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BlackBull Markets Review 2022 - The Good and the Bad

By Stefano Treviso , Updated on: Oct 19 2022.

BlackBull Markets in a Nutshell

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74-89% of retail CFD accounts lose money.

🏛 Regulators FMA, FSAS.
💳 Minimum Deposit ($) 50
💰 Payment Methods Credit Card, Debit Card, Bank Transfer, Neteller, Skrill, FasaPay, China Union Pay.
💵 Base Currencies 9 - EUR, USD, GBP, NZD, AUD, SGD, ZAR, JPY, CAD.
📚 Assets Offered

🔹 Stock CFDs 🔹 Currency CFDs 🔹 Commodities CFDs 🔹 Indices CFDs

💪 Retail Leverage 1:500
💪 Pro Leverage Unavailable
✍ Custom Leverage Yes
🎲 Deleveraged Trading Yes
🎓 Demo Account Yes
💰 Commissions
  • ECN Standard has no fees.
  • ECN PRIME has a $6 commission per lot round turn

In the case of share trading, their fees start from NZD $12 per transaction yet they’re not clearly explained anywhere on their website.

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BlackBull Markets in 60 seconds

  • Over 23,000+ shares through their share trading platform
  • Commission Free ECN account with $50 minimum deposit
  • Multi-platform trading environment with MT4, MT5, TradingView and IBKR

BlackBull Markets is a global broker headquartered in New Zealand founded in 2014 that specialises in providing CFDs based on shares, commodities, currencies and indices.

BlackBull Markets Full Review

Here’s what we’ll talk about during our review: 

Is BlackBull Markets Safe?

BlackBull Markets is regulated by the FMA (New Zealand) and FSAS (Seychelles). 

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

We consider them a safe broker due to the following reasons:

  • They have been operating since 2014
  • They’re partnered with Interactive Brokers (one of the most reputable brokers in the world) to provide their share trading platform
  • They are also an active TradingView broker

BlackBull Markets Minimum Deposit and Withdrawal

BlackBull Markets minimum deposit varies according to the account type as follows:

  • $50 for ECN Standard account
  • $1,000 for share trading account (requirement only for first time funding)
  • $2,000 for ECN prime account
  • $20,000 for ECN institutional account

BlackBull Markets allows the following payment methods:

  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • FasaPay
  • China UnionPay
  • Skrill

It is important to note that payment methods are subject to availability depending on the users’ country of residence.

Base Currencies

BlackBull Markets allows its customers to choose from 9 different base currencies:

  • United States Dollar
  • Great British Pound
  • Australian Dollar
  • Euro
  • Singapore Dollar
  • Japanese Yen
  • Canadian dollar
  • South African Rand
  • New Zealand Dollar

BlackBull Markets Account Types

BlackBull Markets provides 3 different accounts, yet we will only focus on the 2 accounts that are relevant for retail traders, ECN standard and ECN prime. Let’s take a look at their main differences:

ECN Standard ECN Prime
  • $50 minimum deposit
  • Spreads from 0.8 Pips
  • Min Lot size: 0.01 
  • Leverage up to 1:500
  • No commissions
  • $2,000 minimum deposit
  • Spreads from 0.1 Pips
  • Min Lot size: 0.01 
  • Leverage up to 1:500
  • $6 per lot commission

BlackBull Markets ECN standard account is definitely well suited for low volume investors looking for a beginner friendly minimum deposit threshold whereas the ECN prime account is a great choice for experienced traders looking for very low spreads accompanied by competitive commissions.

BlackBull Markets Trading Fees

BlackBull Markets charges spreads and commissions (depending on account type), let’s compare them with other similar brokers:

Spreads

Asset BlackBull Markets Pepperstone Capital.com
EUR/USD SpreadFrom 0.4 Pips to 1.61 PipsDynamic - From 0 to 0.77 PipsDynamic - From 0.8 Pips
SP500 SpreadFrom 5.5 PipsDynamic - From 0.4 to 1.5 PipsDynamic - From 70 Pips
Gold SpreadFrom 16 PipsDynamic - Average 13.81 PipsDynamic - From 55 Pips
TSLA SpreadDynamic - Market SpreadDynamic - Market SpreadDynamic - From $3.30
XLK SpreadDynamic - Market SpreadDynamic - Market SpreadDynamic - From $0.97
BTC SpreadUnavailableDynamic - From $30Dynamic - From $130

BlackBull Markets spreads are definitely very competitive but in order to gain access to the lowest ones, a user must be willing to start with an ECN prime account with a minimum deposit of $2,000.

Commissions & Fees

BlackBull MarketsPepperstoneCapital.com
Commissions
  • ECN Standard has no fees.
  • ECN PRIME has a $6 commission per lot round turn

In the case of share trading, their fees start from NZD $12 per transaction yet they’re not clearly explained anywhere on their website.

  • For Standard account : All fees included in the spread
  • For Razor account: From $7 per Lot round turn
None

BlackBull Markets commissions offering is definitely at par with major market players. Their offer suits both low volume traders interested in no commissions and high volume traders looking for a commission driven approach with low spreads.

BlackBull Markets Available Assets

BlackBull Markets is an FX broker that evolved to become a share trading solution. Here’s how their asset offering compares:

Asset BlackBull Markets Pepperstone Capital.com
Stocks001000
Stock CFDs2300013003800
Currency Pairs000
Currency Pair CFDs6460140
Commodities000
Commodities CFDs153133
Indices000
Indices CFDs132537
ETFs000
ETF CFDs0100115
Cryptocurrencies000
Cryptocurrency CFDs02027
Bonds000
Bond CFDs000
Options000
Option CFDs000
Futures000
Future CFDs000

Boasting over 23,000+ shares, BlackBull Markets is definitely a great alternative for stock traders.

BlackBull Markets Trading Platforms

BlackBull Markets provides the following platforms:

  • MetaTrader 4 & 5 (for IOS, Android, Windows, Mac and through their Web Terminal)
  • TradingView (directly integrated via TradingView’s site)
  • IBKR (Interactive Brokers) share trading platform (only for IOS and Android)

All their platforms are not built by themselves, yet, they are amongst the industry leaders when it comes to online trading.

Here’s how their Web trader looks:

BlackBull Markets Web Traders

For those traders familiar with MT4 and MT5, BlackBull Markets is definitely a very convenient broker.

BlackBull Markets Mobile Share Trading Platform

BlackBull Markets share trading platform is exclusively available on Android and IOS devices and is none other than the platform created by Interactive Brokers which is considered one of the best ever made.

BlackBull Markets Mobile Share Traders

BlackBull Markets share trading platform can be a little intimidating for new users but if you’re an experienced trader, you’ll find that this platform can solve all your trading needs.

BlackBull Markets Research and Analysis Tools

Inside the support section of BlackBull Markets website’s menu, there is an area called “Market Reviews” where they provide a daily analysis of a few assets of their own choice.

The Market Reviews along with their economic calendar are the only two research and analysis tools they provide via their website.

Inside BlackBull Markets’ share trading platform, there is a tool called IBot, which serves as an automated chat bot where users can ask questions and obtain quite a lot of information about a particular asset. This is definitely one of the most useful tools they provide but it’s only available in their share trading platform.

BlackBull Markets Educational Tools

Inside the support section of BlackBull Markets website users will be able to find the following educational tools:

  • Trading Videos
  • Trading Glossary
  • Trading Guides

We reviewed each of one them and we’re not very confident on how useful they are as they seem to be mostly outdated or empty sections.

Verdict

BlackBull Markets is a broker well-suited for three types of traders:

  • Intermediate to experienced traders looking for a low minimum deposit commission free ECN account
  • Intermediate to experienced high volume traders willing to pay the minimum deposit of $2,000 to gain access to their ECN Prime account with competitive spreads
  • Share traders looking to access one of the most powerful platforms in the industry with over 23,000+ shares and gain access to a wide variety of payment methods

BlackBull Markets provides a great asset offering (especially in shares) and a great selection of trading platforms (MT4, MT5, TradingView and IBKR). Their commissions and spreads are definitely competitive ones and all their accounts operate under the ECN model. We consider them a great choice for intermediate to experienced high volume traders, on the other hand, for beginners they’re lacking better account options and more educational tools.

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