BlackBull Markets Broker Review 2023 – Regulated ECN Broker from New Zealand

BlackBull Markets – Broker Review

BlackBull Markets is a New Zealand-based Forex and CFD broker founded in 2016, with its headquarters located in Auckland. It operates as an ECN/STP/NDD broker, allowing clients to trade under ECN trading conditions without direct intervention from the broker (no dealing desk model). Transactions are executed directly in the market with variable and relatively low spreads, providing clients with the best quotes. The broker acts as an intermediary between the client and the market, aggregating prices from various liquidity providers, including global banks and top-tier financial institutions.

This extensive pool of liquidity providers ensures that the prices displayed on the platform reflect the overall market. As a result, traders receive the best available Bid and Ask quotes, with pricing offers from liquidity providers constantly competing.

Thanks to this setup, clients have access to quotes that can be executed instantly. Orders are immediately completed from the non-dealing desk price source at the best available Bid and Ask prices at the time of the transaction, as provided by liquidity providers. Simultaneously, the trader’s orders remain anonymous to liquidity providers, meaning entry orders, exit orders, or stop limits are not visible.

For order execution, the broker utilizes state-of-the-art Equinix servers located in New York (NY4), London (LD5), and Tokyo (TY3), ensuring instant market access for its clients.

In terms of regulation, BlackBull Markets is registered with the Financial Services Provider Register (FSP403326), the financial services regulatory authority in New Zealand (FSRP). This registration enhances the security for BlackBull Markets clients, as the company must comply with the financial regulations of the country, including those related to client funds and financial services procedures.

Type of broker

BlackBull Markets is a Forex and CFD ECN/STP/NDD broker.

Trading Instruments of BlackBull Markets

Currently, this broker offers the opportunity to trade with the following financial assets:

• Forex Market: 64 currency pairs in the spot Forex market, including major pairs such as EUR/USD, GBP/USD, USD/CHF, and USD/JPY, as well as less common and traded pairs like GBP/AUD and EUR/SEK, among others. Regarding trading conditions in the Forex market, BlackBull Markets provides a maximum leverage of 1:500, a minimum transaction size of 0.01 lots, and low and variable spreads starting from 0.0 pips for major currency pairs like EUR/USD.
• Precious Metals: Gold and silver in the spot market, two of the most important commodities in the market.
• Contracts for Difference (CFD): CFDs based on various types of financial instruments, including:
  • Stock Indices: 6 of the most important stock indices in major stock markets, such as the S&P 500, FTSE 100, DAX 30, and Nikkei 225.
  • Commodities: 4 of the most important commodities in the market, including energy commodities like crude oil and natural gas.
  • Cryptocurrencies: 4 of the major cryptocurrencies in digital currency markets, including Bitcoin (BTC) and Ethereum (ETH).

*The trading conditions for CFDs depend on the underlying asset of the contract.

Fees and Trading Commissions

Although BlackBull Markets offers its clients a selection of different account types, all accounts follow an ECN execution model, “no dealing desk.” Spreads can be as low as 0.0 pips, depending on the selected account type.

-The minimum spread for trading the EUR/USD pair in the Standard ECN account is 0.8 pips.

-The minimum spread for trading the EUR/USD pair in the ECN Prime account is 0.1 pips. Additionally, a commission of 6 USD per traded lot is charged.

-The minimum spread for trading the EUR/USD pair in the Institutional ECN account is 0.0 pips. Additionally, a commission per lot can be negotiated by the trader.

These spread and commission levels are highly competitive. The minimum deposit required to open what appears to be a fully “true” ECN account is $2000.

Costs for other instruments such as commodity CFDs, individual stocks, and stock indices are at an average level compared to the industry.

Trading Accounts​ of BlackBull Markets

BlackBull Markets offers various types of trading accounts designed for clients with different profiles, from beginners traders to professional traders. The main features of these accounts are the following:

All accounts offered by BlackBull are ECN accounts, operating with an ECN/NDD/STP execution model. They use a selection of Equinix servers: NY4, LD4, or TY3.

The most successful traders operating with high volumes may be eligible to open an Active Trader account, featuring customized negotiable solutions and packages.

Each type of account offered by BlackBull Markets allows for hedging, scalping, and automated trading through Expert Advisors. As BlackBull Markets exclusively uses the MetaTrader 4, MetaTrader 5 and TradingView trading platforms, there is a wide range of automated tools available that work with these platforms.

Demo Accounts:  BlackBull Markets offers a demo account without a time limit and with virtual money which allows the traders to practice their trading strategies.

Trading Platforms of BlackBull Markets

Clients of this broker have the option to use three trading platforms with the following basic features:

• MetaTrader 4: One of the most comprehensive and popular trading platforms in the industry, offering multiple trading tools. It is a downloadable application that provides a wide range of market analysis tools, including advanced charts with various timeframes, updated quotes, dozens of technical indicators, and more. This platform supports various order types for market operations and allows users to create, evaluate, and implement automated trading systems called Expert Advisors based on various strategies.
• MT4 WebTrader: WebTrader is the online version of MetaTrader 4. It allows users to access their BlackBull Markets MetaTrader 4 account through any web browser and operating system (Windows, Linux, Mac) without the need for additional software. Internet connection is the only requirement to access the platform. WebTrader offers almost all the benefits of the native MetaTrader 4 platform while providing the convenience of executing transactions from any computer. No download is required. WebTrader securely encrypts all transmitted data, ensuring an application as secure as the MT4 platform.
• MAM/PAMM MetaTrader 4: This platform is based on MT4 and is designed to manage multiple MetaTrader accounts through a single and user-friendly interface. It is ideal for traders and fund managers using Expert Advisors (EA) or handling a large number of trading accounts, whether their own or those of other investors, as in the case of PAMM managed accounts. It incorporates various fund distribution and allocation methods, such as percentage allocation, lot allocation, proportional balance allocation, and others. It also features the same tools and normal functions as MetaTrader.
• MetaTrader 5: This is the newer version of the MetaTrader platform and shares many features with MT4, along with several modifications and additional functions. MT5 offers even faster trade processing times, the ability to hedge positions, additional trading instruments, advanced pending order functions, and more tools and indicators to give traders a cutting-edge advantage. It includes over 20 timeframes (from 1 minute to 1 month), 38 built-in technical indicators, an integrated economic calendar, and features for creating and evaluating custom indicators and Expert Advisors developed using the MQL5 programming language. It is an ideal platform for both beginner and advanced traders.
• TradingView: Clients of this broker can now connect their trading accounts to the TradingView platform and services at no cost. TradingView is a cutting-edge trading and market analysis platform used by traders and investors of all levels. It offers powerful trading tools and real-time data from multiple markets, allowing traders to make informed financial decisions. With its user-friendly interface and extensive features, TradingView has become a reference platform for traders worldwide. Whether you are an experienced professional or a novice exploring the world of trading, TradingView provides the necessary resources to operate in financial markets.
• Mobile Applications: BlackBull Markets offers clients several applications based on MetaTrader 4 and MetaTrader 5, designed to access the trading account and trade in the market from various mobile devices such as smartphones, tablets, and similar devices. These platforms offer simple trading tools such as updated market quotes, price charts, and features for trade management, among others.
  • MetaTrader 4 iOS.
  • MetaTrader 4 Android.

Services and Automated Trading Platforms of BlackBull Markets

The main automated trading solutions offered by BlackBull Markets, along with the use of Expert Advisors and access to MetaQuotes’ Metatrader 4 Trading Signals service, include the following:

-Myfxbook Autotrade: It is a specialized automated trading platform based on the concepts of social trading and mirror trading, created by the company Myfxbook. It allows traders to follow and copy the trades of any selected trading system (there are thousands of systems of all types to choose from). These trades are directly copied to the client’s BlackBull Markets trading account linked with Myfxbook. It is an online platform (no download or installation required), and its significant advantage lies in the rigorous selection process conducted by the company for the offered traders and trading systems. This ensures access to the most successful and profitable ones.

-PsyQuation: PsyQuation is the world’s first automated online trading coach. A machine learning system continuously analyzes the trader’s trades and market behavior. Based on this analysis, it provides advice on weaknesses in the trading strategy and how to mitigate their effects. Additionally, this application allows the trader to connect directly with a broker who will analyze the performance of their trades and manage them with various essential tools, aiming to achieve the goal of reducing losses and improving trades.

-Zulutrade: Zulutrade is a leading peer-to-peer social trading platform where investors can replicate the trading strategies of thousands of registered and talented forex traders from 192 countries. By using ZuluTrade’s patented performance evaluation algorithm and leveraging the expert community’s feedback, BlackBull’s clients can customize their trades according to their preferences and risk tolerance.

-SwipeStox: It is a social trading platform built around a community of investors who share tips, experiences, and ideas about the markets to develop the best trades. The idea is that multiple ideas are better than one. By using a teamwork-based approach and transparency in operations, all community members can benefit from shared knowledge. The platform allows users to copy the trades of other traders, with those traders receiving compensation when their transactions are copied.

Advantages and Additional Services of BlackBull Markets

Among the main advantages and additional services provided by this broker, the following stand out:

• It is a broker based in New Zealand, duly regulated by the Financial Services Provider Register (FSRP) of New Zealand.
• It operates as an ECN broker, meaning clients have access to the company’s major liquidity providers during their trades. This allows traders to operate with variable and low spreads, fast execution, and the best quotes.
• BlackBull Markets offers customer support 24 hours a day, 7 days a week.
• Clients of this broker have access to daily market analyses conducted by expert analysts.
• The company provides updated market news services.
• Various automated trading solutions are available for all clients, including the use of Expert Advisors (automated systems) on the MT4 platform and access to social trading networks and platforms such as MetaTrader 4 Trading Signals by MetaQuotes, Myfxbook Autotrade, and SwipeStox, among others.
• It offers access to a wide variety of markets.
• The broker provides several trading platform options for its clients.
• Through its website, the broker offers various educational options for clients, including video tutorials on the market.
• The website contains ample information on topics such as technical analysis, fundamental analysis, and the market in general.
• It has an affiliate program that allows individuals to earn money by promoting its services as a broker.

Main Offers of BlackBull Markets

The current offers offered by this broker to its customers are the following:

• At the moment this broker does not offer any kind of bonus promotion to its customers.
• It offers a free VPS hosting service for all clients that have a minimum capital of USD 2000 in their account and have a monthly trading volume of 20 lots.

Other Categories of this broker

• Gold Broker
• Silver Broker.
• CFD Broker
• ECN Broker.
• Metatrader Broker.

Company	Black Bull Group Limited
Operating since	2016.
Minimum account size	$200
Minimum lot size	0.01 lot.
Maximum Leverage(FX)	1:500
Spreads	-Variable spreads from 0.0 pips onwards for the major currency pairs
Commissions	– ECN Prime Accounts: $6.0 commissions per negotiated lot -ECN Institutional Accounts: Commissions can be negotiated by the client
Link to the website	Visit Broker Website
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