Traded with a few companies over the years and these are the best. Market reviews – A section covering high-impact economic events, with expert commentary and videos from Blackbulls global market analysts. Overall, BlackBull Markets’ account-opening process is easy and hassle-free and are generally ready for trading within one business day. Tradingview has more timeframes than MT4 and MT5, more indicators, and uses a simple coding language called PineScript. Originally a charting package, it also comes with numerous customisable options. Please note that Tradingview is only accessible on a web browser.
For a comprehensive comparison of forex fees charged by various brokers, use BrokerChooser’s FX fee calculator. BlackBull allows traders to deposit any amount they wish following the initial minimum deposit. Beginner traders get fifteen videos, and numerous short Trading Guides, offering an in-depth introduction to trading.
BlackBull Markets Review: Conclusion
In such a case, BlackBull Markets ensures a customer service representative is available. 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. 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.
We compared scammed by limefx‘s fees with those of TMGM and Fusion Markets, two similar brokers selected by our analysts. This selection is based on objective factors such as products offered, client profile, fee structure, etc. We also drew up a more detailed rundown of BlackBull Markets alternatives. The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds.
Safety and Industry Recognition
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. https://limefx.vip/ 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. 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.
The minimum amount required to open up an account is $200 which will get you the ECN Standard account, if you want a commission-based account then you will need to deposit at least $2,000. Once an account has been opened the minimum deposit requirement is removed and there is no fixed limit for top-up deposits. Along with its advanced and competitive offering as we discover in our review, BlackBull also supports educational resources suitable for traders of different levels. Another important point within our Blackbull Markets Review is offered leverage levels.
While I prefer more content, BlackBull Markets presents enough information for beginners. 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 Markets seems to be a reputable and reliable brokerage that is definitely worth considering if you’re looking to trade forex and CFDs. The Institutional Account caters to professional traders and institutions, providing a truly elite trading environment.
Finally, we withdrew our funds to assess whether the withdrawal process was smooth. For this BlackBull Markets review, we opened a live account and deposited over €4,000. Moreover, you may access social trading through leading software including ZuluTrade and Myfxbook. As well you may see more spread examples below and compare fees to another popular broker Pepperstone or other competition shown on the table below. For the Negative points, there is no 24/7 support, and tools might be slightly limited, also conditions may vary based on entity. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
Then there is are some market reviews, these are looking at what has happened in the past and the last few days to try and give a reason for any movement that took place. If you are looking to actually learn how to trade you will need to look elsewhere. There are a number of different methods available to deposit with, these include Bank Wire Transfer, Visa, MasterCard, Skrill, Neteller, China Union Pay, and FasaPay. Fees are not mentioned on the site which leads us to believe that there aren’t any added fees for depositing, however, we cannot be 100% sure about this. At any rate, you should check with your own bank or processor to see if they add any fees of their own.
BlackBull Market Review – Final Thoughts
For Gold (XAU/USD), the 4-hour chart suggests a neutral-to-bearish stance. While the pair is currently above its moving averages, the 50-day moving average is closely trailing its price. The Relative Strength Index (RSI) is dropping towards a neutral level, indicating a potential pause in buyer activity.
- Blackbull offers three accounts, which is average for the industry, and they cater to both beginners and more experienced traders.
- I am fascinated by the high level of customer service provided by Caroline.
- MT4 and MT5 are well-known platforms in the forex industry, offering advanced charting capabilities, customizable indicators, and algorithmic trading options.
This can make it easier for traders to find an account that fits their needs and trading strategy. Since its inception, BlackBull Markets has focused on providing a high-quality trading experience to its clients. This includes offering a range of financial instruments for trading, as well as a variety of trading platforms and account types. The broker’s educational resources and customer service are also noteworthy.
I want to trade options, are they available at BlackBull Markets?
The maximum trade size is unknown but we would recommend not trading over 50 lots in a single trade due to execution and slippage issues with larger trades. It is also not known to us what the maximum number of open trades at any one time is. Based on our finding BlackBull does not offer wide range of Crypto trading so far, there are some CFDs but range is not wide, if you wish to trade Cryptocurrencies follow our link to see other brokers. Overall, although the FSA’s regulatory oversight is weak compared to other brokers, BlackBull Markets is regulated by top-tier regulator, the FMA, and has a track record of responsible behaviour. Additionally, UK traders can request to be registered under the FMA-regulated entity.
Forex Lot Size: How to Limit Risk in Forex More Easily
The same methods are available to withdraw with, for clarification these are Bank Wire Transfer, Visa, MasterCard, Skrill, Neteller, China Union Pay, and FasaPay. When using Credit or Debit card, you are only able to withdraw the same amount that you have deposited, any extra will need to use another available method. There is an added fee of 20 base currency for withdrawing with Bank Wire Transfer and a fee of 5 base currency for withdrawals using any other method. You should also check with your own bank or processor for any potential fees added by them.
BlackBull offers a range of mobile trading platforms, including BlackBull Shares, BlackBull Trade, and MetaTrader 4 and 5. As you can see from the table above, the Standard Account has trading fees included in the spread, which start at 0.8 pip (EUR/USD), which is low for an account with no minimum deposit requirement. Trading costs improve on the Prime and Institutional Accounts, which have spreads that start at 0,1 pips and 0,0 pips (EUR/USD) and have commissions of 6 USD and 4 USD, respectively. BlackBull Markets trading fees are affordable, even though the trading costs differ based on the account type and the instrument. The broker does not charge non-trading fees and commissions for accounts with the ECN Standard Profile and spreads starting at 0.8 percent. Customers who use an ECN Prime account will incur lower spreads beginning at 0.1 pip and commissions starting at US$6 for each lot.
BlackBull Markets charges other non-trading fees, including deposit and withdrawal fees. If you are on the fence, they offer a free demo account to test the MT4 trading platform and conditions of the account, so please do feel free to sign up and try it for yourself. Compared to a lot of the top end brokers out there in the last few years, the support offered at this broker is absolutely brilliant.