SquaredFinancial Vs. BlackBull Markets - Compare Trustworthiness, Capabilities, Fees and Legitimacy

SquaredFinancial is a global brokerage firm founded in 2005 and headquartered in Cyprus that specialises in providing real stocks along with CFDs on all major asset classes paired with MT4 & MT5 platforms.

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.

• Professional high volume traders looking to exploit their competitive commissions in shares
• High volume FX traders looking to open a SquaredElite account with spreads from 0 Pips

• Experienced currency traders looking for their ECN PRIME account offer with spreads from 0.1 Pips

• CySec (Cyprus)
• FSAS (Seychelles)

• FMA (New Zealand)
• FSAS (Seychelles)

• Extensive asset offering (more than 10,000+ products)
• Real stocks are offered along with CFDs
• Very competitive share trading commissions when compared to similar brokers

• Competitive spreads in their ECN Prime account (From 0.1 Pips)
• Wide variety of platforms (MT4, MT5, TradingView and IBKR)
• Over 23,000 + shares

• Platform offering is limited to only MT4 and MT5
• High minimum deposit for SquaredElite account (5,000 €)

• 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

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• 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.

• Visa
• Mastercard
• Bank Transfer
• Neteller
• Skrill
• Instatransfer

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

US, CA, IR, SY.

US, CA, SY, IR.

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

Yes, depending on account type or assets. For account types:

• SquaredPro account has no default commissions
• SquaredElite account has a commission of $5 per lot

For particular assets there are commissions on all accounts, specifically in shares as follows:

• USA shares have a $0.06 per share commission (with a minimum of $2)
• European shares have a 0.15% commission of the transaction value (with a minimum of 5 €)

• 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.