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 keep trading costs competitive, but they take different routes. Pepperstone earns 5/5 stars for commissions and fees and is ranked #6 of 63 by ForexBrokers.com, while BlackBull Markets scores 4.5/5 stars and ranks #9. On headline EUR/USD pricing, BlackBull’s Prime account all-in cost of 0.76 pips (March 2024) edges Pepperstone’s Razor account at 0.80 pips (July 2024). That said, Pepperstone’s volume-based rebates can drive costs even lower for active traders.
Pepperstone’s Razor account uses a commission-based model with an average EUR/USD spread of 0.10 pips; adding the commission-equivalent of 0.70 pips brings the all-in cost to 0.80 pips. Its Standard account is commission-free but shows an average 1.1 pips on EUR/USD, making it pricier than Razor. High-volume traders can unlock savings through the Active Trader program: in the U.K. and EU, eligible professional clients trading at least £20 million per month can receive a 15% rebate per lot (rising to 25% above £200 million), while in Australia, tiers range from a 10% reduction (100-lot minimum over three months) up to 30% for more than 3001 lots monthly.
BlackBull Markets’ pricing varies by account. The Standard account is commission-free with no minimum deposit but higher spreads. The Prime account requires a $2,000 minimum deposit and charges $3 per side ($6 round turn) with an average EUR/USD spread of 0.16 pips, producing a 0.76-pip all-in cost—often the better value versus Standard. For larger deposits, the ECN Institutional account starts at $20,000 with lower commissions of $2 per side ($4 round turn).
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 1.1 | 1.16 |
| All-in Cost EUR/USD - Active | 0.8 | 0.76 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
BlackBull Markets offers a much broader range of investments than Pepperstone, with around 26,000 tradeable symbols and 72 forex pairs compared to Pepperstone’s 1,726 symbols and 65 pairs. Both brokers support forex trading via CFDs or spot, provide cryptocurrency CFDs (but not delivered crypto), and include copy trading options.
If buying real shares matters to you, BlackBull Markets allows trading exchange-listed securities on both U.S. and international exchanges, while Pepperstone does not offer exchange-traded shares (stock exposure is via CFDs). Reflecting the difference in breadth, ForexBrokers.com rates BlackBull Markets 5 stars for Range of Investments and ranks it #7 of 63, while Pepperstone earns 4 stars and ranks #23. Traders seeking an extensive symbol list may favor BlackBull, whereas Pepperstone covers the core markets with a more streamlined selection.
| Feature |
Pepperstone
|
BlackBull Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 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) | 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.
Pepperstone and BlackBull Markets both make it easy to get started with a free demo account and offer trading on Windows desktop and in your web browser. Each supports copy trading and lets you place trades directly from charts, which can speed up order entry.
Pepperstone adds its own proprietary platform to the mix, while BlackBull Markets sticks to third‑party options. Both brokers support MetaTrader 4 (MT4) and MetaTrader 5 (MT5). For Trading Platforms and Tools, each earns 4 out of 5 stars, with Pepperstone ranked #21 out of 63 brokers by ForexBrokers.com and BlackBull Markets at #25. If you want access to an in‑house platform, Pepperstone has the edge; if you mainly need MT4/MT5 with web and desktop access plus copy trading, both are solid choices.
| 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) | 15 | 109 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Pepperstone and BlackBull Markets both deliver capable mobile trading apps for iPhone and Android. Each app supports price alerts and watchlist syncing with your online account, so changes carry across devices. For charting, both apps include 30 technical studies, let you draw trendlines, and auto-save your drawings. In day-to-day use, that means you can set alerts, manage watchlists, and keep your analysis intact whether you’re on your phone or desktop. Both earn 4 out of 5 stars for mobile trading.
Where they differ is in placement within industry rankings: in ForexBrokers.com’s Mobile Trading Apps category, Pepperstone ranks 19th out of 63 brokers, while BlackBull Markets ranks 27th. Since their mobile features are closely matched, the slight ranking edge goes to Pepperstone, but your best pick may hinge on other needs—such as the platforms you already use or which brand’s app experience you prefer.
| 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 deliver solid research basics: daily market commentary, an economic calendar, Autochartist tools for technical ideas, and a sentiment gauge showing long vs. short positioning. Neither broker includes Trading Central, TipRanks, or Acuity Trading. The key difference is news: Pepperstone streams forex headlines from top-tier sources like Bloomberg, Reuters, or Dow Jones, while BlackBull does not—an edge for traders who rely on fast, credible news to spot catalysts.
Both brokers earn 4.5 out of 5 stars for Research, but Pepperstone ranks higher at #12 out of 63 brokers, compared with BlackBull at #16, according to ForexBrokers.com. If integrated premium news matters to you, Pepperstone is the better fit. If you’re fine without embedded top-tier news, BlackBull offers a comparable set of research tools.
| Feature |
Pepperstone
|
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.
Pepperstone and BlackBull Markets both deliver beginner-friendly forex and CFD education. Each broker runs educational webinars at least once a month and offers 10+ beginner videos to help you understand the basics, plus 10+ advanced videos for when you’re ready to go deeper. That means plenty of lessons, whether you prefer watching videos or learning live.
Both earn 4.5 stars for education from ForexBrokers.com. However, Pepperstone is ranked higher overall for education (#15 of 63) compared with BlackBull Markets (#24 of 63). If ranking matters to you, Pepperstone has a slight edge; if you just want monthly webinars and a large library of beginner and advanced videos, both brokers are well matched.
| 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 and BlackBull Markets both do not support buying actual (delivered) cryptocurrencies, but each offers cryptocurrency CFD trading.
Comparing deposit and withdrawal options, Pepperstone supports ACH/SEPA, PayPal, and bank wire transfers, whereas BlackBull Markets supports Skrill and bank wires but not ACH/SEPA or PayPal; Visa/Mastercard availability for both brokers 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 | 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) | 1726 | 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) | 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 | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.1 | 1.16 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.76 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | BlackBull Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| 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) | 15 | 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 Watchlist [DELETED] | |||
| 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 | Yes | 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 | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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