BlackBull Markets Islamic Account

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BlackBull Markets Review

Blackbull Markets is a New Zealand-based ECN broker offering over 300 tradable instruments on the MT4 and MT5 platforms. Here we will review the broker’s client portal, covering spreads, minimum deposits, regulations, and live and demo account login process.

BlackBull Markets Details

Founded in 2014, the Black Bull Group Limited (Blackbull Markets) is licensed by the New Zealand Financial Markets Authority and the Financial Services Authority of Seychelles (FSA).

This broker is headquartered in Auckland, NZ, and has an additional support office in Kuala Lumpur, Malaysia.

The company provides 10 years of combined institutional experience in the Forex space. This Broker is a true ECN, no dealing desk brokerage that provides institutional-grade fintech services to retail clients.

Users can access the award-winning platform and additional tools, including Zulutrade and Myfxbook. In addition, institutional traders can also access Prime Services and PAMM Accounts.

Olymp Trade
  • Year Founded: 2014
  • Minimum Deposit: $100
  • Minimum Trade Lot: 0.01
  • Platforms: MT4, MT5, and Web Trader
  • Demo Account: Yes
  • Regulated – Yes

BlackBull Islamic Review – Trading Platforms

MetaTrader 4

An MT4 system is an option for many brokers and traders. The online trading platform offers near-instant execution, interactive charts, and direct market trading using prime liquidity providers.

The trading platform supports Expert Advisors (EAs) and MetaScripts, which lets you create your automated trading robot. In addition, traders can access multiple order types, dozens of pre-installed indicators and analysis tools, various chart set-ups and a market clock window.

MT4 is optimized for both Windows and Mac PCs, with a separate download link available on the Blackbull Markets website.

The online version of Meta Trader4, MetaTrader WebTrader, is also available and allows clients to access trading through any supported web browsers (Chrome, Mozilla, Firefox, etc.).

WebTrader eliminates the need to install any additional software and offers the same benefits as the desktop version, which includes collecting index and drawing tools, financial news, and live pricing and quick editing.

MetaTrader 5

The MT5 offers a faster range of processing time, hedging capabilities, improved pending order functionality, and a wide range of tools and indicators. It also has access to more than 20 deadlines, an integrated economic calendar and depth of market liquidity.

Traders can download the platform directly from the Blackbull Markets website but you need to create an account before you can start trading.

BlackBulls Markets Islamic Accounts

BlackBull Islamic Review  – Instruments

The Blackbull Markets offers more than 300 assets, including more than 60 Forex pairs, CFDs of some of the world’s most popular indices, products including oil and natural gas, and gold and silver. While having a decent product list, we like to look at cryptocurrencies and stocks.


Zero pip spreads are available in the Blackbull market but usually start at around 0.8 pip on the ECN standard account. Live spreads for EUR / USD start at 0.2 pip.

Trading is commission-free on the ECN Standard account and EC 3.00 per lot on the ECN Prime account ($ 6.00 per round turn). In ECN institutional accounts, the commission rate is subject to negotiation.

Now, Blackbull Markets takes swap fees to keep positions open overnight, which are calculated on an ongoing basis by brokers and are available on trading platforms.


A maximal of 1: 500 currency pairs and precious metals are available in the Black Bull market. For oils and indices, traders can leverage up to 1: 100. However, The margin call calculation is explained in the product release statement.

Is BlackBull Markets halal?

Mobile Trading

The MT4 trading app is also available for download on iOS and Android smartphones at no extra cost. The app is fully functional, provides complete set of trade orders, complete trade history, interactive navigator windows and charts, indicators, drawing instruments and automated trading functionality.

The online trading broker also offers the ZuluTrade mobile app, a social copy-trading platform available on iPhone, iPad and Android.

BlackBull Islamic Review  – Payment Methods

Deposits in 9 different currencies including USD, EUR, GBP, and AUD are accepted through Bank Wire, Credit Card, Neteller, Union Pay,  Skrill, and FasaPay. Here, all options except bank wire are processed instantly, which takes 1 – 3 days.

Withdrawals must be made using the same procedure you submitted earlier. The trading broker aims to process the online withdrawal within 24 hours. In addition, the base Account currency charges 5.00 for Neteller, credit cards, and Skrill, and 20.00 for the Base Account currencies for international bank transfers.

Free Demo Account Review

BlackBull Markets offers a 30-day demo simulator for up to 100,000 in virtual funds. Users can choose between Standard or Prime account and set their own leverage level up to 1: 500. A free demo account is an essential tool for examining trades and accessing real market data before realizing the real thing.

BlackBull Markets Bonuses

At the time of writing, Blackbull Market has no promotional offers. However, the traders can check the broker’s website or social media page for any future deals.


Blackbull Markets broker is incorporated and registered in New Zealand. The brokerage is registered with the Financial Services Provider Registry (FSPR) with license number FSP403326 and is a member of the Financial Services Complaints Limited (FSCL) Dispute Resolution Project.

The online broker ensures the security of traders funds, using ANZ Bank, a leading Australian bank, to separate funds and manage its operational liquidity. So overall, we are comfortable Blackbull Markets is not a scam.

Additional Features

Newcomers can access various educational resources, including MT4 videos, Forex analysis guides, and a trading glossary. There is also an unique economic calendar to keep track of market news and events.

Although the Brokers also offer free VPS services for traders who meet specific criteria, including NYC Server and BeeksFX. Also, there are 2 popular social trading platforms: Zulutrade and MyFXbook.

BlackBull Markets Accounts

There are three main types of accounts available in the Blackbull market (ECN Standard, ECN Prime and ECN Institutional), Islamic accounts for eligible clients, and Active Trader accounts. The minimum lot size on the accounts is 0.01.


Spreads start at 0.8 pip on a standard account and require a minimum deposit of $ 200. Trading on standard accounts is commission-free.


Spreads on the Prime Account are more unique, starting at 0.1 pips. Minimum deposit required is $2,000. And $ 6 commission payable per round turn.


For a minimum deposit of $ 20,000, institutional account holders can access spreads from 0.0 pips. In addition, institutional accounts come with complimentary VPS access, customizable commission structure, dedicated 24/6 support, and customized MAM / PAMM platforms.


Disadvantages of trading with this broker include:

  • US traders not accepted
  • Shares and cryptocurrencies not available
  • No negative balance protection

Trading Hours

On the other side, the default server time in MT4 is GMT + 2 (GMT + 3 DST). Forex server time is 00:00 – 24:00 Monday to Friday. For metals, trades hours are 01:00 – 24:00 Monday to Thursday and 01:00 – 23:00 Friday 7 Trading sessions are 01:00 – 24:00 for crude oil and 03:00 – 24:00 for Brent oil (Monday to Friday). Although, Specific opening times for indicators can be found in the contract specification.

BlackBull Islamic Review  – Customer Support

Traders also can contact the customer support team through several methods, including telephone, email, and 24/5 live chat.

  • Telephone – (+64) 9 558 5142
  • Office – Level 22, and 120 Albert Street, Auckland 1010, New Zealand
  • Email –


All data transmitted on Blackbull Markets platforms is encrypted with a secure SSL connection. In addition, all traders transactions are also managed within the secure client portal.

Blackbull Markets judgment

Our Blackbull Markets review reveals some good reasons to open a live account, including competitive spreads and a wide selection of these platforms and tools. In addition, we like the selection of deposit and withdrawal options. However, this would be really nice to see the negative balance protection given as an additional element of safety and control.

Accepted Countries

BlackBull Markets accepts traders from Australia, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, Thailand, United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Luxembourg, and most other countries.

Traders also can not use BlackBull Markets from United States.

BlackBull Islamic Review  – FAQ

How do traders open a live account with BlackBull Markets?

Traders can open a live account and set up their client login in just a few steps. Once they have submitted your ID verification, you’ll need to confirm your email address and wait for the approval.

How do traders open a BlackBull Markets demo account?

Traders can create a demo account by filling out a short online application form and setting custom parameters for your account. Traders will then be emailed their free demo login details.

Does Blackbull Markets Offer Any Bonus Deals?

Blackbull Markets does not provide any bonuses or promo deals at this time. See the broker’s website for all future deals.

What are the margin call and stop-out level in the Black Bull market?

BlackBull Markets does not give margin calls for your trades. The stop-out level is 50%.

Blackbull Market vs. Other Brokers

BlackBull Markets ranks high for their compliance with multiple regulators and service quality. You can trade with BlackBull Markets with Islamic Account or regular trading accounts with confidence.