Blackbull

The BlackBull Markets mission is to provide traders with a superior trading experience through innovative technology and exceptional customer service. Since 2014, BlackBull Markets has served tens of thousands of traders from over 180 countries and established itself as a trusted and regulated ECN broker offering access to more than 26,000 tradable instruments including stocks, forex, CFDs, and commodities.

Category
Finance and Investment
Rating
Commission
Up to $1000
Commission Model
CPA
RS
Hybrid
E-Mail
partners@blackbull.com
Software
Cellxpert

Review

Commission Structure – 7.5/10

BlackBull’s affiliate program offers a flexible commission model that includes CPA, Revenue Share (RS), and hybrid options. This allows affiliates to select a structure that best aligns with their traffic and strategy. The Revenue Share model typically ranges around industry-average percentages, making it competitive but not exceptionally high. While recurring commissions are available under the RS model, they are dependent on client activity and may taper off over time. For affiliates seeking long-term passive income, the recurring structure is moderately appealing, but more aggressive tiers or lifetime commissions would strengthen the offering.

Cookie Duration – 7/10

The standard cookie duration for BlackBull affiliates is 30 days, which is aligned with common industry standards. This gives a reasonable window for affiliates to earn commissions from referred users who may not convert immediately. While not among the longest durations available (some programs offer 60 or 90 days), it’s still fair and functional for most use cases.

Payout Process – 7/10

BlackBull requires affiliates to meet a minimum payout threshold, typically around $100, which is standard in the industry. Payments are processed monthly, and options include bank transfers and other mainstream methods, though availability may depend on the affiliate’s country. While reliable, the lack of more frequent payouts (e.g., bi-weekly or weekly) or a broader selection of payment processors (like PayPal or crypto) could limit appeal for smaller affiliates or those seeking faster access to earnings.

Geographical Target Market – 6.5/10

BlackBull primarily targets regions with strong interest in forex and CFD trading, including Asia-Pacific, parts of Europe, and Latin America. While this focus aligns with the broker’s licensing and regulatory footprint, the program is not as globally expansive as some others. Affiliates working with niche or localized traffic might find opportunities, but those with audiences in restricted or underserved regions may need to look elsewhere.

Tracking Software – 8/10

The affiliate platform used by BlackBull includes robust tracking features, with generally accurate and reliable click and conversion logging. Real-time tracking is available, giving affiliates up-to-date insights on performance. The interface is intuitive and accessible even to newcomers, and Sub-ID tracking is supported, allowing more granular traffic segmentation and optimization. Overall, the tracking system is well-equipped for serious affiliate marketers.

Marketing Tools and Support – 7.5/10

BlackBull provides affiliates with a range of marketing assets, including banners, landing pages, and emails. These are regularly updated and tailored to multiple languages, which is a plus. While customization is possible, it may require coordination with an account manager. Support is responsive and professional, although not necessarily available 24/7. Dedicated account management is available to high-performing affiliates, but entry-level affiliates may experience slower response times.

Reputation and Trustworthiness – 7/10

BlackBull enjoys a decent reputation in the forex space, particularly among traders looking for ECN trading conditions and competitive spreads. The brand has been in operation for several years and is regulated in multiple jurisdictions, lending credibility. However, as with many brokers in the sector, opinions are mixed online, with some user skepticism around trading conditions or withdrawal timelines—factors that can impact affiliate trust when promoting the brand.

Conversion Rates – 6.5/10

Conversion rates for the BlackBull affiliate program can vary significantly depending on traffic quality and region. While the site is professional and well-designed, the registration and onboarding process involves several steps, which can deter casual prospects. The checkout and funding processes are secure but somewhat complex, especially for new traders unfamiliar with forex platforms. This can lead to moderate abandonment rates, impacting final conversions.

Program Flexibility – 7.5/10

BlackBull offers a reasonable level of flexibility within its program. Affiliates can negotiate terms such as commission tiers or switch between CPA and RS models based on performance. Hybrid models are supported, allowing for a blend of upfront and recurring commissions. This is particularly beneficial for affiliates testing different monetization strategies or managing varied traffic sources.

Exclusive Offers and Incentives – 6/10

While BlackBull occasionally runs promotions, such as deposit bonuses or enhanced CPA rates, these are not consistently available and often limited to specific regions or timeframes. Performance-based bonuses are rare and generally reserved for top-tier affiliates. The absence of frequent exclusive offers or robust loyalty incentives may limit the motivation for newer affiliates.

Technical Integration – 7/10

The affiliate system is straightforward to integrate, requiring minimal technical setup. Tracking links are easy to generate and implement across websites or ad platforms. However, more advanced tools such as API access for deeper data insights or automation are limited or only available upon request. For tech-savvy affiliates or agencies, this could be a drawback.

Overall Rating: 7.1/10

BlackBull’s affiliate program is a solid choice for those in the forex and CFD niche, offering flexible commission models, decent tracking software, and a reputable brand. While there’s room for improvement in conversion optimization, global reach, and exclusive incentives, the platform provides a reliable foundation for affiliates with relevant traffic. It's especially suitable for mid- to high-tier marketers looking for a broker partnership with decent long-term potential.

Withdrawal Methods

No items found.

Languages

No items found.

Target Market

BlackBull has a globally oriented geographical target market, with a particularly strong presence in key regions where forex and CFD trading are most active:

APAC (Asia-Pacific)

BlackBull, headquartered in New Zealand, has a strong foothold in the Asia-Pacific region. It actively serves markets such as Australia, Singapore, Malaysia, Thailand, and the Philippines. The broker appeals to both retail and institutional traders in these regions, leveraging its regulatory standing and localized offerings to support active trading communities.

USA/Canada

Due to regulatory restrictions, BlackBull does not currently target the U.S. market for retail trading. However, Canada remains an accessible and growing market, particularly among experienced traders seeking ECN and low-latency execution environments.

EUROPE

BlackBull has moderate visibility in several European countries, including Germany, the UK, Italy, and Scandinavia. While not as dominant as some EU-regulated brokers, it caters to traders looking for STP/ECN execution, competitive spreads, and access to global markets, making it an appealing alternative for certain segments.

LATAM (Latin America)

The platform is steadily growing its presence in Latin American countries such as Brazil, Mexico, Colombia, and Chile. These regions are seeing increasing interest in forex and CFD trading, and BlackBull is tapping into that demand by offering localized language support and region-specific promotions.

MEA (Middle East and Africa)

BlackBull is expanding into the Middle East and Africa, with emerging traction in countries such as the UAE, South Africa, and Nigeria. The broker’s Islamic account options and multilingual support help serve a diverse demographic of traders in these regions who are looking for Sharia-compliant or advanced trading conditions.

Overall, BlackBull’s geographical targeting is diversified, with particular strength in APAC and emerging growth in LATAM and MEA, while maintaining selective presence in Europe and Canada.

Commission Structure

CPA

BlackBull offers a robust CPA model, where affiliates receive a one‑time fixed payment for each referred client who meets qualifying criteria (typically registering, funding an account above a minimum deposit threshold, and executing a minimum number of trades).


CPA payouts vary by region and are tiered by jurisdictions: up to about US $500 for clients in top-tier markets (e.g. Australia, UK, Germany, Hong Kong, Switzerland, etc.), around US $375 for mid-tier countries, US $250 for other specified regions, and US $125 for remaining eligible markets.
Some sources report even higher ceilings—commissions of up to US $1,000 per client—though these may correspond to high‑volume or negotiated cases.

Revenue Share

BlackBull also support a RevShare model (often referred to as spread‑share), where affiliates earn an ongoing share of net trading revenue generated by referred clients—often calculated based on spreads, net revenues, or lots traded.
Commissions continue as long as the client trades and profits are shared monthly. Many affiliates are drawn to this model due to its passive and long‑term earning potential, especially from high‑volume traders

Hybrid / Two‑Tier Model

While BlackBull formally lists CPA and RevShare models, many affiliates operate in a hybrid or two‑tier structure, effectively blending both approaches. The platform also offers a multi‑tier (IB/referral) component: primary affiliates may earn a standard 10% commission from commissions paid to their sub‑affiliates, creating additional passive income potential.
Some partners also have access to customized hybrid terms or negotiated commission enhancements, particularly influencers or high-volume affiliates.