Both trading platforms are available on both Android and iOS mobile devices and tablets. Beginner traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced timeframes and fewer charting options. However, the MT4 and MT5 apps allow traders to work from anywhere, with functionality to close and modify existing orders and calculate profit/loss in real-time. It mirrors or mimics a live trading account but with fake or virtual cash. Additionally, the BlackBull Markets’ library of insightful educational content is readily available to help you navigate the complexities of the trading world.
How Do I Open A BlackBull Markets Demo Account?
While there is a small withdrawal fee and a high minimum deposit requirement for an ECN Prime account, overall, Black Bull Markets is an impressive Forex broker with which to trade. BlackBull Markets’ standard account average spreads, such as 1.20 pips for EUR/USD, are competitive and close to the industry norm, with only a 0.1 pip difference from the leading brokers. Their spreads across other major currency pairs like AUD/USD, EUR/GBP, GBP/USD, and USD/JPY also align with industry averages, offering traders fair and consistent trading costs without commission fees. The BlackBull Markets ECN Institutional account offers identical trading conditions to the ECN Prime account, but trading costs have a distinctive difference.
Customer Support
The BlackBull Markets leverage varies according to the product that you are trading. It is important to note that payment methods are subject to availability depending on the users’ country of residence. Overall, the customer support is responsive, polite, and knowledgeable.
Tools & Features
Myfxbook is an affiliate of BlackBull Markets, as such, the MetaTrader 4 trading program is completely integrated with the Myfxbook system. BlackBull Markets’ trading tools are slightly limited compared to what is offered at other similar brokers and most tools have an additional cost. Overall, BlackBull’s mobile trading support is about average when compared to other brokers, with no additional support or apps apart from the trading platform’s own mobile applications. However, BlackBull Markets does not support accounts denominated in INR, which means that Indian residents will have to pay conversion fees on all deposits and withdrawals. Conversion fees can make trading expensive, and affect profitability, especially since BlackBull charges a currency conversion fee of 2% on all deposits and withdrawals.
BlackBull Markets Review 2023 – The Good and the Bad
BlackBull Markets also only accepts New Zealand clients that fall under the ‘Wholesale Investor’ or ‘Eligible Investor’ definition as per New Zealand Financial Services Providers Act FSPA 2008.
Over 3,000 trading video tutorials are available, including those demonstrating how to use technical indicators, customize trading platforms and create templates. You can join upcoming webinars or watch past ones for additional trading insights. BlackBull Markets also offers a free demo account that mimics live trading conditions but with a demo balance between $5,000 and $100,000 to help traders build confidence before trading live markets. An even better account option for well-funded and expert high-volume traders is the ECN Institutional account.
This is great because you can stop trading for the time that you want, and you can be sure that no inactivity fee will be charged to you. Your account balance also must be at least $2,000 if you want to get the free VPS. If it falls under this value, the platform will start to automatically close your positions to keep the free margin above the threshold.
BlackBull Markets grants traders access to a broad spectrum of financial markets via CFD trading, enabling traders to explore diverse investment opportunities. Its 26,000+ tradable instruments, including currency pairs, major market indices, equities, cryptocurrencies and commodities, positions it among the top five CFD brokers. Brokers offer an Islamic Account only to Muslim traders who follow Sharia law.
In our assessment, they scored 10/15, balancing an easy onboarding experience with thorough identity and residence checks. BlackBull Markets has strong reviews on TrustPilot with a score of 4.1 out of 5. BlackBull Markets achieves rapid order execution through globally distributed servers, including xcritical reviews the NY4 Equinix data centre in New York and others in London, Japan, Hong Kong, and Shanghai.
BlackBull Markets is a Forex broker that gives you a wide range xcritical reviews of instruments to trade besides Forex. While writing this review I was surprised by the number of instruments. With over 26k tradable assets, you won’t have a hard time finding an instrument that matches your trading style. This broker is an ECN broker, meaning that it uses electronic systems to match buy and sell orders in financial markets. This results in tight spreads, fast executions, and more transparency.
- When we used BlackBull Markets stocks application, we were impressed with the one-stop shop to trade and manage your account whilst on the go.
- However, her interest in forex trading and her love for writing led her to switch careers.
- The MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4.
- While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content.
This includes MT4 videos, forex analysis guides, and a trading glossary. Withdrawals must be made using the same method that you originally deposited. Fees apply at 5.00 in the base account currency for credit/debit cards, Neteller, Skrill, and international bank wire transfers. When we used the BlackBull Markets platform, we were pleased with no account opening costs or inactivity fees for dormant profiles. This includes comprehensive price analysis, the use of algorithmic trading applications and copy trading.
It features spreads starting from 0.0 pips (ultra-raw spread), a $4 per lot commission and a $20,000 minimum account requirement. That is, a total trading cost of $4, which is low compared to the other accounts. Its simplicity, transparency, flexibility and efficiency make it the ideal copy trading tool for beginners and experienced traders committed to excelling in the market without hassles. The BlackBull Trade Platform is a revolutionary and versatile web and mobile trading application boasting comprehensive price analysis tools, expert advisors, copy trading features and more.
The table below summarizes the different investment products available to BlackBull Markets clients. BlackBull Markets is considered a safe broker with an overall trust score of 37. The broker is regulated by the Financial Markets Authority (FMA) in New Zealand and holds an offshore license issued by the Seychelles Financial Services Authority (FSA). BlackBull Markets trading experience is further enhanced by their use of Virtual Private Servers (VPS) in partnership with BeeksFX and BeekFX, reducing trading latency by up to 30%. This reduction is vital for strategies like scalping and automated trading, as it minimises slippage risks and ensures accurate trade execution.