BlackBull Markets offers multi-asset ECN trading across TradingView, MetaTrader, and cTrader with deep liquidity streams. International accounts operate under Seychelles FSA supervision without statutory compensation scheme coverage.
Spreads from
0.8 pips
Commission
$3 per lot per side
Min deposit
$0
Established
2014
Regulated by
FSA Seychelles · FMA (New Zealand)
Written byLaverlane Team·Updated16 Oct 2026
Researched with AI assistance and verified by our editors
Regulation
BlackBull Markets operates under a dual-entity structure split between New Zealand oversight and offshore Seychelles registration.
BlackBull Markets serves international clients primarily through BBG Limited, an entity incorporated in Seychelles and licensed by the FSA (licence SD045). New Zealand residents contract under Black Bull Group Limited, registered as a Financial Service Provider (FSP403326) and licensed by the FMA as a Derivatives Issuer.
Retail international clients trading under the Seychelles entity don't receive statutory investor compensation, such as the Financial Services Compensation Scheme (FSCS) or the Investor Compensation Fund (ICF).
Key facts
Founded in Auckland in 2014, BlackBull Markets says it serves traders from more than 180 countries, as at October 2026.
Client-facing entity
BBG Limited
Regulators
FSA Seychelles, FMA (New Zealand)
Restricted countries
AF, DZ, AS, BY, VG, BI, CM, CA, CF, CU, KP, CD, ER, PS, GU, GW, HT, IR, IQ, JP, KE, XK, LA, LB, LY, MM, MP, PR, RU, SO, SS, SD, SY, UA, US, VI, VE, VN, YE, GB, IN, AT, BE, BG, HR, CY, CZ, DK, EE, FI, FR, DE, GR, HU, IE, IT, LV, LT, LU, MT, NL, PL, PT, RO, SK, SI, ES, SE
Negative-balance protection
jurisdiction-only
Minimum deposit
$0
Max leverage (offshore entity)
1:500
Max leverage (offshore entity)
1:100
Typical EUR/USD spread
0.1 pips
Platforms
MT4, MT5, cTrader, TradingView
Account currencies
USD, EUR, GBP, AUD
BlackBull Markets was founded by Michael Walker and Selwyn Loekman and is headquartered in Auckland, New Zealand. A growth equity fund managed by Milford Asset Management holds a minority stake, and the broker remains privately held.
BlackBull Markets has operated since 2014, which may suggest a more established footing than newer offshore entrants, although longevity is no guarantee of safety. Accounts use Equinix servers in London to facilitate low-latency order routing.
Best for
Pros & cons
Fund safety
Client capital is held in segregated bank accounts independent of corporate operational funds.
Client funds are held in segregated client accounts with ANZ Bank in New Zealand, separate from the company's own operating funds. Segregation keeps client balances apart from the broker's operating accounts.
Because international accounts go through Seychelles, you won't have statutory compensation cover if the broker becomes insolvent.
Account terms
Account terms feature a non-dealing desk model with no requotes alongside conditional swap-free accounts.
BlackBull Markets does not requote orders, although slippage can occur during very high trading periods such as important news events. Swap-free accounts are available at the broker's discretion in selected countries and are subject to administrative fees for positions held beyond a specified period.
BlackBull Markets states that it does not charge inactivity fees. Withdrawals carry a flat $5 fee per request, while deposits carry no internal fees. Some payment providers may charge their own processing or conversion fees.
Costs
Pricing spans commission-free ECN Standard accounts and raw-spread ECN Prime accounts with per-lot commissions.
ECN Standard accounts feature spreads starting from 0.8 pips without trading commission. ECN Prime accounts offer spreads from 0.0 pips with a commission of $3.00 per lot per side ($6.00 round-turn), while Prime+ accounts carry the same $3.00 per lot per side commission and are eligible for commission rebates.
Live Prime account spreads on the broker's instrument pages were about 0.1 pips on EUR/USD, GBP/USD, and USD/JPY and 0.12 on gold at the time of checking, before commission.
Overnight swap rates apply on open positions held past market close. Deposits carry no internal broker fees, but each withdrawal request carries a flat $5 fee.
| Instrument | Asset class | Typical spread | Unit |
|---|---|---|---|
| EUR/USD | Forex CFD | 0.1 | pips |
| GBP/USD | Forex CFD | 0.1 | pips |
| USD/JPY | Forex CFD | 0.1 | pips |
| US 100 (Nasdaq) | Index CFD | 1.2 | points |
| US 500 (S&P 500) | Index CFD | 0.5 | points |
| XAU/USD (Gold) | Commodity CFD | 0.12 | $ / oz |
| US Crude Oil | Commodity CFD | 0.034 | $ / bbl |
| BTC/USD | Crypto CFD | 15 | $ |
Spreads shown are typical, not guaranteed, and widen during volatile sessions or outside main market hours. Figures reflect the broker's standard retail account.
Markets
The CFD platforms offer forex, index, commodity, crypto and share CFDs. The wider figure of more than 26,000 instruments also includes real shares, ETFs, options and bonds on BlackBull Invest, a separate investing platform.
Forex CFD
91 pairs
Index CFD
15 indices
Commodity CFD
Metals, energies, softs
Single-Stock CFD
26000 shares
Crypto CFD
Available ✓ · Weekend trading ✓
Real ownership: Stocks / ETFs
Stocks, ETFs
Traders access 91 currency pairs across major, minor, and exotic categories alongside 15 equity indices and 20 commodity CFDs. BlackBull Markets and its associated entities offer more than 26,000 tradable instruments across all trading platforms.
Crypto CFDs include 11 major digital assets, and the crypto market operates 24/7 including weekends (except on MT4). BlackBull Invest, a separate share investing platform, offers real shares and ETFs alongside the margin-traded CFD product suite.
Platforms
Platform selection spans TradingView, MetaTrader 4, MetaTrader 5, and cTrader.
You can analyse charts and place orders directly in TradingView, using BlackBull's live ECN prices. MetaTrader 4, MetaTrader 5, and cTrader provide comprehensive algorithmic support through EAs, cTrader algo trading, and custom indicators.
Mobile trading apps for iOS and Android are available alongside the BlackBull Client Portal, CopyTrader, and BlackBull Invest apps. All four trading platforms are available with any account type.
Execution
Order processing relies on non-dealing desk ECN and STP execution through Equinix data centres.
BlackBull Markets routes client orders directly to external liquidity providers without a dealing desk, and does not requote orders.Accounts are served from Equinix servers in London, with an advertised average execution speed under 100ms as at October 2026.
Slippage can occur during very high trading periods such as important news events and may work in the client's favour or against it.
Leverage
Retail leverage reaches a maximum ratio of 1:500 across international account structures.
International accounts operating under Seychelles FSA oversight access leverage of up to 1:500 on forex and metals, while indices, energies, and crypto carry a fixed leverage of 1:100. At 1:500, the leverage on offer is far higher than the 1:30 cap that applies to retail traders in the UK and EU.
A margin call notification is issued when margin drops below 70%, and positions are automatically closed out below 50%. High leverage magnifies your exposure, so your margin can run out fast when markets move sharply.
Account types
Tiered account choices differentiate between commission-free ECN Standard and raw-spread ECN Prime and Prime+ accounts.
| Account | Min deposit | Commission | Swap | Spread | Demo | Islamic |
|---|---|---|---|---|---|---|
| ECN Standard | $0 | Spread-only | Variable overnight swap | From 0.8 pips · Variable | Yes | Yes |
| ECN Prime | $0 | $3 per lot per side | Variable overnight swap | From 0 pips · Variable | Yes | Yes |
| Prime+ | $0 | $3 per lot per side | Variable overnight swap | From 0 pips · Variable | Yes | Yes |
All account types have a minimum deposit of $0. ECN Standard accounts add a markup to the spread instead of charging commission, with spreads from 0.8 pips, while ECN Prime accounts offer spreads from 0.0 pips with a $3.00 per lot per side commission.
Prime+ accounts also start from 0.0 pips with the same $3.00 per lot per side commission, plus access to commission rebates. Swap-free accounts are available in selected countries, subject to administrative fees.
Funding
Deposit and withdrawal options cover bank transfers, cards, Apple Pay, Google Pay, major e-wallets, and cryptocurrency payments.
Deposits support Visa, Mastercard, Apple Pay, Google Pay, Skrill, Neteller, bank transfer, and crypto without internal funding fees. Card deposits have a $50 minimum, and some payment providers may charge their own fees.
Skrill, Neteller, and cryptocurrency withdrawals are generally processed within the same business day once approved, while card and bank transfer withdrawals typically take one to three business days. BlackBull Markets charges a flat $5 fee per withdrawal request.
Support
Client support operates 24/7 via live chat, email, and global telephone helplines.
Support is available 24/7 through live support staff, email, WhatsApp, and telephone. Online help resources include an organised Knowledge Base covering account management, platform installation, and order entry procedures.
Market research materials include daily market analysis videos, a daily analysis podcast, research articles, and an economic calendar. The Education Hub offers trading courses, tutorials, webinars, and podcasts across forex, crypto, commodities, and stocks.
Availability
Service coverage reaches global international markets while excluding major restricted Tier-1 jurisdictions.
BlackBull Markets does not onboard clients from countries on its restricted list, which includes the United States, Canada, Japan, Iran, Russia, and Vietnam. Its offer of services is also not intended for residents of the European Union, the United Kingdom, or India.
Prospective clients must verify residence eligibility during onboarding before submitting compliance identification documents.
Verdict
BlackBull Markets stands out for technical traders seeking platform diversity, raw ECN execution, and extensive multi-asset instrument choices. TradingView, cTrader and MetaTrader suit different charting styles and automated trading setups. However, international clients contract with an offshore Seychelles entity, forfeiting statutory compensation schemes. Active traders using Prime pricing may see tighter overall costs, though results depend on the account type, instrument and market conditions. Casual traders, however, must account for wider markups on Standard tiers and the flat withdrawal fee.
It suits you if you value advanced charting tools, direct TradingView execution and a big choice of international instruments. High-frequency automated strategies benefit from Equinix server collocation and competitive ECN commission models. It's less suitable if you need Tier-1 protections such as the FSCS or ICF, or if you make frequent small withdrawals that attract the flat withdrawal fee.
It's a fit for algorithmic traders, multi-platform chartists and share CFD specialists who care more about liquidity and execution speed than Tier-1 compensation schemes.
FAQ
BlackBull Markets operates under two main entities depending on client jurisdiction. Retail international clients contract with BBG Limited in Seychelles, regulated by the FSA under licence SD045 with no statutory compensation scheme. New Zealand residents trade under Black Bull Group Limited, which holds an FSP licence (FSP403326) with the FMA.
BlackBull Markets is an institutional and retail broker founded in Auckland, New Zealand in 2014. The broker offers forex, index, commodity, and share CFDs across MetaTrader, cTrader, and TradingView platforms. It operates a non-dealing desk model with execution through Equinix servers.
BlackBull Markets connects to TradingView directly through the platform's broker panel interface. You can connect your trading account by searching for BlackBull Markets in the TradingView broker panel and entering your client portal credentials. Live execution applies standard broker spreads without additional platform integration surcharges.
BlackBull Markets is an established brokerage operating continuously since 2014. On 22 April 2026, the UK Financial Conduct Authority (FCA) added BlackBull Markets to its Warning List of unauthorised firms, stating that the firm is not authorised by the FCA and may be targeting people in the UK. BlackBull Markets says its services are not intended for UK residents. The broker has operated since 2014 under New Zealand FSP registration and Seychelles FSA oversight. Client funds are held in segregated client accounts with ANZ Bank in New Zealand, separate from the company's own operating funds.
Skrill, Neteller, and cryptocurrency withdrawals are generally processed within the same business day once approved. Card and bank transfer withdrawals typically take one to three business days after processing. BlackBull Markets charges a flat $5 fee per withdrawal request.
Alternatives
Eightcap offers CFDs on 850+ markets through TradingView, MetaTrader 4, MetaTrader 5 and TradeLocker, with a Raw account that starts from 0.0 pips. Clients outside the regulated regions contract with Eightcap Global Limited in The Bahamas, which carries no statutory compensation scheme.
Octa offers swap-free forex and CFD trading on OctaTrader, MetaTrader 4 and MetaTrader 5, with no trading commission and a $25 minimum deposit. Accounts on octabroker.com are with Versustrategy Inc, registered in Saint Lucia, and the legal documents page lists no financial regulator.
JustMarkets offers leverage of up to 1:3000, swap-free trading and MT4, MT5 and its own app, but international clients contract with an offshore Seychelles entity without a statutory compensation scheme.
FXCM offers forex and CFD trading on Trading Station, MetaTrader 4 (MT4) and TradingView. Accounts on the international website are with Stratos Global LLC, an offshore entity in St Vincent and the Grenadines that sits outside the group’s regulated companies.
ThinkMarkets offers ThinkTrader, TradingView, MT4 and MT5 with 4,000+ instruments and leverage of up to 1:500 on Standard and ThinkZero accounts. International clients contract with a Seychelles-licensed entity.
IronFX operates as a retail CFD broker providing high leverage up to 1:1000 on MetaTrader 4, but international clients contract through an offshore entity without statutory compensation protection.
CFI Financial offers MT5, TradingView and its own app with no minimum deposit and leverage of up to 1:500. International clients trade with CFI International Ltd, licensed in Mauritius.
EC Markets offers MT4, MT5 and its own app with a $10 minimum deposit on STD and ECN accounts and leverage of up to 1:1000. International clients trade with the Mauritius-licensed entity.
General CFD risk warning
CFDs are complex leveraged products and carry a high risk of rapid losses. They do not give you ownership of the underlying asset. Depending on your jurisdiction, broker entity and client classification, protections such as leverage limits and negative-balance protection may differ or may not apply. Where negative-balance protection is not provided, losses may exceed the funds you deposit. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Disclaimer
This page is provided for general information only. Nothing on this page constitutes investment, tax or trading advice, or a recommendation to open an account or trade with a particular broker. Laverlane does not provide personalised investment advice. We are not a broker or financial institution, we do not arrange or execute trades, and we do not hold client funds.
Broker availability, spreads, fees, leverage, products and legal protections, including compensation schemes and negative-balance protection, vary by the broker’s legal entity, your country of residence and your client classification, and may change over time. Where a broker is required to publish its retail CFD loss rate, that figure is shown on its review page. Spreads shown are typical figures as at our verification date; they are not guaranteed and may widen, particularly during volatile market conditions.
Laverlane Scores reflect the information available at our most recent review. They are editorial assessments, not guarantees of a broker’s financial strength, reliability or future performance. Where we report a regulator warning or enforcement notice, it reflects the official public information available at the time of our review.
Links to brokers take you outside Laverlane. We are not responsible for a third-party website’s content, privacy practices, security or handling of any data you provide. Our research may be compiled with AI assistance and is checked by our editorial team against available sources before publication.
Always verify the broker’s current terms, regulatory status, product availability and eligibility directly with the broker before opening an account or depositing funds.