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.
IC Markets and BlackBull Markets both offer a wide range of trading platforms and tools suited for various types of traders. They provide free virtual demo accounts, enabling users to practice trading without financial risk. While neither broker offers a proprietary platform, they both support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), popular platforms known for their comprehensive trading features. Additionally, both brokers offer Windows-based desktop platforms and web-based options for browser access. Copy trading enthusiasts will find both brokers accommodating, as they support ZuluTrade, allowing users to replicate the strategies of successful traders.
Charting capabilities at IC Markets and BlackBull Markets differ primarily in the number of drawing tools available. IC Markets offers 15 drawing tools, while BlackBull Markets provides a more extensive selection with 60. Both brokers allow trading directly from stock charts, streamlining the trading process for active traders. When it comes to watch list customization, IC Markets provides 7 columns for fields compared to 6 at BlackBull Markets. Despite these differences, both brokers earn a solid 4-star rating for their trading platforms and tools. In the ForexBrokers.com ranking, IC Markets stands out slightly in the category, securing the 16th position out of 62 brokers, while BlackBull Markets is ranked 29th.
| 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.
Both IC Markets and BlackBull Markets provide mobile apps for iPhone and Android users, ensuring flexible access to trading on the go. These apps offer essential features like stock and forex price alerts, the ability to draw trendlines, multiple time frame views, and auto-saving of chart drawings. With each broker providing 30 technical studies for chart analysis, traders have ample tools for insightful market analysis. Additionally, users can create watchlists with real-time quotes, although only BlackBull Markets allows for syncing watchlists between the mobile app and the online account, offering a smoother experience when switching between devices.
While both IC Markets and BlackBull Markets achieve a respectable 4-star rating for their mobile trading apps, IC Markets holds an edge, ranking 22nd among 62 brokers in the Mobile Trading Apps category on ForexBrokers.com. BlackBull Markets is not far behind, sitting at 31st place. This nuanced difference might influence traders deciding between these two platforms, especially if ranking and ease of use are priorities in their mobile trading experience.
| 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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