BlackBull Markets
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74-89% of retail CFD accounts lose money.

Vs.

LegacyFX
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77% of retail CFD accounts lose money.

BlackBull Markets Vs. LegacyFX - Compare and Choose the Right One

Updated Jun 30 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

77% of retail CFD accounts lose money.

Overview

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.

Legacy FX is a cypriot broker founded in 2017 that specialises in CFDs trading via MetaTrader 5 for mobile, web and desktop devices.

Best For
  • Experienced currency traders looking for their ECN PRIME account offer with spreads from 0.1 Pips
  • Traders looking for a CySec broker that offers a trading signals service
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • FMA (New Zealand)
  • FSAS (Seychelles)
  • CySec (Cyprus)
  • VFSC (Vanuatu)
The Good
  • Competitive spreads in their ECN Prime account (From 0.1 Pips)
  • Wide variety of platforms (MT4, MT5, TradingView and IBKR)
  • Over 23,000 + shares
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
The Bad
  • Their standard asset offering is very low (over 300 instruments)
  • Share trading requires a separate platform with a different onboarding
  • Commissions are above average and share trading fees are a mystery
  • High minimum deposits (From $500 to $25,000) for their various account types
  • Extremely high spreads when compared to similar brokers
  • Low asset offering with poor categorisation
  • Subpar regulatory framework
  • Only MT5 platform is offered
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2014 2017
💳 Minimum Deposit
From $50 to $2,000 $500
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • FasaPay
  • China UnionPay
  • Skrill
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
💵 Account Base Currencies
9 - EUR, USD, GBP, NZD, AUD, SGD, ZAR, JPY, CAD. 11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US, CA, SY, IR. US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.
📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
Yes No
Assets
📚 Available Assets
  • CFDs on shares, currencies, indices, commodities and cryptocurrencies.

CFDs on currencies, commodities, indices, cryptocurrency and stocks.

📙 Stocks
23,000+ 200
📘 Currency Pairs
64 40
📗 Commodities
15 24
📕 Indices
13 18
📔 ETFs
N/A N/A
💸 Cryptocurrencies
N/A 10
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:
All of BlackBull Markets assets are CFDs.

All of Legacy FX assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
N/A N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
N/A N/A
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $10,000 (0.1 Lots)
📈 Minimum Commodities Trade Size
N/A $10,000 (0.1 Lots)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:500 Up to 1:30
💪 Professional Leverage
N/A Up to 1:500
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes (only for share trading) No
📱 Android App
Yes (only for share trading) No
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes (MT4 & 5) Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes (only for share trading) No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No No
Fees
💰 Inactivity Fee
No

Yes, 10 units of account base currency after 90 days of inactivity.

💰 Deposit Fees
No No
💰 Withdrawal Fees

Yes, $5 for card withdrawals and $20 for international bank transfer withdrawals.

No
💰 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.

Yes, ranging from 0.15% to 0.45% of trade value for stocks only.

Spreads
📈 EUR/USD
From 0.4 Pips to 1.61 Pips Dynamic - From 1.6 Pips
📉 SP500
From 5.5 Pips Dynamic - From 120 Pips
📈 GOLD
From 16 Pips Dynamic - From 63 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
Dynamic - Market spread N/A
📉 BTC
N/A Dynamic - From $505
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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