This BlackBull Markets vs IG review looks at how an STP forex broker compares to a market maker. Both brokers have MT4 with IG having 3 other trading platforms and BlackBull The brokers also offer over 60 forex pairs.
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When it comes to forex trading, the spread is a crucial factor that can significantly impact your trading experience and profitability. In the case of BlackBull Markets and IG Markets, both brokers offer competitive spreads, but there are some differences.
BlackBull Markets, a well-known forex broker, offers an average spread of 0.85 pips on the EUR/USD pair. This is quite competitive and can be beneficial for traders who trade frequently or in large volumes. However, it’s worth noting that the spread can vary depending on market conditions and the type of account you have.
On the other hand, IG Markets, another reputable forex broker, offers an even more competitive average spread of 0.75 pips on the EUR/USD pair. This lower spread can result in significant savings over time, especially for high-volume traders.
Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. Blackbull Markets and IG have quite competitive spreads, but there are some differences worth noting.
Blackbull Markets has slightly higher spreads for the EUR/USD and USD/JPY pairs compared to IG. However, when we look at the AUD/USD pair, Blackbull Markets has a significantly higher spread. This could be a deciding factor for traders who frequently trade these pairs.
| Forex Pair | Blackbull Markets | IG | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.13 | 1.18 |
| USD/JPY | 1.3 | 1.12 | 1.37 |
| GBP/USD | 1.4 | 1.66 | 1.51 |
| AUD/USD | 1.7 | 1.01 | 1.41 |
| USD/CAD | 1.5 | 1.98 | 1.70 |
| EUR/GBP | 1.5 | 1.71 | 1.56 |
| EUR/JPY | 1.9 | 2.27 | 1.85 |
| AUD/JPY | 2.1 | 1.62 | 2.09 |
Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data
On the other hand, IG seems to have higher spreads for the GBP/USD and USD/CAD pairs. This might make Blackbull Markets a more attractive option for traders focusing on these pairs.
When we compare these two brokers to the industry average, both are quite competitive. IG has lower spreads for the EUR/USD, AUD/USD, and AUD/JPY pairs, while Blackbull Markets has lower spreads for the GBP/USD and USD/CAD pairs.
In conclusion, the choice between Blackbull Markets and IG might come down to which forex pairs you trade most frequently. Both brokers offer competitive spreads compared to the industry average, so you can’t go wrong with either choice.
In addition to spreads, the commission is another cost that traders need to consider. BlackBull Markets charges a commission of $9.00 per lot, which is slightly higher than the industry average. This commission applies to their ECN Prime and ECN Institutional accounts, while their Standard account is commission-free but comes with slightly higher spreads.
In contrast, IG Markets operates on a spread-only basis for their standard account, meaning they do not charge a commission. This can be advantageous for traders who prefer a simpler pricing structure. However, they do offer a DMA account where a commission is charged, but you get access to tighter spreads.
Verdict: When it comes to spreads and fees, IG Markets takes the win due to their lower average spread and commission-free trading on their standard account.
| Broker | Average Spread (EUR/USD) | Commission |
|---|---|---|
| BlackBull Markets | 0.85 pips | $9.00 per lot |
| IG Markets | 0.75 pips | No commission |
The trading environment is a crucial aspect that can significantly impact your trading experience. This includes factors like execution speed, slippage, and the stability of the trading platform.
BlackBull Markets excels in this area, offering one of the fastest execution speeds in the industry. This is particularly important for scalpers and high-frequency traders where every millisecond counts. Fast execution speeds can help to reduce slippage and ensure that your orders are filled at the requested price.
On the other hand, IG Markets, while not as fast as BlackBull Markets, still offers a reliable and efficient trading environment. Their trading platform is stable and user-friendly, and they offer a range of trading tools to help you make informed trading decisions.
Verdict: In terms of the trading environment, BlackBull Markets comes out on top due to their superior execution speed.
| Broker | Execution Speed |
|---|---|
| BlackBull Markets | Fastest |
| IG Markets | Fast |
Both BlackBull Markets and IG Markets offer MetaTrader 4, the most popular trading platform among forex traders. This platform is known for its advanced charting features, automated trading capabilities, and a large community of users who share strategies and trading robots.
However, IG Markets also provides its proprietary platform, which comes with a range of additional features and tools. This includes advanced charting, a wide range of technical indicators, and the ability to trade directly from charts. Additionally, IG Markets’ platform is web-based, meaning you can access it from any device without needing to install any software.
Verdict: When it comes to trading platforms, IG Markets wins due to their proprietary platform that offers additional features not available on MetaTrader 4.
| Broker | TradingPlatforms |
|---|---|
| BlackBull Markets | MetaTrader 4 |
| IG Markets | MetaTrader 4, Proprietary platform |
BlackBull Markets offers three types of accounts: Standard, Prime, and Institutional. The Standard account is perfect for beginners with no commission and higher spreads. The Prime account, with a commission and lower spreads, is suitable for more experienced traders. The Institutional account, designed for professional traders, offers the lowest spreads and a commission.
IG Markets, on the other hand, offers two main types of accounts: CFD and Spread Betting. The CFD account allows you to trade contracts for difference on a wide range of markets, while the Spread Betting account is designed for UK residents and offers tax-free trading.
Verdict: In terms of account types, BlackBull Markets wins due to its wider range of account options catering to different types of traders.
| Broker | Account Types |
|---|---|
| BlackBull Markets | Standard, Prime, Institutional |
| IG Markets | CFD, Spread Betting |
Trust and regulation are crucial factors when choosing a forex broker. Both BlackBull Markets and IG Markets are regulated by reputable financial authorities. BlackBull Markets is regulated by the New Zealand Financial Markets Authority, while IG Markets is regulated by the UK’s Financial Conduct Authority and several other regulatory bodies worldwide.
Verdict: In terms of trust and regulation, it’s a tie. Both brokers are regulated by reputable financial authorities, ensuring a high level of investor protection.
| Broker | Regulatory Authority |
|---|---|
| BlackBull Markets | New Zealand Financial Markets Authority |
| IG Markets | UK’s Financial Conduct Authority |
Customer service is crucial in forex trading, where issues need to be resolved quickly to prevent potential losses. Both BlackBull Markets and IG Markets offer excellent customer service, with multiple channels of communication and quick response times. However, IG Markets offers 24/7 customer support, while BlackBull Markets’ support is available 24/5.
Verdict: IG Markets wins this category due to their round-the-clock support.
| Broker | Customer Service Availability |
|---|---|
| BlackBull Markets | 24/5 |
| IG Markets | 24/7 |
When it comes to minimum deposit levels, BlackBull Markets requires a minimum deposit of $200, while IG Markets requires a minimum deposit of $300. Therefore, BlackBull Markets is more accessible for traders with smaller budgets.
Both BlackBull Markets and IG Markets offer a variety of payment methods, including credit card, bank transfer, and e-wallets. However, IG Markets offers a slightly wider range of payment options, giving them the edge in this category.
Verdict: In terms of other trading factors, BlackBull Markets wins in the minimum deposit category, while IG Markets wins in the payment methods category.
| Broker | Minimum Deposit | Payment Methods |
|---|---|---|
| BlackBull Markets | $200 | Credit card, Bank transfer, E-wallets |
| IG Markets | $300 | Credit card, Bank transfer, E-wallets, Additional options |
Black Markets ReviewVisit Black Markets
In conclusion, both BlackBull Markets and IG Markets are excellent forex brokers, each with their strengths. However, based on our comparison, IG Markets wins in more categories, making them the overall winner. However, BlackBull Markets’ superior execution speed and lower minimum deposit make them a strong contender, especially for traders who value fast order execution and lower starting costs.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
