Eightcap vs Blackbull Markets

This Eightcap and Blackbull Markets forex broker comparison found both MetaTrader 4 and 5 brokers have over 60 currency pairs but Eightcap has 250 Cryptos and Blackbull has 23,000 equity stocks. Find out how each broker compares

Written by Justin Grossbard

With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 2014. He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.

Updated: 10/11/2022

What Changed?

Each month we update average spreads data published by the brokers the retail brokers lose %

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Our Rating

9.00

8.50

Eightcap review

BlackBull Markets

Regulations and Licenses

ASIC (Australia)

FMA (New Zealand)

FSA (Seychelles)

SCB (Bahamas)

Brokerage

EUR/USD Avg. Raw Spread

0.06

0.23

GBP/USD Avg. Raw Spread

0.73

0.72

AUD/USD Avg. Raw Spread

0.27

0.65

EUR/USD Standard Spread

1.06

1.20

EUR/USD Fixed Spreads

Commissions (USD Base)

$3.50

$3.00

Minimum Deposit

$250 (Raw)
$500 (Standard)

$50

Swap Free Account

No Inactivity Fees

Funding Methods

No Funding Fees

Markets and Instruments

Currency Pairs

40+

64+

Cryptocurrency CFDs*

250+

11+

Index CFDs

10+

15+

Share CFDs

400+

350+

Commodities CFD

21+

Stockbroking

23,000+

Retail Max Leverage (Australia)

Major Pairs 30:1
Minor Pairs 20:1

Pro. Max Leverage (Australia)

500:1

Retail Max. Leverage (New Zealand)

Major Pairs: 500:1

Retail Max. Leverage (With offshore regulators)

500:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.

Trading Platforms + Tools

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

cTrader

TradingView

Proprietary Platform

Automated Trading

Social + Copy Trading

Standard Stop Loss

Guaranteed Stop Loss

Demo Account

Overall

Our Rating

9.00

8.50

Eightcap review

BlackBull Markets

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Eightcap vs Blackbull Markets Table of Contents

Introduction
Trading Accounts (Standard, Commission)
Funding Methods
Regulations
Trading Platforms
Trading Products
Broker Popularity

EightCap and BlackBull Markets are two great CFD brokers, Eightcap has a strong presence in Australia, while BlackBull Markets are regulated in New Zealand. That said, both brokers are available for clients in most countries. To help you decide between them, we pit Eightcap vs BlackBull Markets.

What account types are cheapest to trade with?

Depending on the type of account you choose, your trading fees will either be incorporated into the bid-ask spread which is the difference between the buy price and sell price or as a commission fee for each lot you trade.

How The Standard Accounts Compare

On a standard account, you will only face a spread cost.


1.20	1.70	1.50	1.40	1.30
0.77	0.84	1.40	1.19	0.86
1.13	1.01	1.71	1.66	1.12
1.20	1.20	1.50	2.20	1.70
1.30	1.50	1.80	1.70	1.40
1.10	1.20	1.40	1.50	1.20
1.30	1.50	1.90	1.80	1.90
1.30	1.80	1.90	1.90	2.00
1.24	1.77	1.65	1.81	1.33
1.70	1.80	2.00	2.20	1.60

Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/11/2022

Eightcap Review >>Visit Eightcap >>

On average, spreads are favourable for Eightcap but it may be better to consider other brokers for this type of trading account.

Your minimum spread on an Eightcap standard account is 1 pip, applicable for all of their major forex pairs. BlackBull Markets has a minimum spread 0.8 pips wide for their standard account type, available on the EUR/USD.

How The Commission-Based Accounts Compare

An STP or ECN-style trading account will cost commission on trades, however, you get ‘raw’ market priced spreads, unlike in the standard account, where spreads are artificially increased by brokers- which you will observe comparing the module below to the one above.


0.23	0.20	0.06	0.42	0.27
0.60	0.66	0.23	0.90	0.65
0.80	0.80	0.20	0.80	0.40
0.26	0.47	0.17	0.40	0.24
0.20	0.30	0.20	0.40	0.20
0.30	N/A	0.30	0.50	0.40
0.24	N/A	0.17	0.54	0.30
0.30	0.70	0.20	0.50	0.40
0.30	1.10	0.10	0.60	0.50
0.79	1.60	0.46	1.26	1.28

Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/11/2022

View BlackBull Markets Review >>Visit BlackBull Markets >>

Both brokers have spreads from 0.0 pips however a significantly larger minimum deposit is required for 0.0 pip spreads with Blackbull Markets.

Eightcap’s ‘Raw Account’ has commission fees of $7 AUD or USD round-turn for a standard lot of 100k. If your chosen base currency is not AUD or USD, you will pay the equivalent of $7 USD.

The “ECN Prime” account offered by BlackBull has a minimum spread of 0.1 pips- higher than Eightcap’s Raw Account. Commission fees are at USD $6 round-turn per standard lot. Also note that BlackBull’s ECN Prime account has a high barrier to entry, as your first deposit needs to be at least $2,000.

Our verdict

Both standard accounts are similar when it comes to minimum pricing, however, Eightcap has a cheaper STP-style account. Their lower spreads plus the fact that you don’t need a $2,000 minimum deposit, help push this category to Eightcap.

Eightcap Review >>Visit Eightcap >>

How do you fund an Eightcap or BlackBull account?

BlackBull Markets provides a limited range of methods for you to deposit funds with. You can Bank Transfer funds, use a Visa/Mastercard credit card, or an eWallet like UnionPay, Neteller, and Skrill.

Eightcap offers all the methods BlackBull Markets allows, but also has more. In Australia, you can deposit with POLi or BPay, and PayPal is available globally. If you are outside Australia, you can even deposit with Bitcoin, Tether and Ethereum cryptocurrencies.

Eightcap Review >>Visit Eightcap >>

Which broker will you be safer trading with?

To decide whether Eightcap or BlackBull is a safer forex broker, we compare the regulatory licences held by the two brokers.

We find that Eightcap has one top-tier licence and one second-tier regulatory licence.

Their top-tier licence is for Australia, with the Australian Securities and Investments Commission (ASIC). Their second-tier licence gives them global regulatory coverage, courtesy of the Securities Commission of the Bahamas (SCB).

BlackBull Markets also holds a top-tier and a second-tier licence. The top-tier licence of BlackBull is in New Zealand, with the Financial Markets Authority (FMA). Their second-tier licence is also global, under the regulation of the Financial Services Authority (FSA) of Seychelles.

Our verdict

We believe that for you to stay safe when trading, you should use a broker regulated in the country you are trading from.

Australian traders should prefer Eightcap, while New Zealand traders will be safer with BlackBull Markets. Internationally, you should be safe with both brokers.

View BlackBull Markets Review >>Visit BlackBull Markets >>

Do Eightcap or BlackBull have better platforms and tools?

For this category, we take a look at the platforms you can access on Eightcap and BlackBull plus the tools they provide.

When you think of forex platforms, the two names that likely pop into your head are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They are the most popular forex trading platforms available, and you will be able to access both with Eightcap or BlackBull.

Alongside both MetaTrader options, Eightcap provides you with even more choices of CFD platforms. TradingView is a platform specifically designed for chart traders to have a better trading experience, while Capitalise.ai allows you to build trading bots without having to write any code- great for beginners as an introduction to algorithmic trading.

Eightcap also provides you with tools like AmazingTrader and Cryptocrusher. Both MetaTrader add-on, these tools can help you risk-manage trades, and offer crypto trading strategies for you respectively. Cryptocrusher in particular is extremely helpful to allow you to fully utilise the wide range of crypto options and cheap trading fees that Eightcap has.

Meanwhile, BlackBull Markets does not have any other platforms for you to use. The only trading tool they provide is AutoChartist, which can help you chart-trade better on MetaTrader.

Our verdict

Eightcap firmly wins this category, with more trading platforms and a better set of trading tools that will make more of an impact.

Eightcap Review >>Visit Eightcap >>

How many instruments can you trade on Eightcap or BlackBull?

Eightcap and BlackBull Markets provide you with a wide variety of CFD trading instruments, including foreign exchange (forex), indices, stocks and ETFs, and cryptocurrencies.

Eightcap has 46 currency pairs available for you, with popular pairs like the EUR/USD, as well as minor pairs like the GBP/NZD.

However, what makes Eightcap stand out as a top broker is its extraordinarily strong crypto offerings. There are over 250 different crypto offerings, with popular cryptos like Bitcoin, Ethereum and Dogecoin paired against fiat currencies and even other cryptos. If you wanted to, you could even purchase a crypto index for exposure to all the major coins.

In comparison, BlackBull Markets has 64 minor pairs, a total of 27 currency pairs for you to trade.

Where BlackBull really shines is that they offer 24,000 equities in addition to 750 CFD stocks for trading. Just note that equities are not available to traders in Australia, US, Canada and Singapore but they are working to fix that.

Our verdict

Our clear winner is Eightcap, as they provide an all-round wider range of products for you to trade. This ranges from more forex pairs to an extremely comprehensive crypto product availability.

Eightcap Review >>Visit Eightcap >>

Is Eightcap or BlackBull more popular with traders?

To test broker popularity, we look at website visit activity.

In May 2022, we found that Eightcap received 832 thousand visits to their website.

Meanwhile, BlackBull Markets had far fewer visits in the same period, recording 191 thousand visits.

Overall winner

Our final winner is Eightcap. With a resoundingly better all-round offering than BlackBull Markets, through cheaper trading, more products, and a better trading experience, Eightcap is our preferred broker.

Eightcap Review >>Visit Eightcap >>

About the author: Justin Grossbard

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