Established in 2014, BlackBull Markets is now an award-winning broker. initially catered to the institutional market, but now also offers its features/services to the retail market/traders. Situated in New Zealand’s Auckland city, BlackBull has also set up its office in Malaysia’s Kuala Lumpur region. In addition to trading many Forex pairs, the brokerage also allows its users to trade CFDs, commodities, Fintech solutions as well as Fibre Optic Communications.

Pros

·        The brokerage has won multiple awards for its unique technology and innovation.

·        Offers an easy to use platform for trading along with illustrated and extensive knowledge and FAQs around trading.

·        Customer support services are available on a 24/6 basis.

·        Excellent regulatory standards and status to ensure safety of client funds.

·        MT4 platform for trading along with excellent ECN executions as well as access to liquid funds.

·       NDD or No Dealing Desk broker, which implies that the broker never alters the orders of trader in any way.

·       Offer STP or Straight Through Processing services to facilitate trading.

·        Over 60 instruments for trading and outstanding market coverage that enables traders to trade a wide range of forex pairs as well as crosses and exotics.

 

·       The broker features the highly advanced Equinix NY4 servers and offers segregated of client funds.nd 

Cons

·        The registration procedure at BlackBull is slightly difficult. At times traders face problems during the submission process of their documents as the broker does not accept the documents readily.

 

·        Despite being located in New Zealand, the broker does not accept local clients. 

·        2.5% credit card fee.

Overall Ranking

Overall

Investment Opportunity

Commissions & Fees

Safety 

Research

Smartphone Usage

 Customer Service

 Education

Platforms & Tools

4/5
3/5
4/5
5/5
4/5
5/5
4/5
3/5
5/5

Overall

4/5

Investment Opportunity

3/5

Commissions & Fees

4/5

Safety 

5/5

Research

4/5

Smartphone Usage

5/5

Customer Service

4/5

Education

3/5

Platforms & Tools

5/5

Extended Review and Information

BlackBull has made it to our top brokers list for September 2019. The broker offers a user-friendly trading platform to both experienced as well as beginner traders. We tested the site for a couple of hours and noted a number of positive features/aspects of the broker. One of the first things that we noticed was that the platform functions efficiently on both computers and the smartphone. When you visit the website, you’ll notice that it has an excellent layout with charts, research, comments and every other piece of information beautifully displayed on it. 

The broker offers the highly reliable MetaTrader 4 platform for trading. The platform is also mobile compatible, which implies that you can easily access your trading account through your iPhone, iPad, Mac and Android phones, while on the go.

One of the drawbacks with BlackBull is that at times traders face issue with getting their documents accepted at the time of submission. Also, as discussed previously, even though the broker has an office in New Zealand, it does not accept local traders. Another flaw is that they recently decided to avoid allowing the trading of Cryptocurrencies on their platform.

How to Open your Account

The account opening process at BlackBull is pretty simple and straight forward. Traders basically have the option of creating 3 different types of accounts including the Standard Account, which has been exclusively designed for the beginners. The minimum amount for setting up this type of account is 200 dollars. It offers spreads from 0.8 pips, no commission and a maximum leverage of 1:500. The next type of account is the Prime Account which provides STP execution as well as spreads starting at 0.1 pips and the maximum leverage is 1:500.

Finally, traders with sufficient experience can opt for the institutional account. The minimum deposit amount for opening this account is 20,000 dollars. Apart from this, there is also a provision for creating the Islamic or Sharia-compliant trading account.

The live account opening process is quick and hassle-free. Traders simply need to provide a proof of identification, address proof and their picture holding the ID/Passport. The account verification process usually takes no more than 48 hours. BlackBull will not accept clients from:

·        New Zealand

·        U.S.

·        Belgium

Depositing Methods

In order to deposit money with BlackBull, you must log into your account via Client Portal. Within the Client Portal, traders will find many different methods of depositing funds such as:

·        MasterCard

·        Visa

·        Skrill

·        Neteller

·        FasaPay

·        China Union Pay

Apart from this, the broker also accepts Bank Wire transfer that usually takes 1-3 days of time. 

Please note: If using a credit card to deposit, this broker has decided to charge a 2.5% credit card fee since November 2019.

Withdrawal Methods

Withdrawals are processed in a matter of 24 hours. The credit card withdrawals may take anywhere between 3-5 days.

 

Traders looking to withdraw funds from their accounts need to submit a request for the same through the broker’s Client Portal. Withdrawals can be done via credit cards (MasterCard, Visa). But the credit card should be linked with a PSP e.g Neteller or Skrill.

Regulations and Jurisdictions

The broker is registered within the Financial Markets Conduct Act 2013 of New Zealand and its regulatory body is the FMA or the Financial Markets Authority. This requires the broker to have an office in New Zealand along with a manager who is also a resident of the country.

The broker keeps clients funds into segregated accounts and also adheres to stringent AML or Anti-Money Laundering policies. BlackBull is also an NZ FSCL’s member (Financial Services Complaints Limited), which is an independent organization capable of resolving any financial issues that may arise as a result of trading. 

Conclusion

Overall, BlackBull is a great broker which strives to put their clients first. They go the extra mile in providing the swiftest and easiest service, with a large number of rare and exotic instruments to choose from. BlackBull also have 24/5 customer support ready to help at a high quality professional service.

To improve, BlackBull must sort out their registration process to make things run more smoothly. In addition, BlackBull does have many exotic instruments to trade with, but it lacks overall variety, which could be a problem for traders who are not into finding a niche. However, despite these minor negatives, BlackBull is a wonderful and safe space for traders of all levels, and we highly recommend this broker.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68.15% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. This does not constitute as investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results.

This website and the information provided does not constitute investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results. The information given is a reflection of opinion. Trading CFDs on leverage involves significant risk of loss to your capital.