BofA also foresees a modest downside risk for the EUR, driven by a potential dovish shift in the ECB’s forward guidance. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based BlackBull Markets trading account. All client deposits remain segregated from corporate funds, and the custodian bank is the ANZ Bank. BlackBull Markets is also a member of the New Zealand Financial Services Complaints Limited (FSCL) dispute resolution scheme. BlackBull supports a variety of funding methods, including bank wires, Neteller, and credit cards, providing flexibility for deposit and withdrawal options. The Japanese yen has tested prices below 141, an eight-month low for the pair.
Trading costs at BlackBull Markets are about average for the industry, and will vary depending on which of its three account types you choose. BlackBull Market is a legit broker regulated in New Zealand, the UK, and Seychelles with an exceptional regulatory track record. BlackBull Markets has a regulatory license from the FMA in New Zealand and the FSA in Seychelles. The research also consists of technical analysis, but the entire package costs $45 monthly. Regrettably, BlackBull Markets limits its demo account to just 30 days, and it is only available on the MT4 trading platform. While the trading conditions are not identical to a live one, BlackBull Markets should allow for longer than 30 days.
BlackBull is highly suitable for beginners, providing extensive educational resources that include videos for both novice and advanced traders, making it an ideal platform for new traders to start their trading journey. Beginner traders get fifteen videos, and numerous short Trading Guides, offering an in-depth introduction to trading. While I prefer more content, BlackBull Markets presents enough information for beginners. BlackBull Markets recently expanded its market research coverage with the acquisition of research firm dowmarkets 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 in this category.
This week’s inflation data could be decisive for traders as markets weigh whether the Fed will cut rates by 25 or 50 basis points. The US economy added 142,000 jobs in August 2024, falling short of the expected 160,000, based on the latest NFP data. Opening an account at BlackBull Markets is acceptably quick and follows the normal standard in the retail Forex industry. I found some of the additional questions unnecessary, as traders can fill them out as they wish, and there is no verification of the answers.
BlackBull Markets includes the account verification with the account opening form, which I like, as it is a requirement and saves traders the extra step from the back office. New traders must submit a copy of their ID and a proof of residency document dated within the past three months. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
It is a wonderful choice for traders that demand superior market access and tools. Since BlackBull Markets is a FinTech company, I would like to see a proprietary solution. MT4 remains the leader in algorithmic trading, but MT4 and MT5 support it, and both have a built-in copy-trading system.
Education
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. BlackBull Markets offers multiple platforms, including the full MetaTrader suite (MetaTrader 4 and MetaTrader 5), cTrader, TradingView, and multiple social copy trading apps. BlackBull’s fee structure is favorably structured for active traders, including discounts for high-volume trading. The average spread cost for the EUR/USD pair using a Prime account stands at 0.76 after factoring in commissions, which is about industry average.
Research and Education
Here is a screenshot of the BlackBull Markets MT4 trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. Futures markets are pricing in a US rate cut for September, with a 62% chance of a 25-basis point cut and a 38% chance of 50-basis points. The Fed’s dovish shift has helped the euro surge to its highest level in more than a year. Bank of America (BofA) is in line with market expectations, predicting that the European Central Bank (ECB) will announce a 25-basis point rate cut in its decision this week.
Can I trust BlackBull Markets?
BlackBull Markets makes money from spreads, commissions, and swap rates on leveraged overnight positions. BlackBull allows traders to deposit any amount they wish following the initial minimum deposit. BlackBull Markets answers some questions in its FAQ section and describes its products and services well. Therefore, I believe that most traders will not require assistance unless there is an emergency. In such a case, BlackBull Markets ensures a customer service representative is available.
I appreciate the flexibility at BlackBull Markets for deposits, as after the initial deposit, follow-on amounts remain at the discretion of traders. Another positive is that traders may deposit in nine currencies, but not all deposit methods support each of them. BlackBull Markets process all withdrawal requests within 24 hours, and the back office handles all financial transactions from an easy-to-use interface. 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 Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
- 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.
- BlackBull Markets is also a member of the New Zealand Financial Services Complaints Limited (FSCL) dispute resolution scheme.
- In our 2024 Annual Awards, BlackBull earned Best in Class honors for our Offering of Investments category.
- Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
Forex traders get 60+ currency pairs, but the bulk consists of 23,000+ equity CFD and the underlying asset for direct share dealing aafx trading review from 80+ global stock exchanges. It results in a broad-based choice of trading instruments ideal for demanding asset managers and long-term dividend income-generating portfolios. BlackBull Markets has also added cryptocurrency CFDs, and the only asset class not offered is ETFs. I like the spreads available at BlackBull Markets, which confirm the existence of institution-level pricing for retail traders.
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. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.
From a technical perspective, this long wick might look to some traders to be the start of a small reversal before its eventual sojourn lower. Rom a fundamental perspective, US Consumer Price Index (CPI) came in a few hours ago lower than… BlackBull Markets offers cryptocurrency CFDs, but not physical cryptocurrency trading. BlackBull Markets accepts deposits by bank wires, credit/debit cards, Skrill, Neteller, Union Pay, FasaPay, and selected cryptocurrencies.
BlackBull Markets offers MT4/MT5 as a desktop client, webtrader, and mobile app. 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. BlackBull is well-equipped with advanced trading platforms, offering multiple third-party platforms, which are highly recommended for traders who need robust technical analysis tools and customizable trading environments. BlackBull Markets is a New Zealand-headquartered Forex broker and FinTech company. It prides itself on speed and precision, promising traders ECN/NDD execution with deep liquidity through the MT4/MT5 trading platforms.
Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. BlackBull is a broker considered to be of “Average Risk” with a trust score of 78 based on rankings from ForexBrokers.com, providing a relatively secure trading environment.