BlackBull Markets Review

James Wilson

Written by

James Wilson
Edith Balazs

Fact Checked by

Edith Balazs

Updated

Jan 4, 2026
Broker review header

90

Trust Score: 90/100

Based on regulatory status, company history, and financial transparency

  • 26,000+ tradable instruments available
  • Regulated by FMA (New Zealand - Tier-1) and FSA (Seychelles)
  • ECN execution via Equinix NY4 servers (<75ms latency)
  • Raw spreads from 0.0 pips on ECN Prime
  • Direct TradingView integration
  • BlackBull CopyTrader for social trading
  • $0 minimum deposit on ECN Standard
  • MT4, MT5, cTrader, TradingView platforms

Founded

2014

Headquarters

Auckland, New Zealand

Clients

80,000+

Why choose BlackBull Markets

BlackBull Markets is a rapidly growing ECN forex and CFD broker founded in 2014 and headquartered in Auckland, New Zealand. Regulated by the FMA (New Zealand - Tier-1) and FSA (Seychelles), BlackBull is known for its institutional-grade execution speed via Equinix NY4 servers, tight raw spreads from 0.0 pips, and an impressive selection of 26,000+ tradable instruments through BlackBull Shares. The broker offers MT4, MT5, cTrader, TradingView direct integration, and the proprietary BlackBull CopyTrader for social trading. With no minimum deposit on Standard accounts and competitive $6 round-turn commission on Prime accounts, BlackBull caters to both beginners and experienced traders. Client funds are segregated at ANZ Bank with negative balance protection.

Pros

  • FMA Tier-1 regulation (New Zealand)
  • 26,000+ instruments via BlackBull Shares
  • Excellent ECN execution (<75ms latency)
  • Direct TradingView integration
  • $0 minimum deposit on Standard
  • No inactivity fees
  • Competitive $6 RT commission on Prime

Cons

  • $5 flat withdrawal fee on all methods
  • ECN Institutional requires $20,000 minimum
  • Limited cryptocurrency selection
  • No FSCS or ICF investor compensation
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BlackBull Markets

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Popular choice

Min Deposit:

$0

Inactivity Fee:

No

Regulated:

Yes

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BlackBull Markets offers competitive ECN pricing with three account tiers. ECN Standard has no commission with spreads from 0.8 pips. ECN Prime offers raw spreads from 0.0 pips with $3 per side ($6 round turn) commission. ECN Institutional provides the tightest spreads with $2 per side ($4 round turn) commission. Deposits are free, but all withdrawals incur a flat $5 fee. No inactivity fees apply.

InstrumentStandardRaw/Pro
EUR/USD0.8-1.0 pips (Standard)0.0-0.3 pips + $3/side (Prime)
GBP/USD1.0 pips (Standard)0.2 pips + $3/side (Prime)
USD/JPY1.0 pips (Standard)0.2 pips + $3/side (Prime)
Gold (XAU/USD)VariableVariable + commission
S&P 500 (US500)0.4 points0.4 points
BTC/USDVariableVariable

Deposit Fee

$0

Withdrawal Fee

$5 flat (all methods)

Inactivity Fee

None

Account Maintenance

$0

Non-trading fees

Inactivity fee: No.

BlackBull Markets is regulated by the Financial Markets Authority (FMA) in New Zealand, a Tier-1 regulator ensuring high standards of client protection and operational transparency. The broker also holds a license from the FSA Seychelles for international clients. Client funds are held in segregated accounts at ANZ Bank, one of Australia's largest banks. Negative balance protection is provided for retail clients. BlackBull is a member of the Financial Services Complaints Limited (FSCL) for dispute resolution.

Regulatory Status

RegulatorCountryTierLicense
Financial Markets Authority (FMA)New ZealandTier-1FSP403326
Financial Services Authority (FSA)SeychellesTier-3SD045

Safety Features

Segregated AccountsYes
Negative Balance ProtectionYes
Investor ProtectionSegregated accounts at ANZ Bank, Negative Balance Protection, FSCL membership
Compensation SchemeFSCL Member (New Zealand dispute resolution)

Is regulated?

Yes, heavily regulated.

Find your safe broker

BlackBull Markets offers free deposits via credit/debit cards, bank wire, Skrill, Neteller, and other e-wallets. Deposits are typically instant for cards and e-wallets, 1-3 days for bank wires. All withdrawals incur a flat $5 fee regardless of method - this is the broker's main disadvantage. The broker supports 9 base currencies to minimize conversion fees. Minimum deposit is $0 for Standard, $0 for Prime (updated from $2,000), and $20,000 for Institutional.

Deposit Options

MethodProcessing TimeFeeMin. Deposit
Credit/Debit Card (Visa, Mastercard)InstantFree$0
Bank Wire Transfer1-3 business daysFree$0
SkrillInstantFree$0
NetellerInstantFree$0
Other E-walletsInstantFree$0

Withdrawal Options

MethodProcessing TimeFeeMin. Withdrawal
Credit/Debit Card1-3 business days$5 flat$0
Bank Wire Transfer1-3 business days$5 flat$0
Skrill/NetellerInstant$5 flat$0

Base Currencies

USD, EUR, GBP, AUD, NZD, SGD, CAD, JPY, ZAR

BlackBull Markets offers a fast online account opening process with three ECN account types. ECN Standard has no minimum deposit and no commission. ECN Prime offers raw spreads with $0 minimum (recently updated). ECN Institutional requires $20,000 minimum with custom pricing. Verification requires ID and proof of address. Demo accounts are available. Islamic swap-free accounts available upon request.

Account Types

Account TypeMin. DepositKey Features
ECN Standard Account$0
  • Spreads from 0.8 pips
  • No commission
ECN Prime Account$0
  • Raw spreads from 0.0 pips
  • Commission $3 per side ($6 RT)
ECN Institutional Account$20,000
  • Tightest raw spreads
  • Commission $2 per side ($4 RT)
Islamic Account$0
  • Swap-free trading
  • Available for Standard and Prime

Verification Steps

  • Time to open: Same day for most applications
  • Demo Account: Yes
  • Islamic Account: Yes
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BlackBull Markets offers multiple mobile trading options including the proprietary BlackBull Trade app, MT4/MT5 mobile apps, TradingView mobile app (for connected accounts), and cTrader mobile. The apps provide full trading functionality with real-time quotes, charting, and order management. Push notifications and price alerts are available.

App Features

  • BlackBull Trade proprietary app
  • MT4/MT5 mobile apps
  • TradingView mobile integration
  • cTrader mobile app
  • Full trading functionality
  • Real-time quotes and charting
  • Push notification alerts
  • Account management and funding
  • Biometric login (Face ID/Touch ID)

BlackBull Markets offers an excellent platform suite including direct TradingView integration, MetaTrader 4, MetaTrader 5, and cTrader. TradingView integration allows trading directly from TradingView charts with BlackBull's execution. BlackBull CopyTrader provides social trading, and BlackBull Invest offers access to real stocks, ETFs, bonds, and options. Autochartist and ZuluTrade/Myfxbook are integrated. Free VPS hosting available for qualifying traders.

Supported Platforms

  • TradingView: Direct trading integration with TradingView's world-class charting.
  • MetaTrader 4 (MT4): Industry-standard forex trading platform.
  • MetaTrader 5 (MT5): Advanced multi-asset trading platform.
  • cTrader: Premium ECN platform with advanced features.
  • BlackBull CopyTrader: Proprietary social trading platform.

BlackBull Markets offers one of the largest instrument selections in the industry with 26,000+ assets available through BlackBull Shares and BlackBull Invest. This includes 70+ forex pairs, 23,000+ stock CFDs from 80 global exchanges, indices, commodities, and cryptocurrencies. Leverage varies by regulatory entity - up to 500:1 for FMA/FSA clients. BlackBull Invest provides access to real stocks, ETFs, bonds, and options.

Available Instruments

Forex Pairs70
Indices23
Stocks26000
Commodities20
Cryptos11
ETFs500

Leverage Limits

InstrumentMax Leverage
Forex500:1 (FMA/FSA)
Indices100:1
Stocks20:1
Crypto5:1

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Frequently Asked Questions

Yes, BlackBull Markets is regulated by the FMA (New Zealand - Tier-1) and FSA (Seychelles). The broker has operated since 2014 with a clean regulatory record. Client funds are segregated at ANZ Bank with negative balance protection. BlackBull is a member of FSCL for dispute resolution.

BlackBull has $0 minimum deposit for ECN Standard and ECN Prime accounts, making it highly accessible. The ECN Institutional account requires a $20,000 minimum deposit for custom pricing and VIP services.

ECN Standard offers spreads from 0.8 pips with no commission. ECN Prime offers raw spreads from 0.0 pips with $3 per side commission ($6 round turn). ECN Institutional provides the tightest spreads with $2 per side ($4 round turn).

Yes, BlackBull charges a flat $5 fee for all withdrawals regardless of the payment method. This is one of the broker's main disadvantages. Deposits are free.

Yes, BlackBull has direct TradingView integration, allowing clients to trade directly from TradingView charts using BlackBull's execution. This is one of the broker's unique advantages.

BlackBull offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, direct TradingView integration, BlackBull CopyTrader for social trading, and BlackBull Invest for stocks/ETFs/bonds/options.

Yes, BlackBull offers BlackBull CopyTrader, a proprietary social trading platform. Additionally, ZuluTrade and Myfxbook integrations are available for copy trading.

BlackBull offers leverage up to 500:1 on forex for clients under FMA (New Zealand) and FSA (Seychelles) regulation. Indices up to 100:1, stocks up to 20:1, and crypto up to 5:1.

BlackBull Invest is a separate platform offering access to real stocks, ETFs, bonds, and options. It complements BlackBull Shares which provides 26,000+ CFD instruments.

No, BlackBull Markets does not charge inactivity fees. Your account will not be penalized for periods without trading activity.
James Wilson

James Wilson

Risk Management • Regulation • Compliance

Author of this review

James is a certified Financial Risk Manager (FRM) and former compliance officer for an FCA-regulated broker. He focuses on evaluating broker safety, regulatory status, and helping traders understand leverage and capital preservation strategies.

Risk Management Specialist — Everything you find on BrokerAnalysis is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback.

Risk Warning: Forex/CFD trading involves significant risk. 68-80% of retail accounts lose money.|Affiliate Disclosure: We may earn commissions from listed partners.|Not Advice: For educational purposes only.

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