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 both earn 4.5/5 stars for commissions and fees, but Pepperstone ranks #6 of 63 brokers while BlackBull Markets ranks #9 of 63. Each offers a low-cost, commission-based account for active traders alongside a simpler, commission-free option with wider spreads.
Pepperstone’s Razor account combines tight spreads with a commission, delivering an average all-in cost of about 0.80 pips on EUR/USD (0.10 pip average spread plus roughly 0.70 pip commission-equivalent). Its Standard account is commission-free but averages about 1.1 pips on EUR/USD, making it pricier than Razor. High-volume traders can lower costs further via Pepperstone’s Active Trader rebates: in the U.K./EU, professional clients trading at least £20 million per month can get about 15% off spreads, improving to 25% above £200 million; in Australia, professional clients start at a 10% discount from 100 lots (over three months), rising to 30% above 3,001 lots per month.
BlackBull’s Prime account is the better value versus its commission-free Standard account. On Prime, the average EUR/USD spread was 0.16 pips with an all-in cost near 0.76 pips after commissions ($3 per side, $6 round turn, $2,000 minimum deposit). BlackBull’s Standard account has no minimum deposit but carries higher spreads, while the ECN Institutional tier targets larger balances ($20,000 minimum) with lower commissions ($2 per side, $4 round turn). In short, Pepperstone’s Razor plus rebates can be compelling for high-volume pros, while BlackBull’s Prime offers very competitive pricing without needing a separate rebate program.
| 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 vs BlackBull Markets: if market research is a priority, Pepperstone has a slight edge thanks to premium news coverage and a higher score. Pepperstone earns 4.5 stars for Research and ranks #12 out of 63 brokers on ForexBrokers.com, while BlackBull Markets scores 4 stars and ranks #16. Both brokers deliver daily market commentary and an economic calendar, giving traders steady updates on upcoming events.
Feature-by-feature, the two are similar: each offers Autochartist tools for technical and fundamental ideas, sentiment indicators showing the long/short split, and daily insights. Neither includes Trading Central, TipRanks, or Acuity Trading. The key difference is news: Pepperstone offers forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, whereas BlackBull Markets does not. Choose Pepperstone if integrated premium news matters to you; pick BlackBull Markets if you only need core research tools and daily commentary.
| 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 offer beginner-friendly forex and CFD education. Each provides an extensive library that includes at least 10 beginner videos and at least 10 advanced videos, plus ongoing educational webinars held at least once a month. This means new traders can watch step-by-step videos, follow along with more advanced lessons as they grow, and join live sessions to ask questions in real time.
When it comes to quality and depth, Pepperstone has a slight edge for beginners: it earns 4.5 stars for Education and ranks #15 out of 63 brokers on ForexBrokers.com, compared with BlackBull Markets’ 4 stars and #24 ranking. If you want the stronger all-around education score and higher-rated learning experience, Pepperstone is the better pick, while BlackBull Markets still delivers a solid path for getting started.
| 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 | 95 | 78 |
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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 | 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 (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 SCA 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 | 95 | 78 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | BlackBull Markets Review |
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