BlackBull Markets review and ratings

Established 2014
Location New Zealand
Regulation FSPR
Offices Auckland, London, Kuala Lumpur
Broker type ECN
Leverage up to 1:500
Deposit from 200 USD
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5 TradingView FIX API (protocol)
Instruments Currencies Indices Metals Energies
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay UnionPay

Company information

BlackBull Markets is a forex broker located in New Zealand, regulated by the Financial Service Providers Register (FSPR).


BlackBull Markets accepts clients from all over the world, excluding USA, Brazil, Venezuela, Russia, Ukraine, Belarus, China, Egypt, Iran, Yemen, Nigeria, Zimbabwe and some other FATF sanctioned countries.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

20+ Currency Pairs Based on major and minor world currencies.
6 Indice CFDs Based on baskets of different blue-chip stocks.
2 Metal Spot CFDs Based on Gold and Silver.
2 Energy Spot CFDs Based on Crude Oil (WTI, Brent).

Comprehensive review

BlackBull Markets is a forex & CFD brokerage company headquartered in New Zealand and with additional offices located in the UK and Malaysia. The broker has been in business since 2014, making it one of the well-established players in the industry. The registered company name behind the broker is Black Bull Group Limited, incorporated in New Zealand under company registration number 5463921.

As is always the case with forex brokers in New Zealand, BlackBull Markets is fully regulated by the the country’s Financial Service Providers Register (FSPR). As such, all clients can rest assured that there will always be a credible government agency they can turn to in the event of any disputes with the broker, or in the rare event that the broker goes out of business.

Fortunately, New Zealand’s financial regulator has taken more of a hands-off approach to forex broker regulations than its counterparts in for example the US and Europe. As a result, high leverage of up to 1:500 is available for all clients trading with BlackBull Markets, including EU residents.

In terms of trading instruments, BlackBull has a somewhat limited selection compared to many other brokers. Still, however, the choices include more than 20 foreign currency pairs, six major stock indices, and the popular commodities gold, silver, as well as WTI & brent oil. All of the assets are traded as leveraged contracts-for-difference, better known as CFDs, which makes it easy to go both short and long at any time.

As far as trading platforms goes, BlackBull Markets gives its clients the choice between trading on the classic MetaTrader 4 (MT4) or the newer MetaTrader 5 (MT5) platform. Both of these platforms are still incredibly popular in the forex trading community, despite their old age. Most importantly, perhaps, is the huge selection of custom trading strategies and indicators that are available for the platforms, in addition to the ability to code own custom trading algorithms for both platforms.

Unlike most other brokers, BlackBull is a pure ECN (electronic communications network) broker. This means that it does not match any client orders internally via a dealing desk, but instead passes all orders on to liquidity providers that handle the order matching. As a result of this, all account types offered by the broker are ECN-style accounts with relatively tight spreads.

Large traders looking for the very best spreads should go for the ECN Institutional account, which comes with spreads starting from 0.0 pips and “negotiable” commissions. However, the minimum balance requirement for this account is rather high at USD 20,000, which unfortunately keeps it out of reach for many independent traders. In these cases, the ECN Prime account may be a better choice, with a minimum balance of USD 2,000 and spreads from 0.1 pips. For new traders who are just getting started in forex, however, the ECN Standard account remains a fairly good option with its USD 200 minimum balance, commission-free trading, and spreads starting from 0.8 pips.

The broker’s New Zealand office can be reached for any inquiries directly via phone or live chat, both of which are open 24 hours on all trading days. In addition, Malaysian clients can also reach the broker at the Kuala Lumpur office via a local Malaysian customer support line, while Chinese-speaking clients can get dedicated Chinese language support via email.

All in all, BlackBull Markets is clearly a broker with a well-established position in its home markets in New Zealand and Malaysia, where it offers localized 24 hour support for its clients. For some traders, however, the selection of assets available for trading from this broker may be a bit small, with only about 20 forex pairs, and no stock or crypto CFDs for example. Still, though, there is no doubt that the 1:500 leverage offered by the broker remains attractive to some traders, and in particular for those from jurisdictions where leverage is otherwise severely restricted.

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