Trading Guide

BlackBull Markets Review: Scam Or Legit?

BlackBull Markets is a basic MetaTrader broker with an expanding product lineup and support for a few third-party social copy trading platforms.

BlackBull Markets, on the other hand, is failing to compete with the leading forex brokers due to its lack of teaching and research materials.

What is BlackBull Markets

BlackBull Markets is a Forex broker and FinTech firm based in New Zealand. It takes pride in its speed and accuracy, offering traders ECN/NDD execution with deep liquidity via the MT4/MT5 trading platforms.

We investigated whether their promised ECN, deep liquidity and price aggregation, as well as institution-level pricing for retail traders, live up to the expectations.

BlackBull Markets Pros and Cons

Low FX and CFD costs are available at BlackBull Markets. The account opening process is simple, quick, and completely digital.

Great teaching aids, including videos, books, and a demo account, complement the trading experience.

There is a withdrawal cost on the downside. The research tools are minimal, and the Prime Account requires a large initial commitment.

ProsCons
Available to residents of New Zealand – unlike many brokers that don’t have the required full FMA license.Lacks tier-one regulatory licenses – including within the EU.
Provides the full MetaTrader suite (MT4 and MT5).BlackBull’s Seychelles-licensed entity only offers light regulatory protection.
Supports multiple third-party copy trading platforms, such as ZuluTrade and Myfxbook.The narrow scope of BlackBull’s research and educational content can’t compete with what the best MetaTrader brokers offer.
Integration with the TradingView web platform was made available in 2021.Based on the average spreads we obtained, commissions and fees at BlackBull Markets appear to be in line with the industry average.
Great educational tools$2,000 minimum deposit for Prime Accounts

Features and Attractions of BlackBull Markets

There are no deposit fees and cheap forex and CFD trading costs at BlackBull Markets. Withdrawal, on the other hand, incurs a fee.

See the features of BlackBull Markets

Country of regulationNew Zealand, Seychelles
Trading fees classLow
Inactivity fee chargedNo
Withdrawal fee amount$5
Minimum deposit$2,000
Time to open an account1 Day
Deposit with a bank cardAvailable
Depositing with an electronic walletAvailable
Number of base currencies supported9
Demo account providedYes
Products OfferedStock, Forex, CFD

Commissions and Fees

BlackBull Markets’ trading charges are around normal for the industry, and they vary based on which of the three account types you choose.

Spreads:

In October 2021, the Standard account’s average spread was 1.25 pips, making it more expensive than BlackBull Markets’ ECN Prime account (my preferred choice).

The effective average spread for the EUR/USD in October 2021 is 0.824 after accounting for the round-trip commission equivalent of 0.6 pips per trade on the ECN Prime account.

Comparison of accounts: The Standard account is free of commissions and simply requires a $200 deposit. The ECN Prime account has tighter spreads but requires a $2,000 minimum deposit and a $3 per side or $6 round turn per lot commission.

The ECN Institutional account is BlackBull’s more exclusive alternative for active traders with a minimum deposit of $20,000, with commission rates negotiated on a case-by-case basis with the broker.

Mobile Trading Apps

BlackBull Markets lags behind industry giants IG and Saxo Bank due to the lack of a proprietary mobile app. Read our Best Forex Trading Applications guide for our top selections among trading apps.

Overview of Apps: As a MetaTrader-only broker, BlackBull Markets provides iOS and Android versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps, which may be downloaded from the Apple App Store and Google Play Store, respectively.

Market Research

In comparison to the leading FX and CFD brokers in this area, BlackBull Markets does not offer a comprehensive range of market research coverage in written or audio-visual format.

A daily series of technical and fundamental analyses for certain trading symbols are produced by BlackBull Markets.

The Trade in 60 Seconds series, for example, consists of one-minute recordings that focus on a certain trading symbol, such as a specific currency pair or CFD.

Market news and analysis: BlackBull Markets’ in-house staff produces high-quality Market Reviews articles and a variety of films that provide depth from a technical and fundamental analysis standpoint.

We were just sad that there isn’t more everyday content available. Resuming live stream production, as well as expanding daily content, would be a step in the right direction for BlackBull Markets.

In comparison to the market leaders, increasing the volume and scope of research will assist BlackBull Markets to enhance its score in this category.

Education

The total instructional offering of BlackBull Markets has a long way to catch up to the best FX brokers for beginners.

Learning center: BlackBull Markets has an education part on its website, with categories including “Learn To Trade.” However, most of these lack thorough materials. The only videos in this section are platform tutorials, which, while useful in terms of product, are not educational.

However, it’s worth noting that BlackBull Markets offers a YouTube channel with a series of informative films. I thought they were of good quality, especially the Whiteboard Wizards playlist.

There is a need for improvement in the Trading Videos section, which only offers about a half-dozen videos that focus on platform tutorials rather than forex trading ideas.

BlackBull Markets’ instructional offering will be improved by adding more advanced educational films and improving the total selection of video content.

FeaturesBlackBull Markets
Has Education – Forex or CFDsNo
Client WebinarsNo
Client Webinars (Archived)Yes
Videos – Beginner Trading VideosYes
Videos – Advanced Trading VideosNo
Investor Dictionary (Glossary)Yes

Is BlackBull Scam or Legit

There is no evidence to support the claim that BlackBull is a scam. Black Bull Group Limited is a registered and incorporated company in New Zealand that is also regulated by the local authority FMA. This means that Black Bull Group Limited provides low-risk Forex and CFD trading.

Conclusion

Despite a growing product offering on MetaTrader and support for social copy trading tools, BlackBull Markets trails the best brokers in numerous critical areas, including education and research.

It’s also worth noting that, because of its limited number of regulatory licenses, BlackBull Markets now has a low Trust Score.

BlackBull Markets is a very new brokerage that still has a lot of potentials to grow in order to compete. There are more reliable brokers available till it does.

Hope this article was informative, please hit the share button to share this link with others traders out there. hope to see you here again because we always have new content published every day, have a blessed day ahead and God bless you.

FAQs

Is BlackBull a Good Broker?
BlackBull Markets is a global forex broker founded in 2014. The company is regulated by the Financial Markets Authority of New Zealand (FMA) and the Financial Services Authority of Seychelles (FSA). BlackBull Markets is considered safe because it’s regulated by the top-tier FMA of New Zealand.
As a South African forex trader, you aren’t required to deal with an FSCA-regulated broker, but it provides you with an added level of security.
The Main Source of Income Are Broker Fees
As a South African forex trader, you aren’t required to deal with an FSCA-regulated broker, but it provides you with an added level of security.

Some Forex brokers will charge a commission per trade, while others will charge the spread between the bid/ask prices. The main way that Forex brokers make money is by keeping the spread or charging a set fee per round turn.

Some Forex brokers will charge a commission per trade, while others will charge the spread between the bid/ask prices. The main way that Forex brokers make money is by keeping the spread or charging a set fee per round turn.

By marking up prices that end up increasing the spread (difference between buy and sell prices) or by selling your orders to big funds that they have a deal with, which also will end up marking up prices or squeezing micro profits out of your trades.

1. It is possible to make money trading money when the prices of foreign currencies rise and fall.

2. Currencies are traded in pairs.

3. Buying and selling currency can be very profitable for active traders because of low trading costs, diverse markets, and the availability of high leverage.

Heartz Team.

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