BlackBull Markets Review 2026
Regulated broker with real licence numbers.
BlackBull Markets is a regulated CFD broker founded in 2014. It holds a FMA licence under number FSP403326.
The basics
BlackBull Markets was founded in 2014 and is headquartered in Auckland, New Zealand. It is privately owned. The broker offers CFDs on 26,000 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 2014 |
| Headquarters | Auckland, New Zealand |
| Instruments | 26,000+ |
| Platforms | MT4, MT5, TradingView, cTrader |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is BlackBull Markets safe?
The Seychelles FSA is an offshore regulator. It requires broker registration and basic conduct rules, but does not offer the same client protections as the FCA, CySEC, or ASIC. There is no compensation scheme and leverage limits are not imposed.
| Regulator | Licence | Entity |
|---|---|---|
| FMA | FSP403326 ✓ | BlackBull Ltd |
| FSA | SD045 ✓ | BlackBull Markets Ltd |
You can verify the FMA licence at brokerforexreviews.com. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
BlackBull Markets spreads
These are the typical spreads on BlackBull Markets's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | From 0.0 (ECN) + commission pips |
| GBP/USD | 0.3 pips pips |
| USD/JPY | 0.1 pips pips |
| Gold (XAU/USD) | 15c/oz |
| S&P 500 | 0.4pt |
BlackBull Markets's EUR/USD spread of From 0.0 (ECN) + commission pips is wider than ECN-first brokers but typical for a commission-free account.
BlackBull Markets withdrawal fee and processing time
Fee: None. BlackBull Markets does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Processing time: 1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
BlackBull Markets minimum deposit by entity
The minimum deposit depends on which BlackBull Markets entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| BlackBull Ltd | FMA FSP403326 | None | 1:500 |
| BlackBull Markets Ltd | FSA SD045 | None | 1:500 |
BlackBull Markets vs RoboForex
| BlackBull Markets | RoboForex | |
|---|---|---|
| Primary regulator | FMA FSP403326 | FSC 000138/210 |
| Min deposit | None | $10 |
| EUR/USD spread | From 0.0 (ECN) + commission pips | From 0.0 |
| MetaTrader | Yes | Yes |
| Instruments | 26,000+ | 12,000+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | Varies |
Both brokers are regulated and legitimate. BlackBull Markets suits traders who value MetaTrader and algorithmic trading. RoboForex is better for traders who prioritise its specific regulated entity coverage.
Regulation — the numbers that matter
| FMA | FSP403326 — BlackBull Ltd |
| FSA | SD045 — BlackBull Markets Ltd |
Leverage for retail clients in the EU and UK is capped at 1:500 on major forex pairs under ESMA rules. The offshore entity offers up to 1:500, but with lighter regulatory protection.
Pros and Cons
What works
- FMA regulated
- No minimum deposit
- MetaTrader 4 and 5 available
- No inactivity fee
- Tight EUR/USD spread from 0 pips
- 26,000+ instruments
What does not work
- No tier-1 regulator (FCA/ASIC/CySEC) — offshore entity only
- No copy trading
- No real stock ownership — CFDs only
The verdict
BlackBull Markets is a legitimate, regulated broker. The FMA licence number FSP403326 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.0 out of 5.
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Frequently asked questions
Is BlackBull Markets safe?
The Seychelles FSA is an offshore regulator. BlackBull Markets holds FMA licence FSP403326, which is publicly verifiable on the official register.
What is the BlackBull Markets minimum deposit?
The minimum deposit is None. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the BlackBull Markets EUR/USD spread?
The EUR/USD spread on BlackBull Markets standard accounts is typically From 0.0 (ECN) + commission pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does BlackBull Markets take to process withdrawals?
1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Does BlackBull Markets charge withdrawal fees?
None. BlackBull Markets does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Does BlackBull Markets have MetaTrader?
Yes. BlackBull Markets supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.