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)

General Information & Regulation

FOREX EXCHANGE was established in 2004, registered for financial futures trading business in January 2006, joined the Financial Futures Trading Association in February 2006, and registered for first-class financial instruments business in September 2007. In 2008, FOREX EXCHANGE moved its headquarters to Tokyo, and in November of the same year, it registered for the second financial instruments business, and in 2009, it registered for investment advice/institutions, and in April of the same year, it joined the Japan Investment Advisors Association. FOREX EXCHANGE's business also includes forex margin trading in accordance with the Financial Instruments and Exchange Act and all related businesses. FOREX EXCHANGE currently holds a retail foreign exchange license authorized by the Japan Financial Services Agency (Regulatory No. 2010001141146).

Market Instruments

Investors on the FOREX EXCHANGE platform can trade popular currency pairs in the foreign exchange market, as well as commodity futures and stock futures.

Minimum Deposit

There is no initial minimum deposit requirement, but investors are advised to deposit at 100,000 JPY into their MT4 account.

Spreads & Commissions

The EURUSD spread is 0.7 pips, the USDJPY spread is 0.6 pips, the minimum spread for EURJPY is 0.7 pips, the minimum spread for GBPJPY is 1.4 pips, and the spread for AUDJPY is 1 pip.

Trading Platforms Available

Traders trading with FOREX EXCHANGE can apply the MT4 trading platform, which is currently the most popular platform in the market. Since its release in 2005, the MT4 trading platform has become a popular platform for financial institutions and investors worldwide due to the convenience of the trading system and the ability to customize charts freely. The most attractive aspect of MT4 is that it can automatically buy and sell, and users can view exchange rates to buy and sell, and by pre-determining trading rules, trades can be made automatically.

Deposit and Withdrawal

Traders can make deposits to their investment accounts via regular bank transfers and quick transfers. A regular bank transfer is a method of transferring funds to the company's designated account at Internet banking, ATMs, or over-the-counter at financial institutions. The quick transfer is a method of transferring funds from a trader's computer or smartphone to [My MT4]. The client is responsible for transfer fees when transferring funds to the bank account designated by FOREX EXCHANGE. Withdrawals are, in principle, free of charge, but if the withdrawal amount is less than 10,000 yen and the withdrawal amount exceeds 5 times per month, a fee of 540 yen will be charged for each withdrawal.

Pros & Cons of FOREX EXCHANGE

Customer Support

If clients have any inquiries or trading-related issues, they can get in touch with FOREX EXCHANGE through the following contact channels:

Telephone: +81 03-3537-2311

Email: support@forex-exchange.com