Dive into our detailed comparison of BlackBull Markets and FOREX.com. We cover everything from trading costs to platforms, helping you decide which broker is right for you.
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BlackBull Markets and FOREX.com are two renowned forex brokers in the trading industry. BlackBull Markets, a New Zealand-based broker, is known for its competitive spreads and ECN execution, while FOREX.com, a global player, is recognised for its broad range of trading platforms and extensive market coverage. The main differences lie in their trading costs, platform offerings, and regulatory oversight.
When it comes to trading costs, both brokers have their unique offerings.
Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. BlackBull Markets and FOREX.com have similar spreads for most forex pairs, with BlackBull Markets slightly edging out in some pairs like AUD/USD and USD/CAD. However, FOREX.com takes the lead in pairs like EUR/JPY and AUD/JPY.
“In the world of forex trading, even the smallest difference in spreads can have a significant impact on a trader’s profitability in the long run.”
Comparing these brokers to the industry average, both BlackBull Markets and FOREX.com are competitive, with their spreads often close to or even better than the industry average. However, it’s worth noting that FOREX.com tends to have higher spreads for some pairs, which could add up over time.[1]Standard account spreads published on each broker's website (updated monthly) plus our own testing
| Forex Pair | BlackBull Markets | FOREX.com | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 | 1.2 | 1.18 |
| USD/JPY | 1.3 | 1.5 | 1.37 |
| GBP/USD | 1.4 | 1.6 | 1.51 |
| AUD/USD | 1.7 | 1.4 | 1.41 |
| USD/CAD | 1.5 | 2.6 | 1.70 |
| EUR/GBP | 1.5 | 1.5 | 1.56 |
| EUR/JPY | 1.9 | 2.8 | 1.85 |
| AUD/JPY | 2.1 | 2.3 | 2.09 |
| OANDA | IC Markets | Industry Average | |
|---|---|---|---|
| EUR/USD | 0.6 | 0.62 | 1.24 |
| USD/JPY | 0.6 | 0.74 | 1.44 |
| GBP/USD | 0.9 | 0.83 | 1.44 |
| AUD/USD | 0.7 | 0.77 | 1.57 |
| USD/CAD | 0.7 | 0.85 | 1.54 |
| EUR/GBP | 0.8 | 1.27 | 1.82 |
| EUR/JPY | 0.9 | 1.3 | 1.66 |
| AUD/JPY | N/A | 1.5 | 1.95 |
“While both brokers offer competitive spreads, BlackBull Markets seems to have a slight edge in terms of cost-effectiveness.”
In conclusion, if cost-effectiveness is a major concern for you, BlackBull Markets might be the better choice. However, remember that spreads are just one factor to consider when choosing a forex broker. Other factors such as platform features, customer service, and regulatory status should also be taken into account.
For traders seeking lower spreads, BlackBull Markets offers a RAW ECN account with tighter spreads starting from 0.1 pips. FOREX.com, however, does not provide a similar account type.[2]Raw account spreads published on each broker's website (updated monthly) plus our own testing
BlackBull Markets charges a commission on its RAW ECN account, while FOREX.com operates on a spread-only pricing model for its standard account.[3]Commission rates taken from broker's website monthly
Neither BlackBull Markets nor FOREX.com charges any fees for deposits or withdrawals, which is a significant advantage for traders.
Both brokers do not charge any inactivity fees, but overnight or swap fees may apply for positions held open past the end of the trading day.
Verdict: When it comes to trading costs, BlackBull Markets seems to have a slight edge due to its lower spreads on the RAW ECN account. However, FOREX.com’s spread-only pricing model can be more straightforward for some traders.
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
| Criteria | BlackBull Markets | FOREX.com |
|---|---|---|
| Standard Account Spreads | 1.2 pips | 1.2 pips |
| RAW Account Spreads | From 0.1 pips | N/A |
| Commission Rates | Yes (on RAW ECN account) | No |
| Deposit & Withdrawal Fees | No | No |
| Other Fees | No inactivity fees, swap fees may apply | No inactivity fees, swap fees may apply |
BlackBull Markets is regulated by the New Zealand Financial Markets Authority (FMA) and the Seychelles Financial Services Authority (FSA). FOREX.com, on the other hand, boasts multiple regulations from prestigious bodies including the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the Investment Industry Regulatory Organization of Canada (IIROC or CIRO).
Verdict: In terms of trust and regulation, FOREX.com takes the lead with its multiple top-tier licenses, offering traders a higher level of protection and security.
FOREX.com ReviewVisit FOREX.com
| Broker | Regulators |
|---|---|
| BlackBull Markets | FMA, FSA-S |
| FOREX.com | FCA, MAS, JFSA, CIMA, NFA/CFTC, CIRO |
Both brokers offer a range of trading platforms to suit different trading styles and experience levels.
BlackBull Markets offers both MetaTrader 4 and MetaTrader 5, the world’s most popular forex trading platforms known for their advanced charting features and algorithmic trading capabilities. FOREX.com also provides MetaTrader 4, but does not support MetaTrader 5.
While BlackBull Markets does not offer these platforms, FOREX.com provides its proprietary Advanced Trading Platform with professional-grade charting, integrated trading strategies, and premium news and analysis.
| Criteria | BlackBull Markets | FOREX.com |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | No | No |
| TradingView | No | No |
| Other Platforms | BlackBull Social BlackBull Shares BlakcBull Trade |
No |
| VPS Services | Yes | Yes |
Neither BlackBull Markets nor FOREX.com currently supports social or copy trading.
Both brokers offer VPS services for uninterrupted algorithmic trading. They also provide various trading tools such as economic calendars, market news updates, and educational resources.
Verdict: Both brokers offer robust trading platforms, but FOREX.com has a slight edge with its proprietary Advanced Trading Platform and the absence of MetaTrader 5 in its offering.
FOREX.com ReviewVisit FOREX.com
| Broker | Limit Order Speed | Market Order Speed |
|---|---|---|
| BlackBull Markets | 139 ms | 219 ms |
| FOREX.com | N/A | N/A |
Execution speed is crucial in forex trading as it can significantly impact the entry and exit points of your trades. Both BlackBull Markets and FOREX.com offer high-speed trade execution, thanks to their robust trading infrastructures and use of advanced technology.
Verdict: It’s a tie in this category as both brokers strive to provide fast and reliable trade execution.
| Criteria | Limit Order | Market Order |
|---|---|---|
| BlackBull Markets | 1 ms | 2 ms |
| FOREX.com | N/A | N/A |
BlackBull Markets offers three account types: Standard, Prime, and Institutional. These accounts cater to different types of traders, from beginners to experienced professionals. FOREX.com, on the other hand, provides a Standard account and a Commission account, with the latter offering lower spreads for a commission per trade.
Verdict: BlackBull Markets offers more account types catering to a wider range of traders, from novices to professionals.
Black Markets ReviewVisit Black Markets
| Broker | Account Types |
|---|---|
| BlackBull Markets | Standard, Prime, Institutional |
| FOREX.com | Standard, Commission |
Both brokers offer customer support via live chat, email, and phone. However, FOREX.com provides 24/7 customer service, while BlackBull Markets’ support is available 24/5.
Verdict: FOREX.com offers superior customer service with its 24/7 availability.
| Broker | Customer Support |
|---|---|
| BlackBull Markets | 24/5 |
| FOREX.com | 24/7 |
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
BlackBull Markets requires a minimum deposit of $200, while FOREX.com has a lower threshold of $50, making it more accessible for beginners or those with a smaller trading budget.
Both brokers offer a variety of payment methods, including credit/debit cards, bank transfers, and popular e-wallets.
Verdict: FOREX.com is more accessible for beginners due to its lower minimum deposit requirement.
FOREX.com ReviewVisit FOREX.com
| Criteria | BlackBull Markets | FOREX.com |
|---|---|---|
| Minimum Deposit | $200 | $50 |
| Payment Methods | Credit/Debit Cards, Bank Transfer, E-Wallets | Credit/Debit Cards, Bank Transfer, E-Wallets |
| Forex CFD | 72 | 91 |
| Shares CFD | 26000+ | 220 |
| Cryptos CFD | 9 | 8 |
| Commodities CFD | 9 Metals 5 Energies 8 Softs |
2 Metals (6 Gold crosses (2 Silver crosses) 2 Energies 2 Softs |
| Indices CFD | 10 | 17 |
| Bonds/Treasuries CFD | No | No |
| Spread Betting (UK only) | No | No |
| Other Products | No | No |
| Shares (underlying) | Yes | No |
Best For Beginner Traders: FOREX.com, with its lower minimum deposit, user-friendly platform, and 24/7 customer support, is a solid choice for beginner traders.
FOREX.com ReviewVisit FOREX.com
*Your capital is at risk ‘71% of retail CFD accounts lose money’
Best For Experienced Traders: BlackBull Markets, with its ECN execution, competitive spreads, and variety of account types, is a solid choice for experienced traders seeking advanced trading conditions.
| Criteria | BlackBull Markets | FOREX.com |
|---|---|---|
| Minimum Deposit | $200 | $50 |
| Maximum Leverage | 1:500 | 1:200 |
| Trading Platforms | MT4, MT5 | MT4, Advanced Trading Platform |
| Commission | Yes (on RAW ECN account) | No |
| Regulation | FMA, FSA-S | FCA, MAS, JFSA, CIMA, NFA/CFTC, CIRO |
| Customer Support | 24/5 | 24/7 |
FOREX.com is best for beginners due to its lower minimum deposit, user-friendly platform, and 24/7 customer support.
BlackBull Markets offers better trading conditions for experienced traders with its ECN execution and competitive spreads.
Standard account spreads (no commission) published on each broker's website (updated monthly) plus our proprietary tests by Ross Collins.
https://www.compareforexbrokers.com/our-methodology/forex-fees/standard-spreads/
Raw account spreads (no commission) published on each broker's website (updated monthly) plus our proprietary tests by Ross Collins.
https://www.compareforexbrokers.com/our-methodology/forex-fees/tightest-spreads/
Published commission rates taken from each broker's website (updated monthly) for each base currency rate.
https://www.compareforexbrokers.com/our-methodology/forex-fees/commissions/
