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 |
IC Markets stands out in the competitive world of online brokers by offering some of the lowest trading costs available today. Recognized as Best in Class for Commissions & Fees in the 2024 Annual Awards, IC Markets provides traders with three account types: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account features a slightly lower commission rate, charging $3.00 per side for every 100,000 units traded, compared to the $3.50 per side charged by the MetaTrader accounts. Average spreads for IC Markets on the popular EUR/USD currency pair are impressive, coming in at just 0.02 pips (as of August 2022), making their total cost highly competitive at 0.62 to 0.72 pips depending on the account type.
On the other hand, BlackBull Markets offers trading costs that are average for the industry, with its three account types tailored to different needs. The Standard account requires no minimum deposit and levies no commissions, though its spreads are higher. The Prime account, considered a better choice among its offerings, comes with a $2,000 minimum deposit and lower spreads, but it charges a commission of $6 per round turn per lot. For more active traders, BlackBull Markets provides the ECN Institutional account, requiring a $20,000 deposit and even lower commissions at $4 per round turn. BlackBull's average spreads on the EUR/USD for its Prime account measure 0.16 pips, resulting in an all-in cost of 0.76 pips, balancing trade-off between initial deposit and spread.
IC Markets holds a 5-star rating and ranks #5 out of 62 brokers in the Commissions & Fees category by ForexBrokers.com, showcasing its commitment to providing affordable trading conditions. BlackBull Markets, while slightly behind with a 4.5-star rating and ranked #19 in the same category, nonetheless presents a viable option for traders who value low initial deposit options and structured account offerings. Both brokers provide remarkable services, yet each has its unique strengths tailored to different trader profiles.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | 0.76 |
| All-in Cost EUR/USD - Active | 0.62 | 0.76 |
| 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.
When comparing the trading platforms and tools of IC Markets and BlackBull Markets, both brokers provide a well-rounded suite of options catering to traders at various levels of experience. Both brokers offer simulated trading through a free virtual demo account, access to popular platforms like MetaTrader 4 and MetaTrader 5, and copy trading features, including ZuluTrade. Additionally, they also provide web-based and Windows-based desktop trading platforms. Neither broker develops proprietary platforms, focusing instead on established and widely-used software to connect with traders. With IC Markets providing seven watch list columns and BlackBull Markets offering six, users can stay organized and track their preferred investments efficiently.
Charting tools differ between the two, with BlackBull Markets offering a significantly higher number of drawing tools—60, compared to IC Markets' 15—which may be a key consideration for technical traders. Both brokers support trading directly from the chart, enhancing ease of execution and interaction. Despite these differences, both brokers earn a 4-star rating for their platforms and tools. However, according to ForexBrokers.com, IC Markets ranks slightly higher at 17th place when compared against BlackBull Markets, which ranks 28th out of 62 brokers, indicating a slight edge in their trading platform offerings.
| 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.
When comparing market research capabilities, both IC Markets and BlackBull Markets offer daily commentary to keep traders informed. However, IC Markets has a leg up as it provides forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones, which is not available with BlackBull Markets. Both brokers equip their users with advanced technical analysis tools from Autochartist and provide sentiment-based trading tools to gauge market positions across various instruments.
IC Markets also offers technical analytics from Trading Central, while BlackBull Markets does not. Both platforms provide an economic calendar for tracking major global economic events. Despite these variations, both brokers achieve a solid research rating of four stars. Notably, IC Markets is ranked 22nd, while BlackBull Markets is slightly ahead at 18th place out of 62 brokers reviewed by ForexBrokers.com. This suggests that, while they have distinct offerings, their overall research capabilities are quite comparable.
| 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 | 0.76 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.76 | |
| 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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