Written by ForexBrokers.com
In this head to head comparison of BlackBull Markets vs Alpari, 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.
BlackBull Markets and Alpari are both online brokers catering to a wide range of traders, but they differ notably in their regulatory standings and perceived trustworthiness. Founded in 2014, BlackBull Markets, though young, has secured one Tier-1 license, which is a mark of high trust according to ForexBrokers.com. It holds a Trust Score rating of 78, placing it in the average risk category, suggesting a moderate level of confidence for users engaging with their services.
In contrast, Alpari, established in 1998, has more experience but no Tier-1 licenses under its belt. This absence could be a significant point of consideration for potential investors seeking credible protection measures. With a Trust Score rating of 68, Alpari falls into the high-risk bracket, indicating the need for heightened caution when choosing to trade through this platform. Neither BlackBull Markets nor Alpari is publicly traded, and neither functions as a bank, two factors prospective clients may want to consider when evaluating their options.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Year Founded | 2014 | 1998 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 1 | 0 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
BlackBull Markets charges about average trading costs overall, with fees varying by account. The Standard account is commission-free with no minimum deposit but uses wider spreads. The Prime account requires a $2,000 minimum and charges $3 per side ($6 round turn) per lot, in exchange for tighter pricing; in March 2024 the average EUR/USD spread on Prime was 0.16 pips, for an all-in cost of about 0.76 pips after commission. For high-volume clients, the ECN Institutional account starts at $20,000 and lowers commissions to $2 per side ($4 round turn). BlackBull Markets earns 4.5/5 stars for commissions and fees and ranks #19 out of 63 brokers with ForexBrokers.com.
Alpari’s average spread data isn’t available, so it’s harder to estimate typical trade costs or compare all-in pricing across account types. That said, Alpari holds a 4/5 star rating for commissions and fees and ranks #42 out of 63 brokers with ForexBrokers.com.
Bottom line: BlackBull Markets provides clearer pricing and, on its Prime account, potentially lower all-in costs for active or spread-sensitive traders—if you can meet the minimum deposit. Alpari may still be competitive, but the lack of published average spreads makes side-by-side cost comparisons less precise.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average Spread EUR/USD - Standard | 0.71 | N/A |
| All-in Cost EUR/USD - Active | 0.71 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | 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.
BlackBull Markets and Alpari both let you trade forex via CFDs (contracts for difference) or spot. The key difference is scale: BlackBull Markets offers about 26,000 tradeable symbols and 72 forex pairs, while Alpari lists 105 symbols and 46 pairs. Reflecting this breadth, ForexBrokers.com rates BlackBull Markets 5/5 stars and ranks it 6th out of 63 brokers for Range of Investments; Alpari earns 3/5 stars and ranks 64th out of 63.
For stocks, BlackBull Markets lets you buy exchange-traded U.S. shares (like Apple on NASDAQ) and international shares, whereas Alpari supports exchange-traded international shares but not U.S. shares. Both brokers offer copy trading. Neither broker sells actual (delivered) cryptocurrency, but both provide access to cryptocurrency derivatives for traders who want crypto price exposure without owning the coins.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 26000 | 105 |
| Forex Pairs (Total) | 72 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| 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.
BlackBull Markets and Alpari both make it easy to start with a free demo (paper) account and offer Windows desktop and web trading platforms. Each supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), plus copy trading. Alpari also offers its own proprietary platform, while BlackBull relies on third‑party platforms. ZuluTrade is available at BlackBull but not at Alpari, and neither broker supports DupliTrade. Both let you place trades directly from charts.
For charting, BlackBull lists 60 drawing tools versus Alpari’s 15 (indicator counts vary by platform). Watchlists include 6 fields at BlackBull and 7 at Alpari. Both earn 4 stars for Trading Platforms and Tools, yet BlackBull ranks higher in this category (#31 of 63) compared with Alpari (#56 of 63). If you want ZuluTrade and more drawing tools, BlackBull stands out; if you prefer a proprietary platform and slightly more watchlist fields, consider Alpari.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| 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 | No |
| Charting - Indicators / Studies (Total) | 109 | 30 |
| Charting - Drawing Tools (Total) | 60 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
BlackBull Markets and Alpari both deliver mobile trading apps for iPhone and Android. Each app supports price alerts and real-time watchlists, plus charting with 30 technical studies, trendline drawing, and multiple time frames. That means you can track markets, analyze charts, and act quickly from your phone on either platform.
The key differences show up in everyday use. BlackBull Markets syncs watchlists with your online account and auto-saves your chart drawings, while Alpari lacks both features. Although both earn 4 stars for Mobile Trading Apps, ForexBrokers.com ranks BlackBull Markets higher (#33 out of 63) than Alpari (#57). If you want watchlist syncing and saved chart notes, BlackBull Markets has the edge; if you just need core mobile trading tools, both will get the job done.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research, BlackBull Markets focuses on in-house insights while Alpari emphasizes curated news. BlackBull delivers daily market commentary, a trader sentiment tool, Autochartist for technical ideas, and an economic calendar. It does not include Trading Central, TipRanks, Acuity Trading tools, or premium news feeds. Alpari skips daily commentary but provides forex news from major outlets, plus Autochartist and an economic calendar; it does not offer Trading Central or a sentiment tool, and TipRanks/Acuity availability is not specified.
Overall, BlackBull Markets earns 4 out of 5 stars for Research and ranks #18 out of 63 brokers on ForexBrokers.com, while Alpari scores 3 out of 5 stars and ranks #58 out of 63. If you want daily analysis and a view of crowd positioning, BlackBull Markets is the stronger pick; if headline-driven forex news matters more, Alpari has the edge.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners at BlackBull Markets and Alpari, BlackBull Markets stands out as a more comprehensive option. Both platforms provide more than 10 educational materials focused on forex and CFDs, blending articles, videos, and more. However, BlackBull Markets offers monthly online webinars and maintains a searchable archive of these sessions, making it easier for beginners to revisit past content. This is not a feature offered by Alpari, which can limit access to continuous learning. Both platforms cater to beginners with specialized video content, but BlackBull Markets extends its offerings to include advanced topics—a resource Alpari lacks.
Further enhancing the learning experience, BlackBull Markets provides an investor dictionary with over 50 term definitions, matching Alpari in this aspect. When rating their overall educational quality, BlackBull Markets earns 4 out of 5 stars, while Alpari receives 3 stars. According to ForexBrokers.com’s rankings, BlackBull Markets secures a higher position at 29th out of 63 brokers compared to Alpari’s 48th spot. This comparison highlights that for beginners, BlackBull Markets offers a more thorough educational platform, beneficial for both newcomers wanting foundational knowledge and those looking to advance their trading skills.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that BlackBull Markets is better than Alpari. BlackBull Markets finished with an overall rank of #24, while Alpari finished with an overall rank of #58.
BlackBull Markets is a plain-vanilla MetaTrader broker with a growing range of products and support for a handful of third-party social copy trading platforms.
| Feature |
BlackBull Markets
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 78 | 68 |
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Both BlackBull Markets and Alpari do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
Both BlackBull Markets and Alpari lack options for ACH or SEPA transfers and PayPal for depositing or withdrawing account funds, but they do provide Skrill, Visa or Mastercard, and bank wires as payment methods.
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 | BlackBull Markets | Alpari | |
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| Trust Score | 78 | 68 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review |
| Broker Screenshots | BlackBull Markets | Alpari | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | BlackBull Markets | Alpari | |
|---|---|---|---|
| Trust Score | 78 | 68 | |
| Year Founded | 2014 | 1998 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 1 | 0 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | BlackBull Markets | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | BlackBull Markets | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| 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) |
| Investments | BlackBull Markets | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 26000 | 105 | |
| Forex Pairs (Total) | 72 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| 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 | BlackBull Markets | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.71 | N/A | |
| All-in Cost EUR/USD - Active | 0.71 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | BlackBull Markets | Alpari | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | No | 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 | BlackBull Markets | Alpari | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| 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 | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | BlackBull Markets | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 109 | 30 | |
| Charting - Drawing Tools (Total) | 60 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | BlackBull Markets | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | BlackBull Markets | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | ||
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | BlackBull Markets | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | BlackBull Markets | Alpari | |
|---|---|---|---|
| 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 | BlackBull Markets Review |
| Overall | BlackBull Markets | Alpari | |
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| Trust Score | 78 | 68 | |
| Winner | check_circle | ||
| Review | BlackBull Markets Review |
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