BlackBull Market review - Regulations, Platforms, Instruments & Ratings.

4.378 · 85 REVIEWS
Updated: May 24, 2022 ·  · Is this your company?

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.
Read more traders reviews >>

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.

BlackBull Markets

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum Deposit: $200
Established: 2014
Address: Level 22 120 Albert Street Auckland 1010, New Zealand
Customer Service:, (+64) 9 558 5142
Regional offices:
Regulations: FSPR #FSP403326, FMA #FSP403326, FSA-S #
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
WebTrader: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (70+)
CFD: (5+) Gold, Silver, Stock Indexes, Oil

Trading Conditions

EAs/Robots: ✅ Yes
News Spike Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
ZuluTrade: ✅ Yes
Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, FasaPay, Neteller, Skrill, UnionPay
Withdrawal Methods: Bank Wire (Bank Transfer), VISA, MasterCard, FasaPay, Neteller, Skrill, UnionPay

Live discussion

Join live discussion of on our forum

Go to forums profile provided by Client Services Team, Apr 25, 2018

We were founded with the goal of becoming the leading online Financial Technology and Foreign Exchange broker. BlackBull Markets is a true ECN, No Dealing Desk brokerage specializing in Forex, CFDs, Commodities, Fibre Optic Communications and Fintech solutions for a global clientele.

Institutional grade products available to our Retail Clients:
An unrivaled depth of market (up to 100 lot trades per click at 1:500 leverage)
Proprietary trade-order aggregation system decreasing spreads while increasing execution speeds and available markets
Customised account support with personal account manager with 24/6 live support
FREE Virtual Private Servers (VPS) service with Prime spreads.


Your company video here? Contact ad sales

4.378 · 85 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

Sydney, Australia,
Feb 18, 2022,
Registered user

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 Almeida 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:

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 22, 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
jakarta, Indonesia,
Oct 2, 2021,
Registered user

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
Reply by Client Services Team submitted Oct 6, 2021:
Hi Ivan, really appreciate your feedback and we are delighted to learn that you are enjoying your trading experience.
Ngoc Trinh,
Malaysia, Malaysia,
Jun 12, 2021,

Huge spread and credit charge

Service use: Live

Length of use: over 1 Year

As compare... Blackbullmarkets have a huge spread with institutional account and there is credit card charge nowadays. Not recommended to trade anymore with this broker. There is other broker better than this.. search it and compare it.
  1 trader has found this review helpful
Reply by Client Services Team submitted Jun 15, 2021:
Hi Ngoc,

Thank you for your feedback, it's greatly appreciated. Our institutional account is geared towards higher ticket traders looking to take advantage of a larger top of book. This greater market depth, although presenting a sound execution environment, does not necessarily mean tighter spreads than our ECN Prime Account. Therefore, if you are after a more aesthetically appealing spread, we do offer spreads from 0.1 on EURUSD and 10c on Gold. Please do email and cite this review for a change over.

Additionally, we have taken on a lot of feedback regarding credit card fees, and these are being largely removed across all clients. This should create a friendlier environment to trade and reduce costs.

Hope this response helps and for any other questions, please let us know.

Kind regards,
BlackBull Markets Support Team
St.John's, Canada,
Apr 22, 2021,
Registered user

Great broker, please provide Interac Withdrawal for Canadians

Service use: Live

Length of use: over 1 Year

I am with BlackBulls for more than 3 years, great broker with good trading conditions, the only thing they need to do to have more Canadian clients is to provide withdrawal options by Interac, currently they do offer deposit with interac which great for Canadian clients, but in order to withdraw using that deposit method your option is limited to bank transfer which is expensive once you receive your withdrawals as Canadian banks charge a lot for incoming international transfers and that is not a good option to withdraw, I they provide withdrawal option by interac soon, thank you.
  1 trader has found this review helpful
Reply by Client Services Team submitted Jun 15, 2021:
Hi TradeSafe,

Thank you very much for your feedback and we are delighted that you are enjoying the service with BlackBull Markets.

Wishing you the best with your trading strategies.

Kind regards,
BlackBull Markets Support
Melbourne, Australia,
Apr 1, 2021,
Registered user

Limited services with incompetent tech support

Service use: Live

Length of use: 0-3 Months

I am an Australian citizen. In early January 2021, I applied for a trading account with New Zealand registered broker, BlackBull Markets (BBM) who are able to offer higher leverage than is now available to Australian retail traders with non professional accounts. Changes to Australian trading accounts took place under new ASIC regulations that were introduced in March 2021.

I made a mistake in the funding currency that I entered in one of the online application forms. The default currency on the form was US dollars. I failed to change it to AU dollars. I was then unable to edit or otherwise correct this item and was concerned that this error might create problems at some stage later down the track. I tried to submit a support request from the client portal where it states -

"Here you can download the mt4 trading platform, submit a support ticket, deposit/withdraw funds into/from your account, transfer money from an account
to another and much more".

But there was no facility that I could find to submit a support ticket from this portal. Some time later I was told to submit support requests to the account
manager by email.

I more or less resolved the problem of the funding currency error via BBM's live chat system. I was told that this particular piece of information was irrelevant. If so I thought, why did it appear on the application form at all? Nearly two months later after reporting this problem, the portal still displayed the same erroneous and misleading support ticket message even though it would be a quick and simple matter to fix it.

Despite having already provided colour copies of my passport and driver's license, I was required to provide front and side profile pictures of my head and a picture of my Australian passport using a web app provided by BBM. This web app proved difficult and frustrating to use and the instructions provided were highly misleading. The instructions suggested that a high quality web cam was needed to capture all the fine print on the passport image. My first attempt was rejected. I sent an email explaining the problems I had encountered and received a very curt response instructing me to try again. I was feeling quite annoyed and made no effort to take any care with the second attempt. I used an ordinary cheap web cam and much of the printed text on my passport was illegible as a consequence. This second attempt certainly did not comply with the instructions about legibility but it was accepted and my account was
opened. I simply shrugged my shoulders and made a mental note of what seemed to me to be an extremely shoddy administrative process.

Transferring funds to account
I then transferred $AU2000 to my new trading account using international bank transfer. The cost charged by my own bank was $18. There was no charge
at the brokers end and the funds were transferred to my trading account in a timely manner.

Technical support
After trading on this new account for a while I noticed a lack of historical data. BBM appears to provide less than a month of historical data on major currency pairs which is inadequate for many indicators, EA’s or back tests that run on the MT4 platform. While it is possible to download and import data into MetaTrader from an external source, this can be a time consuming and potentially error prone process. I reported this problem about the lack of historical data thinking that it might have just been an incorrect setting on the BBM server. From the outset I was given the run around. I have many years of experience with MetaTrader 4 as well as a solid technical background. I slowly formed the opinion that BBM’s technical support person(s) didn’t know what they were talking about. After several emails back and forth I demanded a proper answer and receive the following.

"I understand that the data available is insufficient for you're needs, but unfortunately there is no more data we can provide other than what is there in the
MT4 History centre to download".

Even this last statement is technically incorrect. The data in the MT4 history centre is what is already on my computer. It has only a limited correlation to what BBM can or are willing to provide.

Another problem that I experienced and reported was that BBM do not provide the currency pair USDSEK (USD/Swedish Krona) which is one of the 6 currency
pairs used to define the USDollar index. Without this currency pair the US dollar index can not be calculated. Indicators and EA’s that depend on it will therefore not work. BBM also do not provide a US dollar index CFD.

I compared spreads on a number of occasions between BBM, and two other brokers' accounts. I carried out a number of these tests at both busy periods
and quiet periods. BBM spreads were typically 50% to 100% higher than the other two. These high spreads from BBM could have a significant impact on the profitability of traders who trade short time frames.

Swap costs
I held three different currency positions open overnight and over the weekend to check swap costs. These can also be checked in the contact specification for each currency pair or instrument on the MT4 platform, but I wanted to see what showed up on my account. The swaps debited to my account turned out to be more than three times greater than thee swap costs for the same currency pairs with one of my other brokers. These high swap costs could have a significant impact on the profitability of traders who hold positions for long periods of time.

Transferring funds out of my account.
The BBM account proved unsuitable for my needs so I transferred all the money in it back into my bank. The transfer proceeded in a satisfactory and timely manner. The cost of this transfer at the New Zealand end was $AU20. The round trip transfer fees was therefore $AU38.00 for an account of $2000.

My opinion, based on the experiences described here, is that BlackBull Markets
provide a limited and overpriced service for retail FX trading compared to at least two other mainstream Australian registered brokers. Furthermore their apparent lack of technical competence is disturbing inasmuch as they operate an MT4 server which controls client’s funds. I believe that some of BBM’s administrative systems are also cause for concern. I sent a copy of this report to BBM and invited a response. To date I have not heard from them.
  4 traders have found this review helpful
Reply by Client Services Team submitted Apr 7, 2021:
Hi Wilsonts,

Thanks for your feedback, it's greatly appreciated and for purpose of responding, we are keen to address a few points here.

1. Submitting a ticket with our support team - to submit a ticket, the best way is either from your portal, by emailing, calling our phones or visiting our live chat. Our office is manned 24/6 and happy to help with any query you have. I am glad to know that you resolved your issue initially by visiting our live chat.

2. Verification - as a New Zealand (FMA) regulated Broker, we are obliged to follow a more stringent regime for account on-boarding and this would imply additional facial verification checks. 99% of our clients have no issues with completing this and it's usually a simple check by taking a picture on your phone, then submitting to finalise. Again, we are terribly sorry for the technical issues you faced here.

3. Historical Data - We contacted Metaquotes regarding this issue. The reason why there are not as many bars as expected in the historical data is due to the number of symbols we have on our server which restricts us from having large historical data on our charts. As we are a retail broker and have various account options, the symbols we have on our server are quite a few Unfortunately we do not store historical data either so not much we can do here to help.

4. USD/SEK - We do indeed offer this pair on our MT5 platform.

5. Please do reference our ECN Prime account when comparing spreads, as we price extremely competitively, with FX Majors starting from 0.1, plus a commission.

6. Swaps - it looks like you held your trades over a Wednesday night, which was the reason the swaps tripled, this is to cover the weekend swap and is very normal.

Once more, your feedback is greatly appreciated and we hope to support your trading in the future.

Kind regards,
Support team,
BlackBull Markets

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.

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:

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.

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
All the three types are equipped with leverage up to 500:1.

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.