Broker Details
Payment Method : Credit Card, e-wallets like Skrill, Neteller and FasaPay, Bank wires
Table of Contents
BlackBull Markets Review
BlackBull Markets began its operation back in 2014 through Auckland New Zealand and combines years of Institutional Forex experience with the focus on resource offering to retail traders. Ever since the broker enables multiple trading solutions as a financial services provider with proprietary software to aggregate powerful trading performance along with competitive pricing.
Also, BlackBull Markets was founded as a prime broker also offering retail trading solutions and maintaining its traducing facilitates within world trading centers including London, UK, and Malaysia in reverse bringing global exposure. Numerous possibilities include diverse conditions, and assets to trade, supported by the learning materials and programs for active traders.
Apart from the various solutions for retail traders, there are also professional services for an institutional accounts, and money managers along with MAM and PAMM accounts.
BlackBull Markets Licenses
- Black Bull Group Limited – authorized by FMA (New Zealand) registration no. FSP403326
- BBG Limited – authorized by FSA (Mauritius)
Blackbull Markets Regulation and Security
Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. BlackBull Markets presents clients with two well-regulated subsidiaries.
The primary regulator of BlackBull Markets is the New Zealand Financial Markets Authority (FMA). It also maintains a subsidiary, BBG Limited, authorized by the Seychelles Financial Services Authority (FSA). BlackBull Group UK Limited provides payment clearing services.
Country of the Regulator | Name of the Regulator | Regulatory License Number |
New Zealand | Financial Markets Authority | FSP403326 |
Seychelles | Financial Services Authority | SD045 |
All client deposits remain segregated from corporate funds, and the custodian bank is the ANZ Bank. BlackBull Markets is also a member of the New Zealand Financial Services Complaints Limited (FSCL) dispute resolution scheme.
The one thing I could not find, which left me disappointed, was a reference to negative balance protection. It appears that BlackBull Markets does not offer it, making highly leveraged trading an especially high-risk approach with this broker. I searched their legal documents, but none confirmed the existence of negative balance protection. However, from a regulatory perspective, I can strongly recommend this broker. From a security perspective, client deposits remain well-protected, but I cannot ignore the absence of negative balance protection, particularly for leveraged trading accounts.
BlackBull Markets is a well-regulated and compliant Forex broker.
What Can I Trade
BlackBull Markets offers traders an excellent asset selection, placing it in the Top 5 brokers in the industry. Forex traders get 60+ currency pairs, but the bulk consists of 23,000+ equity CFD and the underlying asset for direct share dealing from 80+ global stock exchanges. It results in a broad-based choice of trading instruments ideal for demanding asset managers and long-term dividend income-generating portfolios. BlackBull Markets has also added cryptocurrency CFDs, and the only asset class not offered is ETFs.
Asset List and Leverage Overview
Blackbull Markets Leverage
BlackBull Markets offers maximum leverage of 1:500 for Forex traders, plus gold and silver. Indices and oil remain capped at 1:100. A three-tier system exists, lowering it to 1:200 above 0.50 lots and 1:100 above 1 lot.
Opening an Account
Opening an account at BlackBull Markets is acceptably quick and follows the normal standard in the retail Forex industry. I found some of the additional questions unnecessary, as traders can fill them out as they wish, and there is no verification of the answers. BlackBull Markets includes the account verification with the account opening form, which I like, as it is a requirement and saves traders the extra step from the back office. New traders must submit a copy of their ID and a proof of residency document dated within the past three months.
BlackBull Markets follows well-established industry practices for onboarding new traders
Payment Methods
Traders may deposit into their BlackBull Markets trading accounts via bank wires, credit/debit cards, Skrill, Neteller, China Union Pay and FasaPay.
BlackBull also allows deposits to be made in the following cryptocurrencies:
- Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Tether, Stellar, Ripple, Chainlink, USD Coin
Blackbull Markets Deposits and Withdrawals
I appreciate the flexibility at BlackBull Markets for deposits, as after the initial deposit, follow-on amounts remain at the discretion of traders. Another positive is that traders may deposit in nine currencies, but not all deposit methods support each of them. I do not like the $5 withdrawal fee, which most brokers do not charge. BlackBull Markets process all withdrawal requests within 24 hours, and the back office handles all financial transactions from an easy-to-use interface.
BlackBull allows traders to deposit any amount they wish following the initial minimum deposit.
Bottom Line
I like the trading experience at BlackBull Markets due to its competitive cost structure and excellent trade execution. BlackBull Markets also supports API trading and offers VPS hosting, making it ideal for advanced algorithmic trading. The asset selection, especially for equity traders, ranks among the top 5 brokers within the retail Forex/CFD industry. The minimum deposit for the ECN Prime account of $2,000 is a bit high but remains acceptable. Overall, the core trading environment is outstanding, and I rank BlackBull Markets as a leading choice for demanding equity traders, asset managers, and Forex traders.
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