BlackBull Markets vs eToro Broker Comparison

Which Broker Has Lowest Trading Costs?

Trading costs can significantly impact your trading profitability. Let’s delve into the different cost structures of BlackBull Markets and eToro.

1. Standard Account Spreads

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 Analysis Updated September 2023[2]September 2023 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.

2. 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.

3. 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.

4. 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.

Black Markets ReviewVisit Black Markets

Who Has The Best Trading Environment?

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 trading environment, 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.

Black Markets ReviewVisit Black Markets

What Trading Platforms Are Offered?

Trading platforms are a gateway to the forex market, and the right platform can significantly enhance your trading experience.

1. MetaTrader 4 and 5

BlackBull Markets offers MetaTrader 4 and 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.

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.

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.

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.

Black Markets ReviewVisit Black Markets

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.

Black Markets ReviewVisit Black Markets

What Account Types Are Available?

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.

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.

eToro ReviewVisit eToro

Who Has Better Trust And Regulation?

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 Australian Securities and Investments Commission (ASIC), and the Malta Financial Services Authority (MFSA).

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.

eToro ReviewVisit eToro

Which Broker Has Superior Customer Service Levels

eToro offer 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.

Black Markets ReviewVisit Black Markets

Other Trading Factors

There are other factors to consider when choosing a forex broker.

Minimum Deposit Levels

BlackBull Markets has a minimum deposit requirement of $0 for its Standard and $2000 for its Prime account, while eToro requires a minimum deposit of $200.

Payment Methods

Both brokers offer a variety of payment methods, including credit card, bank transfer, 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 a lower minimum deposit and more payment options, BlackBull Markets could be more suitable.

Black Markets ReviewVisit Black Markets

Our Take On Which Broker Is Best

Best For Beginner Traders

eToro, with its user-friendly platform and social trading features, is an excellent choice for beginner traders. Its single account type simplifies the process, and the social trading feature allows beginners to learn from experienced traders.

Best For Experienced Traders

BlackBull Markets, with its ECN trading environment, MetaTrader platforms, and variety of account types, is more suited for experienced traders. Its competitive spreads and commission structure can also help improve trading profitability.