BlackBull Markets Minimum Deposit Editor’s Verdict
The BlackBull Markets minimum deposit is $0 for the commission-free ECN Standard account, $2,000 for the ECN Prime alternative, and $20,000 for the ECN Institutional option.
The BlackBull Markets account types, and minimum deposit requirements, are:
- ECN Standard (BlackBull Markets minimum deposit of $0, market maker account)
- ECN Prime (BlackBull Markets minimum deposit of $2,000, ECN account)
- ECN Institutional (BlackBull Markets minimum deposit of $20,000, ECN account)
BlackBull Markets Minimum Deposit Amounts
MinimumDeposit | BlackBull Markets | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Commission-Free | $0 | $0 | $1 | $100 | $100 |
Commission-Based | $2,000 | $0 | $1 | $100 | $100 |
The commission-free ECN Standard account features a BlackBull Markets minimum deposit of $0, and the pricing environment is reasonable, with minimum spreads of 0.8 pips or $8.00 per 1.0 standard lot. Traders get the core MT4/MT5 trading platforms upgraded with the Autochartist plugin and can connect to the active TradingView community.
For a BlackBull Markets minimum deposit of $2,000, traders get the competitive ECN Prime account. It features lower trading costs with spreads from 0.1 pips for a commission of $6.00 for total trading fees of $7.00 per 1.0 standard lot.
BlackBull Markets shines with its ECN Institutional account. This account’s minimum deposit is $20,000, but the pricing environment ranks among the cheapest industry-wide, with raw spreads from 0.0 pips for a commission of $3.00 per 1.0 standard round lot.
While no minimum deposit requirement exists for the commission-free account, the commission-based alternative requires an above-average deposit. The institutional one comes in at the low end of the spectrum. Overall, BlackBull Markets remains highly competitive and delivers an above-average trading environment for its deposit requirements.
Traders should look past deposit requirements and focus on how much capital they require to execute their trading strategy.
The pros & cons of the BlackBull Markets minimum deposit
Pros of the BlackBull Markets minimum deposit | Cons of the BlackBull Markets minimum deposit |
|---|---|
Trustworthy and well-regulated broker with a clean operational record | The BlackBull Markets minimum deposit is above average but reasonable |
Near-instant funding and segregation of client deposits | Cryptocurrency deposits are unavailable |
No internal deposit fees, but third-party costs may apply | |
Nine deposit currencies exist |
BlackBull Markets Deposit Fees and Deposit Methods
BlackBull Markets does not levy internal fees on deposits. Some deposit methods, for example, bank wires, face third-party processing costs, which BlackBull Markets does not control.
Traders can use a range of six payment processors at BlackBull Markets, but not all may be available to every trader, depending on their geographic location. All traders have access to bank wires and credit/debit card transfers. Processing times and fees vary between payment processors, and currency conversion fees exist. Regrettably, cryptocurrency deposits are unavailable, but the absence of a BlackBull Markets minimum deposit for its ECN Standard account makes it extremely accessible.
Since withdrawals must follow the deposit path, traders should carefully evaluate their payment processors and all applicable deposit and withdrawal fees to determine the most cost-effective method. Traders may also contact the BlackBull Markets support team to inquire about follow-on deposits for the ECN Prime and ECN Institutional accounts, which might be less than the BlackBull Markets minimum deposit to open the accounts.
BlackBull Markets deposit methods vs. similar brokers
DepositMethods | BlackBull Markets | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Bank wires | Yes | Yes | Yes | Yes | Yes |
Credit/debitcards | Yes | Yes | Yes | Yes | Yes |
Skrill | Yes | Yes | Yes | Yes | Yes |
WebMoney | No | No | Yes | Yes | No |
ChinaUnionPay | Yes | Yes | No | Yes | No |
PerfectMoney | No | No | Yes | No | No |
Othere-wallets | Yes | Yes | Yes | Yes | Yes |
LocalizedMethods | No | Yes | Yes | No | No |
Crypto-currencies | No | Yes | Yes | No | No |
Noteworthy:
- Processing times for most payment processors at BlackBull Markets are near instantaneous.
- Bank wires can take between one and three business days to process.
BlackBull Markets Deposit Currencies
It is essential for traders to understand the difference between deposit currencies and account base currencies, as they often differ. The former refers to currencies available for deposits via payment processors, while the latter are currencies available as the base currency for trading accounts. BlackBull Markets is a rare broker offering the same nine currencies for each. Traders will pay a currency conversion fee on each transaction that differs from the account base currency.
BlackBull Markets supports the following account base currencies:
- US Dollar
- Euro
- Great British Pound
- Australian Dollar
- New Zealand Dollar
- Singapore Dollar
- Canadian Dollar
- Japanese Yen
- South African Rand
BlackBull Markets supports the following deposit currencies:
- US Dollar
- Euro
- Great British Pound
- Australian Dollar
- New Zealand Dollar
- Singapore Dollar
- Canadian Dollar
- Japanese Yen
- South African Rand
Since 80%+ of all Forex transactions involve the US Dollar, most traders prefer it as their account base currency, as it limits currency conversion fees. Another option for traders to decrease currency conversion costs is a multi-currency account via an online or brick-and-mortar bank. It allows traders to deposit and withdraw in their desired currency. Traders also benefit from lower transaction fees, conversion costs, and exchange rates versus online payment processors.
BlackBull Markets trading account currencies vs. similar brokers
AccountCurrencies | BlackBull Markets | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
US Dollar | Yes | Yes | Yes | Yes | Yes |
Euro | Yes | Yes | Yes | Yes | Yes |
British Pound | Yes | Yes | No | Yes | Yes |
Swiss Franc | No | Yes | No | No | Yes |
AustralianDollar | Yes | Yes | No | No | No |
Others | Yes | Yes | Yes | No | Yes |
Total | 9 | 10 | 3 | 3 | 10 |
Steps for Sending the BlackBull Markets Minimum Deposit H2
Traders must open a BlackBull Markets trading account and verify it. Account verification is mandatory, and stipulated by regulators, to comply with AML/KYC requirements. Only verified accounts may request withdrawals, and most traders will pass verification after sending a copy of their government-issued ID and one proof of residency document.
Here is how Forex traders can send their BlackBull Markets minimum deposit:
1. Before sending the BlackBull Markets minimum deposit, traders must open their BlackBull Markets trading account. A five-step online application process on-boards new accounts, which includes account funding. New clients may use their Facebook or Google IDs to begin the registration process, and BlackBull Markets will send a confirmation e-mail with login details following successful account registration.
2. Traders must verify their trading account by sending a copy of a government-issued ID and one proof of residency document, which is mandatory and a requirement to withdraw funds.
3. The secure BlackBull Markets client portal handles all financial transactions. After traders log into their client portal, clicking on Make a Deposit, located in the left sidebar, directs traders to the deposit screen. All available deposit methods remain listed, and traders can select their preferred choice. Following the on-screen prompts, including their preferred deposit amount, will complete the deposit process. Some third-party payment processors will redirect to their page and require a login and deposit confirmation.
4. Most online payment processors have instant processing times, and bank wires can take up to three business days. BlackBull Markets will send a confirmation e-mail to clients once it receives a deposit and credits the trading account. Payment processors also list the transaction in the payment history and send a confirmation message.
For additional, up-to-date information about Blackbull Markets, read our in-depth broker review. No, BlackBull Markets does not have any promotional offers. BlackBull Markets is a safe broker with regulatory oversight in New Zealand by the Financial Markets Authority and in Seychelles by the Financial Services Authority. It has a clean operational record and segregates client deposits from corporate funds. BlackBull Markets states that it aims to process each withdrawal request in under 24 hours.FAQs
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