Written by ForexBrokers.com
In this head to head comparison of IC 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.
Founded in 2007, IC Markets offers a solid choice for those looking for regulated online trading platforms. With a Trust Score of 84 from ForexBrokers.com, it is considered trustworthy. IC Markets holds two Tier-1 licenses, indicating a good level of regulatory oversight. However, like its competitor BlackBull Markets, it is not publicly traded and does not hold any Tier-2 licenses. Overall, IC Markets presents as a reliable option in the trading landscape.
BlackBull Markets, established in 2014, is another contender in this space, boasting a ForexBrokers.com Trust Score of 78, which falls into the average risk category. It holds one Tier-1 license, which points to a satisfactory degree of credibility. Similar to IC Markets, BlackBull is not listed on any stock exchange and is not a banking entity. Each of these brokers offers a distinct level of trust and regulation to meet the diverse needs of traders.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 2007 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing IC Markets and BlackBull Markets for their commissions and fees, IC Markets stands out with its competitive trading costs, earning a perfect 5-star rating and a #5 ranking in the Commissions & Fees category by ForexBrokers.com. With small effective spreads and low deposit requirements on commission-based accounts, IC Markets offers three choices: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. Notably, the cTrader account provides slightly lower commissions than the Raw Spread account using MetaTrader platforms.
IC Markets' average spread on the popular EUR/USD pair is 0.02 pips, and after including the commission, the all-in cost is highly competitive at 0.62 pips for the cTrader account (or 0.72 pips for the MetaTrader Raw Spread account). The Standard account, with an average spread of 0.62 pips, requires no commissions, appealing to cost-conscious traders. For those trading over 100 standard lots monthly, IC Markets provides discount incentives, further enhancing its appeal for active traders.
In contrast, BlackBull Markets, with a 4.5-star rating and ranked #18 by ForexBrokers.com, offers trading costs that are about average for the industry. The Prime account, considered the most appealing, offers average EUR/USD spreads of 0.16 pips with an all-in cost of 0.76 pips, though it requires a $2,000 minimum deposit and includes a commission of $6 per round turn per lot. The commission-free Standard account has higher spreads with no minimum deposit, while the ECN Institutional account is tailored for active traders with a minimum deposit of $20,000, offering the lowest commission rate at $4 per round turn.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | 0.71 |
| All-in Cost EUR/USD - Active | 0.62 | 0.71 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | 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.
IC Markets and BlackBull Markets are both well-known online brokers offering forex trading, with clients having the flexibility to trade forex as either CFDs or spot contracts. However, when you dive into the specifics of their investment range, BlackBull Markets comes out ahead by providing access to a staggering 26,000 tradeable symbols compared to IC Markets' offering of 3,583. Additionally, forex enthusiasts will find a slight edge at BlackBull Markets, which presents 72 tradeable forex pairs, surpassing the 61 pairs available through IC Markets.
A significant distinction between the two brokers is their approach to exchange-traded securities. BlackBull Markets gives its users the opportunity to invest directly in U.S. exchange-traded securities like Apple shares, an option that IC Markets doesn't provide. Both brokers, however, cater to global investors by offering access to international exchange-traded securities. Furthermore, while neither broker supports purchasing actual cryptocurrencies, both facilitate trading in cryptocurrency derivatives. Both brokers also provide copy trading services, which can be appealing to traders looking to follow in the footsteps of experienced investors. In terms of ratings for their range of investments, BlackBull Markets holds a perfect score of 5 stars and ranks #6 out of 62 brokers, whereas IC Markets has earned 4.5 stars with a rank of #25.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 26000 |
| Forex Pairs (Total) | 61 | 72 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | 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.
Both IC Markets and BlackBull Markets provide traders with comprehensive platforms that support demo accounts for simulated trading, allowing users to practice without financial risk. Neither broker offers a proprietary platform, but they both have Windows-based desktop and web-based browser platforms. Furthermore, IC Markets and BlackBull Markets facilitate copy trading and offer popular platforms such as MetaTrader 4 and MetaTrader 5. Notably, ZuluTrade is supported by both brokers, yet neither offers DupliTrade. For charting capabilities, IC Markets provides 15 drawing tools, whereas BlackBull Markets steps ahead with 60, though neither specifies the number of technical indicators available.
Trading directly from stock charts is a feature available with both brokers, ensuring a seamless experience. IC Markets includes seven columns for watchlists, one more than BlackBull Markets, which offers six. Each broker is rated 4 stars for its trading platforms and tools, reflecting user satisfaction and efficiency. However, in the ForexBrokers.com rankings of 62 brokers, IC Markets holds a higher spot at #16, compared to BlackBull Markets, which is ranked at #28. This suggests a slight edge for IC Markets in overall trading platform performance and tools, though both brokers are strong contenders in the trading space.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 109 |
| Charting - Drawing Tools (Total) | 15 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IC Markets and BlackBull Markets, both brokerages provide strong options for traders using iPhone and Android devices. IC Markets and BlackBull Markets offer features such as the ability to create watchlists with real-time quotes and receive stock or forex price alerts. While both platforms allow drawing trendlines and viewing different time frames on charts, a key difference lies in watchlist syncing. BlackBull Markets offers this feature, allowing changes made in the mobile app to sync with the client’s online account, unlike IC Markets.
For charting capabilities, both apps include 30 technical studies, and they also auto-save drawings, offering versatility for technical analysis. In terms of user satisfaction, both mobile apps are rated four out of five stars. However, in rankings provided by ForexBrokers.com, IC Markets is positioned slightly higher at #22 compared to BlackBull Markets at #30, hinting at a slight edge in user preference for IC Markets. Overall, both brokers present competent mobile trading experiences suitable for various levels of traders.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 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.
Both IC Markets and BlackBull Markets provide daily market commentary, keeping traders informed with timely insights. However, IC Markets stands out by offering forex news from top-tier sources like Bloomberg and Reuters, which BlackBull Markets does not. Both brokers equip their clients with advanced analysis tools from Autochartist, but IC Markets takes the lead by providing additional technical analysis resources from Trading Central.
In terms of sentiment-based trading tools, both brokers offer features to help traders gauge the market's mood. They also provide economic calendars for monitoring global news and events. Despite these similarities, IC Markets and BlackBull Markets do not offer research support from TipRanks or Acuity Trading's Signal Centre. Both brokers have earned a solid four-star rating for research; however, BlackBull Markets holds a slightly higher rank at #18, compared to IC Markets at #23, according to ForexBrokers.com.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for new traders, both IC Markets and BlackBull Markets provide a comprehensive range of materials suitable for beginners. These online brokers go above and beyond, offering a variety of educational tools including articles, videos, and archived webinars with forex and CFDs as the primary focus. Each platform hosts monthly online webinars for clients, ensuring participants can stay up-to-date with trading strategies and market trends. Both brokers also maintain searchable archives of past webinars for those who wish to revisit the sessions. With at least ten beginner-centric videos, newcomers can comfortably grasp trading basics with either broker. Furthermore, IC Markets and BlackBull Markets cater to more advanced traders by offering a similar number of in-depth educational videos for this audience.
In addition to multimedia content, both platforms provide valuable investor dictionaries with over 50 key investing terms, which is crucial for demystifying trading jargon for beginners. When examining ratings, both IC Markets and BlackBull Markets receive a solid 4 out of 5 stars for their educational offerings. However, IC Markets stands slightly higher in terms of rankings, placed at #16 out of 62 brokers by ForexBrokers.com, compared to BlackBull Markets, which is ranked at #29. Despite this ranking difference, both brokers present a strong foundation for beginners seeking educational resources to kickstart their trading journey.
| Feature |
IC Markets
|
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 IC Markets is better than BlackBull Markets. IC Markets finished with an overall rank of #20, while BlackBull Markets finished with an overall rank of #24.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 78 |
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Both IC Markets and BlackBull Markets do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
Compared to BlackBull Markets, which does not support PayPal, IC Markets provides more flexible deposit and withdrawal options with PayPal availability, alongside both brokers offering Visa, Mastercard, Skrill, and bank wire services, yet neither accommodating ACH or SEPA transfers.
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 | IC Markets | BlackBull Markets | |
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| Trust Score | 84 | 78 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BlackBull Markets Review |
| Broker Screenshots | IC Markets | BlackBull Markets | |
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| Regulation | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 84 | 78 | |
| Year Founded | 2007 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | 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) | No | 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) | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 26000 | |
| Forex Pairs (Total) | 61 | 72 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | No | No |
| Trading Platforms | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 6 | |
| Charting - Indicators / Studies (Total) | 30 | 109 | |
| Charting - Drawing Tools (Total) | 15 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 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 | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | BlackBull Markets Review |
| Overall | IC Markets | BlackBull Markets | |
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| Trust Score | 84 | 78 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BlackBull Markets Review |
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