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 |
Comparing commissions and fees, BlackBull Markets edges out FXCM on ratings while both offer competitive pricing structures. FXCM earns 4.0/5 stars and ranks #25 of 63 for Commissions and Fees, while BlackBull Markets earns 4.5/5 stars and ranks #19 of 63. Your actual costs will depend on account type, region, and trading volume.
FXCM’s forex pricing is slightly higher than the industry average on its Standard account. Using May 2024 data, average EUR/USD spreads were 0.78 in the EU, U.K., and Australia, and 1.38 via its St. Vincent and the Grenadines entity. FXCM’s commission-based accounts averaged 0.28 pips (core spread), with an effective cost closer to 0.74 pips after commissions. FXCM also offers an Active Trader Rebate Program (not available in the U.K. or EU) with five tiers that rebate $5–$25 per million traded, depending on volume. In the U.K., a $25,000 balance and $50 million monthly volume can reduce commissions to $2.50 per side ($5 round turn), putting the effective EUR/USD spread around 0.78 pips based on January 2024 core pricing. Spreads can widen during rollover or in volatile markets.
BlackBull Markets’ costs are about average overall, and vary by account. The Prime account is the standout: in March 2024, EUR/USD averaged 0.16 pips, for a 0.76-pip all-in cost after the $3-per-side ($6 round-turn) commission. The Standard account is commission-free with higher spreads and no minimum deposit, while the ECN Institutional account targets high-volume traders with at least $20,000 to deposit and lower $2-per-side ($4 round-turn) commissions. In practice, BlackBull’s Prime account pricing is very close to FXCM’s commission-based all-in costs, but BlackBull holds the higher rating and better category rank.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average spread (EUR/USD) - Standard account | 0.9 | 0.71 |
| All-in Cost EUR/USD - Active | 0.8 | 0.71 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and BlackBull Markets both support forex trading via CFDs or spot contracts and both offer copy trading. For overall choice, FXCM lists 440 tradeable symbols and 46 forex pairs, while BlackBull Markets offers about 26,000 symbols and 72 forex pairs. Both brokers provide crypto trading through CFDs, but neither lets you buy actual (delivered) cryptocurrency.
Stock access is a key difference: FXCM does not offer exchange-traded shares in the U.S. or internationally, whereas BlackBull Markets lets you buy both U.S. and global stocks. Reflecting that breadth, FXCM is rated 3.5 out of 5 stars for Range of Investments and ranks 48th out of 63 brokers at ForexBrokers.com, while BlackBull Markets earns 5 out of 5 stars and ranks 6th. If you want the widest selection and direct stock dealing, BlackBull Markets is the stronger pick; if your focus is mainly forex, CFDs, and crypto CFDs with a smaller lineup, FXCM can fit the bill.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 26000 |
| Forex Pairs (Total) | 46 | 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.
Comparing FXCM vs BlackBull Markets for trading platforms and tools: both brokers provide free demo (paper) accounts so you can practice risk-free. FXCM offers its own proprietary platform in addition to MetaTrader 4 (MT4), while BlackBull Markets focuses on third-party platforms and supports both MT4 and MetaTrader 5 (MT5). Each broker has a Windows desktop platform and a web-based platform, supports copy trading, and lets you place trades directly from charts.
If you want MT5, choose BlackBull Markets; if you prefer a broker with an in-house platform option, FXCM stands out. Indicator counts and watchlist fields vary by platform, but in independent testing by ForexBrokers.com, FXCM earned 5 stars for Trading Platforms and Tools and ranked 6th out of 63 brokers, while BlackBull Markets earned 4 stars and ranked 31st. That makes FXCM the stronger pick for platform quality overall, with BlackBull appealing if MT5 is a must-have.
| Feature |
FXCM
|
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) | No | Yes |
| Charting - Indicators / Studies (Total) | 115 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and BlackBull Markets both deliver mobile trading apps for iPhone and Android. Each app supports price alerts, synced watchlists between mobile and web, and chart drawing tools like trendlines. Drawings save automatically, so your annotations carry over when you switch devices.
The biggest difference is charting depth. FXCM offers 59 built-in technical studies in its app, while BlackBull Markets provides 30. FXCM’s mobile app is rated 4.5 out of 5 stars and ranked 16th out of 63 brokers by ForexBrokers.com; BlackBull Markets is rated 4 out of 5 stars and ranked 33rd. If you want more indicators and higher-rated mobile performance, FXCM has the edge, but both apps cover the essentials for trading on the go.
| Feature |
FXCM
|
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 | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing FXCM vs BlackBull Markets for beginner education: both brokers make it easy to start learning. Each runs online client webinars at least once a month and offers 10+ beginner videos, helping you grasp forex and CFD basics at your own pace. When you’re ready to go deeper, both also provide 10+ advanced videos, so you can keep improving without switching platforms.
In third-party testing by ForexBrokers.com, FXCM earns a higher Education score (4.5/5, ranked #14 of 63) than BlackBull Markets (4/5, ranked #29 of 63). If you want a higher-rated learning path, FXCM has the edge; if you’re satisfied with steady webinars and clear video lessons for beginners, BlackBull Markets is still a solid pick.
| Feature |
FXCM
|
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 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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In an FXCM vs BlackBull Markets comparison, neither broker lets you buy actual (delivered) cryptocurrency, but both offer trading in cryptocurrency CFDs.
FXCM vs BlackBull Markets: FXCM supports ACH/SEPA, PayPal, Skrill, and bank wire transfers, while BlackBull Markets supports Skrill and bank wire only, with no ACH/SEPA or PayPal.
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) | |||
| 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) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 26000 | |
| Forex Pairs (Total) | 46 | 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 | FXCM | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.9 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.71 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | No | |
| Order 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 | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | FXCM | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 115 | 109 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FXCM | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FXCM | 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 | 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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