BlackBull Markets review
BlackBull Markets is an ECN forex and CFD broker founded in 2014 in Auckland, New Zealand, by Michael Walker and Selwyn Loekman. Its core regulation is New Zealand's FMA, a Tier-1 regulator, with a second entity regulated by Seychelles' FSA covering clients outside FMA-eligible markets, a materially lighter regime. The broker positions itself on execution and range rather than a single flagship feature: pricing runs through LMAX's institutional ECN liquidity with average execution under 100ms, and the instrument list runs to more than 26,000 symbols across forex, commodities, equities, indices and crypto CFDs, offered through MetaTrader 4, MetaTrader 5, cTrader and TradingView. New Zealand asset manager Milford Asset Management holds a minority stake.
BlackBull Markets key facts
- Website: www.blackbull.com
- Category: ECN forex and CFD broker
- Founded: 2014
- Headquarters: Auckland, New Zealand
- Regulation: FMA (New Zealand, Tier-1); FSA (Seychelles, Tier-4, second entity)
- Platforms: MetaTrader 4, MetaTrader 5, cTrader, TradingView, BlackBull Invest
- Minimum deposit: $0 on ECN Standard and ECN Prime; $20,000 on ECN Institutional
- Leverage: Up to 1:500
- Markets: 26,000+ symbols: forex, commodities, equities, indices, crypto CFDs
- CEO: Michael Walker
- FYI Score: 88.2/100 (ranked #60 of the CFD brokers we track)
Regulation & licences
- Primary entity is regulated by New Zealand's Financial Markets Authority (FMA), a Tier-1 regulator.
- A second entity is regulated by the Seychelles Financial Services Authority (FSA), a considerably lighter regime used for clients outside FMA-eligible markets.
- Third-party reviewers note BlackBull's regulatory license count is minimal relative to the largest industry players, with no FCA or ASIC entity.
- New Zealand asset manager Milford Asset Management (NZ$34bn+ AUM) holds a minority stake in the group.
Spreads & fees
- ECN Standard account: no minimum deposit, EUR/USD spreads averaging around 1.16 pips, commission-free.
- ECN Prime account: no minimum deposit, spreads averaging around 0.16 pips plus a $6 per-lot round-turn commission (all-in cost around 0.76 pips).
- ECN Institutional account: $20,000 minimum deposit, the lowest available spreads.
- Pricing is built on LMAX's institutional ECN liquidity, with average execution speed cited under 100ms.
Platforms & tools
- Full support for MetaTrader 4, MetaTrader 5, cTrader and TradingView, a broader platform range than most competitors offering only MT4/5.
- BlackBull CopyTrader plus third-party copy-trading integrations including ZuluTrade and Myfxbook.
- BlackBull Invest, a separate proprietary platform for share trading.
- No dedicated proprietary mobile app, per third-party review; mobile access runs through the supported third-party platforms' own apps.
Markets & instruments
- 26,000+ tradeable symbols in total, an unusually wide range for a broker of this size.
- 70-72 forex pairs, plus commodities and metals.
- Equities and indices across major global markets.
- 40 cryptocurrency CFDs, offered as CFDs rather than spot ownership.
Account types
- ECN Standard: no minimum deposit, spread-based pricing.
- ECN Prime: no minimum deposit, raw spreads plus commission.
- ECN Institutional: $20,000 minimum deposit, tightest available pricing.
- All account tiers offer leverage up to 1:500 and swap-free options.
Markets
[object Object], [object Object], [object Object], [object Object], [object Object], [object Object]
Platforms
MetaTrader 4, MetaTrader 5, cTrader, TradingView, BlackBull CopyTrader
Who BlackBull Markets is for
BlackBull suits traders who want platform choice (MT4, MT5, cTrader, TradingView) and tight ECN pricing with no minimum deposit, more than traders prioritising Tier-1 multi-jurisdiction regulatory coverage or a polished proprietary mobile app.
Pros
- Unusually broad platform support: full MetaTrader 4/5, cTrader and TradingView, rather than a single locked-in platform.
- Very wide instrument range at 26,000+ tradeable symbols.
- Institutional-grade ECN liquidity via LMAX, with sub-100ms average execution cited by the broker and independent reviewers.
- No minimum deposit on the ECN Standard and ECN Prime account tiers.
Cons
- Regulatory footprint is limited to New Zealand's FMA and Seychelles' FSA, with no FCA or ASIC entity, a genuine gap versus Tier-1 multi-jurisdiction competitors.
- No dedicated proprietary mobile trading app.
- Educational resources are described as limited relative to larger competitors.
- The Seychelles entity used for clients outside FMA-eligible markets carries materially lighter oversight than the New Zealand entity.
BlackBull Markets FAQ
Is BlackBull Markets regulated?
Its primary entity is regulated by New Zealand's Financial Markets Authority (FMA), a Tier-1 regulator. A second entity is regulated by the Seychelles Financial Services Authority (FSA) for clients outside FMA-eligible markets, a considerably lighter regime. It does not hold an FCA or ASIC licence.
What trading platforms does BlackBull support?
MetaTrader 4, MetaTrader 5, cTrader and TradingView are all fully supported, plus BlackBull CopyTrader for copy trading and BlackBull Invest for share trading. There is no dedicated proprietary mobile app.
What is the minimum deposit at BlackBull Markets?
$0 on the ECN Standard and ECN Prime accounts. The ECN Institutional account, which offers the tightest spreads, requires a $20,000 minimum deposit.
Who founded BlackBull Markets?
Michael Walker and Selwyn Loekman founded the company in Auckland, New Zealand, in 2014. New Zealand asset manager Milford Asset Management later acquired a minority stake.
Compare BlackBull Markets with other CFD brokers
See all CFD brokers ranked by FYI →
Home · CFD Brokers · Brokers · Crypto · Prop firms · Prediction markets · Media · Influencers · Solutions