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 21 of 39 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
- Founded in 2014 in Auckland, New Zealand by Michael Walker and Selwyn Loekman.
- The ECN Standard account has no minimum deposit and quotes spreads from 0.8 pips; ECN Prime quotes from 0.0 pips.
- The ECN Institutional account requires a $20,000 minimum deposit.
- 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 |
| Markets | Forex, Indices, Commodities, Metals, Shares, Crypto CFDs |
| 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
- exact legal entity name for the Seychelles licence holder
- minimum deposit for the ECN Prime account (sources give $2,000)
Costs less
Who beats BlackBull Markets on price
Tickmill
$10.00 per 10 lots · wins on headline spread, platform choice
Eightcap
$10.00 per 10 lots · wins on regulatory reach
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
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.