BlackBull Markets is a basic MetaTrader broker that offers support for a few different third-party social duplicate trading platforms in addition to a growing selection of products.
BlackBull Review Markets finds it difficult to compete with the top forex brokers due to its limited research and educational resources.
Pros and Cons of BlackBull Markets
- Available to New Zealand residents, in contrast to many brokers who lack the necessary full FMA licenced.
- Offers the complete MetaTrader set (MT4 and MT5).
- Supports a variety of external copy trading sites, including Myfxbook and ZuluTrade.
- In 2021, integration with the TradingView web platform became possible.
- Lacks tier-one regulatory permits in jurisdictions other than New Zealand, such as the EU.
- BlackBull’s organization with a Seychelles license merely provides minimal regulatory protection.
- BlackBull’s research and educational materials fall short of what the top MetaTrader brokers have to offer due to their limited reach.
- According to the average spreads we found, BlackBull Markets’ commissions and fees seem to be in line with the standard.
- In comparison to the top forex brokers, BlackBull Markets offers just 281 symbols for trading on MetaTrader.
Making an investment offer
A total of 281 exchangeable symbols are available at BlackBull Markets, which is about average again for sector. The many investment products that are offered to BlackBull Markets users are listed in the table below.
Trading in cryptocurrency is only possible through CFDs at BlackBull Markets; trading the underlying stock is not an option (e.g. buying Bitcoin). Notably, neither U.K. residents nor retail traders from any broker’s U.K. entity are permitted to trade cryptocurrency CFDs.
Fees and commissions
Depending on which of its 3 account types you select, BlackBull Markets’ trading charges are generally average for the sector.
The Standard account’s average spread in October 2021 was 1.25 pips, making it more expensive than BlackBull Markets’ ECN Prime account (my preferred choice). The effective average spread for the EUR/USD for October 2021 is 0.824 when the round-trip commission equivalent of 0.6 pip per trade on the ECN Prime account is taken into consideration.
Comparison of the accounts:
The Standard account has no minimum deposit requirement and is commission-free. Lower spreads are available with the ECN Prime account, but a $2,000 minimum deposit is necessary, and there is a $3 per side or $6 round turn per lot commission. BlackBull’s more exclusive option for professional traders who deposit at least $20,000 is the ECN Institutional account, with commission rates that are individually negotiated with the broker.
Before adopting Pepperstone, Australian best forex broker should decide on their chosen trading approach, as well as the necessary resources and trading environment. This strategy makes sure that traders choose an account based on their planned purpose, rather than just trading costs, even though it may appear counter-intuitive.
- Standard account (trading platforms Capitalize or MetaTrader 4/5). Although holders of Regular accounts don’t pay a commission for round-turn trades of a standard lot, spread costs must be closely monitored. This account type has spreads that range from 0.6 to 0.8 pip.
- Razor account (Capitalize or MetaTrader 4/5). Low spreads of 0.0 to 0.2 pip are available with this ECN-style account, however traders must pay a higher commission of AUD $7.00 every round-turn trade of a normal lot.
- Sharp account (cTrader or TradingView). Because of the ECN-like trading environment, this version of the Razor account has small spreads of 0.0 to 0.2 pips. A commission of USD $6.00 is paid by traders for each round-turn trade involving a normal lot.
Why choose pepperstone account?
If they choose to register an account with Pepperstone, traders can be sure that they will discover attractive spreads on a variety of forex pairs. According to our study, which is reflected in the table below, when it comes to tight spreads, Pepperstone routinely ranks among the best in the business with the Standard account.
Trading charges for the Pepperstone Razor Account for the Metatrader and Capitalize platforms are cheaper than those for the Standard account, at AUD $3.50/$7.00 (sideways/round-turn). With no dealing desk and straight-through processing (STP) execution, this account allows you to receive the best prices from a network of more than 20 financial liquidity providers.
Execution of STP is occasionally referred to mistakenly as an ECN (ECN). Despite the accuracy of the execution type language, our forex brokerage calculator shows that the Pepperstone brokerage is among the lowest of the ASIC-regulated brokers for this sort of account.