The ECN Broker BlackBull Markets, founded in 2014, is a relatively young company. The broker belongs to the Black Bull Group Limited and has its headquarters in Auckland, New Zealand, where it is licensed and regulated by the New Zealand Financial Supervisory Authority FSPR under number FSP403326. Despite a relatively short time in the financial markets, BlackBull Markets has already gained an amazing reputation as a Forex and CFD broker in online trading.
BlackBull Markets Instruments and Trading Environment
At Blackbull Markets, traders will find instruments from 5 different asset classes. For Forex trading, BBM offers 27 different currency pairs, including all 7 current majors such as EUR/USD or USD/CHF. For trading CFDs on indices, BlackBull Markets offers 6 of the major international indices, namely GER30, AUS200, US30, SPX500, UK100 and JPN225. The supply of commodities, energy and precious metals is very small and limited to gold (XAU/USD), silver (XAG/USD), WTI crude oil and natural gas (NGAS).
The range of instruments may not seem very extensive, but includes all major and most traded instruments in online trading, as well as a sufficient selection of Minors currency pairs. For beginners, however, the limited offer can be seen as an advantage, because many beginners, especially in Forex trading, often tend to trade too many instruments without having sufficient information about their dynamics, which often leads to unnecessary losses.
BlackBull Markets is a true No-Dealing-Desk (NDD) ECN broker. This means that there is never a conflict of interest between the broker and the client, as it is for example the case with market makers. As a true ECN broker, BlackBull Markets does not intervene in order execution prices and the broker does not trade against his own clients. The broker guarantees lightning-fast order execution with an exceptionally good infrastructure. The fibre-optic connection to the Equinix servers in New York, London and Tokyo, with close proximity to the world's most important exchanges, ensures lightning-fast order execution.
The BlackBull Markets website has a modern, clear design and offers visitors and customers all the important information about the company and the markets and instruments it offers. For an internationally active broker, however, the choice of available languages is rather limited. Besides English, only Spanish, Chinese, Malay and Korean are available. This may also be due to the fact that BlackBull Markets is not allowed to accept customers from some countries due to the regulation in New Zealand. This includes all OFAC-sanctioned countries, the USA, Spain and all countries that are considered too risky by the broker's compliance team. In New Zealand itself, BlackBull Markets only accepts "wholesale investors" or "eligible customers" as defined by the New Zealand Financial Markets Authority.
BlackBull Markets Trading Platforms
Like most online brokers, BlackBull Markets uses Metaquotes and the MetaTrader 4 trading platform. According to information on the website, the MetaTrader 5 platform will soon be available at BBM. The MT4 platform is available for all common systems, including Windows, Mac, iPhone/iPad as well as smartphones and tablets with Android operating systems. With the MetaTrader 4 platform, BlackBull Markets offers the world's most popular online trading platform. The MT4 shines by its more than extensive possibilities for the most different styles of trading. With the indicators already integrated into the platform, it enables comprehensive technical analysis of trading instruments, and the relatively simple possibility of developing individual indicators and automatic trading systems enables traders to best adapt the platform to their personal trading style.
Especially for users of automatic trading systems (Expert Advisors), the offer of Virtual Private Servers (VPS) from 3 different providers at BlackBull Markets is interesting. These enable virtually uninterrupted trading after the automatic trading systems have been set up on them. To use the VPS offer at BlackBull Markets, clients need a BlackBull Markets Prime account with a minimum deposit of $2,000 and a monthly trading volume of at least 20 lots.
BlackBull Markets Trading Accounts
Traders will find a selection of three different trading accounts at BlackBull Markets, which cover the needs of beginners to institutional clients.
BlackBull Markets ECN Standard Account
The ECN Standard Account is ideal for traders who are taking their first steps in real trading on the financial markets at BlackBull Markets. This type of account requires a minimum deposit of only $200, which limits the financial risk of the newcomer from the outset. Unlike ECN accounts with most other brokers, this account does not charge a commission for opening and closing a position. However, spreads starts from 0.8 pips, which is still a good one compared to the market. The minimum trading size is 0.01 lot (micro lot) and a leverage of up to 1:500 can be used. Order execution on the ECN standard account is done via the Equinix NY4 server in New York.
BlackBull Markets ECN-Prime Account
The ECN Prime account at BlackBull Markets adresses experienced and advanced traders and requires a minimum deposit of $2,000. Spreads on this account model start at just 0.1 pips and a $3 commission is payable on opening and closing a position. The commission makes the ECN Prime account more suitable for traders who already trade positions with larger volumes. The minimum trading volume here is also 0.01 lots, the maximum applicable leverage is also 1:500. Order execution on this account is via the Equinix servers NY4 in New York, LD4 in London and TY3 in Tokyo.
BlackBull Markets Institutional Account
As the name suggests, the BlackBull Markets Institutional account is aimed at institutional clients. It requires a minimum deposit of $20,000 and spreads start at 0.0 pips, with the associated commission negotiable with the broker. The maximum leverage is also 1:500 for this account model and the customer can agree with the broker on which servers the orders are to be executed.
BlackBull Markets Education and Tools for Traders
The areas of education for beginners and resources to assist traders are already on the website, but their content seems to be at least partly under construction. At the moment BlackBull Markets offers 10 different tutorial videos for beginners, which deal with the setup of the trading platform MetaTrader 4 as well as the use of the different possibilities of the platform, indicators or elements such as trend lines and Fibonacci Retracements. According to the already existing links on the website, additional trading guides and a trading glossary are planned. However, as these pages do not yet have any content, we cannot evaluate them either.
Also the resources for active traders are soberly considered very limited or are under construction. Currently, traders can find an economic calendar on the website with the most important economic data of the day, as well as some articles in the Markets Reviews section, which, however, deal more with the general behavior in trading and on the market than with the daily market action. These articles are therefore not suitable as assistance for current trading decisions. One can of course object that the provision of information about the market is not the primary task of a broker, but the provision of a first-class infrastructure for trading (which is really outstanding at BlackBull Markets). However, we believe that if the links are already published, they should be backed up by appropriate content.
BlackBull Markets Support and Customer Service
There are three ways to contact the support team at BlackBull Markets. If you prefer to talk to an employee in person, you can do so by calling the New Zealand and Malaysia offices (both free of charge if you call from these countries). The more favorable variant is however the Live Chat, which is available on the Website. However, this is not available 24/5 and we could not find out from the website at which times it is actually available. There is also the option of e-mail contact, for which different e-mail addresses for different question areas are specified on the website.
Screenshot BlackBull Markets website
BlackBull Markets - Final Rating
BlackBull Markets shows some weaknesses in education for beginners and resources to assist active traders. In return, BlackBull Markets offers an outstanding infrastructure that further enhances the advantages of a true ECN broker. So anyone who can fall back on other sources for education or market analysis but attaches great importance to reliable and lightning-fast order execution is certainly in good hands with BlackBull Markets.