Black Bull Review:
BlackBull Markets is a New Zealand-based ECN broker with over 300 trading products available on the MT4 and MT5 platforms. We’ll go over the broker’s customer site, including spreads, minimum deposits, regulations, and how to log in to a live and demo account.
Black Bull Group Limited was established in 2014 and is regulated by the New Zealand Financial Markets Authority and the Seychelles Financial Services Authority (FSA).
The broker’s main office is in Auckland, New Zealand, with a support office in Kuala Lumpur, Malaysia.
The firm has a total of ten years of institutional forex trading experience. The broker is a real ECN, not a dealing desk, that offers retail clients institutional-grade fintech services.
Award-winning platforms and extra tools, such as Myfxbook and ZuluTrade, are available to users. Basic services and PAMM accounts are now available to institutional clients.
For many brokers and traders, the MT4 system is a viable choice. Near-instant execution, interactive charts, and direct market trading with major liquidity providers are all available on the platform.
Advisors and meta scripts are supported on the platform, allowing you to develop your automated trading robots. Different order types, dozens of preloaded indicators and analysis tools, multiple chart settings, and a market monitor window are also available to traders.
The website has separate download links for both the Windows PC and Mac versions of MT4.
Also available is the MetaTrader WebTrader, an online version of MT4 that allows clients to trade from any device using any compatible web browser (Chrome, Mozilla, Firefox, etc.).
Faster processing times, hedging capabilities, improved pending order functionality, and a greater choice of tools and indicators are all available with MT5. There are over 20 timeframes available, as well as an integrated economic calendar and market liquidity depth.
Over 300 assets are available, including more than 60 currency pairs, CFDs on some of the world’s most popular indexes, commodities like oil and natural gas, and gold and silver. We’d want to see cryptocurrency and stocks, despite a good variety of products.
On an ECN Standard account, trading is cost-free, while on an ECN Prime account, the commission is $3.00 per lot ($6.00 per round). The charge for an ECN institutional account is adjustable.
The business also charges a swap fee for holding positions overnight, which is calculated on an ongoing basis by the broker and displayed on the trading interface. For currency pairs and precious metals, the highest leverage available is 1:500.
The MT4 trading app is available for free download on both iOS and Android smartphones. The program is completely functional, with a full range of trading orders, transaction history, interactive navigator and chart windows, indicators, sketching tools, and automated trading capabilities.
Trading account replenishment methods
Bank transfers, credit/debit cards, Skrill, Neteller, Union Pay, and FasaPay are all accepted for deposits in nine currencies, including US Dollars, Euros, British Pounds, and Australian Dollars. Except for a bank transfer, which takes 1-3 days, other choices are completed promptly.
Withdrawals must be made with the same method that you deposited with. Withdrawals should be processed within 24 hours, according to the broker. For credit/debit cards, Neteller, and Skrill, the cost is 5.50 in the account’s base currency, and for international bank transfers, the fee is 20.00 in the account’s base currency.
A 30-day trial with up to $100,000 in virtual funds is available from the firm. Users can pick between a standard or a master account, with a leverage level of up to 1:500. A demo account is useful for practicing trades and obtaining genuine market data before moving on to the real thing.
The company is based in New Zealand. The brokerage is also a member of the Financial Services Complaints Limited (FSCL) dispute resolution process and is registered with the Financial Services Providers Register (FSPR) with license number FSP403326.
The broker safeguards client funds by entrusting money segregation and liquidity management to ANZ Bank, one of Australia’s largest banks.
Beginners will find MT4 tutorials, currency analysis guidelines, and a trading glossary among the training tools available. An economic calendar is also available to keep track of market news and events.
Traders that match specific criteria, such as trading on the NYC and BeeksFX servers, can get a free VPS from the firm. In addition, HokoCloud, ZuluTrade, and Myfxbook are three popular social trading platforms.
In 2022, the online broker teamed up with Autochartist to provide advanced market insights and automated opportunity detection. The plugin searches the markets and informs users of prospective trading opportunities. It is compatible with MT4 and MT5. It uses pattern recognition technology to keep an eye on the markets 24 hours a day, seven days a week and is a must-have for many traders.
The firm offers three basic account types (ECN Standard, ECN Prime, and ECN Institutional), as well as Islamic and active trader accounts for qualified clients. On accounts, the minimum lot size is 0.01.
On the Standard Account, spreads start at 0.8 pips and a minimum deposit of $200 is required. A commission is not required while trading on a basic account.
Starting at 0.1 pips spreads on a prime account are more competitive. A deposit of $2,000 is required as a minimum. A $6 commission is paid per round.
Customer service is available via phone, email, and live chat 24 hours a day, seven days a week.
Using a secure SSL connection, all data transmitted on the platforms is encrypted. A secure client portal is also used to manage all customer transactions.
The country the firm works with
The broker works with traders from:
- Great Britain;
- South Africa;
- Hong Kong
- The United Arab Emirates
- Saudi Arabia;
- Qatar, like most other countries,
Our review of BlackBull Markets identified several good reasons to open a live account, including competitive spreads and a wide selection of platforms and instruments. a good selection of deposit and withdrawal options. However, I would like negative balance protection to be offered as an added element of security and regulation.