BlackBull Markets has STP execution starting with 0 pips spreads on MT4, MT5 and TradingView. eToro is a social trading platform with no commission spreads. See which of the two Forex brokers we like best.
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Our full comparison covers the 10 most important trading factors. Here are noticeable differences between BlackBull Markets and eToro:
Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. BlackBull Markets and eToro have similar spreads for most pairs, with BlackBull Markets slightly higher for some pairs. However, when we compare these to the industry average, we see a different picture.
BlackBull Markets, for instance, has a higher spread for the EUR/USD pair at 1.2 compared to eToro’s 1. However, both are below the industry average of 1.18. This pattern is consistent across most pairs, with BlackBull Markets and eToro often offering lower spreads than the industry average.
| Standard Account | BlackBull Markets Spreads | eToro Spreads | Industry Spreads |
|---|---|---|---|
| Overall Average | 1.5 | 1.5 | 1.6 |
| EUR/USD | 1.1 | 1 | 1.2 |
| USD/JPY | 1.4 | 1 | 1.4 |
| GBP/USD | 1.4 | 2 | 1.6 |
| AUD/USD | 1.2 | 1 | 1.5 |
| USD/CAD | 1.4 | 1.5 | 1.8 |
| EUR/GBP | 1.7 | 1.5 | 1.5 |
| EUR/JPY | 1.8 | 2 | 1.9 |
| AUD/JPY | 2.0 | 2.0 | 2.1 |
Standard Account Analysis Updated December 2024[2]December 2024 Published And Tested Data
So, which broker is cheaper? If we’re purely looking at spreads, eToro seems to have the edge. But remember, cost isn’t everything. The quality of service, platform stability, and other factors should also be considered. And how do they compare to the industry average? Both brokers are competitive, often offering lower spreads. But as always, it’s essential to do your research and choose the broker that best fits your trading needs.
We added a fee calculator to help you understand the impact of lower spreads. Pick your base currency, trade size, and pair to view the fee.
Commissions
Commissions are another significant aspect of trading costs. BlackBull Markets charges a commission of $6 per round lot traded on its ECN accounts, as per our exclusive research. eToro, however, operates on a spread-only pricing model and does not charge any trading commissions.
Deposit & Withdrawal Fees
Both BlackBull Markets and eToro do not charge any fees for deposits. However, withdrawal fees differ. BlackBull Markets does not charge any withdrawal fees, while eToro charges a flat fee of $5 for withdrawals.
Other Fees
In terms of other fees, eToro charges an inactivity fee of $10 per month after 12 months of inactivity, while BlackBull Markets does not charge any inactivity fees.
Verdict
When it comes to trading costs, BlackBull Markets appears to have a slight edge due to its lower spreads and lack of withdrawal and inactivity fees. However, eToro’s commission-free trading can be attractive to some traders.
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Trading platforms are a gateway to the forex market, and the right platform can significantly enhance your trading experience.
| Trading Platform | BlackBull Markets | eToro |
|---|---|---|
| MetaTrader 4 | Yes | No |
| MetaTrader 5 | Yes | No |
| cTrader | Yes | No |
| TradingView | Yes | No |
| Copy Trading | Yes | Yes |
| Proprietary Platform | Yes | Yes |
1. MetaTrader 4 and 5
BlackBull Markets offers MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms in the forex industry. These platforms provide advanced charting tools, automated trading capabilities, and a user-friendly interface. eToro, however, does not offer MetaTrader platforms.
For more information, you can read our MetaTrader 4 vs MetaTrader 5 comparison.
2. cTrader and TradingView
While BlackBull Markets does not offer cTrader or TradingView, it does provide VPS services for automated trading. eToro, on the other hand, does not offer these platforms but has its unique platform that integrates social trading features.
| Criteria | BlackBull Markets | eToro |
|---|---|---|
| MetaTrader 4 | Yes | No |
| MetaTrader 5 | Yes | No |
| cTrader | No | No |
| TradingView | No | No |
| Other Platforms | BlackBull Social BlackBull Shares BlakcBull Trade |
No |
| VPS Services | Yes | No |
3. Social And Copy Trading
eToro excels in this area with its innovative social trading platform. It allows traders to follow and copy the trades of experienced traders, making it an excellent platform for beginner traders. BlackBull Markets does not offer social or copy trading features.
| Broker | Trading Platform |
|---|---|
| BlackBull Markets | MetaTrader 4 & 5, MetaTrader Signals, ZuluTrade, Myfxbook, BlackBull Social |
| eToro |
4. Automated Trading
BlackBull Markets supports automated trading through Expert Advisors (EAs) on its MetaTrader platforms. EAs are programs that can automatically analyze market conditions and execute trades based on pre-set rules.
On the other hand, eToro does not support traditional automated trading through EAs or similar tools. However, it does offer a form of automated trading through its copy trading feature. Traders can choose to copy the trades of successful investors, effectively automating their trading based on the strategies of these investors.
Verdict: If you’re interested in traditional automated trading through EAs, BlackBull Markets is the better choice. If you’re interested in a more social form of automated trading, eToro’s copy trading feature is the way to go.
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| Broker | Trading Tools |
|---|---|
| BlackBull Markets | Expert Advisors (EAs) |
| eToro | Yes (can copy others) |
5. VPS and Other Trading Tools
BlackBull Markets offers free VPS services to clients who meet certain criteria, which can be beneficial for traders using automated trading strategies. eToro does not offer VPS services but provides a wide range of research and educational tools.
Verdict: When it comes to trading platforms, the choice between BlackBull Markets and eToro depends on your trading needs. If you prefer using MetaTrader platforms and need VPS services, BlackBull Markets would be the better choice. However, if you’re interested in social and copy trading, eToro’s unique platform stands out.
BlackBull Markets offers three account types: Standard, Prime, and Institutional. The Standard account is commission-free with slightly higher spreads, while the Prime and Institutional accounts offer lower spreads with a commission per lot traded. All accounts offer ECN execution and access to MetaTrader 4 and 5.
eToro, on the other hand, offers a single account type with access to its unique social trading platform. It also provides a free demo account and the option to upgrade to a Professional account for experienced traders who meet certain criteria.
| Blackbull Markets | eToro | |
|---|---|---|
| Standard Account | Yes | Yes |
| Raw Account | Yes | No |
| Swap Free Account | Yes | Yes |
| Active Traders | Yes | No |
| Spread Betting (UK) | No | No |
Verdict: BlackBull Markets offers more variety in account types, which can cater to different trading needs and styles. However, eToro’s social trading platform can be a significant advantage for traders interested in social and copy trading.
The trading environment is a crucial aspect of forex trading. It includes factors like execution speeds, slippage, and latency. According to our research, BlackBull Markets offers an ECN Brokers, which typically provides faster execution speeds and lower latency. eToro, on the other hand, offers a unique social trading environment, which can be a significant advantage for beginner retail traders or those who wish to leverage the knowledge of experienced traders.
Verdict: If you value fast execution speeds and low latency, BlackBull Markets may be the better choice. However, if you’re interested in social trading, eToro’s platform is unrivalled.
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| Criteria | BlackBull Markets | eToro |
|---|---|---|
| Execution Speeds | Fast (ECN) | Varies |
| Latency | Low (ECN) | Varies |
| Trading Environment | ECN | Social Trading |
eToro Trust Score
BlackBull Markets Trust Score
BlackBull Markets is regulated by the New Zealand Financial Markets Authority (FMA) and the Seychelles Financial Services Authority (FSA-S). On the other hand, eToro is regulated by multiple authorities, including the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the ASIC Regulated Brokers, and the Malta Financial Services Authority (MFSA).
| BlackBull Markets | eToro | |
|---|---|---|
| Tier 1 Regulation | FMA (New Zealand) | ASIC (Australia) CYSEC (Cyprus) FCA (UK) |
| Tier 2 Regulation | MFSA (Europe) ADGM (UAE) GFSC (Gilbraltar) |
|
| Tier 3 Regulation | FSA-S (Seychelles) | FSA-S (Seychelles) |
Verdict: In terms of regulation, eToro has an edge with its multi-jurisdictional regulation, providing an additional layer of trust and security for its clients.
When it comes to the range of products and CFD markets, both BlackBull Markets and eToro have a diverse offering. However, to provide a clear comparison, we’ve compiled data from the website and our own testing.
| Product/Market | BlackBull Markets | eToro |
|---|---|---|
| Forex Pairs | 64 | 47 |
| Commodities | 12 | 13 |
| Indices | 11 | 13 |
| Stocks | 150+ | 2000+ |
| Cryptocurrencies | 5 | 16 |
| ETFs | 10 | 150 |
| Metals | 4 | 5 |
| Energies | 3 | 4 |
| Bonds | 2 | 5 |
| Options | 0 | 10 |
| Total Products | 211+ | 2263+ |
Verdict: eToro offers a significantly wider range of CFDs and Markets compared to BlackBull Markets. However, traders should consider other factors, such as fees, platform usability, and customer support, before making a final decision.
Both BlackBull Markets and eToro pride themselves on offering a range of educational resources to assist traders at all levels. Based on our own testing, here’s a comparison of the educational resources each broker offers:
Verdict: Based on our testing, eToro slightly edges out BlackBull Markets in terms of educational resources, offering a more diverse and interactive learning experience for traders.
eToro offers customer support via email and live chat. BlackBull Markets also provides phone support, which can be beneficial for urgent queries. eToro, on the other hand, has a comprehensive FAQ section on its website, which can help clients find quick answers to common questions.
Verdict: Both brokers offer good customer service, but BlackBull Markets’ phone support can be a significant advantage for traders who prefer direct communication.
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| Criteria | BlackBull Markets | eToro |
|---|---|---|
| Customer Support Channels | Email, Live Chat, Phone | Email, Live Chat |
Both brokers offer a variety of payment methods, including credit cards, bank transfers, and e-wallets like Skrill and Neteller. BlackBull Markets also accepts broker-to-broker transfers.
Trading Instruments
BlackBull Markets offers over 64 currency pairs, commodities, indices, and CFDs on metals, oil, and gas. eToro, on the other hand, offers a broader range of trading instruments, including forex, commodities, indices, stocks, ETFs, and cryptocurrencies.
Verdict: If you’re looking for a wider range of trading instruments, eToro would be the better choice. However, if you prefer more payment options, BlackBull Markets could be more suitable.
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| Criteria | BlackBull Markets | eToro |
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Payment Methods | Credit Card, Bank Transfer, E-Wallets, Broker-to-Broker Transfer | Credit Card, Bank Transfer, E-Wallets |
| Trading Instruments | ||
| Forex CFD | 72 | 49 |
| Shares CFD | 26000+ | 1209 NYSE 884 NASDAQ 117 FrankFurt 285 LSE 42 Madrid 49 Zurich 26 Oslo 49 Stockholm 23 Copenhagen 20 Helsingki 135 Hong Kong 3 Lisbon 15 Brussels 1 Saudi Arabia 35 Amsterdam |
| Cryptos CFD | 13 | 79 Coins, 14 crosses |
| Commodities CFD | 9 Metals 5 Energies 8 Softs |
32 |
| Indices CFD | 10 | 20 |
| Bonds/Treasuries CFD | No | No |
| Spread Betting (UK only) | No | No |
| Other Products | No | No |
| Shares (underlying) | Yes | Yes (US only) |
For many traders, especially those just starting out, the minimum deposit requirement can be a significant factor in choosing a broker. It’s essential to find a balance between affordability and the range of features and services offered by the broker. Both BlackBull Markets and eToro have set their minimum deposit requirements to cater to a wide range of traders, from beginners to professionals.
The table below provides a clear comparison of the minimum deposit amounts required by each broker for their respective account types:
| Broker/Account Type | Minimum Deposit |
|---|---|
| BlackBull Markets – ECN Standard | $0 |
| BlackBull Markets – ECN Prime | $2,000 |
| BlackBull Markets – ECN Institutional | $25,000 |
| eToro – Standard | $50 |
| Trader is a redident in: | Minimum First Deposit (USD) |
| Australia, United Kingdom, Germany, Malaysia, Singapore, Thailand, Ireland, Spain, Sweden | $50 |
| France, Poland, Slovakia, Belgium, Czech Republic | $100 |
| Eligible countries outside of the list | $200 |
| New Zealand | $1,000 |
| Israel | $10,000 |
| Uniited States | $10 |
While BlackBull Markets offers a zero minimum deposit for its ECN Standard account, it has higher requirements for its more advanced accounts. On the other hand, eToro maintains a consistent minimum deposit across its platform, making it more accessible for traders who are not looking to invest a significant amount upfront.
Verdict: eToro offers a lower minimum deposit for its standard account compared to BlackBull Markets’ advanced accounts, making it a more accessible choice for most traders. However, BlackBull Markets’ zero minimum deposit for its ECN Standard account is also an attractive option for those looking to start with no initial investment.
eToro is the winner because it excels in several key areas, including trust and regulation, product range, and educational resources. The table below summarises the key information leading to this verdict:
| Criteria | BlackBull Markets | eToro |
|---|---|---|
| Lowest Spreads And Fees | ✅ | ❌ |
| Better Trading Platform | ✅ | ✅ |
| Superior Accounts And Features | ✅ | ✅ |
| Best Trading Experience And Ease | ✅ | ✅ |
| Better Trust And Regulation | ❌ | ✅ |
| Top Product Range And CFD Markets | ❌ | ✅ |
| Superior Educational Resources | ❌ | ✅ |
| Superior Customer Service | ✅ | ❌ |
| Better Funding Options | ✅ | ✅ |
| Lower Minimum Deposit | ✅ | ❌ |
eToro is the ideal choice for beginner traders due to its user-friendly platform, extensive educational resources, and innovative social trading features.
BlackBull Markets stands out for experienced traders, offering advanced trading tools, competitive spreads, and a range of account types to suit different trading strategies.
BlackBull Markets generally offers lower costs compared to eToro. While eToro has a spread-only pricing model, BlackBull Markets provides competitive spreads starting from 0 pips. This makes a significant difference in trading costs over time. For a deeper dive into brokers with low commissions, you can explore the Lowest Commission Brokers.
Both eToro and BlackBull Markets support MetaTrader 4, but BlackBull Markets offers a more seamless integration with the platform. eToro, on the other hand, is more renowned for its proprietary platform. If you’re keen on finding the best MT4 experience, consider browsing through the hest MT4 brokers.
eToro stands out as a pioneer in social trading, allowing traders to emulate the strategies of professionals. While BlackBull Markets offers advanced trading tools, it doesn’t match eToro’s social trading prowess.
Neither eToro nor BlackBull Markets offer spread betting as a primary service. Spread betting is a unique form of trading popular in the UK and some other regions, and not all brokers provide this service. If you’re interested in brokers that specialise in spread betting, you might want to check out the best spread betting brokers in the UK.
In my opinion, BlackBull Markets is the superior choice for Australian forex traders. Founded in New Zealand and now headquartered in Auckland, they are closely connected to the Australian trading community. Furthermore, they are ASIC regulated, ensuring a high level of trust and security for Australian traders. eToro, on the other hand, is an international broker with a significant presence in Australia but is originally based overseas. For a comprehensive list of top brokers in Australia, you can visit this Best Forex Brokers In Australia comparison.
For UK traders, I believe eToro has a slight edge. They are FCA regulated, which provides a significant level of trust and security for UK-based traders. While BlackBull Markets also offers services in the UK, they are not originally based there. eToro’s platform is user-friendly and offers a range of tools tailored to the needs of UK traders. If you’re looking for more options, here’s a guide to the best forex brokers in UK.
eToro, reaches 20 million users.
https://www.etoro.com/news-and-analysis/etoro-updates/20m-users/
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
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