BlackBull Markets is an online exchange brokerage based in Auckland, New Zealand. The brokerage provides its clients trading services in Forex, Commodities, Indices, Metals, Energies, and CFDs. It was started in 2014 by a team of experienced professionals with a background in Forex, fintech development, and data security.
Over the span of just a few years in operation, BlackBull Markets has grown rapidly, expanding their offices to several other countries including New York, London, Kuala Lumpur, and Jakarta.
In addition, BlackBull Markets has won several awards for its technology and innovation in the industry. In 2018, the brokerage won the Deloitte Fast 50 for the Fastest Growing Exporter, a highly-commendable award in Auckland, New Zealand.
Furthermore, the brokerage’s liquidity providers are top-tier international banks such as Goldman Sachs, Credit Suisse, JP Morgan, Merrill Lynch, RBS, SMBC, Commerzbank, Bank of America, and BNP Paribas.
In this review, we will delve briefly into its offerings and features and determine whether BlackBull Markets is a regulated broker or, at the very least, is a safe broker to trade with.
BlackBull Markets: Services and Offerings
While BlackBull Markets offer the following services to clients residing almost any part of the globe, some U.N. sanctioned nations may not have the same services provided below. These include countries such as the United States, Russia, Spain, and professional traders in New Zealand.
• Trading Instruments
BlackBull Markets offers over 65 Forex pairs, Indices, and Commodities from major markets.
Its listings for Forex is some of the most extended, offering more than 60 Major, Cross, and Exotic Forex pairs that can be traded with a flexible leverage of 1:500. Spreads can start from 0.1 pips depending on the client’s account trading conditions.
Clients also have a large selection of Index CFDs which include the AUS200, GER30, US30, SPX500, UK100, and the JPN225.
Currently, BlackBull Markets does not charge any commissions for CFDs trades and does not have any additional mark-ups or re-quotes. CFDs of Indices can be traded with ultra-low latency and quick processing thanks to the technology for its trading platform.
BlackBull’s Commodities listings include energy, gas, and oil. It also has an extended list for Hard Commodities (such as gold, silver, etc) and Soft Commodities (such as sugar, cocoa, livestock, etc).
• Account Types
BlackBull Markets offer three types of trading account types for its clients – the ECN Standard Account, the ECN Prime Account, and the ECN Institutional Account. All accounts have a minimum lot size of 0.01 and allow clients to trade with a leverage of up to 1:500 with all its trading instruments.
The ECN Standard Account requires a minimum deposit of $200. Clients with this account type can trade with spreads starting from 0.8 pips with no commissions per trade. The account type runs on the Equinix NY4 server.
The ECN Prime Account requires a minimum $2,000 deposit. Clients with this account type can trade with spreads starting from 0.1 pips with a $3 commission per trade. The account type runs on the Equinix NY4/LD4/TY3 server.
The ECN Institutional Account requires a minimum $20,000 deposit and features customizable server and trading options. Clients with this account type can trade with spreads starting from 0.0 pips with negotiable commissions depending on the trading volume.
Accounts can be opened in AUD, USD, GBP, CHF, JPY, NZD, CAD, SGD, and HKD.
• Trading Platform
BlackBull Markets uses the industry-standard MetaTrader (MT4) platform by MetaQuoutes. It also uses Virtual Private Servers (VPS) and FIX API Trading.
MT4 is one of the leading trading platforms in the industry for its easy-to-use interface, lightning-quick execution time, and flexible customizability. It features real-time market quotes as well as over 80 pre-installed technical indicators, charting tools, and automated trading, among the list.
BlackBull Markets’ MT4 platform uses the NY4 Equinix server from Wall Street and boasts a trading execution time of two to five milliseconds.
The MT4 platform can be accessed through desktop, web browser, and mobile.
In addition, BlackBull Markets offers its clients a FIX API option for those who would want to use their own FIX application. This allows clients to directly access the ECN grid via Direct Market Access. This option is only available to clients holding an ECN Institutional account.
• Payment Options
Payment options include credit/debit cards, bank transfers, and online payment services such as Neteller, and Skrill. Keep in mind that certain services may charge fees.
BlackBull Markets: Is it safe?
BlackBull Markets is registered with the New Zealand Financial Services Provider Registry (FSPR) and is a member of the New Zealand Financial Services Complaints Limited (FSCL) resolution scheme. The goal for the FSPR is to increase transparency, provide company information, and aid in upholding international Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) policies.
In addition, BlackBull Markets has partnered up with ANZ Bank, one of the leading banks in the Australian region. This means that client funds are held separately from the broker, ensuring quick transaction times and that the brokerage does not have the ability to use them for other purposes.
With compliance under both ANZ Bank and the FSPR, BlackBull Markets guarantees the highest level of security.
BlackBull Markets: Conclusion
Being relatively new to the industry, BlackBull Markets still shows a lot of promise for the future.
The brokerage offers some of the best trading conditions compared to most brokers with tighter spreads, quick execution, and competitive fees.
One of the only downsides to BlackBull Markets is its lack of educational materials on its website. However, many believe that it would get an extended list of materials in the future.
Besides that, BlackBull Markets is a trustworthy broker and it wouldn’t hurt to give it a try.