BlackBull Market review - Regulations, Platforms, Instruments & Ratings.
4.28 •
87 REVIEWS
Updated: Mar 16, 2023
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BlackBullMarkets.com
5 star review by Marc Gruender, Germany
I'm working with BlackBull Markets since the 10th December 2018. Since that time more than 600 of my traders followed me to BlackBull to trade there. The support is fast and competent. The Execution is fast and you have positive slippage too. Since ASIC regulated broker aren't allowed to take EU clients anymore, New Zealand is the last reliable "offshore" location and BlackBull Markets is the perfect broker for european clients searching for higher leverage. I can totally recommend BlackBull Markets.
What is BlackBull Markets?
BlackBull markets is a New Zealand regulated forex and CFD broker established in 2014.
BlackBullMarkets offers MT4 and MT5 platforms by MetaTrader with available WebTrader, desktop and mobile apps. Black Bull trading instruments include over 70 forex currency pairs and CFDs for gold, Silver, Oil and Stock indexes.
BlackBull Market is integrated with ZuluTrade and Myfxbook copy-trading platforms, recently TradingView web platform was connected as well.
BlackBull offers some educational content for traders as well as in-house daily markets commentary.
Please read BlackBull Markets Reviews below and share live trading experiences with this broker.
Broker Details
| Minimum Trade Size: | 0.01 |
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| Maximum Leverage: | 500:1 |
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| Minimum to Open Live: | $0 |
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| Established: | 2014 |
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| Address: | Level 20 188 Quay Street Auckland 1010, New Zealand |
| Contact: | support@blackbullmarkets.com, (+64) 9 558 5142 |
| Regional offices: | |
| Regulators: | FSPR #FSP403326, FMA #FSP403326, FSA-S # |
| Prohibited countries: |
| Trading platforms: | MT4, MT5, WebTrader, TradingView |
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| Web Trading: | ✅ Yes |
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| Mobile Trading: | ✅ Yes |
| ECN: | ✅ Yes |
| Currencies: | (70+) |
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| Cryptocurrencies: | (5+) Bitcoin, Litecoin, Ethereum |
| CFD: | (5+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities, Futures |
Trading Conditions |
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| EAs/Robots: | ✅ Yes |
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| News Trading: | ✅ Yes |
| Scalping: | ✅ Yes |
| MAM: | ✅ Yes |
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| ZuluTrade: | ✅ Yes |
| Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Cryptocurrency, FasaPay, Neteller, Skrill, UnionPay |
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| Withdrawal Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Cryptocurrency, FasaPay, Neteller, Skrill, UnionPay |
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4.28 •
87 REVIEWS
Traders Reviews
A
Avoid broker
Service use: Live
Length of use: 0-3 Months
Massive slippage every trade avoid broker. Execution time is good but you will get slippage in every trade 0.5 pips +
Reply by Client Services Team submitted Mar 16, 2023:
Hi, aleste,
Thank you for taking the time. During holiday times, high volatility and illiquid markets, there is a risk of increased slippage and widening of spreads. We are an ECN broker and not a market maker, meaning we do not have control over these market conditions. We recommend you monitor your exposure closely, ensuring you have sufficient margin to avoid further problems.
Kind regards,
Client Experience Team | BlackBull Markets
Thank you for taking the time. During holiday times, high volatility and illiquid markets, there is a risk of increased slippage and widening of spreads. We are an ECN broker and not a market maker, meaning we do not have control over these market conditions. We recommend you monitor your exposure closely, ensuring you have sufficient margin to avoid further problems.
Kind regards,
Client Experience Team | BlackBull Markets
A
Worst support
Service use: Live
Length of use: 3-6 Months
I have few MT4 accounts with Blackbull markets and they were deactivated due to inactivity that is ok with me but I needed statements for these accounts for Taxation.
I contacted them over chat and they asked me to send me an email. I sent them an email request to send me statements and their support staff without checking my accounts are deactivated sent me email to do it myself by logging into my accounts.
I thought I might have just forgotten the password and asked them to reset my password and then they sent me an email again to do it myself without check that accounts have been deactivated and resetting password won't work and on top of that they don't show MT4 account on their portal and I can't reset password even if accounts were active.
This all happened over multiple days while I was waiting and contacting their support team on chat and they kept on insisting to send email to support instead helping me on chat.
After many days they sent me activity reports that were useless as there was no overall PnL. I contacted them again to send me proper reports and no one bothered replying. I has taken more than 1.5 months to get useless information from them.
I stopped using this broker many months ago due to many other issues like charging for withdrawl and no easy way to make deposits, wide spreads and so on
I contacted them over chat and they asked me to send me an email. I sent them an email request to send me statements and their support staff without checking my accounts are deactivated sent me email to do it myself by logging into my accounts.
I thought I might have just forgotten the password and asked them to reset my password and then they sent me an email again to do it myself without check that accounts have been deactivated and resetting password won't work and on top of that they don't show MT4 account on their portal and I can't reset password even if accounts were active.
This all happened over multiple days while I was waiting and contacting their support team on chat and they kept on insisting to send email to support instead helping me on chat.
After many days they sent me activity reports that were useless as there was no overall PnL. I contacted them again to send me proper reports and no one bothered replying. I has taken more than 1.5 months to get useless information from them.
I stopped using this broker many months ago due to many other issues like charging for withdrawl and no easy way to make deposits, wide spreads and so on
Reply by Client Services Team submitted Jan 5, 2023:
Hi arunricky,
We are unable to find the correspondence that you mention or even verify you as a client of ours. Can I kindly ask you to reach out to our team regarding this issue so that we can further assist you?
Thank you in advance.
Kind regards,
Client Experience Team | BlackBull Markets
We are unable to find the correspondence that you mention or even verify you as a client of ours. Can I kindly ask you to reach out to our team regarding this issue so that we can further assist you?
Thank you in advance.
Kind regards,
Client Experience Team | BlackBull Markets
T
Stop outs
Service use: Live
Length of use: 3-6 Months
BlackBull overall is great, easy to deposit money and you can link with MT and Trading View. But the stop-outs should be able to be changed my the customer. I get that you don't want us to have negative balance or something, but we should be able to change the amount. When I had started, the stop-out had screwed me because the stop-out would go off because I hadn't planned well. But the next day the price shot up, but if it weren't for the stop out I wouldn't have lost half my balance.
I get the reasoning for it but even if it could be as low as 1%.
I get the reasoning for it but even if it could be as low as 1%.
Reply by Client Services Team submitted Dec 14, 2022:
Hi, tradr,
Thanks for your review, it's much appreciated. Our margin calls are set at 75% and stop outs at 50%, this is a global setting applied across all clients and we can not adjust this on a client-by-client basis. This is done to protect clients from reaching a negative balance and is at some of the lowest levels in the industry, especially when trading with high leverage.
Kind regards,
BlackBull Markets
Thanks for your review, it's much appreciated. Our margin calls are set at 75% and stop outs at 50%, this is a global setting applied across all clients and we can not adjust this on a client-by-client basis. This is done to protect clients from reaching a negative balance and is at some of the lowest levels in the industry, especially when trading with high leverage.
Kind regards,
BlackBull Markets
How many chances do you need?
Service use: Live
Length of use: 0-3 Months
I was about to deposit $20k but it has been a pain--how many chances do you need?
1. In 2020 Andre A. ghosted me. Initially answered some questions but then just stopped communicating/not answering questions--but I opened an account anyway.
2. Advertised MT5 on their website but once you open a live account you are given MT4--when you ask about MT5 they say it's not yet available but coming soon. I feel duped.
3. Depositing: only gives you one account currency option. You then need to ask customer support about other options which takes next business day to respond.
4. If you have other funding issues you could try live chat 24/6 but it's really not live 24/6 because nobody is there during business hours and you wait very long for a response (I'm just across the ditch/about same time zone). Hey I'm just trying to deposit some money ASAP.
5. Just ran into an Upwork ad which could be Blackbull Markets wanting to pay $800 for 40 articles that answer common questions from MT5 users. It says article must include screenshots of MT5 using BlackBull markets MT5 platform. If it's the company, I'm definitely wondering about a lot of things. Link: https://www.upwork.com/jobs/~016d4b0bff6c4e1709
At this point, my gut tells me to stay away. I with two other brokers who give better support (among other things) so I guess I'll just add the funds to my existing accounts.
1. In 2020 Andre A. ghosted me. Initially answered some questions but then just stopped communicating/not answering questions--but I opened an account anyway.
2. Advertised MT5 on their website but once you open a live account you are given MT4--when you ask about MT5 they say it's not yet available but coming soon. I feel duped.
3. Depositing: only gives you one account currency option. You then need to ask customer support about other options which takes next business day to respond.
4. If you have other funding issues you could try live chat 24/6 but it's really not live 24/6 because nobody is there during business hours and you wait very long for a response (I'm just across the ditch/about same time zone). Hey I'm just trying to deposit some money ASAP.
5. Just ran into an Upwork ad which could be Blackbull Markets wanting to pay $800 for 40 articles that answer common questions from MT5 users. It says article must include screenshots of MT5 using BlackBull markets MT5 platform. If it's the company, I'm definitely wondering about a lot of things. Link: https://www.upwork.com/jobs/~016d4b0bff6c4e1709
At this point, my gut tells me to stay away. I with two other brokers who give better support (among other things) so I guess I'll just add the funds to my existing accounts.
1 trader has found this review helpful
Reply by Client Services Team submitted Feb 21, 2022:
Hi Pip_Farmer,
Thank you for your feedback; it's greatly appreciated as the BlackBull Markets team continually aim to improve client experience.
We apologise for the lack of response you received in 2020. The team member in question is no longer working with us, and we have been focusing on increasing the calibre of our engagements with clients over the past few years to avoid other issues like this.
MetaTrader 5 is now available for clients. We launched this product at the end of 2020, and before we did, there was a 'coming soon' page on our website, which we were using to gauge interest levels and demand.
Over the past several years, we have been working tirelessly to further expand our product offering and the range and availability of account access options, including funding methods. The range of funding methods we have available does depend on the country, and if you have any recommendations, we would love to hear about alternative options we can look at to make funding an easier experience.
Over the past year, we have also doubled our team size to ensure that live chat on our website and phone support is truly 24/6, and we are currently working on expanding that to 24/7. Unfortunately, COVID has impacted our team as well, and there are still times when we have limited support, but we can assure you that this is a top priority for our business.
I hope this response helps, and the team thanks you for your feedback despite the experience you have had. If you would like to speak to someone from our leadership team in more detail, we'd be happy to go over any other concerns you have.
Kind regards,
BlackBull Markets Support
Thank you for your feedback; it's greatly appreciated as the BlackBull Markets team continually aim to improve client experience.
We apologise for the lack of response you received in 2020. The team member in question is no longer working with us, and we have been focusing on increasing the calibre of our engagements with clients over the past few years to avoid other issues like this.
MetaTrader 5 is now available for clients. We launched this product at the end of 2020, and before we did, there was a 'coming soon' page on our website, which we were using to gauge interest levels and demand.
Over the past several years, we have been working tirelessly to further expand our product offering and the range and availability of account access options, including funding methods. The range of funding methods we have available does depend on the country, and if you have any recommendations, we would love to hear about alternative options we can look at to make funding an easier experience.
Over the past year, we have also doubled our team size to ensure that live chat on our website and phone support is truly 24/6, and we are currently working on expanding that to 24/7. Unfortunately, COVID has impacted our team as well, and there are still times when we have limited support, but we can assure you that this is a top priority for our business.
I hope this response helps, and the team thanks you for your feedback despite the experience you have had. If you would like to speak to someone from our leadership team in more detail, we'd be happy to go over any other concerns you have.
Kind regards,
BlackBull Markets Support
highly recommended broker
Service use: Live
Length of use: 0-3 Months
very good broker...
all trading conditions is good
customer support very friendly and helping
please provide payment methods for clients from south easth asian , like zotapay / paytrust88 / help2pay
that would be very nice and helping us that came from south east asian....because our banks will charge us a cost $30 on bank transfer and withdrawal.....thank you BBM
all trading conditions is good
customer support very friendly and helping
please provide payment methods for clients from south easth asian , like zotapay / paytrust88 / help2pay
that would be very nice and helping us that came from south east asian....because our banks will charge us a cost $30 on bank transfer and withdrawal.....thank you BBM
Reply by Client Services Team submitted Oct 5, 2021:
Hi Ivan, really appreciate your feedback and we are delighted to learn that you are enjoying your trading experience.
Frequently Asked Questions
Is BlackBullMarkets a good broker?
Unbiased traders reviews on ForexPeaceArmy is the best way to answer if Black Bull Markets is a good broker. https://www.forexpeacearmy.com/forex-reviews/11640/blackbullmarkets-forex-brokers
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.
Additionally, we'd recommend to check recent Black Bull Markets community discussions: https://www.forexpeacearmy.com/community/tags/blackbullmarketscom.
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.
Additionally, we'd recommend to check recent Black Bull Markets community discussions: https://www.forexpeacearmy.com/community/tags/blackbullmarketscom.
Is BlackBullMarkets legit?
BlackBullMarkets is a New Zealand company. It is the trading name of BlackBullGroupLimited.
BlackBullGroupLimited is registered with the Financial Services Provider Register (company number:5463921).
It is well recommended to verify the regulatory information and read the traders' reviews on ForexPeaceArmy from time to time as regulatory information can change and services can get better or worse. https://www.forexpeacearmy.com/forex-reviews/11640/blackbullmarkets-forex-brokers.
BlackBullGroupLimited is registered with the Financial Services Provider Register (company number:5463921).
It is well recommended to verify the regulatory information and read the traders' reviews on ForexPeaceArmy from time to time as regulatory information can change and services can get better or worse. https://www.forexpeacearmy.com/forex-reviews/11640/blackbullmarkets-forex-brokers.
What is the maximum leverage for BlackBullMarkets?
BlackBullMarkets offers a maximum leverage of 500:1 for all types of forex accounts.
What account types does BlackBullMarkets offers?
BlackBullMarkets offers three types of forex accounts which are:
- Standard account
- Prime account
- Institutional account
Does BlackBullMarkets offer Islamic (swap-free) accounts?
Islamic, in another word swap-free, accounts are offered in BlackBullMarkets's Standard, Prime and Institutional Accounts, retaining all the features of the regular account types.