BlackBull Markets Review

The operation of BlackBull Markets started in Auckland, New Zealand in 2014, which has helped them gain years of institutional forex experience and has allowed them to provide resources for retail traders. The broker offers multiple trading solutions for its users together with proprietary software that aggregates powerful trading performance and competitive pricing.

The broker was founded as a prime broker for providing retail trading solutions, and apart from that provides professional services for money managers and institutional accounts together with PAMM and MAM accounts.

The legitimacy of the broker

It was confirmed that BlackBull Markets is registered with the NZ legislation regime, and this gives them reliability and good standing for the services it provides. This means that BlackBull Markets is a legit broker known for its compliance with the regulatory regime. The broker complies with the money protection policies and rules, including the provision of a safe trading environment and qualified service. Also, according to the FMA rules, clients are compensated in a case of insolvency.

Also, the company has an additional entity that is based in SVG which allows them to serve the countries that don’t allow the FMA registration but instead are accepted under the FSA alone. These countries include Albania, Barbados, Bahamas, Brazil, China, Egypt, Jamaica, Nigeria, Bolivia, Ghana, and Uganda.

As it stands, there is no difference between the FSA and FMA except for the document requirements during the process of account approval. Outside this, the trading conditions under either of the regulatory license is the same.

However, there are some restricted countries not accepted by either FMA or FSA because of the risk of money laundering or terrorism financing. On the list are Afghanistan, Belarus, the Central African Republic, Spain, Cuba, Iran, Iraq, North Korea, Ukraine, Yemen, the United States, Zimbabwe, and some others.

Different Account Types offered

The broker has three different types of accounts, which are all based on the ECN execution. These accounts, however, have competitive trading conditions and different portfolios, account sizes, and access to their trading rooms.

Also, the broker has defined and specific access for professional accounts and institutional traders where all trading conditions are sustained and tailored based on their request. By the way, there are some tailored solutions offered to active retail traders as well like VPS hosting and advanced reporting.

Trading Instruments, Fees, and Spread

BlackBull Markets allows its clients to gain exposure to different markets across the globe with access to more than 64 currency pairs, indices, commodities, metals, energies, and so on. This range allows for diversity portfolio especially considering an inbuilt proposal and good cost strategy.

When it comes to trading fees, BlackBull Markets charges through the spread and also through swaps and rollover fees which are charged when you keep trading longer than a day. Also, the broker charges some other non-trading fees like withdrawal fees. Though the broker doesn’t charge any deposit fees, they charge 5 units of your base currency. This means that they charge $5 for withdrawal if you are using USD or £5 if you are using pounds. This is to cover the transfer fees charged for bank remittance and other payment systems, according to the broker’s website.

Moving forward, the spread of this broker is competitively low. Regular traders with the ECN Standard account have a spread of 0.8, while professional traders with the ECN Prime account have a spread of 0.1 pips and a commission charge of $6 per trade.

Trading Platform and Auto-Trading

BlackBull Markets allows its users to trade on the popular MetaTrader 4 and MT5, which both offer a super convenient and user-friendly trading interface. The platform is suitable for both beginners and professional traders. This trading platform, however, is available for both desktop and mobile users.

For BlockBull Markets, there are no specific restrictions for the use of EAs (expert advisors) and hedging or scalping strategies. This means that, with the broker, you can attain maximum profitability in trading.

Conclusion

Altogether, considering the regulated trading environment and the advanced trading capabilities offered by BlackBull Markets, it is a broker to consider.

However, one of the seeming downsides of the broker is the lack of 24/7 support. But instead, depending on what you are looking for in a broker, you might want to look it up. Also, it is recommended that you read the reviews of existing users on the broker.