BlackBull Markets Fees Editor’s Verdict
Traders often dismiss minor differences in the pricing environment of brokers, but even a 0.1 pip spread reduction can yield significant cost savings, especially over time and trading volume. Therefore, trading fees rank among the primary factors determining which broker to pick. They directly impact profitability, and traders can evaluate which strategies the cost structure favors and which ones the broker passively discourages.
Our comprehensive BlackBull Markets fees review provides traders with a complete breakdown of trading and non-trading costs. The two commission-based trading accounts offer competitive pricing environments. The commission-free alternative is reasonably priced, and the lack of a BlackBull Markets minimum deposit requirement makes it ideal for beginner traders to learn how to trade. Read on to find out why BlackBull Markets remains a primary choice for demanding traders with our detailed BlackBull Markets fees analysis.
Overview of BlackBull Markets Fees and Charges
BlackBull Markets maintains a highly competitive trading environment for algorithmic traders, scalpers, and high-frequency strategies amid innovative technology, superb order execution, high leverage, negative balance protection, VPS hosting, API trading, and competitive trading fees.
The commission-free ECN Standard account has no BlackBull Markets minimum deposit requirement and is ideal for beginners and casual traders with low volumes to learn how to trade. The ECN Prime and ECN Institutional accounts are commission-based and require minimum deposits of $2,000 and $20,000, respectively, but feature competitive costs.
Here is a snapshot of BlackBull Markets fees:
Fee | Type of Fee | Applicable at BlackBull Markets |
|---|---|---|
Spreads | Trading fee | Yes (minimum of 0.0 pips to 0.8 pips) |
Commission | Trading fee | Yes ($3.00 - $6.00 per standard lot) |
Swap rates on leveraged overnight positions | Trading fee | Yes (positive swap rates exist) |
Live Price Feed / Stamp Duty/ Settlement Fee | Trading fee | Yes (dependent on equity exchanges) |
Deposit Fee | Non-trading fee | No (third-party costs may apply) |
Withdrawal Fee | Non-trading fee | Yes (applies to all payment options) |
Inactivity Fee | Non-trading fee | No (BlackBull Markets may archive accounts) |
Account Fee | Non-trading fee | No (BlackBull Markets offers accounts for free) |
Currency Conversion Fee | Trading fee and non-trading fee | Yes (if applicable) |
BlackBull Markets Fees, Spreads, and Commission Explained
Traders at BlackBull Markets get a notably lower pricing environment than that offered by full-commission brick-and-mortar brokers.
At the core of the global financial system is the Forex market. With daily turnover nearing $7 trillion and thousands of new traders joining the active trading community, brokers rely on scalability and technology to increase their market share, where low trading costs remain essential.
Despite cheaper costs, traders must understand the fee structure at BlackBull Markets. Fees fall into two categories: trading and non-trading fees. It will help traders understand what they must pay, why they must pay it, and how it compares to other brokers.
Trading fees consist of:
- Spreads (the difference between the bid and the ask price of an asset)
- Commissions (volume-and-account dependent)
- Swap rates (charged on leveraged overnight positions)
- Currency conversion fee (applicable each time the currency of the asset differs from the account base currency)
Non-trading fees are:
- Deposit fees (not applicable at BlackBull Markets)
- Withdrawal fees ($5 for each withdrawal request at BlackBull Markets)
- Inactivity fee (not applicable at BlackBull Markets)
- Currency conversion fees (for deposits and withdrawals in currencies that differ from the account base currency)
BlackBull Markets Trading Fees
The major costs for most traders are trading fees, which apply to each transaction. The commission-free ECN Standard account at BlackBull Markets features higher trading costs than its commission-based counterparts, ECN Prime and ECN Institutional.
Here is the difference in minimum spreads and commissions at BlackBull Markets:
Account | Minimum Spreads | Minimum Commission | Total BlackBull Markets Fees |
|---|---|---|---|
ECN Standard | 0.8 pips | $0.00 | $8.00 per standard round lot |
ECN Prime | 0.1 pips | $6.00 | $7.00 per standard round lot |
ECN Institutional | 0.0 pips | $3.00 | $3.00 per standard round lot |
Swap rates on leveraged overnight positions remain one of the most ignored trading costs, but it can become the most significant trading fee for long-term trading strategies. Traders should consider them when evaluating total trading costs.
Note that swap rates, which apply to leveraged overnight positions, triple on Wednesday to account for trades kept open over the weekend. Forex traders can avoid them by closing any open positions just before the rollover cut-off time, which is typically 5pm New York time.
MT4/MT5 traders can access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.
Since Forex trading consists of currency pairs, incurring currency conversion fees is practically guaranteed. Traders can probably decrease them by trading from a US Dollar-denominated account, as the US Dollar is part of 80%+ of all daily Forex transactions.
Currency conversion fees are not fixed and depend on market conditions and the monetary policy of the involved currencies.
Equity trading at BlackBull Markets, available in partnership with Interactive Brokers, may face a series of exchange and data fees, dependent on the equity exchange.
BlackBull Markets Non-Trading Fees
Non-trading fees refer to costs traders pay separate from transactions involving buying, selling, and maintaining assets. They are less frequent but are part of the BlackBull Markets fees, and traders should know what they are to avoid confusion.
BlackBull Markets Deposit Fee
BlackBull Markets does not levy an internal deposit fee, but traders should check with their payment processor for potential third-party costs or currency conversion fees. Generally, traders making a $2,000 deposit into their BlackBull Markets account will receive $2,000.
BlackBull Markets Withdrawal Fee
Traders will pay an internal BlackBull Markets withdrawal fee of $5 or the currency equivalent for each withdrawal per payment processor used.
Below are details about the withdrawal fees for each BlackBull Markets withdrawal method:
- Bank wires - $5 or the currency equivalent
- Credit/debit cards - $5 or the currency equivalent
- Neteller - $5 or the currency equivalent
- Skrill - $5 or the currency equivalent
- FasaPay - Undisclosed
- UnionPay - Undisclosed
Traders may also face third-party withdrawal fees, which BlackBull Markets does not control. Currency conversion costs can also apply. Traders should also consider any charges from their payment processor to other sources, like their bank account or the destination of their withdrawals, such as bill payments or general consumption. It is best to compare all available options and then select the most cost-effective method.
BlackBull Markets Inactivity Fee
BlackBull Markets does not charge an inactivity fee. Therefore, it places no pressure on traders to trade. It may archive dormant accounts after a select period of inactivity, but traders can reactivate them without losing capital.
BlackBull Markets Safety and Security
BlackBull Markets has established itself as one of the safest and most secure brokers in the retail Forex industry. Headquartered in New Zealand, it has a regulatory license and oversight from the competitive and active Financial Markets Authority. It also operates a subsidiary in Seychelles, complying with the Financial Services Authority, one of the up-and-coming Forex regulators globally. BlackBull Markets has had a spotless operational record since 2014, the year it was founded.
All client deposits remain segregated, and the ANZ Bank in New Zealand is the custodian. BlackBull Markets has no access to client capital. Negative balance protection exists. This ensures clients cannot lose more than their deposit or otherwise owe additional monies to BlackBull Markets.
Read our up-to-date Blackbull Markets Review BlackBull Markets offers two commission-based trading accounts, and equity traders also pay commissions, which are lower than many competitors. BlackBull Markets maintains a competitive pricing environment, especially in its ECN Institutional account, which features ultra-low costs. The ECN Prime remains competitive, and the ECN Standard is reasonably priced. Using a multi-currency account for deposits and withdrawals can lower transaction and currency conversion fees. Using the US Dollar as an account base currency will also decrease currency conversion costs, while trading with commission-based accounts achieves the lowest overall trading fees. BlackBull Markets is transparent and has no hidden fees. Traders can find all applicable costs on the BlackBull Markets website. BlackBull Markets has fees, like any other broker, which consist of trading and non-trading fees. The overall cost structure in its commission-based trading accounts remains highly competitive.FAQs
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