BlackBull Markets Review 2025

Is BlackBull Markets regulated?

Yes, it is regulated by the Financial Markets Authority (FMA) of New Zealand and the Financial Services Authority (FSA) in Seychelles.

Is BlackBull Markets safe?

To be certain that a brokerage is safe, we highly advise that you check two facts:

• how you are protected if something goes wrong
• the background of the broker.

How you are protected

Clients are onboarded under two legal entities that are regulated by different authorities. However, it's not transparent which countries are onboarded under which entity.

BlackBull Markets provides negative balance protection. If the balance on your account goes negative, it will be covered by the broker.

Our brokerage experts put together a comprehensive guide on the safety profile of BlackBull Markets.

Background

BlackBull Markets is based in New Zealand and was founded in 2014. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises.

Find your safe broker

Account base currencies

At BlackBull Markets, you can choose from the following 8 base currencies:

This selection is average compared to competing brokers.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.

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. Opening an account only takes a few minutes on your phone.

Deposit fees and options

BlackBull Markets charges no deposit fees.

Here's all you need to know about minimum deposit requirements and depositing money at BlackBull Markets.

A bank transfer can take several business days, while payment with a credit/debit card is instant. You can only deposit money from accounts that are in your name.

BlackBull Markets supports the following electronic wallets:

The Skrill account is a USD account. You can still fund with multiple currency options, but doing so may incur exchange rate fees.

Depositing with Neteller offers multi-currency options. Available currencies: USD, AUD, EUR, GBP, CAD, JPY and SGD.

BlackBull Markets withdrawal fees and options

The withdrawal fee at BlackBull Markets is $5 (or 5 units in any other account currency) per withdrawal.

Read our guide containing all key info on available withdrawal methods and related fees at BlackBull Markets.

You can only withdraw money to accounts in your name.

If you use credit/debit cards, Skrill, FasaPay, Neteller, or UnionPay, you can only withdraw up to the amount you have deposited via the same method. Therefore, you have to withdraw any profit by using a bank transfer.

How long does it take to withdraw money from BlackBull Markets? We tested the credit card/bank transfer withdrawal and it took 1 business day.

How do you withdraw money from BlackBull Markets?

• Go to the BlackBull Markets' Client Login Portal.
• Once logged in, select 'Withdraw Funds' under the 'Funding' section.
• Select your MetaTrader account you would like to make the withdrawal from.
• Enter the withdrawal amount and the withdrawal method.
• Submit your withdrawal request.

Can you open an account?

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74-89% of retail CFD accounts lose money

Read our separate article on how to get your account started with BlackBull Markets.

What is the minimum deposit at BlackBull Markets?

The required BlackBull Markets minimum deposit is $0.

The minimum deposit is $0 for Standard accounts, while it's $2,000 for Prime Accounts.

Account types

BlackBull Markets provides three ECN account types that differ in pricing and minimum deposit requirements.

*R/T stands for round trade, which means a buy and sell order.
BlackBull Markets provides a swap-free / Islamic account that operates in full compliance with Sharia Law. Swap-free accounts are offered as a variant of Standard, Prime and Institutional Accounts.
You can also select different account types based on ownership:

• Individual account - account is owned by one individual
• Joint account - account is owned by two or more individuals
• Company account - account is owned by a legal entity

How to open your account

The BlackBull Markets account opening process is easy and fully digital. The online application takes roughly 10-15 minutes and our account was approved within one business day.

The 7 steps of account opening at BlackBull Markets:

1. Select the account type based on ownership and enter your name, email address and phone number.
2. Enter other personal information, such as the date of birth or source of income.
3. Select the account type (e.g. Standard or Prime), the account base currency and the leverage.
4. Upload documents to verify your identity and address. Passport, driver's license, national ID are accepted as proof of identity, while bank statements and utility bills are accepted as proof of residence.
5. After you upload the documents you will have to confirm your email address.
6. You will get trading account credentials when your account is approved.
7. Lastly, fund your account.

BlackBull Markets offers MetaTrader 4, MetaTrader 5, TradingView, cTrader, BlackBull CopyTrader and BlackBull Invest as a mobile trading platform. We tested MetaTrader 4, which is available for both iOS and Android. We used the Android version. It can be also downloaded by QR code from the App Store and Google Play.

After you download the MT4 mobile trading platform, you have to access the BlackBullMarkets-Live server.

The mobile trading platform is available in several languages.

Changing the language is a bit tricky on Android devices: you can do it only if you change the default language of your mobile.

Look and feel

The mobile trading platform is great, we really liked its design and user-friendliness. You will easily find each feature.

Login and security

BlackBull Markets provides only a one-step login for its mobile platform. A two-step authentication would be more secure and adding this feature should be high on any company's list of security changes.

You can't log in using biometric authentication. Providing this feature would be more convenient.

Search functions

The search functions are good.

You can search by entering the name of the product or by navigating the category folders.

Placing orders

You can use the following order types on the mobile trading platform:

• Market
• Limit
• Stop

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

You cannot set alerts and notifications on the BlackBull Markets mobile platform.

Alerts and notifications are only available on the desktop trading platform. It would be much more convenient to have these features on the mobile trading platform as well.

Our analysts personally tested BlackBull Markets's mobile trading platform; read the BlackBull Markets mobile app review for a detailed verdict on its performance and features.

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74-89% of retail CFD accounts lose money

BlackBull Markets offers MetaTrader 4, MetaTrader 5, TradingView, cTrader, BlackBull CopyTrader and BlackBull Invest as desktop trading platforms. We reviewed MetaTrader 4 because of its high popularity.
The platform has the same design, is available in the same languages, offers the same order types (plus Trailing Stop), and has the same search functions as the web trading platform. The portfolio and fee reports are clear as well, and you can download them if you right click on the History tab and select "Save as detailed report".
The major difference is that you can set alerts and notifications on the desktop trading platform in the form of mobile push and email notifications. To set them, you have to add your email address and mobile MetaQuotes ID, which you can find in the MT4 app's settings by going to the 'Tools' menu and then 'Options'.

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74-89% of retail CFD accounts lose money

BlackBull Markets is primarily a forex broker, but it also provides CFDs.

The broker's stock index CFD selection is better than its competitors while the forex and commodity CFD selections are similar.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

You can change leverage levels at BlackBull Markets, which is great. You can change the level of leverage on an existing account also, but can't have any open trades when doing so.
Changing the leverage is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high.

Social Trading

BlackBull Markets offers social trading through the following providers:

• ZuluTrade
• Myfxbook

ZuluTrade is a peer-to-peer, social trading platform where you can mimic the trading strategies of thousands of registered currency traders from 192 countries. Using ZuluTrade’s proprietary performance evaluation algorithm and feedback from ZuluTrade’s knowledgeable community, BlackBull Markets clients can customize trades according to their preferences and risk tolerance.
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 Marketsand 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.

We recommend BlackBull Markets for forex traders looking for low fees who prefer the metatrader platform.

Below you can find links to all aspects of BlackBull Markets in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our BlackBull Markets fees article.

What about the minimum deposit?

Our ultimate guide to the BlackBull Markets minimum deposit is updated regularly.

How to start your BlackBull Markets account?

Look no further than our evaluation of the BlackBull Markets account opening.

How's their trading app?

Here's our expert view after checking the BlackBull Markets trading app.

Is the quality of customer service satisfactory?

All you need to know about the BlackBull Markets customer service.

Legit or scam?

Is BlackBull Markets legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether BlackBull Markets is really free.

Is this broker good for beginners?

We checked it in Is BlackBull Markets good for beginners.

Should you buy your silver bullets on BlackBull Markets?

Research for silver bugs in the Silver buy on BlackBull Markets guide

I want to trade options, are they available at BlackBull Markets?

We explored the topic in Can you trade options on BlackBull Markets?

What is the minimum account balance at BlackBull Markets?

Check out the current account balance requirements at BlackBull Markets in our What is the minimum account balance at BlackBull Markets article.

Looking for commission and fees data for BlackBull Markets?

We collected them in BlackBull Markets commission and fees.

How do you withdraw money from BlackBull Markets?

We tested it and collected the options and costs in How to withdraw money on BlackBull Markets.