Blackbull Markets Trading Platform Review

BlackBull is a reputable online broker that has been in operation since 2014. The company is headquartered in New Zealand and is regulated by the Financial Markets Authority (FMA) as well as the Financial Services Authority of Seychelles (FSA).

BlackBull Markets Contact Information

BlackBull Group UK Limited is registered in the United Kingdom under company number 9556804, with its address at 24 Ousebank Drive, Skelton, York, YO30 1ZB, England, further reinforcing its credibility and local presence. However, UK traders should be aware that the company is not licensed or regulated by the Financial Conduct Authority (FCA).

BlackBull offers 26,000+ tradable instruments, including forex, indices, commodities, stocks, and cryptocurrencies. The broker provides its clients with access to a variety of trading platforms, including MetaTrader 4 and 5, TradingView, and cTrader, as well as its own proprietary platforms: BlackBull CopyTrader and BlackBull Invest. With a strong focus on customer support and education, BlackBull has established itself as a reliable and trustworthy broker in the online trading community.

BlackBull’s trading conditions are highly competitive, with tight spreads starting from 0.1 pips for major currency pairs traded with the ECN Prime account. Additionally, BlackBull’s trading platforms are designed to provide fast and reliable execution, with minimal slippage and latency. The broker’s commitment to providing a secure and stable trading environment has earned it a reputation as a trusted and reliable partner for traders of all levels.

Highlights of BlackBull Markets

• Tight Spreads: The broker’s spreads are highly competitive, starting from 0.1 pips for major currency pairs with the ECN Prime account.
• Various Accounts: Caters to UK traders of various experience levels by offering three account types, ECN Standard, ECN Prime, and ECN Institutional, featuring different trading conditions and products.
• Fast Execution: BlackBull’s trading platforms are designed to provide fast and reliable execution (under 100 milliseconds), with minimal slippage and latency.
• Variety of Trading Platforms: The broker offers a range of trading platforms, including cTrader, MetaTrader 4 and 5, TradingView, as well as its own proprietary platforms.
• Educational Resources: BlackBull provides its clients with regular market analysis, an Education Hub, tutorials, and a demo trading account – all designed to keep traders informed and support smarter trading decisions.

BlackBull’s commitment to providing a high-quality trading experience is evident in its attention to detail and focus on customer support. The broker’s trading platforms are designed to be user-friendly and intuitive, making it easy for traders to navigate and execute trades. Additionally, BlackBull’s customer support team is available to provide assistance and answer questions via email, live chat, and phone, helping traders resolve any issues quickly and efficiently.

Advantages and Disadvantages of BlackBull Markets

Available Markets and Instruments at BlackBull Markets

BlackBull is a reputable online broker that offers a wide range of tradable markets to UK traders. The extensive list is designed to provide traders with a wide range of options and opportunities. The broker’s focus on ensuring a secure and stable trading environment, combined with its competitive trading conditions, makes it an attractive option for traders of all levels.

Forex Market

The Forex market is the largest and most liquid financial market in the world, with a daily trading volume of over $7.5 trillion. At BlackBull, UK customers can trade a wide range of currency pairs, including:

• Major Currency Pairs: GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, NZD/USD
• Minor Currency Pairs: EUR/JPY, GBP/JPY, AUD/JPY, NZD/JPY, CAD/JPY
• Exotic Currency Pairs: EUR/TRY, USD/TRY, GBP/TRY, AUD/TRY, NZD/TRY

Popular tradable instruments in the Forex section at BlackBull include EUR/USD, USD/JPY, and GBP/USD, to name a few. The EUR/USD is the most widely traded currency pair, with a high level of liquidity and volatility. The spread on this ticker starts at 0.1 pips for ECN Prime accounts. Meanwhile, the USD/JPY and GBP/USD are both major currency pairs with a high level of liquidity and volatility.

Average Forex Spread at BlackBull Markets

Index Market

The index market allows UK clients to speculate on the performance of a basket of stocks or other assets. The great thing is that UK traders will have the opportunity to trade indices that feature local as well as global stocks. The following indices are available for trading:

• FTSE 100: A UK index that tracks the performance of the 100 largest and most liquid companies in the UK.
• DAX 30: A benchmark German index comprising the 30 most prominent and actively traded companies on the Frankfurt Stock Exchange.
• Dow Jones: An iconic American market index that comprises 30 major blue-chip corporations across key US industries.
• S&P 500: A broad-based US stock market index representing the performance of 500 leading publicly traded companies, covering approximately 80% of the American equity market.

It is no surprise that the FTSE 100 is the index that is most popular among UK traders, but other indices that enjoy great attention include the Dow Jones and S&P 500.

Commodity Market

BlackBull Markets offers a diverse range of commodity CFDs, providing opportunities for traders to diversify their portfolios and take advantage of price movements in the global commodity markets. The Commodity section at BlackBull is divided into two subcategories – Energies and Metals. The following commodities are available for trading:

1. Energy Commodities:

   • WTI Crude Oil: West Texas Intermediate (WTI) crude oil is a benchmark for oil prices in the United States.
   • Brent Crude Oil: Brent crude is a major benchmark for global oil prices, particularly in Europe and Asia.

2. Metals:

   • Gold: Often considered a safe-haven asset, gold is popular among traders during times of economic uncertainty.
   • Silver: Another precious metal that is widely traded, with both investment and industrial applications.
   • Platinum: A precious metal used in various industries, including automotive manufacturing.
   • Palladium: Primarily used in catalytic converters for vehicles, palladium is also a popularly traded commodity.
   • Copper: Widely used in construction and electronics, copper is a key industrial metal.
   • Aluminium: Another important industrial metal, used in various sectors, including transportation and packaging.

Equities (Share CFDs) Market

BlackBull Markets offers a robust equity market for trading through CFDs. This allows traders to speculate on the price movements of individual stocks without owning the underlying shares. Here is a detailed description of the equities market available to trade at BlackBull Markets:

• US Shares: Access to shares of major companies listed on US exchanges, such as the New York Stock Exchange (NYSE) and NASDAQ. Examples include Apple (AAPL), Amazon (AMZN), Google (GOOGL), Tesla (TSLA), Microsoft (MSFT), and Facebook (FB).
• UK Stocks: Shares of prominent companies listed on the London Stock Exchange (LSE). Examples include BP (BP.), Barclays (BARC), and Vodafone (VOD).
• European Shares: Access to major companies listed on European exchanges, such as the Frankfurt Stock Exchange (DAX), Paris Stock Exchange (CAC 40), and others. Examples include Volkswagen (VOW3), Siemens (SIE), and Total (TOT).
• Asian Shares: Shares of leading companies listed on Asian exchanges such as the Tokyo Stock Exchange (TSE) and Hong Kong Stock Exchange (HKEX). Examples include Toyota (7203), Sony (6758), and Alibaba (9988).

Cryptocurrency Market

The cryptocurrency market offers a variety of digital assets for trading as CFDs, allowing UK traders to speculate on the price movements of cryptocurrencies without owning the underlying assets. Since the broker is not regulated by the FCA, it does not impose a restriction on crypto products available to British retail traders, which is typically the case with brokers holding licences from the UK regulator. Below, you can see some of the popular crypto instruments available to trade at BlackBull:

• Bitcoin (BTC): Bitcoin is the first and most well-known cryptocurrency, often referred to as “digital gold.” It is widely regarded as a store of value and a hedge against inflation. It is a suitable option for traders as volatility provides opportunities for short-term trading.
• Ethereum (ETH): Ethereum is the second-largest cryptocurrency by market capitalisation. It is a decentralised platform for smart contracts and decentralised applications (dApps). Frequent upgrades (e.g., Ethereum 2.0) drive price movements, which makes it a popular option among crypto traders.
• Ripple (XRP): Ripple is a cryptocurrency designed for fast and low-cost cross-border payments, primarily used by financial institutions and payment providers.
• Litecoin (LTC): Litecoin is often referred to as the “silver to Bitcoin’s gold.” It is known for its faster transaction times and lower fees compared to Bitcoin. Strong historical performance and market presence make LTC a popular option for crypto traders.
• Bitcoin Cash (BCH): Bitcoin Cash is a fork (protocol update) of Bitcoin, created to address scalability issues by increasing the block size. It aims to be a faster and cheaper payment system.

Tradable Instruments

BlackBull offers its UK clients several types of instruments to trade. Depending on their preferences, traders can speculate on price movements through CFDs, trade futures CFDs with order execution date in the future, or trade currency pairs, without actually owning the underlying asset.

The broker offers a range of instruments to its clients, including:

• CFDs: Contracts for difference, which allow traders to speculate on the price movements of various underlying assets. UK traders can benefit from both surging and declining prices by taking long or short positions.
• Forex: Traders can access the forex market, with competitive spreads and high leverage on multiple pairs.
• Futures: Customers can trade various futures markets that include Agriculture, Energy, Indices, Metals, and more

Trading Costs at BlackBull Markets

BlackBull’s trading costs are highly competitive, with tight spreads starting from 0.1 pips for major currency pairs that are traded with the ECN Prime account. The broker also offers commission-free trading through its ECN Standard account, making it an attractive option for traders who want to minimise trading costs. Additionally, BlackBull’s overnight financing fees are competitive, with rates starting from 0.5% per annum.

Spreads

BlackBull’s spreads are highly competitive, with different spreads available across the broker’s ECN Standard, ECN Prime, and ECN Institutional accounts. If you opt for the ECN Standard option, you can trade major currency pairs with a starting spread of 0.8 pips. The ECN Prime and ECN Institutional accounts will reduce that minimum spread to 0.1 pips and 0.0 pips, respectively.

The spreads at BlackBull are very competitive, with the tightest spreads being available to ECN Institutional account holders. It should be noted that, unlike the spread-only ECN Standard account pricing model, the ECN Prime and ECN Institutional accounts charge a commission on each trade. That said, the spreads are low enough to offset the negative impact of the additional charge.

Commissions

The commission BlackBull charges per order depends on the account type used for trading as well as the size of the order. The ECN Standard account has eliminated commission charges, building the entire trading cost into the spread. This explains the widest spreads on forex and other instruments.

The ECN Prime account can be an attractive option, especially for Forex traders, as they will enjoy further reduced spreads, with a small round-trip commission of $6 (or equivalent in GBP) applied per standard lot.

The ECN Institutional account introduces even tighter spreads and a lower commission per trade, reducing the additional charge to only $4 per round turn (or equivalent in GBP) per lot traded on both sides.

Swap Rates

When UK traders keep their positions open overnight, they might be charged or receive swaps, also known as overnight fees. Swaps can be negative and positive, depending on various market conditions and currency interest rates. As the factors comprising the swap rates at BlackBull are constantly changing, we cannot provide numbers that will be accurate at the time of your trading experience. That said, you can check the current swap rates by using the broker’s Swap Calculator.

According to BlackBull’s official website, the broker resorts to the following formula to calculate its swap rates:

(One Point / Exchange Rate) x Trade Size (or Lot Size) x Swap Value (expressed in points)

Non-Trading Fees

In addition to spreads and commissions, BlackBull also applies some non-trading fees that UK customers must be aware of. While there are no fees applied to your deposits, whenever there is a withdrawal request, the broker will charge a flat fee of $5 (or equivalent in GBP).

Even though it is free to open an account with BlackBull, UK traders must keep in mind that there is an inactivity fee of $5 (or equivalent in GBP) charged if no activity is detected for more than 90 consecutive days. If there is still no activity after the grace period of 90 days has passed and an inactivity fee has been charged, the broker will continue charging $5 per month until the balance reaches $0 or the account has been reactivated.

Trading Platforms Supported by BlackBull Markets

With numerous platforms and brokers to choose from, it is essential to find a reliable and feature-rich trading environment that meets your needs. BlackBull, a reputable online broker, offers an impressive array of trading platforms, including cTrader, TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5), and proprietary software. Let’s delve into the main features of each platform, highlighting its benefits and suitability for traders from the UK.

cTrader: A Professional Trading Platform

Launched in 2011, cTrader is a popular choice among experienced traders, offering a robust and customisable trading environment. This platform is ideal for those who require advanced technical analysis tools, fast execution, and low latency. British traders will appreciate cTrader’s ability to handle complex strategies and its support for multiple account types, including ECN (Electronic Communication Network) accounts. Key features of cTrader include:

• Advanced charting and technical analysis tools
• Fast and reliable execution
• Customisable interface and workflows
• Support for automated trading strategies (cAlgo)
• Access to a wide range of markets, including forex, indices, and commodities

TradingView: A Social Trading Platform

TradingView is a unique platform that combines technical analysis tools with social networking features, allowing traders to share ideas, discuss market trends, and learn from each other. BlackBull is among the brokers that have partnered with TradingView, which means you can easily connect your trading account to the platform and start trading right away. British traders will enjoy TradingView’s social aspects, which provide a unique opportunity to connect with like-minded traders and stay up-to-date with market news and analysis. Key features of TradingView include:

• Advanced charting and technical analysis tools.
• Social networking features, including chat rooms and discussion forums.
• Access to a large community of traders and analysts.
• Support for automated trading strategies (Pine Script).
• Integration with popular brokers, including BlackBull Markets.

MT4: A Time-Tested Trading Platform

MT4 is one of the most widely used trading platforms in the world, known for its ease of use, flexibility, and extensive range of technical analysis tools. UK traders often appreciate MT4 for its user-friendly interface and widespread familiarity, making it a great option for beginners and experts alike. Key features of MT4 include:

• User-friendly interface and intuitive navigation
• Advanced charting and technical analysis tools
• Support for automated trading strategies via Expert Advisors (EAs)
• Access to a wide range of markets, including forex, indices, and commodities
• Mobile trading apps for iOS and Android devices

MT5: An Advanced Trading Platform

MT5 is the successor of MT4, offering an even more advanced and feature-rich trading environment. British traders may benefit from MT5’s advanced features, including its ability to handle multiple asset classes and its improved security measures. Key features of MT5 include:

• Improved charting and technical analysis tools
• Support for automated trading strategies via Expert Advisors (EAs)
• Access to a wider range of markets, including stocks, futures, and options
• Enhanced security features, including two-factor authentication
• Mobile trading apps for iOS and Android devices

BlackBull CopyTrader Platform: A Customised Trading Experience

BlackBull’s proprietary platform is designed to provide a seamless and intuitive trading experience, tailored to the needs of British copy traders. One might appreciate the platform’s ease of use and customisation options, allowing traders to create an environment that suits their individual needs. Key features of the platform include:

• Customisable interface and workflows
• Advanced charting and technical analysis tools
• Support for automated trading strategies
• Access to a wide range of markets, including forex, indices, and commodities
• Integrated account management and reporting tools

BlackBull Invest: Unlocking Trading Potential with Proprietary Platform

BlackBull’s in-house trading platform offers an extensive range of over 26,000 tradable instruments, providing users with unparalleled market access. This robust platform is equipped with sophisticated analysis tools, an impressive array of over 70 order types, and extended trading hours to cater to diverse strategies. Furthermore, it aggregates data feeds from more than 66 external sources, ensuring that traders have access to a vast amount of market information. Key features of the platform include:

• Competitive and transparent commission structures
• Real-time market data
• Cutting-edge charting tools
• Customisable price alerts

Mobile Trading at BlackBull Markets

BlackBull’s mobile trading apps are designed to provide traders with a convenient and flexible way to trade on the go. The apps offer a range of features and tools, including:

• Real-Time Quotes: The apps provide real-time quotes and market data, allowing traders to stay in the loop and make informed trading decisions.
• Trading: Traders can place orders directly from the app, with access to a range of markets and instruments.
• Account Management: The apps allow traders to manage their accounts, including depositing and withdrawing funds, and monitoring their trading activity.
• Market Analysis: The apps provide access to market analysis and educational resources, helping traders to stay abreast of the financial markets.

BlackBull’s mobile trading apps are available for iOS and Android devices, and can be downloaded from the App Store or Google Play. The apps are designed to be user-friendly and intuitive, making it easy for traders to navigate and place orders.

Account Types Available at BlackBull Markets

BlackBull’s account types are designed to provide traders with a range of options and opportunities. The broker’s focus on delivering a secure and stable trading environment, combined with its competitive trading conditions, makes it an attractive option for traders of all levels. While you can start your journey with a demo account and trade with virtual funds, live accounts include ECN Standard, ECN Prime, and ECN Institutional. While the broker offers an Islamic (swap-free) account to traders professing Islam, the UK is not included in the regions where this trading option is supported for BlackBull customers.

Demo Account

Before we explain the differences between the three main accounts at BlackBull, we also want to highlight the Demo account available to BlackBull clients. If you are an inexperienced trader or you simply want to practise your trading strategies, BlackBull allows opening a demo account charged with virtual funds. You can select your leverage, trading platform, and other setups that will replicate the real-money trading experience you would enjoy with a live account at the broker.

ECN Standard

The ECN Standard account is suitable for low-volume trading as it does not have a minimum deposit requirement. That means you can deposit as little as you feel comfortable with to start trading. Micro lots are supported, with the minimum contract size requirement being 0.01 lots. Traders who opt for the ECN Standard account will have access to the Equinix servers NY4 and LD5.

The key feature of the ECN Standard account is its spread-only pricing model. That means that there are zero commissions applied to your trades, with all fees included in the spread. Even though this account has slightly wider spreads, the overall trading cost is still very reasonable, with spreads on major currency pairs starting at 0.8 pips.

ECN Prime

The ECN Prime account requires a slightly bigger budget as customers must deposit at least $2,000 (or the equivalent in GBP) to be able to start trading. Micro lots are still supported, with the minimum order size being 0.01 lots. Yet again, traders will have access to the Equinix servers NY4 and LD5.

The ECN Prime account version offers a lower trading cost, which is achieved with minimum spreads from 0.1 pips on major currency pairs. Additionally, there is a small round-trip commission of $6 charged per standard lot.

ECN Institutional

This account is most definitely suitable for high-volume traders, with a minimum deposit requirement of $20,000. Despite requiring more serious funding, this account also supports micro lots, allowing placing orders as small as 0.01 lots. Unlike the previous two options, the ECN Institutional offers access to different Equinix servers.

This account will offer UK clients the lowest trading cost, with spreads on major pairs starting from 0.0 pips. Although there is a commission applied to orders, it is significantly lower, with each standard-lot trade including a $4 commission applied to both sides of the trade.

Customer Support at BlackBull Markets

BlackBull’s customer support team is available to provide assistance and answer questions, helping traders resolve any issues quickly and efficiently. The team is available 24/5, and can be contacted via:

• Email: Traders can contact the support team via email at [email protected], with responses typically provided within 24 hours.
• Live Chat: The support team is available via live chat, providing instant assistance and information.
• Telephone: Traders can contact the support team via telephone by dialling +64 9 558 5142.

The team is knowledgeable and helpful, with a focus on providing excellent service and support. The broker’s commitment to offering a secure and stable trading environment, combined with its competitive trading conditions, makes it an attractive option for traders of all levels.

Regulatory Background and Compliance

BlackBull is a regulated broker, with a strong focus on compliance and regulatory adherence. The broker is regulated by the Financial Markets Authority (FMA) of New Zealand and operates under licence number FSP403326. To expand its reach on the global trading scene, the company has also received the approval of the Financial Services Authority (FSA) of Seychelles, operating under licence number SD045. While the broker has not received a licence from the official regulator in the UK, FCA (the Financial Conduct Authority), UK traders can still trust the broker as its BlackBull Group UK Limited entity is registered in the UK with registration number 9556804.

Maximum Leverage Available

The FSA regulation allows for higher leverage limits compared to European regulators, such as the FCA. However, it is essential to note that higher leverage can increase the risk of significant losses, and traders should use risk management strategies to protect their capital. According to the FSA regulations, the maximum leverage available to BlackBull traders from the UK is as follows:

• Major currency pairs: 1:500
• Minor currency pairs: 1:200
• Commodities: 1:100
• Indices: 1:100
• Cryptocurrencies: 1:5

What UK Traders Say About BlackBull Markets

BlackBull Markets is a Forex and CFD broker that has been reviewed by numerous traders on various review platforms, including Trustpilot. As of now, BlackBull Markets has a Trustpilot score of 4.8 out of 5, based on 1,692 reviews. To help UK traders determine the real value of the broker, we have covered both the positive features and weaknesses that Trustpilot reviewers have highlighted:

Traders who have reviewed BlackBull Markets on Trustpilot have provided the following positive feedback:

• Excellent customer support: Many traders praise BlackBull’s customer support team for being responsive, helpful, and knowledgeable.
• Fast execution: Traders report that BlackBull’s trading platform provides fast and reliable execution, with minimal slippage and latency.
• Competitive spreads: BlackBull’s competitive pricing is praised by many traders, who appreciate the broker’s efforts to provide tight spreads and reduce trading costs.
• User-friendly platform: The broker’s trading platform has been described as user-friendly and intuitive, making it easy for traders to navigate and execute trades.

While the majority of reviews have been positive, some traders have given negative feedback, including:

• Withdrawal issues: A few reviewers report issues when withdrawing their funds, including delays and difficulties with the withdrawal process.
• Platform glitches: Some traders have experienced technical issues with the trading platform, including glitches and connectivity problems.
• Limited educational resources: A few traders have noted that BlackBull’s educational resources are limited, which may not be sufficient for traders who are new to the markets or want to improve their skills.