Written by ForexBrokers.com
In this head to head comparison of FXCM 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 comparing online brokers FXCM and BlackBull Markets, several factors can help traders make informed decisions. Established in 1999, FXCM is a publicly traded company, while BlackBull Markets, founded in 2014, remains privately held. Neither of the companies operates as a bank. A key consideration in their comparison is their regulatory standing: FXCM holds 4 Tier-1 licenses and 2 Tier-2 licenses, reflecting a strong presence in highly trusted and trusted regulatory environments. In contrast, BlackBull Markets has 1 Tier-1 license and no Tier-2 licenses.
The ForexBrokers.com Trust Score provides a clear picture of each broker's reliability, with FXCM scoring an impressive 95 out of 99, placing it in the highly trusted category. On the other hand, BlackBull Markets has a Trust Score of 78, indicating an average risk broker. These trust scores, alongside their regulatory licenses and company specifics, offer potential clients important insights into each broker's security and accountability levels.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1999 | 2014 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When evaluating FXCM and BlackBull Markets for their commissions and fees, both brokers offer competitive offerings, though there are notable differences. FXCM’s pricing for forex trading is slightly above the industry average. In May 2024, the average spread for EUR/USD was 0.78 pips across its EU, U.K., and Australia branches, while its St. Vincent and the Grenadines branch had a higher average spread of 1.38 pips. FXCM does offer commission-based accounts with low underlying spreads averaging 0.28 pips, but once commissions are included, the effective spread increases to about 0.74 pips. FXCM features an Active Trader Rebate Program with five tiers, offering rebates up to $25 per million traded. For commissions and fees, FXCM has a rating of 4 out of 5 stars and ranks 24th out of 63 brokers according to ForexBrokers.com.
BlackBull Markets, on the other hand, maintains trading costs that are fairly average across its three account types. The Prime account offers a more attractive option with an average spread of 0.16 pips on EUR/USD, leading to an all-in cost of 0.76 pips when factoring in the commission of 0.3 pips per side. While the Standard account doesn’t charge commissions, it features higher spreads and no minimum deposit, making it suitable for beginners. The Prime account requires a $2,000 deposit and incurs a $6 round-turn commission per lot. For more advanced traders, the ECN Institutional account, with a minimum deposit of $20,000, provides reduced commission rates of $4 per round turn. BlackBull Markets secures a higher rating of 4.5 stars and a ranking of 18th out of 63 brokers for commissions and fees.
Overall, BlackBull Markets may offer a more appealing structure for those looking to minimize total trading costs, especially with its Prime and ECN Institutional accounts. In comparison, FXCM provides options for volume traders to potentially reduce costs through its Active Trader Rebate Program, though its higher average spreads and effective spread rates may offset these benefits. Both brokers provide competitive access to forex trading, but BlackBull Markets edges ahead in terms of cost efficiency, as reflected by its superior rating and ranking.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average Spread EUR/USD - Standard | 0.78 | 0.71 |
| All-in Cost EUR/USD - Active | 0.78 | 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 it comes to the variety of investments, FXCM and BlackBull Markets both offer forex trading through CFDs or spot contracts. However, BlackBull Markets stands out with a vast selection of 26,000 tradable symbols, significantly more than FXCM's 440. While FXCM provides access to 43 forex pairs, BlackBull Markets offers 72, providing traders with a wider array of currency choices. Additionally, unlike FXCM, BlackBull Markets gives clients the option to invest in exchange-traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares, enhancing its investment offerings beyond forex and CFDs.
Both platforms support copy trading features and offer opportunities to trade cryptocurrency derivatives, but neither provides the option for purchasing actual cryptocurrencies. According to ForexBrokers.com, BlackBull Markets is rated highly for its investment range, earning 5 stars and ranking #6 out of 63 brokers. In contrast, FXCM receives 3.5 stars and a #47 ranking in the same category, highlighting BlackBull Markets’ more extensive range of investment opportunities for traders looking for diversity in their trading platform.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 26000 |
| Forex Pairs (Total) | 43 | 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.
When comparing FXCM and BlackBull Markets, both brokers offer free virtual demo accounts, making them accessible choices for new traders looking to practice without risk. FXCM stands out with its proprietary trading platform developed in-house, while BlackBull Markets leverages third-party platforms. Both brokers provide windows-based desktop, browser-based trading platforms, and support for MetaTrader 4 (MT4). However, BlackBull Markets enhances its offering with MetaTrader 5 (MT5), which FXCM does not support. For traders interested in copy trading, both companies offer similar options with ZuluTrade but do not provide DupliTrade.
FXCM seems to have an edge with a higher rating of 5 stars for their trading platforms and tools, compared to BlackBull Markets' 4 stars. This is reflected in their respective rankings by ForexBrokers.com, where FXCM is at an impressive #6 and BlackBull Markets at #29. In terms of charting tools, FXCM offers 10 drawing tools, while BlackBull Markets provides a significantly larger array with 60 options. Both platforms allow users to trade directly from stock charts, although FXCM offers a more comprehensive watch list with 13 columns compared to BlackBull Markets' 6. These differences may influence a trader's choice depending on their specific needs for charting detail and platform features.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 115 | 109 |
| Charting - Drawing Tools (Total) | 10 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and BlackBull Markets both offer mobile trading apps compatible with iPhone and Android, providing users with on-the-go trading capabilities. Each platform allows traders to receive stock and forex price alerts and provides seamless watchlist symbol syncing, ensuring that changes made on one device reflect everywhere. When it comes to technical capabilities, FXCM stands out with 59 technical studies available in its mobile app compared to BlackBull Markets' 30. Both apps support drawing trendlines on charts, viewing multiple time frames such as daily, weekly, or intraday, and auto-saving chart drawings.
Further enhancing user experience, both FXCM and BlackBull Markets enable users to create a watchlist with real-time quotes. In terms of user ratings, FXCM scores slightly higher, earning 4.5 stars versus BlackBull Markets' 4 stars. Additionally, FXCM ranks higher in the Mobile Trading Apps category by ForexBrokers.com, securing the 16th spot out of 63 brokers, while BlackBull Markets holds the 31st position. These differences highlight FXCM's slight edge in charting tools and overall user satisfaction.
| Feature |
FXCM
|
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 | 59 | 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 evaluating the market research offerings of FXCM and BlackBull Markets, both brokers provide daily market commentary and feature economic calendars highlighting global news events. However, FXCM stands out with access to forex news from prestigious sources like Bloomberg, Reuters, and Dow Jones, which BlackBull Markets does not include. While BlackBull Markets provides Autochartist tools for technical and fundamental analysis, FXCM offers Trading Central tools, bolstering its research capabilities. Both platforms cater to traders interested in monitoring sentiment with tools showing the ratio of long and short positions across different instruments.
Further distinguishing its research services, FXCM offers insights from TipRanks, a feature not available with BlackBull Markets. Despite neither broker utilizing research from Acuity Trading, FXCM's comprehensive suite of tools and resources secures it a higher research rating of 4.5 stars compared to BlackBull Markets' 4 stars. This difference is highlighted in their rankings by ForexBrokers.com, where FXCM ranks 11th among 63 brokers, while BlackBull Markets ranks 18th. For those placing a premium on a wide array of research tools and top-tier information sources, FXCM provides a more compelling package.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For those stepping into the world of forex and CFDs trading, having access to comprehensive educational resources is key. Both FXCM and BlackBull Markets cater to beginners with a rich selection of educational materials. FXCM and BlackBull Markets each offer over ten educational pieces such as articles, videos, and archived webinars that mainly focus on forex and CFDs. Beginners can benefit from monthly online educational webinars and access to searchable archives of past webinars with both brokers. Notably, they each provide more than ten beginner-focused educational videos to help new traders get started.
On the more advanced side, FXCM and BlackBull Markets continue to educate with over ten detailed videos for experienced traders. They also support users with a dictionary containing definitions of over 50 investing terms, aiding in understanding trading jargon. However, FXCM slightly edges out with a 4.5-star rating compared to BlackBull Markets' 4-star rating from ForexBrokers.com. Additionally, FXCM is ranked #14 out of 63 for education, whereas BlackBull Markets comes in at #29, making FXCM a slightly more recommended choice for those leaning towards educational support in their trading journey.
| Feature |
FXCM
|
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 63 of the best forex brokers, our research and account testing finds that FXCM is better than BlackBull Markets. FXCM finished with an overall rank of #15, while BlackBull Markets finished with an overall rank of #24.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 78 |
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Both FXCM and BlackBull Markets do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
FXCM stands out for offering a wide range of deposit and withdrawal options including ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, whereas BlackBull Markets provides similar flexibility but lacks ACH, SEPA, and PayPal support, offering Skrill, Visa, Mastercard, and bank wires instead.
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 | FXCM | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
| Winner | check_circle | ||
| Review | FXCM Review | BlackBull Markets Review |
| Broker Screenshots | FXCM | BlackBull Markets | |
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| Regulation | FXCM | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 95 | 78 | |
| Year Founded | 1999 | 2014 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | 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) | 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) | FXCM | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 26000 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | FXCM | 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) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | FXCM | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 6 | |
| Charting - Indicators / Studies (Total) | 115 | 109 | |
| Charting - Drawing Tools (Total) | 10 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | 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 | 59 | 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 | FXCM | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | BlackBull Markets Review |
| Overall | FXCM | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
| Winner | check_circle | ||
| Review | FXCM Review | BlackBull Markets Review |
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