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

Spread Co Limited is a limited liability company registered in England and Wales with its registered office at 22 Bruton Street, London W1J 6QE. Company No. 05614477. Spread Co is an online spread betting and CFD broker specialising in forex, commodities, equities and indices. Spread Co Limited is authorised and regulated by the Financial Conduct Authority with regulatory license no. 446677.

Market Instruments

With a Spread Co account, investors can trade on a wide range of global markets, from major indices and global equities to foreign exchange currency pairs, commodities, crude oil, precious metals, and bitcoin, to meet a wide range of investment needs.

Account Types

Spread Co has two different types of accounts, the spread trading account and the CFD account. Minimum deposits depend on account types. To open a spread trading account, traders are required a minimum initial deposit of £200 and £250 for a CFD account.

Demo Account

Spread Co does offer a demo trading account for beginners to practice forex trading in a 100% risk-free environment. The Spread Co demo account does not have a specific expiry date. Some features of the Spread Co demo accounts include the following:

• Practice trading with £25,000 virtual funds

• Develope you strategies with no risk

• Learn how risk management tools work

Leverage

Leverage level offered by Spread Co do depends on the regulatory requirement you trading with and the brokerage operates. This applies due to various safety measures applied to eliminate the risks involved while trading, specially for retail traders.

With Spread Co, LverageTrading leverage vary by different instruments:

• 1:30 for Forex currency pairs,

• 1:10 for commodities

• 1:20 for indices

• 1:5 for enquities

Spreads & Commissions

Spread Co offers commission-free trading, and the broker only takes its cut from the spread. EURUSD spreads start from 0.8 pips, 4 pips for US Crude Oil, 4 pips for Gold, and 40 pips for Bitcoin/USD.

There are no other fee indicated for Spread Co, but traders are advised to verified fees pertainning to the following：

• Account maintenance and management

• Inactivity fees and Conversion fees

Trading Platforms

What Spread Co offers traders is not the MT4 trading platform, which is currently the most popular one, but its in-house developed online trading platform. This online trading platform requires no download and allows traders to customize their trading experience for experienced traders and novice traders. Anyway, lack of widely used MT4 & MT5 trading platforms really a drawback for such a big broker.

Deposit and Withdrawal of Spread Co

Spread Co allows traders to deposit and withdraw funds from their investment accounts via the following methods:

• Credit Card;

• UK Credit Card;

• Bank Transfer;

• Skrill

Spread Co does not charge traders any fees for withdrawals or deposits . Spread Co has no limit to how much you can fund via the platform, but the maximum amount which it can accept for your first payment is GBP500 via the phone. Successfully authorized payments will be available immediately.

Spread Co suppports the following deposit currencies when deposits and withdrawals are made to end from the trading account: GBP, USD, EUR.

Customer Support

Customer services are available in several options: email, whatapp, Live chat, and telephone.

Here are some contact details:

Telephone: 0800 078 9398

Email: info@spreadco.com

Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, and Youtube.

Educational Resources

Spread Co provides clients support through relationship managers that provide assistance as well as providing eucation. The broker provides educational library with multiple guides and video updates along with the market overview, platform, news and economic calendars.

Pros & Cons

Frequently Asked Questions

Is Spread Co legal ？

Yes, Spread Co is a legal broker that adheres to rules and regulations stipulated by the FCA.

Does Spread Co offer a demo account？

Yes, Spread Co does offer a demo account that is valid for 2 weeks.

What is the maximum trading leverage offered by Spread Co？

The maximum trading leverage offered by Spread Co is up to 1:30.

What are the deposit and withdrawal methods supported by Spread Co ？

Payment methods supported by Spread Co include Bank Wire Transfer, Credit/Debit Cards, Skrill.

What is the overall rating for Spread Co ？

The overall rating for Spread Co is 7.06/10 based on its License Index, Business Index, Risk Management Index, Software Index and Regulatory Index.