Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. BlackBull Markets offers multiple platforms, including the full MetaTrader suite (MetaTrader 4 and MetaTrader 5), cTrader, TradingView, and multiple social copy trading apps. 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.

Research and Education

1. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
2. From a security perspective, client deposits remain well-protected, but I cannot ignore the absence of negative balance protection, particularly for leveraged trading accounts.
3. 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.
4. The table below summarizes the different investment products available to BlackBull Markets clients.
5. BlackBull’s fee structure is favorably structured for active traders, including discounts for high-volume trading.

The one thing I could not find, which left me disappointed, was a reference to negative balance protection. It appears that BlackBull Markets does not offer it, making highly leveraged trading an especially high-risk approach with this broker. I searched their legal documents, but none confirmed the existence of negative balance protection.

BlackBull is highly suitable for beginners, providing extensive educational resources that include videos for both novice and advanced traders, making it an ideal platform for new traders to start their trading journey. Beginner traders get fifteen videos, and numerous short Trading Guides, offering an in-depth introduction to trading. While I prefer more content, BlackBull Markets presents enough information for beginners. BlackBull Markets recently expanded its market research coverage with the acquisition of research firm ATM Strategy. Considerable progress has been made in the broker’s research offering, though BlackBull Markets still trails behind the instaforex review best forex and CFD brokers in this category.

I have conducted an in-depth review to determine if their advertised ECN, deep liquidity, and price aggregation, as well as institution-level pricing for retail traders, lives up to the hype. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). I like that BlackBull Markets offers the FIX API, allowing algorithmic traders to connect advanced trading solutions. Free VPS hosting from NYC Servers or BeeksFX is available for ECN Prime accounts with trading volume above 20 lots, which is an offer I find reasonable.

Blackbull Markets Bonuses

BlackBull Markets delivers all three, and I especially like the underlying technology they utilize to achieve this. It ensures high-speed trading and offers scalpers and other high-frequency traders the precision trading they require. It would be great if they could in the future offer a wider selection of assets to trade. BlackBull Markets offers the full MetaTrader suite, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for desktop and web, and BlackBull Markets’ own BlackBull Shares platform (powered by Interactive Brokers’ TWS platform). Also available is TradingView, a popular trading platform that delivers a range of powerful charting functions and robust analysis tools.

I appreciate the transparency at BlackBull Markets, as fully detailed contact information is provided. Founded in 2014, BlackBull Markets is a forex and CFD broker headquartered in New Zealand. The broker has been fully authorized by the Financial Markets Authority (FMA) in New Zealand since 2020, and registered on the Financial Services Provider Register (FSPR) since the end of 2014. The BlackBull Markets brand also holds a license in the offshore island nation of Seychelles with the Financial Services Authority (FSA). In May 2023, BlackBull Markets received an investment from Milford Asset Management, a prominent private equity firm in New Zealand, which included the appointment of an independent Chairman.

From a security perspective, client deposits remain well-protected, but I cannot ignore the absence of negative balance protection, particularly for leveraged trading accounts. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. Three requirements any successful trader needs from an ECN/NDD trading environment are deep liquidity, institution-level pricing, and high leverage.

A typical raw spread of only 0.1 pips during the London/New York overlap is very competitive and an excellent offer from BlackBull. In my opinion, this is arguably a little high, but well within an acceptable range. High-volume traders may negotiate rebates with BlackBull Markets, and I appreciate the flexibility this broker provides in that department.

BlackBull Markets is a maturing broker that has been in operation for nearly a decade and has made great strides over the last two years toward improving its value proposition to traders and investors. In our 2024 Annual Awards, blackbull markets review BlackBull earned Best in Class honors for our Offering of Investments category. That said, BlackBull still has room to further improve against the competition. We’d love to see the broker acquire more regulatory licenses in Tier-1 jurisdictions, which would only improve its Trust Score.

How do I withdraw money from BlackBull Markets?

ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. 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. While the minimum deposit for ECN Prime remains higher than some competitive brokers, I found them justifiable by cost and services provided and, therefore, acceptable and an excellent value for deposit requirement. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

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. It results in a broad-based choice of trading instruments ideal for demanding asset managers and long-term dividend income-generating portfolios. BlackBull Markets has also added cryptocurrency CFDs, and the only asset class not offered is ETFs. I like the spreads available at BlackBull Markets, which confirm the existence of institution-level pricing for retail traders.

Trading costs at BlackBull Markets are about average for the industry, and will vary depending on which of its three account types you choose. BlackBull Market is a legit broker regulated in New Zealand, the UK, and Seychelles with an exceptional regulatory track record. BlackBull Markets has a regulatory license from the FMA in New Zealand and the FSA in Seychelles. The research also consists of technical analysis, but the entire package costs $45 monthly. Regrettably, BlackBull Markets limits its demo account to just 30 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.

Blackbull Markets Trading Platforms

BlackBull Markets has significantly expanded its range of markets with the launch of BlackBull Shares. Today, BlackBull offers over 26,000 tradeable symbols; 2,500 are available on MetaTrader 5 (716 in Prime account) and TradingView, and 311 symbols on MetaTrader 4. The table below summarizes the different investment products available to BlackBull Markets clients. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.