Choosing a forex broker is a big decision for any new forex trader. You have to look at certain criteria to make sure that you’re not going to be stuck with a broker who doesn’t offer any support and instead indulges in fraudulent activity. This BlackBull Markets review should tell you all you need to know about this popular broker:
About BlackBull Markets
BlackBull Markets was established in 2014 by a group of highly skilled individuals who have prior expertise in the foreign exchange market and data security. They have quickly established themselves as one of the most successful online trading firms specializing in forex trading.
The city of Auckland, which is home to a fast-expanding Fintech industry, is where the company’s headquarters are located. As a result of BlackBull Markets’ ever-increasing popularity, the company has opened offices in several other cities, including New York, Kuala Lumpur, and London. They are quite proud that they always operate lawfully and confidently.
BlackBull Markets Types of Accounts Offered
BlackBull Markets provides a variety of trading accounts that are very adaptable to meet the specific needs of each client. A minimum lot size of 0.01 is required for all accounts, and the maximum leverage per account is 1:500. The spreads and commission fees charged by each account are the primary factors that differentiate one from another.
If you are interested in having low spreads and are willing to pay a commission cost of $6 per standard lot, then the ECN prime account would be the most economical choice for you to choose. If you don’t need extremely low spreads and would rather trade without paying commission, the regular ECN account is the one you should go with.
BlackBull Markets Trading Tools
BlackBull Markets does not supply a large number of other in-house stand-alone trading tools. However, they do provide the MT4 platform, which includes a sizable variety of built-in tools. To tell you the truth, I wouldn’t put too much value on having more tools.
The MT4 trading platform itself is loaded with more capabilities than the vast majority of traders really require. You may even increase its capabilities by using products that are either free or paid that are offered on the MQL marketplace. Not to add that the internet provides access to an almost unbelievably large number of MT4 tools.
BlackBull Markets Security and Reputation
“Customer service is great. Resolved a lot of issues that I’ve had this morning! Spreads are not quite on par with some other brokers. However, I will be staying with BlackBull due to the great customer service and the ability to trade on trading view!”
“I have found everyone goes the extra mile. However, you contact BlackBull, live chat, email, or phone, the team is so helpful and friendly. The best service. I highly recommend.”
“I have never had such a good customer experience. Not only is their offer great, but if you have any questions, you can reach out to them, and they’ll be with you in less than a minute! I would highly recommend them to everyone.”
“Cheers guys for outstanding relationship building and customer support. But more than anything, they are very robust at keeping your assets safe when there are several potential issues doing business online. They keep margins tight and costs lower. If you are looking to take advantage of their array of market instruments, you will be impressed like I was.”
BlackBull Markets Trading Conditions
A genuine Electronic Communication Network (ECN) broker is what you’ll find at BlackBull Markets. They are known as STP, which stands for Straight Through Processing, and NDD, which stands for No Dealing Desk (NDD). This suggests that the broker and traders do not have competing interests and that there is no potential for a conflict of interest.
When you execute a deal, it goes straight to the market at the very best price that is currently available at that given moment. If you are employing trading methods, such as scalping that attempt to capitalize on minor price swings, this is some very crucial information. This provides you with trading circumstances that are on par with those found in institutions.
BlackBull Markets Offering of Investments
Access to trade in a variety of markets is provided by BlackBull Markets. These markets include more than 64 major, minor, and exotic currency pairings, indices derived from major markets, precious metals such as gold and silver, and commodities such as energy, gas, and oil.
Clients have access to trading opportunities around the clock, five days a week. This begins when the market opens on Monday and continues until it closes on Friday. Because of the many time zones throughout the world, the particular opening hours of the brokers are not the same everywhere. They provide a substantial number of foreign exchange currency pairings and many other financial assets.
BlackBull Markets Customer Service
Chat, phone, and email assistance for customers are all accessible around the clock, every day of the week. BlackBull Markets strives to respond to all inquiries within 24 hours. They have representatives in all of the major markets around the world so that they can provide help and answer inquiries, both general and technical.
They have offices all over the world. In addition, customers are assigned personal account managers who are always available to provide assistance whenever it’s required. They have consistently provided me with a lot of help and support, and I’ve even had them get in touch with me to check in and see how things are going without being asked to do so.
BlackBull Markets Training
There is a training video part available on BlackBull Markets’ website. This area has a few lectures that cover fundamental themes, including how to utilize your trading account and how to perform chart analysis. In addition, the broker offers you access to various helpful trading guidelines and several market review articles every week.
If you already have experience in the market, then it’s possible that you won’t learn anything new from this article. On the other hand, I did come across a few intriguing pieces that brought to my attention a few prospective market shifts that I would have missed had it not been for those beneficial articles guiding me the right way.
BlackBull Markets Regulations
The New Zealand Financial Services Provider Registry recognizes BlackBull Markets Group as an authorized financial services provider (FSPR). In addition to that, they participate in the dispute resolution program run by New Zealand Financial Services Complaints Limited (FSCL).
Membership in an impartial dispute resolution system is a prerequisite for FSPR registration for any company. This requirement applies to all firms. The Financial Markets Authority has granted a license to Black Bull Group Limited, which enables the company to operate as a licensed Financial Services Provider.
On a personal level, I am content with this regulation. However, it would be preferable if, in the future, they were able to extend legislation into further jurisdictions.
BlackBull Markets Deposits and Withdrawals
Each person has access to various methods for depositing money into their account and taking money out. This includes sending money by a wire transfer from your bank, using a credit or debit card, or using an online payment processor like Skrill, fasapay, or Neteller.
There are going to be certain approaches that are going to be more time and effort efficient. I usually use e-Wallets to make deposits and withdrawals to and from my trading account, so the availability of digital payment choices is really convenient for me. Simply said, I find that it is a lot quicker, and I don’t always want to wait around for a bank transfer to process.
BlackBull Markets Advantages & Disadvantages (BlackBull Markets review)
Now that we’ve got the majority of BlackBull markets figured out, let’s take a look at the biggest advantages and disadvantages we’ve found during this journey. They are as follows:
- Over 20,000 different financial instruments up for trading
- Commission-free account options are available
- ECN and STP supported trading accounts
- Swap-free accounts for Muslim traders
- Customer support is available 24 hours a day, 6 days a week
- Does not accept traders belonging to certain countries
- Requires a minimum deposit of $200 to open an account
- Only supports trading on the MT4 platform
Is BlackBull Markets the Right Broker for You?
The expansion of BlackBull Markets is proceeding at a breakneck speed, and the company has been honored with several accolades along the way. The fact that they are dedicated to delivering great trading conditions, which include low spreads, high execution speeds, and low costs, is something that really appeals to me about them.
I believe that the choices of social trading and managed accounts might appeal to new traders. Because they provide such a wide variety of services as well as assistance, they are one of my go-to brokers. They make the entire procedure easier to understand and are always accessible to assist you with anything you want.
I hope this BlackBull Markets review will help you to choose the broker that you are looking for. Platforms and technologies provided by BlackBull Markets, which are among the finest in the business and are in place to ensure that customers can keep and expand their competitive advantage in the global markets, are among the best in the industry. I have no reservations about engaging in business with this great broker.