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FXMARE editorial rating, not user reviews.
New Zealand-founded ECN broker with genuine raw spreads from 0.0 pips, five trading platforms, and a rare real-stock trading arm — but UK/EU clients should look elsewhere.
Spreads, minimum deposit and leverage are indicative and vary by account type and jurisdiction — confirm current terms on the broker’s site.
New Zealand-founded ECN broker with genuine raw spreads from 0.0 pips, five trading platforms, and a rare real-stock trading arm — but UK/EU clients should look elsewhere.
BlackBull Markets is regulated by FMA (New Zealand), FSA (Seychelles). Independently verifiable licences include FMA — Black Bull Group Limited, Derivatives Issuer, FSP403326 (NZ). Regulatory protection is more limited and leans on offshore licensing, so verify the entity you sign up with before depositing.
EUR/USD spreads start around 0.1 pips on the raw/ECN account (about 0.8 pips on the standard, commission-free account), with $6 (Prime); $4 (Institutional) commission. The minimum deposit is $0 and maximum retail leverage is 1:500 (NZ/offshore via FSA Seychelles); EU/UK clients redirected — no FCA entity. Swap-free (Islamic) trading is offered conditionally — Available on all four account types (Standard, Prime, Prime+, Institutional) on request. No swap charged, but an administrative fee is levied from the 5th rollover day onward (repeating every 5 days while position remains open). Status can be revoked if trading behaviour appears inconsistent with intended use. Some sources indicate no proof of Islamic faith is required; others indicate a request-based process. Available in most jurisdictions BlackBull operates in..
Platforms include MT4, MT5, cTrader, TradingView, BlackBull Invest, BlackBull CopyTrader, ZuluTrade, Myfxbook. BlackBull Markets provides 26,000+ (real stocks/ETFs via BlackBull Invest on 80+ exchanges; ~70–85 forex pairs, 27 commodities, 15 indices, 27 cryptocurrencies as CFDs) across Forex, Commodities, Indices, Crypto, Stocks, ETFs, funded via Visa/Mastercard, Bank wire, SEPA, Skrill, Neteller, Apple Pay.
BlackBull Markets is a legitimate, well-established ECN broker that delivers competitive raw pricing ($6 round-turn on the Prime account, ~0.1 pip average EUR/USD) and an unusually broad platform stack including cTrader and TradingView alongside the MetaTrader suite. The 26,000+ instrument count is largely driven by real equities via its BlackBull Invest arm (powered by Interactive Brokers), which meaningfully differentiates it from CFD-only competitors. The key limitation is regulatory depth: the FMA (NZ) licence is genuine but carries no statutory investor compensation scheme, and the majority of international clients trade under FSA Seychelles — an offshore regulator. UK clients face an additional complication: the FCA has listed "Black Bull Group UK Limited" as an unauthorised firm, meaning the legitimate broker cannot legally serve UK retail clients, and any UK-facing clone should be treated as a scam risk.
Headquarters: Auckland, New Zealand · Funding: Visa/Mastercard, Bank wire, SEPA, Skrill, Neteller, Apple Pay, Google Pay, Cryptocurrency (BTC, ETH, USDT, USDC, LTC, BCH, XRP, XLM, LINK)
Licence numbers link to each regulator’s public register so you can verify them yourself. Last checked 2026-06-25.
BlackBull Markets is authorised by FMA (New Zealand), FSA (Seychelles). Brokers regulated in tier-1 jurisdictions are generally required to hold client money separately from company funds and may offer protections such as negative-balance protection or an investor-compensation scheme — the exact safeguards depend on the entity you sign up with. As with all trading, your capital is at risk. Confirm which entity, licence and protections apply to your country on the regulator’s register before funding an account.
Available on desktop, web and mobile. Tradable across Forex, Commodities, Indices, Crypto, Stocks, ETFs. Track every position you take with BlackBull Markets in the FXMARE trading journal.
BlackBull Markets is a legitimate, well-established ECN broker that delivers competitive raw pricing ($6 round-turn on the Prime account, ~0.1 pip average EUR/USD) and an unusually broad platform stack including cTrader and TradingView alongside the MetaTrader suite. The 26,000+ instrument count is largely driven by real equities via its BlackBull Invest arm (powered by Interactive Brokers), which meaningfully differentiates it from CFD-only competitors. The key limitation is regulatory depth: the FMA (NZ) licence is genuine but carries no statutory investor compensation scheme, and the majority of international clients trade under FSA Seychelles — an offshore regulator. UK clients face an additional complication: the FCA has listed "Black Bull Group UK Limited" as an unauthorised firm, meaning the legitimate broker cannot legally serve UK retail clients, and any UK-facing clone should be treated as a scam risk.
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FXMARE may earn a commission if you open an account through links on this page, including any placement marked Sponsored. This does not affect our independent rating of BlackBull Markets. Trading forex and CFDs carries a high level of risk and most retail accounts lose money. This review is information, not financial advice — verify all terms with the broker directly.
