BlackBull Markets Broker Review – Does This Broker Measure Up?

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By Anthony Gallagher

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Blackbull Markets Review

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BlackBull Markets Review

  • Commissions & Fees
  • Investment Offerings
  • Trading Platforms
  • Customer Service
  • Education and Research
  • Trustworthiness


Have you heard of the broker, BlackBull Markets? BlackBull Markets is a brokerage founded in 2014 that offers well trusted trading platforms, including the MT4 and MT5 trading platforms, as well as many other features. Does BlackBull Markets have what you need? Read our review to learn more.


  • Great value for money trading with excellent spreads and low fees all around. 
  • The provision of well-trusted and long-standing trading platforms is a positive move from the broker.
  • The broker lays everything out in excellent detail to inspire trust from traders and accounts can be opened in a fast, convenient manner. 


  • There are not as many instruments available for trading as you would expect from a top broker. 
  • The regulation in New Zealand only is light and may not inspire confidence from traders. 
  • The educational content and other resources provided by the broker fall below what traders may have come to expect.

About BlackBull Markets

BlackBull Markets is a New Zealand based broker founded in 2014. They have worked hard to establish their reputation in the industry in the 5-years since inceptions, and they have crafted a successful image as a competitive and popular top forex broker within that time. 

Our BlackBull Markets review will take all aspects of the operation into account as we do with all of our forex broker reviews. We will then finish with a review score for each section of the broker. Reading this review should help you make the best next move within the forex broker industry that perfectly fits your needs. 

Blackbull Markets Landing ScreenAccount Opening

The account opening process at BlackBull Markets is similar to that of other major forex brokers we have reviewed. The broker tries to make this process as convenient and accessible as possible. 

Opening a BlackBull Markets demo account may be the first step for many traders. This can be completed easily within just a few minutes and requires only your most basic personal information. 

Opening a live account at BlackBull Markets encompasses a few more steps and a little more time in getting verified to trade yet it is still a fast, and easy to complete process which should see you trading in under 30 minutes so long as your documents are in order.

Minimum Deposit

The standard minimum deposit amount if you are opening a live account to trade with BlackBull Markets is $200. This comes with a leverage of up to 500:1 in many major markets depending on your location and can be considered as competitive within the industry if a little high when compared to other top brokers who often offer minimum deposits from $100 or less. 

Account Availability and Account Types

BlackBull Markets offer access to several account types. These are the ECN Standard, ECN Prime, and ECN Institutional account types. As you can imagine, the minimum BlackBull Markets deposits do vary on each of these account types. This starts at $200 for an ECN Standard account, $2000 for an ECN Prime account, and $20,000 for an ECN Institutional account as a minimum. As a trader, this means that you may likely be more focused on one of the first two options. An Islamic and frequent trader account are also available if you qualify for either.

BlackBull Markets account availability is generally very good. Accounts are available to traders around the world with only a few exceptions. The notable one among these is New Zealand itself, despite being based in and regulated by the FSPR of the country. Trading is also unavailable to the US and a couple of European markets.

Blackbull Markets Accounts Comparison

Product Offerings

As you would expect from an established broker, BlackBull Markets makes a range of assets available for trading. This includes a selection of major and minor forex currency pairs as well as markets to trade in indices, commodities, metals, and energies as CFDs

There are a total of around 60 markets available to trade in if all are taken into consideration. This is likely enough for many traders, but it must be noted that it is quite a few less than other major brokers, and given the substantial minimum deposit commanded, as a trader you may welcome more market availability, particularly something beyond the 20 or so forex markets which are available to trade.

Blackbull Markets Trading Conditions

BlackBull Markets Commissions and Fees

When it comes to BlackBull Markets commission, this varies depending on the account type you select with the broker. They do offer trading on the ECN standard account which is commission-free although this will also attract the highest, if still competitive spreads. These spreads typically begin from 0.8 pips depending on the market.

Within the Prime ECN account offered by BlackBull Markets you will find a commission of $6per lot traded is applied. In return though, the spreads here can be substantially lower, often starting from 0.1 pips in major markets.

Finally, commissions within the Institutional ECN account start from 0pips and can be negotiated depending upon the trade volumes. This could be aligned for you if you are a corporate trader with high frequency and large volume trades.

Platforms and Tools

The broker is Metatrader focused when it comes to trading platforms. This means that they offer both MT4 and MT5. These are both very well-respected trading platforms in the industry and widely used by all levels of traders. 

Blackbull Markets Features

Desktop Platform

As you would expect from a top forex broker and longstanding trading platform, MT4 and MT5 in desktop and Webtrader format perform extremely well. Here you will find all of the same tools within the MT4 desktop that has given it a stellar reputation in the industry. These together with its robust nature and easy to use dashboard ensure that you have everything you need for your forex trading journey at your fingertips thanks to BlackBull Markets. 

Blackbull Markets Mt4  

Mobile Trading Platform

The mobile trading experience with this broker is also of high professional standing. MT4 mobile is available for all of your smart devices, both Apple and Android. This is one of the most extensive mobile platforms when it comes to charting capabilities and the range of indicators and tools it provides. 

Blackbull Markets Mt4 Mobile

With its ability to be used within one application across multiple brokers, you can also be assured to never miss a trade regardless if you are with BlackBull Markets or another broker. 

Education and Research

When it comes to education and research tools, there are a few resources available with BlackBull but nothing which really comes close to some of the top forex platforms we have reviewed. 

You can gain access to a range of trading guides and video tutorials although this content will be short-lived particularly if you are a more experienced trader. 

When it comes to tools, of course, you have the excellent resources of MetaTrader and the community it has spawned, but as for coming directly from the broker, there is little more than sparse market reviews and an economic calendar. This is likely to fall below your expectations if you have any when you arrive at the broker. 

Blackbull Markets Award


The key differentiator which stands out when looking at BlackBull Markets is the highly competitive spreads they can offer. These are made possible for the most part by the ECN style of accounts which provide direct quotes from the liquidity providers and are an all-round more competitive way to trade. 

Whilst it is true that there are commissions and fees to contend with sometimes along with higher than average minimum deposits, you will find as a trader that you still often come out with a better deal from a trade thanks to the lower spread, and we have to imagine that this is a majorly attractive point for traders choosing BlackBull Markets.

Customer Service

There are a few different ways in which you can reach out to contact the broker customer service team. The first and likely quickest way to do so is by the web-based live chat. This is available on a 24/5 basis. 

If you need to reach the team by phone, you can do so on New Zealand and Malaysia local numbers between the hours of 10am and 11pm New Zealand time when the markets are open. 

Finally, you can contact them by email which also operates when the markets are open. The customer support team responded both quickly and professionally when any questions were posed. 

BlackBull Markets Trustworthiness

BlackBull Markets are registered and regulated in New Zealand by the FSPR under the number FSP403326. 

This is not an area that comes to mind when we consider the top global regulators in the forex industry such as ASIC and CySEC, however, New Zealand is a well developed and professional financial hub. We should, therefore, trust that everything within the operation is transparent. Understandably though, some traders may have reservations in this area.


Overall, our BlackBull Markets review team felt that the broker should be commended on establishing itself so thoroughly in quite a short space of time. They have brought every aspect of what we expect from a top broker together in their offering. This is particularly evident with their positive focus on providing a low-cost trading environment through ECN trading. 

Naturally, given the young age of the broker, there are various points to improve such as from a regulatory standpoint, but with all things considered, the future looks quite bright for BlackBull Markets and its traders.

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Anthony Gallagher

Anthony Gallagher is a financial journalist and forex expert with years of experience in the industry. Anthony's writing is informed by personal trading experience, which he uses to help other forex traders improve their results. Anthony has tested dozens of forex trading tools and written hundreds of articles for many well-known sites in the industry. He is recognized for his insightful analyses of global markets and data-driven trade ideas.

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