BlackBull Markets — where it wins, where it loses
BlackBull Markets wins on no minimum deposit, platform choice. It loses on no tier-1 entity. Priced across ten round-turn EUR/USD lots it comes 14 of 17 in this field.
Column by column
The split
Two lists, no averaging. A broker that takes a column outright appears on the left of it; one that gets beaten on a column appears on the right. Nothing is scored into a single number, because a single number hides which side you actually care about.
Wins on
- no minimum deposit
- platform choice
Loses on
- no tier-1 entity
Cost per 10 lots is the EUR/USD spread cost of ten round-turn standard lots at the figure above, commission excluded. Where a broker publishes a "from" spread rather than an average, the comparison inherits that limitation — see the unconfirmed list further down.
Licensing
Which entity, which regulator, which number
Tier decides how much weight a licence carries in any safety column. Each row links to the page it was read from.
| Regulator | Number | Jurisdiction | Tier | Entity | Read from |
|---|---|---|---|---|---|
| FMA New Zealand | FSP403326 | New Zealand | Tier 2 | Black Bull Group Limited | fma.govt.nz |
| FSA Seychelles | SD045 | Seychelles | Tier 3 | BlackBull Group Limited (Seychelles) | blackbull.com |
Checkable
Facts the comparison runs on
On the record
- Before you weigh this against another broker: the ECN Standard account has no minimum deposit and quotes spreads from 0.8 pips; ECN Prime quotes from 0.0 pips.
- Worth knowing when you compare: the ECN Institutional account requires a $20,000 minimum deposit.
- Worth knowing when you compare: Non-New Zealand clients are onboarded through the Seychelles entity licensed under FSA licence SD045.
| Trading since | 2014 |
|---|---|
| Base | Auckland, New Zealand |
| Minimum to open | None |
| Leverage cap | up to 1:500 |
| EUR/USD | 0.80 pips |
| Terminals | MT4, MT5, cTrader, TradingView, BlackBull CopyTrader |
| Account tiers | ECN Standard, ECN Prime, Prime+, ECN Institutional |
| Record confidence | medium |
| Matchup-ready | yes — enough public cost data to run a head-to-head |
Excluded from the maths
Not verified
Not verified
These fields are not confirmed. They are shown as gaps, not filled in, and they do not feed any column of the matrix:
- negative balance protection is missing, so it is excluded from every comparison on this page.
- exact legal entity name for the Seychelles licence holder is missing, so it is excluded from every comparison on this page.
- minimum deposit for the ECN Prime account (sources give $2,000) is missing, so it is excluded from every comparison on this page.
Costs less
Who beats BlackBull Markets on price
Tickmill
$10.00 per 10 lots · wins on headline spread, platform choice
JustMarkets
$30.00 per 10 lots · wins on headline spread
CMC Markets
$50.00 per 10 lots · wins on headline spread, no minimum deposit, regulatory reach, platform choice
ActivTrades
$50.00 per 10 lots · wins on headline spread, no minimum deposit, platform choice
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money. Verify every figure with the broker before opening an account.