- Minimum Deposit: Starts from $50
- Trust Score: 74
- Tradeable Symbols (Total) : 23000
OVERVIEW OF BLACKBULL MARKET
Blackbull is an average MetaTrader broker with a lackluster range of products that do not inspire much confidence in the forex market. Blackbull has tried to salvage the situation by offering a few third-party social copy trading platforms, but what has done it in is its below-par educational material and tardy research materials. It is a fledgling forex broker with no capacity to compete with the best forex brokers in the forex market.
Risk is another factor that makes Blackbull look like a below-average choice for forex traders. Its score stands at 74 out of 99 on the overall Trust score. Blackbull is neither publicly traded nor does it operate any bank. It is authorized by just one tier-1 regulator, considered highly credible, and zero tier-2 or tier-3 regulators. The only tier-1 regulator that regulates Blackbull is Financial Markets Authority (FMA).
BLACKBULL REVIEW
After launching its share trading app recently, Blackbull has begun offering over 23,000 tradable symbols. Cryptocurrency trading is also available at Blackbull markets through CFDs. But cryptocurrency trading at Blackbull is not available through trading the underlying assets. Another point to be noted is that Crypto CFDs are not made available to retail traders from the broker’s any U.K. entity, or to U.K. residents.
Blackbull Market’s trading costs are at par with the industry and vary depending on the types of accounts you choose.
There are three types of accounts at Blackbull Markets.
- Standard account. The standard account charges no commission and is operational at just a $50 deposit.
- The ECN Prime account is the second type of account available at Blackbull markets. Though it offers lower spreads, it requires a minimum deposit of $2,000.
- The last type of account available at Blackbull Markets is the ECN Institutional account. This account is exclusively for active traders who deposit a minimum of $20,000.
Blackbull Markets is far behind industry leaders in user-friendly web platforms and mobile apps. Educational content and research material are not of excellent quality.
OUR ASSESMENT ON BLACKBULL
Blackbull Market trails behind the industry leaders by a country mile. Be it safety or spreads, Blackbull Market doesn’t have much to offer to its clients. Its educational material is, at best, superficial and has no coherence. Traders will struggle to keep themselves well informed if they depend solely on Blackbull’s educational material. Research is the sole of any forex broker’s market expansion plan. And here also we see the same problem: research materials, it feels, are put together to tick a box, and nothing of consequence is offered. Research keeps clients knowledgeable about the market. But research material produced and published by Blackbull is of low quality and can’t be trusted.
Blackbull Market’s overall trust score stands at just 74 out of 99, a matter of grave concern. What aggravates the problem is that it is regulated by just one Seychelles-based tier-1 regulatory authority. Another issue with Blackbull Market is it can’t function in highly competitive markets like that of the USA or the E.U. because of a lack of authorization from top-notch regulatory bodies from these countries. A limited number of symbols on offer at Blackbull doesn’t help its case either. Even the products on offer are not of great range or quality. Overall, Blackbull Market doesn’t inspire much confidence among traders and comes across as slow-to-learn, another run-of-the-mill online forex broker with no concern for traders’ needs and demands.
Table of Contents
BLACKBULL REVIEW
Summary
Blackbull Market’s overall trust score stands at just 74 out of 99, a matter of grave concern. What aggravates the problem is that it is regulated by just one Seychelles-based tier-1 regulatory authority. Another issue with Blackbull Market is it can’t function in highly competitive markets like that of the USA or the E.U. because of a lack of authorization from top-notch regulatory bodies from these countries. A limited number of symbols on offer at Blackbull doesn’t help its case either. Even the products on offer are not of great range or quality. Overall, Blackbull Market doesn’t inspire much confidence among traders and comes across as slow-to-learn, another run-of-the-mill online forex broker with no concern for traders’ needs and demands.
Pros
(1) Trading at Blackbull Market is available to residents of New Zealand. Many brokers don’t have the prerequisite FMA license to cater to the trading needs of New Zealanders.
(2) Full MetaTrader suite is available at Blackbull.
(3) Multiple third-party copy trading platform is available.
Cons
(1) Blackbull doesn’t have enough tier-1 regulatory licenses from different parts of the world and hence can’t operate in markets like the USA and the E.U.
(2) Blackbull broker is regulated by just one tier-1 regulatory body based in Seychelles. The protection offered by Blackbull is very flimsy.
(3) Superficial educational content and shallow research material can’t compete with the best in the industry
