BlackBull Markets offers a good variety of social trading sources like ZuluTrade or MyFXBook. This means that you can trade using micro lots, equivalent to 1,000 units of the base currency, which is the same as trading with a 0.01 lot size. In this article, you’ll get a review of this broker, including analysis and instructions to open an account with BlackBull Markets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. BlackBull Markets is a very well-known broker that facilitates the day-to-day financial transactions of over 10,000 of clients worldwide.

Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises xcritical companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). Founded in 2014, BlackBull Markets is a forex and CFD broker headquartered in New Zealand. The broker has been fully authorized by the Financial Markets Authority (FMA) in New Zealand since 2020, and registered on the Financial Services Provider Register (FSPR) since the end of 2014. The BlackBull Markets brand also holds a license in the offshore island nation of Seychelles with the Financial Services Authority (FSA). In May 2023, BlackBull Markets received an investment from Milford Asset Management, a prominent private equity firm in New Zealand, which included the appointment of an independent Chairman.

1. Key to our methodology is the emphasis on platform features, trading costs, and execution speeds.
2. On the plus side, once traders withdraw their deposit amount to credit/debit cards, they may select any available payment processors and not only bank wires, as many brokers demand.
3. Some of cTrader’s basic technical features are 55+ technical indicators, 28 timeframes, 6 chart types, level 2 DoM and no stop/limit level restrictions.
4. Before you actually take the money out of your BlackBull Markets account, there are a few things you need to take into consideration first.
5. The secure client portal, where traders make withdrawal requests, will list all supported methods.

How Do The BlackBull Markets Compare Against Other Brokers?

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 xcritical deposits remain well-protected, but I cannot ignore the absence of negative balance protection, particularly for leveraged trading accounts.

BlackBull Markets Withdrawal Costs

The MT4/MT5 platforms are highly reliable trading technology with compelling features like fully customizable charting options, multiple order types and advanced analytical capabilities. Both have built-in copy trading systems and support one-click trading, algo or automated trading through Expert Advisors (EAs), trading from the charts and trailing stops. They’re available on tablets, mobile devices (Android and iOS) and desktops (Windows or Mac).

Although TradingView is a browser-native platform, it is available for mobile devices such as iOS and Android. The minimum deposit for the BlackBull Markets ECN Standard account is $0, for the ECN Prime $2,000, and for the Institutional one $20,000. While the minimum deposit for ECN Prime remains higher than some competitive brokers, I found them justifiable by cost and services provided and, therefore, acceptable and an excellent value for deposit requirement. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.

No minimum deposit is required to open an ECN Standard Account, while a $2,000 deposit is needed to open an ECN Prime Account and $20,000 for an ECN Institutional Account. A popular choice for its user-friendly interface, MT4 features advanced charting tools, automated trading with Expert Advisors, and a wide range of technical indicators. BlackBull Markets provides three account types with distinct pricing structures. Our broker reviews are reader supported and we may receive payment when you click on a partner site.

He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Trading costs at BlackBull Markets are about average for the industry, and will vary depending on which of its three account types you choose. No, there are a few brokers regulated by the Financial Markets Authority (FMA) which is the oversite for financial markets in New Zealand. For self-help resources, their website features a comprehensive FAQ and glossary section, offering detailed information about forex and CFD trading and the broker’s specific services. In our 2024 testing, BlackBull Markets not only outperformed industry standards but also emerged as the broker with the fastest execution speed among all those tested. They achieved an average limit order speed of 72 milliseconds, which is 44.6% faster than the industry average of 130 milliseconds.

How does BlackBull Markets make money?

The broker facilitates social trading via additional tools like ZuluTrade and Myfxbook. BlackBull Markets also offers a free demo account that mimics live trading conditions but with a demo balance between $5,000 and $100,000 to help traders build confidence before trading live markets. 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.

They are usually as low as $1, while maximum daily and monthly limits may apply. BlackBull Markets offers an impressive selection of trading tools to enhance clients’ trading experience. For instance, the free VPS provides automated data backup, reducing slippage and latency by 30%. This VPS is provided by ForexVPS, with servers near relevant exchanges in New York, London and Japan to optimize execution speed and reliability. However, to enjoy the VPS service, a minimum deposit of $2,000 and monthly trading of 20 lots across forex pairs or metals are required.

This reduction is vital for strategies like scalping and automated trading, as it minimises slippage risks and ensures accurate trade execution. Ideal for technical analysis enthusiasts, TradingView combines powerful charting with a social networking aspect, allowing traders to share and discuss trading ideas. This is a swap-free account designed for Islamic traders who are prohibited from paying or receiving interest. Provided you can prove you are of Islamic faith, you will be able to use this pricing structure with any of the Standard, Prime, or Institutional account types. When trading BlackBull Markets forex currency pairs, your lot sizes start at 0.01 and can go up to 100. There’s also no minimum deposit needed to start copy trading their signal providers.

Trading Conditions

However, despite its multi-channel customer support and impressive awards, the broker has an average Trustpilot rating of 3.4/5 with various negative comments. Whether this reflects the broker’s overall customer service or indicates a few dissatisfied customers is not entirely clear. BlackBull Markets accepts deposits by bank wires, credit/debit cards, Skrill, Neteller, Union Pay, FasaPay, and selected cryptocurrencies. BlackBull Markets makes money from spreads, commissions, and swap rates on leveraged overnight positions. BlackBull Markets answers some questions in its FAQ section and describes its products and services well.

BlackBull Markets is a multiple award-winning New Zealand-based forex and contract for difference (CFD) broker with over 26,000 tradable instruments, including equities, cryptocurrencies, indices and commodities. CFD trading lets you profit from rising and falling markets by entering into contracts with a broker to exchange the difference in an asset’s value between the opening and closing of the trade. Regrettably, BlackBull Markets limits its demo account to just 30 days, and it is only available on the MT4 trading platform. While the trading conditions are not identical to a live one, BlackBull Markets should allow for longer than 30 days. 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.

The available choices include the globally recognized MetaTrader suites — MT4/MT5, cTrader and the TradingView platform renowned for its charting capability. The BlackBull CopyTrader and BlackBull Trade are the broker’s in-house platforms. BlackBull Markets lives up to its hype as a well-established and globally renowned ECN broker. The firm xcriticals comprehensive tradable assets with robust trading technology, unparalleled tools and exceptional educational resources. BlackBull Markets has no minimum deposit requirement for its ECN Standard account, $2,000 for ECN Prime, and $20,000 for ECN Institutional. BlackBull allows traders to deposit any amount they wish following the initial minimum deposit.

Requesting a Cancellation of an BlackBull Markets Withdrawal

It is the most globally renowned retail trading platform, featuring 50+ trading indicators, 9 timeframes, 24 analytical charting tools and 3 chart types. BlackBull Markets grants traders access to a broad spectrum of financial markets via CFD trading, xcritical scammers enabling traders to explore diverse investment opportunities. Its 26,000+ tradable instruments, including currency pairs, major market indices, equities, cryptocurrencies and commodities, positions it among the top five CFD brokers. I like that BlackBull Markets offers the FIX API, allowing algorithmic traders to connect advanced trading solutions.