Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

BlackBull Review Summary in 10 Points
Founded	2014
Registered Country/Region	Auckland, New Zealand
Regulation	FMA
Market Instruments	forex, energy, indices, cryptocurrencies, equities and metals
Demo Account	Available
Leverage	1:500
EUR/USD Spread	From 0.0 pips
Trading Platforms	TradingView, MT4, MT5, BlackBull Trader and BlackBull Shares
Minimum deposit	$0
Customer Support	24/7 live chat, phone, email

What is BlackBull？

BlackBull is an STP (Straight Through Processing) forex broker that provides online trading services to retail and institutional clients. The company was founded in 2014 and is headquartered in Auckland, New Zealand. BlackBull is regulated by the Financial Markets Authority (FMA) of New Zealand and offers over 26,000 tradable instruments including forex, energy, indices, cryptocurrencies, equities, and metals. The broker provides clients with multiple trading platforms such as MetaTrader 4/5 and various trading tools. The company also provides educational resources to assist traders in their trading journey.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

BlackBull appears to be a reliable and well-regulated broker that offers a wide range of trading instruments, platforms, and educational resources. The broker's emphasis on security and transparency, such as offering segregated accounts and holding funds in Tier 1 New Zealand banks, is also a positive aspect.

However, there have been some negative reviews regarding difficulties in withdrawing funds and claims of the broker being a scam, which is a cause for concern.

Pros	Cons
• Regulated by FMA	• Negative reviews from clients regarding withdrawal issues
• Wide range of tradable instruments	• Limited range of payment options
• Demo accounts available
• Multiple trading platforms and tools
• No minimum deposit requirement
• Rich educational resources

It's important to note that this is just a general overview of the pros and cons, and individual experiences may vary.

BlackBull Alternative Brokers

There are many alternative brokers to BlackBull depending on the specific needs and preferences of the trader. Some popular options include:

• UFX - provides a user-friendly trading platform and a wide range of educational materials, but there are some concerns about its regulation and customer service.

• Valutrades - offers competitive spreads and multiple account types, but its product offerings are limited and its customer service could be improved.

• Z.com Trade - offers low spreads and no deposit or withdrawal fees, but its product offerings are limited and it is only regulated in one jurisdiction.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is BlackBull Safe or Scam？

It's difficult to make a definitive determination on whether BlackBull is safe or a scam as there is no clear consensus on the matter. While the broker is regulated by the Financial Markets Authority and claims to hold client funds in safe, Tier 1 New Zealand-based banks with segregated accounts, the negative reviews from some clients who report issues with withdrawing their funds raise concerns. It's important for individuals to conduct their own research, carefully evaluate the broker's features and services, and exercise caution when investing their money.

Market Instruments

BlackBull offers a diverse range of 26,000+ financial instruments across various asset classes, including forex, energy, indices, cryptocurrencies, equities, and metals. Traders have access to a wide range of currency pairs, including majors, minors, and exotics, and can also trade popular cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Additionally, the broker provides access to a variety of equity CFDs, including those from major markets like the US, Europe, and Asia. Traders can also trade popular indices like major US and the NASDAQ, as well as energy products like crude oil and natural gas. Lastly, BlackBull provides access to precious metals like gold and silver, which are often used as safe-haven assets during times of market volatility. Therefore, both beginners and experienced traders can find what they want to trade on BlackBull.

Accounts

Demo Account: BlackBull provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: BlackBull offers a total of 3 account types: ECN Standard, ECN Prime and ECN Institutional. The minimum deposit to open an account is $0, $2,000 and $20,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, the ECN Standard account will be the most suitable option for you.

Leverage

BlackBull offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

Spreads & Commissions

BlackBull spreads and commissions depend on the account type. We can see that the spread starts from 0.8 pips on the ECN Standard account, from 0.1 pips on the ECN Prime account, while only the ECN Institutional account can enjoy raw spreads from 0.0 pips.

There is no commission for the ECN Standard account, a commission of 6 USD per lot for the ECN Prime account and 4 USD per lot for the ECN Institutional account.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker	EUR/USD Spread	Commission
BlackBull	0.8 pips	No commission (Standard)
UFX	2.0 pips	No commission
Valutrades	0.5 pips	$7 per lot round turn (ECN Pro)
Z.com Trade	0.5 pips	No commission (Standard)

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

As for the trading platform, BlackBull provides its clients with many options. There are public platforms including TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5), BlackBull Trader, and BlackBull Shares.

TradingView is a popular charting and social trading platform that allows traders to connect with other traders, access a wide range of charting tools, and share trading ideas. MT4 and MT5 are well-known platforms in the forex industry, offering advanced charting capabilities, customizable indicators, and algorithmic trading options. BlackBull Trader is a proprietary platform developed by BlackBull that offers advanced charting and trading tools, while BlackBull Shares is a social trading platform that allows clients to automatically copy the trades of experienced traders.

Overall, BlackBull's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Broker	Trading Platforms
BlackBull	TradingView, MT4, MT5, BlackBull Trader, BlackBull Shares
UFX	ParagonEx, MT4, UFX Trader
Valutrades	MT4, MT5, FIX API Trading, ValuMax
Z.com Trade	MT4, MT5, Z.com Trader, Z.com Web Trader

Trading Tools

BlackBull offers Virtual Private Server (VPS) trading to its clients, which is a useful tool for traders who use automated trading strategies or expert advisors. The broker also provides access to other trading tools such as FIX API Trading, which allows traders to connect their own custom software to the BlackBull liquidity pool, as well as Autochartist, which provides market analysis and trading signals. ZuluTrade and MyFxbook are also available for those who want to follow and copy trades of other successful traders. Overall, BlackBull offers a range of trading tools to assist traders in their trading activities.

Deposits & Withdrawals

BlackBull offers its clients multiple options for depositing and withdrawing funds, including bank wire, POLi, and credit/debit card (Visa/MasterCard). The base currencies are USD and NZD.

No minimum deposit requirement. No fees for deposits and withdrawals. Most deposits are processed instantly, while withdrawals are typically processed within 24 hours.

BlackBull minimum deposit vs other brokers

	BlackBull	Most other
Minimum Deposit	$0	$100

See the deposit & withdrawal fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee
BlackBull	None	None
UFX	None	$50-$100
Valutrades	None	None
Z.com Trade	None	None

Note: The above information is subject to change and may vary based on the payment method used. It's always recommended to check with the broker for the most up-to-date and accurate fee information.

To withdraw funds from your account, visit the “My Wallet” tab found on the left-hand side of the portal.

Find the ‘WITHDRAW FUNDS’ tab along the top of this portal page. Within this tab, you will be presented with a 4-step process to request a withdrawal.

Step 1: Select the method by which you want to make a withdrawal. Only methods that you are approved to use will show up as an option to select.

Step 2: Select the wallet from which you want to make a withdrawal. Please note: Each withdrawal request is restricted to one wallet.

Step 3: Specify the amount you want to withdraw.

Step 4: Finally, confirm your request within the Secure Client Area, and the status of your request will change to pending.

Customer Service

Below are the details about the customer service.

• Languages: English, Spanish, French, Chinese, German, Portuguese, Italian, Thai language, Korean, Arabic, Vietnamese, etc.

• Service Hour: 24/7

• Live chat

• Email: support@blackbull.com

• Phone: +64 9 558 5142

• Address: BlackBull Markets, Level 20, 188 Quay Street, Auckland, 1010

• Social media: Facebook, Instagram, LinkedIn, YouTube, Twitter, WhatsApp and Telegram

Overall, BlackBull's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Pros	Cons
• 24/7 live chat support	• No option for call back requests
• Multilingual support
• Social media presence for easy communication
• Quick response time to customer inquiries

Note: The information is based on online research and may be subject to change.

Education

A series of educational resources is available at BlackBull, such as webinars, market analysis, and trading videos that cover various topics related to trading.

The educational materials are categorized based on the clients level of experience, with Forex Beginner, Forex Intermediate, and Forex Advanced categories. The educational articles cover a wide range of topics, from the basics of trading to advanced strategies and technical analysis. These resources are designed to help traders develop a better understanding of the markets and improve their trading skills, which can ultimately lead to more successful trades.

User Exposure on WikiFX

On our website, you can see that some users have reported unable to withdraw and scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

Based on the information provided, BlackBull appears to be a well-regulated broker that offers a wide range of tradable instruments across multiple asset classes, as well as a variety of trading platforms and tools. The broker's educational resources and customer service are also noteworthy.

However, there are some negative reviews from clients regarding difficulty with withdrawals and accusations of being a scam platform, so traders should proceed with caution and do their own research before investing with BlackBull.

Frequently Asked Questions (FAQs)

Q 1:	Is BlackBull regulated？
A 1:	Yes. It is regulated by Financial Markets Authority(FMA) in New Zealand.

Q 2:	Does BlackBull offer demo accounts？
A 2:	Yes.

Q 3:	How much leverage does this broker offer？
A 3:	The maximum leverage of BlackBull is 1:500. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.

Q 4:	Does this broker offer copy trading or social trading？
A 4:	Yes. BlackBull offers both of them.

Q 5:	Does BlackBull offer the industry-standard MT4 & MT5？
A 5:	Yes. It supports TradingView, MT4, MT5, BlackBull Trader and BlackBull Shares.

Q 6:	What is the minimum deposit for BlackBull？
A 6:	There is no minimum initial deposit requirement.

Q 7:	Is BlackBull a good broker for beginners？
A 7:	Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Feature	Information
Registered Country/Region	Vanuatu
Found	2018
Regulation	Suspicious clone
Market Instrument	Gold, oil, Silver, forex and indices
Account Type	Cent, Standard, Standard Bonus and ECN
Demo Account	yes
Maximum Leverage	1:2000
Spread (EUR/USD)	Above 2 pips
Commission	Vary on the account type
Trading Platform	MT4 for Windows, MacOS, Android and Web
Minimum Deposit	$15
Deposit & Withdrawal Method	Local Banks Transfer, Neteller and Skrill

Overview of GMI Edge

Founded in 2018, GMI Edge is an offshore trading broker that provides online trading via MetaTrader4 (MT4) on a variety of different asset classes including forex, indices, precious metals, energies and CFDs. GMI Edge is the trading name of Global Prime Limited, a regulated and licensed dealer in securities by the Vanuatu Financial Services Commission (VFSC, suspicious clone), with regulatory license number: 14647. GMI Edge is part of the GMI Group of companies. The GMI brand was established in 2009.

Traders can access leverage ratios ranging from 1:500 to 1:2000, depending on the account type. However, explicit information about spreads is not readily available on the GMI Edge website. The broker offers the popular MetaTrader 4 (MT4) trading platform, which allows traders to customize their strategies, utilize expert advisors, and access a wide range of analytical tools. GMI Edge also provides the Multi-Account Manager (MAM) platform for money managers to trade multiple accounts.

Deposits and withdrawals can be made through various methods, including local bank transfers, Neteller, and Skrill. The minimum deposit requirement varies based on the chosen method. GMI Edge has a mobile app for convenient account management and trading on the go. However, customer support contact information is limited to email and live chat, with no disclosed telephone numbers or company address.

Considering the lack of regulatory oversight and transparency, it is advisable for traders to approach GMI Edge with caution and consider alternative brokers with a solid regulatory status and more transparent operations.

Here is the home page of this brokers official site:

Pros and Cons

GMI Edge has both advantages and disadvantages that traders should consider. One of the pros is the availability of a wide range of market instruments, including commodities, major currency pairs, and indices, providing traders with diverse trading opportunities. Additionally, the broker offers different types of trading accounts with varying leverage options, catering to the individual preferences and risk tolerance of traders. The provision of the popular MetaTrader 4 (MT4) platform and the additional Multi-Account Manager (MAM) platform for money managers enhance the trading experience. Furthermore, GMI Edge provides a mobile app for convenient account management and trading on the go.

On the downside, GMI Edge lacks proper regulatory oversight, as it is not regulated by a recognized financial regulatory authority. The claimed regulatory license from the Vanuatu Financial Services Commission (VFSC) is suspicious and not considered valid, which raises concerns about the level of investor protection and oversight provided by the broker. Moreover, the broker does not disclose explicit information about spreads, which makes it difficult for traders to assess the trading costs upfront. Limited customer support options, with only email and live chat available and no disclosed telephone numbers or company address, can also be a drawback for some traders.

Pros	Cons
Wide range of market instruments	Lack of proper regulatory oversight
Different types of trading accounts	Suspicious and questionable regulatory license
Variety of leverage options	Lack of transparency regarding spreads
Availability of MetaTrader 4 (MT4) platform	Limited customer support options
Additional Multi-Account Manager (MAM) platform	No disclosed telephone numbers or company address
Mobile app for account management

Is GMI Edge Legit？

GMI Edge is not regulated by a recognized financial regulatory authority. The claimed regulation by the Vanuatu Financial Services Commission (VFSC) with license number 14647 is suspected to be a clone and is not considered valid. The VFSC is an offshore regulatory body, and trading with an unregulated broker carries significant risks. It is important to note that unregulated brokers may not provide the same level of investor protection and oversight as regulated brokers. Therefore, it is advisable to exercise caution and consider alternative regulated brokers with a solid regulatory status when choosing a trading partner.

Market Instruments

GMI Edge offers a selection of market instruments for trading. These instruments include:

1. Gold, Oil, Silver: Traders have the opportunity to trade in commodities such as Gold, Oil, and Silver. These instruments are available for trading 23 hours a day, and GMI Edge aims to provide competitive costs in this regard.

2. Forex: GMI Edge enables traders to participate in the foreign exchange market. Major currency pairs such as the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Australian Dollar, and Canadian Dollar are available for trading. GMI Edge offers high leverage and the option of Swap Free accounts.

3. Indices: GMI Edge allows traders to access global financial markets through Contracts for Difference (CFDs) on various indices. Some of the indices available for trading include Dow Jones, NASDAQ, S&P, FTSE, DAX, CAC, NIKKEI, Hang Seng, and China A50.

Pros	Cons
Wide selection of commodities, including Gold, Oil, and Silver	Lack of transparency regarding trading costs
Availability of major currency pairs for forex trading	Limited information about spreads
Access to global financial markets through various indices
Opportunity to trade 23 hours a day

Account Types

GMI Edge offers four different types of trading accounts: ECN, Cent, Standard, and Standard Bonus. Each account type has its own minimum deposit requirement, contract size, leverage options, and other features.

ECN ACCOUNT

The ECN account requires a minimum deposit of $100 and offers leverage up to 1:500. It has a commission fee of $4 per lot and allows for a maximum order size of 500 lots on MT4 and 1,000 lots on GMI Edge. The ECN account does not offer a swap-free option.

CENT ACCOUNT

The Cent account has a minimum deposit requirement of $15 and provides leverage up to 1:1000. It does not charge any commission and allows a maximum order size of 200 lots on MT4. The Cent account also offers a swap-free option.

STANDARD ACCOUNT

The Standard account requires a minimum deposit of $25 and offers leverage up to 1:2000. It does not charge any commission and allows a maximum order size of 500 lots on MT4 and 1,000 lots on GMI Edge. The Standard account does not provide a swap-free option.

STANDARD BONUS ACCOUNT

The Standard Bonus account also requires a minimum deposit of $25 and provides leverage up to 1:2000. It does not charge any commission and allows a maximum order size of 500 lots on MT4. The Standard Bonus account does not offer a swap-free option.

Traders should carefully consider their trading preferences and risk tolerance when choosing the most suitable account type for their needs.

Pros	Cons
Multiple account options with varying features	Lack of a dedicated swap-free option for all account types
Different leverage options to suit individual preferences	Commission fee of $4 per lot for ECN account
Low minimum deposit requirement for Cent account	Limited maximum order size for Cent account (200 lots)
No commission charges for Standard and Standard Bonus accounts	Lack of swap-free option for Standard and Standard Bonus accounts
High leverage of up to 1:2000 available for Standard and Standard Bonus accounts	Limited maximum order size for Standard and Standard Bonus accounts (500 lots on MT4 and 1,000 lots on GMI Edge)
Variety of account types cater to different risk tolerances and trading preferences

Leverage

The specified leverage for different account types at GMI Edge varies between 1:500 and 1:2000. Clients on the Cent account can experience leverage of 1:1000, the Standard and Standard Bonus accounts can enjoy the maximum leverage of 1:2000, while the ECN accounts have a leverage ratio of 1:500.

Keep in mind that using leverage ratios that high is very dangerous, especially for inexperienced traders. Margin trading is risky, so make sure you understand how leverage works before you lose everything.

Spreads & Commissions

Unlike most decent brokers who present their pricing and trading conditions, GMI Edge has not disclosed its spreads on the website. So, we had to register a demo account to see the trading costs with this broker. The benchmark EUR/USD spread of GMI Edge is well above 2 pips, which is not competitive pricing.

As for the commission, there is no commission on the Cent, Standard and Standard Bonus accounts, while 4 per lot on the ECN account.

Trading Platform

GMI Edge provides its traders with the popular MetaTrader 4 (MT4) trading platform. This widely recognized platform is available for all types of GMI Edge accounts. Traders can take advantage of the features and functionality offered by MT4 to enhance their trading experience.

MT4

With MT4, traders have the option to create their own algorithms or utilize expert advisors (EAs) to automate their trades. This allows for customized trading strategies and the ability to follow other traders. Traders can seamlessly connect to the trading platform through the GMI Edge app, ensuring a smooth trading experience across different devices. The GMI Edge app also provides a convenient way to fund trading accounts that use MT4.

MT4 offers a comprehensive range of analytical tools that traders can utilize to analyze various aspects of the markets they trade. These tools enable traders to perform in-depth market analysis and make informed trading decisions.

Multi-Account Manager (MAM) platform.

In addition to MT4, GMI Edge also offers the Multi-Account Manager (MAM) platform. This platform is designed for money managers who wish to trade multiple accounts with ease. With MAM, money managers can execute trades across multiple accounts with just one click. The platform also allows for automated performance fees billing and offers trade allocation options based on lot size, equity, or balance.

GMI Edge mobile app

To further enhance accessibility and convenience, GMI Edge has developed the GMI Edge mobile app. This app allows traders to access their trading accounts anytime and anywhere. Traders can trade various instruments including forex, gold, silver, and indices, among others, using the app. The GMI Edge app also offers easy ways to deposit, withdraw, and transfer funds, providing traders with comprehensive account management capabilities in one place.

Pros	Cons
Availability of popular MetaTrader 4 (MT4) platform	Potential learning curve for beginners
Ability to create custom algorithms and use expert advisors (EAs)	Limited to MT4 platform, no alternative platforms offered
Seamless trading experience across different devices through GMI Edge app	Mobile app may have limited functionality compared to desktop version
Comprehensive range of analytical tools for market analysis	Lack of advanced features compared to other platforms
Multi-Account Manager (MAM) platform for easy management of multiple accounts	Limited information available on MAM platform features and capabilities

Deposit & Withdrawal

GMI Edge provides various options for depositing and withdrawing funds from your trading account. These options include Local Banks Transfer, Neteller, and Skrill. The minimum initial deposit requirement is $10 for Neteller and Skrill, while it is $15 for Local Banks Transfer.

The deposit processing time is typically instant, allowing you to quickly start trading after funding your account.

For withdrawals, the minimum withdrawal amount is 50 MYR for bank transfers, and the processing time is between 8am to 6pm daily. There is a 4% fee for withdrawals via Neteller and Skrill, with a minimum withdrawal amount of $10. Withdrawals made through these methods are also processed instantly.

Pros	Cons
Various deposit and withdrawal options	Minimum withdrawal amount for bank transfers
Instant deposit processing time	4% fee for withdrawals via Neteller and Skrill
Minimum initial deposit requirement of $10 for Neteller and Skrill	Withdrawal processing time limited to specific hours
Instant withdrawals via Neteller and Skrill
Minimum withdrawal amount of $10 for Neteller and Skrill

GMI Edge provides customer support through various channels. Traders can reach out to their customer support team via email at cs.global@gmimarkets.com. Additionally, a live chat option is available for immediate assistance. For those who prefer to send a direct message, an online contact form is provided. However, it is worth noting that GMI Edge does not disclose additional contact information such as telephone numbers or a company address, which is commonly shared by more transparent brokers.

Conclusion

In conclusion, GMI Edge is an unregulated broker with a suspicious regulatory license and is not considered a legitimate trading option. Trading with an unregulated broker carries significant risks, as they may lack investor protection and oversight. Although GMI Edge offers a variety of market instruments and different types of trading accounts with varying leverage options, their lack of transparency regarding spreads and trading conditions is a disadvantage. Additionally, the absence of a recognized financial regulatory authority and limited customer support contact information further raise concerns. Traders are advised to exercise caution and consider alternative regulated brokers with a solid regulatory status and transparent practices when choosing a trading partner.

Frequently Asked Questions (FAQs)

Q 1:	Is GMI Edge regulated？
A 1:	No. GMI Edge holds a suspicious clone Vanuatu Financial Services Commission (VFSC) license.

Q 2:	At GMI Edge, are there any regional restrictions for traders？
A 2:	Yes. GMI Edge does not accept clients from the United Kingdom and the United States among other countries.

Q 3:	Does GMI Edge offer demo accounts？
A 3:	Yes.

Q 4:	Does GMI Edge offer the industry-standard MT4 & MT5？
A 4:	Yes. GMI Edge supports MT4.

Q 5:	What is the minimum deposit for GMI Edge？
A 5:	The minimum initial deposit to open an account is $15.

Q 6:	Is GMI Edgea good broker for beginners？
A 6:	No. GMI Edge is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations. Take care!