Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs BlackBull Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CMC Markets, founded in 1989, is publicly traded, while BlackBull Markets, founded in 2014, is not listed; neither is a bank. According to ForexBrokers.com’s Trust Score out of 99, CMC Markets scores 99 (highly trusted: 90–99), whereas BlackBull Markets scores 77 (average risk: 70–79).
On regulation, CMC Markets holds 6 Tier-1 licenses (considered highly trusted by ForexBrokers.com) and 1 Tier-2 license (trusted). BlackBull Markets holds 1 Tier-1 license and no Tier-2 licenses. In plain terms, CMC Markets is supervised by more top-tier regulators than BlackBull Markets, which may appeal to traders who prioritize extensive regulatory coverage.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1989 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
CMC Markets is the stronger choice for commissions and fees, earning 5 stars and ranking #4 out of 36 brokers for this category. It stands out for its consistently low spreads across account types, with typical EUR/USD spreads around 0.61 pips based on August 2023 data. For traders who want even lower costs, CMC’s FX Active pricing can bring the EUR/USD all-in cost down to about 0.5 pips, with commissions of $2.50 per side and minimum spreads starting at zero. Its Price Plus Scheme also gives active traders discounts based on trading volume.
BlackBull Markets is still a solid low-cost option, but it is not as cheap overall as CMC Markets. It earns 4.5 stars and ranks #9 out of 36 brokers for commissions and fees. BlackBull’s pricing depends on the account you choose: the Standard account has no commission and no minimum deposit, but wider spreads; the Prime account offers better pricing, with a EUR/USD average spread of 0.16 and an all-in cost of about 0.76 after commission, but requires a $2,000 minimum deposit; and the ECN Institutional account is aimed at higher-volume traders with a $20,000 minimum deposit and lower commissions.
In simple terms, CMC Markets is the better pick if your main goal is keeping trading costs low, especially for forex. BlackBull Markets can also be competitive, particularly on its Prime account, but CMC Markets offers more consistently low pricing across its range of products and account types.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 1.16 |
| All-in Cost EUR/USD - Active | 0.65 | 0.76 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets and BlackBull Markets both give traders a wide choice of ways to invest, including forex trading as CFDs or spot contracts, U.S. and international exchange-traded shares, copy trading, and cryptocurrency CFDs. Neither broker lets clients buy delivered cryptocurrency, so both are geared more toward trading crypto price moves than owning coins outright. For this category, both brokers earn a 5-star rating for range of investments.
BlackBull Markets offers a larger overall product list, with about 26,000 tradeable symbols compared with CMC Markets’ 12,029. CMC Markets, however, has the edge in forex pairs, offering 141 compared with BlackBull Markets’ 72. In ForexBrokers.com’s ranking of 36 brokers, BlackBull Markets places slightly higher at #7 for range of investments, while CMC Markets sits at #9, making both strong choices depending on whether you want more total markets or more forex pairs.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 26000 |
| Forex Pairs (Total) | 141 | 72 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
CMC Markets and BlackBull Markets both give traders a wide range of platform choices, including free demo accounts, web-based trading, desktop downloads for Windows, copy trading, MetaTrader 4, and MetaTrader 5. Each also lets users trade directly from charts, which can make order entry faster and easier for active traders. That said, CMC Markets stands out with its own in-house trading platform, while BlackBull Markets does not offer a proprietary platform.
When it comes to trading tools, CMC Markets has the edge overall. It is rated 5 out of 5 stars for Trading Platforms and Tools and ranks #6 out of 36 brokers at ForexBrokers.com, compared with BlackBull Markets at 4 out of 5 stars and #25 out of 36. For traders who want more platform depth and a stronger tools offering, CMC Markets is the stronger pick, while BlackBull Markets still covers the main platform needs well.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 73 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and BlackBull Markets both offer mobile trading apps for iPhone and Android, along with price alerts, watchlist syncing, trendline drawing, and auto-saving chart drawings. In other words, each broker gives traders the key mobile features needed to track markets and manage watchlists from a phone or tablet. If you want a simple app experience with the same tools across devices, both brokers cover the basics well.
The main differences show up in charting depth and user ratings. BlackBull Markets offers 30 technical studies in its mobile app, slightly more than CMC Markets’ 29, but CMC Markets earns the stronger overall result with a 5-star Mobile Trading Apps rating and a #5 ranking out of 36 brokers from ForexBrokers.com. BlackBull Markets is rated 4 stars and ranks #27 out of 36, so while both apps are useful, CMC Markets stands out as the better pick for mobile trading overall.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
CMC Markets and BlackBull Markets both give traders useful market research tools, including daily market commentary, an economic calendar, Autochartist, and a sentiment tool that shows whether traders are mostly long or short on different markets. Each broker also covers the basics well for keeping up with price moves and scheduled news. Neither one offers Trading Central, TipRanks, or Acuity Trading tools.
Where CMC Markets stands out is in the depth of its news coverage and overall research quality. It offers forex news from top sources such as Bloomberg, Reuters, and Dow Jones, while BlackBull Markets does not. CMC Markets is rated 5 stars for Research and ranks #6 out of 36 brokers on ForexBrokers.com, compared with BlackBull Markets at 4.5 stars and #17, making CMC Markets the stronger choice for traders who want more market insight.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner-friendly trading education, both CMC Markets and BlackBull Markets give new traders plenty to work with. Each broker offers at least 10 beginner videos and at least 10 advanced videos, so both platforms cover the basics as well as more detailed trading topics. CMC Markets stands out for its higher Education rating of 5 stars and a stronger ForexBrokers.com ranking at #10 out of 36 brokers, compared with BlackBull Markets at 4.5 stars and #24.
For forex and CFD learning content, both brokers meet the mark by offering at least 10 educational pieces focused on forex or CFDs. The biggest difference is live learning support: BlackBull Markets offers online educational webinars at least once a month, while CMC Markets does not. This makes BlackBull Markets a better fit for traders who want regular live sessions, while CMC Markets looks stronger overall for education quality and beginner learning resources.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Webinars | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that CMC Markets is better than BlackBull Markets. CMC Markets finished with an overall rank of #5, while BlackBull Markets finished with an overall rank of #22.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 77 |
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In the CMC Markets vs BlackBull Markets comparison, neither broker offers the ability to buy actual (delivered) cryptocurrency, but both provide access to trading cryptocurrency CFDs.
Comparing online brokers CMC Markets and BlackBull Markets for deposits and withdrawals: both support ACH/SEPA transfers and bank wires, CMC Markets also supports PayPal while BlackBull Markets supports Skrill, and Visa/Mastercard availability is not specified for either broker.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | CMC Markets | BlackBull Markets | |
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| Trust Score | 99 | 77 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | BlackBull Markets Review |
| Broker Screenshots | CMC Markets | BlackBull Markets | |
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| Regulation | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 99 | 77 | |
| Year Founded | 1989 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 26000 | |
| Forex Pairs (Total) | 141 | 72 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 1.16 | |
| All-in Cost EUR/USD - Active | 0.65 | 0.76 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 73 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | CMC Markets Review | BlackBull Markets Review |
| Overall | CMC Markets | BlackBull Markets | |
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| Trust Score | 99 | 77 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | BlackBull Markets Review |
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