Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is BlackBull？

BlackBull is an STP (Straight Through Processing) forex broker that provides online trading services to retail and institutional clients. The company was founded in 2014 and is headquartered in Auckland, New Zealand. BlackBull is regulated by the Financial Markets Authority (FMA) of New Zealand and offers over 26,000 tradable instruments including forex, energy, indices, cryptocurrencies, equities, and metals. The broker provides clients with multiple trading platforms such as MetaTrader 4/5 and various trading tools. The company also provides educational resources to assist traders in their trading journey.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

BlackBull appears to be a reliable and well-regulated broker that offers a wide range of trading instruments, platforms, and educational resources. The broker's emphasis on security and transparency, such as offering segregated accounts and holding funds in Tier 1 New Zealand banks, is also a positive aspect.

However, there have been some negative reviews regarding difficulties in withdrawing funds and claims of the broker being a scam, which is a cause for concern.

It's important to note that this is just a general overview of the pros and cons, and individual experiences may vary.

BlackBull Alternative Brokers

There are many alternative brokers to BlackBull depending on the specific needs and preferences of the trader. Some popular options include:

• UFX - provides a user-friendly trading platform and a wide range of educational materials, but there are some concerns about its regulation and customer service.

• Valutrades - offers competitive spreads and multiple account types, but its product offerings are limited and its customer service could be improved.

• Z.com Trade - offers low spreads and no deposit or withdrawal fees, but its product offerings are limited and it is only regulated in one jurisdiction.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is BlackBull Safe or Scam？

It's difficult to make a definitive determination on whether BlackBull is safe or a scam as there is no clear consensus on the matter. While the broker is regulated by the Financial Markets Authority and claims to hold client funds in safe, Tier 1 New Zealand-based banks with segregated accounts, the negative reviews from some clients who report issues with withdrawing their funds raise concerns. It's important for individuals to conduct their own research, carefully evaluate the broker's features and services, and exercise caution when investing their money.

Market Instruments

BlackBull offers a diverse range of 26,000+ financial instruments across various asset classes, including forex, energy, indices, cryptocurrencies, equities, and metals. Traders have access to a wide range of currency pairs, including majors, minors, and exotics, and can also trade popular cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Additionally, the broker provides access to a variety of equity CFDs, including those from major markets like the US, Europe, and Asia. Traders can also trade popular indices like major US and the NASDAQ, as well as energy products like crude oil and natural gas. Lastly, BlackBull provides access to precious metals like gold and silver, which are often used as safe-haven assets during times of market volatility. Therefore, both beginners and experienced traders can find what they want to trade on BlackBull.

Accounts

Demo Account: BlackBull provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: BlackBull offers a total of 3 account types: ECN Standard, ECN Prime and ECN Institutional. The minimum deposit to open an account is $0, $2,000 and $20,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, the ECN Standard account will be the most suitable option for you.

Leverage

BlackBull offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

Spreads & Commissions

BlackBull spreads and commissions depend on the account type. We can see that the spread starts from 0.8 pips on the ECN Standard account, from 0.1 pips on the ECN Prime account, while only the ECN Institutional account can enjoy raw spreads from 0.0 pips.

There is no commission for the ECN Standard account, a commission of 6 USD per lot for the ECN Prime account and 4 USD per lot for the ECN Institutional account.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

As for the trading platform, BlackBull provides its clients with many options. There are public platforms including TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5), BlackBull Trader, and BlackBull Shares.

TradingView is a popular charting and social trading platform that allows traders to connect with other traders, access a wide range of charting tools, and share trading ideas. MT4 and MT5 are well-known platforms in the forex industry, offering advanced charting capabilities, customizable indicators, and algorithmic trading options. BlackBull Trader is a proprietary platform developed by BlackBull that offers advanced charting and trading tools, while BlackBull Shares is a social trading platform that allows clients to automatically copy the trades of experienced traders.

Overall, BlackBull's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Trading Tools

BlackBull offers Virtual Private Server (VPS) trading to its clients, which is a useful tool for traders who use automated trading strategies or expert advisors. The broker also provides access to other trading tools such as FIX API Trading, which allows traders to connect their own custom software to the BlackBull liquidity pool, as well as Autochartist, which provides market analysis and trading signals. ZuluTrade and MyFxbook are also available for those who want to follow and copy trades of other successful traders. Overall, BlackBull offers a range of trading tools to assist traders in their trading activities.

Deposits & Withdrawals

BlackBull offers its clients multiple options for depositing and withdrawing funds, including bank wire, POLi, and credit/debit card (Visa/MasterCard). The base currencies are USD and NZD.

No minimum deposit requirement. No fees for deposits and withdrawals. Most deposits are processed instantly, while withdrawals are typically processed within 24 hours.

BlackBull minimum deposit vs other brokers

See the deposit & withdrawal fee comparison table below:

Note: The above information is subject to change and may vary based on the payment method used. It's always recommended to check with the broker for the most up-to-date and accurate fee information.

To withdraw funds from your account, visit the “My Wallet” tab found on the left-hand side of the portal.

Find the ‘WITHDRAW FUNDS’ tab along the top of this portal page. Within this tab, you will be presented with a 4-step process to request a withdrawal.

Step 1: Select the method by which you want to make a withdrawal. Only methods that you are approved to use will show up as an option to select.

Step 2: Select the wallet from which you want to make a withdrawal. Please note: Each withdrawal request is restricted to one wallet.

Step 3: Specify the amount you want to withdraw.

Step 4: Finally, confirm your request within the Secure Client Area, and the status of your request will change to pending.

Customer Service

Below are the details about the customer service.

• Languages: English, Spanish, French, Chinese, German, Portuguese, Italian, Thai language, Korean, Arabic, Vietnamese, etc.

• Service Hour: 24/7

• Live chat

• Email: support@blackbull.com

• Phone: +64 9 558 5142

• Address: BlackBull Markets, Level 20, 188 Quay Street, Auckland, 1010

• Social media: Facebook, Instagram, LinkedIn, YouTube, Twitter, WhatsApp and Telegram

Overall, BlackBull's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: The information is based on online research and may be subject to change.

Education

A series of educational resources is available at BlackBull, such as webinars, market analysis, and trading videos that cover various topics related to trading.

The educational materials are categorized based on the clients level of experience, with Forex Beginner, Forex Intermediate, and Forex Advanced categories. The educational articles cover a wide range of topics, from the basics of trading to advanced strategies and technical analysis. These resources are designed to help traders develop a better understanding of the markets and improve their trading skills, which can ultimately lead to more successful trades.

User Exposure on WikiFX

On our website, you can see that some users have reported unable to withdraw and scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

Based on the information provided, BlackBull appears to be a well-regulated broker that offers a wide range of tradable instruments across multiple asset classes, as well as a variety of trading platforms and tools. The broker's educational resources and customer service are also noteworthy.

However, there are some negative reviews from clients regarding difficulty with withdrawals and accusations of being a scam platform, so traders should proceed with caution and do their own research before investing with BlackBull.

Frequently Asked Questions (FAQs)

Let's start here

Axi's the real deal, all regulated, with a bunch of over 220 trading options, forex, CFDs for stocks, indices, commodities, and even cryptocurrencies – they're all on the menu. They start at a $0 deposit, offer competitive spreads from 0.0 pips on major currencies, and here is the cool part: using ECN execution for direct market orders. As for the platform, it's none other than the legendary MetaTrader 4. With a touch of pride, they claim to have served more than 600,000 traders across 100 countries. Want to see if Axi's trading environment lives up to its claims？ Time for some exploration!

Pros & Cons

Taking a look at Axi, we spot its share of upsides and downsides. Let's start with the bright side, it's got the backing of multiple solid financial authorities, a bunch of instruments you can trade, and they let you practice with demo accounts. Plus, they've got this MT4 platform thing going and some handy tools to help you trade smarter. They even speak different languages for customer support, and moving money in and out is easy, with no extra charges from them.

Now, here's the catch: Axi only works with investors from Australia and New Zealand. And, well, there've been a few stories about people having trouble with their money or some shady stuff.

Axi Overview

What is Axi ？

Axi (formerly AxiTrader) was founded in 2007 in Sydney, Australia, and has since expanded its presence to include offices in other regions, including Europe and the Middle East. AxiTrader welcomes all kinds of traders. If you're new and want to start without spending much, the $0 minimum deposit and easy platform are great. If you're more experienced, you'll like the many options to trade, good spreads, and quick execution. And for those inclined towards advanced features, Axi's ECN system and MetaTrader 4 platform are a notable combination.

Is Axi legit？

Considering the pivotal aspect for brokers, that is regulation, it's indeed comforting to note that AxiTrader is under the oversight of regulatory bodies from four distinct nations. Among them, the UK's FCA and Australia's ASIC stand out as internationally acknowledged tier-1 regulatory authorities.

Regulated Country	Regulated Authority	Regulated Entity	License Type	License Number
	ASIC	Axi FINANCIAL SERVICES PTY LTD	Market Making (MM)	318232
	FCA	Axi Financial Services (UK) Limited	Market Making (MM)	466201
	FMA	Axi FINANCIAL SERVICES PTY LTD	Straight Through processing (STP)	518226
	DFSA	Axi Financial Services Pty Ltd	Retail Forex	F003742

Advancing further, let's undertake a more detailed exploration of the regulatory licenses secured by Axi.

Axi's Australian entity, Axi FINANCIAL SERVICES PTY LTD, is regulated by ASIC under regulatory license number 318232, holding a license for Market Making (MM）.

Notably, this license's credibility gains support from WikiFX's investigators. They physically traveled to the institution's registered address for thorough verification. At Level 10, 90 Arthur Street, North Sydney, NSW 2060, Australia, they found a functioning office, confirming the broker's operational status and significant scale. Behold, an image capturing the tangible office space of this company.

In addition to being regulated by ASIC, this entity is also regulated by the FMA in New Zealand, with regulatory number 518226, holding a license for Straight Through processing (STP).

Now, let's examine the third license. Axi's UK branch, known as Axi Financial Services (UK) Limited, is overseen by the FCA and has been granted regulatory license number 466201. This license permits them to engage in Market Making (MM) activities as well.

Lastly, Axi also follows regulations from the DFSA in the United Arab Emirates under regulatory number F003742, authorized for Retail Forex activities.

Market Instruments

Trading Assets	Available
Forex
Shares
Indices
Commodities
Cryptocurrencies
ETFS
Stocks
Options

Axi (formerly AxiTrader) gives you access to about 220 trading choices across 5 categories: forex, shares, indices, commodities, and cryptocurrencies. Yet, there are also other popular picks for trading, like ETFs, stocks, and options.

Account Types

AxiTrader offers three account types tailored to different trading needs, namely Standard, Pro, and Elite. The Standard Account has no setup cost and starts with spreads from 0.9 pips. The Pro Account tightens those spreads to 0.0 pips with a $7 round trip commission, while the Elite Account, designed for advanced traders, features 0.0 pips spreads and a reduced $3.50 round trip commission. All accounts support trading from 0.01 lots, mobile trading, and include MT4 NexGen. Leverage reaches up to 500:1, and you can choose base currencies among AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD. For the Elite Account, a minimum deposit of USD 25,000 is required.

Demo Trading

Also, Axitrader gives users free demo accounts that last for 30 days and include $50,000 in virtual funds. Demo accounts offered by Axitrader shine in these areas:

• Practice Trading: You get $50,000 in virtual money to practice trading however you like.

• Personal Support: You'll have a dedicated Account Manager and support available 24/5 to help you.

• Real-Time Info: You can see live spreads on the popular trading platform, MT4.

• Live-Like Demo: The MetaTrader 4 Demo account mimics the real market, so you can practice effectively.

• Switch to Real: When you're ready, you can turn your demo account into a real one by funding it.

• Currency Options: You can choose your account's base currency from options like AUD, EUR, GBP, USD, CHF, and PLNX.

However, base currency cannot be changed once created.

Lastly, they even offer special Islamic trading accounts for Muslim traders that follow Shariah law.

Leverage

The leverage offered by AxiTrader is capped at 500:1. This means that traders can open positions with a much larger amount than their initial investment. However, high leverage can also lead to significant losses if the trade does not go as expected. Traders should exercise caution and use proper risk management strategies when trading with high leverage. Axi provides educational resources and tools to help traders understand the risks associated with leverage and how to manage them effectively.

Spreads & Commissions

Spreads and commissions with Axi are scaled with the accounts offered. Specifically, the spread starts from 0.4 pips on the Standard account, and 0.0 pips on the Pro and Elite account.

As for the commission, there is no commission on the Standard account, a commission of $7 round trip on the Pro account, and $3.5 round trip on the Elite account.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: Spread and commission information is subject to change, and the above table reflects the data available at the time of writing. Please always check with the broker for the most up-to-date information.

Trading Platforms

Axi offers traders the popular MetaTrader 4 (MT4) platform for desktop, mobile, and web. MT4 is a widely used platform that offers a wide range of charting and technical analysis tools, customizable indicators, and the ability to use automated trading strategies through Expert Advisors (EAs). The MT4 platform is available for download on PC and Mac computers, as well as on mobile devices for both iOS and Android.

Additionally, Axi offers the MT4 WebTrader, which allows traders to access the platform directly from their web browser without the need for any downloads or installations.

Overall, the availability of MT4 on multiple devices and the option to use EAs makes it a popular choice among traders.

Available Devices	PC, Mac, Mobile ( OS and Android)
Language	English
Scalping
Hedging
Automated Trading
One-click Execution
Web-based Trading
Mobile Trading
MT5
cTrader
Proprietary Platform

Trading Tools

There are a range of trading tools designed to enhance the trading experience for its clients. These include Myfxbook Autotrade, which allows traders to follow and copy the trades of successful traders, MT4 signals which provide real-time trade ideas and analysis, MT4 VPS hosting which offers a dedicated virtual private server to ensure optimal performance and minimal downtime.

Additionally, the broker offers a suite of calculators to help traders with their risk management and trade analysis, such as Profit/Loss Calculator, Pip calculator, and Currency converter. These trading tools can be very helpful for traders to better understand their trades and manage their risk effectively.

Deposits & Withdrawals

Axi minimum deposit vs other broker.

AxiTrader stands out from other brokers as they don't require any money to start trading. Here's why it matters:

• Easy Access: With no minimum deposit, anyone can join and trade. You don't need a lot of money upfront.

• Less Risk: Starting with $0 means you're not risking much. It's great for beginners or anyone cautious about investing.

• You Decide: You're in control. You can put in as much as you're comfortable with.

• No Pressure: You don't feel pushed to deposit a certain amount. It's more relaxed and beginner-friendly.

• Learn and Experiment: You can try different strategies and learn without needing a big investment upfront.

Axi welcomes traders to fund their accounts through the following payment methods: credit/debit cards, POLi and Bank Transfers, Skrill, Neteller, Fasapay, POLi, Cryptos, with no fees charged by Axi for any payment method. However, traders should be aware that some international banking institutions may charge fees for transfers, for which Axi accepts no responsibility.

Please also note that payments to Axi via credit/debit cards may be viewed as a cash advance by some banks, potentially incurring additional fees. Deposits made via credit/debit cards and POLi are processed instantly, while bank transfer deposits and withdrawals can take 1-3 business days to be processed.

Payment Methods	Currencies	Minimum Deposit	Minimum Withdrawal	Fee	Time
	AED, CAD, EUR, GBP, JPY,NZD, PLN, SGD, USD	5 USD	N/A	Free*	Instant
	AED, CAD, EUR, GBP, JPY,NZD, PLN, SGD, USD	5 USD	N/A	Free*	Instant
	CAD, EUR, GBP,PLN, USD	5 USD	5 USD	Free*	Instant
	AUD, CAD, CHF, EUR, GBP,HKD, JPY, NZD, SGD, USD	N/A	50 USD	Free	1-3 days
	AED, CAD, EUR, GBP,INR, USD	5 EUR	5 USD	Free	1-3 days
	Vary depending on countries			Free	1-3 days
	IDR, USD	5 EUR	5 USD	Free	1-3 days
	N/A	30 USD	50 USD	Free	1-3 days
	N/A	30 USD	50 USD	Free	1-3 days
	BRL	50 BRL	N/A	Free	Up to 12hrs
	AUD	5 AUD	N/A	Free	Instant

Remember, these fees can change and might be different based on how you're making the payment. To stay updated, it's a smart move to reach out to the broker and get the most recent fee details before you decide to deposit or withdraw any funds.

Customer Support

Axi's customer service is comprehensive and available 24/5 in multiple languages, with live chat, phone, email, WhatsApp, and a help center. This means that clients can easily get in touch with the Axi support team whenever they need assistance or have any questions. The availability of multiple communication channels ensures that clients can choose the most convenient way to contact support.

Additionally, the Help Center offers a range of resources and frequently asked questions that can help clients find answers to their questions quickly and efficiently.

Overall, Axi's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Education

Axi makes learning easy with a variety of educational resources. If you're using the MT4 platform, their step-by-step video tutorials are there to guide you. They also offer Free eBooks, covering everything from basics to advanced topics. Stay updated on market trends through the Axi Blog, which features expert insights and daily analysis. For structured learning, the Axi Academy provides courses on forex, technical analysis, and risk management. If you're diving into cryptocurrencies, the Crypto Glossary will help you grasp the terms.

Educational Contents	Offered
MT4 Video Tutorials
eBooks
Blog
Axi Academy
Crypto Glossary
Trading Glossary
Webinars

Conclusion

All things considered, Axi is a well-regulated and reputable broker that offers a wide range of markets and instruments for trading, including forex, shares, indices, commodities, and cryptocurrencies. They also offer multiple account options, free demo accounts, and leverage up to 500:1. In addition, their MT4 trading platform is robust and feature-rich, with various tools and resources to support traders.

However, there have been reports of issues with withdrawals and scams. Overall, Axi is a good choice for experienced traders (Australian and New Zealand residents only) who are looking for a diverse range of trading opportunities and who prioritize a broker's reputation and regulation.

Frequently Asked Questions (FAQs)

Q1: Is AxiCorp regulated？

A1: Yes. It is regulated by Australia Securities & Investment Commission (ASIC).

Q2: Does Axi accept US investors？

A2: No, Axi does not accept US investors.

Q3: Does AxiCorp offer demo accounts？

A3: Yes, demo accounts are available.

Q4: Does Axi offer the industry-standard MT4 & MT5？

A4: Yes. Axi only supports MT4.

Q5: What is the minimum deposit for AxiCorp？

A5: There is no minimum initial deposit requirement.

Q6: Is AxiCorp a good broker for beginners？

A6: Yes. AxiCorp is a good choice for beginners because it is regulated well and offers various trading instruments with no minimum deposit requirement and competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.