Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and BlackBull Markets are two reputable online brokers often compared by traders. Founded in 2010, Pepperstone boasts high trust levels with a ForexBrokers.com Trust Score of 95 out of 99, indicating it is a highly trusted broker. It holds three Tier-1 licenses and two Tier-2 licenses, which further ensure its standing as a reliable choice for investors. BlackBull Markets, established in 2014, has a Trust Score of 78, suggesting an average risk according to ForexBrokers.com. It holds one Tier-1 license, but no Tier-2 licenses, which places it slightly behind Pepperstone in terms of regulatory backing and overall trust level.
Both Pepperstone and BlackBull Markets are not publicly traded on any stock exchange, nor are they structured as banks. These factors are essential considerations for traders looking to understand the operational scope and regulatory frameworks of each broker. While Pepperstone appears to offer stronger regulatory assurances, BlackBull Markets still provides a dependable trading environment, albeit with a different risk profile according to industry ratings. This variety offers traders choices based on their trust and regulatory preferences.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Year Founded | 2010 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
Pepperstone, an agency-execution broker, offers its customers a Razor account with competitive pricing, especially for high-volume traders who join its Active Trader program. The Razor account operates with a commission-based pricing model and shows an average spread of only 0.10 pips for EUR/USD, which leads to a total cost of 0.80 pips when adding in the commission of 0.70 pips. In comparison, Pepperstone’s commission-free Standard account is less appealing, with an average spread of 1.1 pips for EUR/USD. For its commissions and fees, Pepperstone boasts a strong 4.5 out of 5-star rating, ranking 10th out of 63 brokers in this category.
BlackBull Markets provides average industry pricing, varying according to the account type selected. Its Prime account features an appealing average spread of 0.16 pips for EUR/USD, culminating in an all-in cost of 0.76 pips when factoring in the $6 commission per 10,000 units traded. The Prime account requires a $2,000 minimum deposit, offering better spread rates compared to the commission-free Standard account, which has higher spreads. Their ECN Institutional account caters to active traders willing to deposit a minimum of $20,000, with a more competitive commission rate of $4 per round turn. Like Pepperstone, BlackBull Markets also holds a 4.5-star rating for commissions and fees, placed at 18th out of 63 brokers.
Both brokers present competent options depending on trading volume and deposit capacity. Pepperstone’s Razor account, coupled with its Active Trader rebates, provides a cost-effective solution for frequent traders. Meanwhile, BlackBull Markets’ Prime and ECN Institutional accounts demonstrate competitive pricing for those interested in upgrading their trading experience. Each broker's distinct offerings cater to varying trader needs, reflected in their similar star ratings yet different rankings, with Pepperstone holding a slightly higher position.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.00 | 0.71 |
| All-in Cost EUR/USD - Active | 0.70 | 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.
When comparing the range of investments offered by Pepperstone and BlackBull Markets, both brokers provide access to forex trading through CFDs and spot contracts. However, when it comes to variety and breadth, BlackBull Markets stands out with an impressive offering of 26,000 tradeable symbols compared to Pepperstone's 1,726. Additionally, BlackBull Markets surpasses Pepperstone in the tradeable forex pairs category, providing 72 pairs to Pepperstone's 65. For those interested in exchange-traded securities, BlackBull Markets allows clients to purchase stocks on both U.S. and international exchanges, options not presently provided by Pepperstone.
Both brokers offer the option for copy trading and provide cryptocurrency derivatives, catering to diverse trading strategies and preferences without the ability to purchase actual cryptocurrencies. Pertaining to their ratings, BlackBull Markets earns a higher score of five stars for its range of investments, while Pepperstone comes in with four. According to ForexBrokers.com, BlackBull Markets is ranked 6th out of 63 brokers in the Range of Investments category, reflecting a more extensive portfolio compared to Pepperstone's 26th position. For investors who prioritize a wide array of investment options, BlackBull Markets appears to be the more favorable choice between the two.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 26000 |
| Forex Pairs (Total) | 65 | 72 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | 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.
Pepperstone and BlackBull Markets both offer excellent options for traders seeking versatile trading platforms. Both brokers provide simulated trading through free virtual demo accounts, making it easier for users to practice without financial risk. When it comes to proprietary platforms, Pepperstone gives traders an in-house developed platform, while BlackBull Markets does not offer this feature. However, both brokers cater to traders who prefer the popular MetaTrader 4 and MetaTrader 5 platforms, offering them in both Windows-based desktop and web-based formats. Those interested in copy trading have both brokers as options, with Pepperstone supporting DupliTrade and BlackBull Markets partnering with ZuluTrade for automated follow-the-leader style trading.
In terms of charting tools, BlackBull Markets takes the lead with 60 drawing tools compared to Pepperstone's 30, providing extensive options for technical analysis. On the other hand, Pepperstone edges out BlackBull Markets when it comes to watchlists, offering seven columns to track investments compared to six offered by BlackBull Markets. Both brokers allow traders to execute trades directly from stock charts, catering to the preference of many traders for quick and easy actions. Rated equally with 4 stars for trading platforms and tools, Pepperstone holds a slightly higher rank from ForexBrokers.com at #22 compared to BlackBull Markets at #29, reflecting subtle differences in their offerings. Ultimately, the choice between these two platforms depends on specific trader preferences and the tools they prioritize in their trading strategy.
| Feature |
Pepperstone
|
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 | Yes | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 15 | 109 |
| Charting - Drawing Tools (Total) | 30 | 60 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and BlackBull Markets both offer comprehensive mobile trading apps compatible with iPhone and Android devices, enabling seamless trading on the go. Users can enjoy features like stock and forex price alerts, watchlist syncing for consistency across platforms, and technical analysis with 30 distinct studies available for charting, which are ideal tools for both novice and experienced traders. These apps also provide the ability to draw trendlines and switch between multiple time frames, enhancing detailed analysis and strategic planning. Both apps ensure that your valuable chart annotations are never lost by automatically saving your drawings.
For those who rely on real-time data to make trading decisions, both Pepperstone and BlackBull Markets support creating watchlists with live quotes. When it comes to ratings, the apps are evenly matched with a solid 4-star rating each for mobile trading capabilities. However, in the competitive landscape of 63 brokers, Pepperstone is ranked slightly higher at #21 compared to BlackBull Markets at #31 according to ForexBrokers.com. This ranking suggests a marginal preference towards Pepperstone in the realm of mobile trading functionality, making it an appealing choice for users prioritizing app performance and features.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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.
Pepperstone and BlackBull Markets both provide their clients with daily market commentary, ensuring traders stay updated with the latest market trends. However, when it comes to accessing forex news from top-tier sources like Bloomberg and Reuters, Pepperstone holds an advantage as it provides this premium information, unlike BlackBull Markets. Both brokers are on equal footing with supplying tools from Autochartist for technical and fundamental analysis, yet neither offers resources from Trading Central nor market research from TipRanks or Acuity Trading. Both brokers also provide an economic calendar to keep traders informed of significant global events, along with sentiment-based trading tools to gauge market trends.
In terms of research ratings, Pepperstone slightly outperforms BlackBull Markets, boasting a rating of 4.5 stars out of five, compared to BlackBull Markets’ 4 stars. When ranked among 63 brokers in the research category by ForexBrokers.com, Pepperstone is positioned at #12, ahead of BlackBull Markets, which ranks at #18. These ratings reflect Pepperstone's superior offering in research tools and information, potentially giving traders an edge in market analysis.
| Feature |
Pepperstone
|
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.
When comparing the educational resources available for beginners at Pepperstone and BlackBull Markets, both online brokers offer substantial materials to support learners. For those dipping their toes into forex or CFDs, each platform provides a wealth of over ten educational pieces, including articles, videos, and archived webinars. This extensive selection aims to help beginners grasp complex concepts gradually. Additionally, new traders can benefit from monthly online client webinars and searchable archives of past sessions, making both platforms accessible and flexible in catering to individual learning paces and schedules.
On the video tutorial front, beginners and experienced traders can expect at least ten videos tailored to their expertise level from each broker, ensuring everyone finds content that matches their skill set. Both platforms also offer an investor dictionary with over 50 essential investing terms explained, helping demystify market jargon. When rated for their educational offerings, Pepperstone earns a slightly higher score with 4.5 stars compared to BlackBull Markets’ 4 stars. Furthermore, in a ranking of 63 brokers by ForexBrokers.com, Pepperstone ranks 17th while BlackBull Markets sits at 29th, making both viable options for traders seeking to expand their knowledge, albeit with a slight edge for Pepperstone in depth and ranking.
| Feature |
Pepperstone
|
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 Pepperstone is better than BlackBull Markets. Pepperstone finished with an overall rank of #16, while BlackBull Markets finished with an overall rank of #24.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 78 |
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Both Pepperstone and BlackBull Markets provide opportunities to invest in cryptocurrency derivatives, but neither offers the option to purchase actual, delivered cryptocurrencies.
When comparing online brokers, Pepperstone provides more diverse funding methods, including ACH, SEPA, and PayPal, alongside Skrill, Visa/Mastercard, and bank wires, whereas BlackBull Markets supports Skrill, Visa/Mastercard, and bank wires, but lacks ACH, SEPA, and PayPal options.
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 | Pepperstone | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
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| Review | Pepperstone Review | BlackBull Markets Review |
| Broker Screenshots | Pepperstone | BlackBull Markets | |
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| Regulation | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 95 | 78 | |
| Year Founded | 2010 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | 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) | Yes | 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) | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 26000 | |
| Forex Pairs (Total) | 65 | 72 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | 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 | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | 0.71 | |
| All-in Cost EUR/USD - Active | 0.70 | 0.71 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | 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 | Pepperstone | 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 | Yes | Yes | |
| DupliTrade | Yes | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 6 | |
| Charting - Indicators / Studies (Total) | 15 | 109 | |
| Charting - Drawing Tools (Total) | 30 | 60 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | BlackBull Markets Review |
| Overall | Pepperstone | BlackBull Markets | |
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| Trust Score | 95 | 78 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | BlackBull Markets Review |
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