BlackBull Markets Review
Reviewed · Last updatedBlackBull Markets is an Auckland-based broker offering CFDs on currencies and other markets, plus share, ETF and bond investing through BlackBull Invest. It is operated by Black Bull Group Limited, an FMA-licensed derivatives issuer in New Zealand, and by BBG Limited under an FSA Seychelles licence for international clients, and it does not accept clients from the US, Canada, the EU or the UK.
This review is provided for general information and does not constitute an endorsement, investment advice or a recommendation to open an account. Broker information may change after publication. Readers should verify regulatory status, product availability, fees and legal documentation through official sources before making any decision.
Who this service may not be suitable for
Leveraged products may not be suitable for readers seeking long-term investment products, readers who cannot afford to lose the money they deposit, or anyone unwilling to accept the substantial risk of loss inherent in leveraged trading. A majority of retail CFD accounts lose money.
Key facts
- Main regulation
- FMA NZ derivatives issuer licence (FSP403326), FSA Seychelles SD045
- Markets offered
- Currencies, Indices, Commodities, Share CFDs, Real shares, ETFs, Crypto, Bonds
- Regions served
- International entities
How this score was calculated
Facts recorded on 14 Sep 2026 from the broker’s official website and regulator sources, scored with our published rubric. Items we could not find on the official website count as not disclosed.
Regulation and transparency
- Strongest regulator tier: 4.0
- +0.5 licence confirmed on a regulator register
Costs and fee disclosure
- Yes: Commissions published
- Not found: Overnight (swap) rates published
- Yes: Inactivity fee disclosed
- Yes: Deposit and withdrawal fees disclosed
- Yes: Currency conversion fee disclosed
- Source: blackbull.com
Risk and consumer information
- Yes: Risk warning on homepage
- Not found: Retail loss percentage published
- Yes: Risk disclosure or KID available
- Not found: Negative balance protection stated
- Yes: Segregated client funds stated
- Yes: Legal documents public
- Source: blackbull.com
Customer support
- Yes: Live chat
- Yes: Email
- Yes: Phone
- Yes: Hours: 24/7
- Source: blackbull.com
Education and research
- Yes: Education section
- Yes: Risk education content
- Yes: Webinars or courses
- Yes: Market analysis
- Yes: Economic calendar
- Source: blackbull.com
Website and user experience
- Yes: Legal documents page
- Yes: Fees page
- Yes: Entity and licence in footer
- Source: blackbull.com
Regulatory status by region
The entity that holds an account determines the regulator, client-money rules and compensation arrangements that apply. Check the entity on the official register of the named regulator before opening an account.
| Region | Legal entity | Regulator and licence |
|---|---|---|
| International entities | Black Bull Group Limited | FMA New Zealand, licensed derivatives issuer (granted 12 August 2020), FSPR FSP403326 (source: broker disclosure) |
| International entities | BBG Limited | FSA Seychelles, Securities Dealer licence SD045 |
| International entities | Black Bull Trade Limited | NZ FSPR registration FSP1002113, not a financial licence (registration only) (source: broker disclosure) |
Research methodology
Assessed against our published framework using the broker’s public website, legal documents and regulator registers. Every broker is assessed using the same documented criteria. Full methodology →
Sources
- Regulator register: fma.govt.nz, retrieved 14 Sep 2026
- Regulator register: fsaseychelles.sc, retrieved 14 Sep 2026
- Broker legal page: blackbull.com, retrieved 14 Sep 2026
- Score evidence (costs): blackbull.com, retrieved 14 Sep 2026
- Score evidence (risk): blackbull.com, retrieved 14 Sep 2026
- Score evidence (support): blackbull.com, retrieved 14 Sep 2026
- Score evidence (education): blackbull.com, retrieved 14 Sep 2026
- Score evidence (website): blackbull.com, retrieved 14 Sep 2026
Corrections and update history
- 24 Sep 2026: Scores recalculated under methodology version 1.2 (the language checks were removed from Customer support and Website and user experience).
- 15 Sep 2026: Scores recalculated under methodology version 1.1 (six weighted categories).
- 14 Sep 2026: Category scores calculated with the published scoring rubric (methodology version 1.0) from facts recorded on the broker’s official website.
- 14 Sep 2026: Regulatory entities and licence numbers researched from official broker disclosures and regulator sources.
Spotted an error? See our Corrections Policy.
CFDs and other leveraged products carry a high risk of losing money rapidly because of leverage, and a majority of retail investor accounts lose money when trading CFDs. A high editorial score reflects disclosure and service quality. It does not make trading safe.