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BlackBull Markets share trading review

Trade over 23,000 shares on markets around the world using a platform based here in NZ.

BlackBull Markets is better known as a forex and CFD broker but has recently launched its online share trading platform. The platform is offered through a partnership with US-based broker-dealer Interactive Brokers.

One of BlackBull Markets’ main selling points for Kiwi investors is that you get to deal with an NZ company and get locally based support, but you can not only invest on the NZX but on markets all around the world. The platform is worth a look for Kiwis who want to target investment opportunities at home and overseas; however, it’s worth mentioning that NZX trading was not yet available online at the time of writing, with only phone and email orders available.

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By

Tim Falk

Updated

Fact checked

Quick verdict

Good for

  • Access to a wide range of global markets
  • Mobile trading app
  • 24/6 locally based support
  • Competitive brokerage

Not so good for

  • Fee information could be clearer
  • Limited information on available markets
  • NZX trading not available online at time of writing

What accounts are available?

If you want to trade shares and ETFs on the NZX and overseas, you’ll need to open a BlackBull Markets Share Trading Account.

However, BlackBull Markets also offers the chance to trade the following:

  • Forex
  • Index and share CFDs
  • Commodities
  • Precious metals
  • Energy

To do so you’ll need to open either a Standard, Prime or Institutional Account, with Islamic Accounts also available. Check out our BlackBull Markets CFD review for more information.

Tools and features of Blackbull Markets’ share trading account

A BlackBull Markets Share Trading Account gives you access to the following features and resources:

  • Mobile trading app. The BlackBull Markets mobile app is available for Android and iOS devices. You can use the app to trade stocks, options, futures, futures options and forex.
  • Watchlists. Create personalised watchlists to monitor stocks you’re interested in, or choose from hundreds of pre-made watchlists based on your investment needs.
  • Customisable charts. You can research and analyse the market by customising stock charts based on your personal preferences. As well as factors like the chart type and time period, you can also add indicators and studies to a chart.
  • Order types. BlackBull Markets offers the use of more than 70 different order types, allowing you to make the most of trading opportunities as they arise.
  • Extended trading hours. Thanks to BlackBull’s partnership with Interactive Brokers, you can place trades during extended trading hours on overseas markets.
  • 24/6 support. You can access phone, email or live chat support from a NZ-based team 24 hours a day, 6 days a week.

Which markets can I invest in?

You can use your BlackBull Markets account to trade shares on markets in the following countries:

  • Australia
  • Austria
  • Belgium
  • Canada
  • Estonia
  • France
  • Germany
  • Hong Kong
  • Hungary
  • India
  • Israel
  • Italy
  • Japan
  • Latvia
  • Lithuania
  • Mexico
  • Netherlands
  • New Zealand (trading of NZX-listed shares only available via email and phone at time of writing)
  • Norway
  • Poland
  • Portugal
  • Russian Federation
  • Singapore
  • Spain
  • Sweden
  • Switzerland
  • United Kingdom
  • United States

Is BlackBull Markets trustworthy?

BlackBull Markets is a NZ-owned and operated business headquartered in Auckland. Founded in 2014 and better known for its forex and CFD trading accounts, the company is a registered Financial Services Provider and holds a Derivative Issuer Licence from the Financial Markets Authority. Its share trading execution partner, Interactive Brokers, is a registered broker-dealer and regulated in multiple countries around the world.

All client funds with BlackBull Markets are held in segregated accounts in NZ with ANZ Bank.

What are BlackBull Markets’ fees?

There’s no straightforward breakdown of BlackBull Markets’ fee structure on its share trading homepage. We’d like to see all charges for all markets listed in detail up-front to help potential customers know exactly how much brokerage they’ll pay.

Instead you find a table comparing BlackBull Markets’ brokerage costs against those of other brokers for specific trades on US, Aussie and Kiwi shares. Click the link below the table to be taken to a PDF explaining how the figures in the table were calculated. We gleaned the fee information below from this PDF.

FX FeesTransaction fee
US shares0.002% of trade value (minimum USD$2)Highest of USD$1 or number of shares multiplied by USD$0.005 (without exceeding 1% of trade value)
Australian shares0.002% of trade value (minimum USD$2)Highest of AUD$6 or trade value multiplied by 0.08%
NZ sharesN/AHighest of NZD$9 or 0.2% on trades less than NZD$10,000, then 0.12% on portion NZD$10,000 to NZD$20,000, then 0.08% on portion greater than NZD$20,000

How do I sign up?

You can register for a BlackBull Markets Share Trading Account by completing the following steps:

  1. Open a Share Trading Account application.
  2. Enter your name, email address and phone number.
  3. Provide your address, date of birth and tax information.
  4. Upload supporting documents to prove your identity.
  5. Submit your application and wait for it to be approved.
  6. Deposit funds into your account.
  7. Start trading.

How do I contact BlackBull Markets support?

Need help with your account or a particular transaction? You can contact the BlackBull Markets customer support team 24 hours a day, 6 days a week via:

  • Phone
  • Email
  • Live chat

Bottom line

BlackBull Markets is a relatively new arrival on the share trading scene. As such, you’ll have to dig a little deeper to find information about brokerage fees and available markets, while NZX trading is not yet available online.

However, BlackBull Markets does offer competitive brokerage for online traders, access to a wide range of overseas markets, and it’s also pleasing to see the inclusion of 24/6 locally based support.

But is BlackBull Markets the right provider for you? To find out, compare it with other online share trading platforms to find the best value and all the trading features you need.

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Important information: Powered by finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. 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 most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
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