BlackBull Markets Review

BlackBull Markets Ratings at a Glance

BlackBull Markets lives up to its hype as a well-established and globally renowned ECN broker. The firm blends comprehensive tradable assets with robust trading technology, unparalleled tools and exceptional educational resources. Here's a breakdown of its product offerings.

Investment Products

BlackBull Markets grants traders access to a broad spectrum of financial markets via CFD trading, 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. 

There are over 200 forex pairs covering majors (EUR/USD, GBP/USD, USD/JPY), minors (AUD/CAD, EUR/AUD, GBP/AUD) and exotic pairs (GBP/SGD, USD/ZAR, EUR/TRY). Forex traders can select their preferred trading pairs, benefitting from raw spreads starting from 0.0 pips, competitive leverage of 1:500 and superior average execution speeds of less than 20 milliseconds. If you enjoy commodities trading, BlackBull Markets lets you take advantage of market volatility in these globally essential assets. 

You can trade CFDs in 27 commodities, such as energies (Brent crude, WTI and natural gas), precious metals (gold, silver and copper) and cash crops (soybeans, corn, cotton and coffee). BlackBull's 11 crypto assets comprise popular coins such as Bitcoin, Ethereum, Litecoin and DOGE. The 19 spot indices encompass those of major stock indexes. However, the bulk of BlackBull Markets’ tradable symbols are equities. 

There are 2,100+ equities comprising major global share markets and companies like Tesla, Apple and Amazon. Remember, all these instruments are only available for trading as CFDs, which means you don't own the assets directly or have a direct investment in them. Fortunately, BlackBull Markets also provides a means for you to invest directly in stocks from individual companies through its BlackBull Invest platform. 

This long-term investment strategy helps you become a shareholder and benefit from the growth of a diverse company, earning dividends and capital appreciation. 

Trading Technologies

BlackBull Markets offers four robust trading technologies alongside two in-house platforms. Having multiple platforms means you can choose the option that suits your trading style, preferences, goals and risk management strategy. 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.

MT4 and MT5 Platform

The MT4/MT5 suites are versatile and well-recognized in the financial market. Their extensive features and functionalities establish them as the ideal online platform for CFD and forex trading. MT4 has a beginner-friendly and intuitive interface that appeals to newbies and experienced traders alike. It is the most globally renowned retail trading platform, featuring 50+ trading indicators, 9 timeframes, 24 analytical charting tools and 3 chart types. 

The MT5 is a more sophisticated evolution of the MT4. It is ideal for expert multi-asset traders seeking a more powerful trading technology. It boasts 44 analytical charting tools, 21 timeframes and 38+ preinstalled technical indicators. It also features a depth of market (DoM), detachable charts, an integrated economic calendar and extra pending order types (sell stop limit and buy stop limit). 

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). You can execute trading via the web without downloading any software onto your device using the MT4 WebTrader.

The cTrader Platform 

The cTrader is another popular, sophisticated and feature-rich platform that provides traders with a fantastic and hassle-free trading experience. Its range of advanced trading infrastructures seems built for high-precision and ultra-fast trading execution, making it an important addition to ECN/NDD brokers like BlackBull Markets. If you're a beginner, consider using MT4 till you become very comfortable using advanced trading platforms like cTrader.

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. The platform also boasts custom cBots for algo trading, news feeds, market sentiments, custom time zones and a selection of built-in widgets from reputable sources like Trading Central and FXStreet. 

One unique feature of the cTrader platform is the cTID (cTrader ID) login functionality. This feature facilitates seamless access to all your linked trading accounts via a single login. Other cTrader features, like an integrated economic calendar, mirror those of MT5 platforms. cTrader is compatible with Mac and portable iOS devices, as well as Windows desktops and Android devices. Linux users can access cTrader via the web. 

The TradingView Platform 

TradingView is the #1 charting and analytical platform used by 50+ million traders worldwide. Suppose you're an active day trader or swing trader aiming to refine your strategies and develop unique trading styles. In that case, TradingView is a must-have tool in your trading arsenal. The platform blends limitless flexibility and customizability with unparalleled functionality and ease of use. Highlights of its analytical features include 400+ built-in indicators, 100,000+ community-built indicators, 20+ timeframes and 15+ chart types. 

These features are designed to optimize technical analysis during day trading. Suppose you're a long-term buy-and-hold investor focusing on fundamental analysis. In that case, using TradingView could amount to overkill. The platform also offers screeners for multiple assets (stocks, forex and crypto), a robust alert system and a vibrant trading community for knowledge-sharing. If you're a BlackBull share investor, you'll find TradingView invaluable not only for its efficient stock screener, alert system and technical analytical tools but also for its other noteworthy features.

These encompass chart exports, backtesting, fundamental stock data, trade ideas, chart exports, heatmaps, real-time global news and earnings calendars. BlackBull offers its trading clients free TradingView Essential, Plus or Premium — a significant cost savings considering the high subscription packages for each package. Although TradingView is a browser-native platform, it is available for mobile devices such as iOS and Android. However, order execution is unavailable on the mobile app.

BlackBull’s Proprietary Technology: BlackBull CopyTrader and BlackBull Trade

BlackBull Markets provides two cutting-edge in-house trading technologies: BlackBull CopyTrader and BlackBull Trade. The BlackBull CopyTrader is an award-winning and ultra-low latency platform that connects retail traders to elite fund managers with a proven track record of success and trading strategies. With BlackBull CopyTrader, you can harness the expertise of elite traders, leverage their market insights and capitalize on their proven track record to optimize your trading success. The best part is that the platform incorporates advanced risk management tools that let you define precise rules to control how the elite fund managers deploy your funds. 

Its simplicity, transparency, flexibility and efficiency make it the ideal copy trading tool for beginners and experienced traders committed to excelling in the market without hassles. The BlackBull Trade Platform is a revolutionary and versatile web and mobile trading application boasting comprehensive price analysis tools, expert advisors, copy trading features and more. If you enjoy multi-asset trading on the go and need a robust mobile platform, BlackBull Trade might just be what you need. This is more so because its features mirror MT4/MT5 and cTrader but with added flexibility and convenience. 

BlackBull Markets Trading Tools

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. 

BlackBull's FIX API facilitates ECN integration and direct market access (DMA) by directly connecting institutional traders to BlackBull Markets' bridge provider. BlackBull Markets also supports social trading through market leaders ZuluTrade and Myfxbook Autotrade. That's in addition to connecting your accounts to TradingView's active community of 30M+ traders. BlackBull Markets is an industry leader in social and copy trading. The platform also offers a margin calculator for forex trading. 

BlackBull Account Types 

BlackBull Markets offers three account types: ECN Standard, Prime and Institutional. The ECN Standard account is perfect for undercapitalized and beginner traders because of its low trading cost structure. It is commission-free and requires no minimum deposit. However, the ECN Prime account is the most popular among traders and ideal for experienced traders. 

It has a 0.1 pip compared to 0.8 for the ECN Standard type. Additionally, it requires a $2,000 minimum deposit and a $6 per lot commission. You may wonder, "What then makes this account popular?" To grasp this, you must understand how trading costs and pips work. The total trading costs are the sum of the commission and spread. ECN Standard account is commission-free, meaning the total trading cost is 0.8 pips.

To calculate the total trading cost for ECN Prime, you first convert the $6 per lot commission to a commission-equivalent spread. You do this by dividing your commission by the lot size (commission/lot sizes). So, assuming a typical lot size for the forex market is 100,000 units:

Commission equivalent spread = $6 / 100,000 units  =  $0.00006 per unit

Then you convert to pips. In the forex market, a pip represents a one-digit movement in the fourth decimal place, except for pairs involving the Japanese yen, where a pip represents a one-digit movement in the second decimal place. Since $0.00006 is small, it's typically expressed in fractional pips.

For example, assuming the quote currency is USD (where one pip is equal to 0.0001), then:

Commission equivalent spread = $0.00006 / 0.0001 = 0.6 fractional pips

Therefore, the total trading cost for the ECN Prime account is 0.7 pips ( 0.6 +0.1) compared to 0.8 for the ECN Standard option. The $1 price difference translates to thousands in additional annual profit under similar conditions and trading strategies, particularly for high-volume and high-frequency traders. 

An even better account option for well-funded and expert high-volume traders is the ECN Institutional account. It features spreads starting from 0.0 pips (ultra-raw spread), a $4 per lot commission and a $20,000 minimum account requirement. That is, a total trading cost of $4, which is low compared to the other accounts. 

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. Unfortunately, the demo account is available for only 30 days. 

Research and Educational Resources 

BlackBull Markets provides high-quality articles and daily news that shed light on current global market trends and those of  New Zealand, the U.S. and more. This vital research resource is accessible under Trading Opportunities. Through its Economic Calendar, the broker provides information on scheduled global economic events and releases that can impact financial markets. This can help you to make informed decisions based on upcoming economic data.

BlackBull's educational hub boasts libraries on forex, crypto, commodities and stocks neatly divided into Beginner, Intermediate and Advanced sections. This outstanding educational approach ensures that every trader, regardless of experience level, can learn and continually update their trading knowledge. Over 3,000 trading video tutorials are available, including those demonstrating how to use technical indicators, customize trading platforms and create templates. You can join upcoming webinars or watch past ones for additional trading insights. The trading podcast is also worth listening to. 

BlackBull’s Affiliate Program 

BlackBull Markets offers an additional earning opportunity for retail and institutional traders via its affiliate program. However, suppose you're a non-trader with a large social media following. In that case, you can also capitalize on this earning opportunity by sharing affiliate links or promoting the company on your platform. 

The program offers incentivized bonuses and payments of up to $250 for any client who signs up on the platform, deposits funds and starts trading through your affiliate link. Like all referrals, BlackBull Markets designed its affiliate program to meet innovative marketing needs. As such, it adopts adequate measures to make it attractive. For instance, it offers affiliate partners personal support and tools for tracking their affiliate business growth. Additionally, partners benefit from the guidance of a Personal Affiliate Manager with years of industry experience.

Account Opening: How to Start Trading With BlackBull Markets

Although the account opening process follows the standard norm in the retail forex industry, Benzinga finds BlackBull's process highly simplified. You can get your account ready in under five minutes and start trading by following the following five steps.

Step 1: Create a BlackBull Markets account or sign up using your email, Google, Facebook or Apple ID. Then, choose your preferred trading conditions.

Step 2: Upload or submit your government-issued identity document and proof of address.  

Step 3: Select and fund your wallet, then transfer the funds to your live trading account.

Step 4: Connect to your preferred trading platform. If you already have trading account credentials, you can log in directly without setting a password. 

Step 5: Start trading. Open the order panel, set the trade size and take-profit and stop-loss levels and activate your order.

BlackBull Markets provides round-the-clock customer support through Live Chat, email or telephone. Benzinga considers Live Chat the most convenient option. The fastest channel, though, is the phone. The broker did well in providing phone numbers for a few jurisdictions where it operates, including New Zealand, Cyprus, Mexico and Argentina. It offers a toll-free option for New Zealand. The email channel is recommendable for less urgent inquiries. BlackBull Markets has different email addresses for various queries, including support, compliance and introducing broker queries. 

BlackBull Markets maintains an active presence on LinkedIn, X, Instagram, Telegram, WhatsApp, YouTube and Facebook. These platforms provide an alternative means of connecting with the team and its trading community and asking questions as needed. Besides providing each trader with a dedicated account manager, the broker did well to provide comprehensive information on its products and services on the website. The Quickstart dropdown tab on the top of the menu can answer some of your questions regarding the company and its various services. 

Comprehensive information on specific support resources, such as account, platform and market support, can be found in the support dropdown tab at the lower part of the menu. The company prioritizes client satisfaction. BlackBull's exceptional service and commitment to its trading community were core factors in the broker winning the Best in Class for Offering of Investments in ForexBrokers.com's 2023 Annual Awards. 

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 is well-respected and trusted by thousands of traders globally because of its excellent trading conditions, robust security measures and regulatory oversight. The broker is licensed and regulated by the New Zealand FMA and the Seychelles FSA. BlackBull Markets maintains strict compliance standards regarding client fund protection in line with these financial authorities' regulatory requirements. 

It is an active member of the New Zealand Financial Services Complaints Limited (FSCL) dispute resolution scheme. FSCL aims to provide a cost-effective alternative to legal action for resolving disputes in the financial services industry. The broker stores client funds in segregated accounts at ANZ Bank, one of the most reputable financial institutions in New Zealand. This ensures that traders' funds are readily accessible at all times and remain unaffected if the broker fails. 

BlackBull Markets offers negative balance protection, which ensures you won't lose more than you deposited during widespread market volatility. If you're a margin trader, check that your broker has this protection, as it can help minimize risk. To protect users' online trading accounts, personal identifiable information (PII) and other sensitive data at rest or in traffic across its network, BlackBull Markets employs state-of-the-art encryption protocols. 

Additional recommended security measures include solid and varied passwords, 2FA and using firewalls and antivirus software to protect your devices. BlackBull Markets will not share or sell your data to a third party without your consent except to comply with judicial orders. You can review the Privacy Policy and Compliance Requirements to understand how the company manages your data and your individual responsibilities. 

BlackBull offers transparent and flexible pricing or trading fees. The account minimum, spread and commission depend on your selected account types. For instance, the ECN Standard account is commission-free and requires zero minimum. As an ECN broker, BlackBull Markets offers significant cost savings via near-instant trade execution. The table below shows how the pricing structure and other parameters compare for each account type. 

Trading fees are competitive and provide excellent value, especially when you consider BlackBull's range of trading tools and resources. You can engage in margin trading using BlackBull's leverage to boost your position size and capitalize on potentially profitable opportunities. For instance, the 1:500 maximum leverage for forex means that with a balance of $1,000, you can boost your position size by up to $500,000, thereby maximizing your profits. However, you must understand that leverage magnifies losses the same way they do profits. 

BlackBull Markets does not charge inactivity fees, account fees or fees for deposits. The broker offers over 20 funding options, including bank transfer, credit/debit cards, crypto, Airtm, Skrill, Neteller, SEPA and AstroPay. Typically, your location or jurisdiction determines the acceptable payment method. Depending on your chosen method, the deposit processing time ranges from under a minute (instant deposit) to up to 24 hours or a few days. Most deposit and withdrawal methods support multi-currencies.

The minimum and maximum deposit limits vary slightly across each method. As a standard practice, you make withdrawals using the same deposit method. However, if you meet compliance requirements, you can withdraw funds using a method different from the one you used to deposit them. The minimum withdrawal amount and processing time also depend on your withdrawal method. A $5 withdrawal charge is applicable regardless of the withdrawal method.

BlackBull Markets delivers a fantastic trading experience that benefits beginners and seasoned traders. Its 26,000 tradable instruments across multiple asset classes make it easy to find an asset that suits your trading style or preferences.

BlackBull's cutting-edge trading technologies combine the best features to make multi-asset trading enjoyable on the web and mobile platforms. The BlackBull CopyTrader platform can take your copy trading experience to a new level. The broker facilitates social trading via additional tools like ZuluTrade and Myfxbook. 

This is in addition to TradingView. The trading fees, including commission and spread, are competitive, and execution is lightning-fast and precise — a unique feature of an ECN broker. As an ECN broker, BlackBull Markets lets you trade outside regular trading hours. 

A VPS is readily available to provide uninterrupted market access. Account registration and onboarding, including documentation and know-your-customer (KYC) processes, takes under five minutes. For beginners, the demo account is invaluable for backtesting strategies, getting acquainted with trading platforms and building the confidence necessary for live trading.

It mirrors or mimics a live trading account but with fake or virtual cash. Additionally, the BlackBull Markets’ library of insightful educational content is readily available to help you navigate the complexities of the trading world. Unlike other brokers, BlackBull Markets also provides educational resources for intermediate and advanced trading, hoping to update their trading experience. 

BlackBull's highly efficient support team and dedicated account manager ensure immediate assistance whenever necessary. BlackBull Markets delivers a comprehensive trading experience that meets the needs of every trader and is therefore highly recommended by Benzinga.

BlackBull Markets vs. Competitors

BlackBull Markets has a few competitors, including XM, Pepperstone, FXCM and Admiral Market. Like BlackBull Markets, these brokers provide multi-asset CFD trading to institutional and retail investors. BlackBull's 26,000+ tradable assets, low trading costs and minimal entry barrier are key competitive advantages. For instance, the commission-free and zero-deposit ECN Standard account makes it easy for anyone to start trading, and it takes under five minutes to sign up.

BlackBull Markets also boasts some of the most advanced and intuitive trading technologies, with robust features and sufficient assets to cater to diverse trading preferences. Thanks to its cutting-edge Equinix server, BlackBull Markets offers near-instant execution. In a recent study conducted by CompareForexBrokers.com, it was ranked the #1 fastest broker. The broker's social trading tools, including ZuluTrade and Myfxbook, are also top-notch, and the company offers the most comprehensive educational resources. 

As a reputable and multiple-award-winning forex and CFD broker, BlackBull Markets ticks all the boxes that guarantee success in the financial market. Besides its proprietary trading technology, the broker supports multiple trading platforms, including the cutting-edge cTrader, the globally renowned MT4/MT5 and charting leader TradingView. 

This feature grants you the flexibility to choose the platform that best aligns with your expertise. Its range of financial assets is impressive. If you're a stock veteran, you can also capitalize on BlackBull Invest to invest directly in shares of major companies for long-term wealth-building. The entry barrier is low, trading costs are affordable and funding is fast and hassle-free.

A demo account is available to get beginners started before trading live. Plus, the broker's well-designed educational libraries are available to help every trader navigate CFDs and forex trading complexities in a fast-changing financial market. Suppose you're an experienced or beginner trader looking for a reliable and trusted online forex trading broker to kickstart your journey. In that case, BlackBull Markets is an excellent choice.