BlackBull Markets Review: Is It Reliable and Trustworthy?

BlackBull Markets is a highly-rated broker that is considered reliable and trustworthy. But are these claims valid? Find out in this detailed BlackBull Markets review.

Research is essential before making any financial decision is made. The same rule applies here; the broker’s background and track record has to be checked.

I’ll be examining BlackBull Markets and hopefully help to make an informed decision. The following will be discussed in this BlackBull Markets review:

• My Findings on BlackBull Markets and their Services
• My Personal Trading Experience with BlackBull Markets
• Demo Trading on BlackBull Markets
• BlackBull Markets FAQs
• BlackBull Markets Alternatives

Is Blackbull Markets Regulated?

Blackbull Markets was founded in 2014 and regulated in New Zealand by the Financial Markets Authority (FMA).

Financial Markets Authority (FMA) is New Zealand’s authority for financial markets.

Furthermore, regulated brokers are forced to look out for their client’s well-being; the same applies here.

Therefore, the client’s funds are placed in a different account from the company’s funds for operations, and a strict anti-laundry policy has been placed.

To ensure safety and smooth transactions, they operate an NDD system (No Dealing Desk), which means they get unfiltered access to interbank market exchange rates and make everything run smoothly.

Perks of BlackBull Markets Being Regulated

BlackBull Markets provides the same service expected from every broker. Customer service responds swiftly to protect the interests of customers.

Most importantly, regulated brokers are inclined to provide client fund protection in the advent of the company’s liquidation.

My Findings

BlackBull Markets came onto the scene in 2014 and has slowly made a name for themselves; most of their client base is in Canada and the United Kingdom (UK).

My first impression of the broker wasn’t great at all. I could barely complete the sign-up process; the site is highly unresponsive.

Additionally, there’s an astonishing number of 26,000+ pairs, so there’s more than enough variety here.

They operate with an NDD system (No Dealing Desk), which means they get unfiltered access to interbank market exchange rates, making trading smooth.

Nevertheless, these are just the tip of the iceberg; more will be revealed below in this Blackbull markets review.

Account Types

There are three major types of accounts provided by this broker: Standard ECN, ECN Prime, and ECN institutional.

Each of these accounts has different features that make them lucrative and swap-free counterparts for Islamic clients.

All accounts are ECN by default, and the account balances can be in the following currencies: USD, EUR, GBP, AUD, NZD, SGD, CAD, and SRY.

BlackBull Markets’ Spread

BlackBull Markets offer raw spreads on their institutional account while spreads start from 0.8 pips on their standard accounts.

Lastly, spreads start from 0.1 pips on their prime account.

Leverage

There’s a wide range of leverage options available – and they are 1:10, 1:33, 1:50, 1:100, 1:100, 1:200, 1:300, 1:400, and 1:500

Lot Sizes

The minimum tradeable lot size on the standard and institutional accounts is 0.01, while the minimum on the prime account is 0.1 lot.

Besides the aforementioned, lot sizes also vary depending on the account type.

BlackBull Markets’ Minimum Deposit

First, on the standard account, the minimum deposit is $0, which means there’s no limit to how little you can go.

Meanwhile, on the Prime and Institutional accounts, the minimum deposit is $2,000 and $20,000, respectively.

In the worst-case scenario, all payment methods guarantee a 24-hour window for processing deposits and withdrawals.

Trading Platform(s)

The propriety trading platform to be used is either Metatrader 4 or 5. Alternatively, a mobile app is available for download on Android and iOS. On this platform, trades can be placed and orders modified.

Another trading tool available to use is “Autochartist.” The software program uses AI to determine forex chart patterns using various technical indicators. This program runs all day and sends these free forex signals directly to your device.

Also, if your default charting platform is Tradingview, BlackBull Markets accounts can be linked so trades can be placed right on there.

Lastly, copy trading is available here through third-party applications like Zulutrade, Duplitrade, and Myfxbook.

Education

This is one area in which this broker needs to catch up. Of course, there are a lot of positives here, like the option for more advanced courses on forex, crypto, commodities, stocks, and platform tutorials.

Additionally, content is available on YouTube or Spotify as a podcast; however, the videos on YouTube could be longer and more informative.

But the standout here remains the different choices available: articles on market analysis and breakdowns, e-books, YouTube videos and podcasts, etc.

Blackbull Markets’ Customer Support

Customer support is decent, as expected of a regulated broker. They can be contacted via email at support@blackbullmarkets.com, or a call can be placed at +64 9 558 5142. 

Expert Opinion on BlackBull Markets’ Services

Genuinely, what’s not to like about BlackBull Markets? This is a regulated broker with policies that are in the best interest of traders.

Plus, there is a wide array of deposit methods coupled with low trading fees and lightning-speed transactions (ECN broker).

My Personal Experience on BlackBull Markets

In my experience, at least, my time with BlackBull Markets was frustrating. The web portal has a lot of bugs, so I couldn’t even access their “glorified” services.

Although there’s a lot of potential here, if a user’s experience isn’t smooth, they have no reason to stick around.

Trading With BlackBull Markets

There are 26,000+ trading instruments accessible to all traders regardless of account type. Furthermore, accounts with no spread or commission can be opened depending on your preference.

The average fee paid per lot is around $4-6 without considering swap fees. Alternatively, swap-free accounts that comply with Islamic laws are also available.

Demo Trading With BlackBull Markets

We fiddled around and tested trading on a few pairs with the USD as the base currency.

As expected, EURUSD had the lowest spread at 0.8 pips while it increased slightly on the other two pairs.

To get the automated robot used to test this broker, click here.

BlackBull Markets Alternatives

Blackbull Markets shines in a lot of categories but majorly struggles in education.

One of the industry-leading providers in research and analytics is Trading Central.

Trading central videos and daily news are provided to brokers in partnership with them.

One of the brokers is called Vantage FX; read our Vantage FX review.

BlackBull Markets Review Summary

This broker has a lot of promise, and the reviews online are promising. But their website barely works well, so these services can’t be accessed seamlessly.

To open an account and complete the verification process was tasking, and the web pages required multiple “refreshes”.