Blackbull Markets vs IC Markets: Which One Is Best?

2. Better Trading Platform – A Tie

Both brokers offer a good range of trading platforms. You get MetaTrader 4 and MetaTrader 5, the industry standards for forex trading. You can run EAs, deploy custom indicators, or backtest strategies seamlessly across desktop, web, and mobile.

cTrader is also available on both sides. You’ll definitely appreciate that if you’re focused on advanced order types, cleaner UI, or faster execution via cTrader’s native infrastructure. It’s popular with traders who like Level II depth of market or native algo trading with cAlgo.

Then there’s TradingView, which both brokers integrate with. That means access to some of the best charting tools, plus an enormous social trading community and thousands of pre-built indicators and scripts.

For copy traders, you’ll have access to BlackBull CopyTrader and also ZuluTrade and Myfxbook, which expand your options with hundreds of verified traders. IC Markets supports copy trading through cTrader Copy.

You’ll also come across proprietary platforms for account management, analytics, and trading tools, but the trading experience itself comes down to user preference.

Verdict

There’s no clear winner for me in this section. IC Markets and BlackBull both provide several high-performance platforms that suit all kinds of traders.

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3. Superior Accounts And Features – BlackBull Markets

When it comes to account structure, BlackBull Markets has more flexible account types. They provide three distinct ECN accounts designed to scale with your experience and capital.

The ECN Standard account is somewhat beginner-friendly with no commissions, low spreads (around 0.8 pips), and a $0 minimum deposit.

Then there’s the ECN Prime account, which is BlackBull’s most popular account. It offers raw spreads from 0.1 pips with a $6 round-turn commission but you’ll need a $2,000 minimum.

For serious volume traders, there’s the ECN Institutional account. Spreads are from 0.0 pips and charges just $4 commission, and a $20,000 minimum.

All BlackBull accounts offer leverage up to 1:500, micro lot trading from 0.01, and execution routed through Equinix NY4, LD5, and Tokyo TY3 data centers. That’s global latency coverage most brokers can’t match. Islamic (swap-free) options are available on Standard and Prime, but not Institutional.

IC Markets keeps it simpler with three account types: the Standard (spread-only), Raw Spread (MT4/MT5), and cTrader Raw. You’re looking at spreads from 0.0 pips on the Raw and cTrader accounts, with $6–$7 commissions depending on the platform.

Minimum deposit is $200 across the accounts, and leverage caps at 1:500. Micro lot trading is supported, but MT4/MT5 accounts are limited to 200 open positions, a major constraint for high-frequency or multi-strategy traders. cTrader extends that ceiling to 2,000 positions, which helps, but that’s platform-dependent.

Verdict

BlackBull gives you more account types, higher leverage and fewer platform restrictions.

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4. Best Trading Experience And Ease – IC Markets

BlackBull dominates on execution speed and the numbers show it clearly. Limit orders average 72ms and market orders 90ms. That ranks them #1 globally for limit orders, #5 for market orders, and #1 overall in my execution speed tests. IC Markets, while still competitive, clocks in at 134ms for limit and 153ms for market orders, ranking #17 overall.

But raw speed is just one piece of the puzzle. What IC Markets brings to the table is platform quality. Their trading experience is smoother, more intuitive, and better equipped for active traders.

You get MetaTrader 4 and 5, plus cTrader and TradingView, all fully integrated, stable, and packed with advanced tools. MetaTrader users also benefit from IC’s exclusive MT4 Advanced Tools suite, which adds serious power for order management and analysis.

Verdict

IC Markets nails that balance between speed and usability, making it the better all-around choice for everyday trading.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

5. Stronger Trust And Regulation – IC Markets

Trust is built over time and it comes from how the broker is regulated, how they handle client issues, and whether they consistently deliver on what they promise.

That’s why IC Markets scored higher in my review under trust, with a Trust Score of 61, backed by strong regulation, reputation and client reviews. BlackBull scored 50, weighed down by weaker regulatory standing and less established brand recognition.

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Regulation

Strong oversight matters a lot in CFD trading and IC Markets has the upper hand in this case. They’re regulated by ASIC and CySEC, two of the toughest regulators worldwide. So if you’re trading with IC, you’re well-protected and benefit from better client fund protection, and higher transparency.

BlackBull Markets is licensed in New Zealand under the FMA. Beyond that, both brokers use FSA Seychelles entities to operate offshore and offer higher leverage, but it comes with minimal oversight.

Reputation

IC Markets is a global giant and they’ve got the numbers to back it up. Founded in 2007, it’s now the largest forex broker in the world by volume, hitting $1.64 trillion in trades in April 2024 alone.

BlackBull Markets, launched in 2014, has carved out a strong presence, especially in the Asia-Pacific region. But if I’m being honest, it’s not yet on the same global level as IC Markets.

Reviews

On Trustpilot, IC Markets scores 4.8, reflecting consistently high praise for platform stability, support quality, and overall trading experience. BlackBull Markets holds a respectable 4.1, but the narrative writes itself: IC Markets has earned stronger, more consistent feedback from its global client base.

Verdict

IC Markets has much stronger regulation and a higher trust score, which translates to more credibility and protection than BlackBull.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

6. Most Popular Broker – IC Markets

Based on Google-branded search volume, IC Markets is the clear leader in trader interest worldwide.

It gets over 20 times more searches than BlackBull in key markets like the UK, Thailand, and consistently outperforms across Europe, Asia, and Latin America. Even in Australia and New Zealand, where BlackBull is locally based, IC Markets is competitive or leads outright.

Country	IC Markets	BlackBull Markets
United Kingdom	33,100	1,600
South Africa	9,900	720
Thailand	8,100	210
India	8,100	1,300
Vietnam	8,100	70
Australia	6,600	1,900
United States	6,600	880
Spain	6,600	480
Germany	5,400	1,600
Pakistan	5,400	210
Brazil	4,400	110
France	4,400	210
United Arab Emirates	4,400	140
Morocco	4,400	90
Malaysia	3,600	170
Colombia	3,600	170
Italy	3,600	320
Indonesia	3,600	140
Singapore	3,600	110
Nigeria	3,600	170
Poland	2,900	170
Sri Lanka	2,900	70
Kenya	2,400	110
Mexico	2,400	480
Hong Kong	2,400	30
Netherlands	2,400	320
Philippines	2,400	50
Canada	2,400	590
Algeria	2,400	50
Bangladesh	1,900	70
Saudi Arabia	1,900	40
Peru	1,600	50
Egypt	1,600	40
Switzerland	1,600	140
Turkey	1,300	90
Argentina	1,300	170
Japan	1,300	50
Sweden	1,300	140
Ecuador	1,000	70
Taiwan	1,000	20
Dominican Republic	1,000	40
Portugal	1,000	70
Uzbekistan	1,000	30
Cyprus	880	170
Ghana	880	50
Ireland	880	70
Mongolia	720	10
Chile	720	50
Venezuela	720	50
Ethiopia	720	20
Uganda	720	50
Austria	720	210
Greece	720	90
Jordan	590	10
Mauritius	480	10
Costa Rica	390	10
Tanzania	320	30
Bolivia	260	30
Botswana	260	30
Panama	260	10
New Zealand	210	1,900
Cambodia	170	10

2024 Monthly Searches For Each Brand

IC Markets - UK	33,100 1st
BlackBull Markets - UK	1,600 2nd
IC Markets - Thailand	8,100 3rd
BlackBull Markets - Thailand	210 4th
IC Markets - Australia	6,600 5th
BlackBull Markets - Australia	1,900 6th
IC Markets - UAE	4,400 7th
BlackBull Markets - UAE	140 8th

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Verdict

To put it simply, more traders are actively looking for and trading with IC Markets.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

7. Top Product Range And CFD Markets – IC Markets

IC Markets offers the broader, more diversified product lineup hands down. With 61 forex pairs, 23 cryptocurrencies, and 2,100+ share CFDs, it provides more instruments across every major asset class. You also get exposure to 25 indices, metals and commodities, plus 9 bonds and 22 futures contracts, including treasuries.

BlackBull offers a good number of shares and forex pairs, but its product range is narrower compared to IC’s. You only get access to a handful of crypto pairs, indices, bonds, treasuries, and commodities.

Verdict

If you’re after market depth and instrument diversity, IC Markets offers more trading opportunities.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

8. Superior Educational Resources – BlackBull Markets

BlackBull Markets offers a far more complete and structured education experience. Their Education Hub covers forex, crypto, commodities, and shares with tutorials, trading videos, podcasts, webinars, and regular market analysis.

Looking at IC Markets, they offer only basic materials like a few articles on forex and CFD advantages, plus a Web TV feed. It’s minimal and lacks the depth modern traders expect.

Verdict

If education matters to you as a beginner or someone refining strategy, BlackBull Markets is the better-equipped broker.

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9. Superior Customer Service – IC Markets

IC Markets takes the lead on customer support in my opinion. They offer 24/7 live chat, email, and phone support, with multilingual agents who actually know the platforms. You can reach them anytime, even on Sundays, which is important if you’re trading crypto or need urgent help outside market hours.

BlackBull also offers solid support via chat, email, phone, and even WhatsApp (which is handy). But they’re only available 24/6 so that missing day can be a problem if you’re trading anything that moves outside the standard forex week.

Verdict

For round-the-clock assistance and consistently high service standards, IC Markets comes out on top.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

10. Better Funding Options – IC Markets

IC Markets has a massive range of payment options with zero deposit fees, and a broad global coverage.

You get instant processing on Visa, Mastercard, PayPal, Google Pay, Apple Pay, Skrill, Neteller, and even crypto deposits (BTC, ETH, USDT, and more). Bank transfers are also supported, with multi-currency support.

In total, IC Markets supports everything from local bank transfers in India, SEPA in Europe, Boleto in Brazil, to niche options like FasaPay, Help2Pay, FXPay, and HexoPay. Most methods have instant approval, and minimum deposits start as low as $1.

BlackBull also offers credit cards, bank transfers, and standard e-wallets like Skrill and Neteller (no PayPal), but lacks the depth of regional methods.

Verdict

With zero fees, near-instant processing, and unmatched currency and region support, IC Markets easily takes the win for funding and payments.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

11. Lower Minimum Deposit – BlackBull Markets

BlackBull Markets technically offers the lower entry point with a $0 minimum deposit, while IC Markets requires $200 to get started. That makes BlackBull more accessible for traders who want to open an account without funding right away.

However, I recommend a $500 deposit for BlackBull to properly support margin and trade sizing, specifically if you’re trading anything beyond micro lots. For IC, I think the $200 required minimum is enough to get started but if you have the capital, $500 is what I recommend.

Verdict

BlackBull wins on minimum deposit, but in a real trading scenario, both need $500 to trade properly and manage risk.

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So Is IC Markets or Blackbull Markets The Best Broker?

After breaking it all down, IC Markets comes out on top. It’s the most complete broker across nearly every key aspect I’ve looked at, and it’s the best especially for active traders who care about costs and execution.

BlackBull Markets: Best For Beginner Traders

Blackbull has better educational resources, and a bunch of user-friendly platforms and features that beginner traders will find very helpful.

IC Markets: Best For Experienced Traders

For experienced traders who prioritise a wide product range, low fees, and advanced trading tools, IC Markets stands out as the best choice.