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Blackbull Markets Review

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Blackbull Markets
CFD service. Your capital is at risk
Minimum Opening Deposit
$0 - $6.00 R/T per Lot
Available Markets
MetaTrader 4
CFDs are leveraged products which involves greater risk than using cash resources only. You could lose all or more of your initial investment.


Trade foreign exchange and contracts for difference with this versatile New Zealand-based broker.

CFDs are leveraged products which involves greater risk than using cash resources only. You could lose all or more of your initial investment. Trade forex, CFDs and commodities with Blackbull Markets.Blackbull Markets is a New Zealand-based forex trading company that specializes in foreign exchange, contracts for difference (CFDs) and commodities. The company runs all of its trades exclusively through the MetaTrader 4 platform. It also offers several different types of accounts based on which minimum deposit, spread limit and commission structure you want.


  • Easy application. It's easy to open an account in a matter of minutes using Blackbull Markets' online application.
  • Industry-leading software. The MetaTrader 4 trading platform offers a user-friendly experience regardless of whether you choose to use a desktop or the mobile app.
  • Refer a friend. You'll get between US$100 and US$250 when you refer a friend and they make a certain number of trades.
  • Demo account available. You can sign up for a demo account to familiarize yourself with MetaTrader 4 without putting any real money on the line.


  • Not regulated in Canada. Since it's a New Zealand company, BlackBull Markets isn't regulated in Canada.
  • Minimum balances for all accounts. You'll need to deposit between $0 and $20,000 into your account before you can start trading. 
  • Exchange rates apply. You'll have to pay exchange rates to transfer your funds into NZD and then back again when you withdraw cash.
  • No equities or ETFs. You won't be able to invest in beginner stocks such as equities or exchange-traded funds with this broker.
  • Potential for financial losses. You could end up losing money if you make risky investments (with CFDs in particular known for their volatility).

In this guide

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Product details

Available Markets Forex
Commission $0 - $6.00 R/T per Lot
Minimum Opening Deposit US$0
Minimum trade size You'll need to deposit between $0 and $20,000 into your account before you can start trading. 
Platforms MetaTrader 4

What investments does Blackbull Markets offer?

You can choose from a number of different investment options with Blackbull Markets:

  • Foreign exchange. Trade currency pairs to take advantage of small fluctuations in global exchange rates.
  • Contracts for difference. Speculate on whether a commodity or equity will move up or down without having to invest in actual assets.
  • Precious metals. Trade products such as gold and silver to balance out your portfolio.

What types of CFD trades can I make?

  • Commodities. Anticipate price movements for resources such as gold, silver, crude oil and natural gas.
  • Equity indices. Speculate on the rise and fall of popular indices in Australia, Germany, Japan, the UK and the US (such as the S&P 500 or the Nikkei index).

What types of accounts does Blackbull Markets offer?

Blackbull Markets offers several different account types to its clients. These accounts are outlined below and include access to the MetaTrader 4 platform and mobile app.

You can also open specialized accounts such as Islamic Accounts and Active Trader Accounts if you have more specific needs.

Who is Blackbull Markets best for?

Blackbull Markets is best for new and experienced investors who want to trade forex, CFDs or commodities. Seasoned traders will probably already be familiar with the MetaTrader 4 platform and the basics of trading. Newcomers can access a number of educational tools to learn how to trade effectively with Blackbull Markets.

How easy is Blackbull Markets to use?

Blackbull Markets is fairly easy to use if you’re moderately tech-savvy. You simply need to sign up for the account you’re interested in and load money into your wallet.

Once you’ve downloaded MetaTrader 4, you’ll be able to set up your trades and get familiar with the user interface in both the desktop and mobile versions of the platform.

You can also sign up for a demo account to test the software out before you commit. You’ll even get $100,000 in imaginary funds to invest so you can see how the platform works.

What research does Blackbull Markets provide?

Blackbull Markets doesn’t offer a ton of research options, which is one of the main downsides of the platform. It does offer an in-house blog and an economic calendar that you can view to inform your decisions. It also offers educational resources for newcomers.

Pricing and fees

The price you pay for your Blackbull Markets account will depend on which type of account you sign up for. Below is an example of the fees:

  • Standard account. No commissions on trades but you’ll usually pay more on the spread
  • Prime account. $6 per lot but smaller charges on the spread
  • Institutional. Negotiable rates based on volume of trades
  • Active trader. Negotiable rates based on volume of trades

Is Blackbull Markets safe?

Blackbull Markets is considered safe even though it’s regulated in New Zealand instead of in Canada. The company has been around since 2014 and has a good reputation in the forex community.

The main downside of Blackbull Markets is that it’s not regulated by Canadian authorities like the Investment Industry Regulatory Organization of Canada (IIROC) or the Canadian Investor Protection Fund (CIPF).

How does Blackbull Markets keep my money safe?

Blackbull Markets maintains a number of physical, electronic and procedural safeguards designed to protect your account and personal information. For example, it checks for fraudulent activity on your account, encrypts all your personal information and keeps all of your funds in segregated accounts to protect you from losses.

How do I sign up?

If you think you meet all the eligibility criteria and you’re ready to start investing with Blackbull Markets, you just need to follow the steps below:

  1. Click the green “Go to site” button above to be securely redirected to the online sign-up page.
  2. Provide personal information like your name, email address, proof of ID and relevant documents.
  3. Review and submit your application.
  4. Get verified and load funds into your account to start trading.

How do I contact Blackbull Markets support?

You can contact Blackbull Markets by sending an email on its website or calling the Blackbull Markets support line. You can also visit the online client support section of its website to find answers to most questions, including how to sign up, fund your account and start trading.

Bottom line

Blackbull Markets is a New Zealand-based forex broker that offers a number of different trading accounts. It lets you trade currencies, contracts for difference (CFDs) and commodities using the industry-leading MetaTrader 4 software. Find out more about how this platform works and sign up for an account today to start trading.

Frequently asked questions about Blackbull Markets

This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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