BlackBull Markets Broker Review 95

Overview/Background

The company started out of New Zealand in 2014 and quickly expanded around the world. BlackBull has developed an in-house trade-order aggregation software. It also provides analysis, personal account managers, and daily market condition updates.

BlackBull has received numerous awards in the past few years:

• 2020 Compare Forex Brokers Award for Best New Zealand Forex Broker
• 2019 Deloitte Fast 50 for Financial Services
• 2018 Deloitte Fast 50 for Fastest Growing Exporter
• 2018 APAC Technology Fast 500
  

Account Types

BlackBull offers three different ECN trading accounts: Standard, Prime, and Institutional. All of them have a minimum lot size of 0.01 and boast leverage of up to 1:500.

The ECN Standard account is for beginners. It has zero deposit requirements. With spreads start at 0.8 pips, and there are no commissions.

ECN Prime users must make a minimum deposit of US$2000. Spreads start from 0.1 pips, with a commission of $6.00 R/T per lot.

The ECN Institutional account requires a minimum deposit of US$20,000. Spreads start at 0.0 pips, with a commission of $4.00 R/T per lot.

Traders can open an Islamic account to avoid swap rates and rollover costs on overnight positions. You can select this type when you sign up for Standard or Prime. If you open an account in Malaysia or Indonesia, it’s automatically Islamic-compliant.

BlackBull also have BlackBull Invest app which allows you to trade on shares directly with access to over 26,000+ instruments across the global share market.

Trading Platform/Software

BlackBull have multiple platform available to use including the MetaTrader 4 (MT4) platform, MetaTrader MT5, TradingView and cTrader. It’s available for Windows, Mac, iPhone, Android, iPad, and tablet. WebTrader is an online version that allows you to access your account from any web browser and OS, including Linux.

Deposit Options

BlackBull offers multiple options for funding your account. They include:

• Debit or credit card (Visa or MasterCard)
• Bank wire
• Skrill
• Neteller
• FasaPay
• China UnionPay
• Crypto

You can make deposits in the following currencies:

• Australian Dollar (AUD)
• Canadian Dollar (CAD)
• British Pound (GBP)
• Japanese Yen (JPY)
• Euro (EUR)
• Singapore Dollar (SGD)
• New Zealand Dollar (NZD)
• United States Dollar (USD)
• South African Rand (ZAR)

When you need to make a deposit, log in to your BlackBull account and use the Client Portal. Bank wires typically take one to three days to process, but all other payment methods credit immediately.

Markets

BlackBull provides access to a variety of markets, including:

• Forex, with over 64 currency pairs
• Index CFDs for portfolio diversification
• Commodities
• Precious metals, including gold and silver
• Energy, such as natural gas and oil

Customer Support

The BlackBull website contains an FAQ section that addresses trader inquiries regarding:

• Account management
• Deposits and withdrawals
• Trading conditions
• Security
• MetaTrader 4
• Company info

If you can’t find the answers you need on that page, there’s a customer service desk open 24 hours a day, seven days a week. You can send your questions by email or call a New Zealand or Malaysia phone number. Support is available in multiple languages.

BlackBull also operates a support desk that provides more comprehensive help. It functions 24/7.

Safety

The broker has taken the following measures to ensure your money is safe:

• Regulation by the FSPR
• NDD broker (doesn’t create markets)
• Member of the FSCL dispute resolution scheme
• Segregated client accounts to avoid mixing with company funds
• Funds held in tier-one New Zealand banks
• Firm anti-money laundering policies 
• Near-instant client deposits
• 24-hour withdrawal policy
• Know your customer (KYC) policy for new clients and accounts

Ease-of-use

BlackBull has a speedy signup process. It may be possible to get your account up and running within as little as one business day. You’ll submit your information, and the broker will require you to prove your identity and where you live. The whole process occurs digitally.

BlackBull offers numerous deposit options, making it convenient to add money to your account. The broker makes an effort to process withdrawals within 24 hours, so you’ll have quick access to funds.

Support topics are available in order to show how MetaTrader works. Inexperienced clients can also use the on-site guide to learn how to trade. All of this helps make BlackBull easy for anyone to use.

Final Thoughts

BlackBull has grown tremendously since its founding several years ago. It’s earned a positive reputation by offering superb trading conditions without charging excessive fees.

BlackBull offers three main account categories, plus a few designed for specific groups. Regardless of the type you choose, you’ll get maximum leverage of 1:500. Such high rates are rare and are possible because New Zealand law doesn’t restrict them.

The market options at BlackBull aren’t as diverse as those of top brokers. However, they’re varied enough for traders who prefer to focus on major stock indices, metals, energies, and forex.

Overall, BlackBull is a reliable company with outstanding customer service. It strives to keep customer funds safe through multiple security measures. If you choose BlackBull, you’ll find it delivers what it promises for a reasonable fee.