Written by ForexBrokers.com
In this head to head comparison of CMC 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 1989, CMC Markets boasts a long history in the financial trading industry, and is a publicly traded entity. It holds an impressive 6 Tier-1 licenses and an additional Tier-2 license, earning it the highest Trust Score rating of 99 out of 99 from ForexBrokers.com. This score categorizes CMC Markets as a highly trusted broker. Although it is not a bank, its comprehensive regulatory backing provides strong assurance for traders seeking security and credibility in an online broker.
In comparison, BlackBull Markets was established more recently in 2014 and is not publicly traded. It offers a singular Tier-1 license, without Tier-2 credentials, which reflects its ForexBrokers.com Trust Score rating of 78 out of 99. This places BlackBull Markets within the average risk category. Though it is not considered high risk, traders might find greater peace of mind with brokers that possess more extensive regulatory oversight.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1989 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Looking at commissions and fees, CMC Markets is the clear price leader: it’s rated 5 stars and ranked #1 of 63 brokers for this category, while BlackBull Markets earns 4.5 stars and ranks #19 of 63. In practice, this means CMC Markets tends to deliver lower all-in trading costs across account types, whereas BlackBull’s pricing sits closer to the industry average and varies more by account.
CMC Markets posts tight average spreads, with the EUR/USD around 0.61 pips (Aug 2023). Its FX Active plan uses commission-based pricing at $2.50 per side with minimum spreads of zero, producing an all-in cost of about 0.5 pips on EUR/USD (and several other major pairs). High-volume traders can also unlock spread discounts via the Price Plus Scheme, which rewards monthly trading activity. Notably, CMC’s average spreads have historically stayed close to its advertised minimums, supporting its top ranking for low costs.
BlackBull Markets’ pricing depends on account choice. The Standard account is commission-free with no minimum deposit but comes with higher spreads. The Prime account requires a $2,000 minimum and charges $3 per side ($6 round turn) in commission; its average EUR/USD spread was 0.16 pips in March 2024, for an all-in cost near 0.76 pips—making Prime the better value versus Standard. Active traders can opt for the ECN Institutional account (minimum $20,000) with commissions of $2 per side ($4 round turn). Overall, BlackBull’s costs are competitive but generally higher than CMC Markets’ best pricing.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.3 | 0.71 |
| All-in Cost EUR/USD - Active | 0.65 | 0.71 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets and BlackBull Markets both offer extensive investment options for traders. CMC Markets provides access to 12,029 tradeable symbols, while BlackBull Markets surpasses this with 26,000 symbols. When it comes to forex trading, both brokers offer it as a CFD or spot contract. However, CMC Markets stands out with 141 tradeable forex pairs compared to BlackBull Markets’ 72 pairs. Both platforms allow investors to purchase exchange-traded securities on U.S. and international exchanges, ensuring the ability to invest in notable stocks like Apple and Vodafone.
For those interested in modern trading options, both brokers support copy trading and cryptocurrency derivatives, though they do not offer the purchase of actual cryptocurrencies. In terms of their range of investments, both CMC Markets and BlackBull Markets are rated highly with 5 stars. Nonetheless, BlackBull Markets slightly edges out CMC Markets in the ForexBrokers.com rankings, positioned at #6 compared to CMC Markets' #9, indicating a slightly broader investment offering.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 26000 |
| Forex Pairs (Total) | 141 | 72 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
CMC Markets and BlackBull Markets both make it easy to get started with a free demo for paper trading, and each supports Windows desktop and web-based (browser) platforms. CMC Markets offers its own in-house platform alongside MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while BlackBull Markets focuses on MetaTrader and does not provide a proprietary alternative. Both brokers support copy trading and let you place trades directly from charts. Details such as the number of built-in indicators, drawing tools, watchlist columns, or specific copy networks like DupliTrade or ZuluTrade were not confirmed here.
For platform quality, CMC Markets earns 5 stars and ranks #4 out of 63 brokers for Trading Platforms and Tools on ForexBrokers.com, while BlackBull Markets holds 4 stars and ranks #31. If you want a refined proprietary platform plus MT4 and MT5, CMC Markets stands out; if you prefer a MetaTrader-first setup with desktop and web access and copy trading, BlackBull Markets is a solid pick.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 73 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing mobile trading apps, both CMC Markets and BlackBull Markets offer iPhone and Android versions, support price alerts, and sync watchlists across mobile and web so your changes carry over. Based on ForexBrokers.com, CMC Markets earns 5 stars and ranks #5 out of 63 brokers for Mobile Trading Apps, while BlackBull Markets earns 4 stars and ranks #33.
For charting, CMC Markets provides 29 technical studies, and BlackBull Markets offers 30. Both apps let you draw trendlines on stock or forex charts and automatically save your drawings. Details about viewing multiple time frames and creating watchlists with real-time quotes were not specified.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist [DELETED] |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings, CMC Markets and BlackBull Markets both provide daily market commentary and valuable tools from Autochartist, making them strong options for traders keen on market analysis. CMC Markets, however, sets itself apart with forex news from premium sources like Bloomberg and Reuters, which BlackBull Markets does not offer. Both brokers deliver sentiment-based trading tools, helping traders understand the ratio of long or short positions across various instruments. Additionally, they both feature an economic calendar to keep traders informed of current and future global economic events.
Despite some similarities, CMC Markets' comprehensive offering earns it a higher research rating of 5 stars compared to BlackBull Markets' 4 stars. This higher rating is further reflected in their rankings, with CMC Markets placing 6th and BlackBull Markets 18th out of 63 brokers according to ForexBrokers.com. These rankings underscore CMC Markets' superior market research capabilities, making it a preferable choice for those seeking in-depth market insights.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginners, both CMC Markets and BlackBull Markets offer at least 10 beginner-friendly trading videos, along with at least 10 advanced videos for when you’re ready to go deeper. That said, CMC Markets holds a stronger overall education score: it’s rated 5 stars and ranked #10 out of 63 brokers by ForexBrokers.com, while BlackBull Markets is rated 4 stars and ranked #29. If you want a higher-rated library and clear paths from beginner to advanced topics, CMC Markets stands out.
Live learning is where BlackBull can appeal to newcomers: it offers monthly educational webinars, while CMC Markets does not. Whether each broker provides a searchable archive of past webinars, a large investor dictionary, or at least 10 general forex/CFD education pieces is not specified. In short, choose BlackBull if ongoing live sessions matter most, and pick CMC Markets if you value a higher-rated education experience with plenty of video lessons for beginners.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Webinars | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that CMC Markets is better than BlackBull Markets. CMC Markets finished with an overall rank of #4, while BlackBull Markets finished with an overall rank of #24.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
|
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| Trust Score | 99 | 78 |
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Both CMC Markets and BlackBull Markets provide opportunities to trade cryptocurrency derivatives but do not offer the option to purchase actual, delivered cryptocurrencies.
For deposit and withdrawal options, CMC Markets supports ACH/SEPA, PayPal, and bank wire transfers, while BlackBull Markets offers Skrill and bank wire transfers but not ACH/SEPA or PayPal; Visa/Mastercard availability is not specified for either broker.
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 | CMC Markets | BlackBull Markets | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | BlackBull Markets Review |
| Broker Screenshots | CMC Markets | BlackBull Markets | |
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| Regulation | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 99 | 78 | |
| Year Founded | 1989 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 26000 | |
| Forex Pairs (Total) | 141 | 72 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.65 | 0.71 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 73 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | CMC Markets | BlackBull Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | CMC Markets Review | BlackBull Markets Review |
| Overall | CMC Markets | BlackBull Markets | |
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| Trust Score | 99 | 78 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | BlackBull Markets Review |
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