Written by ForexBrokers.com
In this head to head comparison of FP 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.
FP Markets, established in 2005, is a well-regarded online broker known for holding two highly trusted Tier-1 licenses and one trusted Tier-2 license. This Sydney-based broker is not publicly traded and does not operate as a bank. With a Trust Score of 89 out of 99, FP Markets falls into the trusted category according to ForexBrokers.com. These credentials underscore its stability and reliable service for those venturing into online trading.
On the other hand, BlackBull Markets, founded in 2014, distinguishes itself by holding one highly trusted Tier-1 license. Like its counterpart, it is not listed on any stock exchange and is not a bank. With a Trust Score of 78, BlackBull Markets carries an average risk rating from ForexBrokers.com. Both brokers offer unique strengths, with FP Markets boasting higher trust ratings and more regulatory licenses.
| Feature |
FP Markets
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 2005 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Comparing commissions and fees, FP Markets leans cheaper on its commission-based accounts, while BlackBull Markets sits closer to industry average depending on the plan you choose. FP Markets earns 5 stars for Commissions and Fees and ranks #11 out of 63 brokers, thanks to sharp pricing on MetaTrader and cTrader plus recognition as Best in Class in 2024. BlackBull Markets scores 4.5 stars and ranks higher at #9 out of 63, reflecting competitive—but not ultra-low—costs across its account lineup.
FP Markets’ Raw ECN account is the standout: average spreads were 0.1 pips (as of October 2023), about 0.8 pips all-in once you add the $6 round-turn commission per standard lot. Its Standard (spread-only) account is pricier, averaging 1.1 pips on EUR/USD. You can access similar choices on cTrader. FP Markets also offers Iress with Direct Market Access and full depth of book; however, the ViewPoint tiers (AUD 1,000/25,000/50,000 minimums) can add platform and data fees unless you’re on Premier or generate at least AUD 150 in monthly commissions. The lower-cost Iress Investor plan waives monthly fees but limits streaming data and charting.
At BlackBull Markets, the Standard account is commission-free with no minimum deposit but carries higher spreads. The Prime account requires a $2,000 minimum, trims spreads to an average 0.16 on EUR/USD (March 2024), and charges $3 per side ($6 round-turn) for an estimated 0.76 pips all-in. Active traders can step up to the ECN Institutional account with a $20,000 minimum and lower commissions of $2 per side ($4 round-turn). Overall, BlackBull offers solid value—especially on Prime—while FP Markets can be cheaper for traders who want the tightest spreads with a clear, low commission.
| Feature |
FP Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $100 AUD | $0 |
| Average spread (EUR/USD) - Standard account | 1.3 | 1.16 |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing FP Markets vs BlackBull Markets for range of investments: both let you trade forex as spot or CFDs and support copy trading. BlackBull lists about 26,000 tradable instruments and 72 forex pairs, while FP Markets offers around 10,000 symbols and 71 pairs. Only BlackBull provides access to exchange-traded U.S. and international shares (for example, Apple on NASDAQ and Vodafone in London); FP Markets does not. Both brokers offer cryptocurrency via CFDs, and neither lets you buy actual crypto. For Range of Investments, BlackBull earns 5 stars and ranks #7 of 63 at ForexBrokers.com; FP Markets scores 4.5 stars and ranks #16.
If you want a bigger catalog and the ability to buy listed stocks directly, BlackBull Markets is the stronger pick. If you only plan to trade forex and CFDs, FP Markets still offers a wide selection with copy trading and crypto CFD access.
| Feature |
FP Markets
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 26000 |
| Forex Pairs (Total) | 71 | 72 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | 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.
FP Markets and BlackBull Markets both check key boxes for everyday traders: each offers a free demo account, copy trading, and the popular MetaTrader 4 and MetaTrader 5 platforms. You can trade from charts, and use both web-based and Windows desktop platforms. A notable difference is that FP Markets also provides a proprietary, in-house platform, while BlackBull Markets sticks to third-party options like MetaTrader.
In independent testing of trading platforms and tools, both brokers earned 4 out of 5 stars. FP Markets ranks #22 out of 63 brokers on ForexBrokers.com, while BlackBull Markets comes in at #25. Choose FP Markets if you want the extra choice of a proprietary platform alongside MetaTrader; pick BlackBull Markets if you’re happy with MetaTrader and a straightforward web and desktop setup.
| Feature |
FP 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) | 30 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and BlackBull Markets both offer iPhone and Android mobile trading apps with price alerts, trendline drawing, and auto-saving of chart annotations. Each earns a 4-star rating for Mobile Trading Apps. In ForexBrokers.com’s rankings, FP Markets places #20 out of 63 brokers, while BlackBull Markets comes in at #27.
Key differences: BlackBull Markets supports watchlist syncing between its mobile app and your online account, while FP Markets does not. For charting, FP Markets relies on MetaTrader’s default indicator set, whereas BlackBull Markets lists 30 built-in technical studies. Choose FP Markets if you want the familiar MetaTrader experience, or pick BlackBull Markets if synced watchlists and a clear set of 30 studies matter most.
| Feature |
FP Markets
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
In the FP Markets vs BlackBull Markets research comparison, both brokers deliver daily market commentary and an economic calendar, plus popular trader aids like Autochartist and a sentiment tool that shows the ratio of long vs. short positions. FP Markets stands out for offering premium forex news from outlets such as Bloomberg, Reuters, or Dow Jones, and it adds Trading Central for extra technical and fundamental insights. BlackBull Markets does not provide those two extras. Neither broker includes research from TipRanks or tools from Acuity Trading.
Both brokers earn 4 stars for Research from ForexBrokers.com, though BlackBull Markets ranks higher overall (#16 out of 63) than FP Markets (#22 out of 63). Choose FP Markets if you want premium news and Trading Central alongside the core research lineup; pick BlackBull Markets if you prefer the essentials with a higher category placement.
| Feature |
FP Markets
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FP Markets and BlackBull Markets both deliver beginner-friendly forex and CFD education. Each broker provides a library well beyond 10 pieces—spanning articles, videos, and archived webinars—plus ongoing client webinars at least once a month. New traders can start with dedicated beginner video series (10+ videos at each broker) and later move into advanced lessons (10+ videos), making it easy to progress from basics like terminology and order types to more complex strategies and risk management.
In independent testing by ForexBrokers.com, both earned 4 out of 5 stars for Education. FP Markets ranks #22 of 63 brokers, while BlackBull Markets comes in at #24. The takeaway: education quality is strong at both, with FP Markets holding a slight edge in the rankings. If you value a marginally higher-ranked learning hub, FP Markets is the pick; if you simply want a broad set of beginner resources with frequent webinars, BlackBull Markets keeps pace.
| Feature |
FP Markets
|
BlackBull Markets
|
|---|---|---|
| Webinars | Yes | 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 FP Markets is better than BlackBull Markets. FP Markets finished with an overall rank of #19, while BlackBull Markets finished with an overall rank of #22.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 89 | 78 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
FP Markets vs BlackBull Markets: neither broker lets you buy actual (delivered) cryptocurrency, but both provide cryptocurrency CFD trading.
Comparing deposit and withdrawal options: FP Markets and BlackBull Markets both support Skrill and bank wire transfers and do not offer ACH or SEPA, but only FP Markets supports PayPal, while 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 78 | |
| Winner | check_circle | ||
| Review | FP Markets Review | BlackBull Markets Review |
| Broker Screenshots | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 89 | 78 | |
| Year Founded | 2005 | 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 | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA 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) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 26000 | |
| Forex Pairs (Total) | 71 | 72 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | 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 | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 1.16 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.76 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | FP 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 | Yes | Yes |
| Trading Tools | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FP 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 | FP Markets Review | BlackBull Markets Review |
| Overall | FP Markets | BlackBull Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 78 | |
| Winner | check_circle | ||
| Review | FP Markets Review | BlackBull Markets Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Pepperstone
FP Markets
Tickmill