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Overview of BlackBull Markets fees and charges

It's safe to say that BlackBull Markets's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use BlackBull Markets even in case you trade frequently like multiple times a week or daily.

Here's a high level overview of BlackBull Markets's fees

BlackBull Markets Fees snapshot
Assets Fee level Fee terms
EURUSD Low ECN Prime account: $3.00 commission per lot per trade plus spread cost. 0.2 pips is the average spread cost during peak trading hours.
GBPUSD Low ECN Prime account: $3.00 commission per lot per trade plus spread cost. 0.5 pips is the average spread cost during peak trading hours.
S&P 500 CFD Low The fees are built into the spread, 0.6 points is the average spread cost during peak trading hours.
Inactivity fee Low No inactivity fee

Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

BlackBull Markets fees
BlackBull Markets fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that online brokerages' businesses can be much better scaled: From a purely technical standpoint it doesn't make that much of a difference for them if they have 100 or 5000 clients.

This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually do a trade. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
    • A commission is either based on the traded volume or it is fixed.
    • A spread is the difference between the buy price and the sell price
    • Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.

We compare BlackBull Markets fees with its closest competitors, TMGM and Fusion Markets.

BlackBull Markets fees
BlackBull Markets trading fees

BlackBull Markets's trading fees are low which makes it suitable for you even if you trade often (i.e. multiple times a week).

Let's break down the trading fees into the different asset classes available at BlackBull Markets.

Trading fees

BlackBull Markets's trading fees are low.

It is super hard to compare trading fees for forex brokers. What we did at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of an example trade for two currency pairs.

  • EURUSD, a popular currency pair
  • EURGBP, another popular currency pair

The example in this context would mean that you buy for $20,000 using 30:1 leverage, and sell it after a week.

This super catch-all benchmark includes spreads and financing costs for all brokers.

Here is the verdict.

BlackBull Markets forex trading fees
BlackBull Markets TMGM Fusion Markets
EURUSD benchmark fee $6.1 $6.1 $5.2
EURGBP benchmark fee $9.1 $7.3 $5.7

Financing rates

BlackBull Markets financing rates are low.

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

BlackBull Markets yearly financing rates
BlackBull Markets TMGM Fusion Markets
Apple CFD financing rate 2.6% 3.6% 3.7%
Vodafone CFD financing rate - 3.6% -
EURUSD financing rate 1.2% 1.2% 1.1%
EURGBP financing rate 1.7% 1.4% 1.1%

Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.

Currency conversion fee

BlackBull Markets will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..

BlackBull Markets fees
BlackBull Markets non-trading fees

When it comes to looking at all the non-trading fees BlackBull Markets is an average broker. This means that some of the non-trading fees are high, but the others are low or not charged at all.

Non-trading fees include various brokerage fees and charges at BlackBull Markets that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.

A high level overview of how BlackBull Markets stacks up in non-trading fees
BlackBull Markets TMGM Fusion Markets
Withdrawal fee $5 $0 $0
Deposit fee $0 $0 $0
Inactivity fee No Yes No
Account fee No No No

BlackBull Markets fees
BlackBull Markets deposit fee

Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and BlackBull Markets is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods BlackBull Markets offers.

BlackBull Markets deposit methods
BlackBull Markets TMGM Fusion Markets
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Deposit fee $0 $0 $0

BlackBull Markets fees
BlackBull Markets withdrawal fee

Unfortunately, quite like the majority of the online brokers we have reviewed BlackBull Markets does charge a withdrawal fee of $5 for the bank transfer. This means that you need to pay this amount of money when you transfer your money back to your bank account. It's up to you to decide whether this is a high amount or not as it's dependent mostly on the size of the transferred amount.

BlackBull Markets withdrawal fees and options compared
BlackBull Markets TMGM Fusion Markets
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee with bank transfer $5 $0 $0

BlackBull Markets fees
BlackBull Markets inactivity fee

BlackBull Markets does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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74-89% of retail CFD accounts lose money

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