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 |
IC Markets generally undercuts BlackBull Markets on trading costs. IC Markets is rated 5 stars and ranks #5 out of 63 brokers for Commissions & Fees, while BlackBull Markets is rated 4.5 stars and ranks #19. On EUR/USD, IC Markets’ cTrader Raw account delivers an all-in cost near 0.62 pips (about 0.02-pip average raw spread plus a 0.6-pip commission equivalent), compared with roughly 0.76 pips on BlackBull’s Prime account (about 0.16-pip average spread plus a 0.6-pip commission equivalent).
IC Markets offers three account types: a commission-free Standard account (average EUR/USD spread about 0.62 pips) and two commission accounts—Raw Spread on MT4/MT5 at $3.5 per side per standard lot (about 0.7 pips commission equivalent; around 0.72 pips all-in on EUR/USD) and cTrader Raw at $3 per side (about 0.6 pips commission equivalent). Pricing can vary by platform and by IC Markets’ entity (Cyprus, Australia, Seychelles). IC Markets features low minimums for its commission accounts, plus discounts for active traders over 100 lots per month, and it earned Best in Class honors for Commissions & Fees in 2024.
BlackBull Markets also has three choices: a commission-free Standard account with higher spreads and no minimum deposit; the Prime account with lower spreads, a $2,000 minimum deposit, and $3 per side ($6 round turn) per lot—producing about 0.76 pips all-in on EUR/USD given a 0.16-pip average spread; and the ECN Institutional account for deposits of $20,000+ with $2 per side ($4 round turn). Overall, BlackBull’s fees are about average, and the Prime account is the better value if you can meet the minimum.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average spread (EUR/USD) - Standard account | 0.62 | 0.71 |
| All-in Cost EUR/USD - Active | 0.62 | 0.71 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets vs BlackBull Markets: for sheer variety, BlackBull stands out with 26,000 tradeable symbols compared to IC Markets’ 3,583. BlackBull also lists more forex pairs (72 vs 61). Both brokers let you trade forex either as CFDs or spot contracts, and both support copy trading. If you’re interested in crypto, neither offers actual coins, but both provide cryptocurrency CFDs.
For shares, BlackBull lets you buy actual U.S.-listed stocks like Apple, while IC Markets does not; both brokers offer real shares on international exchanges. Reflecting this broader range, BlackBull earns a 5-star rating for Range of Investments and ranks #6 of 63 brokers, whereas IC Markets scores 4.5 stars and ranks #26. If you want maximum choice—especially U.S. stocks—BlackBull Markets is the better fit; IC Markets still delivers an extensive lineup with international shares and popular trading extras.
| Feature |
IC Markets
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 26000 |
| Forex Pairs (Total) | 61 | 72 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | 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.
IC Markets vs BlackBull Markets: both online brokers deliver similar trading platform lineups and tools. Each offers a free demo (paper) account, Windows desktop and web-based platforms, copy trading, and the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Neither provides a proprietary platform; instead, they lean on MetaTrader’s ecosystem. Traders can also place orders directly from charts with both brokers, which is handy for timing entries and exits.
When it comes to third-party evaluations, both earn 4 out of 5 stars for Trading Platforms and Tools from ForexBrokers.com. However, IC Markets holds a higher category ranking (#16 of 63) compared with BlackBull Markets (#31 of 63). If you’re choosing between the two on platforms alone, the feature sets are closely matched, while the ranking edge goes to IC Markets.
| 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) | 30 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and BlackBull Markets both offer mobile trading apps for iPhone and Android. Each app includes price alerts, 30 technical studies for charting, trendline drawing, and auto‑saved chart annotations, so your work stays in place between sessions. Both apps are rated 4 stars for Mobile Trading Apps, making them solid choices for traders who want capable tools on the go.
The key difference is watchlist syncing: IC Markets does not sync watchlists between the mobile app and your online account, while BlackBull Markets does, letting you keep the same symbols across devices. For third‑party recognition, ForexBrokers.com ranks IC Markets #22 out of 63 brokers for mobile trading, compared with #33 for BlackBull Markets. Choose BlackBull Markets if synced watchlists are essential; pick IC Markets if a higher industry ranking is more important to you.
| 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 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets and BlackBull Markets both provide beginner-friendly forex and CFD education. Each meets the benchmark of at least 10 educational pieces and offers at least 10 beginner videos, at least 10 advanced videos for when you’re ready to go deeper, and monthly live webinars. That means new traders can learn through video lessons and keep building skills with ongoing webinar support.
In terms of quality, both score 4 out of 5 stars for Education from ForexBrokers.com. IC Markets is ranked higher (#16 of 63) than BlackBull Markets (#29 of 63), which could sway you if rankings matter; otherwise, both are solid choices for getting started with structured forex and CFD learning.
| 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 #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
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BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 78 |
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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 vs BlackBull Markets: for deposits and withdrawals, neither broker supports ACH or SEPA; IC Markets supports PayPal while BlackBull Markets does not; both offer Skrill and bank wire transfers; Visa/Mastercard availability is not specified.
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) | |||
| 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 SCA 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) | 3583 | 26000 | |
| Forex Pairs (Total) | 61 | 72 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | 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 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.71 | |
| Inactivity Fee | No | 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 | No |
| 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) | 30 | 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 | Yes | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | 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 | 84 | 78 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BlackBull Markets Review |
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