Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and BlackBull Markets are two reputable online brokers often compared by traders. Founded in 2010, Pepperstone boasts high trust levels with a ForexBrokers.com Trust Score of 95 out of 99, indicating it is a highly trusted broker. It holds three Tier-1 licenses and two Tier-2 licenses, which further ensure its standing as a reliable choice for investors. BlackBull Markets, established in 2014, has a Trust Score of 78, suggesting an average risk according to ForexBrokers.com. It holds one Tier-1 license, but no Tier-2 licenses, which places it slightly behind Pepperstone in terms of regulatory backing and overall trust level.
Both Pepperstone and BlackBull Markets are not publicly traded on any stock exchange, nor are they structured as banks. These factors are essential considerations for traders looking to understand the operational scope and regulatory frameworks of each broker. While Pepperstone appears to offer stronger regulatory assurances, BlackBull Markets still provides a dependable trading environment, albeit with a different risk profile according to industry ratings. This variety offers traders choices based on their trust and regulatory preferences.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 2010 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone and BlackBull Markets are two prominent online brokers that offer competitive commission structures and fees, catering to both novice and high-volume traders. Pepperstone shines with its Razor account, featuring an average spread of 0.10 pips on EUR/USD pairs as of July 2024, and a total cost of 0.80 pips after commissions, which aligns with the industry average. Their Standard account, meanwhile, is commission-free but less competitive with an average spread of 1.1 pips. For active traders, Pepperstone’s Active Trader program offers rebates based on trading volume, with significant discounts for high-volume trades, especially for professional clients in the UK, EU, and Australia. Rated 4.5 stars for commissions and fees, Pepperstone ranks #10 out of 62 brokers.
In comparison, BlackBull Markets offers average trading costs across its three account types. Their Prime account, considered the most cost-effective, has an average spread of 0.16 pips on EUR/USD pairs as of March 2024, resulting in an all-in cost of 0.76 pips, factoring in a commission of $6 per 10,000 traded. The Prime account requires a $2,000 minimum deposit. Alternatively, the Standard account offers commission-free trading with no minimum deposit, albeit with higher spreads. BlackBull's ECN Institutional account caters to elite traders, demanding a $20,000 deposit and featuring low commission rates. Also rated 4.5 stars, BlackBull Markets stands at #18 in the commissions and fees ranking from ForexBrokers.com.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.00 | 0.71 |
| All-in Cost EUR/USD - Active | 0.70 | 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.
When comparing Pepperstone and BlackBull Markets, both brokers offer forex trading as CFDs or spot contracts, providing options for traders to engage with the forex market. However, BlackBull Markets stands out with a substantially larger range of tradeable symbols, offering over 26,000 compared to Pepperstone's 1,726, including 72 forex pairs, whereas Pepperstone offers 65. Additionally, BlackBull Markets provides the opportunity to invest in exchange-traded securities on both U.S. and international exchanges, such as buying shares of Apple or Vodafone. In contrast, Pepperstone does not offer such securities, limiting its investment range to CFDs and other derivative products.
Both brokers support copy trading and allow trading of cryptocurrency derivatives rather than the actual cryptocurrencies, catering to those interested in digital assets while avoiding direct ownership. In terms of their overall range of investments, Pepperstone is rated four stars out of five, and it holds the 26th position in rankings among 62 brokers, according to ForexBrokers.com. BlackBull Markets, on the other hand, earns a five-star rating and ranks significantly higher at sixth place, highlighting its broader spectrum of available investments and trading opportunities.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 26000 |
| Forex Pairs (Total) | 65 | 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.
Pepperstone and BlackBull Markets both offer a wide range of trading platforms and tools suitable for day traders and seasoned investors alike. Both brokers provide free virtual demo accounts, giving users the chance to practice risk-free, and each supports popular platforms like MetaTrader 4 and MetaTrader 5. A notable difference is that Pepperstone features a proprietary platform, adding an extra layer of choice, whereas BlackBull Markets does not offer this option. Both platforms are accessible on Windows desktops and web browsers, ensuring flexibility for traders across various devices.
In terms of advanced trading features, Pepperstone offers tools like DupliTrade for enhanced trade execution, but lacks ZuluTrade, which BlackBull Markets supports. Pepperstone provides comprehensive charting with 30 drawing tools and allows trading directly from stock charts—similar to BlackBull Markets, which, however, offers 60 drawing tools for more detailed analysis. Pepperstone surpasses in watchlist customization with 7 columns, compared to BlackBull’s 6. Despite these differences, both are fairly rated with 4 stars for their platforms and tools. According to ForexBrokers.com, Pepperstone holds a slightly better rank at #22, while BlackBull Markets comes in at #28 out of 62 brokers.
| Feature |
Pepperstone
|
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 | Yes | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 15 | 109 |
| Charting - Drawing Tools (Total) | 30 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Pepperstone and BlackBull Markets provide comprehensive mobile trading apps for iPhone and Android users, ensuring you can trade on the go regardless of your device. These apps allow traders to set up and receive stock or forex price alerts and offer convenient watchlist symbol syncing. This feature ensures that any changes you make to your watchlists in the mobile app are mirrored in your online account and vice versa. Both apps excel in charting capabilities, offering 30 technical studies each. Users can draw trendlines, view multiple time frames like daily, weekly, or intraday, and have their chart drawings automatically saved for future reference.
Additionally, both Pepperstone and BlackBull Markets enable the creation of watchlists with real-time quotes, keeping traders informed and ready to act. When it comes to ratings, both mobile apps score a respectable four out of five stars. According to ForexBrokers.com, Pepperstone's mobile app holds the 21st spot among 62 brokers, slightly ahead of BlackBull Markets, which ranks at 30th. Whether you choose Pepperstone or BlackBull Markets, you'll have access to a feature-rich mobile trading experience.
| Feature |
Pepperstone
|
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 | 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 it comes to market research, Pepperstone and BlackBull Markets both offer daily market commentary, keeping traders informed about the latest market trends. Pepperstone gains a notable edge by providing forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, while BlackBull Markets lacks this feature. Both brokers offer tools for technical and fundamental analysis from Autochartist and provide sentiment-based trading tools to gauge market positions. However, neither broker offers tools from Trading Central or market research from TipRanks and Acuity Trading, indicating similarities in some areas of their research offerings.
Both Pepperstone and BlackBull Markets include an economic calendar to track global news events, providing traders with important information on economic developments. In terms of research ratings, Pepperstone is rated slightly higher at 4.5 stars compared to BlackBull Markets' 4 stars. According to ForexBrokers.com, this distinction is reflected in their rankings, with Pepperstone placed at #12 out of 62 brokers, while BlackBull Markets ranks at #18. This comparison highlights the strengths Pepperstone holds in offering superior research resources, making it a strong option for traders seeking comprehensive market insights.
| Feature |
Pepperstone
|
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.
Pepperstone and BlackBull Markets both provide a solid range of educational resources tailored for forex and CFDs beginners. Each platform offers a minimum of 10 educational pieces, including articles and videos, ensuring beginners can find plenty of content to help them get started. Both brokers conduct at least one educational webinar per month, providing live learning opportunities. For those who may miss a live session, each broker maintains a searchable archive of recorded webinars, giving users access to past content on demand.
For video content, both Pepperstone and BlackBull Markets offer more than 10 beginner-friendly videos to help new traders understand the basics. They also provide over 10 advanced videos for traders seeking to deepen their knowledge. Additionally, they both have investor dictionaries containing at least 50 investing terms, helping clients with key definitions. In terms of user ratings, Pepperstone earns a score of 4.5 stars for its educational offerings and is ranked 18th out of 62 brokers by ForexBrokers.com. BlackBull Markets, in comparison, is rated 4 stars and ranks 29th, indicating Pepperstone is slightly ahead in user satisfaction for educational services.
| Feature |
Pepperstone
|
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 Pepperstone is better than BlackBull Markets. Pepperstone finished with an overall rank of #16, while BlackBull Markets finished with an overall rank of #24.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 78 |
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Both Pepperstone and BlackBull Markets provide opportunities to invest in cryptocurrency derivatives, but neither offers the option to purchase actual, delivered cryptocurrencies.
When comparing online brokers, Pepperstone provides more diverse funding methods, including ACH, SEPA, and PayPal, alongside Skrill, Visa/Mastercard, and bank wires, whereas BlackBull Markets supports Skrill, Visa/Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal options.
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 | Pepperstone | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | BlackBull Markets Review |
| Broker Screenshots | Pepperstone | BlackBull Markets | |
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| Regulation | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 95 | 78 | |
| Year Founded | 2010 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | 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) | 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) | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 26000 | |
| Forex Pairs (Total) | 65 | 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 | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | 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 | Pepperstone | 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 | Yes | Yes | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 6 | |
| Charting - Indicators / Studies (Total) | 15 | 109 | |
| Charting - Drawing Tools (Total) | 30 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | 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 | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | BlackBull Markets Review |
| Overall | Pepperstone | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | BlackBull Markets Review |
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