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 comparing FXCM and BlackBull Markets regarding commissions and fees, both brokers offer competitive options that cater to different trading needs, yet they exhibit notable differences. FXCM features slightly higher forex trading prices than the industry average. For May 2024, FXCM’s standard account spreads for the EUR/USD currency pair averaged 0.78 in regions like the EU, U.K., and Australia, while their St. Vincent and the Grenadines entity reported higher spreads at 1.38. Their commission-based accounts showed a favorable average spread of 0.28 pips, but including commissions results in an effective spread of around 0.74 pips. Active traders at FXCM can benefit from discounts, yet the requirements vary significantly based on region and trading volume.
Conversely, BlackBull Markets positions itself close to the industry’s average in terms of costs, with the flexibility of three account types to suit various traders. Their Prime account is particularly appealing, offering an average spread of 0.16 on the EUR/USD with a $6 commission per round turn per 10,000 traded, translating to a total cost of 0.76 pips. While the Standard account is free of commissions, it involves higher spreads. On the other hand, their ECN Institutional account is designed for more significant investments, featuring attractive commission rates for those who can meet the $20,000 minimum deposit.
In terms of ratings and rankings, both brokers are well-regarded, though BlackBull Markets has a slight advantage. FXCM earns a solid 4-star rating for commissions and fees and holds the 25th rank out of 63 brokers according to ForexBrokers.com. BlackBull Markets, however, receives a higher rating of 4.5 stars in the same category and is ranked 18th, reflecting its slightly more favorable pricing model for traders.
| 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 comparing the range of investments offered by FXCM and BlackBull Markets, several key differences emerge. Both brokers provide access to forex trading as both CFDs and spot contracts. However, FXCM offers 440 tradable symbols overall, while BlackBull Markets presents a vast array of 26,000 symbols. In terms of forex pairs, FXCM makes available 46 pairs, whereas BlackBull Markets offers a more extensive selection of 72 pairs. Moreover, one notable difference is that BlackBull Markets allows clients to purchase exchange-traded securities, such as Apple shares on U.S. exchanges and Vodafone on international exchanges. FXCM, on the other hand, does not provide this option.
For those interested in cryptocurrency, neither FXCM nor BlackBull Markets supports the purchase of actual cryptocurrencies, but both offer cryptocurrency derivatives. In addition, both brokers facilitate copy trading. When evaluated for their range of investments, FXCM receives a rating of 3.5 stars, ranking #47 out of 63 brokers by ForexBrokers.com. In contrast, BlackBull Markets earns a stellar 5-star rating, placing it at #6 within the same review. This positions BlackBull Markets as a standout option for traders seeking a comprehensive selection of investment opportunities.
| Feature |
FXCM
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 26000 |
| Forex Pairs (Total) | 46 | 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.
FXCM and BlackBull Markets both offer free virtual demo accounts, making it easy for beginners to practice trading risk-free. While both brokers provide Windows-based and web-based platforms, FXCM stands out with its proprietary platform, setting it apart since BlackBull Markets does not offer one. Both companies support the widely-used MetaTrader 4 platform, but BlackBull Markets takes the lead by also offering MetaTrader 5, which FXCM does not. Traders interested in social trading will find copy trading and ZuluTrade available at both brokers, although DupliTrade isn't offered by either.
When it comes to charting tools, BlackBull Markets offers an impressive 60 drawing tools, significantly more than FXCM's 10. FXCM does excel in watch list customization with 13 columns for investors to personalize, compared to BlackBull Markets' 6 columns. Despite these differences, both brokers allow trading directly from stock charts. In terms of overall platform quality, FXCM receives a 5-star rating and secures the 6th rank out of 63 brokers, indicating a highly favorable reputation. Meanwhile, BlackBull Markets earns a 4-star rating and ranks 30th, reflecting solid, yet less acclaimed, trading platforms and tools compared to FXCM.
| 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.
When comparing the mobile trading apps of FXCM and BlackBull Markets, both platforms offer robust options for traders with iPhones and Android devices. You'll find key features such as stock or forex price alerts, watchlist symbol syncing, and the ability to manage your watchlist with real-time quotes available on both apps. Each app supports trendline drawing and multiple time frame views for charting, ensuring that traders can analyze the markets effectively. Both apps even auto-save drawings on charts, enhancing the user experience.
FXCM, however, offers a more extensive array of 59 technical studies for charting compared to BlackBull Markets' 30. This detailed charting capability contributes to FXCM's higher mobile app rating of 4.5 stars compared to BlackBull Markets' 4 stars. Such features have helped FXCM secure the 16th spot out of 63 brokers in ForexBrokers.com's Mobile Trading Apps category, while BlackBull Markets ranks 32nd. Overall, while both apps provide strong mobile trading experiences, FXCM edges out slightly with its enhanced charting tools and higher recognition from users and experts alike.
| 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
|
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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) | |||
| 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/Central Bank 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. 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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