BlackBull Markets Overall rating

We tested Blackbull Markets using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.

Trustworthiness & Regulation

Blackbull Markets, founded in 2014, is regulated by several authorities, including the UK FCA, NZ FMA, and SC FSA. Despite being relatively new to the market, it has quickly risen in popularity, boasting a 3.8 out of 5 popularity rating and ranking 43 out of 1101 forex brokers based on expert ratings.

However, there are currently no user reviews available, which could be a concern for potential clients looking for peer feedback. The broker does not provide its financials publicly and is privately owned, which might raise transparency issues.

Nevertheless, it offers segregated client money and negative balance protection, ensuring a certain level of security for its clients. It’s important to note that even highly regulated and successful financial firms have failed in the past.

Company	Licenses & Regulations	Segregated Client Money	Deposit Compensation Scheme	Negative Balance Protection	Rebates	Max. Leverage Retail Clients
BlackBull Group UK Limited	United Kingdom - UK FCA		up to £85,000			30 : 1
Black Bull Group Limited	New Zealand - NZ FMA					500 : 1
BBG Limited	Seychelles - SC FSA					500 : 1

Deposit Insurance

Blackbull Markets supports deposit insurance and investor compensation programs under its regulatory frameworks. In the UK, clients are covered by the Financial Services Compensation Scheme (FSCS), which compensates up to £85,000 if the firm fails.

In New Zealand, there is no deposit compensation scheme, but segregated client money is maintained. In Seychelles, while there is no deposit compensation scheme, client funds are also kept segregated from the company's operating capital, ensuring a level of protection.

Spreads and Costs

Blackbull Markets offers competitive average forex spreads of 1.06 pips, which are generally in line with market leaders. Compared to other brokers, Blackbull Markets provides favorable spreads across various asset classes, making it a cost-effective choice for traders.

Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers

Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.

Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.

Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.

Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.

Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers

Swap Rates/Financing Fees

Swap rates, also known as financing fees, are the costs associated with holding positions overnight. Positive swap rates pay out to traders, while negative swap rates incur costs.

Blackbull Markets has average swap rates that are generally in line with industry standards but tend to be on the higher side compared to some leading brokers.

Does Blackbull Markets Offer Islamic/Swap-free Accounts?

Islamic trading accounts, also known as swap-free accounts, are designed to comply with Sharia law, which prohibits earning interest. Blackbull Markets does offer Islamic accounts, providing an alternative for traders who adhere to Islamic principles.

These accounts do not incur swap or rollover charges on overnight positions. To open an Islamic account, clients must provide proof of their Islamic faith, and the account is subject to approval by Blackbull Markets.

Other Fees

Aside from spreads, commissions, and swap rates, Blackbull Markets charges additional fees such as withdrawal and inactivity fees. The broker charges a $5 withdrawal fee per transaction.

Inactivity fees are applied to accounts that remain inactive for over 12 months, with a fee of $15 per month. These fees are relatively standard in the industry and should be considered when calculating the total cost of trading with Blackbull Markets.

Comparison to other Brokers

When comparing Blackbull Markets to other industry-leading brokers such as IC Markets, Tickmill, XM, Pepperstone, Axi, and IG, several factors stand out. Blackbull Markets offers competitive spreads and a wide range of trading platforms, which is comparable to top brokers like IC Markets and Pepperstone.

However, its relatively high swap rates and lack of user reviews may be a drawback for some traders. The broker's regulatory licenses from the UK FCA, NZ FMA, and SC FSA provide a level of trust and security, similar to other well-regulated brokers.

While Blackbull Markets is relatively new, founded in 2014, it has quickly gained popularity, ranking 43 out of 1101 brokers based on expert ratings. This positions Blackbull Markets as a strong contender in the forex industry, especially for those seeking high leverage and a variety of trading platforms.

Trading Platforms - Mobile, Desktop, Automated

Blackbull Markets offers a variety of trading platforms suitable for different types of traders. MetaTrader 4 and MetaTrader 5 are popular choices, providing robust charting tools and automated trading capabilities through MQL4 and MQL5, respectively. cTrader is another powerful platform, known for its user-friendly interface and cAlgo programming for automation.

Blackbull CopyTrader and Blackbull Invest are tailored for social trading and investment management but do not support automated trading. TradingView is renowned for its advanced charting features and Pine Script for strategy automation.

Each platform caters to different needs, with varying levels of complexity in their programming languages for automated trading.

What Can you Trade?

Blackbull Markets offers a wide range of tradable instruments across various asset classes. These include over 200 forex pairs, 28 cryptocurrency CFDs, more than 7,000 stock CFDs, 52 stock index CFDs, and 31 commodities CFDs.

Additionally, the broker provides access to over 26,000 shares and ETFs (via the Blackbull Invest platform), offering extensive opportunities for diversification as well as 30+ Futures CFDs in Agriculture, Energy and Indices.

It's important to note that trading CFDs involves leverage, which can amplify both gains and losses. For more information on the specific instruments available, visit Blackbull Markets' website.

Available Leverage

Blackbull Markets offers varying leverage levels depending on the regulatory entity and instrument. Retail clients under the UK FCA regulation can access leverage up to 30:1, while clients under the NZ FMA and SC FSA regulations can enjoy higher leverage up to 500:1.

This flexibility allows traders to choose leverage levels that suit their trading strategies and risk tolerance. It's crucial to understand that while higher leverage can increase potential profits, it also raises the risk of significant losses.

Prohibited Countries

Blackbull Markets cannot open client accounts for residents of certain countries due to regulatory restrictions. These countries include the United States, Canada, Japan, and any other jurisdictions where such distribution or use would be contrary to local law or regulation. Prospective clients from these regions should consider alternative brokers that comply with their local regulations.

BlackBull Markets Account types

	Standard	Prime	Institutional
Commission	$0	$6 per lot	$4 per lot
Maximum leverage	500:1
Mobile Platform	cTrader Mobile, MT4 Mobile, MT5 Mobile, Proprietary, TradingView Mobile
Trading platform	cTrader, MT4, MT5, WebTrader, Proprietary, TradingView
Spread Type	Variable Spread
Minimum Deposit	0	2000	20000
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Standard
Commission	$0
Maximum leverage	500:1
Trading platform	cTraderMT4MT5WebTraderProprietaryTradingView
Mobile platform	cTrader MobileMT4 MobileMT5 MobileProprietaryTradingView Mobile
Spread type	Variable Spread
Minimum deposit	0
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Prime
Commission	$6 per lot
Maximum leverage	500:1
Trading platform	cTraderMT4MT5WebTraderProprietaryTradingView
Mobile platform	cTrader MobileMT4 MobileMT5 MobileProprietaryTradingView Mobile
Spread type	Variable Spread
Minimum deposit	2000
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Institutional
Commission	$4 per lot
Maximum leverage	500:1
Trading platform	cTraderMT4MT5WebTraderProprietaryTradingView
Mobile platform	cTrader MobileMT4 MobileMT5 MobileProprietaryTradingView Mobile
Spread type	Variable Spread
Minimum deposit	20000
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

BlackBull Markets Web traffic

Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.

BlackBull Markets Profile

Segregated Accounts

Islamic Accounts

Accepts Canadian clients

Negative balance protection

Social trading

Regulatory deposit insurance

Trailing stops

Variable spread