BlackBull Markets is a New Zealand-based Forex broker and FinTech company. It prides itself on the speed and accuracy of its trading platform and implementation of ECN / NDD accounts with deep liquidity through the MT4 / MT5 trading platform. Therefore, our team conducted an in-depth review to determine if their advertised ECN, deep liquidity, and price consolidation, as well as organization-level pricing for some retail UAE Traders, were consistent with the promotion. BlackBull Market is also available in UAE, so read this BlackBull Markets Review UAE and start your trade.
BlackBull Markets Regulation and Security
Trade with a regulated broker will limit the likelihood of fraud and misconduct. However, I always advise UAE Forex Traders to check the regulation and the regulator by checking the licenses issued with their database. BlackBull Markets represents itself in the UAE with two well-regulated subsidiaries.
The primary regulator of the Black Bull market is the New Zealand Financial Markets Authority (FMA). It also maintains a subsidiary, BBG Limited, approved by the Seychelles Financial Services Authority (FSA). In addition, BlackBull Group UK Limited provides payment clearing services.
All UAE Trader deposits are separate from corporate funds, and Custodian Bank is ANZ Bank. BlackBull Markets is also a New Zealand Financial Services Complaints Limited (FSCL) Dispute Resolution Project member.
One of the things I found to be frustrating was the negative balance sheets. It turns out that BlackBull Markets does not offer this, so high leveraged trading with this broker creates a particularly high-risk approach. I searched their legal documents, but no one confirmed the existence of negative balance protection. However, I can strongly recommend this broker from a regulatory point of view. UAE Trader deposits are well protected from a security standpoint, but I cannot ignore the absence of negative balance protection, especially for leveraged trading accounts.
BlackBull Markets Review UAE – Fees
I like the spreads available on BlackBull Markets, which ensures organization-level pricing for retailers. A typical raw spread of only 0.1 pips during the NewYork/London overlap is competitive and an excellent offer from BlackBull. UAE Traders must deposit a minimum of $ 2,000 to access these spreads. In my opinion, this is reasonably a little more, but within an acceptable range. High-volume UAE Traders can discuss rebates with BlackBull Markets, and I appreciate this broker’s flexibility in that segment.
One of the most neglected trading costs is the leveraged overnight exchange rate. This could be the most significant fee per trade, depending on the trading strategy. Therefore, I always recommend checking their total trading costs before evaluating them. Check out all the leading Forex Brokers in UAE and compare them before you start doing business with any of them.
MT4/MT5 UAE Traders can easily access swap rates from their platform by following these steps:
- Right-click on the desired symbol in the BlackBull Market Watch window and select Specification.
- Scroll down until you watch Swap Long and Swap Short.
What Can I Trade with BlackBull Markets
Wealth selection in the Black Bull market must be said to be relatively narrow. The UAE Traders have access to 31 currency pairs, four commodity CFDs, and 12 index CFDs. It has made BlackBull Markets a good choice for UAE Traders who are only interested in trading certain assets (mainly Forex), such as Scalper. I would like to see that BlackBull Markets has expanded its asset selection.
BlackBull Markets Review UAE – Leverage
BlackBull Markets in UAE Provides maximum leverage of 1:500 for Forex Traders in the UAE, plus gold and silver, oil, and Indices remain capped at 1:100. In addition, the three-tier system exists, lowering it to 1:200 above 0.50 lots and 1:100 above one lot.
Forex trading is also available from (all times shown in UTC) Monday 00:00 to Friday 24:00. In addition, most of the commodities are from Monday through Friday from 01:00 to 24:00. For example, the European index CFDs are tradeable Monday to Friday between 09:00 to 23:00, while US ones are available between 01:00 to 23:15 and 23:30 to 24:00.
BlackBull Markets Review UAE – Account Types
I prefer the ECN Prime account at BlackBull Markets because it offers the best cost structure. The minimum deposit is $ 2,000 compared to $ 200 for an ECN Standard account, but the minimum trading cost is $ 7 vs. $ 8. I am a high-volume and high-frequency UAE Trader, so the $ 1 price difference makes thousands of dollars per year from the same trading method. The maximum leverage is 1: 500, but most UAE Traders get between 1:100 and 1:200, which is competitive. BlackBull Markets in the UAE also offers an Islamic account, an institutional one, and a special offer for an active UAE Traders Demo account
Sadly, BlackBull Markets restricts its demo account to just 30 days and is only available on the MT4 trading platform. Although trading conditions are not like life, BlackBull Markets should be given more than 30 days. Additionally, UAE Traders can choose a demo balance between $ 5,000 and $ 100,000.
BlackBull Markets Review UAE – Trading Platforms
BlackBull Markets offers UAE Traders the primary MT4 / MT5 trading platform but not third-party plug-ins. I find this disappointing because BlackBull Markets is a FinTech company and can do better, although it shouldn’t be a deal-breaker for most UAE Traders. MT4 is at the forefront of algorithmic trading, but both MT4 and MT5 support it. In addition, a copy-trading functionality is built on trading platforms. For example, BlackBull Markets offers MT4 as a desktop UAE Trader, web UAE Trader, and mobile app, but MT5 is only provided as a desktop UAE Trader.
I like that BlackBull Markets offers a fixed API, which allows algorithmic UAE Traders to connect with advanced trading solutions. Free VPS hosting from NYC Server or BeeksFX is available for ECN Prime account with a trading volume above 20 lots, which is a reasonable offer. In addition, BlackBull Markets supports social business through market leaders Zulutrade and MyFXBook AutoTrade. Ensuring its liquidity is the excellent liquidity service of institutional UAE Traders.
Bonuses and Promotions
While BlackBull Markets does not offer any bonuses, it maintains an Active UAE Trader Account. In addition, it presents qualifying UAE Traders with monetary incentives like lower commissions or services like free VPS hosting. Given the trading infrastructure and competitive trading costs, traders do not consider the absence of incentives for new retail UAE Traders as a negative factor.
Opening an Account
Opening an account at BlackBull Markets is pretty fast and follows the usual standards in the retail forex industry. I find some additional questions unnecessary, as UAE Traders can fill in as they wish, and there is no verification of the answers. BlackBull Markets includes account verification with an account opening form, which I like, as it is a requirement and saves UAE Traders extra steps from the back office. In addition, new UAE Traders must submit a copy of their identity card and proof of residency within the last three months.
BlackBull Markets UAE follows well-established industry practices for onboarding new UAE Traders.
Deposits and Withdrawals
I appreciate the flexibility in BlackBull Markets for deposits because, after the initial deposit, the follow-on amount is at the UAE Traders’ discretion. Another positive is that UAE Traders can deposit in nine currencies, but not all deposit methods support each of them. I wouldn’t say I like the $ 5 withdrawal fee, which most brokers don’t charge. On the other hand, BlackBull Markets processes all withdrawal requests within 24 hours, and Back Office handles all financial transactions from an easy-to-use interface.
BlackBull Markets allows UAE Traders to deposit any amount they wish following the initial minimum deposit.
The minimal deposit for the BlackBull Markets ECN Standard account is $200, the ECN Prime account is $2,000, and the Institutional one is $20,000. While they remain higher than at many competitive brokers, traders found them justifiable by cost and therefore acceptable.
BlackBull Markets Review UAE – Payment Methods
UAE Traders may deposit into their BlackBull Markets trading accounts via bank wires, credit/debit cards, Skrill, Neteller, China Union Pay, and FasaPay.
Research and Education
BlackBull Markets in the UAE offers interesting market commentary and an economic calendar but does not research. In light of the widespread availability of online research, I do not consider it a deal-breaker. Trainee UAE Traders have access to eleven videos and numerous short trading guides, which provide an in-depth introduction to trading. Although I would like more detailed content, BlackBull Markets presents enough information for beginners. A trading glossary is also available.
UAE Traders have access to 24/5 customer support via live chat, the most convenient form to connect with. A phone number and nine email addresses, including a toll-free one for New Zealand, are also listed, supporting the Chinese language. I appreciate the transparency in BlackBull Markets, as it provides complete contact information.
BlackBull Markets UAE answers some questions in its FAQ section and describes its products and services well. Therefore, most UAE Traders will not need assistance unless there is an emergency. However, BlackBull Markets ensures that a customer service representative is available in such cases.
BlackBull Markets Review UAE – Bottom Line
I like BlackBull Markets trading experience because of its competitive cost structure and excellent trade execution. BlackBull Markets UAE also supports API trading and offers VPS hosting, ideal for advanced algorithmic trading. Ideally, I would choose a wide asset selection and exclude the 5 withdrawal fees. The minimum deposit in the ECN Prime account is a little over $ 2,000 but acceptable. Overall, BlackBull Markets can become a more effective forex broker for advanced UAE Traders, as its core trading environment is outstanding.
Are BlackBull Markets regulated?
BlackBull Markets UAE has a regulatory license from the FMA in New Zealand and the FSA in Seychelles.
Where are BlackBull Markets based?
The headquarters of BlackBull Markets is in New Zealand.
How do BlackBull Markets make money?
BlackBull Markets makes money from commissions, spreads, and swap rates on leveraged overnight positions.
How do you open a live account with BlackBull Markets?
Clicking on the Live Account on the BlackBull Markets homepage opens a four-step online application process.