MetaTrader 4 and 5
Both MetaQuotes platforms, with VPS options for automated trading.
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- VPS option
- One-click trading
- Desktop, web and mobile
BlackBull review
New Zealand broker founded in 2014, regulated by the FMA and the FSA Seychelles, with ECN pricing and one of the widest platform choices.
8.8/10
Analysis of public sources- FMA
- FSA Seychelles
- Since 2014
Our verdict on BlackBull
In short
BlackBull Markets is a New Zealand broker founded in 2014. It is regulated by the FMA in New Zealand and the FSA in Seychelles, and offers ECN pricing on MetaTrader 4, MetaTrader 5, cTrader and TradingView, with access to more than 26,000 instruments including real shares.
Who is it for?
Ideal for traders who want ECN pricing, a wide choice of platforms and a very large instrument range, starting with no minimum deposit.
Who it suits less
Less suited to traders who want to be covered by a tier-1 regulator such as the FCA or ASIC, since most international clients are served by the Seychelles entity.
BlackBull overview
BlackBull Markets was founded in Auckland in 2014. Black Bull Group Limited is a registered financial service provider in New Zealand and holds a derivatives issuer licence from the Financial Markets Authority (FMA). International clients are usually served by BBG Limited, regulated by the Financial Services Authority of Seychelles.
BlackBull offers three main accounts: ECN Standard (no commission, spreads from 0.8 pip, no minimum deposit), ECN Prime (spreads from 0.1 pip with a commission) and ECN Institutional. Clients can trade on MetaTrader 4, MetaTrader 5, cTrader, TradingView and BlackBull's own platforms, and access a share trading service with thousands of stocks.
In our comparison, BlackBull ranks eighth with a rating of 8.8 out of 10. Its platforms, pricing and instrument range are strong; its regulation score is lower because it does not hold a tier-1 licence such as FCA or ASIC authorization.
Pros and cons
Pros
- No minimum deposit on the ECN Standard account
- MT4, MT5, cTrader and TradingView
- More than 26,000 instruments including share trading
- ECN pricing from 0.1 pip on the Prime account
- Fast execution suited to active traders
Cons
- No tier-1 licence such as FCA or ASIC
- International clients served by the Seychelles entity
- Withdrawal fee on some methods
- Educational material less developed than the leaders
Fees and commissions
The ECN Standard account has no commission, with spreads from 0.8 pip on EUR/USD and no minimum deposit. The ECN Prime account offers spreads from 0.1 pip with a commission of about $6 per round turn, for a higher minimum deposit. Deposits are free; a small fee applies to some withdrawal methods.
| Fee type | Details |
|---|---|
| Spread EUR/USD | From 0.8 pip (ECN Standard), from 0.1 pip + commission (ECN Prime) |
| Commission | None on ECN Standard; about $6 per round turn per lot on ECN Prime |
| Overnight financing (swap) | Charged on positions held overnight; swap-free accounts available |
| Deposit fees | Free |
| Withdrawal fees | Small fee on some methods (for example bank wire) |
| Inactivity fee | None |
Trading platforms
BlackBull offers one of the widest platform ranges in our comparison: MetaTrader 4, MetaTrader 5, cTrader, TradingView, the BlackBull Trade app and BlackBull CopyTrader. Third-party services such as ZuluTrade and Myfxbook Autotrade are also supported.
cTrader and TradingView
Two modern platforms, for depth of market and chart-based trading.
- Level II market depth
- cTrader Automate
- Trade from TradingView charts
- Alerts
BlackBull Trade and CopyTrader
BlackBull's own app and copy trading service.
- Mobile trading
- Copy trading
- Share trading
- Account management
Available instruments
- 70Forex pairs
- 26,000Stocks
- 20Commodities
- 25Indices
- 20Cryptocurrencies
Approximate figures published by the broker. The exact list may vary by account type and by the entity that holds your account.
Deposits and withdrawals
- Minimum deposit
- No minimum (ECN Standard)
- Payment methods
- Processing times
- Instant deposits by card and e-wallet. Withdrawals processed within 1 business day.
- Fees
- No deposit fees. A small fee applies to some withdrawal methods.
Customer service
- Languages
- Opening hours
- 24 hours a day, 7 days a week
- Contact channels
Safety and regulation
BlackBull Markets is regulated by the FMA in New Zealand and the FSA in Seychelles. Client funds are held in segregated accounts with tier-1 banks. However, neither regulator operates a compensation scheme comparable to the UK FSCS or the EU Investor Compensation Fund, and most international clients are onboarded by the Seychelles entity. This is the main reason for its lower regulation score.
- Main regulators
- FMA (New Zealand)
- Other group licences
- Investor protection
- No statutory compensation scheme comparable to the FSCS or ICF
- Segregated client funds
- Yes
- Parent company
- Black Bull Group Limited (private), Auckland
- Year founded
- 2014
Frequently asked questions
Yes. BlackBull Markets is regulated by the Financial Markets Authority (FMA) in New Zealand and the Financial Services Authority (FSA) in Seychelles.
No. The ECN Standard account has no minimum deposit. The ECN Prime and Institutional accounts require higher deposits.
BlackBull offers MetaTrader 4, MetaTrader 5, cTrader, TradingView, BlackBull Trade and BlackBull CopyTrader.
BlackBull alternatives
Brokers in the same category (Forex) with similar ratings, ranked by rating.
Ready to open an account with BlackBull?
Overall rating: 8.8/10
Trading CFDs involves a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Brokers.Forex has no affiliate partnership with BlackBull: this link earns no commission.