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 (founded 2010) and BlackBull Markets (founded 2014) are online brokers; neither is publicly traded or a bank. Based on ForexBrokers.com’s Trust Score (0–99, where 90–99 means highly trusted and 70–79 means average risk), Pepperstone scores 94 (highly trusted), while BlackBull Markets scores 77 (average risk).
On regulation, Pepperstone holds 3 Tier-1 licenses and 2 Tier-2 licenses, indicating broader oversight from top-tier regulators. BlackBull Markets holds 1 Tier-1 license and no Tier-2 licenses. If regulatory strength and trust are priorities, Pepperstone offers wider high-grade licensing, while BlackBull Markets has more limited regulatory coverage.
| 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 and BlackBull Markets both offer competitive pricing, but Pepperstone comes out ahead for commissions and fees. Pepperstone is rated 5 stars and ranked #5 out of 36 brokers for this category. Its Razor account is the low-cost choice for most traders, with an average EUR/USD spread of 0.10 pips plus commission, for an all-in cost of about 0.80 pips. By contrast, Pepperstone’s Standard account is commission-free but has wider spreads, with an average EUR/USD spread of 1.1 pips, making it the pricier option overall.
BlackBull Markets is also competitive, but its pricing is a bit less attractive than Pepperstone’s. It is rated 4.5 stars and ranked #9 out of 36 brokers for commissions and fees. The Prime account is the best value among its three account types, with an average EUR/USD spread of 0.16 pips and an all-in cost of about 0.76 pips after commission. The Standard account has no commission and no minimum deposit, but spreads are higher, while the ECN Institutional account is aimed at larger-volume traders and offers lower commissions for qualifying clients.
Overall, Pepperstone is the stronger pick for traders who want low-cost pricing, especially if they use the Razor account or qualify for the Active Trader program. BlackBull Markets still offers reasonable fees and may appeal to traders who want account flexibility, but its overall commissions and fees are not quite as strong as Pepperstone’s.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $10 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1 |
| All-in Cost EUR/USD - Raw spread account | 0.7 | 0.70 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Pepperstone and BlackBull Markets both give traders access to forex as a CFD or spot contract, and both support copy trading and cryptocurrency CFDs. Pepperstone also lets clients buy actual cryptocurrency, which may appeal to people who want to own the coin itself rather than just trade its price. In terms of forex pairs, Pepperstone offers 65, while BlackBull Markets offers 72, giving BlackBull a slight edge for currency traders.
When it comes to the overall range of investments, BlackBull Markets stands out much more clearly. It lists about 26,000 tradeable symbols, compared with Pepperstone’s 2,631, and it also offers exchange traded securities on both U.S. and international markets, which Pepperstone does not. Based on ForexBrokers.com, Pepperstone is rated 4 out of 5 stars and ranked #23 out of 36 brokers for Range of Investments, while BlackBull Markets earns 5 out of 5 stars and ranks #7, making it the stronger choice for traders who want the widest selection.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 2631 | 26000 |
| Forex Pairs (Total) | 65 | 72 |
| U.S. Stocks (Shares) | No | Yes |
| Global Stocks (Non-U.S. Shares) | No | 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.
Pepperstone and BlackBull Markets both give traders a strong mix of platform choices and trading tools. Each broker offers a free demo account, Windows desktop trading, web-based access, copy trading, MetaTrader 4, MetaTrader 5, and the ability to trade directly from charts. This means beginners can practice before trading with real money, while active traders still get the familiar tools many people look for in an online broker.
The main difference is that Pepperstone also offers its own in-house trading platform, while BlackBull Markets does not. Both brokers are rated 4 out of 5 stars for trading platforms and tools, but Pepperstone ranks higher in this category at #21 out of 36 brokers, compared with BlackBull Markets at #26. If you want a broker with more platform variety, Pepperstone has the edge, while BlackBull Markets still covers the core trading needs well.
| Feature |
Pepperstone
|
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) | 90 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and BlackBull Markets are closely matched when it comes to mobile trading apps. Both brokers offer iPhone and Android apps, along with stock and forex price alerts, watchlist syncing between the mobile app and online account, and charting tools that include 30 technical studies. Traders can also draw trend lines on charts in both apps, and any drawings are saved automatically for later use.
In terms of overall mobile experience, both Pepperstone and BlackBull Markets are rated 4 out of 5 stars. However, Pepperstone has a stronger ranking from ForexBrokers.com, placing 19th out of 36 brokers in the Mobile Trading Apps category, while BlackBull Markets ranks 29th. That gives Pepperstone a slight edge for mobile trading, even though both apps offer many of the same useful features.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | 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.
Pepperstone and BlackBull Markets both give traders daily market commentary, a sentiment tool showing long and short position ratios, and an economic calendar with upcoming global news events. Each broker is also rated 4.5 out of 5 stars for research, which suggests a strong offering for everyday market tracking and planning.
The main difference is in news and research extras. Pepperstone stands out by offering forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, while BlackBull Markets does not. BlackBull Markets, however, includes Autochartist tools for technical and fundamental analysis, which Pepperstone does not. Neither broker offers Trading Central, TipRanks, or Acuity Trading tools. In ForexBrokers.com’s research rankings, Pepperstone places higher at #13 out of 36 brokers, compared with BlackBull Markets at #17.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | 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.
Pepperstone and BlackBull Markets both give beginners plenty of learning material to start with. Each broker offers at least 10 forex or CFDs education pieces, monthly educational webinars, and at least 10 beginner videos, plus another 10 advanced videos for traders who want to go further. In other words, both platforms cover the basics well and also offer content for more experienced users.
Where they differ is in their overall education standing. Pepperstone is ranked #15 out of 36 brokers for Education by ForexBrokers.com, while BlackBull Markets sits at #25. Even so, both brokers are rated 4.5 out of 5 stars for Education, which suggests that each one provides a strong learning experience for beginners looking to build trading knowledge.
| Feature |
Pepperstone
|
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 Pepperstone is better than BlackBull Markets. Pepperstone finished with an overall rank of #17, while BlackBull Markets finished with an overall rank of #22.
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 | 94 | 77 |
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Pepperstone stands out for offering both actual, delivered cryptocurrency purchases and cryptocurrency CFDs, while BlackBull Markets only provides cryptocurrency CFDs and does not allow clients to buy the underlying crypto asset directly.
Pepperstone and BlackBull Markets both support ACH/SEPA transfers, Skrill, and bank wire deposits and withdrawals, but Pepperstone also offers PayPal, giving it an extra funding and payout option over BlackBull Markets.
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 | 94 | 77 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | BlackBull Markets Review |
| Broker Screenshots | Pepperstone | BlackBull Markets | |
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| Regulation | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Trust Score | 94 | 77 | |
| 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 (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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 | ||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 2631 | 26000 | |
| Forex Pairs (Total) | 65 | 72 | |
| U.S. Stocks (Shares) | No | Yes | |
| Global Stocks (Non-U.S. Shares) | No | 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 | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.0 | 1 | |
| All-in Cost EUR/USD - Raw spread account | 0.7 | 0.70 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $10 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | Pepperstone | 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 | Yes | Yes |
| Trading Tools | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 90 | 109 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | Yes | 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 | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | Yes | |
| Trading Central | No | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | Pepperstone Review | BlackBull Markets Review |
| Overall | Pepperstone | BlackBull Markets | |
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| Trust Score | 94 | 77 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | BlackBull Markets Review |
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