In our rating, BlackBull received a high score in the Fees category due to reasonable spreads and swap rates. We test the broker’s platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money. BlackBull Markets is a new ECN Forex Broker from New Zealand. As a platoon with further than 9 times of experience in forex trading, we tested this broker in detail.
Our account was ready within a business day while the educational tools include videos, texts and a demo account. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. In the sections below, you will find the most relevant fees of BlackBull Markets for each asset class. For example, in the case of forex and stock index trading, the most important fees are spreads, commissions and financing rates. There is nothing as frustrating as when when you need an urgent help from support and you are not getting it.
Active trader accounts are the ECN standard, ECN prime, and ECN institutional accounts. The accounts have various features that could be used as per the requirement of the investor. Basically, traders can tailor their commission, spreads, and more to suit their trading style.
TheForex Brokeris fully regulated in New Zealand and provides a very good service. There is a free demo account to test the platform by yourself and for all traders who wants to start trading with real money the minimum deposit is only $200. I like the trading experience at BlackBull Markets due to its competitive cost structure and excellent trade execution. BlackBull Markets also supports API trading and offers VPS hosting, making it ideal for advanced algorithmic trading.
Traders can request withdrawals from the secure back office of BlackBull Markets in a straightforward process, usually completed within 24 hours except for bank wires. BlackBull Markets follows well-established industry practices for onboarding new traders. The research also consists of technical analysis, but the entire package costs $45 monthly. The primary regulator of BlackBull Markets is the New Zealand Financial Markets Authority . It also maintains a subsidiary, BBG Limited, authorized by the Seychelles Financial Services Authority .
Blackbull Markets trading platform MetaTrader 4
These can also be checked in the contact specification for each currency pair or instrument on the MT4 platform, but I wanted to see what showed up on my account. The swaps debited to my account turned out to be more than three times greater than thee swap costs for the same currency pairs with one of my other brokers. These high swap costs could have a significant impact on the profitability of traders who hold positions for long periods of time. Given the excellent trading infrastructure and competitive trading costs, I do not consider the absence of incentives for new retail traders as a negative factor. Regrettably, BlackBull Markets limits its demo account to just 30 days, and it is only available on the MT4 trading platform.
For traders who wish to use their own FIX application, the broker offers a FIX API trading tool. This tool allows traders to bypass the BlackBull MT4 application and connect to the broker’s ECN grid. Essentially, BlackBull Markets is a regulated ECN broker that serves tens of thousands of traders from over 180 countries. The company, which is a leading online Forex broker, was founded in 2014 in Auckland, New Zealand. However, to find the right broker for your needs, due diligence is needed.
BlackBull Markets offer customer support in multiple languages, including English, Japanese, Chinese, and Spanish. The customer support team is available 24/6 via live chat, email, and telephone. Moreover, The company also has an extensive FAQ section covering all the essential topics. BlackBull Markets also offers mobile trading apps of MT4 and MT5 for Android and iOS devices. These apps provide all the features and tools available on the desktop versions.
What account types does BlackBullMarkets offers?
The resulting catch-all benchmark fees include spreads, commissions and financing costs for all brokers. We also compared BlackBull Markets’s fees with those of two similar brokers we selected, TMGM and Fusion Markets. Our selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of BlackBull Markets alternatives. Research tools are basic and the Prime Account minimum deposit is high. Although the trading tools and educational support is limited, you can expect them to add these facilities in the upcoming time.
Since the interface of this forex trading platform is very simple and easy to operate. Therefore, if you are in search of a forex broker that does not have a difficult interpreter algorithm then you must opt for black bull markets. A black bull market is worldwide famous as the forex trading platform that was first introduced into New Zealand in the year 2014.
Founded in 2014, BlackBull Markets has been in business for more than eight years, indicating that it is a stable company. The broker offers a high level of transparency, and all the important information about the types of accounts, commissions, fees, entities, and legal docs can be found on its website. MT4 offers customizable watchlists and charts, which could be tailored to traders’ needs. The trading platform also provides copy trading and automated trading features. Traders who are new to the platform will need to spend some time learning the ropes, but the navigation is logical, so it would not be a problem.
For a correct position size, you have to calculate it or use an indicator. BlackBull Markets will help you with it if you do not know how to do it. In the picture below you will see a screenshot of the desktop version of the platform.
If you’re looking for a more advanced trading platform, then MT5 is the right choice. BlackBull Markets offer a wide range of deposit and withdrawal options, including bank wire transfer, credit/debit cards, and a variety of e-wallets. The minimum deposit is $50, and the withdrawal processing time is up to 5 business days. It offers you different tools for research purposes that can help you learn more about forex trading insights. You do not have to worry about your privacy and security in terms of account details and money. As we mentioned earlier that the heads that regulate black bull markets are recognized by the higher authorities.
Good educational tools are offered
Opening an account at BlackBull Markets is acceptably quick and follows the normal standard in the retail Forex industry. I found some of the additional questions unnecessary, as traders can fill them out as they wish, and there is no verification of the answers. BlackBull Markets includes the account verification with the account opening form, which I like, as it is a requirement and saves traders the extra step from the back office. New traders must submit a copy of their ID and a proof of residency document dated within the past three months.
They are normally traded as CFDs and grouped according to similar categories. PsyQuation is a useful trading management tool that allows you to monitor your trading performance. In addition, it helps you to analyze your actions and shows your weak areas that need to be improved. You can manage your trading, set your goals, trade99 review set notifications via an easy to use interface. If you’re a BlackBull Markets client, you can create your PsyQuation account for free and connect it to your MT4 account. BlackBull Markets provides PAMM and MAM solutions for fund managers who need to process bulk orders from one main account to multiple accounts.
Trading Platforms & Tools of BlackBull Markets
Active traders may also find tailored solutions and additional services to enhance capabilities, alike VPS hosting, advanced reporting and so. BlackBull Markets offers MetaTrader 4 and 5 as desktop trading platforms. BlackBull Markets offer a very convenient deposit and withdrawal mechanism.
And if you live in New Zealand, they have a toll-free phone number. Additionally, you will be happy to know that BlackBull’s FIX API is vantage fx broker review fully customizable and compatible with any FIX program. On top of that, it allows for lower latency and faster speeds when trading.
Is this broker good for beginners?
Once your login details are sent through to your registered email address, you will be able to login to the back area of BlackBull markets. Some brokers have very overwhelming and complicated back ends, where it’s virtually impossible to workout how to do what you want to do on the account. You have access to everything you would need as a retail trader.
You can use free pointers and analysis tools which are veritably customizable. It’s possible to acclimate the tools to your own trading strategy. Also,multi-charting and one-click trading are supported by the software. That means you can trade further than 100 lots with one click by using high influence of 1500.
Therefore, I believe that most traders will not require assistance unless there is an emergency. In such a case, BlackBull Markets ensures sterling to new zealand dollar a customer service representative is available. One of the most ignored trading costs is swap rates on leveraged overnight positions.
BlackBull Forex needs no introduction as it is the most popular financial market which most traders across the globe use. Its daily trading volume on average goes as high as $5 trillion per day. The company is striving to have the highest level of operational standard and conduct along with a well-maintained supervisory that protects the traders from security threats.
Talking about available instruments, BlackBull has many commodities and indices to choose from, while the number of available stocks is low. BlackBull Markets offers 24-hour support on working days in English. You can use the phone, dispatch, or converse to communicate them. The converse is the fastest way to communicate the broker in our opinion. From our experience, the support works veritably fast and professionally.
NewsWIKIFX REPORT: BlackBull partners with Interactive Brokers for global share
Myfxbook is a social trading site, which allows users to share, analyze, track and compare their trading activities. It also allows users to set up auto-trading to follow selected traders. Myfxbook is an affiliate of BlackBull Markets and MetaTrader 4 is fully integrated with the Myfxbook system. All that a BlackBull Markets client has to do is sign-up for a Myfxbook account and link it to their BlackBull Markets Account.