Pros & cons of BlackBull Markets broker

BlackBull Markets Fact sheet

The safety and security of your funds should be your top priority when dealing with any broker. To make sure that your account is safe, you need to find a regulated broker. BlackBull Markets is authorized and regulated by the Financial Services Authority of the Seychelles (FSA) under license number SD045, for the provision of investment services. In addition, the broker is registered in New Zealand. This means that the broker can be trusted, however, we should also mention that the regulator is not top-tier and the broker doesn’t have strict guidelines to follow. 

There are many types of traders in the market as there are different ways to make money. Some trade more actively, while others like to plan more and place less frequent orders. Active and passive traders have different requirements when it comes to trading fees. Active traders enjoy low spreads while passive traders prefer low commissions. 

Pros & cons of BlackBull Markets account types

BlackBull Markets offer access to Standard, Prime, and Institutional account types to meet the requirements of different trader types. Let’s discuss each account type in more detail.

ENC Standard account

The account type is perfect for beginner traders as there are no initial deposit requirements. Spreads on Euro vs USD start from as low as 0.8 pips and there are no commissions. The maximum available leverage is 500:1 and the minimum lot size is 0.01.

ECN Prime

This account type is best suited for day traders, scalpers, high-frequency traders, and algorithmic traders, with spreads starting from as low as 0.1 pips on the EUR/USD pair. On the other hand, there are commissions of 6 USD per traded lot. Leverage goes up to 500:1, but traders need to deposit at least 2,000 USD to be able to open this account type. 

ECN Institutional 

As the name suggests, the account type is made for institutional traders. The minimum initial deposit required to open the account is 20,000 USD. The maximum available leverage is 500:1. There are no spread markups, and commissions are 4 USD per traded lot. 

Clients of BlackBull Markets have access to a wide range of instruments, however, it should be mentioned that the maximum number of stocks are only available on the dedicated BlackBull trading platform. Traders have access to 70 currency pairs including major, minor, and exotic pairs. In addition, there are 10 crypto derivatives, 10 indices, and 18 commodities available for trading. 

Comparing BlackBull Markets fees with other brokers

BlackBull Markets offers average trading fees compared to the industry leaders. Let’s look at a comparison to better understand the difference.

BlackBull Markets fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

BlackBull Markets fees compared to CM Trading fees

BlackBull Markets fees compared to plus500 fees

BlackBull Markets fees compared to XM fees

BlackBull Markets fees compared to AvaTrade fees

BlackBull Markets fees compared to Capital.com fees

BlackBull Markets offers a wide selection of trading platforms. Traders can choose between MetaTrader 4, MetaTrader 5, TradingView, and BlackBull Trader. In addition, web-based trading platforms and mobile trading apps are also available. 

MetaTrader 4 (MT4) and 5 (MT5) are built by MetaQuotes and they are both highly reliable. MT4 was primarily built for trading currency pairs, while MT5 is a multi-asset platform. 

TradingView was made for charting and later transitioned into a charting and trading platform. The platform is very good and offers a user-friendly design for market analysis and price predictions easily. In addition, there are lots of modern trading indicators available on the platform. 

BlackBull Trader is a home-built trading software that offers not only desktop but web and mobile trading capabilities. The platform enables traders to trade over 26,000 tradable instruments. 

BlackBull Markets offers a wide range of educational materials and tools for analysis and market research. Beginner traders can learn how to use trading platforms and trade different asset classes such as Forex, indices, stocks, commodities, and cryptocurrencies. In addition, there are webinars and seminars for seasoned traders. Furthermore, traders get market reviews and economic calendars. 

The broker offers superb customer support available 24 hours a day 7 days a week. The customer service is available in 10 languages, including English, Portuguese, Chinese, Arabic, Indian, Korean, Vietnamese, Malaysian, Czech, and Hungarian. The agents are professional and friendly. Overall, the customer support with this broker is great. 

To sum everything up, BlackBull Markets is a well-established global multi-asset broker that offers access to trading CFDs on stocks, commodities, cryptocurrencies, Forex, and indices through various trading platforms. The available trading platforms are MetaTrader 4, MetaTrader 5, TradingView, and BlackBull Trader. The broker offers ECN Standard, ECN Prime, and ECN Institutional account types to meet the needs of different traders. Trading fees are average, educational content is extensive and customer support is great at this broker.