Blackbull Markets review – CFD Trading Platform

7 minutes

Blackbull Markets is a CFD/ Forex brokerage house launched back in 2014. It is New Zealand-based and describes itself as a true ECN. They provide fintech solutions for worldwide clientele and No dealing desk brokerage house specialized in CFDs, forex, fiber-optic communication, and commodities. Blackbull Markets is focused on providing institutional-level resources to its clients. It also has branches in countries other than New Zealand such as Malaysia, U.S.A, and New York. 

Blackbull markets offer trading in 27 forex currency pairs including precious metals, commodities, and 6 major indices.

Regulation:

Blackbull markets enjoy regulation of a moderate level. It is registered with the financial service provider registry (FSPR) New Zealand under the registration number FSP403326. In addition, it is also a part of the financial service complaint limited (FSCL) resolution scheme. It reports to the financial market authority (FMA) for counter financing of terrorism and anti-money laundering matters. Blackbull Markets are entirely owned by Blackbull group limited, domiciled from New Zealand. Blackbull group limited is also a registered company with a registration number 5463921. 

 Available financial instruments:

BlackBull Markets offers trading in the following instruments:

• Forex – over 27 minor and major currency pairs and crosses.
• Metals – offers trading in spot silver and spot gold paired with the U.S. Dollar.
• Commodities – offers a narrow selection of commodities, only energies are available for trading:  natural gas and crude oil.
• Equity Indices – offers a selection of six major equity indices from 5 developed nations.

Account Types:

Blackbull markets offer three types of accounts:

Standard Account

It offers less professional services with lower overall costs but gives access to all blackbull market products. It requires a minimum deposit of $200.

Prime Account

It is the most popular and most balanced account of blackbull markets. It offers professional services with a $3 commission at every $100,000 deposit (standard round-turn commission of $6. The minimum deposit required is $2000.

Institutional Account

It is the most comprehensive account available that offers higher-volume and long-term trading options. Moreover, it is a customizable account with varying features to fulfill the individual needs of the customers. It requires a minimum deposit of $20,000.

Islamic Account

Blackbull markets offer swap-free variants for all of their account types.

Trading Platforms

Blackbull markets offer two trading platforms: MetaTrader4 and MetaTrader5. Both platforms offer a very convenient option between a user-friendly interface and powerful conditions. Both are suitable for beginners and professional traders. 

Web Trading

Both the platforms support devices such as MAC or tablet, PC, Mobile devices paired with the web version. Web trading has limited tools as compared to the desktop version but it still has options needed for everyday trading.  

Mobile Trading Platform

The mobile trading option makes trading a lot easier as you can access and monitor whenever you like. Blackbull markets provide a range of technical features and chart options in its mobile version. The Mobile version also takes extra benefits from FIX API trading capability and VPS servers. 

AutoTrading

Blackbull markets also offer auto-trading apart from manual trading. There are no restrictions to use EAs, neither hedging nor scalping strategies. You can get benefit from Blackbull's social trading option by using leading software such as Myfxbook and ZuluTrade.

Blackbull Markets features:

Although Blackbull Markets offer the MT4 platform which has some in-built tools it is unable to provide many in-house stand-alone tools. Blackbull Markets offer additional services through a partnership with free access given to clients.

Virtual private servers:

Blackbull markets will provide you VPS hosting connected by the fiber optic cable to Equinix servers. This feature allows the MT4 platform to run without needing the computer switched on. A VPS hosting can be customized according to your needs and lessen latency by up to 30%. It is used by clients who cannot afford downtime and need to run their trading platform 24/7. VPS is provided to clients with the prime account.

MAM/PAMM:

Blackbull markets offer PAMM (percentage allocation management module) and MAM ( multi-account manager) solutions for clients who want to execute bulk orders and transfer from one master account to multiple accounts.

Both MAM and PAMM are customizable to meet your requirements and generate higher profits.

Swipestoks:

It is an online community for traders to discuss everything about trading to improve the knowledge and skills of trading. You can copy strategies used by other fellow traders to get more benefits. Through the intuitive user interface, you can get access and further accept or deny any trade. Blackbull Markets clients can register for swipestox for free.

Psyquation:

This feature analyzes your trading, gives you suggestions on your weak points, and tells how they can be improved. It enables you to set goals and control trading via a dashboard, set notifications, and gain useful insights. You can link your psyquation account with an MT4 account.

Economic calendar:

This feature displays historical and upcoming news events that you can filter by date. It shows relevant currency, forecasts of releases, and news events.

How to open an account at blackbull markets:

Blackbull markets are regulated by (FSPR), so every client needs to pass some compliance checks to assure that they understand the risks related to trading and are allowed to trade. For opening an account, you will be asked the following statement:

Note that the expiry date for the proof of address document of different entities must be different under the blackbull market brand.

• A bank statement or utility bill from the last three months that shows your address.
• A scanned color copy of your driving license, passport, and national ID.

You will be further asked to answer some questions to confirm that you have some experience with trading.

Blackbull Markets minimum deposit

To open all account variants, BlackBull Markets requires a minimum deposit.

• Standard account minimum is $200
• Prime account minimum is $2000
• Institutional account minimum is $20000

Payment methods:

Blackbull markets do not accept any cash payment method or payment by third parties, and the payment depositor should be the person who opened the account.

Below are the payment methods BBM accept:

Card types:

Two credit card types are accepted: master and visa. A picture from both sides of the credit card is necessary for the process of deposit and withdrawal. Last four digits of the card must be shown in the picture.

Bank wire transfer:

It is accepted for deposit and withdrawal. It requires a minimum deposit of £1000.

E-wallet:

The accepted payment solutions through e-wallet are the following: Skrill, Neteller, Fasapay, and China Union pay. Transactions are usually processed immediately but it can take up to one hour sometimes.

Payment method fees:

Blackbull markets do not charge any deposit fees but it charges a fee for withdrawals. The withdrawal must be done using the same payment method you used for depositing. It charges a fee of 5 in your base account currency for Skrill, Credit card, and Neteller. For international bank transfer, it charges 20 in your base account currency.

Fees:

For ECN standard accounts, the spread starts from 0.8 pips and no commission. For ECN prime accounts, the spread starts from 0.1 with a $6 commission. Moreover, for ECN institutional accounts, the spread starts from as low as 0 and its commission is also negotiable.

Summary:

Blackbull markets have a limited product range on their MT4 and low trust score as compared to other forex brokers. More education and research are needed for the platform to get mature as only social copy trading tools cannot back up the company.