Use the calculator below to compare BlackBull Markets’ trading costs with competitors like City Index and IC Markets. Adjust for trade size, currency pair, and base currency to see how BlackBull Markets stacks up against these brokers in terms of trading expenses. The ECN Standard Account, with no commissions and wider spreads, is typically preferred by beginner traders. The ECN Prime Account, offering lower spreads with commission fees, is ideal for experienced, high-volume traders. For those seeking customised solutions and lower commissions, the ECN Institutional Account is the best fit.
Removed all profits after 2 years trading
He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. After almost two years of trading, they decided to remove all profits (10k). They never bothered to show any evidence, or give a detailed explanation. All they said was that my trading account “appears to exploit specific market conditions”.
Forex commissions at BlackBull Markets are between $4.00 and $6.00 per 1.0 standard round lot, dependent on the account type. BlackBull Markets makes money from spreads, commissions, and swap rates on leveraged overnight positions. Regrettably, BlackBull Markets limits its demo account to just 30 xcritical scammers days, and it is only available on the MT4 trading platform. While the trading conditions are not identical to a live one, BlackBull Markets should allow for longer than 30 days. 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.
BlackBull Markets also allows its clients to connect their accounts to TradingView, an active community with 30M+ traders. Since BlackBull Markets is a FinTech company, I would like to see a proprietary solution. MT4 remains the leader in algorithmic trading, but MT4 and MT5 support it, and both have a built-in copy-trading system. BlackBull Markets offers MT4/MT5 as a desktop client, webtrader, and mobile app. BlackBull Markets offers traders an excellent asset selection, placing it in the Top 5 brokers in the industry. Forex traders get 60+ currency pairs, but the bulk consists of 23,000+ equity CFD and the underlying asset for direct share dealing from 80+ global stock exchanges.
I have had an excellent customer…
This process ensures an accurate and up to date analysis of brokers spreads. Also available is TradingView, a popular trading platform that delivers a range of powerful charting functions and robust analysis tools. More recently, BlackBull further expanded its platform offering with the addition of its web-based BlackBull Trade platform powered by DXTrade. ForexBrokers.com has been reviewing online xcritical forex brokers for over eight years, and our reviews are the most cited in the industry.
Best customer service
BlackBull Markets, established ten years ago in Auckland, New Zealand, is still expanding its international presence, evident from a monthly search volume of 8,100. Despite this, it is a leading broker in New Zealand that is highly regarded in the local market. BlackBull Markets achieves rapid order execution through globally distributed servers, including the NY4 Equinix data centre in New York and others in London, Japan, Hong Kong, and Shanghai. These tools collectively offer BlackBull Markets’ clients a range of options to automate, analyse, and optimise their trading activities. BlackBull Markets provides three account types with distinct pricing structures. Read our full explanation and accounting of our research and testing process to learn more about how we test.
Once more the client support of BlackBull Markets stands out
The demo account options include MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, BlackBull CopyTrader, and BlackBull Shares. These demo accounts provide a risk-free environment for traders to hone their skills and test strategies on different platforms offered by BlackBull Markets. For example, the addition of quizzes and progress tracking features could help BlackBull further improve its educational offering for retail traders. The minimum deposit for the BlackBull Markets ECN Standard account is $0, for the ECN Prime $2,000, and for the Institutional one $20,000.
In our 2024 tests, BlackBull Markets demonstrated the fastest execution speeds among all brokers we evaluated. Other features we like are their competitive spreads for ECN trading (from 0.1 pips) with the ECN Prime account and a surprisingly large range of trading platforms and copy trading tools. While there is a small withdrawal fee and a high minimum deposit requirement for an ECN Prime account, overall, Black Bull Markets is an impressive Forex broker with which to trade. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.
- Forex traders get 60+ currency pairs, but the bulk consists of 23,000+ equity CFD and the underlying asset for direct share dealing from 80+ global stock exchanges.
- Other features we like are their competitive spreads for ECN trading (from 0.1 pips) with the ECN Prime account and a surprisingly large range of trading platforms and copy trading tools.
- It results in a broad-based choice of trading instruments ideal for demanding asset managers and long-term dividend income-generating portfolios.
- BlackBull Markets offers a range of fee-free funding methods while requiring no minimum deposit to start trading.
This is a swap-free account designed for Islamic traders who are prohibited from paying or receiving interest. Provided you can prove you are of Islamic faith, you will be able to use this pricing structure with any of the Standard, Prime, or Institutional account types. She was very kind and approved my documents needed for verification just after few hours I sent them. BlackBull Markets offers cryptocurrency CFDs, but not physical cryptocurrency trading. Clicking on Live Account on the homepage of BlackBull Markets opens the four-step online application process.
Withdrawals above the deposit amount using payment processors are not possible. BlackBull allows traders to deposit any amount they wish following the initial minimum deposit. Traders have access to customer support 24/7 via live chat, which I find the most convenient form to connect. A phone number, including a toll-free for New Zealand, and nine e-mail addresses are also listed, one with support in Chinese. I appreciate the transparency at BlackBull Markets, as fully detailed contact information is provided.
From a security perspective, client deposits remain well-protected, but I cannot ignore the absence of negative balance protection, particularly for leveraged trading accounts. BlackBull’s fee structure is favorably structured for active traders, including discounts for high-volume trading. The average spread cost for the EUR/USD pair using a Prime account stands at 0.76 after factoring in commissions, which is about industry average. CFDs are complex instruments and come with 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. Overall Blackbull Markets review shows they are a good choice for New Zealanders wanting a forex broker that offers FMA regulation and has ECN trading with low spreads.
All BrokerNotes content is researched, fact-checked, and edited by the research team. BlackBull is a broker considered to be of “Average Risk” with a trust score of 78 based on rankings from ForexBrokers.com, providing a relatively secure trading environment. BlackBull Markets offers 24/7 customer support via live chat, email, and phone, ensuring clients have continuous access to assistance. BlackBull Markets trading experience is further enhanced by their use of Virtual Private Servers (VPS) in partnership with BeeksFX and BeekFX, reducing trading latency by up to 30%. This reduction is vital for strategies like scalping and automated trading, as it minimises slippage risks and ensures accurate trade execution.