BlackBull Markets Account Types Editor’s Verdict

New Zealand-headquartered BlackBull Markets has established itself as a leading broker for demanding traders. It features superb technology and trading infrastructure, deep liquidity pools, STP, ECN, and NDD order processing, low-latency order routing, internal communication and price quotes, and conflict-of-interest-free trading. Algorithmic traders get VPS hosting and API trading, copy traders can rely on trusted solutions like ZuluTrade and Myfxbook Autotrade, and manual traders, the MT4/MT5 trading platforms upgraded with Autochartist and the TradingView community.

Ratings

Overall
4.6/5
Fees
5/5
Deposit and withdrawal
4/5
Asset selection
4/5
Regulation and security
4.5/5

BlackBull Markets offers one commission-free account and two competitively priced commission-based alternatives. We have reviewed the three BlackBull Markets account types, so that you can pick the most suitable one for your circumstances. In addition, for more thorough information, read our in-depth Blackbull Markets broker Review.

BlackBull Markets Account Types – Key Points

  • Minimum deposit requirements of $0, $2,000, and $20,000 depending upon account type
  • Commission-free and commission-based account types available
  • Minimum trade size of 0.1 lots with STP/ECN/NDD order execution
  • Algorithmic and copy trading support plus API trading and VPS hosting
  • MAM/PAMM options for account management services
  • Nine deposit and account base currencies
  • Demo and Islamic accounts availableBlackBull Markets Account Types Overview at a Glance
Account Type
ECN Standard
ECN Prime
ECN Institutional
Minimum Deposit
$0
$2,000
$20,000
Minimum Spreads
0.8 pips
0.1 pips
0.0 pips
Commission
Commission-free
$6.00 per round lot
$3.00 per round lot
Rebate Program
No
No
No
Maximum Leverage
1:500
1:500
1:500
Order Execution Model
Market Maker/ECN hybrid
STP/ECN/NDD
STP/ECN/NDD
Minimum Trade Size
0.01 lots
0.01 lots
0.01 lots
Algorithmic Trading
Yes
Yes
Yes
Copy Trading
Yes
Yes
Yes
Mobile Trading
Yes
Yes
Yes
VPS Trading
No
Yes
Yes
API Trading
No
Yes
Yes

BlackBull Markets Account Types

Traders can choose between three BlackBull Markets account types, offering a reasonably priced commission-free option without a BlackBull Markets minimum deposit requirement, one competitively priced commission-based alternative, and one ultra-low-cost option. Our introduction to the BlackBull Markets account types below will help you decide which one presents the best offer for your trading style and strategy.

BlackBull Markets ECN Standard Account

The BlackBull Markets ECN Standard account has no minimum deposit requirement, making it one of the most accessible options in the industry. The commission-free cost structure commences with a minimum spread of 0.8 pips or $8.00 per 1.0 standard lot. High maximum leverage of 1:500, including negative balance protection, adds a competitive edge. Traders get market maker/ECN hybrid order execution, and a swap-free Islamic account is available.

Conclusion:

BlackBull Markets ECN Prime Account

For a minimum deposit of $2,000, active traders get the competitively priced BlackBull Markets ECN Prime account. Trading costs start from spreads of 0.1 pips for a commission of $6.00 per standard round lot or $7.00 in total fees. Besides high leverage and negative balance protection, traders also get API trading, making it ideal for demanding algorithmic traders. A swap-free Islamic account exists, and STP/ECN/NDD order processing and VPS hosting extend the competitive edge.

Conclusion:

  • The BlackBull Markets ECN Prime account offers algorithmic traders, scalpers, and high-frequency strategies a highly competitive trading infrastructure.

BlackBull Markets ECN Institutional Account

The BlackBull Markets ECN Institutional account offers identical trading conditions to the ECN Prime account, but trading costs have a distinctive difference. Traders get raw spreads from 0.0 pips for a commission of $3.00 per 1.0 standard round lot or $3.00 in total fees. The secondary difference is that traders may select their Equinix server. The BlackBull Markets minimum deposit is $20,000 for this account type.

Conclusion:

  • The BlackBull Markets ECN Institutional account ranks among the most competitive ones for demanding traders and is well worth the $20,000 minimum deposit.

BlackBull Markets Account Features

BlackBull Markets caters to causal beginner traders and demanding active traders alike. While the trading technology and infrastructure remain market-leading for all traders, the trading costs and services differ, but all three BlackBull Markets account types compete at the top tier.

Here is an overview of BlackBull Markets account features:

BlackBull Markets ECN Standard

  • Commission-free account with spreads from 0.8 pips or $8.00 per standard round lot
  • Maximum Forex leverage of 1:500 with negative balance protection
  • MT4/MT5 trading platforms upgraded with the Autochartist plugin
  • No minimum deposit requirement
  • Nine deposit and account base currencies
  • Full support for algorithmic trading and copy trading
  • Access to the BlackBull Social, ZuluTrade, Myfxbook Autotrade, and TradingView
  • Swap-free Islamic account
  • Minimum trading volume of 0.1 lots, ECN liquidity, and low-latency trading
  • Market maker/ECN hybrid order processing
  • 60+ currency pairs
  • No inactivity fees

BlackBull Markets ECN Prime

  • Commission-based account with spreads from 0.1 pips for a commission of $6.00 per standard round lot
  • $2,000 minimum deposit requirement
  • MT4/MT5 trading platforms upgraded with the Autochartist plugin
  • Nine deposit and account base currencies
  • Maximum Forex leverage of 1:500 with negative balance protection
  • VPS hosting (NYC Servers and BeeksFX)
  • API trading
  • Full support for algorithmic and copy trading
  • Access to the BlackBull Social, ZuluTrade, Myfxbook Autotrade, and TradingView
  • Swap-free Islamic account
  • Minimum trading volume of 0.1 lots, ECN liquidity, and low-latency trading
  • STP/ECN/NDD order processing
  • 60+ currency pairs and 26,000+ assets (in partnership with Interactive Brokers)
  • No inactivity fees

BlackBull Markets ECN Institutional

  • Commission-based account with spreads from 0.0 pips for a commission of $3.00 per standard round lot
  • $20,000 minimum deposit requirement
  • MT4/MT5 trading platforms upgraded with the Autochartist plugin
  • Nine deposit and account base currencies
  • Maximum Forex leverage of 1:500 with negative balance protection
  • VPS hosting (NYC Servers and BeeksFX)
  • API trading
  • Full support for algorithmic and copy trading
  • Access to the BlackBull Social, ZuluTrade, Myfxbook Autotrade, and TradingView
  • Swap-free Islamic account
  • Minimum trading volume of 0.1 lots, ECN liquidity, and low-latency trading
  • STP/ECN/NDD order processing
  • Choice of Equinix servers (New York (NY4), London (LD5), and Tokyo (TY3))
  • Customized MAM/PAMM platform
  • 24/7 dedicated technical support
  • Complimentary VIP access
  • 60+ currency pairs and 26,000+ assets (in partnership with Interactive Brokers)
  • No inactivity fees

BlackBull Markets Demo Account

While BlackBull Markets offers a demo account for the MT4/MT5 trading platforms, it has a 30-day time limit and comes with a $100,000 nominal balance by default. Traders must complete a quick online application to get their account details but can contact BlackBull customer support to lower their demo account balance if they wish to one close to what they plan for their live trading account.

Since demo accounts serve algorithmic traders to bug-fix trading solutions, for seasoned traders to test and compare trading strategies, and for beginners to evaluate copy trading signal providers, the 30-day time limit might be disappointing for some, but it is enough for potential clients to evaluate the feel of the broker and how its platforms work. Traders might ask customer support at BlackBull Markets for an extension.

Demo trading will mirror the trading platform and functionality of live trading accounts but lacks exposure to full trading psychology. Demo trading accounts can also create unrealistic trading expectations and promote false trading behavior. Beginners should not consider demo trading as a full simulation tool, and instead consider completing their education by opening a BlackBull Markets ECN Standard account with a small deposit.

BlackBull Markets Islamic Account

BlackBull Markets states that its swap-free Islamic accounts, available for all three BlackBull Markets account types, fully comply with Shariah law. To get an Islamic account, traders must open an MT4/MT5 trading account and request an Islamic classification. Unlike many brokers, BlackBull Markets does not substitute the absence of swap rates on leveraged overnight positions with other fees, making it a genuine Islamic account.

Brokers and Islamic traders often struggle with the required conditions that make Forex trading halal, as the ultimate answer depends on individual traders and interpretation of Islamic law in conjunction with Forex trading. Swap-free trading is necessary but is not the only requirement, and even scholars studying Islamic law have different views on the topic. Traders should contact BlackBull Markets customer support if questions remain.

Pros and Cons of BlackBull Markets Account Types

Traders should consider the pros and cons of the BlackBull Markets account types before opening an account.

Pros of BlackBull Markets Account Types
Cons of BlackBull Markets Account Types
Competitive trading costs in the commission-based accounts
Cryptocurrency deposits are not available
Superb trading technology and STP/ECN/NDD order processing
Swift account opening procedure without unnecessary data collection
Nine deposit and account base currencies and six payment processors

Bottom Line

The three BlackBull Markets account types provide traders with competitive choices. The ECN Standard account has a reasonable commission-free cost structure and no minimum deposit requirement, making it ideal for beginners to learn Forex trading. For a BlackBull minimum deposit of $2,000, active algorithmic traders and scalpers can get a cutting-edge trading environment with VPS hosting and API trading in the ECN Prime account. Demanding clients receive an industry-leading offer for $20,000 in the ECN Institutional option.

Swap-free Islamic accounts exist, and BlackBull Markets does not substitute the absence of swap rates with other fees, creating a genuine Islamic account more compliant than most with Sharia law. The lack of an inactivity fee ensures a pressure-free trading environment, and BlackBull Markets executes its account structure with traders in mind.

Broker Comparison

FAQs

How can I open a demo account at BlackBull Markets?

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BlackBull Markets has a swift online application process, and traders get their demo login details in less than 30 seconds.

How can I open a BlackBull Markets live account?

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Traders can open a BlackBull Markets live account via the hassle-free online application, which does not demand unnecessary information. Account verification is mandatory to satisfy regulatory-mandated AML/KYC requirements.

Does BlackBull Markets offer an Islamic account?

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BlackBull Markets offers a genuine Islamic account for all three of its account types and does not substitute the absence of swap rates with other fees, unlike most brokers.

Does BlackBull Markets offer a raw account?

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The ECN Institutional account offers raw spreads, while the ECN Prime features minimal mark-ups of 0.1 pips.

Does BlackBull Markets offer a bonus account?

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BlackBull Markets did not offer a bonus at the time of our review, but it maintains a quality partnership program.

Which account type is best at BlackBull Markets?

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The ECN Institutional account offers the lowest trading costs, but the ECN Prime option is more accessible with a competitive pricing environment.

DailyForex.com Team
About DailyForex.com Team
The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.