BlackBull Markets broker review and analysis show the global forex broker was founded in 2014. The company is reportedly regulated by the Financial Markets Authority of New Zealand and the Financial Services Authority Of Seychelles but the sparse research materials left the BlackBull markets review struggling to compete with other forex brokers.
BlackBull Markets was founded in Auckland, the capital of New Zealand back in 2014. The founders decided to invest in the equities retail space and try to provide clients with the best trading options.
On the reviews of the Blackbull market, we can see that the platform offers trading options in more than 180 countries so far.
BlackBull Markets is an ECN broker and allows traders access to 26,6000 tradeable instruments on their Metatrader platforms, Tradingview, Webtrader, and more.
However, looking at the BlackBull Markets broker review, we can see that many users struggled with depositing and withdrawing funds which is always a red flag in an investment company.
BlackBull Markets Trading Fees
BlackBull Markets fees are quite low. There are multiple pricing structures for the different accounts. The benchmark fees include commissions, spreads, and financing costs for the brokers and as we can see, the forex fees are also quite low but not as low compared to other competitors.
The platform offers average non-trading fees and also there’s no deposit fee but the withdrawals do come with a price tag. The withdrawal fee is $5 per withdrawal no matter the method, whether you use a credit/debit card or electronic wallet. Furthermore, it costs $20 per withdrawal for bank transfers and there’s also a 5% fee if you deposit and withdraw without trading.
Also, there is no inactivity fee.
Account Types
BlackBull Markets reviews show that the platform offers three ECN account types that can vary in price and deposit requirements.
The company provides a swap-free and Islamic account that operates in full compliance with the sharia law while the swap-free accounts are offered as an option of the Prime, Institutional, and Standard accounts.
You can select different account types such as Individual accounts, owned by one individual. Furthermore, a Joint account is owned by two or more individuals and a company account which is owned by a legal entity.
The BlackBull Markets account opening process is fully digital and quite simple. The online application takes up to 15 minutes and then, there are a few steps to take.
A user has to select the account type based on ownership and enter their name, address, and email. There is some more personal information to be added as well like the source of income and date of birth. Then, one should select the account type, the preferred currency, and the leverage.
Make sure to upload documents and verify the address by uploading a photo of a national ID, driver’s license, and passport but bank statements and utility bills are accepted as proof of residence. The last step is to fund your account.
BlackBull Deposit and Withdrawals?
The BlackBull Markets review offers a range of funding solutions but always make sure to verify each step according to the place of residence and check what conditions and methods are applicable.
The BlackBull Markets has no minimum deposit and the fees are either small or none, allowing you to benefit from different various account-based currencies as well as local deposits available in some regions.
The platform allows fund deposits and withdrawals via various methods such as ones that are based on entity conditions, allowing you to choose from a base currency for the account for easy transfers and no conversion fees. You can use a credit card, e-wallets, Neteller, crypto, bank wires, and FASAPay.
Based on the BlackBull Markets broker reviews they removed a minimum deposit requirement while previously it was $200 and then it got lower than $50. Now, the minimum deposit is $0 for the ECN Standard Account but the requirement based on the account type will require $2000 as the first deposit.
BlackBull Markets Withdrawal Options
The BlackBull Markets doesn’t charge fees or deposits, and withdrawal options are available including used Bank transfers and credit cards but there are charges for withdrawals so the withdrawals will cost you a 5 base currency in USD.
To withdraw the funds from the account, users should log in to the account area or a Client Portal and then submit a request next, they have to fund the account and add all required data but then wait to process the request for two days.
Trading Platforms
The platform offerings as the BlackBull Markets reviews show, there is an option between MetaTrader4 and MetaTrader5 which both offer a simple option. They are suitable for beginners but also for professionals.
The platform’s clients can trade in Tradingview as well as the leading charting trading platform.
Web trading
The Blackbull platform features a Web trading option that is suitable for various devices that have a web version accessible from a browser. Web Trading is limited however because it has only a few tools and no desktop version.
The looks on the other hand are simple but lacking these tools can lead to an underwhelming trading experience.
-Mobile trading platform
Today, it is unimaginable to trade without using a mobile-based platform. BlackBull Markets allows you to trade on a mobile trading platform with a few charting features and offers.
-auto trading
With BlackBull Markets you can also perform automatic trading. There are no restrictions and there are no hedging strategies to choose from.
FAQ
- Is this broker legit?
BlackBull Markets falls shows on several key categories like research and education. It is also important to note that the company has a low Trust Score due to the small number of regulatory licenses.
- Is this broker good for beginners?
Although being fairly simple to use, the many options it has can be confusing for a beginner.
- Can you transfer funds between wallets?
Yes. All you have to do I locate the “internal transfer” tab and select to transfer funds from a trading account to a wallet.
- What deposit types are available?
Different locals provide different support from payment methods and they vary depending on the place you live. The accepted ones include bank wire, AstroPay, Boleto, Beeteller, China Union Pay, MasterCard, Neteller, Skrill, Crypto, FasaPay, OpenPayd, PicPay, Visa, Poli, and more.
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- Source: https://www.dcforecasts.com/reviews/blackbull-markets/
