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 |
FXCM and BlackBull Markets both offer competitive trading options, but their commissions and fees vary significantly. FXCM is rated 4 stars out of 5 for its commissions and fees, placing it #24 out of 62 brokers according to ForexBrokers.com. FXCM offers different account types and pricing models, with standard account spreads fairly higher at times. For its EU, U.K., and Australia clients, the average EUR/USD spread is 0.78 pips, while it rises to 1.38 pips for clients under its St. Vincent and the Grenadines entity. Commission-based accounts offer a more attractive average spread of 0.28 pips, but this rises to an effective spread of 0.74 pips after factoring in commission costs. Their Active Trader Rebate Program can offer some discounts, though these are not as competitive as those at other brokers like Tickmill and FP Markets.
On the other hand, BlackBull Markets earns a higher rating of 4.5 stars out of 5, ranking #19 among brokers analyzed by ForexBrokers.com for commissions and fees. The firm provides a clearer costing structure across its three account types. Its Prime account, which particularly stands out, has an average spread of 0.16 on the EUR/USD, resulting in a total cost of 0.76 pips after including the $6 per 10,000 traded commission. While the Standard account offers commission-free trading, it comes with wider spreads. The ECN Institutional account is tailored for high-volume traders, requiring a minimum deposit of $20,000 and offering even more competitive commission rates.
When comparing the two, BlackBull Markets emerges as the clearer choice for traders focused on tighter spreads and competitive all-in costs, particularly in its Prime and ECN Institutional accounts. While FXCM does offer opportunities for spread reductions through its Active Trader Rebate Program, BlackBull Markets' more transparent fee structure and higher industry ranking brighten its appeal, especially for serious traders eyeing cost efficiency.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average Spread EUR/USD - Standard | 0.78 | 0.76 |
| All-in Cost EUR/USD - Active | 0.78 | 0.76 |
| 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 cater to users seeking comprehensive trading platforms, but they offer different advantages. FXCM stands out with its proprietary trading platform and offers MetaTrader 4 (MT4), though it lacks MetaTrader 5 (MT5). BlackBull Markets provides both MT4 and MT5, although it does not have an in-house platform. Both brokers offer online simulated trading through free virtual demo accounts and support popular copy trading services like ZuluTrade. They equip traders with Windows-based desktop platforms as well as web-based options that are accessible via a browser.
In terms of charting tools, BlackBull Markets offers significantly more drawing tools, providing 60 compared to FXCM's 10. However, FXCM compensates with a superior number of columns for watch lists, offering 13 fields versus BlackBull’s 6. Both brokers allow trading directly from stock charts, adding to the ease of trading. Ratings from ForexBrokers.com give FXCM a 5-star ranking for its trading platforms and tools, ranking it 6th out of 62 brokers, while BlackBull Markets, with a 4-star rating, comes in at 28th. Thus, your choice may depend on whether you value proprietary platforms and a higher star rating or prefer more options in drawing tools and the inclusion of MT5.
| 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 it comes to mobile trading apps, both FXCM and BlackBull Markets offer a comprehensive suite that caters to iPhone and Android users. Traders can rest assured knowing that both platforms provide essential features such as price alerts and the ability to sync watchlists between mobile apps and online accounts. While FXCM stands out with its extensive options for technical studies, providing 59 in total, BlackBull Markets offers 30. This could be a critical factor for those who rely heavily on technical analysis. Both platforms allow users to draw trendlines, switch between different time frames, and automatically save chart drawings. Creating watchlists with real-time quotes is a breeze on both apps, ensuring traders have quick access to the markets.
In terms of user feedback, FXCM’s mobile app scores higher, receiving a rating of 4.5 stars compared to BlackBull Markets' 4 stars. This higher rating is further reflected in FXCM's rank by ForexBrokers.com, where it holds the 16th position out of 62 brokers, while BlackBull Markets is positioned at 30th. For traders who prioritize mobile trading platform performance and features, these rankings and ratings offer a helpful glimpse into user satisfaction and expert evaluations. Overall, while both apps offer solid functionality, FXCM appears to have a slight edge in features and user approval.
| 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
|
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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 | 0.76 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.76 | |
| 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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