BlackBull Broker Review for Australia

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Founded in 2014, BlackBull Markets is one of many Forex and CFD trading brokers available to Australian traders. Is it the one for you? We’d like to help you decide with our concise review of BlackBull Markets.

What is BlackBull Markets?

The trading industry is growing fast as everyday people are discovering easy to use brokers and trading platforms. BlackBull Markets is one of these and is New Zealand-based. We recommend that you read our other reviews of alternatives before you make your final choice.

BlackBull Markets supports all the popular trading platforms and has a choice of accounts. The entry-level account – designed for beginners – offers zero commission on trades, an appealing feature for newcomers. There is also a Demo Account option which we strongly advise you take advantage of should you be new to trading.

With a wide variety of markets and lower costs than many rivals, BlackBull Markets has gained a lot of support with experienced traders as well as novices, so let’s talk about the features you need to know about.

The Features of BlackBull Markets You Need to Know About

User reviews of BlackBull Markets usually give a thumbs-up for ease of use. This is an important point, especially for newcomers to Forex and CFD trading. Experienced traders will appreciate the wide variety of spreads and markets. Here are the positive features we thought worth mentioning:
  • User-friendly, so great for less experienced traders.
  • No commission fees on the basic package; check the website for others.
  • Comprehensive selection of spreads and markets.
  • Risk minimisation tools.
  • Choice of trading platforms.
There are a couple of concerns that we need to put forward when considering BlackBull Markets, and these are:
  • High deposits in comparison to rivals.
  • Withdrawal fees relatively costly.
  • Not licensed by the ASIC.
We will cover the latter point in more detail later on, but next, we want to discuss whether BlackBull Markets is for the inexperienced or the expert trader.

Who is BlackBull Markets Best for?

Some Forex Brokers offer platforms that target newcomers. Others prefer to attract experienced traders. BlackBull Markets sits in the middle with a choice of packages ranging from the basic entry-level option to a premium VIP deal that has many attractive benefits.

We believe that the entry-level package is perfectly suitable for newcomers – although for absolute novices, we cannot recommend the Demo Account strongly enough and suggest you use it for some time before risking your real money.

BlackBull Markets does offer a range of tutorials and educational material that is useful and informative making it more attractive to novice traders.

Experienced traders will appreciate the wide choice of markets and spreads but should be aware that there are higher deposit levels than with many alternatives and withdrawal fees are greater than average.

Why is BlackBull Markets Best for Australian Traders?

BlackBull Markets is notably not regulated by the Australian Securities and Investments Commission (ASIC). Australian users will automatically be covered by Financial Services Authority (FSA) Seychelles. Is this a problem? If so, only a minor one. FSA does not provide the same cover as ASIC, so guarantees are not as great, but it is a recognised body, and BlackBull Markets is considered a safe broker. The BlackBull Group overall is regulated by New Zealand’s Financial Markets Authority (FMA), a recognised top-tier regulator which is offered mainly to NZ-based clients, but Australian clients can apply for it only with a few extra documents needed. It’s also worth mentioning that Blackbull Markets does not have a minimum deposit requirement to open an account

Should You Choose BlackBull Markets?

Overall, the BlackBull Markets broker packages cover all potential customers. The free entry-level deal is great for those who are new to the markets and the Demo Account offers an excellent way of getting to understand what trading is all about.

Is it the one for the expert? Yes and no. A fine choice and a wide variety is markets are appealing, but high deposits and expensive withdrawal costs do not.

Read our other reviews – and reviews elsewhere – before making your decision, and good luck with your trading career.

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