You’re looking for a broker to trade global financial markets and have come across BlackBull Markets. Before diving in and risking your hard-earned cash, you want to know if BlackBull Markets is legit and the right choice for you.
This in-depth review covers everything you need to know about BlackBull Markets so you can make an informed decision. So, don’t wait anymore. Let’s dig into this article.
An Overview of BlackBull Markets
BlackBull Markets is an award-winning forex and CFD broker that’s been operating since 2014. Regulated in New Zealand, they offer competitive spreads and over 50 currency pairs to trade.
BlackBull Markets is licensed and regulated by the Financial Markets Authority (FMA) in New Zealand. This means your funds and information are protected. They use industry-standard SSL encryption and two-factor authentication for an added layer of security.
On BlackBull Markets’ platform, you can trade over 50 major, minor, and exotic currency pairs with spreads as low as 0.0 pips. They also offer CFDs on indices, commodities, and shares. The minimum deposit to open an account is only $200. You can fund your account via credit/debit card, bank wire, or e-wallets like Skrill. Withdrawals are processed within 1 business day.
Regulation and Security of BlackBull Markets
BlackBull Markets is regulated by top-tier authorities like the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). This means your funds and information are in safe hands.
It utilizes industry-standard security protocols to protect clients. Things like data encryption, firewalls, and two-factor authentication are used to guard your account and keep it confidential. You can also enable additional security options like IP whitelisting or trade notifications through SMS or email.
When it comes to what you can trade, BlackBull Markets offers over 300+ assets across forex, commodities, indices, and shares. Whether you want to trade major, minor, or exotic currency pairs, soft commodities like coffee or sugar, or tech stocks, BlackBull Markets has everything for you.
What you Can Trade on BlackBull Markets?
BlackBull Markets offers over 300 tradable assets across forex, commodities, indices, and shares. As a trader, you’ll have access to:
- Major, minor, and exotic currency pairs. Trade the largest forex pairs like EUR/USD and GBP/USD, or explore smaller markets such as USD/TRY or NZD/SGD.
- Popular commodities such as gold, silver, oil, and natural gas. Speculate on price movements of raw materials and resources.
- Leading stock market indices from the US, Europe, Australia and Asia. Gain exposure to the overall performance of equity markets without picking individual stocks.
- Over 60 US shares including tech giants like Apple, Amazon, and Tesla, as well as major companies across other sectors.
- Cryptocurrencies Bitcoin, Ethereum, Litecoin, and Ripple. Trade the volatile crypto market with tight spreads and leverage up to 2:1.
BlackBull Markets ensures all trading conditions are transparent and clearly outlined on their website and platforms. You’ll know the typical spread, margin requirements, leverage, and trading hours for each instrument before you place a trade. Their selection covers the diversity of tradable assets so you can easily diversify your portfolio and take advantage of opportunities across global markets.
Fees of BlackBull Markets
When it comes to fees, BlackBull Markets keeps things simple and straightforward for traders. They charge no commissions on trades and have low minimum deposits to get started.
Minimum Deposit
To open a BlackBull Markets account, you only need to deposit $200. This is lower than the industry average and allows new traders to get started with a small initial investment. Once your account is funded, you’ll have access to over 200 trading instruments to choose from.
Payment Methods
BlackBull Markets accepts several popular payment methods for deposits and withdrawals, including:
- Bank wire transfers
- Credit/debit cards (Visa, Mastercard)
- Skrill
- Neteller
- PayPal
Using e-wallets like Skrill and Neteller allows for quicker processing times, usually within 1 business day. Bank wires and credit cards can take 3 to 5 business days to process.
Withdrawals
Withdrawals from BlackBull Markets are also straightforward. The minimum withdrawal amount is $50. Withdrawal requests are processed within 1 to 3 business days, depending on your selected payment method. There are no additional withdrawal fees charged by BlackBull Markets, however, payment providers like banks or e-wallets may charge their own small fees.
BlackBull Markets Customer Support
BlackBull Markets provides customer support 24 hours a day, 5 days a week via live chat, email, and phone. Their support team is very responsive and helpful.
Live Chat
The live chat feature on the BlackBull Markets website and trading platforms allows you to instantly connect with a support agent. You’ll typically get a response within 30 seconds. The agents are knowledgeable and friendly, able to answer questions about deposits and withdrawals, technical issues, trading questions, and more.
Email Support
If you have a more complex issue or question, email support is available. Send a message to support@blackbullmarkets.com and you’ll receive a personalized response within 24 hours. The support team provides detailed answers and solutions via email. They are also able to escalate technical issues to the development team if needed.
Telephone Support
For urgent issues, you can contact BlackBull Markets support by phone at +643 970 6611. Phone support is available 24 hours a day, 5 days a week. Speaking with an agent over the phone allows you to get immediate assistance and quick resolution of critical account or technical issues.
The high-quality customer service is one of the reasons BlackBull Markets is a reputable and trusted broker. They aim to provide the best support experience in the industry. The support team is very knowledgeable about the broker’s services and trading in general. They work hard to resolve issues and answer questions as efficiently and accurately as possible.
Is BlackBull Markets Legit or Scam?
Is BlackBull Markets legit or a scam? This is an important question for any trader considering opening an account. Based on reviews from actual traders as well as investigating their regulation and security measures, BlackBull Markets appears to be a legitimate broker.
BlackBull Markets is regulated by the Australian Securities and Investments Commission (ASIC), which helps ensure they follow strict financial standards and properly safeguard client funds. They are also a member of the Financial Services Complaints Ltd., an independent dispute resolution body. These oversight and protections provide peace of mind that your money and information will be handled responsibly.
It takes security seriously and uses industry-standard encryptions and protections. They keep client funds in segregated accounts at top-tier banks. Two-factor authentication, email confirmations, and login notifications provide account security. They also offer negative balance protection ensuring you cannot lose more than your initial deposit.
Pros and Cons of BlackBull Markets
Pros
- Low fees: BlackBull Markets has very competitive spreads and commissions. The minimum deposit is only $50 to get started. They also frequently run promotions offering bonus deposits, cash rebates, and fee waivers.
- Wide range of assets: You can trade over 200 assets including forex, commodities, stocks, indices, and cryptocurrencies. Whatever markets you want to trade, BlackBull likely has it.
- Superior trading platforms: BlackBull provides the popular MT4 and MT5 trading platforms with advanced charting tools, indicators, and automated trading options. The platforms can be accessed via desktop, web, and mobile apps.
- Fast withdrawals: Withdrawal requests are typically processed within 1 business day. BlackBull offers several payment methods for quick withdrawals like wire transfers, credit/debit cards, and e-wallets.
Cons:
- Higher spreads for some assets: Although BlackBull’s spreads are generally low, they can be higher for some exotic currency pairs and commodities. It depends on the specific market conditions.
- Limited regulation: BlackBull Markets is regulated in New Zealand but not in other major markets like the UK, Australia, or Europe. Some traders may prefer a broker with wider regulation.
Final Thought
BlackBull Markets offers a solid trading platform with competitive fees and a good range of assets. Their regulation and security measures should give you peace of mind. The next step is up to you – are you ready to dive in and start trading?
Open a free demo account and take it for a spin. See how their platform works and find your footing before putting real money on the line. If after trying the demo you decide BlackBull Markets is the right broker for you, opening a live funded account is quick and easy.
