Written by ForexBrokers.com
In this head to head comparison of OANDA 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 considering online brokers, OANDA and BlackBull Markets stand out for different reasons. Founded in 1996, OANDA has established itself as a highly trusted broker, boasting a ForexBrokers.com Trust Score of 93 out of 99. This high score is largely attributed to OANDA holding seven Tier-1 licenses, known for their strong regulatory trust. Although not a bank and not publicly traded, OANDA's long track record and regulatory credentials speak to its credibility in the online trading arena.
In contrast, BlackBull Markets, founded in 2014, carries a Trust Score of 78 out of 99, classifying it as average risk according to ForexBrokers.com. While it's not publicly traded or a bank, BlackBull Markets has made significant strides in the industry. The company holds one Tier-1 license, which adds a layer of reliability. Though newer and with fewer licenses compared to OANDA, BlackBull Markets continues to cater effectively to traders looking for a trustworthy option.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1996 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of OANDA and BlackBull Markets, OANDA is known for its somewhat steep forex trading costs, with high effective spreads. OANDA's automated execution across its account offering is a beneficial feature but doesn't position the broker as a discount option. The spreads at OANDA are most comparable to brokers like FOREX.com and FxPro. OANDA's core pricing structure includes lower spreads than its default option but adds a commission of $5 per $100,000 worth of currency, making the all-in cost slightly better than its commission-free structure. OANDA gained a rating of 4 stars and ranks 34th among 62 brokers in the Commissions and Fees category.
On the other hand, BlackBull Markets' trading costs are about average across the industry, with variations depending on the chosen account type. Its Prime account offers an average spread of 0.16 on EUR/USD and an all-in cost of 0.76 after including a commission. The Standard account is commission-free but incurs higher spreads, while the ECN Institutional account targets active traders with a deposit requirement of at least $20,000 and offers the lowest commission rates. BlackBull Markets stands out with a higher star rating of 4.5 and is positioned 18th out of 62 brokers.
Both OANDA and BlackBull Markets provide different advantages depending on trader needs. OANDA offers unique features like trading in micro amounts and a rebate program for elite traders, while BlackBull Markets provides lower overall costs in its Prime account, though it does require a higher initial deposit compared to OANDA's options. Both brokers have distinct appeals with varying fees, catering to different types of traders and investment strategies.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 0.71 |
| All-in Cost EUR/USD - Active | 1.61 | 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.
OANDA and BlackBull Markets both offer a variety of investment options, particularly in forex trading. Both platforms provide access to forex trading through CFDs or spot contracts. OANDA gives traders access to 3,928 tradeable symbols and 68 tradeable forex pairs, while BlackBull Markets offers a broader selection with 26,000 symbols and 72 forex pairs. Additionally, OANDA supports copy trading and provides the ability to purchase actual cryptocurrencies, as well as cryptocurrency derivatives. BlackBull Markets, on the other hand, only supports trading in cryptocurrency derivatives, without offering actual cryptocurrencies.
For those interested in trading stocks, BlackBull Markets outshines OANDA by providing access to exchange-traded securities on U.S. and international exchanges, allowing clients to trade stocks like Apple and Vodafone. OANDA does not offer direct access to exchange-traded securities, making BlackBull Markets a more versatile choice for stock investors. Rated 4 stars for its range of investments, OANDA ranks 27th among 62 brokers in the ForexBrokers.com Range of Investments category. Meanwhile, BlackBull Markets boasts a 5-star rating and holds the 6th position in the same category, reflecting its broader spectrum of investment opportunities.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 26000 |
| Forex Pairs (Total) | 68 | 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) | Yes | 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 OANDA and BlackBull Markets provide excellent options for traders looking for versatile trading platforms and tools. Each broker offers a free virtual demo account, allowing users to practice trading strategies in a risk-free environment. When it comes to platforms, OANDA stands out with its proprietary platform developed in-house, while BlackBull Markets relies on third-party solutions. Both brokers offer Windows-based desktop downloads and web-based platforms, accommodating traders who prefer different operating methods. They support industry-favorite platforms like MetaTrader 4 and MetaTrader 5 and offer copy trading features. However, BlackBull Markets provides ZuluTrade integration, which OANDA does not. For charting tools, OANDA provides an impressive set of 431 drawing tools compared to BlackBull Markets' 60.
On trading platforms and tools, both brokers receive a commendable four-star rating, although they differ slightly in rankings, with OANDA securing the 15th spot and BlackBull Markets ranked at 29th according to ForexBrokers.com. OANDA and BlackBull Markets both offer the ability to trade directly from a stock chart and provide similar customizability in watch lists, each supporting six columns. Whether you lean towards a broker with proprietary technologies like OANDA or prefer the added flexibility of third-party platforms and integration options like those offered by BlackBull Markets, both brokers present substantial value in their trading platforms and tools.
| Feature |
OANDA
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 81 | 109 |
| Charting - Drawing Tools (Total) | 431 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of OANDA and BlackBull Markets, both platforms offer comprehensive tools for traders. They each provide apps for iPhone and Android users, enabling on-the-go access to trading accounts. Both apps allow users to receive price alerts for stocks or forex, ensuring that traders remain informed of market movements. Moreover, both platforms offer 30 technical studies for charting, allow drawing of trendlines, and provide the flexibility to view different time frames such as daily or weekly charts. Additionally, any drawings made on these charts are automatically saved, which can be a useful feature for active traders.
Despite their similarities, some key differences are worth noting. While OANDA and BlackBull Markets both enable the creation of watchlists with real-time quotes, only BlackBull Markets offers watchlist syncing between its mobile app and online account, ensuring seamless access across devices. In terms of user ratings, OANDA boasts a five-star score for its mobile trading experience, ranking #7 out of 62 brokers on ForexBrokers.com. Meanwhile, BlackBull Markets holds a four-star rating and ranks #31. This demonstrates OANDA's stronger standing in mobile trading app performance according to user feedback and expert evaluation.
| Feature |
OANDA
|
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 exploring the market research capabilities of OANDA and BlackBull Markets, both brokers offer valuable insights through features like daily market commentary and economic calendars. However, OANDA stands out by providing forex news from prestigious sources such as Bloomberg and Reuters, a feature missing from BlackBull Markets. Both brokers offer tools from Autochartist, helping traders with technical and fundamental analysis, but neither integrates tools from Trading Central or features any offerings from Acuity Trading.
For those interested in sentiment analysis, both OANDA and BlackBull Markets provide a tool that showcases the ratio of long or short positions across various currency pairs. Despite these similarities, OANDA receives higher recognition being ranked 5th out of 62 brokers by ForexBrokers.com for research, compared to BlackBull Markets' 18th place. This higher rating is reflected in OANDA's 5-star review, whereas BlackBull Markets earns a respectable 4 stars.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | 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 beginners, both OANDA and BlackBull Markets provide a solid foundation for those new to forex and CFDs trading. They each offer more than ten educational materials like articles, videos, and archived webinars, that focus primarily on these trading areas. Both brokers keep the learning ongoing with monthly online client webinars and have a searchable archive of recorded sessions for added convenience. Beginner traders will find ample video content tailored specifically to their needs, with both brokers offering at least ten videos dedicated to beginner topics.
In addition to covering basics, both OANDA and BlackBull Markets cater to more experienced traders with educational videos targeting advanced trading strategies. They also enhance learning with comprehensive investor dictionaries boasting over 50 investing terms. While both platforms offer valuable educational resources, OANDA holds a slight edge, with a 5-star rating from ForexBrokers.com compared to BlackBull Markets' 4 stars. OANDA is ranked 22nd out of 62 brokers in the Education category, whereas BlackBull Markets stands at 29th, reflecting OANDA's slight advantage in educational offerings.
| Feature |
OANDA
|
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 OANDA is better than BlackBull Markets. OANDA finished with an overall rank of #12, while BlackBull Markets finished with an overall rank of #24.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 78 |
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OANDA allows you to buy both actual delivered cryptocurrency and cryptocurrency derivatives, whereas BlackBull Markets only offers the ability to buy cryptocurrency derivatives, not the actual delivered cryptocurrency.
When comparing online brokers OANDA and BlackBull Markets, OANDA stands out by offering a broader range of deposit and withdrawal options including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, whereas BlackBull Markets also supports Skrill, Visa or Mastercard, and bank wires, but lacks support for ACH, SEPA transfers, and PayPal.
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 | OANDA | BlackBull Markets | |
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| Trust Score | 93 | 78 | |
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| Review | OANDA Review | BlackBull Markets Review |
| Broker Screenshots | OANDA | BlackBull Markets | |
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| Regulation | OANDA | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 93 | 78 | |
| Year Founded | 1996 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 26000 | |
| Forex Pairs (Total) | 68 | 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) | Yes | 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 0.71 | |
| All-in Cost EUR/USD - Active | 1.61 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | OANDA | 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) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | OANDA | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 6 | |
| Charting - Indicators / Studies (Total) | 81 | 109 | |
| Charting - Drawing Tools (Total) | 431 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | OANDA Review | BlackBull Markets Review |
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| Trust Score | 93 | 78 | |
| Winner | check_circle | ||
| Review | OANDA Review | BlackBull Markets Review |
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