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.
OANDA and BlackBull Markets are online brokers with different histories and footprints. OANDA, founded in 1996, is not publicly traded and is not a bank; BlackBull Markets, founded in 2014, is also privately held and not a bank.
Their regulation and trust profiles differ notably. OANDA holds 7 Tier-1 licenses and 0 Tier-2 licenses, while BlackBull Markets holds 1 Tier-1 license and 0 Tier-2 licenses (Tier-1 is considered highly trusted by ForexBrokers.com). On the ForexBrokers.com scale, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and under 59 not trusted. OANDA’s Trust Score is 92/99 (highly trusted); BlackBull Markets scores 77/99 (average risk).
| 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 it comes to commissions and fees, BlackBull Markets generally edges out OANDA on headline trading costs. BlackBull’s Prime account posts an average EUR/USD spread of 0.16 pips (March 2024), with an all‑in cost around 0.76 pips after commission, while OANDA’s default pricing is higher on average. OANDA earns 4/5 stars and ranks #30 of 63 for Commissions and Fees, compared with BlackBull Markets at 4.5/5 stars and a #9 ranking.
OANDA’s default (commission‑free) spreads are on the steeper side, with an average 1.61 pips on EUR/USD in July 2024. Its Core pricing lowers the spread but adds a commission of $5 per side per $100,000 traded (about $10 round turn), which typically brings the total cost slightly below the default plan—for example, a 0.4‑pip spread plus about 1.0 pip in commission equivalent equals roughly 1.4 pips. The Core option requires a $10,000 minimum deposit. Notable perks include ultra‑small trade sizes down to 1 unit and volume rebates of $5–$17 per million for eligible high‑volume traders. OANDA publishes a trailing average of spreads for transparency, though not fixed‑period averages.
BlackBull Markets offers three account types. The Standard account is commission‑free with no minimum deposit but wider spreads. The Prime account—often the better value for frequent traders—requires $2,000 and charges $3 per side ($6 round turn) per lot alongside the tighter pricing noted above. The ECN Institutional tier starts at $20,000 with $2 per side ($4 round turn). For many traders focused on lower all‑in costs, BlackBull’s Prime pricing tends to undercut OANDA’s default and even its Core setup, while OANDA appeals to those who value tiny trade sizes and transparent, published spread data.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.68 | 1.16 |
| All-in Cost EUR/USD - Active | 1.69 | 0.76 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing OANDA and BlackBull Markets for range of investments, BlackBull offers a much larger catalog with 26,000 tradeable symbols versus OANDA’s 4,172. Both brokers let you trade forex as CFDs or spot contracts, with BlackBull listing 72 currency pairs and OANDA 69. Each provides access to exchange-traded securities on U.S. and international exchanges (not CFDs), and both support copy trading.
For cryptocurrency, OANDA stands out by allowing purchases of actual crypto as well as crypto CFDs, while BlackBull limits crypto to CFDs only. In independent ratings, OANDA earns 4.5 out of 5 stars and ranks #20 of 63 for Range of Investments, whereas BlackBull scores 5 out of 5 stars and ranks #7. Choose BlackBull if you want the widest list of symbols; pick OANDA if owning real crypto alongside other assets matters to you.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 26000 |
| Forex Pairs (Total) | 69 | 72 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | 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.
OANDA and BlackBull Markets both make it easy to practice with a free demo (paper) account. Each offers Windows desktop and web-based platforms, supports copy trading, and lets you place orders directly from charts. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are available at both brokers. The main difference is that OANDA also provides a proprietary, in-house platform, while BlackBull Markets focuses on third‑party options. Specific counts for chart indicators and watchlist fields were not provided.
According to ForexBrokers.com, both brokers earn 4 stars for Trading Platforms and Tools. OANDA ranks 16th out of 63 brokers, while BlackBull Markets ranks 25th. Choose OANDA if you want a broker-built platform alongside MT4 and MT5; pick BlackBull Markets if you prefer a MetaTrader-centered setup with desktop and web access plus copy trading.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | 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) | 89 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing OANDA vs. BlackBull Markets for mobile trading: both brokers offer iPhone and Android apps, along with price alerts for forex and stocks. Each app includes 30 technical indicators, trendline drawing, and auto-save for chart annotations. A key difference is watchlists: OANDA’s watchlists do not sync with the web platform, while BlackBull Markets supports watchlist syncing across devices and your online account.
For overall app quality, 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 #27. Choose OANDA if you want a higher-rated mobile trading experience; pick BlackBull Markets if synced watchlists are a priority.
| Feature |
OANDA
|
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.
OANDA and BlackBull Markets both deliver daily market commentary, an economic calendar, Autochartist-powered analysis, and a sentiment tool that shows the ratio of long and short positions. Neither broker includes Trading Central research, TipRanks, or tools from Acuity Trading. This means traders at both firms get practical, chart‑driven insights and event tracking, but not those extra third‑party research suites.
The big difference is news: OANDA provides forex news from top‑tier sources like Bloomberg or Reuters, while BlackBull Markets does not. That edge helps explain OANDA’s higher Research score—5 stars and ranked #4 out of 63 brokers by ForexBrokers.com—versus BlackBull Markets at 4.5 stars and ranked #16. If integrated premium news matters to you, OANDA has the advantage; if you just want daily commentary, Autochartist, and sentiment data, BlackBull Markets still covers the essentials.
| Feature |
OANDA
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and BlackBull Markets both deliver dedicated forex and CFD education that easily clears the “10 pieces” bar, making them beginner-friendly choices. Each broker runs client webinars at least once a month and offers plentiful videos for all skill levels—at least 10 beginner videos to help you get started and at least 10 advanced videos for when you’re ready to go deeper.
In head-to-head quality, OANDA edges ahead with a 5-star Education rating and a #18 ranking out of 63 brokers by ForexBrokers.com. BlackBull Markets is close behind with a 4.5-star rating and a #24 ranking. If you want the slightly stronger, top-rated learning track, OANDA is a smart pick; if you’re looking for similar breadth with just a small drop in rating, BlackBull Markets is still a solid option.
| Feature |
OANDA
|
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 OANDA is better than BlackBull Markets. OANDA finished with an overall rank of #13, while BlackBull Markets finished with an overall rank of #22.
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 | 92 | 77 |
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In the OANDA vs BlackBull Markets comparison, OANDA supports buying actual (delivered) cryptocurrency as well as crypto CFDs, whereas BlackBull Markets offers crypto CFDs only and does not provide access to real, delivered cryptocurrencies.
OANDA vs BlackBull Markets: for deposits and withdrawals, OANDA supports ACH/SEPA, PayPal, Skrill, and bank wire transfers, while BlackBull Markets lacks ACH/SEPA and PayPal but offers Skrill and bank wires; Visa/Mastercard availability is not specified for either broker.
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 | 92 | 77 | |
| Winner | check_circle | ||
| Review | OANDA Review | BlackBull Markets Review |
| Broker Screenshots | OANDA | BlackBull Markets | |
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| Regulation | OANDA | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 92 | 77 | |
| 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 (FSA 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 CMA 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. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.68 | 1.16 | |
| All-in Cost EUR/USD - Active | 1.69 | 0.76 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | BlackBull Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | 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 | No | Yes |
| Trading Tools | OANDA | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 109 | |
| 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 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 | OANDA | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | OANDA | 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 | OANDA Review | BlackBull Markets Review |
| Overall | OANDA | BlackBull Markets | |
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| Trust Score | 92 | 77 | |
| Winner | check_circle | ||
| Review | OANDA Review | BlackBull Markets Review |
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