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BlackBull Markets in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%85
- Round-turn cost20%95
- Safety20%0
- Payouts15%40
- Track record10%60
- Platforms10%no data
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- BBG Limited
- Founded
- 2014
- Retail leverage
- 500IN
- Round turn
- 6 USDIN
- Currencies
- Accounts in USD/EUR/GBP/JPY/AUD/NZD/SGD/CAD/ZAR; no INR base account, so deposits convert.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with BlackBull MarketsThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards India residents
- BBG Limited
- Local standing
- Offshore only; SEBI/RBI rules do not permit resident retail offshore-forex margin trading, so no lawful local authorisation exists.
- Licence as the register states it
- BBG Limited holds Seychelles FSA licence SD045; BlackBull holds no SEBI registration in India.
- Leverage for this entity
- Up to 1:500 on forex via the Seychelles entity where accepted; not capped by an Indian regulator (but offshore forex is restricted for residents).
- The firm behind it
- Founded 2014, HQ Auckland, New Zealand; ECN forex/CFD broker, FMA-licensed in NZ since 2020.
- What we hold against it
- India appears in some BlackBull exclusion disclaimers; SEBI restricts offshore forex for residents - treat as high-caution/ambiguous.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore only; SEBI/RBI rules do not permit resident retail offshore-forex margin trading, so no lawful local authorisation exists.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: ECN Standard (USD 0 min, commission-free, spreads from ~0.8 pips), ECN Prime (USD 0 min, from 0.0 pips + ~USD 6 round-turn), Institutional/Prime+ (USD 20, 000 min, USD 3/round lot). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where BlackBull Markets sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 6 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 0 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · this broker 1:500 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (5 methods · 0 local rails)
Cards, bank wire, Skrill, Neteller and crypto;
- Cards
- Bank wire
- Skrill
- Neteller
- Crypto
- Account currency
- Accounts in USD/EUR/GBP/JPY/AUD/NZD/SGD/CAD/ZAR; no INR base account, so deposits convert.
- Fee declared
- 5 of 5 methods
- Withdrawal back to
- the funding method
Where it does not serve(4 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(7 platforms)
- MT4
- MT5
- cTrader
- TradingView
- BlackBull CopyTrade
- BlackBull Invest
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 1.4 |
| MT5 | — | 1.4 |
| cTrader | — | 1.4 |
| TradingView | — | 1.4 |
| BlackBull CopyTrade | — | 1.4 |
| BlackBull Invest | — | 1.4 |
| Forex pairs | 70+ | — |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Identical for every row: Leverage 500 IN.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.7 | 801 |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(5 for and 5 against, each tied to a figure on this page)
- Round turn 6 USD on the raw + commission basis, under the India median 7
- Min deposit 0 USD, under the India median 15
- Swap-free account available
- Round-turn cost 95 of 100, its strongest of 6 scored axes
- 6 platforms: MT4, MT5, cTrader, TradingView
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Withdrawal in 72 h, over the India median 48
- The published 1:500 comes from the group's offshore entity, not from the India one
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 4.5IN
- Min deposit, USD
- 0IN
- Leverage
- 500IN
- Rank in this country
- #3
- Round turn, USD
- 7IN
- Min deposit, USD
- 10 groupIN
- Leverage
- 200IN
- Rank in this country
- #19
- Round turn, USD
- 6IN
- Min deposit, USD
- 10IN
- Leverage
- 3000IN
- Rank in this country
- #11
- Round turn, USD
- 7IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 2000 group
- Rank in this country
- #56
- Round turn, USD
- 7IN
- Min deposit, USD
- 0 groupIN
- Leverage
- 500IN
- Rank in this country
- #24
- Round turn, USD
- 5IN
- Min deposit, USD
- 0 groupIN
- Rank in this country
- #2
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | BlackBull Markets |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 85 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 95 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 40 |
| Track record | 10% | Years since the firm was founded, from its own filings | 60 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 85 |
FAQ
- Does BlackBull Markets accept residents of India?
- No. Offshore only; SEBI/RBI rules do not permit resident retail offshore-forex margin trading, so no lawful local authorisation exists. Onboarding entity: BBG Limited
- Is BlackBull Markets licensed to serve clients in India?
- BBG Limited holds Seychelles FSA licence SD045; BlackBull holds no SEBI registration in India. Checked on 09.07.2026.
- How much does one round turn cost at BlackBull Markets?
- About 6.0 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- What leverage does BlackBull Markets offer to retail clients in India?
- Up to 1:500. Up to 1:500 on forex via the Seychelles entity where accepted; not capped by an Indian regulator (but offshore forex is restricted for residents).
- Which trading platforms does BlackBull Markets support?
- MT4, MT5, cTrader, TradingView, BlackBull CopyTrade, BlackBull Invest. Instruments: 72 forex pairs and 26,000+ tradeable symbols: share CFDs, indices, commodities and crypto CFDs.
- How can I withdraw money from BlackBull Markets in India?
- Cards, bank wire, Skrill, Neteller and crypto; availability varies and specific Indian rails (e.g. UPI) not verified at review.
- What account types does BlackBull Markets offer?
- ECN Standard (USD 0 min, commission-free, spreads from ~0.8 pips), ECN Prime (USD 0 min, from 0.0 pips + ~USD 6 round-turn) and Institutional/Prime+ (USD 20,000 min, USD 3/round lot).
- Does BlackBull Markets offer a swap-free (Islamic) account?
- Yes. BlackBull Markets offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.