Blackbull (Formerly blackbullmarkets) is a New Zealand-based online brokerage firm that offers trading services for Forex and CFD traders. The firm was established in 2014 and has since gained a reputation for providing quality trading services to its clients. In this in-depth review, we will take a closer look at the key features of Blackbullmarkets and evaluate its strengths and weaknesses.
Regulation and Safety
The safety of funds is a primary concern for traders, and Blackbull has taken measures to ensure that its clients’ funds are safe. The firm is regulated by the Financial Markets Authority (FMA) in New Zealand and holds clients’ funds in segregated accounts with reputable banks. Additionally, the firm offers negative balance protection, which ensures that clients’ accounts cannot go below zero.
Trading Platforms
Blackbull offers two trading platforms, the popular MetaTrader 4 (MT4), and its successor, MetaTrader 5 (MT5). Both platforms are available for desktop, mobile, and web use, and offer a range of advanced trading tools and features. Traders can access a wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies. The platforms also offer several order types, including market, limit, stop-loss, and take-profit orders, and support automated trading through Expert Advisors (EAs).
Account Types of Blackbull
Blackbull offers four account types, namely, Standard, Prime, Institutional, and Islamic. The Standard account requires a minimum deposit of $200, while the other accounts require a higher deposit. The accounts differ in terms of spreads, commissions, leverage, and other trading conditions. The Islamic account is designed for traders who adhere to Sharia law and offers swap-free trading.
Customer Service of Blackbull
Blackbull offers excellent customer service, with a team of dedicated professionals available 24/5 to assist clients. Traders can reach the support team through live chat, phone, or email, and the firm’s website also has an extensive FAQ section that answers many common questions.
Education and Research of Blackbull
Blackbull offers a range of educational resources for its clients, including webinars, video tutorials, and trading guides. The firm also provides daily market analysis and economic calendars to help traders stay informed about market news and events.
Pros
- Regulated by the FMA in New Zealand, ensuring safety of funds.
- Wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies.
- Two advanced trading platforms, MT4 and MT5, available for desktop, mobile, and web use.
- Excellent customer service, with dedicated professionals available 24/5.
- Islamic account available for traders who adhere to Sharia law.
Cons
- Limited range of account types compared to some other brokers.
- No social trading or copy trading features.
Conclusion
In conclusion, Blackbullmarkets is a reliable and trustworthy broker that offers quality trading services for Forex and CFD traders. The firm’s regulation by the FMA in New Zealand, safety of funds measures, and excellent customer service make it a good choice for traders. Additionally, the advanced trading platforms, wide range of trading instruments, and educational resources make Blackbullmarkets a competitive option in the online brokerage space. However, the limited range of account types and lack of social trading or copy trading features may be a drawback for some traders. Overall, Blackbullmarkets is a recommended broker for traders looking for a reliable and quality trading experience.
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