BlackBull Markets: Expert Review 2024

Home page of BlackBull Markets

Pros and Cons of BlackBull Markets

Evaluating the highly impacting factors

Trade with BlackBull Markets if

• You want a broker with multiple trading platforms.
• You want a broker with round-the-clock customer care service.
• You want a broker that offers numerous educational resources.
• You want a broker that offers low fees and an ECN (Electronic Communication Network) execution.

Don’t trade with BlackBull Markets if

• Do you want bonuses or expect promotional packages?
• You reside in any of the restricted countries.

Verified office address

Verified address of BlackBull Markets

BlackBull Markets’ registered address is at the JUC Building, Office F7B, Providence Zone 18, Mahe, Seychelles.

Regulations and Security

Regulation and Security of BlackBull Markets

Regulation

As a New Zealand-based broker, BlackBull Markets primarily operates under the country’s Financial Markets Authority (FMA) regulation. Similarly, the broker’s subsidiary, BBG Limited, operates under the supervision of the Financial Services Authority (FSA) in Seychelles.

While upholding the regulatory standards, BlackBull Markets protects its clients by keeping their funds in a Tier-1 New Zealand-based bank segregated account. This ensures that clients can still get their money back regardless of what happens to the broker.

BlackBull Markets is committed to implementing robust security measures to protect against fraud, malpractices, and money laundering. This dedication to security should reassure potential traders and investors of their safety.

Security

I reviewed the security instalments at BlackBull Markets and found that they were consistent with those of other top-tier brokers.

The platform has a two-factor authentication feature, which means third parties can not log into your account. The broker also uses strong encryption to secure users’ personal and trading data.

Expert Opinion on BlackBull Markets

EA Trading Academy says BlackBull Markets is a reliable broker with competitive spreads and multiple trading opportunities. However, the reviewer mentioned that the broker has limited educational resources.

EA Trading Academy review of BlackBull Markets

Top Forex Brokers Review opines that BlackBull Markets’ low forex and CFD fees are outstanding features. The review platform also praises the broker for its seamless registration process and educational tools.

Top Forex Brokers Review of BlackBull Markets

In AtoZ Markets’ review, it was concluded that BlackBull Markets is a reliable and secure broker. “The broker’s primary focus is to provide institutional-level services to retail traders.

AtoZ Markets review of BlackBull Markets

Expert Review of BlackBull Markets

Based on my experience, I highly recommend BlackBull Markets for beginners and experienced traders. The broker offers multiple trading options, various trading platforms, a free demo account, a helpful customer support team, and valuable educational resources to assist traders at any level.

Additionally, their competitive fees are a significant advantage. However, my main concern is the broker’s restriction in many countries, which can alienate a portion of its potential customer base.

Signup Process and Verification

The sign-up process for BlackBull Markets

Singing up on BlackBull is straightforward; signing up only took a few minutes. These are some steps on how to go about it:

• Go to the BlackBull website
• Put in your email address
• Click “Join Now”
• Also, you can sign up using Google, Facebook, or even your Apple ID.

You must verify your identity and input a password regardless of your chosen method.

BlackBull requires its users to upload a photo ID and proof of address. After uploading these, you may have to wait a while for the system to verify and approve your details. Once your details have been verified, you can log in to the platform, choose your trading conditions, make a deposit, and start trading.

Dashboard of BlackBull Markets

Dashboard of Black Bull Markets

BlackBull Markets’ dashboard was quite simple, straightforward, and organized. Once I logged in, I could access a live account where I managed my trades and portfolio. Depending on my account, I also found technical analysis tools with at least 30 built-in indicators.

Additionally, there were different payment methods for deposits and withdrawals, as well as other features like “Refer a Friend,” a copy trading service, and partnership programs.

Deposit and Withdrawal

Depositing funds on BlackBull Markets

Deposit

I discovered that BlackBull Markets offers users a range of secure and efficient deposit methods. Hence, you have the option of choosing your preferred method.

These methods include bank transfers, credit cards, e-wallets, and cryptocurrency. The deposit process is quick and hassle-free, and it has a user-friendly interface.

These are some conditions for depositing:

• The minimum and maximum deposit depends on the payment method used.
• Processing times are typically instant except for bank transfers, which take between 1 and 2 business days, and some e-wallet transactions, which take up to 48 hours.
• Some payment methods are limited to specific regions.
• While some methods support different currencies, others have fixed currency support.
• For methods with fixed currency support, exchange fees may apply for deposits with other currencies.

Withdrawal

While deposit and withdrawal methods may differ for other brokers, I deduced that BlackBull Markets uses the same techniques. This means you can withdraw funds from your trading account using the same method you used to fund it or any other methods provided.

These are some conditions for withdrawal:

• You cannot withdraw or transfer the funds from the demo account to a real account.
• Processing time will depend on the method you’re using.
• Where the broker doesn’t charge withdrawal fees, third-party platforms may deduct specific fees from your balance or the proposed withdrawal amount.

Trading Conditions

Trading conditions on BlackBull Markets

BlackBull offers different trading conditions that benefit all types of traders. They are:

• It does not charge any commission fee.
• It has a minimum trading leverage of 1:1.
• Spreads starting from 0:0 pips.
• It has a maximum trading leverage of 1:500.
• Default account currency in USD.
• There is no minimum deposit requirement.
• It provides 24/7 customer care service.
• It does not charge any deposit fee.
• It has multiple trading platforms like MT4, MT5, WebTrader, BlackBull Trade, and BlackBull Shares.

BlackBull Markets has three different trading accounts that cater to various trading categories. Let’s examine each one.

Trading Account Types of BlackBull Markets

ECN Standard Account

From my review, this account is the most suitable option for beginners. The account requires no minimum deposit. So, without making any deposits, you can open a BlackBull Markets ECN standard account to trade assets with spreads as low as 0.8 pips and leverage of up to 1:500. Other perks of this account are its commission-free features and swap-free Islamic account.

ECN Prime Account

You can open an ECN Prime account at BlackBull Markets with a minimum deposit of $2,000. This is the most popular of the three accounts and is designed for more experienced traders. It has the same leverage as the standard account but a tighter spread of 0.1 pips. The account is swap-free but has a commission of $6 per lot.

ECN Institutional Account

This is the account designed for high-volume traders. As expected, it has a higher minimum deposit than the other two accounts but has more advanced features. You can have an institutional account with $20,000. Other features of the account include spreads starting from 0.0pips, leverage up to 1:500, and a commission of $4 per lot.

How to start Trading with BlackBull Markets

How to start trading on BlackBull Markets 

These are the steps to take before you can successfully start trading on BlackBull Markets:

• Go to the BlackBull Markets website
• Log in to your account
• Open a trading account (either Live or Demo)
• Fund your trading account
• Download and install a trading platform
• Explore the platform and educate yourself about it
• Begin trading
• Monitor your trades

Valuable tools for traders by BlackBull Markets

Valuable tools for traders by BlackBull Markets 

These are tools that helped me identify and maximize trading opportunities on BlackBull Markets:

Blackbull CopyTrader

It is a proprietary platform that allows you to copy the trades of more seasoned traders in real time. You can choose from many signal providers, analyse their performance, and automatically copy their trades.

VPS Trading (Virtual Private Server)

A virtual computer ensures that your trading platform (e.g., MetaTrader 4/5) continues to run on the server despite network or power problems. If you fulfil Blackbull Markets’ conditions, you can get a free VPS.

FIX API Trading (Financial Information eXchange)

BlackBull Markets provides FIX API integration for your trading software to promote advanced order management and execution strategies.

ZuluTrade (Third-Party Platform)

ZuluTrade is a third-party platform that connects BlackBull’s traders with signal providers. With it, you are more likely to access a wider pool of potential traders than with BlackBull’s proprietary platform.

Investing Opportunities for BlackBull Markets

Investment opportunity on BlackBull Markets

BlackBull Markets enables investments with a high chance of success via copy trading and PAMM (Percentage Allocation Management Module).

With copy trading, you can select from a list of experienced traders on the platform and copy their trades in real-time. You can do this by reviewing the traders’ statistics and trading history before choosing. In addition, you can choose different types of traders with varying strategies and adjust your settings accordingly.

For PAMM, a professional trader manages the trading accounts while investors transfer funds to the manager’s account to trade for them. The investors can monitor the manager’s trading history in real-time and get a data-backed analysis of the trades.

Both strategies incur fees from the ‘managers’ but are relatively low-risk and high-reward scenarios.

Affiliate Program on BlackBull Markets

Affiliate program page on BlackBull Markets

Since BlackBull Markets does not offer welcome bonuses, I am convinced that the affiliate program compensates new users. The broker’s affiliate program is essentially a strategy to attract and invite more individuals and entities, promoting the broker’s services while rewarding affiliates with a commission.

With partners spanning various regions, the program boasts unlimited earning potential. Participants enjoy a range of multilingual marketing resources, a dedicated affiliate account manager, and flexible payment structures.

Conclusion

For a broker that has been around for less than a decade, BlackBull Markets’ services are solid, though not extraordinary. It offers favorable trading conditions, various account types, multiple trading platforms, and responsive customer service.

However, the broker restricts its services in many countries, and its investment programs could be more beneficial. The broker should refine its features and consider user feedback to introduce reward schemes and create a more user-friendly trading environment.

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