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BlackBull Markets Review Switzerland
Blackbull Markets is a global online trading forex broker founded in 2014. The company is regulated by the Financial Markets Authority of New Zealand (FMA) and the Financial Services Authority of Seychelles (FSA).Read BlackBull Markets Review Switzerland for start you’re trading.
The Blackbull markets are considered safe because New Zealand’s top-tier FMA regulates them.
Disclaimer: CFD is a complex instrument and carries a high risk of losing money quickly due to leverage. 74-89% of retail investor accounts lose money while trading CFDs. This will help if you consider how CFD works and whether you can take a high risk of losing your money.
BlackBull Markets Review Switzerland – BlackBull Markets pros and cons
BlackBull Markets has low minimum forex and CFD fees. The trading account opening is fast, fully digital, and user-friendly. The BlackBull trading experience is supported by great educational tools, including videos, texts, and a demo account.
On the negative side, BlackBull Markets has a limited product portfolio covering only CFDs and forex. Therefore, research tools are essential, and the Prime Account minimum deposit is high.
BlackBull Markets has low minimum forex and CFD trading fees and no deposit fees. On the other hand, withdrawal carries a charge.
BlackBull Markets in Switzerland trading fees
Trading fees at BlackBull Markets are low. However, there are different pricing structures for the other accounts. In this BlackBull Markets Review Switzerland, we tested the Prime Account, the most famous account type.
Everyone knows it’s hard to compare trading fees for forex brokers. So how should traders approach the problem of making their fees clear and comparable? First, Traders compare BlackBull Markets Brokers in Switzerland by calculating all the trade fees for selected products.
Check out the leading Forex brokers in Switzerland and explore their services.
We select famous instruments in each asset class usually provided by forex brokers:
- Forex: EUR, USD, GBP,USD, AUD, USD, EUR, CHF, EUR, and GBP
- Stock index CFDs: SPX and EUSTX50
A typical trade means purchasing a leveraged product, holding it for one week, and selling it. For volume, we select a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:
- 30:1 for forex
- 20:1 for stock index CFDs
The benchmark fees include all brokers’ spreads, commissions, and financing costs. So let’s see the verdict for The BlackBull Markets fees.
BlackBull Markets Review Switzerland – Forex Trading fees
The BlackBull Markets forex fees are generally low. However, the fee is not so low as its closest competitors.
The BlackBull Markets forex benchmark fees for a $20,000.
BlackBull Markets has average non-trading fees. There is no account or deposit fee. However, withdrawal carries a price tag.
The withdrawal fee is
- $5 (or five units in any other trading account currency) per withdrawal for debit /credit cards or electronic wallets.
- $20 (or 20 units in any other trading account currency) per withdrawal for online bank transfers.
In addition, there is a minimum 5% fee if you deposit and withdraw without trading.
The account opening process at BlackBull Markets trading is fully digital, user-friendly, and fast. Our trading account was approved within a day. On the other side, the minimum Deposit is high for Prime Accounts.
BlackBull Markets Brokers provides three ECN account types that differ in pricing and minimum deposit requirements.
BlackBull Markets offers a swap-free / Islamic account that fully complies with Sharia Law. Swap-free trading accounts are offered as a variant of Standard, Prime, and Institutional Accounts.
You can also select different types of accounts based on ownership:
- Individual account – account is owned by one individual
- Joint account – The account is owned by two or more individuals
- Company account – The account is owned by a legal entity
BlackBull Markets Review Switzerland – How to open your account?
The process of opening a BlackBull Markets account is simple and completely digital. The online application takes about 10-15 minutes and our account was approved within one business day
The seven steps of account opening at BlackBull Markets:
- Select the type of account based on ownership and enter your Legal name, email address and phone number
- Enter your other personal information, such as the birth date or source of income
- Select the account type ( Standard or Prime), the account base currency, and the leverage
- Upload documents to verify your identity and address. Passport, driver’s license, national ID are accepted as proof of identity, while bank statements and utility bills are accepted as proof of residence.
- After you upload the documents, you must confirm your email address.
- You will get BlackBull trading account credentials when your account is approved.
- Lastly, login to your account.
Deposit and withdrawal
The deposit and withdrawal services of Black Bull Market are great There are several base currencies available, there are many options for withdrawing your money and there is no deposit fee. However, the broker charges a fee for the withdrawal.
If you fund your trading account in the same currency as your bank account or trade assets in the same currency as your trading account base currency, you do not have to pay any conversion fee.
A convenient way to save currency conversion fees is to open a multi-currency bank account in a digital bank. They usually offer bank accounts in a variety of currencies, including excellent exchange rates and free or cheap international bank transfers. Moreover, it only takes a few minutes on your phone to open an account.
How to withdraw money from BlackBull Markets?
- Visit the BlackBull Markets’ Swiss Traders Login Portal
- Once logged in, choose ‘Withdraw Funds’ under the ‘Funding’ section
- Choose your MetaTrader account you would like to make the withdrawal from
- Enter the withdrawal amount and the online withdrawal method
- Submit your withdrawal mail request
BlackBull Markets Review Switzerland – Deposit fees and options
BlackBull Markets deposits are free of charge. Besides bank transfer, you can deposit your funds by using your credit/debit cards or the following electronic wallets:
- China UnionPay
The online banking Skrill account is a USD account. However, you can still fund with multiple currency options.
Depositing with Neteller offers multi-currency options. Available currencies: USD, EUR, AUD, GBP, CAD, JPY, and SGD
BlackBull Markets has some partnered with social trading providers. As a result, clients can follow trades made by other Swiss traders participating in BlackBull Markets’ Social Trading System directly from their trading accounts.
Two social trading providers are available:
ZuluTrade is a peer-to-peer, the social trading platform where you can simulate the trading strategies of thousands of registered currency traders in 192 countries. Using ZuluTrade’s proprietary performance appraisal algorithms and ZuluTrade’s knowledgeable community feedback, Blackbull Markets clients can customize the business according to their preferences and risk tolerance.
Myfxbook is a social trading site that allows Swiss Traders to share, analyze, track and compare their trading activities. This allows Swiss traders to set up auto-trading to follow selected Swiss Traders. A BlackBull Markets trader needs to sign up for a Myfxbook account and link it to their BlackBull Markets account.
BlackBull Markets Review Switzerland – Mobile trading platform
BlackBull Markets has a mobile trading platform. It provided by MetaTrader 4. It is well-designed and user-friendly with good search functions but lacks a more secure login.
Like the web trading platform, BlackBull Markets offers MetaTrader 4 as a mobile trading platform. MetaTrader 4 is available for iOS and Android, and we tested it on iOS. It can also be downloaded by QR code from the Google Play and App Store.
After you download the MT4 mobile platform, you have to access the BlackBull Markets-Live server.
Like web trading platforms, you can choose from many languages. However, changing the language on Android devices is a little difficult: you can only do this by changing the default language on your mobile.
Login and security
BlackBull Markets provides only a one-step login. A two-step authentication would be more secure.
The search functions are OK. For example, you can find the assets listed by category. However, we missed the general search function where you can manually type the name of the asset.
You can use the basic simple order types, but you will not find very mutual orders like ‘one cancels the other.
The following order types are available:
If you are not user friendly with order types, watch this BlackBull Markets Review.
There are order time limits you can also use:
- Good ’til canceled (GTC)
- Good ’til Time (GTT)
BlackBull Markets Review Switzerland – Alerts and notifications
You cannot set alerts and notifications on the MetaTrader web trading platform available at BlackBull Markets. This feature is only available on desktop trading platforms.
Portfolio and fee reports
BlackBull Markets has a clear portfolio and fee reports. You can see your profit-loss balance and the commissions you paid. These trading reports can be accessed under the ‘History’ tab, but we didn’t find a way to download them.
BlackBull Markets has a great phone, email, and live chat support. However, on the negative side, customer support is not available 24/7.
You can contact BlackBull Markets via:
- live chat
BlackBull Markets has excellent live chat support. It is fast, and we always receive relevant responses. Phone support is also quick and helpful.
Email address support speed varied, but the answers were clear and contained all the necessary information.
We missed 24/7 hour availability, as support is only 24/5.
We recommend BlackBull Markets for forex traders who prefer the metatrader platform for low fees.
Below you will find links to all aspects of the BlackBull Market in this comprehensive collection
How to start BlackBull Markets account?
Look no further than our assessment of opening a Blackbull Markets account.
How’s their trading app?
Here are our expert opinions after checking out the Blackbull Markets trading app.
Is BlackBull Markets Legit or scam?
BlackBull Markets has legit features.
Are you searching for commission and fees data?
We collected them in The BlackBull Markets commission and fees.
How do you withdraw money from BlackBull Markets?
We tested it and collected options and costs on how to raise money in the BlackBull market.