Written by ForexBrokers.com
In this head to head comparison of IC 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.
IC Markets (founded 2007) and BlackBull Markets (founded 2014) are online brokers that are not publicly traded and are not banks. On ForexBrokers.com’s 99-point Trust Score, IC Markets scores 83 (trusted), while BlackBull Markets scores 77 (average risk). For context, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 should not be trusted.
Looking at regulation, IC Markets holds two Tier-1 licenses (considered highly trusted by ForexBrokers.com), compared with one Tier-1 license for BlackBull Markets; neither broker holds any Tier-2 licenses. This gives IC Markets a slight edge in top-tier oversight, which may appeal to traders who prioritize licensing and safety.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 2007 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
IC Markets comes out ahead of BlackBull Markets on commissions and fees, especially for traders who want low trading costs. IC Markets offers three account types: a commission-free Standard account and two commission-based Raw Spread accounts, including cTrader and MetaTrader versions. The cTrader Raw Spread account charges $3.00 per side per 100,000 units, while the MT4/MT5 Raw Spread account charges $3.50 per side. With average EUR/USD spreads as low as 0.02 pips on its commission-based setup, IC Markets can deliver very competitive all-in pricing. It also offers lower costs for active traders who trade more than 100 standard lots per month.
BlackBull Markets has fair pricing overall, but its costs are generally higher than IC Markets. Its Standard account has no commission and no minimum deposit, though spreads are wider. The Prime account has lower spreads and charges $3 per side, but requires a $2,000 minimum deposit. For very active traders, the ECN Institutional account lowers commissions to $2 per side, but it requires at least $20,000 to open. Based on EUR/USD pricing, BlackBull’s Prime account lands at an all-in cost of about 0.76 pips, which is decent but not as low as IC Markets.
In ForexBrokers.com’s Commissions and Fees category, IC Markets is rated 5 stars and ranked #5 out of 36 brokers, while BlackBull Markets is rated 4.5 stars and ranked #9 out of 36 brokers. Overall, IC Markets is the better choice for traders focused on keeping fees low, while BlackBull Markets is more of a middle-of-the-road option with a wider range of account types.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average spread (EUR/USD) - Standard account | 0.62 | 1.16 |
| All-in Cost EUR/USD - Active | 0.62 | 0.76 |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IC Markets and BlackBull Markets for range of investments, both brokers let you trade forex as CFDs or spot contracts, offer copy trading, and support cryptocurrency CFDs. IC Markets provides 7,435 tradeable symbols and 61 forex pairs, while BlackBull Markets offers a much wider list with 26,000 tradeable symbols and 72 forex pairs. Neither broker lets you buy actual cryptocurrency, so crypto access is limited to CFDs only.
BlackBull Markets also stands out for share investing, since it offers exchange traded securities on both U.S. and international exchanges, such as Apple and Vodafone shares, while IC Markets does not offer these non-CFD stocks. Reflecting that broader product range, BlackBull Markets is rated 5 out of 5 stars and ranks #7 out of 36 brokers for Range of Investments, compared with IC Markets at 4.5 stars and #22 out of 36.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7435 | 26000 |
| Forex Pairs (Total) | 61 | 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.
When comparing IC Markets vs BlackBull Markets for trading platforms and tools, both brokers offer a very similar setup for everyday traders. Each provides a free demo account for simulated trading, plus access to both MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can trade on a Windows desktop platform or a web-based browser platform with either broker, and both also support copy trading and direct trading from charts. Neither IC Markets nor BlackBull Markets offers a proprietary in-house platform, so traders will be using third-party software rather than a broker-built app.
In terms of ratings, both IC Markets and BlackBull Markets score 4 out of 5 stars for Trading Platforms and Tools. However, IC Markets ranks higher in this category at #17 out of 36 brokers, while BlackBull Markets sits at #25 out of 36. For traders who want familiar platform choices, chart trading, and copy trading options, both brokers are well matched, with IC Markets holding a slight edge in overall category ranking.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | 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) | 32 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and BlackBull Markets both give mobile traders a solid starting point, with iPhone and Android apps, price alerts, 30 technical studies for charting, trendline drawing, and auto-saved drawings. Both brokers are also rated 4 out of 5 stars for mobile trading apps, so each offers a similar day-to-day trading experience on the go.
The main difference is watchlist syncing. BlackBull Markets lets watchlists on the mobile app sync with your online account, so changes carry over between devices, while IC Markets does not offer this feature. In ForexBrokers.com’s mobile trading apps ranking, IC Markets places higher at #22 out of 36 brokers, compared with BlackBull Markets at #28, making IC Markets the slightly stronger pick overall for mobile trading.
| Feature |
IC 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 | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing IC Markets vs BlackBull Markets for market research, both brokers give traders useful day-to-day insights. Each offers daily market commentary, a sentiment tool, and an economic calendar for tracking global events. IC Markets also stands out for forex news from top sources such as Bloomberg, Reuters, and Dow Jones, plus research from Trading Central and TipRanks, which may be helpful for traders looking for more in-depth market ideas.
BlackBull Markets takes a different approach, with support from Autochartist for chart-based trading signals, but it does not include top-tier forex news, Trading Central, or TipRanks. Still, it shares daily commentary, sentiment data, and an economic calendar with IC Markets. Based on ForexBrokers.com, BlackBull Markets scores higher for research at 4.5 out of 5 and ranks #17 out of 36 brokers, while IC Markets is rated 4 out of 5 and ranks #21, making BlackBull the stronger pick overall for market research.
| Feature |
IC Markets
|
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.
When comparing IC Markets and BlackBull Markets for beginner education, both brokers give new traders plenty to work with. Each offers forex and CFD learning materials, regular online client webinars at least once a month, and at least 10 beginner videos plus 10 advanced videos. That means either broker can help someone start learning the basics and then move on to more advanced trading topics. For new traders, the overall experience is quite similar, with both firms providing a solid mix of articles, videos, and webinars.
There are a few differences in how these two brokers are viewed for education. BlackBull Markets is rated slightly higher at 4.5 out of 5 stars, while IC Markets is rated 4 out of 5 stars. However, IC Markets ranks better with ForexBrokers.com for education, placing #16 out of 36 brokers, compared with BlackBull Markets at #24. In simple terms, both brokers offer strong educational support for beginners, but BlackBull Markets gets the higher star rating, while IC Markets holds the stronger ranking.
| Feature |
IC 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 IC Markets is better than BlackBull Markets. IC Markets finished with an overall rank of #21, while BlackBull Markets finished with an overall rank of #22.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 77 |
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In the IC Markets vs BlackBull Markets comparison, neither broker lets you buy actual (delivered) cryptocurrencies, but both offer trading via cryptocurrency CFDs.
IC Markets supports PayPal, Skrill, and bank wire transfers but not ACH/SEPA (Visa/Mastercard info not provided), while BlackBull Markets supports ACH/SEPA, Skrill, and bank wire transfers but not PayPal (Visa/Mastercard info not provided).
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 | IC Markets | BlackBull Markets | |
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| Trust Score | 83 | 77 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BlackBull Markets Review |
| Broker Screenshots | IC Markets | BlackBull Markets | |
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| Broker Gallery (click to expand) |
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| Regulation | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 83 | 77 | |
| Year Founded | 2007 | 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 | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC 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) | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 7435 | 26000 | |
| Forex Pairs (Total) | 61 | 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 | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.62 | 1.16 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.76 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | 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 | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 32 | 109 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC 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 | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IC Markets | 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 | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IC 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 | IC Markets Review | BlackBull Markets Review |
| Overall | IC Markets | BlackBull Markets | |
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| Trust Score | 83 | 77 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BlackBull Markets Review |
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