BlackBull Markets review 2026
BlackBull Markets is a New Zealand broker offering ECN-style accounts on all the major third-party platforms. International clients are served from Seychelles.
Dossier Score for Global
Overall rating in progress: 30% of criteria assessed
Our assessment
Strengths
- Licensed derivatives issuer in New Zealand
- MT4, MT5, cTrader and TradingView
- No minimum deposit on the entry account
Weaknesses
- No tier 1 licence in the group
- Most clients are served by its Seychelles entity
- Founded in 2014
Best for Traders who want ECN pricing with a wide choice of platforms.
How this Dossier Score adds up
The score is calculated by a published formula from the five components below. It changes with your country, because the first component follows the company that would hold your account.
Methodology v1.1. How the Dossier Score is calculated. Commissions are not an input.
Regulation and legal entities
A broker brand is usually several companies. The one you open an account with decides your leverage limit, whether you have negative balance protection, and which compensation scheme, if any, covers you.
| Legal entity | Regulator | Licence no. | Max. leverage | Our check |
|---|---|---|---|---|
| Black Bull Group Limited Serves you New Zealand | FMA Tier 2 | FSP403326 | Varies | Not yet verified by us Open register |
| BBG Limited Serves you Seychelles | FSA Seychelles Tier 3 (offshore) | SD045 | Varies | Not yet verified by us Open register |
Key facts
- Founded
- 2014
- Headquarters
- New Zealand
- Publicly listed
- No
- Group regulators
- FMA, FSA Seychelles
- Minimum deposit
- $0
- Platforms
- MetaTrader 4, MetaTrader 5, cTrader, TradingView
- Execution
- ECN
- Copy trading
- Yes
- Islamic account
- Yes
- Demo account
- Yes
Accounts and fees
| Account | Pricing | EUR/USD spread from (advertised) | Commission per lot, round turn | Min. deposit |
|---|---|---|---|---|
| ECN Standard | Spread only | 0.8 pips | — | $0 |
| ECN Prime | Raw spread + commission | 0.1 pips | $6.00 | $2,000 |
Figures in this table are the broker's own advertised conditions, not our measurements. Advertised “from” spreads are best-case values.
Spreads we measured
We have not measured live spreads for this broker yet. Until we do, cost does not count towards its rating.
Platforms and execution
BlackBull Markets offers MetaTrader 4, MetaTrader 5, cTrader, TradingView. Execution model as described by the broker: ECN.
Deposits and withdrawals
We have not run our own deposit and withdrawal test with this broker yet. When we do, the log appears here with dates and times.
Country availability
Pick your country in the header to see which BlackBull Markets entity would serve you.
Not accepted, according to the broker: United States.
Questions readers ask
Is BlackBull Markets regulated?
BlackBull Markets operates through 2 legal entities in our database, holding licences or registrations with: FMA, FSA Seychelles. Which entity you sign up with depends on where you live, and so does the protection you get. Check the licence number on the regulator's own register before you deposit.
What is the minimum deposit at BlackBull Markets?
BlackBull Markets advertises a minimum first deposit of $0 on its entry-level account. The amount can differ by entity, account type and payment method.
Which trading platforms does BlackBull Markets offer?
BlackBull Markets offers: MetaTrader 4, MetaTrader 5, cTrader, TradingView. Platform availability can vary between its entities.
Is BlackBull Markets a safe broker?
No broker is risk-free. Our Global Dossier Score for BlackBull Markets is 28 out of 100. The score reflects the regulator tier of the entity that serves you, the group's other licences, company structure and track record. It says nothing about whether trading will be profitable for you.
CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail accounts lose money when trading CFDs. Consider whether you understand how these products work and whether you can afford the high risk of losing your money.
Alternatives that share a regulator
| Broker | Dossier Score | Entity serving you | Min. deposit | Platforms | Actions |
|---|---|---|---|---|---|
| CMC Markets Founded 1989 Listed | 91 | CMC Markets UK plc FCA #173730 Tier 1 | $0 | Own platformMT4TradingView | Review Visit siteAffiliate link |
| Plus500 Founded 2008 Listed | 62 | Plus500SEY Ltd FSA Seychelles #SD039 Tier 3 (offshore) | $100 | Own platform | Review Visit siteAffiliate link |
| eToro Founded 2007 Listed | 56 | eToro (Seychelles) Ltd FSA Seychelles #SD076 Tier 3 (offshore) | $50 | Own platform | Review Visit siteAffiliate link |
Dossier Score, entity and regulator are shown for the company that would serve your country. Buttons marked “Affiliate link” may earn us a commission. Unmarked buttons go to the broker's own site and earn us nothing.