This BlackBull Markets vs FxPro review looks at an STP broker vs a market maker. Both have MT4 and MT5 trading platforms, with Blackbull having higher leverage and FxPro fixed and variable spreads.
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Blackbull Markets and FXPro are both reputable forex brokers, but they differ significantly in their offerings. Blackbull Markets, a New Zealand-based broker, is known for its fast execution speed and competitive spreads. On the other hand, FXPro, headquartered in the UK, offers a wider range of trading platforms and has a more extensive regulatory oversight.
When it comes to trading costs, both brokers have their strengths and weaknesses.
When it comes to standard account spreads, both BlackBull Markets and FxPro Broker Comparison have their strengths and weaknesses. For the EUR/USD pair, BlackBull Markets offers a slightly lower spread of 1.2 compared to FxPro’s 1.32. This trend continues for the USD/JPY and GBP/USD pairs, where BlackBull Markets again offers lower spreads. However, when we look at the AUD/USD pair, FxPro takes the lead with a spread of 1.95 compared to BlackBull’s 1.7.
In my opinion, if you’re a trader who primarily deals with EUR/USD, USD/JPY, or GBP/USD, BlackBull Markets would be the cheaper option. However, if AUD/USD is your go-to pair, FxPro would be the more cost-effective choice.
| Forex Pair | BlackBull Markets | FxPro Broker Comparison | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.32 | 1.18 |
| USD/JPY | 1.3 | 1.4 | 1.37 |
| GBP/USD | 1.4 | 1.7 | 1.51 |
| AUD/USD | 1.7 | 1.95 | 1.41 |
| USD/CAD | 1.5 | 1.73 | 1.70 |
| EUR/GBP | 1.5 | 1.37 | 1.56 |
| EUR/JPY | 1.9 | 1.87 | 1.85 |
| AUD/JPY | 2.1 | 3.19 | 2.09 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
Comparing these brokers to the industry average, both BlackBull Markets and FxPro offer competitive spreads. For most pairs, BlackBull Markets’ spreads are below the industry average, making it a cost-effective choice for many traders. FxPro, on the other hand, offers spreads that are slightly above the industry average for some pairs, but its competitive AUD/USD spread could make it a more attractive option for traders focusing on that pair.
In conclusion, the choice between BlackBull Markets and FxPro would largely depend on which forex pairs you trade most frequently. It’s always important to consider your personal trading habits and preferences when choosing a broker.
Blackbull Markets charges a commission of $6 per round turn on its ECN Prime account. FXPro, however, does not charge any commission on its MT4 and MT5 accounts but charges $9 per round turn on its cTrader account.
Neither Blackbull Markets nor FXPro charge any fees for deposits or withdrawals. However, it’s important to note that your bank or payment provider may charge a fee.
Both brokers do not charge any inactivity fees or account maintenance fees. However, overnight swap rates may apply for positions held overnight.
Verdict: When it comes to trading costs, Blackbull Markets comes out on top due to its lower spreads and commissions. For more information on forex trading costs, check out our forex trading fees guide.
Black Markets ReviewVisit Black Markets
| Criteria | Blackbull Markets | FXPro |
|---|---|---|
| Spreads | 0.2 pips (EUR/USD) | 1.58 pips (EUR/USD) |
| Commissions | $6 per round turn | $9 per round turn (cTrader) |
| Deposit & Withdrawal Fees | No | No |
| Other Fees | No | No |
The trading environment is crucial for traders as it can significantly impact their trading experience and performance.
Blackbull Markets stands out for its fast execution speed, which is vital to avoid slippage. According to the 2023 testing conducted by CompareForexBrokers, Blackbull Markets has the fastest execution speed among 20 MetaTrader 4 forex brokers. This fast execution speed can help prevent slippage, ensuring that your orders close at the requested price.
On the other hand, FXPro offers a more diverse trading environment with a wider range of trading platforms, including MT4, MT5, cTrader, and its proprietary FXPro Edge platform. This allows traders to choose a platform that best suits their trading style and needs.
Verdict: While FXPro offers a more diverse trading environment, Blackbull Markets wins this category due to its superior execution speed. For more information on execution speeds, check out our execution speed testing guide.
Black Markets ReviewVisit Black Markets
| Criteria | Blackbull Markets | FXPro |
|---|---|---|
| Execution Speed | Fastest among 20 MT4 brokers | Not specified |
| Range of Trading Platforms | MT4, MT5 | MT4, MT5, cTrader, FXPro Edge |
Both Blackbull Markets and FXPro offer a range oftrading platforms to cater to different trading needs.
Both brokers offer MetaTrader 4 and MetaTrader 5, the most popular trading platforms in the forex industry. These platforms are known for their advanced charting tools, automated trading capabilities, and wide range of technical indicators.
FXPro offers cTrader, a platform known for its intuitive interface, advanced charting capabilities, and fast order execution. Blackbull Markets does not offer cTrader. For more information on cTrader, check out our guide on the best cTrader forex brokers.
| Criteria | Blackbull Markets | FXPro |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | No | Yes |
| TradingView | No | No |
| Other Platforms | BlackBull Social BlackBull Shares BlakcBull Trade |
FxPro Trading Platform |
| VPS Services | Yes | Yes |
Blackbull Markets offers MetaTrader Signals, ZuluTrade, Myfxbook, and BlackBull Social for social and copy trading. On the other hand, FXPro offers MetaTrader Signals and cTrader Copy for social and copy trading.
Verdict: Blackbull Markets wins this category due to its wider range of social and copy trading platforms.
Black Markets ReviewVisit Black Markets
| Broker | Social and Copy Trading Platforms |
|---|---|
| Blackbull Markets | MetaTrader Signals, ZuluTrade, Myfxbook, BlackBull Social |
| FXPro | MetaTrader Signals, cTrader Copy |
Both Blackbull Markets and FXPro offer tools for automated trading, which allows traders to automate their trading strategies and eliminate the need for manual intervention.
Blackbull Markets supports the use of Expert Advisors (EAs), which are automated trading systems developed for the MetaTrader platform. EAs can follow predefined strategies regardless of the trader’s presence, allowing for 24/7 trading.
FXPro, on the other hand, not only supports Expert Advisors (EAs) but also offers cTrader Automate, a feature of the cTrader platform that allows traders to create, test, and optimize algorithmic trading strategies in C#.
Verdict: FXPro wins this category due to its wider range of automated trading options.
| Broker | Automated Trading Tools |
|---|---|
| Blackbull Markets | Expert Advisors (EAs) |
| FXPro | Expert Advisors (EAs), cTrader Automate |
Both brokers offer Virtual Private Server (VPS) services, which can enhance trading performance by ensuring a stable and fast trading environment. Additionally, they offer various trading tools such as economic calendars, market news, and analysis.
Verdict: FXPro wins this category due to its wider range of trading platforms, including cTrader.
Blackbull Markets offers three types of accounts: Standard, Prime, and Institutional. The Standard account is commission-free with slightly higher spreads, while the Prime and Institutional accounts offer tighter spreads with a commission charge.
FXPro, on the other hand, offers four types of accounts: MT4, MT5, cTrader, and FXPro Edge. The account type determines the trading platform, spread, and commission structure.
Verdict: Both brokers offer a range of account types to cater to different trading needs. However, FXPro offers a more diverse range of account types due to its different platform offerings. For more information on account types, check out our guide on the best forex broker demo accounts.
| Criteria | Blackbull Markets | FXPro |
|---|---|---|
| Number of Account Types | 3 | 4 |
| Commission-free Account | Yes (Standard) | Yes (MT4, MT5) |
| Low-spread Account | Yes (Prime, Institutional) | Yes (cTrader) |
Blackbull Markets is regulated by the New Zealand Financial Markets Authority (FMA) and the Seychelles Financial Services Authority (FSA-S), while FXPro is regulated by multiple regulatory bodies, including the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the South Africa Financial Sector Conduct Authority (FSCA), the Securities Commission of The Bahamas (SCB), and the Financial Services Commission, Mauritius (FSCM).
Verdict: FXPro wins this category due to its more extensive regulatory oversight, which can provide traders with greater peace of mind. For more information on regulation, check out our guide on FCA regulated forex brokers.
| Broker | Regulator |
|---|---|
| Blackbull Markets | FMA, FSA-S |
| FXPro | FCA, CySEC, FSCA, SCB, FSCM |
Both brokers offer excellent customer service, including live chat, email, and phone support. However, FXPro stands out for its multilingual support and 24/5 availability.
Verdict: FXPro wins this category due to its multilingual support and 24/5 availability.
| Criteria | Blackbull Markets | FXPro |
|---|---|---|
| Customer Support Channels | Live chat, Email, Phone | Live chat, Email, Phone |
| Availability | Business hours | 24/5 |
| Multilingual Support | No | Yes |
Blackbull Markets requires a minimum deposit of $200 for its Standard and Prime accounts, while FXPro requires a minimum deposit of $100 for all its account types.
Both brokers offer a range of payment methods, including credit/debit card, bank transfer, and e-wallets such as Skrill and Neteller.
Blackbull Markets offers a maximum leverage of 1:500, while FXPro offers a maximum leverage of 1:500 for professional clients and 1:30 for retail clients due to regulatory restrictions.
Verdict: Blackbull Markets wins this category due to its lower minimum deposit requirement and higher leverage for all clients. For more information on other trading factors, check out our guide on Copy Trading.
Black Markets ReviewVisit Black Markets
| Criteria | Blackbull Markets | FXPro |
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Payment Methods | Credit/Debit Card, Bank Transfer, E-Wallets | Credit/Debit Card, Bank Transfer, E-Wallets |
| Maximum Leverage | 1:500 | 1:500 (Professional Clients), 1:30 (Retail Clients) |
| Trading Instruments | ||
| Forex CFD | 72 | 69 |
| Shares CFD | 26000+ | 2031 |
| Cryptos CFD | 9 | 28 |
| Commodities CFD | 9 Metals 5 Energies 8 Softs |
8 Metals (3 x Gold) 3 Energies |
| Indices CFD | 10 | 18 |
| Bonds/Treasuries CFD | No | No |
| Spread Betting (UK only) | No | Yes |
| Other Products | No | No |
| Shares (underlying) | Yes | No |
Best For Beginner Traders: FXPro is best for beginner traders due to its lower minimum deposit requirement, wider range of trading platforms, and more extensive regulatory oversight.
Best For Experienced Traders: Blackbull Markets is best for experienced traders due to its lower trading costs, faster execution speed, and higher leverage.
FXPro is better for beginner traders due to its lower minimum deposit requirement, wider range of trading platforms, and more extensive regulatory oversight.
Blackbull Markets offers lower trading costs due to its lower spreads and commissions.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
