BlackBull Markets is a forex broker located in New Zealand.
In this article, you’ll get a review of this broker, including analysis and instructions to open an account with BlackBull Markets.
Here’s what you’re going to learn:
BlackBull Markets is a forex broker located in Auckland, New Zealand, and was founded in 2014.
BlackBull Markets is a Forex broker that gives you a wide range of instruments to trade besides Forex.
Here’s a list of all of the instruments that you can trade with BlackBull Markets:
To open a real account with BlackBull Markets there’s no minimum deposit. You can deposit whatever amount that you want to trade with.
You don’t need to deposit anything if you’re just trying the broker and testing a demo account.
The BlackBull Markets leverage varies according to the product that you are trading.
Here’s the leverage provided by BlackBull Markets:
According to Trustpilot, BlackBull Markets is classified as great. It’s scoring an impressive 4.1/5.0. It just doesn’t have many reviews, only 6.
When you open an account with BlackBull Markets, you can be sure that you will be trading with a regulated broker.
The company itself is registered in New Zealand, the UK, and Seychelles.
The regulation comes from the FSA (Seychelles Financial Services Authority).
BlackBull Markets gives you access to the most popular trading platforms used by Forex brokers.
You can use:
They also have web and mobile versions, meaning that you can easily trade wherever you are.
There are three main account types provided by BlackBull Markets.
They are:
BlackBull Markets offers an Institutional account, which is meant for high-volume traders.
You get the same high leverage as in the other account types.
The main differences are the lower spreads and commissions. A bigger deposit is also required.
BlackBull markets don’t offer a deposit bonus. On the other hand, you can get awarded up to $250 for referring a friend.
Unfortunately, BlackBull Markets doesn’t offer a no-deposit bonus for new clients.
You can get a deposit bonus though if you refer a friend. Check the previous chapter of this article.
If you need to contact BlackBull Markets here are their contacts and location:
BlackBull Markets accepts a wide range of methods either to deposit or to withdraw.
Some of the payment methods may not be available, depending on your country.
Here’s a list of them:
Yes, BlackBull Markets offers a negative balance protection.
It’s not explicit on their contracts though, to prevent traders from abusing the system. Make sure that you contact them about this matter if this is important to you.
The BlackBull Markets margin call is 70%.
This means that you always need to maintain an equity that is bigger than the margin required to keep your positions open.
If your equity (Balance + Open Profit or Loss) falls below the required margin you will receive a margin call.
The BlackBull Markets margin stop out level is 50%.
What this means is that your free margin must always be above 50%. If it falls under this value, the platform will start to automatically close your positions to keep the free margin above the threshold.
Typically, the positions are closed from the largest losing position to the smallest one.
BlackBull Markets offers Micro Accounts to its customers.
This means that you can trade using micro lots, equivalent to 1,000 units of the base currency, which is the same as trading with a 0.01 lot size.
BlackBull Markets offers a free VPS subscription if your trading volume exceeds 20 lots per month, in Forex currency pairs or Metals.
Your account balance also must be at least $2,000 if you want to get the free VPS.
These VPS providers reduce the latency by up to 30%. Slippage is also reduced by having a faster connection.
If your thing is EA trading, and your trading volume exceeds the minimum threshold, then apply to your free VPS.
There’s no inactivity fee with BlackBull Markets. This is great because you can stop trading for the time that you want, and you can be sure that no inactivity fee will be charged to you.
Yes, BlackBull Markets is a legit broker and company.
On the other hand, it doesn’t provide services to residents of some countries, or a country where providing that service would be contrary to the local law or regulation.
There are no restrictions against hedging with your BlackBull Markets account. Heding accounts are the default with BlackBull Markets.
This means that you can open long and short positions on the same symbol at the same time.
If you don’t like hedging accounts, there’s also an alternative. They are called the NET accounts. With these types of accounts, on each specific symbol, you can only have one single position in one direction.
Net accounts are especially useful when you want to be able to add and reduce your position size.
You are allowed to do copy trading on your BlackBull Markets account.
The signals you copy can come from any source. They even have their own copy trading software that you can use.
BlackBull Markets offers a good variety of social trading sources like ZuluTrade or MyFXBook.
By using BlackBull Market’s social trading, you can copy trading strategies from other traders, replicating their performance. Just make sure that you choose your sources wisely to make the most of BlackBull Market’s social trading features.
When trading BlackBull Markets forex currency pairs, your lot sizes start at 0.01 and can go up to 200.
If you trade other symbols, like indices, or metals, the maximum lot sizes may vary.
BlackBull Markets has spreads starting as low as 0.
It depends on the account type that you choose though.
For most Forex currency pairs, the minimum spread is as low as 0, when you choose the ECN Institutional Account. This account charges commissions based on the lot size that you trade.
The ECN Prime Account offers spreads starting from 0.1 pips. It charges commissions too.
On the other hand, the ECN Standard Account doesn’t charge any commissions. The spreads will also be bigger, starting from 0.8 pips.
There is minimum amount to be able to request a withdrawal from BlackBull Markets is $1. This may change based on the withdrawal method that you chose.
However, there’s a withdrawal fee of $5. So, although you don’t need to meet a minimum withdrawal amount with BlackBull Markets, you must be aware of these fees that can reduce considerably the amount that you receive if your withdrawal amount is very small.
BlackBull Markets accepts residents from all over the world except some specific countries. BlackBull Markets doesn’t accept clients from the United States, Canada, and OFAC-sanctioned countries.
Here is a list of the best BlackBull Markets alternatives:
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BlackBull Markets is a forex broker located in New Zealand. In this article, you’ll get a review of this broker, including…