Blackbull Markets Review Updated year : Pros & Cons Revealed
Withdrawals above the deposit amount using payment processors are not possible. BlackBull Markets follows well-established industry practices for onboarding new traders. Traders have access to customer support 24/7 via live chat, which I find the most convenient form to connect. A phone number, including a toll-free for New Zealand, and nine e-mail addresses are also listed, one with support in Chinese.
Is BlackBull Markets safe?
It is a wonderful choice for traders that demand superior market access and tools. Since BlackBull Markets is a FinTech company, I would like to see a proprietary solution. MT4 remains the leader in algorithmic trading, but MT4 and MT5 support it, and both have a built-in copy-trading system.
From a technical perspective, this long wick might look to some traders to be the start of a small reversal before its eventual sojourn lower. Rom a fundamental lexatrade perspective, US Consumer Price Index (CPI) came in a few hours ago lower than… BlackBull Markets offers cryptocurrency CFDs, but not physical cryptocurrency trading. BlackBull Markets accepts deposits by bank wires, credit/debit cards, Skrill, Neteller, Union Pay, FasaPay, and selected cryptocurrencies.
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Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.
The minimum deposit for the ECN Prime account of $2,000 is a bit high but remains acceptable. Overall, the core trading environment is outstanding, and I rank BlackBull Markets as a leading choice for demanding equity traders, asset managers, and Forex traders. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate axitrader review the reviews and information we provide on all the top Forex / CFD brokerages featured here.
The primary regulator of BlackBull Markets is the New Zealand Financial Markets Authority (FMA). It also maintains a subsidiary, BBG Limited, authorized by the Seychelles Financial Services Authority (FSA). Historically, the dollar has shown a tendency to weaken, at least briefly, following… Traders can request withdrawals from the secure back office of BlackBull Markets in a straightforward process, usually completed within 24 hours except for bank wires. I checked the official Seychelles FSA website, which confirms the regulatory status of BBG Limited. Read our full explanation and accounting of our research and testing process to learn more about how we test.
BofA also foresees a modest downside risk for the EUR, driven by a potential dovish shift in the ECB’s forward guidance. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based BlackBull Markets trading account. All client deposits remain segregated from corporate funds, and the custodian bank is the ANZ Bank. BlackBull Markets is also a member of the New Zealand Financial Services Complaints Limited (FSCL) dispute resolution scheme. BlackBull supports a variety of funding methods, including bank wires, Neteller, and credit cards, providing flexibility for deposit and withdrawal options. The Japanese yen has tested prices below 141, an eight-month low for the pair.
Where is BlackBull Markets based?
Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. BlackBull is a broker considered to be of “Average Risk” with a trust score of 78 based on rankings from ForexBrokers.com, providing a relatively secure trading environment.
- Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
- Given the excellent trading infrastructure and competitive trading costs, I do not consider the absence of incentives for new retail traders as a negative factor.
- New traders must submit a copy of their ID and a proof of residency document dated within the past three months.
- A typical raw spread of only 0.1 pips during the London/New York overlap is very competitive and an excellent offer from BlackBull.
I appreciate the flexibility at BlackBull Markets for deposits, as after the initial deposit, follow-on amounts remain at the discretion of traders. Another positive is that traders may deposit in nine currencies, but not all deposit methods support each of them. BlackBull Markets process all withdrawal requests within 24 hours, and the back office handles all financial transactions from an easy-to-use interface. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
BlackBull Markets makes money from spreads, commissions, and swap rates on leveraged overnight positions. BlackBull allows traders to deposit any amount they wish following the initial minimum deposit. BlackBull Markets answers some questions in its FAQ section and describes its products and services well. Therefore, I believe that most traders will not require assistance unless there is an emergency. In such a case, BlackBull Markets ensures a customer service representative is available.
How do I open an account with BlackBull Markets?
Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Here is a screenshot of the BlackBull Markets MT4 trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. Futures markets are pricing in a US rate cut for September, with a 62% chance of a 25-basis point cut and a 38% chance of 50-basis points. The Fed’s dovish shift has helped the euro surge to its highest level in more than a year. Bank of America (BofA) is in line with market expectations, predicting that the European Central Bank (ECB) will announce a 25-basis point rate cut in its decision this week.
This week’s inflation data could be decisive for traders as markets weigh whether the Fed will cut rates by 25 or 50 basis points. The US economy added 142,000 jobs in August 2024, falling short of the expected 160,000, based on the latest NFP data. Opening an account at BlackBull Markets is acceptably quick and follows the normal standard in the retail Forex industry. I found some of the additional questions unnecessary, as traders can fill them out as they wish, and there is no verification of the answers.
BlackBull Markets includes the account verification with the account opening form, which I like, as it is a requirement and saves traders the extra step from the back office. New traders must submit a copy of their ID and a proof of residency document dated within the past three months. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
BlackBull Markets offers MT4/MT5 as a desktop client, webtrader, and mobile app. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. BlackBull is well-equipped with advanced trading platforms, offering multiple third-party platforms, which are highly recommended for traders who need robust technical analysis tools and customizable trading environments. BlackBull Markets is a New Zealand-headquartered Forex broker and FinTech company. It prides itself on speed and precision, promising traders ECN/NDD execution with deep liquidity through the MT4/MT5 trading platforms.