BlackBull Markets Review: A Professional Trading Platform
Trade forex, CFDs and commodities on BlackBull markets.
BlackBull Markets is a New Zealand and Australian trading platform focused on offering a smooth, high-speed trading experience across a range of assets.
This review looks at how it works, how much it costs and what to watch out for when trading.
Important: This broker offers CFDs which are a leveraged product and can result in the loss of your entire capital. Most retail client accounts lose money trading CFDs. Please ensure you fully understand the risks involved.
Who can use BlackBull Markets?
To use BlackBull Markets you must be classified as a wholesale investor or an eligible investor under New Zealand law.
This means you’re either trading in a professional capacity, or you’ve been certified as an eligible investor after submitting written evidence outlining your relevant experience in the area.
If you’re not eligible, or looking for a more casual and beginner-friendly trading experience, you may want to compare other online share trading platforms.
What markets can I trade in?
BlackBull Markets lets you trade markets including:
- Indices: Trade stock market index CFDs, such as the US30, ASX200, the Dow and the Nikkei
- Forex: Trade major currencies against each other
- Precious metals: Gold and silver can be traded against the US dollar on BlackBull Markets.
- Commodities: Trade against oil and natural gas price changes.
Features of BlackBull markets
BlackBull Markets is oriented more towards day traders rather than long term investors, with features including:
- MetaTrader 4. BlackBull markets offers users MetaTrader 4 platforms, with trades executing as fast as 2-5 milliseconds with a VPS, access to Prime Liquidity providers for tight spreads and support for Expert Advisor programs. MetaTrader 5 is coming soon.
- Leverage. Trade with up to 500x leverage in certain markets.
- Demo accounts. Try before you buy with a BlackBull Markets demo account.
- Mobile, PC and tablet access. Access BlackBull Markets on your choice of device.
Institutional or high volume users who meet certain requirements may also be eligible for additional benefits and features, including:
- Free VPS service hosted in New York, London and Japan
- 24/6 dedicated technical support
- Customisable platforms
- Negotiable commissions
What are BlackBull Market’s spreads and fees?
BlackBull uses a model of different account tiers and the minimum deposits, spreads and fees will vary between account tiers.
Other fees may apply on occasion, including:
- Currency conversions. When you deal in a contract denominated in a currency other than USD, AUD, NZD, GBP or EUR, Blackbull takes a currency conversion fee of 0.5% over the current spot market rate.
- Swap charges. Depending on the situation, interest may be paid by you or to you when a contract is rolled over.
Is BlackBull Markets Trustworthy?
BlackBull Markets is a registered company in New Zealand, is registered with the Financial Services Provider Registry and is a member of the Financial Services Complaints Limited dispute resolution scheme.
BlackBull holds client funds with ANZ. While it segregates customer funds from its own, your funds are not segregated from other customers.
What customer support options are available?
You can find guides and answers in the FAQ section of BlackBull’s website, send emails to the support team, contact BlackBull customer support by phone or use the live chat service on the BlackBull website.
How do I sign up to BlackBull Markets?
- Go to the BlackBull website
- Click “sign up” at the top of the screen
- Enter your contact details and personal information
- Verify your email address, provide proof of identity and add any additional information required
- Wait for approval
Once your account has been approved, you can make a deposit and start trading.
Frequently asked questions
CFDs are complex financial products and traders are at high-risk of losing all or more than their initial investment.