BlackBull Markets scores 79/100 in our review (grade B, very good), a Auckland, New Zealand-based broker regulated by FMA (New Zealand), FSA (Seychelles). It offers MetaTrader 5, so you can run Market Structure Pro on it.
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Start free trial Visit BlackBull Markets ↗| Headquarters | Auckland, New Zealand |
| Founded | 2014 |
| Regulation | FMA (New Zealand), FSA (Seychelles) |
| Platforms | MT4, MT5, cTrader, TradingView, BlackBull CopyTrader |
| MetaTrader 5 | Yes, MSP works here |
| Own platform | No |
| Account types | ECN Standard, ECN Prime, ECN Institutional |
| Min deposit | $0 |
| Typical EURUSD spread | 0.2 pips |
| Typical Gold spread | 0.12 |
| Commission | Prime ~$6/lot round turn ($3/side); Institutional ~$4 round turn; Standard commission-free |
| Execution | ECN/STP |
| Funding methods | Card, Bank transfer, Skrill, Neteller, Crypto |
| Demo account | Yes |
| Support | 24/5 |
BlackBull Markets is a New Zealand-founded (2014) multi-asset ECN broker based in Auckland. It suits active, cost-sensitive traders who want tight spreads and true ECN pricing across a very wide range of markets - forex, indices, commodities, crypto, and both share CFDs and real shares (26,000+ symbols). Zero-minimum Standard and Prime accounts make it accessible, while Prime/Institutional target higher-volume traders. On safety, BlackBull holds a real Tier-1 licence from New Zealand's FMA (Derivatives Issuer FSP403326), a meaningful positive. However, like many international CFD brokers, most retail clients are onboarded through its offshore Seychelles entity (BBG Limited, FSA SD045), which carries fewer investor protections; it does not hold FCA, ASIC or CySEC licences.
On costs and technology it is competitive: Standard is commission-free at ~1.1 pips EUR/USD, while Prime/Institutional cut spreads toward zero with ~$4-$6 round-turn commissions. Standout features are full platform choice, copy trading, real share dealing via Interactive Brokers, crypto funding, a demo account and an active IB/affiliate program. Main trade-offs: offshore onboarding for most clients, thin education, and 24/5 support.
A separate reputation score out of 100, based on genuine user reviews across the web and kept independent of the feature score above. Our read: reviews are mixed.
Professional reviews positive (4.5-4.7/5) and BlackBull holds a Tier-1 FMA New Zealand license with funds segregated at ANZ, but ForexBrokers.com assigns only 77/99 'Average Risk' citing a thin license portfolio. Material concern: retail clients routed to offshore Seychelles FSA entity (BBG Limited). No regulator fines/scam allegations verified.
Can I use Market Structure Pro with BlackBull Markets? Yes. BlackBull Markets offers MetaTrader 5, and MSP is an MT5 indicator, so it runs on any of their MT5 accounts. See the install guide.
Sources: www.forexbrokers.com · blackbull.com · brokerchooser.com · partners.blackbull.com. Figures are typical and change, so confirm on the broker's site.
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