Other features we like are their competitive spreads for ECN trading (from 0.1 pips) with the ECN Prime account and a surprisingly large range of trading platforms and copy trading tools. 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. The absence of a BlackBull Markets minimum withdrawal offers traders the flexibility to manage their finances. BlackBull Markets aims to process each withdrawal request in less than 24 hours and supports six payment processors and nine currencies but lacks cryptocurrency support. The four e-wallets have instant processing times once BlackBull Markets honors a request. Credit/debit cards, which BlackBull Markets prioritizes over other methods, and bank wires can take between three and ten business days.
An even better account option for well-funded and expert high-volume traders is the ECN Institutional account. 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. Additionally, it requires a $2,000 minimum deposit and a $6 per lot commission. You may wonder, “What then makes this account popular?” To grasp this, you must understand how trading costs and pips work.
- These features are designed to optimize technical analysis during day trading.
- BlackBull Markets lives up to its hype as a well-established and globally renowned ECN broker.
- In May 2023, BlackBull Markets received an investment from Milford Asset Management, a prominent private equity firm in New Zealand, which included the appointment of an independent Chairman.
- BlackBull Markets offers trading platform demo accounts to allow traders to practice and familiarise themselves with the platforms before trading with real funds.
BlackBull Markets maintains strict compliance standards regarding client fund protection in line with these financial authorities’ regulatory requirements. BlackBull’s educational hub boasts libraries on forex, crypto, commodities and stocks neatly divided into Beginner, Intermediate and Advanced sections. This outstanding educational approach ensures that every trader, regardless of experience level, can learn and continually update their trading knowledge. 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.
The only condition is that you have enough funds and your copy-trading parameters allow it. This means that you can trade using micro lots, equivalent to 1,000 units of the base currency, which is the same as trading with a 0.01 lot size. BlackBull Markets accepts a wide range of methods either to deposit or to withdraw. Unfortunately, BlackBull Markets doesn’t offer a no-deposit bonus for new clients.
Does BlackBull Markets Charge a Fee to Withdraw Your Money?
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises xcritical companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). Forex commissions at BlackBull Markets are between $4.00 xcritical website and $6.00 per 1.0 standard round lot, dependent on the account type. BlackBull Market is a legit broker regulated in New Zealand, the UK, and Seychelles with an exceptional regulatory track record. The research also consists of technical analysis, but the entire package costs $45 monthly.
This places BlackBull Markets at the forefront in terms of execution speed compared to other brokers. Ideal for technical analysis enthusiasts, TradingView combines powerful charting with a social networking aspect, allowing traders to share and discuss trading ideas. Our broker reviews are reader supported and we may receive payment when you click on a partner site. There’s also no minimum deposit needed to start copy trading their signal providers.
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. Some of the payment methods may not be available, depending on your country. This ensures that your trades go directly to the market, and there’s no intervention or dealing desk manipulation.
BlackBull Markets process all withdrawal requests within 24 hours, and the back office handles all financial transactions from an easy-to-use interface. BlackBull Markets aims to complete each withdrawal request in less than 24 hours. The four e-wallets have instant processing times, credit/debit cards may take up to five business days, and bank wires up to ten, dependent on the geographic location of traders. Since there is no BlackBull Markets minimum withdrawal amount, the payment processors set the thresholds. They are usually as low as $1, while maximum daily and monthly limits may apply.
Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. For a detailed understanding of our methodology and the criteria we use in our broker evaluations, please visit Our Methodology page. BlackBull Markets has strong reviews on TrustPilot with a score of 4.1 out of 5. BlackBull Markets, established ten years ago in Auckland, New Zealand, is still expanding its international presence, evident from a monthly search volume of 8,100. Despite this, it is a leading broker in New Zealand that is highly regarded in the local market.
BlackBull Alternative Brokers
Generally, bank wires and credit/debit cards are the costliest choices and feature the slowest processing times. DailyForex.com adheres to strict xcriticals to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about.
BlackBull Markets Trading Platforms
Forex traders can avoid them by closing any open positions just before the rollover cut-off time, which is typically 5pm New York time. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. BlackBull Markets has no minimum deposit requirement for its ECN Standard account, $2,000 for ECN Prime, and $20,000 for ECN Institutional.
You still have the option to reverse your BlackBull Markets withdrawal provided that it has not yet begun. You can check the status of your BlackBull Markets withdrawal at any time by accessing the withdrawal history section of your BlackBull Markets account through the 2 factor login. If your BlackBull Markets withdrawal method or home country does not use the US Dollar as its primary currency, your BlackBull Markets withdrawal method will perform the currency conversion for you automatically. During the BlackBull Markets withdrawal process, BlackBull Markets will display BlackBull Markets various fees in their entirety. Before you actually take the money out of your BlackBull Markets account, there are a few things you need to take into consideration first. This is necessary both for safety and because the BlackBull Markets trading platform is legally required to verify the identity of their BlackBull Markets customers.
BlackBull Markets will ask you, within the withdrawal form, which alternative BlackBull Markets payment method you would prefer to use whenever you request a BlackBull Markets withdrawal. Your BlackBull Markets withdrawal method may also have daily limits of 10,000 to 50,000. Equity trading at BlackBull Markets, available in partnership with Interactive Brokers, may face a series of exchange and data fees, dependent on the equity exchange. Currency conversion fees are not fixed and depend on market conditions and the monetary policy of the involved currencies. Traders at BlackBull Markets get a notably lower pricing environment than that offered by full-commission brick-and-mortar brokers.
Traders who plan to use their BlackBull Markets withdrawal for follow-on transactions, like paying bills or buying consumables, should also check the fees from their payment processor to the destination. Traders get a choice of six payment processors at BlackBull Markets, but not all traders may have access to all of them, depending on their geographic location. The secure client portal, where traders make withdrawal requests, will list all xcritical supported methods. Bank wires are available to all traders, and while BlackBull Markets does not list withdrawal currencies, all the nine deposit currencies should be available to everyone.