Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
When comparing online brokers FXCM and BlackBull Markets, several factors can help traders make informed decisions. Established in 1999, FXCM is a publicly traded company, while BlackBull Markets, founded in 2014, remains privately held. Neither of the companies operates as a bank. A key consideration in their comparison is their regulatory standing: FXCM holds 4 Tier-1 licenses and 2 Tier-2 licenses, reflecting a strong presence in highly trusted and trusted regulatory environments. In contrast, BlackBull Markets has 1 Tier-1 license and no Tier-2 licenses.
The ForexBrokers.com Trust Score provides a clear picture of each broker's reliability, with FXCM scoring an impressive 95 out of 99, placing it in the highly trusted category. On the other hand, BlackBull Markets has a Trust Score of 78, indicating an average risk broker. These trust scores, alongside their regulatory licenses and company specifics, offer potential clients important insights into each broker's security and accountability levels.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1999 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing FXCM and BlackBull Markets in terms of commissions and fees, FXCM provides various pricing models that come with different spreads depending on the account type and region. For standard accounts, the spreads are slightly above the industry average, with EUR/USD spreads reaching an average of 0.78 for its EU, U.K., and Australia offerings, and 1.38 for its St. Vincent and the Grenadines entity. Commission-based accounts offer tighter spreads averaging 0.28 pips, although the effective spread becomes approximately 0.74 pips once commissions are included. FXCM also features an Active Trader Rebate Program with tiered discounts for high-volume traders, which can provide some trading cost relief. FXCM holds a 4-star rating and ranks #24 out of 62 brokers for commissions and fees.
BlackBull Markets offers three distinct account types influencing trading costs, with its Prime account being the standout option. Here, average EUR/USD spreads are 0.16 pips, resulting in an all-in cost of 0.76 pips after factoring in a per-side commission of 0.3 pips. This account requires a $2,000 minimum deposit. For traders seeking a commission-free option, the Standard account provides this but with higher spreads. Alternatively, the ECN Institutional account caters to active traders with $20,000 minimum deposits and offers competitive commissioning at $2 per side. Across these options, BlackBull Markets achieves a 4.5-star rating and ranks #18 out of 62 brokers for commissions and fees.
Both FXCM and BlackBull Markets provide competitive offerings tailored to different trader needs, particularly regarding spreads and associated costs. While FXCM emphasizes tiered discounts for high-volume traders, BlackBull Markets offers a clear differentiation in account types, meaning traders can choose according to their volume and deposit capacity. These factors combined with their respective ratings show BlackBull Markets as having a slight edge over FXCM in commissions and fees.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average Spread EUR/USD - Standard | 0.78 | 0.71 |
| All-in Cost EUR/USD - Active | 0.78 | 0.71 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FXCM and BlackBull Markets for their range of investments, notable differences arise. Both brokers provide the ability to trade forex as CFDs or spot contracts. FXCM offers 440 tradeable symbols, including 43 forex pairs, while BlackBull Markets significantly expands the selection with 26,000 symbols and 72 forex pairs. However, a notable distinction is BlackBull Markets' offering of exchange-traded securities on both U.S. and international exchanges, allowing clients to purchase real stocks like Apple and Vodafone, whereas FXCM does not provide this option.
For cryptocurrency, both FXCM and BlackBull Markets allow trading in derivatives but not in actual cryptocurrencies. Both brokers support copy trading, catering to investors interested in following others' strategies. Reflecting on their investment reach, FXCM receives 3.5 stars and ranks #47 out of 62 brokers, while BlackBull Markets excels with a 5-star rating and ranks #6. This comparison highlights BlackBull Markets as a more versatile choice for those seeking a broader range of investments.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 26000 |
| Forex Pairs (Total) | 43 | 72 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
FXCM and BlackBull Markets both offer simulated trading through free virtual demo accounts, making them accessible for beginners looking to practice trading risk-free. FXCM stands out with its proprietary trading platform, whereas BlackBull Markets does not have an in-house developed platform. Both brokers provide comprehensive Windows-based desktop and web-based trading platforms, catering to traders who prefer flexible trading environments. When it comes to copy trading, both platforms support this feature, with compatibility for popular options like ZuluTrade. However, FXCM does not offer MetaTrader 5, while BlackBull Markets includes this alongside MetaTrader 4.
Both FXCM and BlackBull Markets allow trading directly from stock charts, enhancing the user experience for traders who rely on technical analysis. FXCM offers 10 drawing tools for charting, while BlackBull Markets significantly surpasses this with 60 tools, providing a more extensive range of options for detailed analysis. For watch lists, FXCM provides 13 columns, compared to BlackBull’s 6, giving users more fields to customize their watch list views. FXCM receives commendations for its trading platforms and tools, securing a 5-star rating and ranking 6th out of 62 brokers by ForexBrokers.com. BlackBull Markets, while respectable with a 4-star rating and 29th rank, trails slightly in this comparison. Overall, FXCM’s offerings in trading platforms and tools appear more comprehensive and highly rated, which could appeal to a broader range of traders.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 115 | 109 |
| Charting - Drawing Tools (Total) | 10 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FXCM and BlackBull Markets, both platforms offer similar features, giving users the ability to trade conveniently on iPhone and Android devices. They both include useful functionalities like stock and forex price alerts and allow for watchlist symbol syncing, ensuring your watchlists are consistently updated across devices. Furthermore, both apps allow traders to draw trendlines and view multiple time frames on their charts, while automatically saving drawings for added convenience. Creating watchlists with real-time quotes is also a feature shared by FXCM and BlackBull Markets, making it easy for traders to track their favorite stocks or forex pairs on the go.
However, when it comes to charting capabilities, FXCM stands out by offering 59 technical studies compared to BlackBull Markets' 30. This could be a deciding factor for traders who rely heavily on technical analysis. Users have rated FXCM's mobile app at 4.5 stars, slightly higher than BlackBull Markets' 4 stars, reflecting a generally favorable user experience. This is also reflected in ForexBrokers.com rankings, with FXCM positioned at #16 out of 62 brokers, while BlackBull Markets comes in at #31. These evaluations might help potential users decide which platform aligns better with their trading needs and preferences.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FXCM and BlackBull Markets both provide daily market commentary, ensuring traders have access to expert insights regularly. However, FXCM stands out by offering forex news from top-tier sources like Bloomberg and Reuters, while BlackBull Markets does not provide this feature. In terms of technical analysis tools, FXCM utilizes Trading Central’s technical analytics, whereas BlackBull Markets benefits from Autochartist's tools. Both brokers offer sentiment-based trading tools that provide a ratio of long and short positions across various instruments, enhancing traders' strategy development.
FXCM takes the lead with market research offerings from TipRanks, which BlackBull Markets lacks. Neither broker provides research tools from Acuity Trading, such as Signal Centre. Each offers an economic calendar to keep traders informed about global news events. With these offerings, FXCM scores 4.5 stars for research and ranks 11th out of 62 brokers, compared to BlackBull Markets’ 4-star rating and 18th place ranking. This suggests that, overall, FXCM may provide a richer research experience for traders looking for comprehensive market insights.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing FXCM and BlackBull Markets, both online brokers provide valuable educational resources for forex and CFDs trading, catering well to beginners. They each offer a wealth of over 10 educational materials like articles, videos, and archived webinars, aimed at helping new traders develop a strong understanding of the market. Not only do they hold regular monthly webinars, but they also provide comprehensive archives to access past sessions, ensuring continuous learning opportunities. Whether you're just starting or looking to deepen your knowledge, both brokers support your journey with at least 10 beginner-friendly videos tailored to novices in trading.
In addition to beginner resources, both FXCM and BlackBull Markets also cater to advanced traders by offering a series of instructional videos targeting more experienced users. Both platforms are equipped with investor dictionaries containing definitions for over 50 investing terms, providing clarity on complex concepts. Users rate FXCM slightly higher for education, at 4.5 stars compared to BlackBull Markets' 4 stars. Moreover, according to ForexBrokers.com, FXCM holds a higher ranking, being placed 14th out of 62 brokers, while BlackBull Markets occupies the 29th spot in the Education category. This suggests that while both brokers offer quality learning tools, FXCM is marginally favored among users for educational offerings.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FXCM is better than BlackBull Markets. FXCM finished with an overall rank of #15, while BlackBull Markets finished with an overall rank of #24.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 78 |
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Both FXCM and BlackBull Markets do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
FXCM stands out for offering a wide range of deposit and withdrawal options including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas BlackBull Markets provides similar flexibility but lacks ACH, SEPA, and PayPal support, offering Skrill, Visa, Mastercard, and bank wires instead.
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 | FXCM | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
| Winner | check_circle | ||
| Review | FXCM Review | BlackBull Markets Review |
| Broker Screenshots | FXCM | BlackBull Markets | |
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| Regulation | FXCM | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 95 | 78 | |
| Year Founded | 1999 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FXCM | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 26000 | |
| Forex Pairs (Total) | 43 | 72 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | FXCM | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | BlackBull Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | FXCM | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 6 | |
| Charting - Indicators / Studies (Total) | 115 | 109 | |
| Charting - Drawing Tools (Total) | 10 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | BlackBull Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | BlackBull Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FXCM Review | BlackBull Markets Review |
| Overall | FXCM | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
| Winner | check_circle | ||
| Review | FXCM Review | BlackBull Markets Review |
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