Written by ForexBrokers.com
In this head to head comparison of OANDA 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 considering online brokers, OANDA and BlackBull Markets stand out for different reasons. Founded in 1996, OANDA has established itself as a highly trusted broker, boasting a ForexBrokers.com Trust Score of 93 out of 99. This high score is largely attributed to OANDA holding seven Tier-1 licenses, known for their strong regulatory trust. Although not a bank and not publicly traded, OANDA's long track record and regulatory credentials speak to its credibility in the online trading arena.
In contrast, BlackBull Markets, founded in 2014, carries a Trust Score of 78 out of 99, classifying it as average risk according to ForexBrokers.com. While it's not publicly traded or a bank, BlackBull Markets has made significant strides in the industry. The company holds one Tier-1 license, which adds a layer of reliability. Though newer and with fewer licenses compared to OANDA, BlackBull Markets continues to cater effectively to traders looking for a trustworthy option.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 1996 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing commissions and fees, BlackBull Markets generally edges out OANDA on raw trading costs, especially if you choose its Prime account. OANDA remains competitive for convenience thanks to automated execution and tiny trade sizes, but its effective spreads are typically higher. For the Commissions and Fees category, OANDA is rated 4 stars and ranked #35 out of 63 brokers by ForexBrokers.com, while BlackBull Markets is rated 4.5 stars and ranked #19 out of 63.
OANDA’s standard (commission-free) pricing showed an average EUR/USD spread of 1.61 pips in July 2024. Its Core pricing lowers the spread but adds a commission of $5 per side per $100,000 traded (about $10 per round turn). Using the EUR/USD example, a 0.4-pip Core spread plus the 1-pip commission equivalent brings the all-in cost to about 1.4 pips—slightly cheaper than the 1.6-pip default. OANDA also allows trade sizes as small as 1 unit, offers volume-based rebates ($5–$17 per million in select regions), and publishes trailing spread averages for added transparency, though they’re not tied to fixed time periods.
BlackBull Markets’ costs vary by account. The commission-free Standard account has higher spreads and no minimum deposit. The Prime account requires $2,000, charges a $3-per-side ($6 round turn) commission, and showed a 0.16-pip average spread on EUR/USD in March 2024—about 0.76 pips all-in after adding the 0.6-pip round-turn commission equivalent. Active traders can consider the ECN Institutional account (minimum $20,000) with $2 per side ($4 round turn). Overall, BlackBull’s Prime pricing is typically sharper than OANDA’s for frequent forex traders.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.69 | 0.71 |
| All-in Cost EUR/USD - Active | 1.69 | 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.
Comparing OANDA vs BlackBull Markets for range of investments, BlackBull takes the lead on sheer breadth: about 26,000 tradeable symbols versus OANDA’s 4,172. BlackBull also edges out on forex pairs (72 vs 69). Both brokers let you trade forex via CFD or spot (availability can depend on region), and both provide access to real, exchange-traded stocks on U.S. and international markets. Copy trading is available at both firms.
Crypto is a key difference: OANDA lets you buy actual cryptocurrencies as well as crypto derivatives, while BlackBull Markets offers crypto derivatives only. Independent ratings reflect the gap in overall breadth: OANDA scores 4/5 stars and ranks 28th out of 63 for Range of Investments, while BlackBull Markets scores 5/5 stars and ranks 6th. If you want the widest symbol list, BlackBull stands out; if buying actual crypto matters, OANDA has the edge.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 26000 |
| Forex Pairs (Total) | 69 | 72 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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.
OANDA and BlackBull Markets both check key boxes for platform access and ease of use. Each broker provides a free demo account, Windows desktop software, and a web-based trading platform. Copy trading is available at both, and you can trade right from charts on either broker. OANDA stands out with its own in-house platform alongside MetaTrader 4 (MT4) and MetaTrader 5 (MT5). BlackBull Markets does not have a proprietary platform but supports MT4 and MT5 and adds ZuluTrade for social trading (neither broker offers DupliTrade). Both brokers offer watch lists with six editable columns and a healthy selection of technical indicators.
For charting tools, OANDA lists 74 drawing tools versus 60 at BlackBull Markets. In ForexBrokers.com’s Trading Platforms and Tools category, both brokers earn 4 out of 5 stars, with OANDA ranked #15 of 63 and BlackBull Markets ranked #31 of 63. If you want a broker with its own platform plus MetaTrader, OANDA is appealing; if you prefer to pair MetaTrader with ZuluTrade, BlackBull Markets is worth a look.
| Feature |
OANDA
|
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) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 89 | 109 |
| Charting - Drawing Tools (Total) | 74 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and BlackBull Markets both offer mobile trading apps for iPhone and Android with price alerts, real-time quotes, and customizable watchlists. Their charting tools are on par: each provides 30 technical indicators, multiple time frames (intraday to weekly), trendline drawing, and auto-saved chart annotations. A key difference is watchlist syncing: BlackBull lets your mobile watchlists sync with your online account, while OANDA does not.
For ratings, OANDA earns 5 stars and ranks #7 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while BlackBull Markets holds 4 stars and ranks #33. Choose OANDA if you want a top-rated mobile trading experience with strong charting and alerts; pick BlackBull if synced watchlists across devices are a priority.
| Feature |
OANDA
|
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.
Both OANDA and BlackBull Markets deliver daily market commentary and an economic calendar to help you track key events. Each broker also includes Autochartist for technical and fundamental scan ideas and offers a sentiment tool that shows long vs. short positioning. Neither broker provides Trading Central, TipRanks, or Acuity Trading (Signal Centre). The biggest difference is news coverage: OANDA includes forex news from top-tier sources like Bloomberg/Reuters/Dow Jones, while BlackBull Markets does not.
For research, OANDA is rated 5 stars and ranks 4th out of 63 brokers, whereas BlackBull Markets holds 4 stars and ranks 18th. If you want premium news integrated alongside trading ideas and sentiment, OANDA has the edge. If you can live without the major newswire feed, BlackBull Markets still offers useful tools for market analysis.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | 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.
If you’re new to forex or CFDs, both OANDA and BlackBull Markets provide beginner-friendly education. Each broker offers a library of at least ten learning pieces focused on forex and CFDs, plus monthly client webinars and a searchable archive of past sessions. You’ll find 10+ beginner videos to get started, along with 10+ advanced videos as you progress. Both also include an investor dictionary with 50+ terms to help you understand trading jargon and concepts.
In terms of recognition, OANDA edges ahead. It holds a 5-star Education rating and is ranked #19 out of 63 brokers for Education by ForexBrokers.com, while BlackBull Markets earns 4 stars and ranks #29 out of 63. If you want the higher-rated learning experience, OANDA is a strong pick; if you’re looking for a comparable lineup of webinars, videos, and a handy glossary, BlackBull Markets is a solid alternative for beginners.
| Feature |
OANDA
|
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 OANDA is better than BlackBull Markets. OANDA finished with an overall rank of #12, while BlackBull Markets finished with an overall rank of #24.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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BlackBull Markets
|
|---|---|---|
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| Trust Score | 93 | 78 |
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OANDA allows you to buy both actual delivered cryptocurrency and cryptocurrency derivatives, whereas BlackBull Markets only offers the ability to buy cryptocurrency derivatives, not the actual delivered cryptocurrency.
When comparing online brokers OANDA and BlackBull Markets, OANDA stands out by offering a broader range of deposit and withdrawal options including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, whereas BlackBull Markets also supports Skrill, Visa or Mastercard, and bank wires, but lacks support for ACH, SEPA transfers, and PayPal.
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 | OANDA | BlackBull Markets | |
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| Trust Score | 93 | 78 | |
| Winner | check_circle | ||
| Review | OANDA Review | BlackBull Markets Review |
| Broker Screenshots | OANDA | BlackBull Markets | |
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| Regulation | OANDA | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 93 | 78 | |
| Year Founded | 1996 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | BlackBull Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 26000 | |
| Forex Pairs (Total) | 69 | 72 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.69 | 0.71 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | OANDA | 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) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | OANDA | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 6 | |
| Charting - Indicators / Studies (Total) | 89 | 109 | |
| Charting - Drawing Tools (Total) | 74 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | OANDA Review | BlackBull Markets Review |
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| Trust Score | 93 | 78 | |
| Winner | check_circle | ||
| Review | OANDA Review | BlackBull Markets Review |
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