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 |
For low commissions and fees, IC Markets generally edges out BlackBull Markets. On EUR/USD, IC Markets’ cTrader Raw account delivers an all‑in cost around 0.62 pips (about 0.72 pips on MetaTrader Raw), while BlackBull’s Prime account comes in around 0.76 pips. Reflecting these costs, IC Markets is rated 5 stars and ranks #5 out of 63 brokers for Commissions & Fees, earning Best in Class honors in 2024; BlackBull Markets is rated 4.5 stars and ranks #9 out of 63.
IC Markets offers three accounts: Standard (spread‑only), Raw Spread (MT4/MT5), and cTrader Raw. The two Raw accounts use a commission: cTrader is $3 per side ($6 round turn) per standard lot, and MT4/MT5 is $3.5 per side ($7 round turn). With average EUR/USD spreads as low as 0.02 pips before commission on Raw, the all‑in pricing stays very competitive, and the Standard account averages about 0.62 pips with no commission. Spreads can vary by platform and by the IC Markets entity (EU, Australia, Seychelles). Active traders who exceed 100 lots per month can qualify for discounts, and the commission‑based accounts have a low minimum deposit.
BlackBull Markets’ pricing depends on the account: Standard (spread‑only, no minimum deposit), Prime (lower spreads, $2,000 minimum deposit, $3 per side/$6 round turn per lot), and ECN Institutional (from $20,000, $2 per side/$4 round turn). On Prime, EUR/USD averages about 0.16 pips before commission for an all‑in near 0.76 pips. That makes Prime the better value versus Standard at BlackBull, though IC Markets tends to offer slightly lower all‑in costs on popular pairs. Still, BlackBull’s 4.5‑star rating and #9 ranking underscore its solid fee profile if you can meet the Prime or Institutional deposit tiers.
| 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 | 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 and BlackBull Markets both support forex trading via CFDs and/or spot, plus copy trading for those who want to mirror other traders. BlackBull Markets offers a larger selection overall with about 26,000 tradeable symbols and 72 forex pairs, compared with IC Markets’ 3,583 symbols and 61 pairs. Both brokers provide cryptocurrency trading through CFDs, but neither lets you buy actual crypto.
When it comes to exchange-traded shares, BlackBull Markets stands out by offering access to U.S. stocks as well as international listings, while IC Markets offers international shares but not U.S.-listed stocks. Reflecting this breadth, BlackBull Markets is rated 5 stars for Range of Investments and ranks #7 out of 63 brokers, whereas IC Markets earns 4.5 stars and ranks #22. In short, BlackBull Markets is better for traders seeking the widest market access, while IC Markets still offers a strong mix for forex, CFDs, and international equities.
| 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 is a close matchup for trading platforms and tools. Both brokers provide free demo (paper) accounts, offer Windows desktop downloads and web-based platforms, and support copy trading. Neither broker has a proprietary platform, but each supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), including the ability to place trades directly from charts. That means you get familiar, feature-rich charting and a wide library of plug-ins no matter which broker you choose.
In expert reviews, both IC Markets and BlackBull Markets earn 4 out of 5 stars for Trading Platforms and Tools. If rankings matter to you, IC Markets sits higher at #17 out of 63 brokers on ForexBrokers.com, while BlackBull Markets is #25. For most traders, the choice may come down to other factors, since their platform lineups and key tools are so similar.
| 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 deliver full-featured mobile trading apps for iPhone and Android. Each app includes forex and stock price alerts, 30 technical studies for charting, the ability to draw trendlines, and auto-saving for your chart drawings. The key difference is watchlists: BlackBull Markets syncs watchlists between the mobile app and your online account, while IC Markets does not, which can matter if you switch devices often.
Both brokers earn 4 stars for Mobile Trading Apps. According to ForexBrokers.com, IC Markets ranks #22 out of 63 brokers in this category, while BlackBull Markets ranks #27. If synced watchlists are important to your workflow, BlackBull Markets has a slight edge; otherwise, both apps offer similar charts, alerts, and core tools for trading on the go.
| 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.
IC Markets and BlackBull Markets both provide daily market commentary, an economic calendar, sentiment tools that show long vs. short positioning, and Autochartist for trade ideas. The key differences: IC Markets includes forex news from outlets like Bloomberg, Reuters, and Dow Jones, and adds Trading Central analysis, while BlackBull Markets does not offer those two extras. Neither broker integrates TipRanks or Acuity Trading tools.
Both brokers earn a 4-star research rating. However, ForexBrokers.com ranks BlackBull Markets slightly higher in the Research category (#16 of 63) than IC Markets (#21 of 63). If you want integrated top-tier news and Trading Central, IC Markets has the edge; if you’re content with core tools and prefer the higher research ranking, BlackBull Markets is appealing.
| 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 give beginners plenty of ways to learn. Each broker hosts ongoing client webinars (at least monthly) and offers a large library of video lessons—10+ beginner videos to help you get started, plus 10+ advanced videos when you’re ready to go deeper. For self-paced study and live Q&A, both cover the basics of forex and CFD trading in an approachable format.
Independent ratings back this up: both brokers earn 4 out of 5 stars for Education on ForexBrokers.com. IC Markets ranks #16 out of 63 brokers in the Education category, while BlackBull Markets ranks #24, giving IC Markets a slight edge. If learning resources are your priority, IC Markets may be the better pick; if you simply want frequent webinars and plenty of videos, either broker is a solid choice for beginners.
| 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
|
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 (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 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 | 1.16 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.76 | |
| 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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