New ZealandRegulationFMA (NZ), FSA(SC)
Min. deposit$0
Leverage1:1 – 1:500
PlatformsMT4, MT5, cTrader, TradingView
InstrumentsForex & CFDs
Founded2014
🏛️ Which entity will open your account?
📍 Pick your country above and we'll tell you exactly which entity opens your account at BlackBull Markets.
How is this decided and how do I verify it? →Regulation by region
The entity you sign with — and your protection — changes depending on where you live.
United Kingdom
No FCAECN
No European entity; UK clients routed to Seychelles offshore, no FSCSEuropean Union
No CySECECN
No EEA license; EU retail clients routed to Seychelles offshore, no ICFUnited States
Not accepted
USA and Canada explicitly excludedAustralia
No own ASICECN
No current ASIC license; ROW routed to SeychellesRest of the world
Offshore SeychellesECN
BBG Limited (FSA Seychelles SD045) — offshore, no compensation schemeAll licenses
Every regulator where the group holds a license, with its execution model. The entity that applies to you depends on your country (see above).
Account types
ECN Standardno minimum deposit, no commission, spreads from ~0.8 pip
ECN Primespreads from 0.0 pip + commission ~$6 round-turn; API access
ECN Institutionalmin $20,000, lower commission ~$4/lot; high volume
Pros
✓Transparent operation
✓Good reputation
✓Competitive costs
Cons
✗Outside your region, offshore entity
✗Very high leverage (more risk)
Breakdown by axis
The total score (out of 100) is the sum of the 7 axes, with the same yardstick for everyone. Below each one, the rationale with its source.
Regulation: Tier-1 + offshore14/22 pts
Why: NZ FMA Derivatives Issuer (genuine) + funds at ANZ bank; global retail via Seychelles SD045 = offshore
Withdrawals / payments: Isolated complaints10/20 pts
Why: mostly clean with isolated regional delay complaints (HK/Thailand/MENA); no systemic denial
Fund safety: Segregated (no compensation)8/15 pts
Why: segregated at ANZ (tier-1 NZ bank); NO compensation scheme (NZ has none; neither does Seychelles)
Transparency: Clear10/10 pts
Why: clean record; only an FMA warning over clones impersonating it
Reputation: Strong10/10 pts
Why: founded 2014 (NZ); Trustpilot ~4.7 (~3k reviews), EA-friendly
Costs: Competitive8/8 pts
Why: Prime raw 0.0 + $6 round-turn; MT4/5/cTrader/TradingView on all accounts; min $0
Sources
Don't take our word for it — check it yourself. These are the official registries and legal pages we relied on.
🔗 FMA — Black Bull Group Limited (FSP403326)🔗 BlackBull — compliance (entities, licenses)🔗 Client Services Agreement FSA (PDF) — BBG Limited / SD045Trader reviews
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