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 and BlackBull Markets are two prominent online brokers that offer competitive commission structures and fees, catering to both novice and high-volume traders. Pepperstone shines with its Razor account, featuring an average spread of 0.10 pips on EUR/USD pairs as of July 2024, and a total cost of 0.80 pips after commissions, which aligns with the industry average. Their Standard account, meanwhile, is commission-free but less competitive with an average spread of 1.1 pips. For active traders, Pepperstone’s Active Trader program offers rebates based on trading volume, with significant discounts for high-volume trades, especially for professional clients in the UK, EU, and Australia. Rated 4.5 stars for commissions and fees, Pepperstone ranks #10 out of 62 brokers.
In comparison, BlackBull Markets offers average trading costs across its three account types. Their Prime account, considered the most cost-effective, has an average spread of 0.16 pips on EUR/USD pairs as of March 2024, resulting in an all-in cost of 0.76 pips, factoring in a commission of $6 per 10,000 traded. The Prime account requires a $2,000 minimum deposit. Alternatively, the Standard account offers commission-free trading with no minimum deposit, albeit with higher spreads. BlackBull's ECN Institutional account caters to elite traders, demanding a $20,000 deposit and featuring low commission rates. Also rated 4.5 stars, BlackBull Markets stands at #18 in the commissions and fees ranking from ForexBrokers.com.
| 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 Pepperstone and BlackBull Markets, both brokers offer forex trading as CFDs or spot contracts, providing options for traders to engage with the forex market. However, BlackBull Markets stands out with a substantially larger range of tradeable symbols, offering over 26,000 compared to Pepperstone's 1,726, including 72 forex pairs, whereas Pepperstone offers 65. Additionally, BlackBull Markets provides the opportunity to invest in exchange-traded securities on both U.S. and international exchanges, such as buying shares of Apple or Vodafone. In contrast, Pepperstone does not offer such securities, limiting its investment range to CFDs and other derivative products.
Both brokers support copy trading and allow trading of cryptocurrency derivatives rather than the actual cryptocurrencies, catering to those interested in digital assets while avoiding direct ownership. In terms of their overall range of investments, Pepperstone is rated four stars out of five, and it holds the 26th position in rankings among 62 brokers, according to ForexBrokers.com. BlackBull Markets, on the other hand, earns a five-star rating and ranks significantly higher at sixth place, highlighting its broader spectrum of available investments and trading opportunities.
| 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 a range of trading platforms and tools that cater to various trader needs. Pepperstone has developed its own proprietary platform, providing it with some unique features that differentiate it from BlackBull Markets, which does not offer an in-house platform. Both brokers support popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and they provide Windows-based desktop and web browser trading options. They also support copy trading, though Pepperstone offers DupliTrade, while BlackBull Markets features ZuluTrade.
When it comes to charting, BlackBull Markets boasts 60 drawing tools compared to Pepperstone’s 30, yet both brokerages allow traders to execute trades directly from stock charts. In terms of customization, Pepperstone provides seven watchlist columns while BlackBull Markets has six. Both brokers have earned a four-star rating for their trading platforms and tools, with Pepperstone ranked slightly ahead at #22 compared to BlackBull Market's #29 by ForexBrokers.com among 62 brokers. To help new traders, both companies offer free demo accounts, making it easy to acclimate before committing real funds.
| 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 highly functional mobile trading apps for iPhone and Android devices, allowing traders to engage in stock or forex trading from anywhere. Both trading platforms provide essential features like price alerts, the ability to sync watchlists between the mobile app and online account, and comprehensive charting tools with 30 technical studies and the option to draw trendlines. Users of both applications can easily switch between different time frames on their charts and enjoy the convenience of autosaving their drawings. Real-time quotes are integrated into watchlists in their apps, offering immediate access to current market prices.
While both Pepperstone and BlackBull Markets receive a four-star rating for their mobile trading apps, there are distinctions in terms of ranking. According to ForexBrokers.com, Pepperstone is positioned at #21 out of 62 brokers, showing a slightly more favorable ranking compared to BlackBull Markets, which holds the #31 spot. Despite their minor differences in rankings, both apps cater exceptionally well to traders' needs, offering seamless trading experiences and comprehensive mobile features. Whether you choose Pepperstone or BlackBull Markets, you're equipped with industry-standard tools that enhance trading on the go.
| 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.
When it comes to market research, Pepperstone and BlackBull Markets both offer daily market commentary, keeping traders informed about the latest market trends. Pepperstone gains a notable edge by providing forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, while BlackBull Markets lacks this feature. Both brokers offer tools for technical and fundamental analysis from Autochartist and provide sentiment-based trading tools to gauge market positions. However, neither broker offers tools from Trading Central or market research from TipRanks and Acuity Trading, indicating similarities in some areas of their research offerings.
Both Pepperstone and BlackBull Markets include an economic calendar to track global news events, providing traders with important information on economic developments. In terms of research ratings, Pepperstone is rated slightly higher at 4.5 stars compared to BlackBull Markets' 4 stars. According to ForexBrokers.com, this distinction is reflected in their rankings, with Pepperstone placed at #12 out of 62 brokers, while BlackBull Markets ranks at #18. This comparison highlights the strengths Pepperstone holds in offering superior research resources, making it a strong option for traders seeking comprehensive market insights.
| 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.
Pepperstone and BlackBull Markets both offer a variety of educational resources catering to beginners interested in forex or CFDs trading. Each platform provides at least 10 educational items, including articles, videos, and archived webinars, focusing on these topics. Both also hold monthly webinars and host a searchable archive of past webinars, making it easier for users to access valuable content at their convenience. For those just starting, both brokers offer over 10 beginner-oriented videos covering the basics of trading.
When it comes to more experienced traders, Pepperstone and BlackBull Markets also provide advanced educational videos that enhance trading knowledge. Supplementing these resources is an investor dictionary available on each platform, featuring definitions for at least 50 investing terms. Pepperstone edges out BlackBull Markets with a slightly higher education rating of 4.5 stars, compared to BlackBull's 4 stars. According to ForexBrokers.com, Pepperstone ranks #17 while BlackBull Markets comes in at #29 out of 62 brokers for educational offerings, which may influence your choice depending on how high you prioritize education in your trading journey.
| 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 62 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 | |
| Winner | check_circle | ||
| 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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