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TickmillBlackBull Markets Review
Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer
Steven HatzakisSteven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
BlackBull Markets offers multiple platforms, including the full MetaTrader suite (MetaTrader 4 and MetaTrader 5), cTrader, TradingView, and multiple social copy trading apps.
While its sparse education and modest research materials can't compete with what's offered by the best forex brokers in those categories, BlackBull Markets continues to grow quickly and has shown major progress in developing its product offering.
-
Minimum Deposit:
$0 -
Trust Score:
77 -
Tradeable Symbols (Total):
26000
| Range of Investments | |
| Trading Fees | |
| Trading Platforms | |
| Research | |
| Mobile Trading | |
| Education |
Check out ForexBrokers.com's picks for the best forex brokers in 2026.
| 2026 | #22 |
| 2025 | #24 |
| 2024 | #25 |
| 2023 | #25 |
| 2022 | #34 |
| 2021 | #26 |
Why you can trust us
Led by Steven Hatzakis, Global Director of Online Broker Research, the ForexBrokers.com research team collects and audits data across more than 100 variables. We analyze key tools and features important to forex and CFD traders and collect data on commissions, spreads, and fees across the industry to help you find the best broker for your needs.
We also review each broker’s regulatory status; this research helps us determine whether you should trust the broker to keep your money safe. As part of this effort, we track 100+ international regulatory agencies to power our proprietary Trust Score rating system.
Our researchers open personal brokerage accounts and test all available platforms on desktop, web, and mobile for each broker reviewed on ForexBrokers.com. Learn more about how we test.
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Table of Contents
BlackBull Markets pros & cons
Pros
- Full MetaTrader, cTrader, and TradingView platform support.
- Huge market range with 26,000+ tradeable symbols.
- Multiple copy trading platforms, including ZuluTrade and Myfxbook.
Cons
- Education content is thin compared to top brokers.
- No proprietary mobile app available.
- Relatively small number of regulatory licenses.
My top takeaways for BlackBull Markets in 2026:
- Available to residents of New Zealand, unlike many brokers that don’t have the required FMA license.
- The recently launched BlackBull CopyTrader web platform boosts the broker's existing social copy trading offering.
- BlackBull Markets received a significant private equity investment from Milford Private Equity Fund III LP, helping to bolster its position as a leading broker in New Zealand.
- In 2024, LMAX, a leading institutional U.K. brokerage, acquired a 20% stake in BlackBull Markets and improved upon its content and product offering.
- BlackBull’s entities regulated in Seychelles offer light regulatory protection compared to more trusted jurisdictions.
Trust Score
Developed by ForexBrokers.com and in use for nearly 10 years, Trust Score is a proprietary rating system powered by a range of unique quantitative and qualitative metrics, including each company’s number of regulatory licenses. Trust Scores range from 1 to 99 (the higher a broker’s rating, the better). Learn more.
Is BlackBull Markets safe?
BlackBull Markets is considered Average Risk, with an overall Trust Score of 77 out of 99. BlackBull Markets is not publicly traded, does not operate a bank, and is authorised by one Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). BlackBull Markets is authorised by the following Tier-1 regulator: Financial Markets Authority (FMA) . Learn more about Trust Score or see where the different BlackBull Markets entities are regulated.
| Feature |
 BlackBull Markets
|
|---|---|
| Year Founded | 2014 |
| Publicly Traded (Listed) | No |
| Bank | No |
| Tier-1 Licenses | 1 |
| Tier-2 Licenses | 0 |
| Tier-3 Licenses | 0 |
| Tier-4 Licenses | 1 |
Range of investments
BlackBull Markets has significantly expanded its range of markets with the launch of BlackBull Shares. Today, BlackBull offers over 26,000 tradeable symbols; 2,500 are available on MetaTrader 5 (716 in Prime account) and TradingView, and 311 symbols on MetaTrader 4. The table below summarizes the different investment products available to BlackBull Markets clients.
Cryptocurrency: Cryptocurrency trading is available at BlackBull Markets through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents.
| Feature |
BlackBull Markets
|
|---|---|
| Forex Trading (Spot or CFDs) | Yes |
| Tradeable Symbols (Total) | 26000 |
| Forex Pairs (Total) | 72 |
| U.S. Stocks (Shares) | Yes |
| Global Stocks (Non-U.S. Shares) | Yes |
| Copy Trading | Yes |
| Cryptocurrency (Underlying) | No |
| Cryptocurrency (CFDs) | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
BlackBull Markets fees
Trading costs at BlackBull Markets are about average for the industry and will vary depending on which of its three account types you choose.
Spreads: The average spread on the EUR/USD at BlackBull Markets for the Prime account is 0.16 based on October 2025 data, which equates to an all-in cost of 0.76 after factoring the per-side commission of 0.3 pips or $6 per 10,000 traded. This makes the Prime account my preferred choice compared to the Standard account.
Accounts comparison: The Standard account is commission-free and has no minimum deposit requirement but does have higher spreads comparably, with a 1.16 average spread on the EUR/USD in October 2025. The Prime account offers lower spreads and recently reduced its minimum deposit to zero, and there is a commission of $3 per side or $6 round turn per lot. The ECN Institutional account is BlackBull’s more exclusive option for active traders that deposit at least $20,000, with commission rates of $2 per side or $4 per round turn.
| Feature |
BlackBull Markets
|
|---|---|
| Minimum Deposit | $0 |
| Average spread (EUR/USD) - Standard account | 1.16 |
| All-in Cost EUR/USD - Active | 0.76 |
| Non-wire bank transfer | Yes |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
Mobile trading apps
With no proprietary mobile app available, BlackBull Markets trails behind industry leaders such as IG and Saxo. Despite that omission, BlackBull continues to launch additional third-party trading platforms that steadily improve its offering, including TradingView. For our top picks among trading apps, read our guide to the best forex trading apps.
Apps overview: BlackBull Markets offers the full MetaTrader suite with iOS and Android versions of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps come standard and are both available for download from the Apple App Store and Google Play store, respectively. In addition, BlackBull Markets offers TradingView and cTrader, both available on mobile in the iOS and Google Play stores.
The MetaTrader 5 mobile trading app while using BlackBull Markets.
| Feature |
BlackBull Markets
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Price Alerts | Yes |
| Mobile Watchlists - Syncing | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Research - Economic Calendar | Yes |
| Mobile Charting - Indicators / Studies | 30 |
Trading platforms
BlackBull Markets offers the full MetaTrader suite, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for desktop and web, and BlackBull Markets' own BlackBull Shares platform (powered by Interactive Brokers’ TWS platform). Also available is TradingView, a popular trading platform that delivers a range of powerful charting functions and robust analysis tools.
Platforms overview: With a limited range of markets and no platform add-ons, there is simply not much to say about the broker’s MetaTrader offering. The special features that are available come by way of third-party providers, such as support for Virtual Private Servers (VPS) hosting and the integration of third-party social copy trading apps. BlackBull's strengths here lie in the growing selection of additional platforms, including cTrader and TradingView.
The MetaTrader 5 desktop trading platform while using BlackBull Markets.
Social copy trading: BlackBull Markets offers several third-party apps for social copy trading, in addition to the native Signals market available in MT4. Supported copy trading platforms include ZuluTrade and MyFxbook. BlackBull CopyTrader (which delivers full integration with MetaTrader powered by Hokocloud) is a recent proprietary addition to the broker's social copy trading suite.
VPS hosting: For algorithmic traders that want to run their MetaTrader platform 24-7 from a Virtual Private Server (VPS), BlackBull Markets offers VPS service from BeeksFX for a monthly fee. Free VPS service is also available if you deposit at least $2,000 in the ECN Prime account and complete at least 20 standard lots (2,000,000 units worth of trading volume) each month.
| Feature |
BlackBull Markets
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Desktop Trading Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Copy Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Charting - Indicators / Studies (Total) | 109 |
| Charting - Trade From Chart | Yes |
Research
BlackBull Markets recently expanded its market research coverage with the acquisition of research firm ATM Strategy. Considerable progress has been made in the broker's research offering, though BlackBull Markets still trails behind the best forex and CFD brokers for research.
Research overview: BlackBull Markets produces a daily series featuring technical and fundamental analysis for specific trading symbols. For example, the "Trade in 60 Seconds" series consists of one-minute recordings that focus on a particular trading symbol, such as a given forex pair or CFD. There are also articles as part of its "Trading Opportunities" series that feature fundamental analysis, though these are housed under its education section and not in a dedicated research category. However, there is a dedicated research portal with free and paid (premium) content, including the newsletters that you can subscribe to via SubStack with various subscription options available on a monthly and annual basis.
Market news and analysis: Both the Market Reviews articles and the selection of videos produced by BlackBull Markets’ in-house team are high-quality, and provide depth from a technical and fundamental analysis perspective. I was pleased to see more content, including collaborations with LMAX representatives, in some of BlackBull Markets videos, with more videos being posted on YouTube. However, while BlackBull has stepped up its video production, many of the videos are tutorial-like and only cover basic topics such as how to use its platform.
BlackBull Markets' economic calendar, built for precision market analysis.
| Feature |
BlackBull Markets
|
|---|---|
| Daily Market Commentary (Articles) | Yes |
| Forex News (Top-Tier Sources) | No |
| Autochartist | Yes |
| Trading Central | No |
| Client sentiment data | Yes |
Education
BlackBull Markets’ overall educational offering has made good progress recently with an expanded number of articles that are organized by category, yet it still has long way to go to catch up to the best forex brokers for beginners.
Steven's take:
"I was pleased to see the addition of quizzes at the end of some of the courses, and adding progress tracking features could help BlackBull further improve its educational offering for retail traders. In addition, I found the "Learn to Trade" podcast series to be of good quality and well organized within dedicated playlists on the broker's YouTube channel."
Education Hub: BlackBull Markets' Education Hub is a section of the BlackBull website that is exclusively dedicated to trader education. This Education Hub has recently been expanded with dozens of new themed articles which are organized by experience level. BlackBull Markets has also increased its offering of educational video content and has added new playlists and webinar recordings to its YouTube channel. I found these playlists, such as the Elliot Wave Theory series and the Whiteboard Wizards playlist, to be of decent quality. Likewise, the more advanced courses, like the Forex 303 lessons, were good quality albeit very short and more akin to articles than actual courses. Overall, I'm happy to see that BlackBull continues to build on its position in this category, though there certainly remains room for improvement.
The BlackBull Markets podcast library, featuring introductory trading insights and strategies.
| Feature |
BlackBull Markets
|
|---|---|
| Webinars | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | Yes |
Final thoughts
Despite a growing product range on MetaTrader and support for social copy trading tools, and the addition of new platforms, BlackBull Markets falls behind the best brokers in several key categories, such as education and research, although considerable progress has been made in these categories in the last few years. It’s also important to note that BlackBull Markets only has a relatively small number of regulatory licenses.
BlackBull Markets is a maturing broker that has been in operation for nearly a decade and has made great strides over the last two years toward improving its value proposition to traders and investors. That said, BlackBull still has room to further improve against the competition. We’d love to see the broker acquire more regulatory licenses in Tier-1 jurisdictions, which would improve its Trust Score.
BlackBull Markets Star Ratings
| Feature |
BlackBull Markets
|
|---|---|
| Overall Rating |
|
| Trust Score | 77 |
| Range of Investments |
|
| Trading Fees |
|
| Trading Platforms |
|
| Research |
|
| Mobile Trading |
|
| Education |
|
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's how we test.
Our testing
Why you should trust us
Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Click here to learn more about how we test.
How we tested
At ForexBrokers.com, our online broker reviews are based on our collected quantitative data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Mobile testing is conducted on modern devices that run the most up-to-date operating systems available:
- For Apple, we use MacBook Pro laptops running macOS 15.3, and the iPhone XS running iOS 18.3.
- For Android, we use the Samsung Galaxy S20 and Samsung Galaxy S23 Ultra devices running Android OS 15.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
Our researchers thoroughly test a wide range of key features, such as the availability and quality of watch lists, mobile charting, real-time and streaming quotes, and educational resources – among other important variables. We also evaluate the overall design of the mobile experience, and look for a fluid user experience moving between mobile and desktop platforms.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.
Article Resources
BlackBull Markets Regulation BlackBull Markets Education
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Steven Hatzakis February 09, 2026About BlackBull Markets
Founded in 2014, BlackBull Markets is a forex and CFD broker headquartered in New Zealand. The broker has been fully authorized by the Financial Markets Authority (FMA) in New Zealand since 2020, and registered on the Financial Services Provider Register (FSPR) since the end of 2014. The BlackBull Markets brand also holds a license in the offshore island nation of Seychelles with the Financial Services Authority (FSA). In May 2023, BlackBull Markets received an investment from Milford Asset Management, a prominent private equity firm in New Zealand, which included the appointment of an independent Chairman, followed by an acquisition of 20% of the company from LMAX Group in June of 2024.
About the Editorial Team
Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.