BlackBull Markets Review

BlackBull Markets is a forex brokerage company from New Zealand that offers low fees for CFD trading. Their account opening process is relatively quick and entirely digital. They provide an enriched trading experience with educational resources like videos and texts. They also provide a demo account to get your feet wet with paper trading before you risk real money.

Given the array of options, it’s natural to have doubts about the suitability of this broker for you. That’s where this review comes into play. It is going to provide a thorough overview of the platform’s various features and highlight its benefits, as well as any areas where it may be falling short.

Make sure to read this review all the way through to gather the information you need before opening an account and beginning to trade.

BlackBull Markets Pros & Cons

Pros:

• Protection against negative balances
• Regulated by the respected FMA
• Video lessons
• Educational articles
• Demo account
• Tutorial for the trading platform
• Support via live chat and phone
• Market analyses
• The desktop and mobile platforms are customizable (charts and workspace) and offer a Price Alerts feature
• Credit/Debit card deposit option
• No deposit fees
• Multiple account base currencies
• Low forex fees

Cons:

• No banking license
• Lack of webinars
• Limited support availability (not 24/7)
• News coverage and analytic tools may be inadequate for experienced traders
• No two-step or Touch/Face ID verification process
• The web trading platform doesn’t have a feature for price alerts
• Withdrawal fees apply
• Prime Accounts require a minimum deposit of $2,000

Where BlackBull Markets Shines

• Innovative Features: BlackBull Markets generates a daily series that presents technical and fundamental analyses for specific trading symbols. For instance, the “Trade in 60 Seconds” series consists of one-minute recordings centered around a particular trading symbol, like a specific forex pair or CFD.
• Additional Benefits: With the introduction of BlackBull Shares, BlackBull Markets has notably broadened its market selection. The broker now presents a catalog of more than 26,000 tradable symbols, of which 2,500 are accessible on MetaTrader 5 and TradingView, while MetaTrader 4 offers 311 symbols.
  
  

Where BlackBull Markets Falls Short

• Limited Service: BlackBull Markets doesn’t provide a wide set of research tools. Also, users won’t encounter a high-quality news service.
• Limited Selection: The broker doesn’t offer bonds or ETFs; however, it does give you access to real stock investing which is quite refreshing in the world of CFD-focused brokers.

What is BlackBull Markets Best For?

The primary advantages of BlackBull Markets lie in its notably low forex and CFD fees. So, those who are interested in finding a broker to mainly trade CFDs are likely to find value in BlackBull Markets. This broker caters to that particular type of trader and less to the buy-and-hold investors due to its lack of ETFs.

BlackBull Markets at a Glance

Detailed Ratings

• Minimum trade: 5 out of 5 stars
  With this broker, the minimum trade is 0.01 lots. This is pretty much the norm among CFD brokers, hence the 5 stars here.
• Trading and transaction fees: 5 out of 5 stars
  Trading fees are relatively low with this broker. You may find some other brokers offering more competitive fee structures, but bear in mind that this one has built a great reputation and trust. Taking everything into consideration, going with this broker offers very competitive spreads if you are mainly interested in forex trading.
• Number of cryptocurrencies: 1 out of 5 stars
  The offering of crypto trading is complementary to what BlackBull Markets has to offer. This is obvious from the relatively low number of cryptocurrencies they offer (10). If you are looking for a broader collection of cryptos as well as a direct way to buy and store tokens, it’s recommended to use a crypto exchange.
• Crypto-to-crypto trading pairs: 1 out of 5 stars
  Unfortunately, BlackBull Markets doesn’t support crypto-to-crypto trading.
• Website transparency: 5 out of 5 stars
  No matter what you’re hoping to find, visiting the broker’s website will most likely provide all the answers you want. It has dedicated pages explaining how they protect your money when you trade with them, which authorities they’re regulated by, and everything related to the fees you will be charged while trading.
• Storage and security: 1 out of 5 stars
  Only CFD crypto trading is available, so that explains the absence of storage options when it comes to cryptocurrencies.
• Staking and rewards: 1 out of 5 stars
  Not available.
• Mobile app: 4 out of 5 stars
  With MetaTrader 4, BlackBull Markets presents an excellent mobile trading platform. It has a well-crafted and user-friendly interface with efficient search features and is available in multiple languages.Just like the web trading platform, the broker provides MetaTrader 4 as its mobile trading platform, which is accessible on both Android and iOS platforms. Additionally, you can download it through QR codes from Google Play and App Store.A drawback concerns safety. BlackBull Markets offers a single-step login for its mobile platform, but implementing a two-step login would definitely be better; adding biometric authentication would also enhance the protection.
• Customer support options: 4 out of 5 stars
  You have multiple communication options with BlackBull Markets; namely live chat, phone, and email. The live chat support is exceptional, providing quick and relevant responses; the same goes for phone support.Email support’s response time can fluctuate, however. Nonetheless, you are likely to encounter the same quality of support as with live chat and phone service. One drawback is the absence of round-the-clock availability because support operates solely on a 24/5 basis.

Other BlackBull Markets Features You Should Know

Another important feature offered by the broker is social trading, which allows traders to replicate the strategies of others in real time. BlackBull Markets facilitates it through Myfxbook and ZuluTrade.

Myfxbook functions as a social trading platform where users can share, analyze, track, and compare their trading endeavors. It also offers the option to automate trading by following chosen traders. To leverage this feature, a user simply needs to create a Myfxbook account and link it to their BlackBull Markets Account.

ZuluTrade operates as a peer-to-peer social trading platform that empowers users to emulate the trading strategies of numerous registered currency traders hailing from 192 countries. Utilizing ZuluTrade’s proprietary performance assessment algorithm and insights from its well-informed community, BlackBull Markets’ clients can tailor their trades to align with personal preferences and risk thresholds.

Conclusion: Is BlackBull Markets Right for You?

The trading experience offered by BlackBull Markets is very good overall, partly due to its competitive fee structure and trade execution.

Additionally, BlackBull Markets provides VPS hosting and supports API trading, making it a good option for advanced algorithmic trading strategies. The asset variety, especially for those focusing on equities, places BlackBull Markets among the top 5 brokers in the retail Forex/CFD sector. While the minimum deposit of $2,000 for the ECN Prime account is relatively high, it remains within acceptable limits.

If you are looking to mainly trade forex pairs at a relatively low cost, this CFD broker is a good choice. Despite some of its drawbacks, it’s hard to go wrong here if you’re an active trader. For crypto, however, this is not recommended because of the lack of direct token ownership, as well as the limited selection of cryptocurrencies.