This BlackBull Markets vs Plus500 review found that BlackBull has STP trading with MT4 and MT5 while Plus500 has no commission trading, its own trading platform and guaranteed stop loss. See which broker we like best.
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Our full comparison covers the 10 most important trading factors. Here are five noticeable differences between BlackBull Markets and Plus500:
When it comes to trading costs, both brokers have their unique fee structures.
1. Spreads
When we look at the average standard account spreads for the forex pairs, we see some interesting differences between Blackbull Markets and Plus500.
Blackbull Markets tends to have lower spreads across most forex pairs. For instance, the EUR/USD spread is 1.2 for Blackbull Markets, compared to 1.7 for Plus500. This trend continues across other pairs, such as GBP/USD and AUD/USD. This suggests that Blackbull Markets might offer more competitive pricing for these pairs.
| Forex Pair | Blackbull Markets | Plus500 | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.7 | 1.18 |
| USD/JPY | 1.3 | 1.9 | 1.37 |
| GBP/USD | 1.4 | 2.3 | 1.51 |
| AUD/USD | 1.7 | 1.4 | 1.41 |
| USD/CAD | 1.5 | 2.0 | 1.70 |
| EUR/GBP | 1.5 | 1.7 | 1.56 |
| EUR/JPY | 1.9 | 2.4 | 1.85 |
| AUD/JPY | 2.1 | 3.0 | 2.09 |
Standard Account Analysis Updated September 2024[1]September 2024 Published And Tested Data
However, Plus500 has a lower spread for the AUD/USD pair, which is 1.4 compared to Blackbull’s 1.7. This indicates that for traders who frequently trade this pair, Plus500 might be a more cost-effective choice.
When we compare these brokers to the industry average, we see that both brokers have spreads that are in line with or better than the average. This suggests that both brokers offer competitive pricing. However, the specific choice of broker might depend on the specific forex pairs that a trader is interested in.
In conclusion, while both brokers offer competitive spreads, Blackbull Markets generally offers lower spreads across most forex pairs. However, for traders who frequently trade the AUD/USD pair, Plus500 might be a more cost-effective choice. As always, it’s important for traders to consider their specific trading needs and preferences when choosing a broker.
2. Commissions
BlackBull Markets charges a commission of $6 per round lot traded on its ECN Prime and Institutional accounts. Plus500 operates on a spread-only model and does not charge any commissions.
3. Deposit & Withdrawal Fees
Neither BlackBull Markets nor Plus500 charges any fees for deposits or withdrawals. However, it’s important to note that your bank or payment provider may charge a fee.
4. Other Fees
Plus500 charges an inactivity fee if you do not log into your trading account for three months. BlackBull Markets does not charge an inactivity fee.
Verdict
When it comes to trading costs, BlackBull Markets offers lower spreads and commissions, making it the more cost-effective choice for active traders.
| Criteria | BlackBull Markets | Plus500 |
|---|---|---|
| Spreads | From 0 pips | Dynamic |
| Commissions | $3 per side/$6 round lot | None |
| Deposit & Withdrawal Fees | None | None |
| Other Fees | None | Inactivity fee |
Black Markets ReviewVisit Black Markets
Trading platforms are the gateway to the forex market, and the choice of platform can significantly impact your trading experience.
1. MetaTrader 4 and 5
BlackBull Markets offers both MetaTrader 4 and MetaTrader 5, the world’s most popular forex trading platforms known for their advanced charting tools and automated trading capabilities. Plus500, on the other hand, does not offer MetaTrader platforms but rather an in-house technology forex web trader.
2. cTrader and TradingView
Neither BlackBull Markets nor Plus500 offer cTrader or TradingView platforms.
| Criteria | BlackBull Markets | Plus500 |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | No |
| cTrader | No | No |
| TradingView | No | No |
| Other Platforms | BlackBull Social BlackBull Shares BlakcBull Trade |
No |
| VPS Services | Yes | Yes |
3. Social And Copy Trading
Plus500 does not offer social or copy trading features. BlackBull Markets, while it does not have built-in social trading features, is compatible with various third-party social trading platforms due to its use of MetaTrader.
BlackBull Markets offers a range of platforms, including MetaTrader Signals, ZuluTrade, MyFxBook, and BlackBull Social. Plus500, on the other hand, does not currently offer any social or copy trading platforms.
| Broker | Social and Copy Trading Platforms |
|---|---|
| BlackBull Markets | MetaTrader Signals, ZuluTrade, Myfxbook, BlackBull Social |
| Plus500 | – |
4. Automated Trading
BlackBull Markets supports the use of Expert Advisors (EAs), which are programs that enable automated trading on the MetaTrader platform. Plus500, on the other hand, does not currently offer any automated trading tools.
| Broker | Automated Trading Tools |
|---|---|
| BlackBull Markets | Expert Advisors (EAs) |
| Plus500 | – |
5. VPS and Other Trading Tools
BlackBull Markets offers free VPS services to clients who meet certain trading volume requirements, which is beneficial for traders using automated trading strategies. Plus500 does not offer VPS services.
Verdict
When it comes to trading platforms, BlackBull Markets is the clear winner with its offering of MetaTrader 4 and 5, compatibility with social trading platforms, and free VPS services for qualifying traders.
BlackBull Markets offers three account types: Standard, Prime, and Institutional, catering to different types of traders, from beginners to professionals. Plus500, on the other hand, offers a simpler account structure with a single live trading account and a demo account.
Verdict
BlackBull Markets wins this category with its range of account types catering to different trading needs.
| Criteria | BlackBull Markets | Plus500 |
|---|---|---|
| Account Types | Standard, Prime, Institutional | Single Live Account |
The trading environment is a crucial aspect to consider when choosing a forex broker. Our exclusive research on execution speeds shows that BlackBull Markets offers superior Execution Speeds, which is a significant advantage for traders who rely on quick order execution. Plus500, on the other hand, offers a user-friendly trading environment with its proprietary forex trading platform, which is suitable for beginner traders.
Verdict
For experienced traders looking for fast execution speeds, BlackBull Markets is the clear winner. However, for beginners who prioritise a user-friendly platform, Plus500 may be a better choice.
| Criteria | BlackBull Markets | Plus500 |
|---|---|---|
| Execution Speeds | Superior | Average |
| User-Friendly Platform | MetaTrader 4/5 | Proprietary Platform |
Plus500 Trust Score
BlackBull Markets Trust Score
Both BlackBull Markets and Plus500 are highly regulated. BlackBull Markets is regulated by the Financial Markets Authority (FMA) in New Zealand and the Financial Services Authority (FSA-S) in Seychelles.
Plus500 is regulated by several top-tier regulators including the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Markets Authority (FMA) in New Zealand, the Monetary Authority Singapore (MAS) in Singapore, the Seychelles Financial Services Authority (FSA-S) in Seychelles, and The Financial Sector Conduct Authority (FSCA) in South Africa.
| BlackBull Markets | Plus500 | |
|---|---|---|
| Tier 1 Regulation | FMA (New Zealand) | ASIC (Australia) FCA (UK) CYSEC (Cyprus) FMA (New Zealand) MAS (Singapore) |
| Tier 2 Regulation | DFSA (Dubai) EFSRA |
|
| Tier 3 Regulation | FSA-S (Seychelles) | FSA-S (Seychelles) FSCA (South Africa) |
Verdict
In terms of trust and regulation, Plus500 takes the lead with its multiple top-tier regulations across various jurisdictions. However, BlackBull Markets also offers strong regulatory oversight with its FMA and FSA-S regulations.
When it comes to the range of products and CFD markets, both BlackBull Markets and Plus500 have diverse features. Here’s a comparative table based on the data from our testing and the information provided on the respective broker’s website:
| Product/Market | BlackBull Markets | Plus500 |
|---|---|---|
| Forex Pairs | 64 | 70 |
| Commodities | 12 | 25 |
| Indices | 15 | 33 |
| Cryptocurrencies | 5 | 14 |
| Shares | 150+ | 2000+ |
| ETFs | 10 | 90 |
| Options | 0 | 5 |
| Bonds | 0 | 7 |
| Metals | 4 | 5 |
| Energies | 3 | 4 |
| Treasuries | 0 | 2 |
Verdict
Based on the comprehensive range of CFDs and markets available, Plus500 offers a broader selection compared to BlackBull Markets. However, traders should consider other factors like trading conditions, fees, and platform features before making a decision.
Both BlackBull Markets and Plus500 understand the importance of education for traders, especially those who are new to the world of forex and CFD trading. Here’s a comparison of the educational resources each broker offers based on our testing and the information provided on the respective broker’s website:
Verdict
Based on our testing, Plus500 slightly edges out BlackBull Markets in terms of the breadth and depth of educational resources offered.
Both brokers offer 24/5 customer support via live chat, email, and phone. However, Plus500 stands out with its comprehensive FAQ section and user-friendly platform that makes it easier for traders to find the information they need.
Verdict
Plus500 wins this category with its comprehensive customer support and user-friendly platform.
| Criteria | BlackBull Markets | Plus500 |
|---|---|---|
| Customer Support | 24/5 | 24/5 |
| User-Friendly Platform | MetaTrader 4/5 | Proprietary Platform |
Both brokers offer a variety of payment methods, including credit/debit cards, bank transfers, and e-wallets.
Leverage
BlackBull Markets offers leverage up to 1:500, while Plus500 offers leverage up to 1:30 for retail clients and up to 1:300 for professional clients.
Verdict
In terms of other trading factors, Plus500 offers higher leverage for professional clients, making it the winner in this category.
| Criteria | BlackBull Markets | Plus500 |
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Payment Methods | Multiple options | Multiple options |
| Leverage | Up to 1:500 | Up to 1:30 (retail), Up to 1:300 (professional) |
| Trading Instruments | ||
| Forex CFD | 72 | 65 |
| Shares CFD | 26000+ | 11,000+ |
| Cryptos CFD | 13 | 18 (+ Crypto 10) |
| Commodities CFD | 9 Metals 5 Energies 8 Softs |
5 Metals 7 Energies 10 Softs |
| Indices CFD | 10 | 65 |
| Bonds/Treasuries CFD | No | |
| Spread Betting (UK only) | No | No |
| Other Products | No | No |
| Shares (underlying) | Yes | No |
BlackBull Markets has a lower minimum deposit of $0 vs $100 from Plus500. While BlackBull Markets offers a $0 minimum deposit for its ECN Standard account, it requires a higher deposit for its more advanced accounts.
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 |
Plus500
On the other hand, Plus500 maintains a consistent minimum deposit requirement across its platform.
| GBP | USD | EUR | AUD | |
|---|---|---|---|---|
| Credit Card / Debit Card | £100 Minimum Deposit | $100 Minimum Deposit | €100 Minimum Deposit | $100 |
| Paypal | £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 |
Verdict
BlackBull Markets, with its ECN Standard account, has a $0 minimum deposit for traders looking for the lowest entry point, making it the more accessible option compared to Plus500’s $100 requirement.
BlackBull Markets is the winner because it offers a balanced combination of low spreads, advanced trading platforms, and a range of account types suitable for both beginners and experienced traders. The table below summarises the key information leading to this verdict:
| Criteria | BlackBull Markets | Plus500 |
|---|---|---|
| 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 world of trading, Plus500 offers a more user-friendly platform and a range of educational resources to help beginners get started.
For traders with more experience and looking for advanced tools and features, BlackBull Markets stands out as the preferred choice.
BlackBull Markets generally offers lower costs compared to Plus500. While both brokers have competitive spreads, BlackBull Markets provides more cost-effective options for traders, especially on their ECN accounts. For a detailed comparison of broker costs, you can refer to our guide on low commissions.
Both Plus500 and BlackBull Markets support MetaTrader 4, but BlackBull Markets provides a more enhanced experience with additional tools and features. Traders who prefer the MT4 platform will find BlackBull Markets to be a more suitable choice. For more insights on the best MT4 brokers, check out our comprehensive list of top MT4 brokers.
BlackBull Markets offers social trading options, allowing traders to follow and copy the strategies of experienced traders. Plus500, on the other hand, does not have a dedicated social trading platform. Social or copy trading can be a great way for beginners to learn from seasoned professionals. For those interested in exploring more about social trading platforms, our guide on the best social trading platforms provides valuable insights.
Plus500 offers spread betting, allowing UK traders to take advantage of tax benefits associated with this form of trading. BlackBull Markets, on the other hand, does not provide spread betting services. Spread betting can be a lucrative option for traders, especially in the UK where it’s tax-free. For a comprehensive list of the best spread betting brokers, you can check our guide on the best spread betting brokers in the UK.
In my opinion, BlackBull Markets stands out as the superior choice for Australian forex traders. Being founded in New Zealand and regulated by ASIC, they offer a sense of trust and reliability. Plus500, although a global player, is based overseas. For Australian traders, it’s essential to choose a broker that understands the local market nuances. If you’re an Australian trader looking for more options, our guide on the Best Forex Brokers In Australia provides a detailed comparison.
For UK traders, I believe Plus500 has the edge. They are FCA regulated and have a strong presence in the UK market, ensuring compliance with local regulations and offering a sense of security to traders. BlackBull Markets, while offering competitive services, is not based in the UK. UK traders should always prioritize brokers that are familiar with the local trading environment and regulations. For more insights on the best brokers in the UK, you can refer to our comprehensive list of the best forex brokers in UK.
No commission account spread propiety testing data and published wesbite spread information, centralised on our Standard Account Spreads page.
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