Blackbull Markets: A Retail Broker From New Zealand

July 26, 2020
Brokers
" class="img-responsive wp-image-731235 wp-post-image" alt="" />
At Yore Oyster, we strive to help you make wise financial decisions. We're committed to giving you the most relevant, actionable advice anywhere.

Blackbull Markets specializes in Forex, CFDs, commodities, fibre optic communications and fintech solutions for a global clientele. The broker offers you the opportunity to open various types of accounts. You can also choose between Metatrader 4 and Metatrader 5 as investment platforms. In addition, the broker offers you excellent customer support and plenty of funding and withdrawal options so that you can add capital to the investment platform without problems. If you are looking for a broker with these characteristics and that also offers you several alternatives to deposit and withdraw money from your account, Blackbull Markets may be a good alternative.

While it is true that Blackbull Market is a broker that has good characteristics in several aspects, we strongly believe that Capital.com is the best online trading platform because it is one of the easiest and cheapest ways to trade CFDs on equities, commodities, indices, Forex pairs and cryptocurrencies anywhere in the world. Capital.com offers you zero fees on intra-day trading, a lightning-fast web platform and their proprietary Negative Balance Protection. Also, Capital.com gives you the best chance at financial success with a clean, easy-to-use interface.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with Blackbull Markets and scored our findings on a 10-point scale across 10 distinct categories.
Fees 8
Signup Process 7
Minimum Deposit 10
Ease of Use 8
Deposit & Withdrawal Options 10
Customer Support 10
Asset Classes 6
Referral Program 0
Demo Account & Educational Resources 5
Safety & Regulation 6
Total 70

What is Blackbull Markets?

Blackbull Markets is a broker from New Zealand established in 2014 and is regulated by the Financial Services Authority (FSA) of Seychelles. Furthermore, Blackbull Markets does not have a trading desk and operates with No-Dealing Desk Broker (NDD), with Straight Through Processing (STP) all done on a true electronic comunicación network (ECN). In addition, the broker uses Tier 1 Banks to ensure deep, competitive and uninterrupted liquidity for any requested lot size.

It is important that you take into account that the broker does not provide its services to residents of the US, Russia and North Korea. Also, although it is a New Zealand broker, it only accepts professional New Zealand traders.

Pros & Cons

Pros

  • There is no spread for some accounts.
  • Segregated client funds.
  • No inactivity fees.
  • It is a registered broker.
  • Personal account manager.

Cons

  • There is a minimum initial deposit.
  • You will have to pay commissions to trade in some accounts.
  • Not much variety of financial assets.
  • Limited educational resources.
  • The demo account can only be used for 30 days.

Account Types

Blackbull Markets offers you the opportunity to choose between three different types of accounts:

  • Standard: Perfect for Traders who are just beginning. With no commissions and low spreads, it’s easy to get started.
  • Prime: True ECN experience with Straight Through Processing.  With a commission of just $3 USD per 100k traded and spreads starting at just 0.2 pips.
  • Institutional: For traders looking for institutional services and functionality. With the institutional account, you can tailor your spreads, commissions and more to create an account that suits you and your trading style.
Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.
scoring

#1 Blackbull Markets Fees

The commissions and spreads will depend on the type of account you decide to trade with. Below we present the different characteristics by type of account:

 StandardPrimeInstitutional
Spreads From0.80.10.0
Minimum Lot size0.010.010.39
Leverage up to1:2,51:2,5Negotiable
CommissionNo Commission$6.00 per LotCustom options

Additionally, Blackbull Markets does not charge inactivity fees or any fees for funding or withdrawal of funds. However, transfer fees are applied for the remitting bank or payment system provider. In any case, the broker loses a couple of points in this category because you will have to pay commissions on two of the accounts offered by Blackbull Markets.

Blackbull Markets Fees Score: 8/10

#2 Blackbull Markets Signup Process

The process of opening an account at Blackbull Markets is completely digital. In addition, you can access the broker’s web portal in 10 languages. Also, you can verify your account in a maximum of 2 days.

Documentation

When you open your account you must verify your identity. You will be asked to present one of the following proof of identity and address documents:

Proof of Identity (POI)

  • Scanned copy of an International Passport.  
  • A notarized version of your ID Card.  
  • Getting your identification certified.

Proof of Address (POA)

  • Bank Statement dated in the last 3 months.
  • Utility bill (gas, electricity or water bill) addressed to you and dated in the last 3 months.

Linking Photo

  • ID Card.
  • Passport.

At Blackbull Markets you must wait up to two days to manage your trading account. This aspect is essential because if you have seen an opportunity in the market that you want to take advantage of immediately, being able to open an account quickly offers you the possibility of obtaining the profits you hope to obtain.

Blackbull Markets Signup Process Score: 7/10

#3 Minimum Initial Deposit

In order for you to operate at Blackbull Markets, it is necessary that you meet a minimum initial deposit requirement. Below we present the different minimum initial deposit by type of account:

 Minimum Deposit
Standard$200 USD
Prime$2,000 USD
Institutional$20,000 USD

You can choose an account with a low minimum deposit in relation to other brokers. Below we show you the minimum initial deposit required by other brokers:

Broker                       Minimum Initial Deposit
Forex.com$100 USD
Pepperstone$200 USD
eToro$200 USD

For this reason, the broker is well qualified in this category.

Blackbull Markets Minimum Initial Deposit Score: 10/10

#4 Ease of Use

Blackbull Markets’ investment platform is excellent because it offers, for free, the possibility of trading with MetaTrader 4 and MetaTrader 5. We think it is excellent that MetaTrader 4 and 5 can be used because they are very useful platforms and are valued as one of the most used tools by traders in the world. You will be able to find a large number of chart options, indicators, and plotting tools.

You can also see several charts at the same time, you have customization options and you can even create environments. For example, environments for Forex, another for technology or financial sector.

Blackbull Market MT5

Blackbull Markets App

Using MT4 is not limited to your computer or the web; you can use MT4 on your cell phone too. The mobile application will allow you to use the same tools like the PC version. The app is very well rated in the Android store 4.6/5 and in the Apple app store 4.6/5.

Blackbull Market app

The investment platform is popular, efficient and offers very good tools but the broker loses points due to the time that you will have to invest to learn how to comfortably use the investment platform.

Blackbull Markets Ease of Use Score: 8/10

#5 Deposit & Withdrawal Options

You can make deposits and withdrawals on the Blackbull Markets investment platform easily and safely. Also, the broker accepts the following currencies.

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

Deposits Options

  • Bank transfer
  • Credit Cards: 
    • Visa
    • MasterCard
  • e-Wallets:
    • Skrill
    • Neteller
    • China Union Pay
    • FasaPay

Please note that the Skrill account is a USD account. You can still fund with multiple currency options, but doing so may incur exchange rate fees.

Take into account that bank deposits can take between 1 and 3 days to be processed. All other payment methods are instant, allowing you to manage your account finances in real-time.

Withdrawal Fees

The broker does not charge for sending payments. However, transfer fees are applied for remitting bank or payment system provider which are shown in the table below:

Withdrawal MethodWithdrawal Fee
Credit Card5.00 Base Account Currency
Neteller5.00 Base Account Currency
Skrill5.00 Base Account Currency
Bank Transfer20.00 Base Account Currency

Take into account that you can only withdraw up to the amount you have deposited via that method. This is due to BlackBull Markets’ strict AML Policies. Any additional profits must be sent via Bank Wire to a Bank Account proven to be your own.

In this category, Blackbull Markets is very well qualified for the diversity of currencies and funding methods.

Blackbull Markets Deposit & Withdrawal Options Score: 10/10

#6 Blackbull Markets Customer Support

Blackbull Markets has a good customer support service. The broker offers you several alternatives for you to communicate with the technical staff and you will be attended to without delay.

The broker’s customer support is fast and excellent. It offers several alternatives for you to communicate with the technical staff in several languages. These features give you the security you need to operate with peace of mind.

Blackbull Markets Customer Support Score: 10/10

#7 Asset Classes

Stocks

With Blackbull Markets you can only buy indices from the following global markets:

  • Australia
  • Germany
  • USA
  • UK
  • Japan

Currency Pairs

You can buy 64+ currency pairs. For example:

  • AUD/CAD
  • AUD/NZD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • GBP/JPY

Gold

You can trade gold on the investment platform.

While it is true that Blackbull Markets has a number of alternatives in most of the financial instruments it offers, unfortunately, you will not be able to invest in bonds, ETFs and cryptocurrencies. This factor reduces the diversification capacity of your portfolio.

However, if you are looking for a broker that offers you better alternatives, we can recommend the following articles “Capital.Com Review“, “Forex.com Review: The Global Forex Trading Specialist“, “Pepperstone Review: A Platform For Forex & CFDs” and “Interactive Brokers: Experience And Reliability In A Single Broker” there you will see that these brokers have a wider variety of financial assets

Blackbull Markets Asset Classes Score: 6/10

#8 Referral Program

At this time Blackbull Markets does not offer a referral program. For this reason, it is impossible to be able to assign points in this regard.

Blackbull Markets Referral Program Score: 0/10

#9 Demo Account & Educational Resources

Blackbull Markets allows you to open a demo account for 30 days. This wonderful tool will allow you to test your hypotheses and investment strategies without risk real money. It consists of a fictitious paper trading account, as it allows you to test the platform.

Blackbull Markets: Demo

Educational Resources

As for educational resources, Blackbull Markets falls short. The broker only offers a glossary of terms, 11 tutorial videos, economic calendar and trading guides.

The fact that Blackbull Markets only offers a demo account for 30 days makes it lose points because investors usually need more time to test the investment platforms. Also, the educational content is very limited. For these reasons, the broker loses half of the score in this category.

Take into account that if you are looking for a broker that is better qualified in this category we can recommend our articles “TD Ameritrade Review: An Investment Platform With Legacy” and “Interactive Brokers: Experience And Reliability In A Single Broker”. There you will see that these brokers are much more complete in these aspects.

Blackbull Markets Demo Account & Educational Resources Score: 5/10

#10 Blackbull Markets: Safety & Regulation

Black Bull Group Limited is a company registered and incorporated in New Zealand (NZBN 9429041417799) located at Level 22, 120 Albert Street, Auckland 1010. Also, Black Bull Group Limited is a registered Financial Services Provider (FSP403326) and holds a Derivative Issuer Licence issued by the Financial Markets Authority.

Additionally, Black Bull Group UK Limited is registered in the United Kingdom, Company Number – 9556804. Payment clearing services provided by BlackBull Group UK Limited (Company Number – 9556804) Address – 483 Green Lanes, London, Greater London, United Kingdom, N13 48S

BBG Limited is incorporated and regulated by the Financial Services Authority (FSA) of Seychelles

Although the broker is regulated, in general, the more solid brokers are regulated by more countries.

Blackbull Markets Safety & Regulation Score: 6/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to Capital.com, which scores 91/100 points across the 10 categories mentioned in this review.

Blackbull Markets vs. Capital.com

One of the most relevant aspects when giving the best and most profitable investment ideas a try is that you can find a platform that can add value to your strategies. Moreover, it should also allow you to be confident when investing your money by letting you do the best analysis possible at the same time offering you the lowest rates. Taking into account the most relevant aspects for an investor we prefer Capital.com over Blackbull Markets for the following reasons:

Quick and easy account opening

If you want to trade now without having to wait for days struggling to verify your trading account, we recommend you visit Capital.com. You can open your account and trade in less than 20 minutes.

It’s Easier To Use

While it is true that Blackbull Markets’ investment platform is good, we think that your best option is Capital.com. It has a very stable platform, is easy to use and is intuitive. Furthermore, it has an interface that follows the best data processing standards for traders.

we think that your best option is Capital.com. It has a very stable platform, is easy to use and is intuitive

It Provides More Educational Resources

At Capital.com you have more tools and options so you can study the market and create the best investment plans. For example, you will be able to access:

  • Free financial webinars.
  • Educational courses for traders.
  • Extensive market glossary.
  • Comprehensive CFD trading guide.
  • Cryptocurrency trading tutorial.
  • Investmate, Capital.com’s investor education app.

A Better Demo Account

One factor that is essential when testing an investment platform is being able to access a demo account. In this aspect, Blackbull Markets falls short because it does not offer an unlimited demo account to test each one of the tools and features of the investment portal with complete peace of mind and without precipitation. For this reason, Capital.com is ahead because it offers an unlimited demo account that replicates the same characteristics of a real money account.

The Best Investment options

Blackbull Markets has a good number of financial instruments that you can invest in. However, Capital.com offers you several possibilities because on its investment platform you will be able to access a greater number of financial instruments. This feature is really important because with Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios.

Capital.com Has Referral Program

Blackbull Markets does not have a Referral Program that allows you to earn bonuses so that you can gradually increase your capital. In contrast, Capital.com offers you a Referral Program that will allow you to earn 25 USD for each person you invite to invest in this wonderful investment platform.

Blackbull Markets In Summary

  • Blackbull Markets is a broker established in 2014 and is regulated by the Financial Services Authority (FSA) of Seychelles.
  • The company specializes in Forex, CFDs, commodities, fibre optic communications and fintech solutions for a global clientele. The broker offers you the opportunity to open various types of accounts.
  • With Blackbull Markets you can choose between different types of accounts: Standard, Prime and Institutional. Also, the commissions and spreads will depend on the type of account.
  • Blackbull Markets does not charge fees for funding, withdrawals or inactivity.
  • The process of opening an account is completely digital. In addition, you can access the broker’s web portal in 10 languages.
  • With Blackbull Markets, it is necessary that you meet the minimum initial deposit requirement.
  • The broker has a good customer support service and you can open a 30 days demo account.

If you are looking for a New Zealand broker with all these characteristics, Blackbull Markets is a good alternative.

In general terms, we think that Capital.com is a better option because it offers a broader base of investment options, doesn’t charge any fees on any asset that you trade, and the educational content is complete and useful. Also, the trading platform has an excellent interface and far better safety regulations. Capital.com is ideal for all types of investors. If you are a beginner or an experienced trader you will see that this wonderful broker is an ally that will allow you to fully exploit capital gains.

Get More Of Our Best

2021's Financial & Travel Essentials

Get our special report highlighting the 4 tools you need to build wealth and protect your assets in 2021.