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BlackBull Markets broker review

Item: BlackBull Markets
Author: PipGap

Black Bull Group Limited · founded 2014 · HQ Auckland, New Zealand

BlackBull Markets is a New Zealand-headquartered ECN broker since 2014 regulated by FMA NZ (FSP403326) and FSA Seychelles (SD045). True ECN model with 26,000+ instruments across forex, stocks, crypto, indices, futures. Supports USDT crypto. NOT available in Pakistan or Vietnam.

70% cashback on every lot you trade at BlackBull Markets, via PipGap. Broker pays IB commission per trade — PipGap refunds 70% to you.

Payout
Estimated · auto-credited by BlackBull Markets

View cashback rates →

Key facts

Founded

2014

Headquarters

Auckland, New Zealand

Min deposit

Max leverage

1:500

EUR/USD spread

0.16 pip

XAU/USD spread

0.12 pip

IB / lot

$2.50

PipGap cashback

70%

Cashback payout

Estimated

USDT withdrawal

Yes

Withdrawal speed

1–3 days

Regulators

BlackBull Markets is regulated by:

FMA FSA

Licensing applies to the regulators above, not worldwide. Check local rules before you trade.

What we like

FMA New Zealand + FSA Seychelles regulation
$0 minimum deposit on Standard/Prime accounts
USDT + BTC + ETH crypto deposit supported
26,000+ instruments (forex + stocks + crypto + futures)
Vietnamese language support

What to watch

Does NOT serve Pakistan
No Urdu language support
Only 2 regulators (no FCA/ASIC/CySEC)
Vietnam region also restricted per TU 2026
PipGap not yet a partner — cashback rate is an estimate

How BlackBull Markets cashback works with PipGap

You sign up to BlackBull Markets through PipGap's referral link. BlackBull Markets pays an IB commission on every lot you trade, and 70% of that commission is credited directly into your BlackBull Markets account by the broker — PipGap never touches your money. PipGap is not an active IB partner with BlackBull Markets yet. Cashback math is an estimate. Your spread and commission with BlackBull Markets stay the same — cashback is purely additional.

Get 70% cashback on every BlackBull Markets trade

View cashback rates → Compare with other brokers

Disclaimer: Forex and CFD trading carries significant risk. Past performance is not indicative of future results. Broker rates, spreads, and conditions may change — verify on the broker's official site before depositing. Licensing applies to the regulators listed above, not worldwide. Some jurisdictions restrict offshore retail forex (incl. Pakistan — SECP has not licensed offshore retail forex). You are responsible for checking what's legal where you live. PipGap is a referral platform — we do not provide trading advice.