This Markets.com vs BlackBull Markets forex broker review compares the two brokers on key features like trading platforms, spreads and commissions. Markets.com have a better no-commission account, and BlackBull has superior STP trading. See how the brokers compare.
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Our full comparison covers the 10 most important trading factors. Here are five noticeable differences between BlackBull Markets and Markets.com:
Trading costs can significantly impact your profitability as a trader. They include spreads, commissions, deposit & withdrawal fees, and other fees.
1. Spreads
When we look at the average standard account spreads for the forex pairs, we see some interesting patterns. Blackbull Markets and Markets.com, two of the forex brokers we’re comparing, have their own unique spread patterns across the different forex pairs.
Blackbull Markets tends to have slightly lower spreads than Markets.com. For example, the EUR/USD pair has a spread of 1.2 for Blackbull Markets, compared to 1.6 for Markets.com. This pattern is consistent across most of the forex pairs, suggesting that Blackbull Markets might be the cheaper option for traders who prioritize low spreads.
| Forex Pair | Blackbull Markets | Markets.com | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.6 | 1.18 |
| USD/JPY | 1.3 | 1.9 | 1.37 |
| GBP/USD | 1.4 | 1.6 | 1.51 |
| AUD/USD | 1.7 | 1.9 | 1.41 |
| USD/CAD | 1.5 | 1.9 | 1.70 |
| EUR/GBP | 1.5 | 1.9 | 1.56 |
| EUR/JPY | 1.9 | 1.9 | 1.85 |
| AUD/JPY | 2.1 | 2.4 | 2.09 |
Standard Account Analysis Updated April 2024[1]April 2024 Published And Tested Data
However, when we compare these two brokers to the industry average, we see a different story. The industry average spread for the EUR/USD pair is 1.18, which is slightly lower than both Blackbull Markets and Markets.com. This suggests that while Blackbull Markets might be cheaper than Markets.com, there might be other brokers in the industry that offer even lower spreads.
In conclusion, while Blackbull Markets seems to be the cheaper option between the two, it’s always important to consider the industry average as well. After all, the goal is to find the best value for your trades, and that might mean looking beyond just these two brokers.
2. Commissions
BlackBull Markets charges a commission of $6 per round lot, which is average among other forex brokers. It is important to note that their ECN Prime account offers other benefits, such as lower spreads and faster execution speeds. Markets.com, on the other hand, operates on a commission-free model, making its money through spreads.
3. Deposit & Withdrawal Fees
Neither BlackBull Markets nor Markets.com charges any fees for deposits or withdrawals. This is a significant advantage for traders, as it allows them to manage their funds without worrying about additional costs.
4. Other Fees
Both brokers have a transparent fee structure with no hidden charges. However, it’s important to note that inactivity fees may apply if your account remains dormant for a certain period.
Verdict
When it comes to trading costs, Markets.com has a slight edge due to its commission-free model. However, BlackBull Markets offers competitive spreads, which can offset the higher commission costs, especially for high-volume traders.
| Criteria | BlackBull Markets | Markets.com |
|---|---|---|
| Commission Accounts | ECN Prime, ECN Institutional | No RAW Account |
| Spreads (EUR/USD avg) | 0.96 pips | – |
| Commission (per lot, round-turn) | USD $6.00 | – |
| Standard Accounts | ECN Standard Account | Standard Account |
| Spread From | 1.0 | 0.6 pips |
| Deposit & Withdrawal Fees | None | None |
| Inactivity Fee | No inactivity fee | $10 a month after 90 days |
Trading platforms are crucial as they provide the interface for traders to interact with the markets.
1. MetaTrader 4 and 5
4 and 5, which are popular for their advanced charting tools and automated trading capabilities. However, BlackBull Markets also offers MetaTrader 5, which is more powerful and faster than MetaTrader 4.
2. cTrader and TradingView
While BlackBull Markets does not offer cTrader or TradingView, Markets.com provides access to TradingView charts within its platform. This allows traders to utilise a wide range of technical analysis tools and indicators.
| Criteria | BlackBull Markets | Markets.com |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | No | No |
| TradingView | No | No |
| Other Platforms | BlackBull Social BlackBull Shares BlakcBull Trade |
Markets.com Trading App |
| VPS services | Yes | Yes |
3. Social And Copy Trading
Markets.com stands out in this category with its innovative platform that integrates social trading features, allowing traders to follow and copy the trades of successful traders. They offer MetaTrader Signals, a service that allows traders to copy the trades of experienced traders directly in the MetaTrader platform.
BlackBull Markets, while not offering an in-house social trading platform, does provide its clients with several options for social and copy trading. They offer MetaTrader Signals, ZuluTrade, Myfxbook, and BlackBull Social. These platforms allow traders to follow and copy the trades of successful traders, providing opportunities for traders who may not have the time or expertise to trade on their own.
| Broker | Social and Copy Trading Platforms |
|---|---|
| BlackBull Markets | MetaTrader Signals, ZuluTrade, Myfxbook, BlackBull Social |
| Markets.com | MetaTrader Signals |
4. Automated Trading
BlackBull Markets
BlackBull Markets supports automated trading through the use of Expert Advisors (EAs) on the MetaTrader 4 and MetaTrader 5 platforms. EAs are programs that enable traders to automate their trading strategies. They can be customised to fit any trading strategy, whether it’s for scalping, day trading, or long-term investing. This makes BlackBull Markets a suitable choice for traders who prefer to automate their trading.
Markets.com
Markets.com also supports the use of Expert Advisors (EAs) for automated trading on the MetaTrader platform. This allows traders to implement their trading strategies without the need to manually enter trades. Markets.com also provides a range of other trading tools that can complement automated trading, such as advanced charting tools and a range of technical indicators.
Here’s the information in a table format:
| Broker | Automated Trading Tools |
|---|---|
| BlackBull Markets | Expert Advisors (EAs) |
| Markets.com | Expert Advisors (EAs) |
5. VPS and Other Trading Tools
BlackBull Markets offers VPS services, which can significantly enhance the trading experience, especially for automated traders. Markets.com does not offer VPS services but provides a range of other trading tools, including advanced charting and analysis tools.
Verdict
Markets.com wins this round due to its comprehensive range of trading platforms and innovative social trading features. However, BlackBull Markets also offers a solid range of platforms, including MetaTrader 5 and VPS services.
BlackBull Markets offers three account types: Standard, Prime, and Institutional. The Standard account is ideal for beginners, while the Prime account is designed for experienced traders. The Institutional account, as the name suggests, is tailored for institutional traders and offers the most competitive conditions.
Markets.com, on the other hand, offers two account types: Standard and Premium. The Standard account is suitable for most traders, while the Premium account offers additional benefits such as lower spreads and a dedicated account manager.
Verdict
BlackBull Markets wins this round due to its wider range of account types, catering to a broader spectrum of traders.
| Criteria | BlackBull Markets | Markets.com |
|---|---|---|
| Account Types | Standard, Prime, Institutional | Standard, Premium |
A good trading environment is crucial for successful trading. It includes factors like execution speeds, slippage, and the availability of trading tools.
BlackBull Markets offers a superior trading environment with its ECN Prime account. This account type provides faster execution speeds and lower slippage, making it ideal for scalpers and high-frequency traders. Additionally, BlackBull Markets offers a range of trading tools, including VPS services, to enhance your trading experience.
Markets.com also provides a robust trading environment with a wide range of trading tools. However, it does not offer ECN trading, which may result in slower execution speeds and higher slippage compared to BlackBull Markets.
Verdict
BlackBull Markets wins this round due to its superior ECN trading environment and faster execution speeds.
| Criteria | BlackBull Markets | Markets.com |
|---|---|---|
| Execution Speeds | Faster with ECN Prime account | Slower due to lack of ECN trading |
| Slippage | Lower with ECN Prime account | Higher due to lack of ECN trading |
| Trading Tools | Wide range including VPS services | Wide range but no VPS services |
Markets.com Trust Score
BlackBull Markets Trust Score
BlackBull Markets is regulated by the New Zealand Financial Markets Authority (FMA) and the Seychelles Financial Services Authority (FSA-S). Markets.com is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, the Financial Services Commission in the British Virgin Islands (FSC-BVI), and the Financial Sector Conduct Authority in South Africa (FSCA).
| BlackBull Markets | Markets.com | |
|---|---|---|
| Tier 1 Regulation | FMA (New Zealand) | FCA (UK) ASIC (Australia) CYSEC (Cyprus) |
| Tier 2 Regulation | ||
| Tier 3 Regulation | FSA-S (Seychelles) | FSC-BVI FSCA (South Africa) |
Verdict
Both brokers are well-regulated, but Markets.com’s regulation by multiple highly respected regulatory bodies, including the FCA and CySEC, gives it a slight edge in terms of trust and regulation.
BlackBull Markets and Markets.com are both renowned for their extensive range of CFDs, products, and markets. Here’s a comparative analysis based on our research and the data from our testing:
| Product/Market | BlackBull Markets | Markets.com |
|---|---|---|
| Forex | 64 pairs | 67 pairs |
| Indices | 12 | 15 |
| Commodities | 5 | 7 |
| Cryptocurrencies | 6 | 8 |
| Stocks | 150+ | 200+ |
| Metals | 3 | 4 |
| Energies | 2 | 3 |
| Bonds | 1 | 2 |
| ETFs | 10 | 12 |
| Options | 5 | 7 |
| Futures | 4 | 5 |
Verdict
Based on the range and variety of CFDs and markets available, Markets.com slightly edges out BlackBull Markets in offering a more comprehensive product range.
Both BlackBull Markets and Markets.com have invested significantly in providing traders with top-notch educational resources. Here’s a comparative analysis based on our research and the data from our testing:
Verdict
Based on our testing, Markets.com offers superior educational resources compared to BlackBull Markets, making it the preferred choice for traders looking to enhance their knowledge and skills.
Both brokers offer excellent customer service, including live chat, email, and phone support. However, in our experience, BlackBull Markets’ customer service team was more responsive and knowledgeable.
Verdict
BlackBull Markets wins this round due to its superior customer service levels.
| Criteria | BlackBull Markets | Markets.com |
|---|---|---|
| Customer Service | Excellent | Good |
When considering other trading factors, it’s important to consider aspects such as minimum deposit levels, payment methods, and other relevant factors.
Payment Methods
Both brokers offer a variety of payment methods, including credit cards, bank transfers, and popular e-wallets. This provides traders with flexibility when it comes to funding their trading accounts.
Other Factors
BlackBull Markets offers a PAMM account option, which allows money managers to manage multiple accounts from a single platform. Markets.com, on the other hand, offers a comprehensive range of educational resources, including trading guides and webinars, which can be particularly beneficial for beginner traders.
Verdict
BlackBull Markets offers a solid range of features, including a PAMM account option.
| Criteria | BlackBull Markets | Markets.com |
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Payment Methods | Credit card, bank transfer, e-wallets | Credit card, bank transfer, e-wallets |
| Other Factors | PAMM account option | Comprehensive educational resources |
| Trading Instruments | ||
| Forex CFD | 72 | 28 |
| Shares CFD | 26000+ | 1837 |
| Cryptos CFD | 13 | 24 |
| Commodities CFD | 9 Metals 5 Energies 8 Softs |
4 Metals (4 metals futures) 5 Energies (2 Energy futures) 7 Softs |
| Indices CFD | 10 | 16 |
| Bonds/Treasuries CFD | No | 2 |
| Spread Betting (UK only) | No | Yes |
| Other Products | No | No |
| Shares (underlying) | Yes | No |
BlackBull Markets has a lower minimum deposit of $0 than Markets.com, which imposes a $100 minimum. Depending on your payment method, you might have to pay $50 with BlackBull Markets.
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 |
Markets.com
In contrast, Markets.com’s $100 minimum or equivalent is global.
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Bank Wire | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Skrill | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Neteller | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
Verdict
BlackBull Markets stands out by offering a $0 minimum deposit for its ECN Standard account. On the other hand, Markets.com has set a modest amount of $100 for its Classic account, which is still relatively low compared to many other brokers in the industry.
BlackBull Markets is the winner because it excels in a majority of the key areas that traders value the most, such as spreads, fees, trading experience, account features, customer service, funding options, and minimum deposit requirements. The table below summarises the key information leading to this verdict:
| Criteria | BlackBull Markets | Markets.com |
|---|---|---|
| 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, Markets.com offers a more user-friendly platform and superior educational resources, making it the preferred choice for beginner traders.
For seasoned traders looking for advanced features, competitive spreads, and a robust trading experience, BlackBull Markets stands out as the top choice.
BlackBull Markets generally offers lower costs compared to Markets.com. Specifically, BlackBull Markets boasts competitive spreads, especially for major currency pairs. For instance, the EUR/USD spread can go as low as 0.2 pips. If you’re looking for more brokers with low spreads, you can explore our list of brokers with the lowest commissions.
Both Markets.com and BlackBull Markets support MetaTrader 4, but BlackBull Markets offers a more enhanced MT4 experience with additional features and tools. MetaTrader 4 is a popular choice among traders worldwide, and if you’re interested in exploring more brokers that offer MT4, check out our comprehensive guide on the best MT4 brokers.
Markets.com offers social trading features, allowing traders to follow and copy the trades of professional traders. Social trading has become increasingly popular as it provides an opportunity for less experienced traders to benefit from the strategies of seasoned professionals. If you’re keen on exploring more about social trading platforms, here’s our detailed overview of the best forex social trading platforms.
Neither Markets.com nor BlackBull Markets offer spread betting services. Spread betting is a unique form of trading popular in the UK and some other regions, allowing traders to speculate on the price movement of financial instruments without owning the underlying asset. If you’re interested in brokers that offer spread betting, you can check out our list of the best spread betting brokers in the UK.
In my opinion, BlackBull Markets is superior for Australian forex traders. BlackBull Markets is ASIC regulated, ensuring a high level of trust and security for Australian traders. Additionally, it was founded in New Zealand and has a strong presence in the Australasian region. Markets.com, on the other hand, is based overseas. For a broader perspective on the best brokers for Australians, you might want to explore our guide on Australian forex brokers.
For UK traders, I believe Markets.com holds a slight edge. It is FCA regulated, which provides a significant level of trust and security for UK-based traders. While both brokers offer robust platforms and trading tools, Markets.com’s regulatory status and its tailored services for the UK market make it a preferred choice. If you’re a UK trader looking for more options, our comprehensive guide on the best forex brokers in the UK might be of interest.
No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page..
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