing its educational resources, particularly through its Education Hub. This section of the BlackBull website is solely dedicated to trader education, offering a variety of resources to help traders learn and grow.

Recently, BlackBull Markets has expanded its collection of articles, covering a wide range of topics organized by experience level. Whether you are a beginner or more advanced trader, you can find valuable information to help you navigate the markets.

In addition to written articles, BlackBull Markets has also increased its offering of educational video content. These videos cover various topics and are available on their YouTube channel. Some notable playlists include the Elliot Wave Theory series and the Whiteboard Wizards playlist, which provide valuable insights and explanations.

Customer Support

At BlackBull Markets, getting assistance when you need it is a breeze. They offer customer support 24/7 through live chat, which we think is super handy. If you prefer talking on the phone, they have got a toll-free number for folks in New Zealand, plus nine different email addresses, including one for Chinese support. We really like that BlackBull Markets lays it all out there with detailed contact info, showing they are transparent and ready to assist. Even though their FAQ section covers a lot of common questions, they have got your back in case of emergencies too. So, whether you have got a quick query or need help quickly, BlackBull Markets has a customer service rep ready to lend a hand.

Blackbull Markets Bonuses

Although BlackBull Markets doesn’t offer bonuses like some other brokers, it does have something cool called the Active Trader Account. This special account is for traders who are really active, and it comes with perks like lower commissions and free VPS hosting. Even though they don’t offer bonuses to new traders, I don’t see it as a downside because BlackBull Markets already offers top-notch trading tools and fair costs. So, while you won’t get a bonus upfront, you can still enjoy some sweet rewards if you are a frequent trader.

Blackbull Markets Deposits & Withdrawals

BlackBull Markets offers some flexibility when it comes to deposits, which we find pretty cool. Once you have made your initial deposit, you can choose how much you want to add later on. You have got the option to deposit in nine different currencies, which is neat, although not all deposit methods support every currency. One thing that bugs us a bit is the $5 withdrawal fee, which most other brokers don’t charge. 

However, the good thing is that BlackBull Markets processes all withdrawal requests within 24 hours, and their back office makes handling financial transactions super easy with a user-friendly interface. Keep in mind, though, that if you want to withdraw more than you deposited using payment processors, you will need to transfer the funds directly to your bank account.

Blackbull Markets Deposits & Withdrawals

Blackbull Markets open account

Final Words

Our BlackBull Markets review found that, this broker can be a standout choice for traders looking for a solid trading experience. With competitive costs and top-notch trade execution, it’s hard to beat. Additionally, they have got support for API trading and offer VPS hosting, which is great for folks who want to get into more advanced algorithmic trading. Their selection of assets, especially for equity traders, is right up there with the best in the industry. While the minimum deposit for their ECN Prime account might be a tad high at $2,000, it is still reasonable considering the quality of service you get. Overall, we would say BlackBull Markets is definitely worth considering for serious equity traders, asset managers, and forex traders alike.

No Bonus

BlackBull Markets, established in 2014 in New Zealand, is a reputable online trading broker offering Forex, commodities, indices, and stocks. Recognized for its technological innovation and client-centric approach, it provides a robust trading infrastructure with ECN (Electronic Communication Network) execution, ensuring tight spreads and high-speed trade execution.