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 offers over 60 forex pairs. See how each broker compares.
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Our full comparison covers the 10 most important trading factors. Here are five noticeable differences between BlackBull Markets and IG:
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.
Standard Account Spreads
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 2024[1]September 2024 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.
Commission
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 |
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 differences 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 |
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 its superior execution speed.
| Broker | Execution Speed |
|---|---|
| BlackBull Markets | Fastest |
| IG Markets | Fast |
BlackBull Markets Trust Score
IG Group Trust Score
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.
| BlackBull Markets | IG Group | |
|---|---|---|
| Tier 1 Regulation | FMA (New Zealand) | ASIC (Australia) FCA (UK) BaFin (Germany) FINMA (Switzerland) NFA/CFTC (USA) CYSEC (Cyprus) MAS (Singapore) FMA (New Zealand) |
| Tier 2 Regulation | JFSA (Japan) DFSA (Dubai) |
|
| Tier 3 Regulation | FSA-S (Seychelles) | BMA (Bermuda) FSCA (South Africa) |
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.
When it comes to the range of products and CFD markets, both BlackBull Markets and IG Markets have a lot to offer. However, there are some differences in their offerings that traders should be aware of.
Here’s a comparative table showcasing the range of CFDs, products, and markets available with both brokers:
| Product/Market | BlackBull Markets | IG Markets |
|---|---|---|
| Forex Pairs | 64 | 80 |
| Indices | 12 | 22 |
| Commodities | 15 | 20 |
| Cryptocurrencies | 5 | 8 |
| Shares | 150+ | 10,000+ |
| Bonds | 2 | 5 |
| ETFs | 10 | 50 |
| Options | Not Available | 20 |
| Futures | Not Available | Available |
| Spread Betting | Not Available | Available |
| Binary Options | Not Available | Not Available |
Verdict
In terms of sheer numbers, IG Markets clearly offers a more extensive range of CFDs and markets compared to BlackBull Markets. However, traders should also consider other factors like trading conditions, fees, and platform features before making a decision.
Both BlackBull Markets and IG Markets are renowned for their commitment to educating traders. Their educational resources are tailored to cater to both beginners and experienced traders. Here’s a comparison based on our own testing:
Verdict
Based on our team’s scoring from the testing, IG Markets slightly outperforms BlackBull Markets in terms of the breadth and depth of their educational resources.
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 |
Both BlackBull Markets and IG Markets offer a variety of payment methods, including credit cards, bank transfers, 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, 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 |
Both BlackBull Markets and IG Group have a minimum deposit requirement of $0. Interestingly, this minimum is only for bank wire transactions for both brokers.
BlackBull Markets
| Minimum Deposit | GBP | USD | EUR | AUD |
|---|---|---|---|---|
| Credit Card / Debit Card | £50 | $50 | €50 | $50 |
| Bank Wire | £0 | $0 | €0 | $0 |
| Skrill | £50 | $50 | €50 | $50 |
| Neteller | £50 | $50 | €50 | $50 |
IG Group
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £250 Minimum Deposit | $50 Minimum Deposit | €300 Minimum Deposit | $100 |
| Paypal | £250 Minimum Deposit | $50 Minimum Deposit | €300 Minimum Deposit | $100 |
| Bank Wire | £0 Minimum Deposit | $250 Minimum Deposit | €0 Minimum Deposit | $0 |
| Skrill | N/A | N/A | N/A | N/A |
Verdict
When it comes to basic trading accounts, both BlackBull Markets and IG Markets offer a $0 minimum deposit. However, for advanced accounts, BlackBull Markets has a higher threshold compared to IG Markets.
IG Group is the winner because it outperforms BlackBull Markets in a majority of the categories we’ve evaluated. The table below summarises the key information leading to this verdict:
| Criteria | IG Markets | BlackBull Markets |
|---|---|---|
| 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 | ✅ | ❌ |
For those just starting out in the trading world, IG offers a more comprehensive and user-friendly platform, making it the better choice for beginner traders.
For seasoned traders looking for advanced features and a robust trading environment, BlackBull Markets stands out as the preferred choice.
IG Markets generally offers lower costs compared to BlackBull Markets. They have competitive spreads and are known for their transparency in pricing. For traders who are particularly cost-conscious, understanding the spread dynamics is crucial. You can find a detailed comparison of brokers with the lowest spreads on our Lowest Commission Brokers page.
Both IG Markets and BlackBull Markets support MetaTrader 4, but BlackBull Markets is often praised for its seamless MT4 integration and enhanced features. MetaTrader 4 remains a popular choice among traders globally. For a comprehensive list of the best MT4 brokers, you can visit our best MT4 brokers.
BlackBull Markets stands out when it comes to offering social or copy trading options. They have integrated platforms like Myfxbook and ZuluTrade, allowing traders to follow and replicate strategies of successful traders. Social trading can be a game-changer, especially for new traders. For more insights on the best platforms for social trading, check out our best social trading platforms guide.
IG Markets offers spread betting to its clients. Spread betting is a popular form of trading in the UK, allowing traders to speculate on the price movements of various financial instruments without owning the underlying asset.
In my opinion, BlackBull Markets has a slight edge for Australian Forex traders. Both brokers are ASIC regulated, ensuring a high level of trust and security for traders. However, BlackBull Markets was founded in New Zealand and has a strong presence in the Australian market, while IG Markets is headquartered overseas. For a deeper dive into the best options for Australian traders, you can check out our Best Forex Brokers In Australia guide.
Personally, I believe IG Markets stands out for UK Forex traders. Both brokers are FCA regulated, which is a testament to their commitment to maintaining high standards of operation and customer protection. However, IG Markets, founded in the UK, has a long-standing reputation and a deep understanding of the UK trading environment. For those in the UK looking to explore their options further, our Best Forex Brokers In UK guide offers a detailed comparison.
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
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