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.
Founded in 2007, IC Markets offers a solid choice for those looking for regulated online trading platforms. With a Trust Score of 84 from ForexBrokers.com, it is considered trustworthy. IC Markets holds two Tier-1 licenses, indicating a good level of regulatory oversight. However, like its competitor BlackBull Markets, it is not publicly traded and does not hold any Tier-2 licenses. Overall, IC Markets presents as a reliable option in the trading landscape.
BlackBull Markets, established in 2014, is another contender in this space, boasting a ForexBrokers.com Trust Score of 78, which falls into the average risk category. It holds one Tier-1 license, which points to a satisfactory degree of credibility. Similar to IC Markets, BlackBull is not listed on any stock exchange and is not a banking entity. Each of these brokers offers a distinct level of trust and regulation to meet the diverse needs of traders.
| 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 |
When it comes to trading costs, IC Markets and BlackBull Markets both offer compelling choices, yet they cater to different needs. With IC Markets, traders benefit from some of the lowest costs among forex brokers, thanks to its competitive spreads and minimal commissions. The broker's standout offerings are its Raw Spread accounts, available on both cTrader and MetaTrader platforms, with slight variations in commission. cTrader’s lower commissions per side result in a 0.62 pip all-in cost on the popular EUR/USD pair, whereas its MetaTrader counterpart comes in at 0.72 pips. For traders opting for the commission-free Standard account, the all-in average spread is around 0.62 pips, making it particularly enticing. The flexibility and low trading costs have earned IC Markets a 5-star rating and a commendable #5 rank out of 63 brokers in the Commissions & Fees category.
In comparison, BlackBull Markets delivers average industry rates with a simple tiered account structure that appeals to a broad audience. The Prime account, ideal for those willing to make a $2,000 minimum deposit, offers competitive spreads starting at 0.16 pips on the EUR/USD, which equates to a total cost of 0.76 pips when the $6 per lot round turn commission is factored in. Meanwhile, the Standard account is accessible, commission-free, and requires no minimum deposit, though it features higher spreads. BlackBull's ECN Institutional account targets high-volume traders with lower commission fees, though it necessitates a significantly higher deposit of $20,000. This tailored approach to fees and commissions has led BlackBull Markets to earn a 4.5-star rating, positioning the broker at #18 in the same category ranking.
Overall, both brokers offer diverse account types catering to different trading styles and financial commitments, with IC Markets leading in terms of competitive pricing. Active traders or those starting with smaller deposits may find IC Markets' offerings particularly appealing, while BlackBull Markets’ account options provide a satisfactory mix for varying levels of traders. Each broker provides value through distinct advantages, allowing traders to choose based on their specific trading strategies and financial capacity.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | 0.71 |
| All-in Cost EUR/USD - Active | 0.62 | 0.71 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | 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.
IC Markets and BlackBull Markets both offer a solid selection of investment opportunities, including forex trading available as CFDs or spot contracts. When it comes to the number of tradeable symbols, BlackBull Markets takes the lead with an impressive 26,000 options compared to IC Markets' 3,583. For forex enthusiasts, BlackBull Markets provides access to 72 currency pairs, slightly surpassing the 61 pairs available through IC Markets. Notably, both brokers support exchange-traded securities on international exchanges, though only BlackBull Markets allows clients to invest directly in U.S. stocks like Apple (NASDAQ: AAPL).
Both platforms offer the convenience of copy trading and access to cryptocurrency derivatives, though they don't support buying actual cryptocurrencies. In terms of user reviews and expert rankings, BlackBull Markets is praised for its broader range of investments, earning it a 5-star rating and a #6 ranking by ForexBrokers.com. IC Markets isn't far behind, with a 4.5-star rating and a #25 industry ranking, making it a commendable choice for those seeking diverse investment opportunities. Despite their differences, both brokers cater well to traders looking for variety in their portfolios.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 26000 |
| Forex Pairs (Total) | 61 | 72 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | 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 it comes to comparing IC Markets and BlackBull Markets in terms of their trading platforms and tools, both brokers offer a comprehensive range of features designed to enhance the trading experience. Each provides a Windows-based desktop platform and a web-based option, ensuring traders can access their accounts from virtually any device. Both brokers support popular trading platforms like MetaTrader 4 and MetaTrader 5, and offer paper trading via free virtual demo accounts, allowing newcomers to practice without financial risk. Moreover, they both extend copy trading features and support for ZuluTrade, enabling strategies that mimic successful traders.
Despite not providing proprietary platforms developed in-house, each broker brings its own strengths to the table. IC Markets provides 15 drawing tools for charting, while BlackBull Markets offers an impressive 60, catering to different technical analysis preferences. Both allow trading directly from stock charts, making quick decisions easier. However, IC Markets offers more customizable watch list columns, with seven fields compared to BlackBull Markets' six. Both received a 4-star rating for their platforms and tools from industry reviews, though IC Markets edges ahead in overall ranking, being positioned #16 compared to BlackBull Markets' #29 out of 63 brokers according to ForexBrokers.com.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 109 |
| Charting - Drawing Tools (Total) | 15 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and BlackBull Markets both provide traders with highly compatible mobile apps for iPhones and Android devices. These apps allow users to stay updated with price alerts on stocks and forex, easily draw trendlines, and analyze technical studies, as both platforms offer 30 options. Both apps also let traders view multiple time frames on their charts, which ensures a versatile trading experience. However, the biggest differentiator is BlackBull Markets’ ability to sync watchlist symbols between its mobile app and the client’s online account, a feature IC Markets currently lacks.
For traders who rely on consistent watchlist synchronizing across devices, BlackBull Markets offers a slight edge with this feature. Despite this difference, both platforms are highly rated, earning 4 out of 5 stars for their mobile trading apps. In terms of industry rankings by ForexBrokers.com, IC Markets came out slightly ahead at #22 compared to BlackBull Markets' #31, although both have their strengths. Overall, either app offers a comprehensive suite of tools for the mobile trader, allowing for robust charting and analysis on the go. Both brokers provide the capability to create a detailed watchlist with real-time updates, which is essential for active trading.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 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 comparing the market research offerings of IC Markets and BlackBull Markets, both brokers deliver daily market commentary and provide the essential forex news updates. However, IC Markets stands out by providing news from top-tier sources like Bloomberg and Reuters, whereas BlackBull Markets lacks this feature. Both brokers incorporate tools from Autochartist, enhancing their technical and fundamental analysis capabilities. Yet, IC Markets extends its advantage with additional resources from Trading Central, unlike BlackBull Markets. Both platforms do provide sentiment-based tools indicating long or short positions across different instruments, and each offers an economic calendar for tracking global news events.
Despite offering a similar level of research support, IC Markets and BlackBull Markets share a four-star research rating. However, ForexBrokers.com ranks BlackBull Markets slightly higher at the 18th position compared to IC Markets at 23rd, out of 63 brokers. Neither broker offers research tools from Acuity Trading or market research services from TipRanks, maintaining parity in these areas. In summary, IC Markets excels in news source offerings, while BlackBull maintains a slightly higher overall research ranking.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets and BlackBull Markets both provide ample educational resources ideal for beginners delving into forex and CFDs trading. Each broker offers more than ten educational materials, including articles, videos, and archived webinars, dedicated to helping novices understand trading basics. Both platforms consistently host at least one online educational webinar monthly, ensuring clients have ongoing learning opportunities. Moreover, any missed webinars can be accessed through their searchable archives, making it easy to catch up on valuable content at your convenience.
Beginners will find a wealth of video tutorials tailored to their learning levels, as IC Markets and BlackBull Markets each offer at least ten videos specifically designed for those new to trading. For more seasoned traders, there are ten advanced videos available at each broker, ensuring continued growth and learning as one progresses. Additionally, their extensive investor dictionaries feature over 50 investing terms, making complex concepts easy to understand. Both brokers have earned a solid four-star rating in education, although IC Markets holds a slight edge in overall ranking, placed at 16th compared to BlackBull Markets' 29th according to ForexBrokers.com. This minor distinction highlights IC Markets' slightly broader reach or impact in delivering educational value.
| Feature |
IC Markets
|
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 IC Markets is better than BlackBull Markets. IC Markets finished with an overall rank of #20, while BlackBull Markets finished with an overall rank of #24.
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
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 78 |
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Both IC Markets and BlackBull Markets do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
Compared to BlackBull Markets, which does not support PayPal, IC Markets provides more flexible deposit and withdrawal options with PayPal availability, alongside both brokers offering Visa, Mastercard, Skrill, and bank wire services, yet neither accommodating ACH or SEPA transfers.
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 | 84 | 78 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BlackBull Markets Review |
| Broker Screenshots | IC Markets | BlackBull Markets | |
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| Regulation | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 84 | 78 | |
| 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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 26000 | |
| Forex Pairs (Total) | 61 | 72 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $200 | $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 | No | No |
| Trading Platforms | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 6 | |
| Charting - Indicators / Studies (Total) | 30 | 109 | |
| Charting - Drawing Tools (Total) | 15 | 60 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 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 | IC Markets | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | 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 | IC Markets | 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 | IC Markets Review | BlackBull Markets Review |
| Overall | IC Markets | BlackBull Markets | |
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| Trust Score | 84 | 78 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BlackBull Markets Review |
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